Sorry for the lack of updates guys, there just hasn't been anything new to report that you couldn't see from the tracker until now.
March is almost over and so far it has been an interesting month, and another month of learning. As you can see from the tracker in my original post, the results have been less than impressive to say the least. This week is looking good, but so far this strategy has been way too bumpy. What's interesting is that even though I'm still in the red, most weeks have actually yielded a positive pip count. What has been happening is that I will win two trades in a row, and then one losing trade will wipe out all the profits due to MM calculating a higher lot count. We would need a much higher win/loss ratio to make the current strategy work. That leads me to believe that the final puzzle piece to making this strategy profitable is to stop using MM and to start using a fixed lot count.
Starting in April (next week) I will be using a fixed lot count that I will calculate at the beginning of each week. Since it will be fixed and won't adjust to losses, I will lower my risk/trade from 33% to 20%. This will wipe out an account if there are five consecutive losing trades, so I will stop trading for the week if there have been three consecutive losing trades. Computing the risk/trade at the beginning of every week will take advantage of the positive pip count for the week and compounding interesting.
The goal for each week will be +17.5% growth (+35 pips) of the account. The monthly goal is a little trickier to predict, but ***uming there is +17.5% growth every week then the monthly goal will be ~+90% (due to compounding interest).
March is almost over and so far it has been an interesting month, and another month of learning. As you can see from the tracker in my original post, the results have been less than impressive to say the least. This week is looking good, but so far this strategy has been way too bumpy. What's interesting is that even though I'm still in the red, most weeks have actually yielded a positive pip count. What has been happening is that I will win two trades in a row, and then one losing trade will wipe out all the profits due to MM calculating a higher lot count. We would need a much higher win/loss ratio to make the current strategy work. That leads me to believe that the final puzzle piece to making this strategy profitable is to stop using MM and to start using a fixed lot count.
Starting in April (next week) I will be using a fixed lot count that I will calculate at the beginning of each week. Since it will be fixed and won't adjust to losses, I will lower my risk/trade from 33% to 20%. This will wipe out an account if there are five consecutive losing trades, so I will stop trading for the week if there have been three consecutive losing trades. Computing the risk/trade at the beginning of every week will take advantage of the positive pip count for the week and compounding interesting.
The goal for each week will be +17.5% growth (+35 pips) of the account. The monthly goal is a little trickier to predict, but ***uming there is +17.5% growth every week then the monthly goal will be ~+90% (due to compounding interest).
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