Hello i have been trying to trade binarys for 2 years with mixed results a lot off losses in the long run but has also taken accounts from 200-4200 in a week ore 2 and taken out profit one time and lost the rest i have now struggeled with Forex for 2 years also so i am getting a grid on how and when a chart moves a coupple of pips that is why my target is mostly 1-3 pips and SL 3 pips on a ECN account with an AUstralian broker not the most famous one but not far away low spread and commision is the key to success with scalping this small...I have done well over some time many times but have problems with disipline and eventually i move the sl and takes a big loss like i did last week i have now a 2400 account that where at 2610 and took a 500+ loss and redeposited 350 give ore take...So i have now tested a EA i have for 7 weeks of a 2500 centaccount and its now after 7 weks over 5300 cents ore 53 dollars i have myfxbook to prove it it runs on 6 pairs here and i have put the same EA on my 2400 account so this will run side bye side with my manual strategie what i am doing to keep disiplined is that i will trade one standard lot with 3 pips SL and if first trade is loss i walk away and take the 20-50 dollar profit the EA is making that day and usually comeo ut a head anyway and if i win first trade i will trade until i get a loss this way i have a edge on the market because one day if a good day you can mayby pull out 10 trades then you can start many days with loss so even with 50% winrate you profit if can follow rules and my system gives 60% in awerage if rules followed...And this is why i start this journal too keep me from breaking rules and embarras myself here i am closing 3 other accounts i have at opening today and are planning to put them into my "big"account also so i can add one more pair making it 4 pairs and a total balance of 3000 dollars but we are tsting out a very promising EA that is for sale and i might have to use my 600 on that instead if that is done i will close the onei use now and add this instead not because better profit but another system with lower drawdown because this EA i use now is kind of a grid but not a full grid and scalping abilitys...So here is proof of my now running EA is making a killing the 34% Drawdown was in the beginning when i tested out some lotsizes and finally falled back at 0.01 and cleared the othersss nicely....I will only trade EUR/USD,GBP/USD and USD/JPY manually i will get back with updates on new year with charts and trades and everyting to follow....Take a look at pips gained and winrate almost 16000 pips in 7 weeks
So heres my screenshot off the account i am starting to trade wednesday i will put my EA on 4 pairs and changed my tactic to trade 1 standard lot with one loss a day to trade 0.3 lots and ake it 3 losses a day stoploss so i will trade manually until i get 3 losses to diversify the risk some not bet all on one card....As you can see i took a 500 dollar loss on this account trading manually opening possisions while it went against me broke my rules totally and that will not happen again so here you see i start with absolute gaines of 15% negative and hopefully that will be recovered within 2 weeks...Ok i will update you after each day of trading
I think that it is great that you have started this thread. It is also interesting for other forum members to have an overview of various strategies that are applied on the market. Btw, you have done very good job, but keep practicing discipline, it is very important on the financial markets
Ok now i have gone fulltime manually scalping on a smaller account than i have done before i have also problems with disipline so i went total haywire on my fisrt day the gambler in me took over and i ended with a 50% loss on fist day so i needed to do some changes to make me stick to the ruls because i know my system is very proffiteble if rules is followed so i am in recovery modus and wednesday too Friday i gained back so i am now only 170 dollars in the hole and i expect to recover that bye wednesday next week so i can start to profit i use very tight stops and high leverage so i dont risk more that 1.5-2% pr trade and have a 2 loss pr day stoploss 2 losses and i am done for the day"didnt follow that on my big loosing day"So i aim for 10-15% a day Heres a screenshot of wednesday the day after my huge loss....