Week 7: £ -1275.94
Overall: £ 4391.79
207 trades with an average Stop of 22.9 pips.
Strike Rates of 57.5% for Target1, 31.9% for Target2, and 13.0% for Target3.
Interestingly, using 1:1 risk/reward at £10 per pip has an overall profit of £5,173.00
Using 1:1 risk reward, risking 1% of bank per trade and a starting bank of £100 (10p minimum lotsize and lots rounded down to 10p multiples) the bank now stands at £153.99.
Some pairs are performing better than others. Here is a summary:
|Instrument||Sum of Pips||Sum of P/L||Last Week||Change|
|AUDUSD||705.2||-£ 264.32||-£ 490.10||£225.77|
|EURJPY||1491.4||£ 2,458.44||£ 1,930.97||£527.47|
|EURUSD||1455.8||£ 2,727.42||£ 3,449.00||-£721.58|
|GBPUSD||491.3||-£ 1,051.31||-£ 691.52||-£359.79|
|USDCAD||306.7||-£ 544.80||-£ 400.12||-£144.69|
|USDCHF||834.2||£ 1,066.36||£ 1,869.50||-£803.13|
|Grand Total||5284.6||£ 4,391.79||£5,667.73|
I am using the Alpari spread betting Metatrader. Your results may (will) differ from mine as you will get better or worse prices than mine.
Secondly, I simply cannot take a trade where the fast MA is below the slow MA for a buy, and vice versa for a sell. I know it’s not in the rules this way but this personal foible is the way I am operating this.
Thirdly, the manual says the MAs have to have sufficient separation, I have interpreted this as 2 or more pips.
I am using a trading window of 8 am to 4-30 pm, London time. I am ignoring signals outside of this window.
I am using a 3 target strategy for a third of stake at each target as follows: Take Profit (TP) 1 risk/reward of 1:1, TP2 using 1:2 and TP3 using 1:3.
To set tops, I am using Bill Williams’ fractals to identify swing high and lows.
I am using a maximum stop loss of 50 pips.
As of week 5, trades are closed at 9 p.m. London time and whatever profit or loss these trades are in is taken.