Week Two October

Really rough week this week. Had some success at the end of the week with Gold though so that put me in profit for gold but fx is down 8x risk

mistakes:

Over-trading a bad market (JPY). Then I didn’t trade when it ripped.

Next Week

I want to try something new with minimum size: On US2000 I put in a trade at the beginning of each day and hold for a 0.5 win rate. entry is long above the 300 or short below the 300. Stop at the 300 and bring down with it. If 300 is really far away try the 50.

It seems crazy to have such a small r:r but if I move the stop down with the MA it’s unlikely that I’ll take a full loss. It also means I can just hold onto a trade for days and not worry about it.

After a bit of backtesting I’m thinking that maybe it’s best to go with a 5x atr stop in the direction of the 300 and if the price is between 300 and 50 wait for a reversal. Otherwise waiting for a reversal doesn’t seem very helpful

For things like AUDUSD which are choppy and don’t trend much: fading the recent high low with 5x atr and 1:1 rr works really well

Plan

AUDUSD

Fade the high/low

US2000

0.5 r:r

AUS200

5:1 rr short only

JPY

5:1 r:r

Gold

Give it a bit of a rest