Trading EUR/USD Daily Hi & Lo

J

JSSPMK

(Entry was late) Currently Long 1.4485 £1.50 per pip
Position will be reversed x2 size @ 1.4400
Open target, though minimum is 170 pips

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2698755>
 

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Current position entered trailing stage, either current Daily bar's Hi is challenged or a bull hammer, at that point position will be reversed with minimum size of £1 per pip.
 
This is new, I have allocated £20k to this, that is maximum risk. DDs will vary. I have previously tested similar strategy on the S&P with smaller stakes, because it was based on intraday levels it suffered due to levels being taken within noise of a larger time frame (yet ended up in black). What has to be noted is that volatility analysis still have to be present.

Last trade wasn't trailed according to rules set out, I simply wanted to lock in gains near 1.4000 & it wasn't a bad return either ~5%

Main objective - to attach position to market's direction, any bias aside, let price action control position.
 
Back to square 1.

Limit orders have been placed @ £1 initial stake.

Buy order 1.4145
Sell order 1.4025

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2707781>
 

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subscribing to this thread.

Ive been considering doing something similar myself, in terms of doubling my stakes each time after a losing trade.
Im gonna put a little bit of money into a side account at some point and see how i get on.
 
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