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  

 

Caveats:
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.