This is a journal to monitor a strategy unfolding on a small 200$ live O@nda account starting next week. The journal serves a purpose of forcing me to be disciplined enough to carry it through.
I will not provide details about the strategy, but I have basically uncovered it in my previous posts. No technical analysis will be involved apart from knowing where the price was 24 hours ago. Trading only with this short-term trend, trying to catch long-term trends. Forex only, no other instruments. Might avoid CHF pairs.
I will monitor trades a couple of times per day, before crucial sessions. There will be no-trade days. It will be boring, but it may bring some ice-cream cash.
Initial trades will have a 50 pip fixed sl (0.5% risk, initial trades will be 200 Oanda units -> 0.002 lots, risking 1$ per trade), with only the initial trade having risk, otherwise the (scaled in, multi-trade) position will have a guaranteed breakeven/small profit (interested people should read twoblink's threads). High spread crosses (say GBPNZD) could get a slightly different treatment, but never risking more than 0.5%... There is no tp, unless getting an opposite signal. Letting winners run, cutting losers short.
Cheers,
k
I will not provide details about the strategy, but I have basically uncovered it in my previous posts. No technical analysis will be involved apart from knowing where the price was 24 hours ago. Trading only with this short-term trend, trying to catch long-term trends. Forex only, no other instruments. Might avoid CHF pairs.
I will monitor trades a couple of times per day, before crucial sessions. There will be no-trade days. It will be boring, but it may bring some ice-cream cash.
Initial trades will have a 50 pip fixed sl (0.5% risk, initial trades will be 200 Oanda units -> 0.002 lots, risking 1$ per trade), with only the initial trade having risk, otherwise the (scaled in, multi-trade) position will have a guaranteed breakeven/small profit (interested people should read twoblink's threads). High spread crosses (say GBPNZD) could get a slightly different treatment, but never risking more than 0.5%... There is no tp, unless getting an opposite signal. Letting winners run, cutting losers short.
Cheers,
k
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