Saturday, April 9, 2011

Back with more....

Currently testing out a new strategy, which seems workable after many back-testing. However this time round, I base my entry with tighter rules and stops wise, I have improved my RR ratio to 1:2. My entry strategy had always been based on trend counting and Fibonacci ratios; playing the breakout The only problem with this combination; my P/L will suffer in range bound regions. There are plenty of range bound regions when trading on the 1m and 5m. Profit/Loss wise, I will still base my entry amount on a fixed risk method.
Will be testing next week with a mini lot, hope I wont do too badly.
By the way, anyone using FXCM, is there a better broker to recommend?

3 comments:

  1. Any chance of disclosing charts of your trades? Do you trade mainly with Fibo?

    I don't think FXCM is a broker. They are market maker. Marketmaker/brokers that are from UK originally are better than those of the USA.

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  2. yes; i started trading, like most others using indicators, however as i proceed, i realize that price action actually plays a very large role.
    I mainly trade using fib. i tried retracements and reversal, however i feel that reversal works better for myself. for fib trading is more or less about getting the right high/low points, next will be risk management. losing is inevitable, thus i prefer to use a fix risk method, to enter base on the amount i would lose for that particular trade.

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  3. hey 水
    viewed you blog and saw that you are a gann trader. really interested in learning gann. will visit your blog frequent to learnt from you. Thanks

    ReplyDelete