I'm starting to test a new trading strategy. New for me, at least. I experimented over time with a few systems from other people, but nothing convinced me. I didn't find anything I can compare with trading my own decisions. I don't like signals, I don't like MA's, I don't like systems or EA's. I just like to look at charts, draw some basic tech lines and that's it. Keeping it simple, baby.
I finaly found something that suites me the best. Being a person that likes making decisions, I was often frustrated by the fact that I had little practice opportunities. And don't tell me to check on smaller timeframes for more "signals", I don't like small timeframes. They're noisy and unpredictable, so it's just gambling for me. So I started to take more decisions, opening more and more positions at the same time.
I just follow this theory: The more decisions you make, the better, statistically, your odds of success are. The more decisions you make, the better you'll become at making them. I can train my eye and brain more intensively by doing this. I also see results quicker, even though I use large timeframes.
This will be just an experiment. I just opened my first live account, but for a few weeks I will only do trades on the demo. When time will come, decisions will start going live, and I'll write about that here.
Basicaly, what will I be doing here?
Well, I'll take as many trading decision as possible and open positions. Decisions will be pure technical, on large timeframes, and they will be independent. For example, I would not care if I open a long AUD/USD and a short EUR/USD at the same time (contradiction with the USD, as you may see). I will just do the tech analysis on every chart, and if it seems right to me, I'll jump in with a long or short position. I will try to do this every day, but there will be periods when I'm out of town, or really busy with my life. So don't expect decisions every day, though I will try to do that.
I always set stop losses and porfit targets when opening a position. The SL's and TP's will also be based on pure technical. I will determine the exact position size based on how far away my SL should be. I just take the acceptable risk for one trade, divide it by the number of pips I neet to set my SL at and this will give me an idea of the pip value. Then I will size my position to suite the pip value.
I'm not yet sure about when to close a trade. Until now, I never let a trade reach the TP, but maybe this will change in the future. We shall live and see.
I'll post the backward trades I did in the first two days (tomorow is the third one) and their results a bit later. Then, I will continue to post decisions as I make them, and update them with results as soon as I get them.
Wish me luck
I finaly found something that suites me the best. Being a person that likes making decisions, I was often frustrated by the fact that I had little practice opportunities. And don't tell me to check on smaller timeframes for more "signals", I don't like small timeframes. They're noisy and unpredictable, so it's just gambling for me. So I started to take more decisions, opening more and more positions at the same time.
I just follow this theory: The more decisions you make, the better, statistically, your odds of success are. The more decisions you make, the better you'll become at making them. I can train my eye and brain more intensively by doing this. I also see results quicker, even though I use large timeframes.
This will be just an experiment. I just opened my first live account, but for a few weeks I will only do trades on the demo. When time will come, decisions will start going live, and I'll write about that here.
Basicaly, what will I be doing here?
Well, I'll take as many trading decision as possible and open positions. Decisions will be pure technical, on large timeframes, and they will be independent. For example, I would not care if I open a long AUD/USD and a short EUR/USD at the same time (contradiction with the USD, as you may see). I will just do the tech analysis on every chart, and if it seems right to me, I'll jump in with a long or short position. I will try to do this every day, but there will be periods when I'm out of town, or really busy with my life. So don't expect decisions every day, though I will try to do that.
I always set stop losses and porfit targets when opening a position. The SL's and TP's will also be based on pure technical. I will determine the exact position size based on how far away my SL should be. I just take the acceptable risk for one trade, divide it by the number of pips I neet to set my SL at and this will give me an idea of the pip value. Then I will size my position to suite the pip value.
I'm not yet sure about when to close a trade. Until now, I never let a trade reach the TP, but maybe this will change in the future. We shall live and see.
I'll post the backward trades I did in the first two days (tomorow is the third one) and their results a bit later. Then, I will continue to post decisions as I make them, and update them with results as soon as I get them.
Wish me luck
