DislikedTrading accounts wax and wane according to market vicissitude and volatility. What you have demonstrated, however, is that via proper trade management, one can define one's risk without limiting one's rewards in any trade, either via one-way or via hedging. In Canada, we need to set up non-netting accounts to allow for the buying and selling of the same instrument simultaneously (ie hedging), and I am not sure if it is even allowed in the US. One thing I have learnt here is that when we are long, we set our stop at support, and ignore resistance....Ignored
The issue I have with support and resistance is that it is sort of arbitrary in the grand scheme of things. I always used to trade with hard SL and Hard TP. The issue is that you can never fully know if a resistance or support will hold. You need to use SL in my opinion - bearing in mind this strategy is only about playing the numbers, no science in terms of entering the market...
remember that this is in testing mode.... This can be made much more profitable ( i am certain) however i am simply testing the profitability of the trade managament and understanding the effect of the Money management (when we get to that place).
There will be lots of losses in this system - i am hoping for a 50% win ratio.. hopefully it will be better. If that can be achieved (which currently I do not have overall, although i think that is because I am joining in the losing cycle of the entries!) then profitability should follow as the winners are generally so much bigger than the losers. If you have a look at the EURJPY line - 4 trades, 1 winner, and it is in the black... that is quite powerful.
The issue at the moment, which is why i still advise to trade either on demo, or not at all... is because the most trades that i have for any one pair, is 6 (Dow is not included as 6 of the trades were made as a test before this went live... and are only included to match up with the TE) on the GBPJPY, which is not enough to properly assess the profitability of any pair... I want at least 100 trades PER PAIR before I decide what to optimise (if i am still in the game at that point!!)
The only real robust testing has been on the USDCAD and the DOW, with shortened tests on EURUSD, GBPUSD and a couple of others, which i deleted the records for (well, i didn't save them)
On the other hand, one winning trade per pair should be enough to put them in the black...