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Good day all. I'll be using this forum to keep track of my trades, an attempt to keep my discipline 100% in check.
Strategy is based on simple breakout of high/low on GBP/USD. I've been live with this for the past 9 months. Had to do some adjustments after the financial crash in September and adjust some parameters. Now things have settled back down and the strategy has been treating me well, especially for the past week. I'll start off of the trades I've taken this past month, and will continue posting my trades as I take them.
Attached are my trades taken this month with GBP/USD.
Green arrow was my entry point. The white line is the point when I start looking at the chart, which is 3.05 pm (GMT+8) . More often than not, even if there was already a move being established, it takes a breather right at this time. I jump in when things get moving again. I set a parent & contingencies trade to say when to enter, where my stop loss is and where my take profit is.
I usually trade 3 minilots.
First mini lot - TP 100 pips.
Second mini lot - TP 200 pips.
Third mini lot - To let run.
Breakeven at 50 pips, stop loss at 27 pips.
I don't use any indicators at all, for they confuse me.
I always use the US open because you want directional movement.
Have you done any analysis if this scaling in is helping your profitability? I would look at the past 30 days and study the scaling in money management vs. a normal 1 time bet.
I would also look at the reversal breakout.
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