GBP/USD - one trade a day

Wow! Today's 110+ pip GU candle really helped this strategy today. Positive at last for April

These are the ones we wait for.

we are on the right side of the news today. 110 pips in 1 hr

Just under 1% profit (0.85%) for the month of April.

As previously posted, I adjusted the time and continued trading with UK local times. i-e GMT+1 following DST change.

For April the results were 18 trades, 11 wins and net profit of 91 pips. Since I only risk 1.5% of capital per trade, this equates to a profit of 4.86%. If I had opted for 2.5% risk per trade the return would have been 8.13%. The most satisfying aspect was that the maximum drawdown of only 4 pips, which happened on the first day of trading. In addition, I have learned a great deal about the London opening session.

Since it is working for me (it has worked in March 2011 too), I will continue to trade this strategy going forward. Please note that this is not a trading advice and anyone who wants to trade this strategy should do their own research.

See attached the results.

Happy trading.

Alright, way to go! 3 months without hitting target... could May be the one that gets it back on track??!

2 stops and one no-show so far in this month

92 pip move in our direction, finally closed with 56 pips profit

May has been a terrible month, down like 25% with original settings. is it a concidence that we have day light saving in london in this month ? somebody is trading after applying DLS. how is that going?

lol. we already met the june target, we had a 80 pip profit today

another big move today, 62 pips profit

I liked the ideas around this trading method so I started to forward testing it. I have been applying day light saving always taking entry at London opening UK local time.
My results is:
2010 dec Target hit +10%
2011 jan Target hit +10%
mars Loss -9%
april Target hit +10%
may Loss -0.1%
june Loss -17.8%

It looked suprising in the beginning but with june and 15 trades reaching the stop loss on 20 pip almost all previous profit got erased. Could day light saving have something to do with it? However not comfortable at all to have loss streaks like in june. Hopefully it is a one time disaster but thinking about adapting a rule to stop trading for the month if I get a loss streak with 5 losses in row or so.

i am following original rules. got 80 pip profit on july 1st and again another 70 pip profit today.

Yes I see that the orginal rules would have saved june and july. However it doesn't make any sense for me to trade the london open candle in the winter and trade the news candle in the summer (10:30 am london). Maybe try to trade both candles and also the US news candle (14:30).