The Lazy Man Daily Trading Plan...

Ok, so I have been doing some research, and would like to get some validation on said research.

This trading plan is stupidly slow, 13 trades in 5 years (AUS/USD). However the return is stupidly positive. Now to find a broker who would support this kind of investment. And I say investment, as one trade went for 217 days.

Basis of the plan:

Daily Chart.
15 EMA on Close
182 EMA on High + 0.02 (5 Digit Broker +150Pips)
182 EMA on Low + 0.02 (5 Digit Broker -150 Pips)

When the 15 EMA closes above the Modified 182 EMA High. Go Long.

When the 15 EMA closes below the Modified 182 EMA Low. Go Short.

Close the trades when the 15 EMA reverses under (182 EMA High long) or over the 182 EMA Low Short).

Thoughts opinions?

Below is a chart with the testing shown.

This seems like a system you would use for long term trading and would require quite a bit of patience to execute.

I see the drawdown was quite large (66%) and that may be a problem. What if you were unlucky to start trading this system just before the drawdown period started?

If you have the data you should backtest it for even longer periods and other currencies to see how it performs...

Well you are on your way. Forget the 15 ma, and just trade price moving out of the channel. add lots every time you are a few hundred pips in profit. The big drawdown occurs when price hovers around the channel and you get whipsawed in and out. by starting out with a tiny amount of risk and then adding in when trending occurs, the whipsaw times are much less painful.

It is a great strategy. I like this strategy. However, I am looking to see if you can set up a Target (for example, 200 pips) for every trade.

So that you will not end up losing some pips on those trade.

Another better way is when you are +200 pips, exit the trade when the price is touch below or over 15 EMA.

Is it a good suggestion?