Whilst carrying on with my testing, I am continuing to closely monitor and mark the charts of Cable, DAX and Oil – and every now and then I take a paper-trade – using the same setups as in my testing. Here are the charts from the two trades late on Friday, and from the two yesterday. In all, this resulted in 3 winners and 1 loser. Notice that the trade setups revolve around the trend/sentiment on the 1H chart, key levels of support and resistance, and the existence of technical patterns on either the 5-minute (5M) or 15-minute (15M) timeframes.
The first two trades were entered into late Friday afternoon, after 4pm, after the market had become a bit quiet.
And these two were completed yesterday (Monday):
Here are the results for the 15 trades I have taken over December and January (thus far). Notice that’s just 15 trades over a six-week period (2-3 per week). These results have been rather good – in my opinion – I know most retail traders would consider these as not worthwhile. If I was able to knock out 10R every 2 months, then I would be over the f***in moon. What i still have trouble is having the same feel in simulated testing, as in real-time testing. This reduces the motivation I have for simulated testing.
I have also provided a brief update on the FXCM options trade post – click here for that.