System: Main Live Review
Description: My trading system looks for divergence between Momentum and Relative Strength of the financial instrument’s market price on a 5 minute chart and 1 hour chart.
A trade is placed when a divergence is found in the opposite direction with a 20 pip take profit target.
There is no stop loss set, however, if the financial instrument is down over 70 pips. If there is another divergence trade set up. A trade, that is four times larger than the original trade size will be taken in the same direction in order to close the overall position with no loss.
These trades are placed automatically by an expert advisor on MT4
Type of Trading: Real
Started: May 01, 2015
Tracking: 0 users
Currency Pairs: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, EURAUD, EURCAD, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPJPY, GBPUSD, NZDCAD, NZDUSD, USDCAD, USDCHF, USDJPY, USDMXN
Overview: Main Live Review Myfxbook system has made +55% in 479 trades since May 01, 2015. The average winning trade is about17.22 pips / C$5.22, and the average trade with a loss around -64.10 pips / -C$7.55. Trades are left open on average for 16h 0m.
(158/218) 72% is the winning percentage of its buy trades and (199/261) 76% is the winning percentage of its sells.
(Aug 12) 142.7 was the best trade it ever produced. (Aug 19) -3883.9 was the worst.
Pros & Cons
- It doesn’t appear to be a scalper, which is good
- Risk of large drawdowns
- High stoploss with low takeprofit