Hi folks,
first of all, english is not my native language.
I would like to share my system with you because i believe in it! After i lost quite some money in 2013 i "developed" this strategy in January, turning $100 into $1000 within 3 weeks, lost it all within a month, got back to $1000 and lost it again. The reason for the losses, obviously, i was undisciplined and impatient, what a surprise But as long as it was my own stupidity and not the strategys fault i am ok with it.
But before i start again i just want to know what you think about the strategy and whether my gains were complete flukes.
I said earlier "developed", i don't think i am the first one and not a lot of work went into the development i kept it as easy as possible!
Timeframe: M15
Indicator: SMA(600), to give me an indication where the price is at the moment
I am looking for recent swing highs/lows
Set-up: When the price is below SMA i am looking for longs, when it's above for lows. The price has to move at least 10 pips above (below) the last swing high (swing low) and bounce back. Entry is 3 pips above (below) the last move. SL = last swing, TP = 2x SL, SL = BE after 10 pips gain. So every positive trade doubles your investment, ever negative trade halves it.
Example attached (grey line = SL, blue line = entry, yellow line = TP)
For more examples please search for the pictures i posted in this forum (pics from March '14 to May '14).
Looking forward to your comments, don't hesitate to post pictures with examples where the strategy failed!
Cheers!
first of all, english is not my native language.
I would like to share my system with you because i believe in it! After i lost quite some money in 2013 i "developed" this strategy in January, turning $100 into $1000 within 3 weeks, lost it all within a month, got back to $1000 and lost it again. The reason for the losses, obviously, i was undisciplined and impatient, what a surprise But as long as it was my own stupidity and not the strategys fault i am ok with it.
But before i start again i just want to know what you think about the strategy and whether my gains were complete flukes.
I said earlier "developed", i don't think i am the first one and not a lot of work went into the development i kept it as easy as possible!
Timeframe: M15
Indicator: SMA(600), to give me an indication where the price is at the moment
I am looking for recent swing highs/lows
Set-up: When the price is below SMA i am looking for longs, when it's above for lows. The price has to move at least 10 pips above (below) the last swing high (swing low) and bounce back. Entry is 3 pips above (below) the last move. SL = last swing, TP = 2x SL, SL = BE after 10 pips gain. So every positive trade doubles your investment, ever negative trade halves it.
Example attached (grey line = SL, blue line = entry, yellow line = TP)
For more examples please search for the pictures i posted in this forum (pics from March '14 to May '14).
Looking forward to your comments, don't hesitate to post pictures with examples where the strategy failed!
Cheers!