Hi fellow traders,
This is my first journal. I start this journal to evaluate this trading strategy and which currency pairs fits best with this strategy. After 12 months I will review this trading strategy and the currency pairs.
[Performance for May 2008 was about 10% (1028 pips) but will not be included in this journal.]
-> Rules:
This is my first journal. I start this journal to evaluate this trading strategy and which currency pairs fits best with this strategy. After 12 months I will review this trading strategy and the currency pairs.
[Performance for May 2008 was about 10% (1028 pips) but will not be included in this journal.]
-> Rules:
- Daily review, between 17:00..21:00 (est), all the [17] currency pairs off the daily charts and 240 min. chart for conformation;
- The (soft) S/L is initially 100 pips/1% (GBP pairs 200 pips/1%) BUT if everything still looks good then leave the trade open and give it more room for a maximum loss of 200 pips/2%;
- The same rules applies for profit taking: initially close the trade if the trade is 100 pips in profit BUT if the trade looks exhausted or if it even goes against me then close the trade immediately;
- When the trade is about 50 pips or more in profit then move the (hard) S/L to break-even (B/E);
- Replace market order with stop order 10 pips under/above last low/high. Put stop orders in the queue (show here).
- Make also notes of the minimum needed S/L, B/E and maximum possible T/P for that particular trade.
-> Stop order queue:
Date Time Currency Pair Buy/Sell Price
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-> Performance results will be updated here:
PipSqueezers Rainbow Fund - Performance (in pips):