8 Out of 12 Trades Won Last Friday

Statistically, 66% of my trades were winners. But 8 winners with 15 pips each did were easily offset by my 4 losses with 30 pips each. So my total pips gain last Friday is 0 pips. :) 

One trade the whole day!

Wow, only one trade has been triggered for today and unfortunately it went bad.. - 30 pips..

I lost -45 pips

Sadly, for two consecutive days, I lost another -45 pips. Within the day, I traded 9 trades 5 of which were in profit and 4 in losses. Though there are more winners than losers, my account was at -45 since my stop loss are greater than mi target profit. 

Good luck for tomorrow's trading. I can sense that all winners for tomorrow, no losers.

I lost -20 pips

Out of 11 trades yesterday, I managed to have 6 winners and 5 losers. So basically, I lost some pips yesterday. But as they say say the show must go on. I still have lots of days to trade.Hope today would be a great day. Good luck!

Almost Breakeven

As of tonight, I had 6 trades. 4 of them winners of 15 pips each for a total of 60. But two of my trades went south, 1 for -30 pips and the other was of -40 pips. I was in shock to see that my stop loss was at -40. Maybe I made a mistake in placing my -30 pip stoploss. I hope my pending 5 limit orders can offset the loss of -10 pips.

My Screenshots

As promised, here are the screenshot of my trades for the last 7 days. By the way, I stand corrected, the number of trades are 53 with 44 winners and 9 losers and not 46 winners and 7 losers as previously posted. Mea culpa.

Anyways, here are the screenshots:

My Trading System

My trading system is based solely on Fibonacci backed by 2 EMAs. No more, no less. You might be wondering why so simple. But I tell you friends, it  might be very simple as it may seems to be but it gave me a lot of pips for the last 7 seven days. First, a trend must be identified using the 30 minute chart. By the way, this strategy is inspired by the strategy perfected by Mr Vance Williams of Forex Art of War. With this, I am very thankful to him for creating this system.

Now after identifying a trend through 30-minute chart using 21 and 55 EMAs, we will wait until the price hit the 38.2% retracement level wherein our limit orders are already posted. and VOILA! We're in business!

The target profit is 15 pips and the stop loss is set at -30 pips. For the last 7 days of testing this strategy, it managed to open 53 trades, 46 are winners and only 7 losers on EUR/USD, GBP/USD, USD/CHF, AUD/USD and NZD/USD. That's a whooping 480 pips in profit. Very, very simple and very profitable.

I will post a screen shot on my next post. Good luck. I hope you find this blog informative and helpful. Keep on checking guys. And oh, before I forget please do follow me on Twitter  @attychemayo and #simplefibonacci.