I have found a great site that can make very nice statistics of your trading. It is called myfxbook and I immediately connected it to my account... The statistics is on the right side of my blog and if you click on it, you can see all the info about my trading.
I opened my account earlier so it goes further than to when I started trading 1 minute daily. Also the overall amount I put into my account is bigger than 170 USD, but that is the amount with which I started trading 1 minute daily. The drawdown is so big because I risk 10% of my account every trade, which is a lot, also because I traded 3 pairs at a time and that is too much. I will stay only with GU and UJ now...
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My results:
August +675 so far
July +1075
June -2912
May +1595
April +153
March -680
February -2105
January -1671
My forex trading diary... My goal is to make several thousands USD from less than 200 USD in one year
Forex Morning Trade
Zulutrade - it can work when you are not greedy
My results:
August +675 so far
July +1075
June -2912
May +1595
April +153
March -680
February -2105
January -1671
Cash back for trading
Money paid by Cashback forex
132$
Hi Tomas. This is really good. I am getting myself around the 1 minute daily stuff now and hope to start trying it next week...just trading pennies. I just wondered if you have 'tweaked' the system at all to minimise your losses?
ReplyDeletePhil
Hi Phil,
ReplyDeleteI surely recommend starting small, that is clever. I mostly stick to the system but sometimes I move my SL a little closer to entry to lower risk. Usually when the width of the channel is more than 40-50 pips, I move it at least 2-4 pips, then if the price goes closer to my TP, I move it even further... I will talk about it (with some pictures included) in future posts...
Hi Thomas, thanks for the informative blog. I intend to signup for 1Minutedaily through your link. However, as with all Big Ben breakout strategies I have found that GU makes false moves initially, then reversing its course soon after. I hope that you have some method to filter this out...Your results are promising, would be good to have future further consistent updates, maybe with GU and UJ only, and 5% would be good. Good luck and once again thank you !
ReplyDeleteHi Micheal,
ReplyDeletewelcome here. I am glad you posting... I from experience know, that you are right, but this system seems to avoid it with fact, that you measure the channel from other hours than in most similar systems. There are some at Forex factory but none has as good results as this one I think. So I don't filter any false breakouts. The only thing I do is that if the pair is for example in strong down trend and the channel is quite wide, I don't place longs. It paid off to me a few times already...
The statistics of GU and UJ are on MYFXBOOK page - click in the upper right corner. I will talk about it in some later posts...
Also I absolutely agree that 5% is better, I just wanted to try it with high risk. As soon as I get to 3-5k, I will lower my risk.
Good luck and take care!
Hi Tomas, you said
ReplyDelete"I will talk about it (with some pictures included) in future posts... " When you have time to do this I would really appreciate it. There seem bigggggg stop losses with this system!
Hi Anonymous,
ReplyDeleteYes, I will. But I am quite a busy person so I am not sure when... maybe tonight, if I have some time.
This system works with risk:reward 1:1, so the SL is always the same as TP (the SL is actually a little bit bigger because of the spread, but it is like 2-4 pips). It is not like other systems, where you have SL 10 pips and try to go for profit of 30-50 pips. This system profits from its winning ratio, where there are more wins than losses, so the SL can be the same as TP and you still earn money in longer period of time... As said in this post http://slurpeeforex.blogspot.com/2010/05/this-is-crucial-read-it.html you dont mind how big your loss is as long as you control your risk of capital...