Hi.
After studying and experiencing the market for a few years I think I found a system that fits my skills, psychology, comfort level and goals.
I've been demo-trading this system for 2 months with great success. I look at daily-timeframe setup, research and feel fundamentals/sentiment/markets-correlations and enter at 4h timeframe. My stops are 20, 30, 40 and 50 pips and my TP are 2:1, 3:1, 4:1 reward:risk. My risk is 2% only, no pyramiding. I made 15 trades on April with 10% profits and 20 trades on May with 24% profits. My biggest drawdown was 7.5%. And my trades can last from a few minutes to 2 days.
Its not news-entry strategy, but I may be already in trade during some important news. This strategy works with all pairs and also with commodities (didnt check stocks yet). I want to continue demo-trading it till 1st of July, then trade 3 month live with 250$ account and then move to large live account. I've been using demo of well-known Utah MM broker with my favorite MT4 platform and would like to use it in live trading also.
BUT !
As u can see, my shortest SL is 20 pips and sometimes my trades last for a few minutes. Is it "scalping" or not? When I'll start live-trading could MM broker (and this Utah one in particular) make me problems by manual execution and hitting my "small" 20-30 pips stops intentionally, freezing and slippering me hard (as I read in some threads MM brokers treat scalpers) ? Should I use ECN broker instead for this particular strategy?
Thanks !
After studying and experiencing the market for a few years I think I found a system that fits my skills, psychology, comfort level and goals.
I've been demo-trading this system for 2 months with great success. I look at daily-timeframe setup, research and feel fundamentals/sentiment/markets-correlations and enter at 4h timeframe. My stops are 20, 30, 40 and 50 pips and my TP are 2:1, 3:1, 4:1 reward:risk. My risk is 2% only, no pyramiding. I made 15 trades on April with 10% profits and 20 trades on May with 24% profits. My biggest drawdown was 7.5%. And my trades can last from a few minutes to 2 days.
Its not news-entry strategy, but I may be already in trade during some important news. This strategy works with all pairs and also with commodities (didnt check stocks yet). I want to continue demo-trading it till 1st of July, then trade 3 month live with 250$ account and then move to large live account. I've been using demo of well-known Utah MM broker with my favorite MT4 platform and would like to use it in live trading also.
BUT !
As u can see, my shortest SL is 20 pips and sometimes my trades last for a few minutes. Is it "scalping" or not? When I'll start live-trading could MM broker (and this Utah one in particular) make me problems by manual execution and hitting my "small" 20-30 pips stops intentionally, freezing and slippering me hard (as I read in some threads MM brokers treat scalpers) ? Should I use ECN broker instead for this particular strategy?
Thanks !