Originally Posted by
;
Hi everybody.
Last 2 weeks I was thinking about system based only on a good money managment and good RRR. Without any tools.
My pair is Cable because is volatile what is important for this system.
Daily in some specific hour (7:30, GMT 1) I open a trade in direction of last moment. My SL is -20 pips from open and TP 100 pips. I proceed SL to BE after 40 pips.
The main part of this system is money managment. When the RRR is 5:1 I will have 5 losing transactions in row just 6th trade I will open trade with much more lots. Here's the chart of position sizing.
Trades Lots
1. 1
2. 1
3. 1
4. 1
5. 1
6. 1,5
7. 1,5
8. Two
9. 2,5
10. 3
11. 3,5
12. 4
13. 5
14. 6
15. 7
16. 8,5
17. 10
18. 12
19. 14,5
20. 17,5
21. 21
22. 25
With all these place sizing I will cover all previous loses.
Since 28.7.06 (that's 171 trading times ) in my backtesting were greatest 12 losing days in row and next day covered all loses. Circle is finished after good trade (TP 100 pips hit).
Risk is never biger than 1% of account on begining of circle.
The percentage of good trade is about 19%. So with each 5 losing transactions is a really good trade.
I'm testing it live today with my micro account. Now was losing trade in row so tomorrow I'm opening with 1,5 lot. Will see what this system could do.
Any comments welcome.
Many pips to all
Peter