System: Dimple Developments #1 Review
Description: This is the strategy that I have used to trade for a living since quitting my job (as a lawyer) in February 2014 to trade fulltime. I firmly believe that objective and repeatable patterns/structures exist within the market, and this strategy attempts to identify these patterns. Specifically, it focuses on points of exhaustion and false-breakout, allowing me to (hopefully) forecast sharp market reversals that maximize profit with minimal risk. The entries are taken live, and then exits are a mixture of manual and automatic. Thanks for taking the time to look at my system.
Type of Trading: Real
Started: Jan 07, 2015
Tracking: 0 users
Currency Pairs: AUDCAD, AUDCHF, AUDJPY, AUDUSD, CADCHF, EURAUD, EURCAD, EURJPY, EURUSD, GBPAUD, GBPJPY, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCHF, USDJPY
Overview: Dimple Developments #1 Review Myfxbook system has made +18% in 288 trades since Jan 07, 2015. The average winning trade is about11.64 pips / NZ$4.76, and the average trade with a loss around -37.50 pips / -NZ$11.89. Trades are left open on average for 6h 28m.
(56/84) 66% is the winning percentage of its buy trades and (157/204) 76% is the winning percentage of its sells.
(May 01) 226.4 was the best trade it ever produced. (May 05) -307.9 was the worst.
Pros & Cons
- It doesn’t appear to be a scalper, which is good
- 37.503611 SL, usually asking for trouble.
- Drawdown has only reached 12.18, looking good so far!
- SL:TP ratio is too big