Daily EURUSD Briefing & Performance
From mid September 2018 I have been writing a daily diary on the eurusd for www.thearmchairtrader.com. The aim is to set out each day the levels I will be looking to trade together with a macro overview and analysis of the likely direction of the instrument. I will also keep a log of the performance.
Here are a few examples of the Daily Diary entries
Using the 5min chart to I said you were only supposed The Ryder Cup and the EurUsd
take indraday entries. to blow the bloody doors off 01 10 18
03 10 18 02 10 18
From January 2019 I will show the performance of the model strategy I use for trading the hourly (H1) levels noted in each mornings Diary entry. As many traders are not able to be at their charts all day it is important to have a set of rules that allows you to place your orders at the levels I note and allow them to play out accordingly with set stops and targets. While I always try to provide levels sometimes conditions are not always appropriate. For example February needed to be traded from zones and the lower time frames needed to be checked for entries. See below for performance stats.
If you are able to be at your charts the performance can be improved significantly. Consequently the maximum performance noted below is based on active management not on standard model rules.
Below is an example of the charts I post each morning.
Model strategy rules:
Take the first level or zone that is hit either S or R each day and fade the level based on lower time frame entries
Use a 13 pip stop
Target 26 (2x risk)
If the first trade is a loser, trade the next level.
If the second trade loses stop for the day.
If you are able at +26, move stop to break even and manually manage to achieve max pips.
NB: On occasion we need to actively manage H1 trades due to conditions that evolve during the day. At these times I will tweet advice as to what I recommend as appropriate.