System: Main Live
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
Broker: FXCM
Started: May 01, 2015
Views: 10
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
Essentials: The Main Live system has made 433 trades with an average winning trade of 16.82 pips / C$5.24, the average losing trade around -67.55 pips / -C$7.83 and an average trade length of 15h 10m.The best trade it ever had was (Aug 12) 142.7 in pips and the worst trade was (Aug 19) -3883.9 in pips.
It has won (134/188) 71% of its attempted buys and (184/245) 75% of its attempted sells.
Pros & Cons
- Its average win is larger than 10 pips which is usually a good thing.
- Prone to large drawdowns.
- Bad risk:reward ratio. Stop loss is more than 2x the take profit.
