Hey there,
in this thread I want to share my trading approach which is a simple breakout. I start with 100 CHF today trading EUR/USD and GBP/JPY.
The approach is pretty simple. Take the 30min candle starting at 8:00 GMT and put a buy stop above and a sell stop below with a SL at the opposite side and a TP which has the size of the SL. R/W is 1:1 obviously.
Additionally I work with a progressive position size calculation. Initial risk is 0.5%. If the trade is a loss I increase the next one to 1.0%, then 1.5% and so on. I stop at 5.0% per trade. If a trade is a success I lower the trade size for the next trade again.
Cheers!
in this thread I want to share my trading approach which is a simple breakout. I start with 100 CHF today trading EUR/USD and GBP/JPY.
The approach is pretty simple. Take the 30min candle starting at 8:00 GMT and put a buy stop above and a sell stop below with a SL at the opposite side and a TP which has the size of the SL. R/W is 1:1 obviously.
Additionally I work with a progressive position size calculation. Initial risk is 0.5%. If the trade is a loss I increase the next one to 1.0%, then 1.5% and so on. I stop at 5.0% per trade. If a trade is a success I lower the trade size for the next trade again.
Cheers!