T20 - second 20 trades

[Rols]

I am posting this as a new set of T20 - I changed platform back to MT4 to make recording of the trades more precise and clear, and instead of posting all the trades at once, I will post them as they occur with one screenshot.
I am still using live account with up to .5% risk per trade and hopefully 1% profit targets.
Here is copy of trading plan:

What are you planning to trade?
Forex Pairs – E$

What is your trading style and time frame for trading?
Setup 1 and 2 in M1 chart – with M5 and H1 in view for looking at longer term trend and correlation of indicators and set ups

Identify the key indicators in your trading system and why you use them.
Aims BoxAimsgator
eWave oscillator
Support and resistance lines
Trend lines

Describe your chart set-up for each strategy.
Chart set up is the same for the M1, M5 and H1with above indicators on each chart

What is your daily premarket routine?
Trade the London open session for the first 2 hours
Check news with possible impact
Review rules of set ups
Look at monthly, weekly and daily charts

How do you analyze the general market conditions?
Note ADR levels and significant support and resistance levels
Fibonacci levels for trend trading ranges
eWave counts on each time frame

How do you determine the position size traded (what is your percentage of capital at risk for each trade)?
Account size: $500.00
Risk < .5% per trade
Always aim 2:1 win loss ratio - FIXED RATIO
Weekly risk – no more than 3% ($10 on $500 account). If this is reached, there are no more trades to be placed
Trade Size – 2 micro-contracts per trade

What are your profit targets?
Trade with a trailing stop loss behind the aims boxes – if I think a significant level is reached I would exit trade – for statistical purposes 20 pips should be a minimum target
If there are 3-5 red or green candles taking price away from the gator lines I will trail a stop behind the previous bar

How many trades do you intend to take per week per given style?
There is no limit, but generally I would only trade 1-2 trades per session, depending on the quality of the set ups

How much time will you devote to trading in a given day or week?
3 hours per day? (chart trading time – lots of other hours practicing)

Specify and print out your chart set-up for strategy.

OCT25 E$.png

What are your criteria for entering trades?
Sleeping alligator
eWave oscillator close to the zero line
Blue or a red dot
A key support/resistance level (supply and demand)

How do you determine your potential profit area for your exit strategy?
I look at eWave target zones and supply levels

How do you determine your stop loss on each trade?
Above or below the Aims box – max of 10-15 pips

A pro-forma estimate for projected trading net revenue.

a. What are your estimated # of trades per week?
10
What is your monthly estimated win/ loss ratio?
1:2 @ 60% success
What is your estimated profit (pips, points, ticks or dollars) on weekly and monthly trades?
Weekly
10 trades per week @ 60% win loss with 1:2 win/loss ratio
6 wins @ 20 pips = 120 pips
4losses @ 10 pips = 40pips
net = 180 pips
This weekly figure is ?% increase on initial capital
Success is dependent on 60% win ratio and achieving minimum 20 pip targets
Success is also dependent on DS

Trade 1
Risk 6 PIPS- Result was Break Even – moved trailing stop to Break Even too early - in retrospect moving it to 5 pips after 8-10 pip profit –
loss was minus .22% Potential profit went to 32 pips

OCT25 E$.png

[immy]

May I suggest a quick Tweak. Chose 1 Pair. and trade M15/H1 combination. Period. Only for this Discipline training.