[nagamanju]

Hello All

I am very much new to forex and currency trading.
Mainly interested to trade in Eur/Usd.
I use my own trading style and strategy to pick a constant 50 pips (in any type of market movement)
Now i am practicing with a Demo Account.

Please find the attachment for my demo trading report for the duration 02/04/2012 to 24/04/2012 (17 trading days).

Also i am new to Mt4 platform too, that's why i cant able to read (understand) the report fully.

Please suggest and explain me weather my 17 days trading report seams "Excellent or Good or Bad"

[cherpu]

what is your trading style and strategy?

[nagamanju]

Originally Posted by cherpu

what is your trading style and strategy?

Hello cherpu.....

I will explain it soon

Please tell me using my attachment weather my trading report is good or not.

I know that my trading out put is good, because i made my account double with in 17 days, but what i need to know is what the report says (again i am telling that i am new to Mt4 that's why i cant able to understand what the report says)

[pippimp]

Nagamanju,

A quick look at your report reveals that this is very good! You Max drawdown is less than 15% (.. if you can get it anywhere in the single digit % that would be excellent but overall your entries are good since you drawdowns (trades going against you) are being controlled). You win rate is 70% and as long as you can control the average loss per trade and make sure it is around or less than the average profit per trade then you will have a winner!

One thing to consider is you use some sort of stoploss EA, like Swiss Army EA, which will prevent a large loss in the event the market severely goes against you. This is can be gotten for free just google "Swiss Army EA forex" and several forums should come up where you can download it..

Good Luck!

Theo

[nagamanju]

Originally Posted by pippimp

Nagamanju,

A quick look at your report reveals that this is very good! You Max drawdown is less than 15% (.. if you can get it anywhere in the single digit % that would be excellent but overall your entries are good since you drawdowns (trades going against you) are being controlled). You win rate is 70% and as long as you can control the average loss per trade and make sure it is around or less than the average profit per trade then you will have a winner!

One thing to consider is you use some sort of stoploss EA, like Swiss Army EA, which will prevent a large loss in the event the market severely goes against you. This is can be gotten for free just google "Swiss Army EA forex" and several forums should come up where you can download it..

Good Luck!

Theo

Hello pippimp.....thanks.....

I understood and agree with you that i will try to keep control my average loss.(presently loss average is more than profit average because i was initially struggle with my new strategy and got 2 losses in a row ......that's why.....but now i am clear with my strategy ).

Also thanks for your "Swiss Army EA forex" suggestion, but presently my strategy is purely "Indicator free....Ea free.....stress free....", but definitely i will plan to combine the Ea with my strategy.

[Dominator4fx]

Originally Posted by nagamanju

Hello pippimp.....thanks.....

I understood and agree with you that i will try to keep control my average loss.(presently loss average is more than profit average because i was initially struggle with my new strategy and got 2 losses in a row ......that's why.....but now i am clear with my strategy ).

Also thanks for your "Swiss Army EA forex" suggestion, but presently my strategy is purely "Indicator free....Ea free.....stress free....", but definitely i will plan to combine the Ea with my strategy.

I am trading using the combination of the Charts and the Indicators. Which is why i will say that i do not prefer to use any EA based trading and more inclined towards the manual system of trading.

[nagamanju]

Yesterday market moved good.....

But i cant able to make profit because i was struck in between(center) the market wave.....(always my target is 50 pips)

Today i got 50 pips.

[nagamanju]

Hello All......find the attachment for my (fully not mine) strategy.....

I use 50 pips target instead of 20 pips mentioned in the attachment...

Happy Pips......

[nagamanju]

Today again got 50pips in buy (today totally 100 pips)

[marcramon]

What prs are you trading with this system
Regards