The toughest part about forward testing my system is when my trade is up 100 pips or more. I naturally want to close my trade. Back testing has shown that if I stay in the trade I will make huge gains but it is a mental challenge when forward testing with a live account. I know that I have created a great system and I must not let my emotions take over.
Trade six is turning out to be a great trade. So far we took profit on half of our position and the secound half is guaranteed about 70 pips. Now we will see how many pips we can squeeze out of this trade. My largest gain during back test was over 800 pips for one trade. I hope we can do that on live testing.
Current status of trade six: If we are stopped out we will have +230 pips on second half of trade plus the +33 pips from the first half. So we are gauranteed +266 pips for this trade. This is the kind of results we had during back testing so as of now things are looking great.
Current status of trade six: If we are stopped out we will have +271 pips on second half of trade plus the +33 pips from the first half. So we are gauranteed +304 pips for this trade. It is exciting when you get a trade like this one but man it makes for a long weekend when you are waiting on the market to open back up. All things are looking great and I may start checking other currencies with my system. the main requirement for a currency pair will be one that trends more than it gets choppy. If anyone has any suggestions for a currency pair please let me know. Thanks and happy pip hunting to us all.
Current status of trade six: If we are stopped out we will have +271 pips on second half of trade plus the +33 pips from the first half. So we are gauranteed +304 pips for this trade. It is exciting when you get a trade like this one but man it makes for a long weekend when you are waiting on the market to open back up. All things are looking great and I may start checking other currencies with my system. the main requirement for a currency pair will be one that trends more than it gets choppy. If anyone has any suggestions for a currency pair please let me know. Thanks and happy pip hunting to us all.
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GBP/USD looks good on back test. I will start forward testing it next. The back test results are good although not as good as GBP/JPY.
Current status of trade six: If we are stopped out we will have +271 pips on second half of trade plus the +33 pips from the first half. So we are gauranteed +304 pips for this trade. It is exciting when you get a trade like this one but man it makes for a long weekend when you are waiting on the market to open back up. All things are looking great and I may start checking other currencies with my system. the main requirement for a currency pair will be one that trends more than it gets choppy. If anyone has any suggestions for a currency pair please let me know. Thanks and happy pip hunting to us all.
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Hi Kevin.
Your System looks very promising. I will keep tab of your trades.
You are doing well with GBPJPY and are looking into GBPUSD now too.
Personally, I focus on GBPUSD. But I like AUDUSD and EURUSD too. I have read that GBPJPY and GBPUSD are best for their volatility SO if you are looking for suggestions for additional pairs, my suggestions would be AUDUSD, EURUSD, USDCHF, EURJPY and probably NZDUSD ranked based on priority.
SO if you are looking for suggestions for additional pairs, my suggestions would be AUDUSD, EURUSD, USDCHF, EURJPY and probably NZDUSD ranked based on priority.
EG
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Thanks El Grande........I will also look into the pairs that you mention.
