#001
Traded 3 pairs today and closed out for 4.5% loss in total.
NZDJPY
CHFJPY
SGDJPY
Transferred 100$ SGD to a fresh Oanda account to test out probability based trading.
Took 9 trades today during Asian Session, all of it is JPY pairs, risking 0.5% per trade. Every pair I decide to enter, I would enter 3 trades, going for 1R, 2R and a maximum at the next Major Support and Resistance. Trailing Stop Loss through Happy Meal Trailing Stop Loss.
I am going to try this strategy for a month, and will be trading on the 15 Minutes Time Frame. Actually wanted to trade this strategy on the 3 Minutes Time Frame, but i entered on the wrong Time Frame LOL. The 3 Minutes Time Frame's indicator settings would be slightly different from the 15 Minutes Time Frame's indicator settings.
4 Hour Time Frame
10EMA / 20EMA
Hourly Time Frame
10EMA / 20EMA
15 Minutes Time Frame
10EMA / 20EMA
Scanning of potential Trending Markets and Setups would be based on the Moving Averages only. When 10EMA crosses the 20EMA on the 15 Minutes Time Frame, I would then turn on the price to see where the current exact price is at, and use the current price ass my reference point for my Stop Loss. Stop Loss would be 3x the ATR(20), plus a couple of pips just for extra buffer.
Initially, I wanted to have a fixed Stop Loss OF 30pips for my Main Watch List and 60pips for my Exotic Watch List for simplicity, but have since decided against it because I would like to have smaller Stop Losses whenever possible. But there's gonna be pros and cons to whichever you choose, and it all boils down to whichever gives you a better sense of security, control and pleasure.
Correlated Markets
I do not care if I am trading correlated markets. I have a small sample size in March 2020 of about 6 weeks, trading the then Duck Hunting Strategy 2020, and I trade up to 8 pairs a day, I think, many of which were "highly" correlated, such as, GBPUSD, GBPJPY, GBPCHF, or the 3 forex pairs I traded today, CHFJPY, NZDJPY and SGDJPY. After the 6 weeks I made about 20%+ I think. Again, small sample size. I would probably need about 800 trades before I could safely conclude the my true win rate.
Risk Management
I am going to risk 0.5% per trade.
And if after a month, at October 8th 2022, I have negative balance, or am not showing much positive results, I would stop trading this strategy.
---
It is difficult to juggle between strategies and their Higher Time Frame and Entry Time Frame are the same, with similar settings, so, I hope that if this strategy could work, I might look to automate it or get my partner to trade this strategy with my guidance.(Sound like I am trying to sell something LOL. But I am not. And I am too tired to have extra commitments in life when I just hope I am the 50% that Thanos snapped at).
PS : Will be trading this strategy everyday regardless of PNL for a month, totalling 22 days I think. To 8th October 2022.
Traded 3 pairs today and closed out for 4.5% loss in total.
NZDJPY
CHFJPY
SGDJPY
Transferred 100$ SGD to a fresh Oanda account to test out probability based trading.
Took 9 trades today during Asian Session, all of it is JPY pairs, risking 0.5% per trade. Every pair I decide to enter, I would enter 3 trades, going for 1R, 2R and a maximum at the next Major Support and Resistance. Trailing Stop Loss through Happy Meal Trailing Stop Loss.
I am going to try this strategy for a month, and will be trading on the 15 Minutes Time Frame. Actually wanted to trade this strategy on the 3 Minutes Time Frame, but i entered on the wrong Time Frame LOL. The 3 Minutes Time Frame's indicator settings would be slightly different from the 15 Minutes Time Frame's indicator settings.
4 Hour Time Frame
10EMA / 20EMA
Hourly Time Frame
10EMA / 20EMA
15 Minutes Time Frame
10EMA / 20EMA
Scanning of potential Trending Markets and Setups would be based on the Moving Averages only. When 10EMA crosses the 20EMA on the 15 Minutes Time Frame, I would then turn on the price to see where the current exact price is at, and use the current price ass my reference point for my Stop Loss. Stop Loss would be 3x the ATR(20), plus a couple of pips just for extra buffer.
Initially, I wanted to have a fixed Stop Loss OF 30pips for my Main Watch List and 60pips for my Exotic Watch List for simplicity, but have since decided against it because I would like to have smaller Stop Losses whenever possible. But there's gonna be pros and cons to whichever you choose, and it all boils down to whichever gives you a better sense of security, control and pleasure.
Correlated Markets
I do not care if I am trading correlated markets. I have a small sample size in March 2020 of about 6 weeks, trading the then Duck Hunting Strategy 2020, and I trade up to 8 pairs a day, I think, many of which were "highly" correlated, such as, GBPUSD, GBPJPY, GBPCHF, or the 3 forex pairs I traded today, CHFJPY, NZDJPY and SGDJPY. After the 6 weeks I made about 20%+ I think. Again, small sample size. I would probably need about 800 trades before I could safely conclude the my true win rate.
Risk Management
I am going to risk 0.5% per trade.
And if after a month, at October 8th 2022, I have negative balance, or am not showing much positive results, I would stop trading this strategy.
---
It is difficult to juggle between strategies and their Higher Time Frame and Entry Time Frame are the same, with similar settings, so, I hope that if this strategy could work, I might look to automate it or get my partner to trade this strategy with my guidance.(Sound like I am trying to sell something LOL. But I am not. And I am too tired to have extra commitments in life when I just hope I am the 50% that Thanos snapped at).
PS : Will be trading this strategy everyday regardless of PNL for a month, totalling 22 days I think. To 8th October 2022.
Hi bye mai hai
