Ras ID: 30408
Unikely to take any more trades today, thus my summary for the 1st week is as follows:
- 81% win rate.
- growth in account of 12.39% (GBP 1239.22 or USD1936.86) on a GBP10 k account.
- 360 pips gained.
- approximate max equity drawdown 3.6% and balance drawdown of 1.8%.
(note: I am registering with myfxbook and will share link to my page once finished getting my results validated - hence the reason for the current pending order for E/U @ 1.000 - for myfxbook verifcation reasons - I don't envisage EU getting down to that level...well, not yet anyway.)
All in all was an OK week, should have held onto a couple of positions longer, in particular the EUR/AUD short.
Hmmm it seems I have to have 10 posts before I can post 'links' thus I'll post links to myfxbook when I've obtained 10 posts.
I few more notes on my trading style:
1. I take trades on the weekly, daily, 4H and 1H chart time frames across all pairs available to me on FXPro but only trade intraday on the JPY, USD pairs and EUR,GBP CHF/xxx
2. I don't trade Friday's that often unless I see a high probasbility setup for a few quick pips intraday.
3. My style is based 80-90% on technical analysis and the remainder on fundamental analysis.
4. I do stay away from big economical news events.
I take all the trade posted on my signal on my live account, but I also take additional trades on my live account which are more aggresive than what I'm willing to to trade through RAS - the focus is on high probability setups, a high win rate, low drawdown and proper money management.
Just been looking through other signal providers and notice that most of them use a standard lot size and then recommend a lot multiplier based on the user's account size and sometimes they state the average/maximum stop size.
My approach is different in that my stop size will vary depending on the setup, pair and time frame I am trading and thus just using a standard lot size and a multiplier will not be effective IMO...therefore I just recommend that people choose a multiplier based on their account size compared to mine (GBP10k) and if they want to risk 'less' per trade they can decrease it further.
Although, as pointed out before, I am running this account in a conservative manner and taking what I consider high probability setups only.
I would note that if your account is small you may need a micro account as most of my lot sizes will be around 0.2 - 0.8 and thus you'll need to be able to trade micro lot sizes if your account is for example GBP1k in size.
I trade this acocunt using FXPro currently, but will probably switch to Alpari UK at some point (on my live accounts I use Oanda, Alapri and FxPro as well as spreadbetting firms like IG Index, ODL and E*trade).
Overal I am aiming for this account to have a high % win rate >70%.
I don't have aims for weekly, monthly, yearly balance growth as I trade what I see as high probability and that varies depending on what the market is doing. Last week was >12% increase in balance and in fact it should have been nearer 20% IMO, but this will vary from week to week and from month to month and we will have some losses and some losing weeks I'm sure.
But with proper money management and stop losses used then these losses are just part of the cost of this business IMO.
One trade that I missed (very annoyingly!) last week
G/U had broken below 1.5800 in recent days and as you can see this is a breakout from the sideays movement this pair has been trading in. The 1.5800 was a strong support area with multiple tests as can be seen from the arrows.
I wanted to short this pair from the 1.5800 area. Looking at the 4H chart you can see the bearish flag pattern that price had formed. Also at 1.5800 area price formed a bearish outside bar, this would have been a very hgh probability entry for a short with the initial target the bottom of the 4H channel.
I completely missed this trade though and thus tried to catch the breakout of the channel, but we had a false breakout at first and then a pull back and I got caught on the pullback for a loss. I decided to get out of this trade and wait for a better entry on a pullback mainly because I was also long NZD/USD and GBP/JPY at the time which as you can see worked out well.
Thus I am still bearish on this pair below 1.5800 and will wait for a good re-entry point.
Once I have enough subscribers I'll open a private group so I can share my thoughts on potential trades (so you can take ones I miss!), reasons behind my entries and how I trade more aggresively on my personal account.
Only 6 more posts until I can post links 
All the best.
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This is a manual 'system' based mostly on technical analysis across all the time frame periods from the 1HR to Weekly - focussing on support, resistance, fibs, trendlines, divergence and price aciton. Note - this is not a scalping system.
Focus is on taking high probability setups.
Money Management:
On average I will risk 1-3% of the available equity per trade with an absolute maximum of 5% (which will be very rare!).
I am running this off a GBP10k account and thus the lot size is in line with the money management style mentioned above for this size account. Therefore please use a lot multiplier in line with your account size.
Trading style:
As mentioned above, the focus of this signal is to take high probability setups and thus achieve a high %win rate. I evisage no more than 10 trades being open at any one time (although it would be rare to have more than 5 open at any one time).
I will also not over expose the account to one currency pair e.g. I won't be taking 5 trades at 2% per trade all against a different USD currency pair!
I use hard stops at all times and will move stop to break even at regular intervals. I may also take partial profits on some trades.
Any questions feel free to ask.