I finished out my trades. Even though it looks bad I did several scalp trades that made my losses much lighter than they appear. I posted this system last May and it was my first losing month. Just got caught on these long trends that just wouldn't retrace. The Good news is my account is healthy and ready for next year. In the past without the 2.4.2 recovery system I would severely damage an account but I am pleased for as bad as things went. Some of the pairs still have not retraced after three weeks so to me that is good news even though it was a bad spot on a good year.
TAKE PROFITS
CLOSED FOR LOSS
aud/cad -232 -154 -35 +36
eur/cad -157 +52
eur/usd, -186 +4
usd/chf -92
usd/jpy -263 2L -10
OPEN TRADES
TOTALS
total for day
-1037 for the week
-1006 for the month
Carry over 0
primary trades
BUYS
SELLS
Secondary trades
BUYS
SELLS
OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy
aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.
chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd
gbp/jpy - gbp/usd - usd/chf - usd/jpy
Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.
Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility.
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.
TAKE PROFITS
CLOSED FOR LOSS
aud/cad -232 -154 -35 +36
eur/cad -157 +52
eur/usd, -186 +4
usd/chf -92
usd/jpy -263 2L -10
OPEN TRADES
TOTALS
total for day
-1037 for the week
-1006 for the month
Carry over 0
primary trades
BUYS
SELLS
Secondary trades
BUYS
SELLS
OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy
aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.
chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd
gbp/jpy - gbp/usd - usd/chf - usd/jpy
Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.
Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility.
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.