Hi All,
Decided to start my own trading Journal in ForexFactory. All relevant information can be further seen on my trade explorer http://www.forexfactory.com/emptycube/05.
Trading Time: Script based entry
Trading Style: Scalping
Money Management:
EU - each trade 3 concurrent positions: each positions 10% lot size from equity,
GU - each trade 2 concurrent positions: 10% & 5% each lot size from equity
Entry Based on:
1) mtf-resistance-support indicator (pending buy/sell from support and resistance of indicator)
2) pending order will be open when price nearing to support/resistance by 20-30pips
Exit on:
1) Stop Loss
2) Trailing Stop on open position, as minimum allowed by broker possible
Assistance on entry and exit is based on script, almost automated, similar to EA
Control: Script will delete pending order if spread is too wide
Account type: ECN for tight Spread
Ive been running this approach since Early June and so far having a good results. Had forward implemented this approach on Live ECN Account. Based on my observation it will run very well on trending price action but not really good on choppy market.
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edited on July 21st 2015: edit on Money Management for EURUSD pair. from 4 concurrent post to 3 concurrent positions
edited on July 27th 2015: edit on Money Management for GBPUSD pair. from 1 position to 2 concurrent positions
Decided to start my own trading Journal in ForexFactory. All relevant information can be further seen on my trade explorer http://www.forexfactory.com/emptycube/05.
Trading Time: Script based entry
Trading Style: Scalping
Money Management:
EU - each trade 3 concurrent positions: each positions 10% lot size from equity,
GU - each trade 2 concurrent positions: 10% & 5% each lot size from equity
Entry Based on:
1) mtf-resistance-support indicator (pending buy/sell from support and resistance of indicator)
2) pending order will be open when price nearing to support/resistance by 20-30pips
Exit on:
1) Stop Loss
2) Trailing Stop on open position, as minimum allowed by broker possible
Assistance on entry and exit is based on script, almost automated, similar to EA
Control: Script will delete pending order if spread is too wide
Account type: ECN for tight Spread
Ive been running this approach since Early June and so far having a good results. Had forward implemented this approach on Live ECN Account. Based on my observation it will run very well on trending price action but not really good on choppy market.
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edited on July 21st 2015: edit on Money Management for EURUSD pair. from 4 concurrent post to 3 concurrent positions
edited on July 27th 2015: edit on Money Management for GBPUSD pair. from 1 position to 2 concurrent positions