Hi Nikl
As you may recall, I think I've said a few times in the past that I consider myself a crap manual trader, one of the reasons I opted to go down the path of full automation with EA's. But I am finding semi-auto EA trading something I can handle, as long as I am using a system that suits me. I needed a system that is very uncomplicated and also very forgiving in terms of getting the entry signal right/wrong, and I am finding this grid based trade management is robust enough for my purposes - i.e. it can generate consistent wins, but is not very punishing if I get it wrong.
Anyway, I would say give it a try if you have the time, you'll be surprised with the results you can get.
Moving on to today's update, I have found 4 markets which I like for range trading over the coming days - the AUDCAD & AUDCHF which have both just completed a run, and the EURJPY and CHFJPY:
In the last 24 hours 4 of the previous runs were completed. The 1st of these is the NZDCAD which did not reach the gross profit target - I observed it wasnt taking many trades and when I checked I realised I had not set it up correctly. My policy is if I have made an error setting something up like this I immediately close it, not let it ride out hoping to get a better position, so this one took a small net loss (-$1.15):
The other 3 runs closed all made a net profit - the EURSGD (+$27.13), NZDCHF (+$15.04) & AUDCHF (+$31.68):
So total net profit for the 4 runs closed since yesterday morning was +$72.70.
Before starting up the new runs mentioned above, there are 4 runs currently open, with the following net positions:
Cheers, Sharks
