M15 Trading Method (help required!)

Out 4% that will do good day

5 trades this week and no losers, 9 positions with the averaging down.


MY SL cost is scarey but it's that big for a reason and that's only emergency's shouldn't be hit often in normal conditions so thats cool.



Not increasing my Lot sizes till I hit $500 atleast, the 4 - 3 - 2 has a $50 risk so 10% fine but $91 profit today at that, rather than $64.


I expect no trades tomorrow, so need 4 months area at 30 - 40% per week to get to a wage level, but hey time flies quick these days.

Good week +40%, a quick look at todays charts and I see no positions I'd of entered which would of lost, GU off the 1300ema area was the best setup and worth 100pips area hmmmm.

Next week will be tricky to trade at all, might be able to get some time Monday as client doesn't watch over me to much, Tuesday no chance meeting with boss, Wednesday meeting with big bosses then kids to baby sit.

Thursday maybe.


NEED TO QUIT WORKING!!

Back testing is still looking acceptable so no changes to the plan.


Lack of time, but hopefully I'll spot a good setup or 3 over the week and hit my 30% target, we shall see.

Really could do with a run of 100%+ weeks to get to full time trading asap but life is never that easy.

Regretting not taking ej this morning at the 1300 and low of range quick 6% there woulda started me off nicely.

FXCM wouldn't log on back then, working currently ofcourse wanted some USDCAD I'd be +40pips here to

Slow day nothing is getting near the first range line really, only usdchf earlier which I missed and woulda worked bouncing off the outter line and 540.


FOMC speaking I guess have everyone waiting.

XMAS Slow down or what tonight.

Tempted to set orders a bit below USDCHF's current price incase there is a pull back to enter on over the night the rest is just dead.

Added XAU/USD ( Silver ? ) to my trade list, had a few okay trades today when forex was dead, trends better.

Regretting not setting up those USDCHF orders cause they've be +100pips here.

XAU/USD performed well to the method depsite the nuts thats been going on this am.

Confidence is high, but spirit to trade is lacking.

Taking a shot at GBP/JPY Long here, sitting over the 1300ema, some buyer signs and US market 35mins from sparking up, double bottom also.

3 - 2 - 1 60SL standard.

Will it turn back up in time, odds are hugely in my favour but we shall see.

2nd position just filled, starting to look scarey but thats normal.

Average 123.85.

Us markets about to start normal trading so we'll see, not a USD pair so won't care to much hopefully.

Buying on all charts

Okay this isn't looking good, BONES is starting to look likely.


But hey, maybe the selling will dry up and it'll reverse.


Better get out, will find out the result later, min exit 124.5 would like nearer 125 if not then risking a lot for less long term is a poor plan.

Nice lets see if its got more in it hey!

Dont want to risk another selling wave 2nd half us session and stalled so out +8% not so bad

My little account is growing nicely. see attached.


Good call for once on taking profits earlier I see, selling kicked back in as theorised.


Pretty good for a simple system mixed with some long term experience.



XAUUSD could be a buy down here, but risky at this time, hmmmm!!

Been crunching the numbers, current 3 2 1 SL 75 has a SL'd cost of $35, 11% of current account, rarely get SL'd with that SL / my method so okay with that.

But I want to increase my lot sizes and constantly have a falling risk % dropping to 5% area ultimately.

To trade at 6 - 4 - 2 75sl I'll need $900 thats a $70 risk or 7.7%

Okay it took 2 months to triple the account just under call it 6 weeks due to improvements and improved laptop allowing for more trades being taken, today was tricky but I'd of made $45.

Basically without being to risky there is a LONG LONG road ahead of me before I can take a wage of even $2000 out per month I'll need atleast 5K if not 10K.

Realistically 6months to 5K, 9 months to 10K

To damn long!!

USDCHF Long here I think, 3 - 2 - 1 60sl and not liking the action here, major selling might of screwed this 1 up.


Errrmmm, to bail or not to bail!!

Buyers finally, thought that was in a death spiral for a bit then, US Pre Markets have kicking in and some buyers

2nd position in, loads of red news soon.

Keep it up man and don't get too risky. You are undertaking the ultimate disipline tester, small account to an income generating sized account. I could never do it and didn't start having success in forex untill I bit the bullet and sunk a large amount of money into a proper sized account, but you seem to be doing very nicely. Good luck to you mate