Not a good month for us in February. We ended up with one loss for the month. That’s about a 2% loss.
2/2 -1
2/3 0
2/4 0
2/5 1
2/8 1
2/9 -1
2/10 -1
2/11 0
2/12 0
========
Total -1
If it passes, I think I’ll move my accounts to UK then. 10 to 1 leverage seems absurd.
This month, we ended up with 2 wins. One short of the targeted 3 wins we’d like to have each month. Still, it’s not too bad by adding another 3.6% gain to the total.
The trading results look as follows:
Account: Oanda
1/4: +1
1/5: No trade
1/6: 0
1/7: -1
1/8: 0
1/11: +1
1/12: +1
1/13: -1
1/14: +1
Found another breakout system that based on one bar in a 4 hour chart. The author uses this method to trade GBP/JPY. Looks like the result is not bad at all.
So basically, in a 4 hour chart:
- Take the high and low of the second bar of the day. (GMT)
- Calculate number of pips between the high and the low. (High - Low = Channel; e.g. 160.00 - 158.50 = 1.50 –> 150 pips)
- If channel is more than 200 pips, no trade for the day.
- If channel is less than 200 pips, place buy 10 pips above the high & sell 10 pips below the low.
- Take Profit = buy order + channel (e.g. Buy @ 160.10, channel = 150 pips, Take Profit = 160.10 + 1.5 = 161.60)
- Stop Loss = buy order - channel (e.g. Buy @ 160.10, channel = 150 pips, Stop Loss = 160.10 - 1.5 = 158.60 )
Read more about this strategy @ forexfactory
Found this very nice article on how to use MACD in the daily Forex trading. Particularly, I love the MACD divergence & convergence strategies sections. Personally, I like to use Awesome Oscillator divergence on the one-hour chart to trade Forex but many traders prefer MACD.
Read the MACD trading strategy article @ forexoma
Mission accomplished. After my post on the 8th, we had two consecutive wins and hit the magic 3 target. That means we are done for December. Another 6% gain added to the account. It couldn’t be merrier than this, could it?
So far we are + 1 for the month of December. There are 3 more trading days left for the month. Hopefully, we can get two more wins and hit our target of 3 wins.
Between January and November, we are up + 12 trades. It is around 30% gain so far. Although it’s not as good as last year or the years prior, 30% is not a bad return for an investment / speculation.
Fingers crossed. Hope for two more wins!!!
Well, silly me was doing some experiment on the EUR/JPY 30/30 system in November; therefore, I ended up break-even. If I had just followed the system rules without experimenting, I could have had 3 wins - another 6% gain. Oy vey.
