Performance, and performance alone, dictates the predator in any food chain.
SEAL Team saying
Daily EURUSD Briefing & Performance
From September 2018 to August 2019 I wrote a daily diary on the eurusd for www.thearmchairtrader.com. The aim was to set out each day the levels I was looking to trade together with a macro overview and analysis of the likely direction of the instrument. I also wanted an independent record of performance - see below. I no longer write this article (no reason other than time constraints) and now focus more on trading the Dax.
The performance noted above was for the first 6 months of 2019 which I´ve shown here to indicate how taking a set methodological approach to trading the instrument paid off.
While the results speak for themselves, they are (and were) in the main limited to trading on a very conservative basis with a model strategy aimed at traders who could not be at their screens full time. I posted the levels each morning to readers highlighting where to short or go long and we stuck to -13 stop and +25 1st target.
Once the stop was hit we would wait for the next level although on most days we didn´t get a second bite. If we hit the 1st target we generally closed the trade. Occasionally I updated the readers during the day if I felt we should hold for more and or to take partial profit or (in exceptional circumstances) amend the stop. This accounts for results which are not in multiples of 13 or 25.
As we progressed from January the ATR on the eurusd starting to narrow and the instrument went into a tighter consolidation phase as conditions in the market and context started to change. At the June point I decided conditions were not as good to trade the eurusd using this method and we ended the exercise. That is not to suggest this type of method can´t or won´t continue working, more that there are better opportunities to be had. Trading the Dax for one!