Latest Strategy - 15% locked in, 15% running profits

USD/JPY just hit my limit for $700. 4 open positions currently. I think I'll only take positions from Mon - Wed. That gives enough time to see out the trend, without the gapping that comes over the weekend. Trade safe.

Yours,

X

Latest Strategy - 5% locked in, 20% running profits

Started with $7,300. At $7,700 now with $1,800 on 5 open positions. Lost 3 trades at -$700, made 1 trade at $1,100. Trade safe!

Yours,

X

Updated RR 1:3 Strategy

The latest strategy saw me go from $6,800 - $7,300. About 7% gains in a day. It also saw me lose till $6,100 before making 3 trades in a row to hit $7,300.

But I'm still not extremely comfortable with it. My entry points are not as standardised as I'd like them to be. So I tweaked it a little. I now go for 1:3 RR, but in the same direction as the previous day's open and close, with a stop at the previous day's open/close. I will then keep adjusting my stops to the previous day's open/close, until I finally get stopped out/hit my limit. I also try trading the more volatile pairs (JPY crosses mainly), and only enter when my stop is 20 to 40 pips away (for breathing space, and to keep to about 4% drawdown).

Yesterday, I took 4 trades. Checked in mid day to see a paper loss of 700. Check in again to see a paper loss of 200 instead. This is in line with my previous pivot point strategy. I think what that means is that when I enter, I'll put in an order instead, that's say 15-20 pips above/below the current price.

So far, 1 trade got stopped out (i'm at $6,900), but 3 trades were up for a paper profit of $1,000 at 0800 today i.e. about 10%. Let's see how they pan out (edit: up to 2k at 0930 and 3k at 1330). I'm still unsure of when I should take profit or let the full trade run out. Let's see how it goes.

Yours,

X

New strategy - RR 1:3

Been trying a couple of systems these few weeks. Didn't really work. Last try was a 5 pip limit 15 pip stop. Got to 10% gains before hitting a 20% loss. This then got me thinking back to my first 2 pip strategy that netted 24% gains before a 30% loss. I realised that maybe in fact reversing the stops and limits might just work. So now:

Trade opposite direction of previous bar. 5 pip stop, 15 pip limit. Go for a lower required win percentage. Previously when gg for a high won percentage, it was trade in the same previous day direction, 5 pip limit 15 pip stop. So perhaps going the exact opposite with good discipline would see the exact opposite results? Let's try! Current RR is 1:3. But previously my RR was 10:1. Maybe a 1:10 RR might be something for the future... Trade safe!

Yours,

X