Hey there,
in this journal I will use a trading approach from Dan (some might remember him as FXTradepro some years ago).
Basically what he did was NOT to predict a good entry or direction, he just used a volatility based approach. If you want to know the details, look here:
http://www.forexfactory.com/showthread.php?t=82544
and in more detail:
http://www.forexfactory.com/showthread.php?t=43221
So what I will do is look for an entry in any pair with a SL of 10 pips and a TP of 50 pips. Once the TP is reached, we're done. If the SL is reached a position in the opposite direction will be opened with a larger position size. It's not martingaling but goes into the direction of increasing the position size with every order. After the 7th order we have a losing streak which will happen of course.
in this journal I will use a trading approach from Dan (some might remember him as FXTradepro some years ago).
Basically what he did was NOT to predict a good entry or direction, he just used a volatility based approach. If you want to know the details, look here:
http://www.forexfactory.com/showthread.php?t=82544
and in more detail:
http://www.forexfactory.com/showthread.php?t=43221
So what I will do is look for an entry in any pair with a SL of 10 pips and a TP of 50 pips. Once the TP is reached, we're done. If the SL is reached a position in the opposite direction will be opened with a larger position size. It's not martingaling but goes into the direction of increasing the position size with every order. After the 7th order we have a losing streak which will happen of course.
