Steady Pips Strategy: Weekly Hedging

Steady Pips by Weekly Hedging

The following Strategy was originally inspired by Dr. M. Giavon from "Unconventional Forex Trading" on YouTube but I have changed it up a lot:
https://www.youtube.com/@UnconventionalForexTrading

Attention:
I don't want rude people in this thread. Be kind to each other and we can all profit together.
Also this is not the Holy Grail and in order to make it work you need good understanding of the markets (probably even a lot more than I do).

In this thread I want to give you a weekly update to the strategy (mostly on the weekend) and explain my thought process behind my decisions.
You can find the basic concept and rules in the first attached Excel Screenshot!

Week 2 of trading the strategy (17/07/23-23/07/23) has come to an end and I want to present you the results:




So far we are 1,79% in profit which is good. The motto is "Steady Pips"!

According to the analysis I bought every AUD cross and sold all the GBP crosses this week.
Here is an example of how the trades look like:



Notice how I said AUD was strong in the spreadsheet? Well guess what: I was wrong . But in the end it doesnt matter because I was right on GBP being weak and the profit from there was way bigger than the small losses from AUD.
Btw. the best currency to buy would have been CHF.

Doubling the size on the Major Cross trade (where both currencies cross so GBPAUD in this case) can give you bonus gains.

What I use:
Curreny Strength Meter: https://www.forexmeter.de/
Sentiment: https://forexclientsentiment.com/client-sentiment
Elliot Wave: https://elliottwave-forecast.com/elliott-wave-theory/
(Well I guess you just have to put in the work and study ^here are the basics tho)
The MT4 EA: https://www.mql5.com/de
(I use the EA to close all orders as a basket when either SL or TP is hit. The time exit I do manually.)

Feel free to ask questions and I will answer whenever there is a free minute !
Ideas to improve on the current strategy are welcome!

I am by no means a trading master so be patient and expect to see some losses in the future
This is just a way to maybe give you some new trading ideas and myself a way to hold me accountable.

This is the update for next trading week:

I have thought about it for a while and came to the conclusion that it is probably better to trade 4 currencies so the equity curve gets smoothed out so here is the updated strategy (I have also improved the Excel dashboard a bit):



The first look goes into last weeks Currency Strength Meter (most important are thursday and friday):



From here we select 4 candidates to trade. EUR and AUD look strong. On the other hand CAD and USD look like they want to be sold because they are extremely overbought. Let's move to the next step which is checking for Sentiment Confluence.



Retail is heavily long USD and CAD which is a really good sign because you always want to trade against retail. They also want to short EUR and on AUD we have mixed feelings in the market but I want to try it.

Now that we have done our DD let's do some chart analysis. Remember we only hold the positions for about 2-3 days, which means a 4h timeframe analysis should be good enough.



I believe EURCAD could see another wave up.



AUDUSD is still valid for a buy but things can change quick so hopefully it is the right call.

Having done all this I think buying EUR and AUD, as well as selling USD and CAD will give me a good result.

Let's see how it turns out

Thanks for illustrate. Good work. Keep going.

Okay I am going to change the strategy again. The reason is that I made a big mistake today and instead of trading 0.15 Lot per pair I traded 1.5 Lots. This meant that the account basically instant breached the 1% Stop Loss due to spread and commissions. This sucks but mistakes like this happen. Thats why we test new strategies on a Demo Account.
But it has a positive side because it enables me to reset the Account Balance to 100k and start over with the changes to the strategy:

I will be trading the strategy more like Dr. M. Giavon and hedge all currencies at the same time but only trade 8 positions at the same time. For this week it looks like this because nothing has fundamentally changed from my last post (look at the Currency Panel framed in light blue):

its been long year mate .. finding person who working with Dr. M. Giavon Strategy .... are you still working same Strategy ... can please reply

Hello...

I dont know where you are at with this Strategy, but i just wanted to say that, in my opinion Marco Giavon is perhaps the only Retail Trader who really figured out how to profit (constantly) by using Forex Pairs.

I heard that unfortunately his health is bad......!!! I am just hoping that this just rumor and that he is drinking cocktails on a Beach somewhere.

I mailed him a few weeks ago....but no answer.