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
Essentials: The UltimateSystem system has made 189 trades with an average winning trade of 13.25 pips / , the average losing trade around -43.41 pips / and an average trade length of 9h 47m.
The best trade it ever had was (Jul 27) 58.3 in pips and the worst trade was (Aug 27) -243.0 in pips.
It has won (71/91) 78% of its attempted buys and (77/98) 78% of its attempted sells.
Pros & Cons
- 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.
- Bad risk:reward ratio. Stop loss is more than 2x the take profit.