This is a demo Journal of my updated "Do It Yourself Trading - An Art of Probability” strategy. Too much system and indicators out there, I tried, but failed. So I will do it my way!!
Trading Elements:
Chart: Candlestick (need only 1 candlestick to focus)
Timeframe: Daily
Indicators: None
Entry: 3:00 am to 5:00 am (time I usually get up from bed)
Exit: 5:00 pm to 5:00 am (before punching out from work) or (before bedtime) or (before entry time the next trading day) (you have to closed all open position before opening a new one)
Stop Loss: None
Free margin level: 400% to 300% (enough to contest drawdown & volatility of the day)
The Strategy:
Entry Rule 1. Enter position in the direction of the last candle of the daily chart. (simple as that)
2. Repeat rule no. 1 for the remaining pairs until free margin reached to 400%-300%. (the higher the better)
3. Same lot size
Exit Rule 1. Just follow exit element regardless of outcome (either + or -). (just like that)
It’s like a daily routine. Open trades when you wake up and closed at bedtime.
This is a zero sum game. A game of probability. The strategy’s success depends upon the no. of daily winning trades than the losing one. The odds of getting more W than L is to have more entries in different pairs, proper lot sizing will do the trick. I will post no chart, only daily results, as I rely mainly to a single candlestick. Target is 50K from 1K, before bringing this updated strategy to live. (I have a running live account based on this strategy but with different trading elements). Again, this is more on probability and balancing market movement. The world is very stressful. Why complicate things? So wish me luck.
Trading Elements:
Chart: Candlestick (need only 1 candlestick to focus)
Timeframe: Daily
Indicators: None
Entry: 3:00 am to 5:00 am (time I usually get up from bed)
Exit: 5:00 pm to 5:00 am (before punching out from work) or (before bedtime) or (before entry time the next trading day) (you have to closed all open position before opening a new one)
Stop Loss: None
Free margin level: 400% to 300% (enough to contest drawdown & volatility of the day)
The Strategy:
Entry Rule 1. Enter position in the direction of the last candle of the daily chart. (simple as that)
2. Repeat rule no. 1 for the remaining pairs until free margin reached to 400%-300%. (the higher the better)
3. Same lot size
Exit Rule 1. Just follow exit element regardless of outcome (either + or -). (just like that)
It’s like a daily routine. Open trades when you wake up and closed at bedtime.
This is a zero sum game. A game of probability. The strategy’s success depends upon the no. of daily winning trades than the losing one. The odds of getting more W than L is to have more entries in different pairs, proper lot sizing will do the trick. I will post no chart, only daily results, as I rely mainly to a single candlestick. Target is 50K from 1K, before bringing this updated strategy to live. (I have a running live account based on this strategy but with different trading elements). Again, this is more on probability and balancing market movement. The world is very stressful. Why complicate things? So wish me luck.
