Strategy

So after all these months, I've come to the conclusion that trading needs to be relatively full time. My strategy would be as such:

1. Check master direction on 4hr timeframe using EMA6.

2. Enter trade in same direction on 15min timeframe using EMA6

3. Exit trade once 15min timeframe EMA6 goes in opposite direction of master direction, regardless of profit or loss.

4. Use money management 20% of capital. Risk reward ratio irrelevant as exit is dependent on EMA6.

When I get to try this is another matter altogether. Sigh.

Yours,

X

18 Jul 2017 - 0.788

Wow. This is really incredible. I'm down almost 100 pips now. But the strength of the AUD is really amazing. I guess I'll just hold till my positions get closed. The cardinal rule of trading - never trade what you can't afford to lose. As long as you stick to that, you're always gonna be in a safe zone.

Looks like my high probability small gains strategy isn't really cutting it. Oh wells. Till the next time :)

Yours,

X

18 Jul 2017 - 0.783

So the downtrend was strong in the middle of the night. I went short at 0.7786. I had checked the calender forecast on IG as well and there was nothing. But at 0930, massive spike up! Befuddled and now I'm 30 pips down. Haha. But we'll, I'm happy I'm holding a short position and not a long one. We'll see where this goes. In the meantime, NO TRADING BEFORE 0930 EVER!!! On the AUD that is...

Yours,

X

17 Jul 2017 - 0.781

3 easy pips (1 pip per trade) today, all going short when EMA6 showed a strong downtrend. $1,088.

I realise that by trading without a stop loss, I have a terrible risk-reward ratio. As such, I'm not going to make money from risk/money management. But I realize that the higher the ratio, the lower the probability of winning trades. It's not simply 50% of trades that you'll win/lose. Well since I'm going all out with this final capital, I'll stick to the current strategy.

Yours,

X

14 Jul 2017 - 0.776

It's incredible how high this is rising. Wonder when the drop will happen. That being said, I'm still wary of following the trend and would rather stick to the retracements. Got in again at 0.7752 for another pip shorting. Bounced back to 0.776, but hey I'd already scalped my pip. $1,072 now.

Yours,

X

14 Jul 2017 - 0.775

Oh man. Really hitting the highs today. Got prompted by a 1min RSI30, checked it out, saw a 5min RSI downtrend, went in at 0.77529, and got out within the next 5 mins. $1,066 now.

Yours,

X

14 Jul 2017 - 0.774

Woah. It just keeps going up. If I'd gone with the direction of 15 60 240, I'd have made easy pickings today. But after my last regret of going long during RSI highs, I decided to wait out for a slight short trend. In fact, using the 1min period can be a trigger since RSI's really overbought, so I went short at 0.7742 as it retraced from 0.7744, and hit my target pretty soon. $1062 now.

Yours,

X

13 Jul 2017 - 0.769

Lost a big bunch once again. Down 4k. It feels like staring all day could still work, but I'm not able to do that.

Maybe with my new knowledge of EMA6 trends on the 240, 60 and 15min charts, I can go back to my previous strategy of making 1 pip a day. This would generate about 100% returns a year thereabouts which is not too bad. Starting off with $1050 today, let's track this journey.

Just made my first pip ($6), so tgt met for the day. $1056. Maybe can do several entries as well. Today I aim to go short (cos it really is topping out), but only with a strong EMA6 downtrend on 15 and 60min, or go long on a strong EMA6 uptrend AFTER a downtrend, which is the long term strategy - go in the direction of all 3 trends.

Yours,

X