Testing System to conquer Prop Firms Challenges

Hi, all welcome to my trading journal.

For the last couple of months, I have been working on developing a strategy that I can use to take on the prop firm challenges. More specially this system is made to trade for CTI and 5%ers. The backtesting results have been fantastic so now for the next 3 months I will be doing some forward testing to see if I can follow the rules of the strategy in real-time.

If all goes well the end of 3 months will test it in a live environment for another 3 months before the paid prop firm challenges.

This journal is mainly to record my trades for the next 3 months to see how things pan out.

I already have a profitable strategy that I am running on the different funded programs and have a separate journal for that. If you want you can check it out here

The markets I plan to test out with this new strategy mainly are as follows:

FX: AUDUSD, GBPUSD, GBPJPY
Metals: Gold
Indices: DAX. US30 and Nasdaq
Cryptos: Bitcoin and Etherium

The active timeframe for trading is from Frankfurt open to London close. Crypto traders will be taken when setup appears.

Of course, if some setup appears on different pairs will take it. The idea is to take as many trades as possible, on as many markets as possible, to see if the forward testing result matches that of the backtest.

Will be starting recording trades from today which is the 1st of March 2021.

The first trading day for the new system is over.

Not the ideal start I was looking for but it is what it is.

Today took 4 setups. Only 1 of them worked the rest was losers. The main thing was the risk was managed properly on the losing trades.

Going forward I will limit the exposure to a specific currency pair and one trade open for a pair at a time. Today had trades open on GJ and GU at the same time and again on GU and AU in the same direction. This resulted in the compounding of losses.

Missed a perfect trade on Etherium today.

From tomorrow will be positing charts when I take the trade and another one when I close it so I can track it better.

Trades entered sell GJ


Trades entered sell GU



Both trades are broken down into 2 parts. Let's see how they play out today.

Day 2 was a loss as well. Tried to manage the loss but didn't go exactly as planned.

The big winner for today was my trade on Bitcoin.



The thing I was not able to do was to hold the trade as I did in my backtest. This is one area I will start working on from tomorrow. Had few more trades, the bitcoin trade was perfect example of my entry criteria.

Day 3 was profitable nearly covered all my losses from the previous days.

Today am watching few pairs to trade. Today will mainly at trading GJ. The areas I am watching outlined below. Will match it at the end of the day and see how my trades go in this pair.




Also looking at going long on DAX if it breaks the resistance and going long on Etherium too if the setups appear.

Maybe consider getting the Blahtech Supply Demand indicator from mql5DOTcom for mt4 or mt5 for your swing trades. It will draw your boxes in for you and create less work and more opportunity on more indices. The first pic is a short trade I took on bitcoin several hours ago using boxes drawn by the indicator. you have a huge advantage...because every swing trade starts with one of your awesome scalp trades! The second picture is a scalp on gold that ended up going $30 down to $1,700 that started on the 1 minute chart...using the sup/dem indicator. Hope this helps in your new swing trade adventure.

And, if a 15 minute or higher box is broken, consider reversing your trade if it's during high volume times. Generally, a 6-8 pip stop on the other side of the box is a good place for a stop; depending on the pair.

Thank you for your input man. Really appreciate it.

The reason I draw the line myself is I remember them better. Trying to trade from zone to zone and leaving a small position to run after securing profits. Good trade on BTC over the weekend. I usually rest during the weekend. Like the saying goes all work and no play makes Jack a dull boy