Hello, Darwinex friends!
I think it’s about time to come up with a brief description of my trading strategy so here it is.
My strategy is entirely manual. I have no clue about A.I. trading.
My main entry point in the market is based on overbought / oversold market conditions in conjunction with market sentiment and fundamentals. This is where I feel most comfortable and, if the entry point is chosen wisely, the price moves pretty fast in the direction intended and also allows me to have a tight stop.
Other than that I only have one particular price action pattern that I act on, because, as far as I can tell, the market nowadays is less generous with price action traditional methods.
I use daily and four hours charts to have a look to the broader picture of the market and a very squeezed 1 minute chart for precision regarding the entry and TP/SL levels. In fact, all of my charts are squeezed to the maximum which means the candles are not candles anymore, but simple, tiny lines. This is what makes sense to me as the price levels are clearer and there is less risk of getting sucked into some superstitious price action formation.
I aim to have 2% to 4% profit a month with a DD of 3% to 4%.
The 6.54% DD on my DARWIN and 13.78% on my strategy occurred in the first two months of the account when I wasn’t as careful as I am now in regards to the risk management. My personal style is a bit more aggressive and I think that can be seen on my previous two DARWINS with the consequences we all know leverage and greed have. That is why in September I started to use a second trading account where I can afford to risk more(three times higher leverage than on my main strategy).
I withdraw the profits at the end of each month.
I am less active in the second half of the month. I am more relaxed trading in the first two weeks and, once I have a satisfactory profit or feel that I get to the exhaustion point, I stop trading until next month. I do believe that mental exhaustion kicks in sooner or later, after a nice win or after a nasty loss and that can make any trader to become reckless and give the profits back or lose even more.
I used to use Xenith for real time data and two squawqs, but I have seen no consistent difference in terms of profitability. The real time news that is clear cut and of great importance is pretty rare so, for a 10-20 seconds period ahead of the other retail traders, it doesn’t worth it I would say. Forexlive is a great info source and prints the news faster than the two squawqs I have used.
The last thing that I would say here is that the DARWINEX community looks really professional to me. I am amazed by the amount of A.I. traders here and by the precision of analyses of the overall trading business in the community space. I’m still getting my head around the attributes and D score and so on, but I’m happy I found this one place that gives the retail traders a realistic workframe that is not advocated or offered anywhere else. Long live DARWINEX and our profits!