Simple Forex System Trading

Again, the strategy I use is very simple.  Williams’ Percent Range.  When it dips below -70, sell; breaks above -30, buy.  Wait till the next candle to confirm that previous candle closes either above or below the threshold.  I normally enter a limit order and wait for 50% retracement.  I leave the order pending for about 15 minutes.  If it’s not filled, then I cancel it and no trade.   I set the take profit target at 20 pips.  Stop loss depends on the change of trend.  Trailing stops is 10 pips.   I also don’t trade every signal.

Stayed on the sideline today as the pair stuck in range.

Not too bad this month.  We ended up with 1 win.

5/1  -1

5/2  +1

5/3  +1

5/4  +1

5/5  -1

5/8  -1

5/9  +1

5/10  -2

5/11  +1

5/12  +1

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Total  + 1

After a rocky start, the system finally ended April with positive results.

4/3  0

4/4  -1

4/5  -1

4/6    1

4/7  1

4/10  0

4/11  1

4/12    no trade

4/13  1

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Total  +2

Bummer!!!  We ended up with 3 losses in March.  So far this year, we are now in the red with the 3 losses because of March.

3/1     1

3/2     -1

3/3     no trade

3/6     -2

3/7     no trade

3/8     no trade

3/9     no trade

3/10     -1

3/13     0

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Total     -3