No problem, glad u like it! :)

Hi Psyren, with a $5,000 account, I trade a .01 lot for my first position, and I trade 5 of the six major pairs at the same time (I usually don't do the USD/JPY pair as it seems to take longer to hit my TP). I haven't traded in months as I have been super busy, but will resume trading next week with my new account at LMAX. However, I will be using the strategy described inthis thread instead (I have a slight preference for it).

Psyren wrote:

Hello John! Good luck with your new account ( if you still resumed trading). Last week i finally encountered a, lets say bad trade, i had 8 positions open and i got scared because i was risking to blow my $5000 account ( although its demo, i`m trading it like it would be a live one, and my first position was 0.1 lot ), in the end i closed it at a $300 loss, wiping out a bit more then half of what i`ve made in a month. This trade lasted around 4 days and it has kinda taken its toll on me. Anyway, do you know any way to prevent something like this from happening?
And i have another question, you said you trade 5 pairs at the same time, how do you do that? for exemple i mostly trade eur/usd and eur/jpy ( these pairs have a correlation of +1 ), i was thinking of going short on one and long on the other, so when one of them hit TP, the other one would start this strategy. Is this how you do it? Hmm this sounds like a hedge inside a hedge, might this be hedgeception? LOL .

Hi Psyren, just started trading again the other day, I'm using the other (Ver 2 strategy) though (http://www.forex-central.net/forum/view … ;p=4#p1235). I also prefer it because there's a bit less risk involved (ex: your 4th position will be a .08 instead of a .12 if you start with a .01 lot trade).

A 4-day trade is extremely rare, the only thing I can recommend is to not enter a trade unless the market is clearly trending in one direction or another (this morning I woke up to see strongly trending markets in the 5 pairs I trade, so right now I'm live on 5 different pairs). I also use Fibonacci retraces to time my entrances (whenever possible, I wait for a retrace to end and go back in the initial direction).

When I trade 5 different pairs, I trade them independently of what the others are doing (I guess you could hedge 2 pairs against 2 others as you said but I prefer to enter a trade based on what I think a pair is going to do rather than protect myself from another trade going bad. And with my 5000€ account, I start each pair with a .01 trade. If everything works well, at the end of the summer I will double the size of my account (and initial position).

Ok, after going 20 pips away from the TP, it turned around again and this time hit the TP. Phew, i probably wouldve hit my head on the wall a few times if it wasnt a demo.

good morning for you all.......and you john..
i liked your strategy very much....it is brilliant...
but it has the problem of hitting stoploss ..........it needs to be fixed...may be by some calculations!
i am trying it ....
anyway thanks for sharing  us your strategy.........my best regards