10 Pips Trading
Hi again. First, let me thank you all for your support and votes in the Article Contest. My articles seemed to be appreciated. Second, since I had some pretty interesting comments in my previous 10 Pips Trading article (see articles submitted in August), I decided to share with you my August 2011 real trade results using this method and show you a couple of more examples.
Remember, I am a trader, and this is what I do. One of the comments in my previous article was made by user Adask regarding a floating -550. Well, being the end of month when I saved the detailed statements, those were open positions I didn't close because I did not have any reasons at that time. Was not some lagging loss I was carrying over. And you can see in August 2011 statements that I am about to publish here that they closed just fine.
A quick reminder: 10 Pips Trading strategy is a pretty complex system developed by me after years of studying the markets. It is based only on eur/usd and uses 2 accounts: a 10.000 account and a 5000 account. Both on Metatrader because it allows hedging. Every position once initiated has a TP of 10 pips and no SL what so ever. I am going down the charts from monthly, weekly, daily, 4h and 1h, develop my strategy using Elliott Waves Theory, RVI, Stochastic, Ichimoku Kinko Hyo, Bollinger Bands, Tom de Mark, and a couple of personal adjustments I noticed over the time, but all entries are being taken using the 5 min chart. Sometimes it happenes that I have both longs and shorts opened on same account, and this is because if I'm convinced, for example, of a trend, but the market decided to correct that one, I would not close my initial trades, but ride the correction, opening trades in the new direction, and when it's over, guess what: I remain with the initial trades, and moreover, add some new ones since the correction is over and the initial trend resumes.
Anyway, let's see the results for August:
on the 10.000 account I had taken 208 trades, out of which 197 were profitable (that makes 94.71%); that makes 1970 pips profit on this account; and a total net profit of 4935; (see a link under Comments - decided to put it there because it's clearear to see) ;
on the 5.000 account on the other hand I had taken 1833 trades out of which 1692 trades were profitable (that makes 92.31%); that also makes 16,920 pips in profit for this account; less the 7.69% loosing trades and we have a total net profit of 8695; (see the second link under Comments) ;
Now let me give you a couple of examples using Bbands this time: here's a long on a clear break up;
and here are 2 shorts on a classical Bband rejection and continuation.
As a final notice, all trades are initiated at the closing of the candle.