Activated.
Wondering if Yen weakening as 10yr US yields up slightly and some positive talk from Greece. So to reduce exposure on my two EUR/JPY sells, I have placed order to buy EUR/JPY 103.53, sl 103.23, 0.4% risk.
Cancelled order to buy EUR/JPY at 103.53 (for now).
Closed at 1.2950.
Stop losses on both EUR/JPY trades moved to 103.73.
Order to buy EUR/USD 1.2922, stop loss 1.2902 in anticpation of rising trendline. Entry price will change approx every hour. Large option barrier reported at 1.2900 so that's why stop loss is where it is.
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Cancelled EUR/USD buy at 1.2922.
Stop loss on EUR/JPY sell at 103.48 moved to 103.65 (initially 103.78)
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Orders
USD/CHF sell 0.9330, stop loss 0.9360
AUD/JPY buy 79.53, stop loss 79.23
EUR/USD buy 1.2878, stop loss 1.2848
GBP/USD buy 1.6007, stop loss 1.5977
NZD/USD buy 0.7778, stop loss 0.7748
Looking at other potential setups.
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USD/CHF, EUR/USD AND NZD/USD orders activated.
Stop loss on EUR/USD buy moved to 1.2858.
Stop loss on NZD/USD moved to 0.7760
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Stop loss hit on EUR/USD buy.
Stop loss hit on USD/CHF trade.
AUD/JPY buy activated.
moving stop loss to 1.2890 would have been better!
Sidekicker
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This doesn;t make much sense.
At 1% and 1:5 reward you need only 3 winning trades to hit your yearly target.
Hi.
Depends on how many losing trades I have. With risk:reward of 1:5, I need to win 1 in 6 trades (17%) to break even. Slightly more with commissions and spread. So say my edge gives me a win rate of 22% on trades with risk:reward of 1:5. Assuming 100 trades in a year with 0.5% risk on each, my account growth is given by:
[(1.025^0.22)*(0.995^.78)]^100 = 1.16 so a 16% increase.
^ = exponent
* = multiply
This ignores commissions and the times when I close trades for a loss smaller than the original risk.
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