This is a journal to record ongoing forward testing results using the method described in Paulus thread found at the following link:
http://www.forexfactory.com/showthread.php?t=360197
I love the idea behind this method as it helps avoid over-trading (it's very hard to only take 1 trade a day) and has a good R:R (1:3).
The only two differences to Paulus method is that I will be trading the first signal (long or short) after the Frankfurt open, and also the first signal (long or short) after the London open regardless of any bias. This will give me two trades per day instead of just one. Also instead of risking 5% per trade I will only be risking 2% per trade (as there are two trades and not just one per day).
Everything else (R:R, SL and entry signals) will be exactly the same as the Paulus 1 minute 1 trade method. If you don't know what it is then please visit the thread and don't ask here.
If anyone starts posting any other charts other than charts which follow (or at least attempt to follow) the method outlined above will be blocked from this thread.
The Paulus thread is already going that way and I just want to keep this journal clean and sticking to the above method.
However, any honest questions are welcomed and I will post charts with SL and TP starting Monday along with an ongoing record of results.
Paulus' results have been very promising, however on back-testing (thanks Strada!) taking the first valid signal without any bias has been even more promising, hence the reason for using this method rather the Paulus' original method, but only forward testing will tell.
Like I said first 2 trades Monday morning. Let's see what happens..
JPR
Update:
At the moment I am focussing on 1 Trade at Frankfurt Open with bias from 6am.
I will update the results sequence daily after each trade and I post charts live whenever possible.
Results Sequence since Monday 2nd July 2012
Month 1 - WLLLL LLWWW LLLLL LLWLL (5W/15L)
Month 2 - LLWLW LLLLW LWLL
http://www.forexfactory.com/showthread.php?t=360197
I love the idea behind this method as it helps avoid over-trading (it's very hard to only take 1 trade a day) and has a good R:R (1:3).
The only two differences to Paulus method is that I will be trading the first signal (long or short) after the Frankfurt open, and also the first signal (long or short) after the London open regardless of any bias. This will give me two trades per day instead of just one. Also instead of risking 5% per trade I will only be risking 2% per trade (as there are two trades and not just one per day).
Everything else (R:R, SL and entry signals) will be exactly the same as the Paulus 1 minute 1 trade method. If you don't know what it is then please visit the thread and don't ask here.
If anyone starts posting any other charts other than charts which follow (or at least attempt to follow) the method outlined above will be blocked from this thread.
The Paulus thread is already going that way and I just want to keep this journal clean and sticking to the above method.
However, any honest questions are welcomed and I will post charts with SL and TP starting Monday along with an ongoing record of results.
Paulus' results have been very promising, however on back-testing (thanks Strada!) taking the first valid signal without any bias has been even more promising, hence the reason for using this method rather the Paulus' original method, but only forward testing will tell.
Like I said first 2 trades Monday morning. Let's see what happens..
JPR
Update:
At the moment I am focussing on 1 Trade at Frankfurt Open with bias from 6am.
I will update the results sequence daily after each trade and I post charts live whenever possible.
Results Sequence since Monday 2nd July 2012
Month 1 - WLLLL LLWWW LLLLL LLWLL (5W/15L)
Month 2 - LLWLW LLLLW LWLL