forextrader1990, If you don't mind me asking...what's your percentage win rate since the start of your trade journal here at Elitetrader.com ??? wrbtrader
It's ok. I think my strategy profits 99% totally. During months. During a year. I mean I will probably take profit during a year. But I can't say a monthly percentage for it. Because it's so different between months. I started with a 10000$ account and it's now 13000$. 30%. Volume is 0.10 but it could be 0.20 and the percentage could be 60%.
I edit my strategy. How I trade? For example, In an uptrend trend line, When the price breaks out the trend line, after 50 pips, I buy. I put 40 pips TP and put the SL, 50 pips in below of the 261.80% of the Fibonacci. The SL is big but I have to put a big SL. And it profits about 99%. If the price touched the 161.80%, I buy again. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the Fibonacci. Sometimes 161.80% of the Fibonacci is near to the break point. In these cases, I use the 261.80% instead of the 161.80%. I work in the H4 time frame. But sometimes I trade in daily time frame and the first trade will be on a different point. For example 100 or 150 pips. Sometimes the first SL is so big. In these cases I may trade about the middle between the first trade and the 161.80%. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the Fibonacci. For the first trade, Sometimes I wait more than 50 pips for a better TP. If the price touched the 261.80%, I buy again and the volume will be *3.