For the first time since I started dabbling with Forex, I've got a strategy that seems to be working, based on Udine's 00 Level Trading.
I've refined it over the last 6 months but for the last 3 months it's been bringing in consistent pips.
Udine, if everything goes to plan I owe you more coffee than you can ever drink.
Thanks also go to Nasap, Masterrmind, Luxing, Robinho, Yelena and many others who have contributed to the thread and also Hanover.
But, going back to my strategy, there are two variants. Over the last 3 months and they performing as follows: -
1. variant 1 is averaging about 98 pips/day with a win rate of about 75% averaging 20 trades/day.
2. variant 2 is averaging about 134 pips/day but only has a win rate of about 66% averaging about 32 trades/day.
The only difference between the two variants is that there is an additional filter on variant 1 which, as well as filtering out a lot of bad trades also filters out some good trades.
Both variants have a R:R of 1:1 (less spread - there is no commission as I'm UK based and using a spread betting account) and I use the SleepTight ea to lock in some pips.
My gut feeling says that the 130 pips/day is better as it's generating more pips...and more pips is good.
But I can't help feeling that, over the long term, the variant with a higher win rate might be the safer way to go (less draw down maybe).
Does anyone have any advice as to which way to go?
I've refined it over the last 6 months but for the last 3 months it's been bringing in consistent pips.
DislikedTHE ONLY EXPENSES YOU WILL EVER HAVE, IS THAT WHEN WE EVER MEET, YOU PAY FOR A COFFEEIgnored
Udine, if everything goes to plan I owe you more coffee than you can ever drink.
Thanks also go to Nasap, Masterrmind, Luxing, Robinho, Yelena and many others who have contributed to the thread and also Hanover.
But, going back to my strategy, there are two variants. Over the last 3 months and they performing as follows: -
1. variant 1 is averaging about 98 pips/day with a win rate of about 75% averaging 20 trades/day.
2. variant 2 is averaging about 134 pips/day but only has a win rate of about 66% averaging about 32 trades/day.
The only difference between the two variants is that there is an additional filter on variant 1 which, as well as filtering out a lot of bad trades also filters out some good trades.
Both variants have a R:R of 1:1 (less spread - there is no commission as I'm UK based and using a spread betting account) and I use the SleepTight ea to lock in some pips.
My gut feeling says that the 130 pips/day is better as it's generating more pips...and more pips is good.
But I can't help feeling that, over the long term, the variant with a higher win rate might be the safer way to go (less draw down maybe).
Does anyone have any advice as to which way to go?