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Forex trading is about understanding the bias for any period of time. I am a good analyst and have immediate access to news and information. I do not trade purely on technicals unless it is obvious that there is nothing else going on fundamentally,which can be the case a lot of the time. During those times the trades will be more frequent as we will be trading ranges with smaller stops.

Stops are a very important aspect of the way I trade. My philosophy is this: you enter trades for a reason and exit when those reasons no longer hold. If I believe GBPUSD is going down, I short it and keep in mind where the price has to go in order for me to be proven wrong. If the price hits that level, I get out of the trade.

Please keep in mind that your risk should be controlled by the size of your trade rather than the stop. The stop is there to get you out of trades when situations change, not to control your risk. Risk is a function of the probability that you are wrong on a trade and it is silly to have a 10 pip stop and say the trade is wrong and you are taking small risk. Very tight stops increase your risk rather than reduce it. We will make a lot of money trading with reasonable leverage rather than doing what everyone else does and use tight stops. Control the amount of leverage you use because tight stops are a gamble and we do not want to gamble while trading FX.

My trades are based on the information available, trend-lines, ranges and support/resistance points. One day is different from the other, but the goal is to make decent money taking appropriate but not excessive risk.

I strongly recommend automating the signals. This has the advantage of making sure you do not miss the trades, especially when they are quick scalp type ones. In addition, it will take away some of the discretionary element that seems to hamper trader performance. I take the decision on the trades so there is little reason for you to make any further decisions about execution. This is only a suggestion and you may, of course, choose to take the trades as they appear rather than using any automation.



Kind regards.

Strategy

Pips $ %
2009-12-07 - 2009-12-11 +0 +$0 +%
2009-11-30 - 2009-12-04 +0 +$0 +%
2009-11-23 - 2009-11-27 +0 +$0 +%
2009-11-16 - 2009-11-20 +0 +$0 +%
2009-11-09 - 2009-11-13 +0 +$0 +%
2009-11-02 - 2009-11-06 +0 +$0 +%
2009-10-26 - 2009-10-30 +0 +$0 +%
2009-10-19 - 2009-10-23 +0 +$0 +%
2009-10-12 - 2009-10-16 +0 +$0 +%
2009-10-05 - 2009-10-09 +0 +$0 +%
2009-09-28 - 2009-10-02 +0 +$0 +%
2009-09-21 - 2009-09-25 +0 +$0 +%
2009-09-14 - 2009-09-18 +0 +$0 +%
2009-09-07 - 2009-09-11 +0 +$0 +%
2009-08-31 - 2009-09-04 +0 +$0 +%
2009-08-24 - 2009-08-28 +0 +$0 +%
2009-08-17 - 2009-08-21 +0 +$0 +%
2009-08-10 - 2009-08-14 +0 +$0 +%
2009-08-03 - 2009-08-07 +0 +$0 +%
2009-07-27 - 2009-07-31 +0 +$0 +%
2009-07-20 - 2009-07-24 +0 +$0 +%
2009-07-13 - 2009-07-17 +0 +$0 +%
2009-07-06 - 2009-07-10 +0 +$0 +%
2009-06-29 - 2009-07-03 +0 +$0 +%
2009-06-22 - 2009-06-26 +0 +$0 +%
2009-06-15 - 2009-06-19 +0 +$0 +%
2009-06-08 - 2009-06-12 +0 +$0 +%
2009-06-01 - 2009-06-05 +0 +$0 +%
2009-05-25 - 2009-05-29 +0 +$0 +0%
2009-05-18 - 2009-05-22 -300 -$300 -10%
2009-05-11 - 2009-05-15 +16 +$16 +0.53%
2009-05-04 - 2009-05-08 +0 +$0 +0%
2009-04-27 - 2009-05-01 +40 +$40 +1.33%
2009-04-20 - 2009-04-24 +0 +$0 +0%
2009-04-13 - 2009-04-17 +27 +$27 +0.9%
2009-04-06 - 2009-04-10 +75 +$75 +2.5%
2009-03-30 - 2009-04-03 -90 -$90 -3%
2009-03-23 - 2009-03-27 +64 +$64 +2.13%
2009-03-16 - 2009-03-20 -1343 -$1379 -45.96%
2009-03-09 - 2009-03-13 -86 -$86 -2.86%
2009-03-02 - 2009-03-06 +53 +$53 +1.77%
2009-02-23 - 2009-02-27 +84 +$84 +2.8%
2009-02-16 - 2009-02-20 +137 +$137 +4.57%
2009-02-09 - 2009-02-13 +101 +$101 +3.37%
2009-02-02 - 2009-02-06 +135 +$135 +4.5%
2009-01-26 - 2009-01-30 +9 +$9 +0.3%
2009-01-19 - 2009-01-23 +125 +$120.84 +4.03%
2009-01-12 - 2009-01-16 +31 +$31 +1.03%
2009-01-05 - 2009-01-09 +2 +$2 +0.07%
Strategy Name Adriana69
Max concurrent lots 3
Max drawdown for 1 lot 300 (pips)
Min account amount $ 3000
Max drawdown for full amount 35 % 60.0%
Trading currencies EUR/USD, USD/JPY, GBP/USD, AUD/USD, EUR/GBP, EUR/JPY
Pips $
Date Started 2009-01-05
Number of weeks 21
Total -920 pips -$960.16
Total profitability -32.01 %
Trades 149
Profitable Trades 125
Loss Trades 24
Win ratio 83 %
Maximum account level +846 pips +$3841.84
Minimum account level -920 pips +$2039.84
Max loss -1766 pips -$1802
Max loss (%) 60.00%
since 2009-03-12 to 2009-05-23
 
 
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