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Mar 11

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Week 1 and 2 – The Paper Trade

So the first week after some direction setting and confidence building I set to work to hone my skills.

I had a lot to get to grips with such as working at home for the first time and feeling like I am getting under everyone’s feet in the morning and in the afternoon, working the new strategies with my charting package and broker accounts, new IT setup etc I decided to spend 2 weeks trading on paper to get my consistency and execution to a good level.

My daily goal is to achieve a 1% return on my trading account.

Well flicking through my trading log for those 2 weeks, these were my stats :

Trades : 32

Profitable Trades : 16 (50%)

PIP Count : +846

Trading Equity : +7.9%

I focussed on 3 trading strategies during these weeks. two Intraday and one End of day. Out of all trades just two were End of day representing 0.5% of equity growth.

Strategies :

  1. End of Day (Timeframe – Daily) : This is a simple trend follower trade that activates after a confirmation that a retracement has ended.
  2. IntraDay (Timeframe – 5m) : This is a trend follower strategy using price indicator moves over 50ema and 200ema as triggers
  3. IntraDay (Timeframe – 5m) : This is a trend follower strategy using price indicator moves over Pivot Point to S1 or R1

I also use the standard MACD indicator and parameters to help with gauging market momentum.

So I entered the weekend before “going live” on a real high! This will be easy I thought, now how much was that Aston DBS ?

Although it’s just paper, this is my trade of the week. A 54pip move although % profit could have been higher had my stop loss not been so conservative

Trade of the Week - EURUSD Pivot Play +54pips

Trade of the Week - EURUSD Pivot Play +54pips

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Permanent link to this article: http://intradayforextrading.co.uk/2010/03/11/week-1-and-2-demo/

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