Hi Nikl, its great to see you're developing a consistent strategy. The key will be to tick with it imo and apply it consistently week to week, month to month. I hope you keep posting your charts, it may get repetitive (like mine), but I ceratinly won't get sick of them and keen to see how you progress over time. I think posting strategy results here is also a good option as an online strategy diary as part of a daily or weekly routine - this is why I am posting my regular updates. A good outcome is that we are still posting regular updates in several months time, no matter what the results.
As for my daily update, I have idenified 2 markets I like for starting my unbiased grid scalping EA on today - the GBPCHF and CADJPY:
Same comments for the GBPCHF as for the GBPUSD yesterday - I may not run this till the $50 GP target, I will run it till the end of the week and then close, on the anticipation of some increased movement/volatility next week on the GBP in the lead-up to their election.
Prior to loading the EA onto these 2 markets, it is currently still running on 11 markets, with a net position as shown below:
The unrealised losses have inccreased quite a bit (-$130) in the last 24 hours due to strong moves on several currencies overnight, however the net position has only increased (i.e. increasingly negative) by about -$30. In part that is due this is due to the USDCHF and USDJPY reversing away from those resistance areas I mentioned yesterday, clawing back about $80 each and to the point now where both have a chance of closing with a small profit. This is one of the characteristics I'm learning about this type of trading - it doesn't matter if it builds up some large unrealised losses, what matters is what the net profit is when its booked the gross profit target, and the trade management mechanisms seem to provide a good degree of latitude to let markets move outside the grid, but then back in.
I have to say I'm glad I forced myself to trade this in a demo account for 2 months to experience how this EA works - if I'd gone straight from backtesting into live trading I would be constantly losing sleep about the unrealised loss behaviour of the EA, but by the time I go live, I will have a good feel for it, and feel much more comfortable (I believe) about the way it works. Time will tell.
Cheers, Sharks
PS: I should add that no runs were closed in the last 24 hours.
