I will be using this thread to use as a journal for position sizing and money management. I'll be only doing this in demo mode for now. I'm trying to implement a ATR system I use in the equity market.
Start time last night with a short in USD/CAD
Here are the results thus far with 1 lot currently floating. This port will not risk more then 500usd per trade. Stops will be adjusted only when pair moves in our direction. I will use discretion as far as profit areas. My intent is to not discuss a trading system but I feel I need to improve in the money management aspect of trading. Once positions are in play hard stops will be placed and position size will be constructed off ATR. This will also be used for stop placement. I will be using a combo of ATR/14,2 and ATR 14/3 for the more volatile pairs. This system will only use info from the daily charts and will not step down in time at all.
As mentioned this is a demo and so we shall see how it works. If I'm happy with the results I may implement it into my current daily forex system.
I will be posting the good and bad here in this journal...
http://img113.imageshack.us/img113/4979/t1ve7.th.png
Start time last night with a short in USD/CAD
Here are the results thus far with 1 lot currently floating. This port will not risk more then 500usd per trade. Stops will be adjusted only when pair moves in our direction. I will use discretion as far as profit areas. My intent is to not discuss a trading system but I feel I need to improve in the money management aspect of trading. Once positions are in play hard stops will be placed and position size will be constructed off ATR. This will also be used for stop placement. I will be using a combo of ATR/14,2 and ATR 14/3 for the more volatile pairs. This system will only use info from the daily charts and will not step down in time at all.
As mentioned this is a demo and so we shall see how it works. If I'm happy with the results I may implement it into my current daily forex system.
I will be posting the good and bad here in this journal...
http://img113.imageshack.us/img113/4979/t1ve7.th.png
Check Mate GAME OVER