System: UltimateSystem Review
Description: I have been trading Forex for several years. My system works on lower time frames, by locating overbought/oversold levels and support/resistance areas where a retracement is most probable.
When a signal is received, one order is placed with initial stop loss and take profit. These SL and TP are only emergency levels, included to prevent unexpected and potentially damaging movements. My system calculates dynamically the final profit and loss levels and closes the order when these levels are reached. Most of the time only one order is taken for each traded pair, but if the market conditions are favorable, up to three orders can be taken for each pair.
Max risk for any initial trade can go from 3% to 5% of total equity. Losses are part of trading and they cannot be completely avoided. However, my system has a high ratio of winning trades, and it has proved to be profitable in the long term.
Type of Trading: Real
Started: Mar 02, 2015
Tracking: 2 users
Currency Pairs: EURGBP, GBPCAD, GBPUSD, USDCAD
Overview: UltimateSystem Review Myfxbook system has made +2% in 189 trades since Mar 02, 2015. The average winning trade is about13.25 pips / , and the average trade with a loss around -43.41 pips / . Trades are left open on average for 9h 47m.
(71/91) 78% is the winning percentage of its buy trades and (77/98) 78% is the winning percentage of its sells.
(Jul 27) 58.3 was the best trade it ever produced. (Aug 27) -243.0 was the worst.
Pros & Cons
- Average win is greater than 10 pips, some I always look for
- 43.41 SL, usually asking for trouble.
- Drawdown has only reached 26.48, looking good so far!
- High stoploss with low takeprofit