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System: Dimple Developments #1

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

Broker: ThinkForex

Started: Jan 07, 2015

Views: 44

Tracking: 0 users

Currency Pairs: AUDCAD, AUDCHF, AUDJPY, AUDUSD, CADCHF, EURAUD, EURCAD, EURJPY, EURUSD, GBPAUD, GBPJPY, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCHF, USDJPY[/one_half]

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[quote bcolor=”#06afe8″ arrow=”yes” width=”100%”][icon type=”vector” icon=”fa-icon-cogs” size=”32″ hover_animation=”border_increase” ]Essentials: The Dimple Developments #1 system has made 280 trades with an average winning trade of 11.64 pips / NZ$4.52, the average losing trade around -38.41 pips / -NZ$11.99 and an average trade length of 6h 34m.

The best trade it ever had was (May 01) 226.4 in pips and the worst trade was (May 05) -307.9 in pips.

It has won (55/81) 67% of its attempted buys and (155/199) 77% of its attempted sells.[/quote]

[box][icon type=”vector” icon=”enotype-icon-thumbs-up” size=”32″ hover_animation=”border_increase” ][icon type=”vector” icon=”enotype-icon-thumbs-down” align=”right” size=”32″ hover_animation=”border_increase” ]

Pros & Cons

[one_half]Pros

[list icon=”enotype-icon-thumbs-up” align=”left” icon_color=”#4cb218″ ]Its average win is larger than 10 pips which is usually a good thing.,Its average stop loss is less than 50 pips which is reasonable.,Drawdown has been kept under 30% which is good.,[/list][/one_half]Cons

[one_half_last] [list icon=”enotype-icon-thumbs-down” align=”right” icon_color=”#e31616″ ]Bad risk:reward ratio. Stop loss is more than 2x the take profit.,

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