Off Road (Continued)

It's been a long while since I last traded with Off Road tecnique. Anyone interested might see the explanations and implementations here.

In my trades, I plan to risk 0,5% per trade and target a 5% profit overall or 3R per trade. I use a script to open trades and it arranges the lot size, so don't let the pip count confuse you. some positions will be larger some will be smaller, all depending on the risk I will take, i.e. stoploss range. I will also use an EA to close all trades when my trades reach the daily target (+5%).

That's the plan for now...

All right, I ended my day pretty early at +5%...

GBPUSD (+42 pips) / GBPJPY (+67 pips)

EURJPY (+30 pips) / CHFJPY (+10 pips)

NZDJPY (+13 pips) / USDJPY (+11 pips)

and finally GOLD (+31 pips)

yep, that's it for today. I felt a bit rusty at the beginning, but 7 out of 8 trades ended up as I expected and most of them could have reached the 3R target easily or could go even further. however, as this was the first day after a long time and I didn't have time to babysit the trades, I let the EA close them at my daily target...

OK, here I end my day with a deficit of -4%. I reached +4% at some point but then went into deficit. Actually I should have been at BE now, however after numerous attempts that ended at BE I moved stops of my latest 4 trades when price retraced and the US news was against me. That cost me extra 4% and I know I should work on that. I have been telling myself that the discipline is the key since Frankfurt open. Anyway, here are 2 trades that ended up well at 3R.

USDCAD (+25 pips) / EURCAD (+42 pips)



On the other hand, when I look at the larger view I quit my trades too early. These 2 went more than 100 pips each which could be converted to more than 10R. Maybe at the weekend, I should think on how to let the winners run. Larger view...

morning...

the last couple of days didn't end as I expected. due to trades that went into profit but ended mostly at BE, I decided to get my profit quickly, so I will be getting 1R for each of my trades. let's see what I will do with that. some trades from this morning:

EURNZD 1R



EURAUD 1R



AUDCHF 1R



GBPCAD 1R

OK, after my successful trades and failed ones I realized that 1:1 R:R was not a good idea. I had thought that I could achieve a ratio better than 50%. anyway, now I aim for at least 2R. by this way, I hope to have some room for my losses.

some more winners...

USDCAD 5R



GBPJPY 2R



GBPCHF 2R



my account is up around 3.5% at the moment. probably I will call it a day...

okkay, I reached my daily target with 5.88% increase...

last trades of the day...

EURAUD 3R / CHFJPY R1 / CADJPY R1

yesterday, I ended my day with a 4% deficit. there was nothing fancy about my trades. today, was a bit slow due to NFP but I managed to get 3% out of my trades 'till now...

NZDCAD 3R



NZDJPY 3R

last closed trade of the week. at first, I aimed for 5R, a level which coincides with daily pivot, then I changed my mind and took my profit at 3R.

AUDUSD 3R



and I left 2 positions open with the expectation that they will go my way with the new week. what makes me nervous is that I removed the stops because the spread widens with the market close, and I didn't want to get stopped out. tactically I know that this is a mistake, but I have reasons to believe that the price will go down on Monday. I hope market doesn't open with a gap against me...

AUDCAD

and my account status... it has been 8 days since I started writing here. last week (first 3 days) didn't meet my expectations, but this week I was up around 7%. I had some a-ha moments, and I hope to do better by applying them to my trading. we'll see it next week...

morning...

last night, although the market gapped down at the open, I was not comfortable with my trades as they were over-leveraged. so I decided to close them both for about 1% profit. it could have been better, but it's better than nothing. these are not Off Road trades by the way...

AUDCAD 1Rx2

morning...

last week, I struggled to find a good and consistent way to open and manage the trades. after 2 weeks, I'm still at a breakeven level...

at the weekend I reviewed my trades and my psychology while I was in them, then I decided to change my style back to pip count for a certain percentage, instead of R:R calculation. the reason is that, when trading with R:R calculation, I tend to trade with really tight stops which makes me nervous and eventually causes the trades hit the stop most of the time. surely, I get good reward when I am right but the stress doesn't worth that in my opinion. for this reason, I changed back to a trading where I determine a certain pip count for the daily target and daily stop. I hope that will make me more comfortable in my trades. and I will try to keep the winners run further by looking at HTF charts. anyway, time will show if I will be able to successfully apply my ideas.

this morning I shorted EURUSD at the level where I drew a red rectangle, then added up some more as the price went further down. the highest drawdown was about -16 pips. I moved common stop of trades to BE which is about 30 pips above the current price. now I will wait for the price to go further.

EURUSD M5

I later on added 2 more positions. now, I have 10x my normal position size with no risk. I moved the common stop to +100 pips which doubles my daily target. so in any case I finish this day in profit...

EURUSD M5

morning...

I had high hopes for yesterday's positions. I was thinking of closing them at about 1k-1.5k pips around 1.10. however, price stayed flat during the asian session, and climbed up sharply after a fake down move in the morning. then I thought it might retrace more with the London open and I closed them all for +300 pips. I still believe that the down move will continue today but I just didn't want to miss the birds in the hand.

EURUSD +300 pips

today I'm trading AUDNZD. I have 10 short positions, stops at BE. so, I will wait for it to drop further...

AUDNZD M5