Ok so i haven't posted for a while as i've been busy studying and getting a new strategy together. I have been paper trading with this new strategy for the last two weeks and it appears to be working very well so far.
The new strategy is as follows;
- Look for high to ultra high volume on up/down bars
- Look for confirmation, either an upthrust/test or no demand/no supply depending on whether it's a sell or a buy
- Stoploss at the nearest high/low or a few pips above/below previous bar
- Use the 3% rule (only willing to risk 3% of total account amount)
- 1:1 win loss ratio
Seems to be working pretty well so far, i've identified a good few setups with only the one loss so far. I intend to give this strategy a good test run before using real money. It'll more than likely be around January time when i look to start trading it for real. So that gives me around 12 weeks more through October, November and December with which to test the strategy.
I'll post the last two weeks trades in two separate blog posts now.
Cheers,
KFT
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