Hi guys,
I wish all of you happy new year and a lot of success in your personal, proffesional and trading life:)
Tommorow I will start trading the 1MD again, I stayed out for the Christmas holiday. I hope we can get some good trades!
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
Hi Tomas,
ReplyDeleteDO you set Breakeven for most of your past trades? Any holidays and fundamental News besides Christmas that you will avoid trading with 1MD? Thanks. :)
Hi Anonymous,
ReplyDeleteI dont understand what you mean by that? sorry:) I set BE on a trade when the price gets close to PT, somewhere like 3-10 pips (3 on UJ, 10 on GU). I cannot sit in front of my comp all day so sometimes I can miss this...
I avoid trading only at Christmas and NFP (which was last Friday and I forgot about it = lesson learned on UJ)...
It is advisable to avoid trading for the last 2 weeks of december.
ReplyDeleteSlurpee,
ReplyDeleteI have doubts about BE because it may or may not be profitable to do so when price is likely to rebound and hit your SL.
Re: moving SL to BE
ReplyDeleteHaving extensively manually back-tested 1MD on G/U since 2007, I can confirm that Tomas' use of the BE is profitable. All other trade management (trailing stops etc) reduces profit on this strategy. If price gets very close to TP, then my backtests show that moving the SL to BE saves you pips over the long term. I only get perhaps a couple of trades a month that I move to BE, and over the year this more than makes up for a few trades that would have rebounded to hit the TP.
Dave
I appreciate your response to my questions. That would put me at ease to trade with BE without a doubt. :)
ReplyDeleteDave,
ReplyDeletethanks for the comment. I agree... It is not good to move the SL too early... but when it get so close, It is good not to loose the trade...