I have decided to start a new thread to discuss my trading journey with a daily breakout system I have been experimenting with over the past couple months.
Since I have a full time job, this strategy suits my time limitations. For now I am looking for a simple system for daily TF that doesnt require constant monitoring.
The system is based on OrangeRoshans SRDC I with some minor changes. Whilst these threads have been fairly inactive in recent years, I still beleive this system still has some potential (I still am not sure why the threads have died down?)
After some forward testing I will be running this with a £500 account using max risk of 10% per trade (I am comfortable with this level in order to grow account)
The rules are as follows
Pair: EURUSD
Entry: Previous days hi/lo + spread + 2 pips
Stop Loss: 25 pips
Take profit: 15 pips
Move SL to +2.5pips once the trade has hit 5 pips profit
All trades are placed and managed by an EA
I have back tested this from Jan 2010 to current day. The results are promising. I do not think that testing any further back would be relevent since markets change so I am more concerned about more recent performance. I am only focusing on EURUSD as i've spend time optimizing the parameters.
I have attached the results of testing since beginning of 2011.
Starting with £500, this would have returned a profit of £2837 and 12 losing trades out of 143 (91.6% win rate). Modelling quality is 90%
I am a new trader, so go easy if i've missed something obvious! The purpose of this thread is to document my thoughts, but more importantly to get opinions/suggestions from traders that are experienced with similar system.
Since I have a full time job, this strategy suits my time limitations. For now I am looking for a simple system for daily TF that doesnt require constant monitoring.
The system is based on OrangeRoshans SRDC I with some minor changes. Whilst these threads have been fairly inactive in recent years, I still beleive this system still has some potential (I still am not sure why the threads have died down?)
After some forward testing I will be running this with a £500 account using max risk of 10% per trade (I am comfortable with this level in order to grow account)
The rules are as follows
Pair: EURUSD
Entry: Previous days hi/lo + spread + 2 pips
Stop Loss: 25 pips
Take profit: 15 pips
Move SL to +2.5pips once the trade has hit 5 pips profit
All trades are placed and managed by an EA
I have back tested this from Jan 2010 to current day. The results are promising. I do not think that testing any further back would be relevent since markets change so I am more concerned about more recent performance. I am only focusing on EURUSD as i've spend time optimizing the parameters.
I have attached the results of testing since beginning of 2011.
Starting with £500, this would have returned a profit of £2837 and 12 losing trades out of 143 (91.6% win rate). Modelling quality is 90%
I am a new trader, so go easy if i've missed something obvious! The purpose of this thread is to document my thoughts, but more importantly to get opinions/suggestions from traders that are experienced with similar system.
Attached Image (click to enlarge)
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