KISS (Keep it simple stupid) ... but make sure you still have an edge
- Thread starter alex.samant
- Start date
Even with the fatal mistakes that were made as part of the trial-and-error process of learning how to get the most out of what I sincerely hope were the final touches required by the “high frequency trade” version of my multiple simple moving average envelope Forex trading system and a mediocre 59% success rate, I still managed to eke out a profit in my JFD demo account.
I’m therefore optimistic that I’ll be able to do the same in my OANDA live trading account starting tomorrow and begin digging my way out of the hole I’m in from there.
I don’t recall to what previous expectations you are referring, but when used in a particular manner, my system consistently yields a daily success rate of from 80% to 100%, and anything less than 80% I find unacceptable, though 90%+ is more like what I’m shooting for. This screen shot from my demo account at the end of January shows the kind of results I genuinely expect once this version of my system is fully developed...
Nice! What do you mean by “used in a particular manner”?
For example, one approach to using the system is to only enter trades when certain thresholds are met in terms of how far price has distanced itself away from the daily open AND away from the day-of-day trend line.
Once these two thresholds are met, trades can be executed upon confirmation of a valid reversal back toward the day-to-day trend line and/or daily open.
Typically every trade made using this version of the system will be successful, but there are likely to be only about three trades made per day at the most, with some days resulting in no trades executed at all.