Time for a quick update:TraderJoeForex » Fri Nov 11, 2016 11:12 pm wrote:TraderJoeForex » Fri Nov 11, 2016 1:32 am wrote:
I will be putting this M5H1D1 (15pair) set on a small live account next week and this will be the reference point for me to try and beat with continued testing of various further options. I plan to turn the EA off every Friday during the day and manually bring any remaining positions to a close or hedge so I don't carry any risk over weekends.
Here are my live results since 14th November. I have aimed to close flat on Fridays but had to keep a couple of positions open this past weekend (EURAUD and GBPAUD) which were in heavy drawdown and preventing Friday's basket from closing. I kept these open as my analysis suggested that they would retrace this week and they did enough to close with a small loss.
Looking at the profit/loss for each of the pairs I am quite comfortable with the 15pairs I chose to run. There are no extreme losers here which is interesting.
This week so far just one new basket close then and have a feeling it may be a bit slower from here until January. I will keep this running though for the next couple of weeks and then probably call it a day until after Christmas.
For me this set does have it's frustrations seemingly entering just before a retrace and initially going into drawdown but that is the price of waiting for three timeframes to line up. Fortunately there seems to be enough momentum at certain points during the week to always bring a profit close and that is why I am not using SL or news filter with this strategy as that will be a sure way to turn this profitable strategy into an unprofitable one. The way I am managing risk is using a small account size.
I have continued testing many different approaches on demo including some non-basket approaches and have nothing that improves on this M5H1D1 set yet for a small account. I have had some success using H4 and H1 HGI as a trigger just in the direction on D1 diff and delta and am using these to add some extra trades alongside my manual D1 trading and I do look forward to trying some of the set files posted by others here that also look promising.
My time online is going to be limited in December as I have a lot going on including a house move so will aim now to report back in with anything new in January. Wishing everyone a joyful festive season and end to this year.
