2 Minutes 2 Trades

This is a journal to record ongoing forward testing results using the method described in Paulus thread found at the following link:

http://www.forexfactory.com/showthread.php?t=360197

I love the idea behind this method as it helps avoid over-trading (it's very hard to only take 1 trade a day) and has a good R:R (1:3).

The only two differences to Paulus method is that I will be trading the first signal (long or short) after the Frankfurt open, and also the first signal (long or short) after the London open regardless of any bias. This will give me two trades per day instead of just one. Also instead of risking 5% per trade I will only be risking 2% per trade (as there are two trades and not just one per day).

Everything else (R:R, SL and entry signals) will be exactly the same as the Paulus 1 minute 1 trade method. If you don't know what it is then please visit the thread and don't ask here.

If anyone starts posting any other charts other than charts which follow (or at least attempt to follow) the method outlined above will be blocked from this thread.

The Paulus thread is already going that way and I just want to keep this journal clean and sticking to the above method.

However, any honest questions are welcomed and I will post charts with SL and TP starting Monday along with an ongoing record of results.

Paulus' results have been very promising, however on back-testing (thanks Strada!) taking the first valid signal without any bias has been even more promising, hence the reason for using this method rather the Paulus' original method, but only forward testing will tell.

Like I said first 2 trades Monday morning. Let's see what happens..

JPR

Update:
At the moment I am focussing on 1 Trade at Frankfurt Open with bias from 6am.

I will update the results sequence daily after each trade and I post charts live whenever possible.

Results Sequence since Monday 2nd July 2012

Month 1 - WLLLL LLWWW LLLLL LLWLL (5W/15L)
Month 2 - LLWLW LLLLW LWLL

JPR, Good luck with your new journal,
you won't need any luck trading this variation of Paulus's method though!!!

The stats for this are outstanding but as we all know backtesting is one thing, trading it live something else. But no losing days in the last 2 weeks I also look forward to tomorrow.

Full thanks and appreciation to Paulus for bringing the combination of his indies and MM to the forum, that is still the primary basis for the method here.

All the very best, strada.

good luck .. all helps how much better were the results with no bias ?

P

If I'm correct in remembering on a sample of 20 trades back a few weeks ago done by Strada, your method with bias gave 7 wins 13 losses (still profitable) however with no bias it was 13 wins and 7 losses (on both the frankfurt and london open). 20 is not a big enough sample I agree but even on this small sample it showed promise.

Strada has done the most extensive back and forward testing and has a spreadsheet of results with many more results than 20, but I will leave it up to him if he wants to post it or not.

I will be joining the party on this thread. This is my first post as I'm a new member to this forum but I'm looking forward to being a positive member and learning alot also.

I'm going to read the rules of the original thread so I can get up to speed and make sure that I understand them correctly.

Going to read the rules now so I can be ready to trade tonight. Will be trading this live from the start as I have a small trading account that I use for testing purposes.

Jpr,

I was wondering if it would be possible for you to post your charts once you have taken your trade?

I don't know where you live and your situation that's why I'm just bringing this up now.

The reason I'm asking is because seeing the trades as close to live as possible (hindsight is great but live is better) in my opinion is a better learning tool and trains one to spot the valid trades easier (at least in my opinion).

If this is not possible for you, I completely understand.

I really like the base foundation for this method and am looking forward to trading it and being a beneficial member to the thread.

From the look of Paulus' original thread, he is well on his way to Financial Stratosphere. I'm sure he will drop by from time to time so I just want to thank him now for sharing his orginal method.

I also want to thank you for adding your own twist and sharing as well.

I've went over the orginal rules and printed them out so I'm hoping tonight I will be able to get my feet wet and begin the journey to financial freedom for my family.

you seem to have good results

I just got done reading the orginal method and boy does it seem that things are beginning to get off track.

Now I see why you started this thread Jpr. I sure hope that does not happen over here in this thread.

I believe that I understand the system pretty well and that I'm happy about.

I will give a warning right now that because I'm new to this method I'm going to be posting my charts and hopefully that does not bother anybody since I'm a new member.

Seems we have a little more than two hours left before we can begin looking for valid entries so I'm going to watch some tv and then log back on later.

Well Frankfurt just opened so it's now time to look for a valid setup.

Hopefully my understanding of the rules is correct. Once I believe a valid trade has set up, I will post a chart for all to look at and let me know if I was correct with my trade or if I was wrong per the rules.

With adding an extra trade the most one can lose is -10% in one day and the most one can gain is +30% in one day.

Lets hope there are more +30% days than -10% days.

Here is my chart showing what I believe to be a valid short entry. I would greatly appreciate it if Jpr or anybody else who has a sound understanding of this method would check the chart and let me know if the trade is valid.

Entry = 1.26248
SL = 1.26288
TP = 1.26128

Chart

without bias this is the setup I believe

Not taken as its too early for me and no account has been set up to trade this as yet

P

You don't even need more with a 1:3 R:R.

Your signal

I'm taking trades from 07:00 and 08:00 MY TIME. I live in Wales,UK.

That trade was taken at 06:00 my time.

yes ok will adjust Im 10miles south of London UK

The London Open brought a buy opportunity that turned out to be a loser if i'm understanding the method correctly.

Not a big deal as the total tally for the day is +10% in just two trades.

I did not make a chart because my other chart still have not been accepted (still a Junior Member).

signal 6.59, entry 7.00 and signal 7.59, entry 8.00.
Result -5% +15% = +10%.

I'm trading the same time as Jpr but live in the US.

Jpr, I just noticed that this is your personal journal so I want to say sorry for posting so much. I'm a new member to this forum and don't want to rub anybody the wrong way.

All along I was thinking this was under the "Trading Systems" section. I will limit my post extremely because I don't want to be disrespectful in your trading journal.

Sorry.

Hi Strada,
I had a win at Frankfurt Open and a loss at London Open. I posted the Frankfurt chart but won't have time to post the London chart until later. I would be interested in seeing your charts as I had different entries to you allbeit with the same net result (+10%) for the day.