I wanted to start this thread to show people what I am trading and how.
I'm pretty new to trading so no track record but i'd like people to show critisize so I can improve and know where the faults are, as well as, the benefits.
My main aim is to try and raise capital to about £5000 starting with £50 on my spreadbetting account with IG markets.
I'm currently using MA5 and MA25 on a 1min and 5min charts on the FTSE100.
If on 5min chart MA5>MA25 buy with stop loss at 20points and profit at 20points.
On 1min chart MA5>MA25 when on 5min chart MA5>MA25 then buy with stop loss at 10points and profit at 10points.
My aim is to make a minimum after losses of 20points in a day's trading. Anymore is a bonus. At the moment I'm trading 10p per point just to make sure I'm following the strategy and not getting greedy or fearful.
I'm working well with this strategy at the moment and am very good and sticking with it not involving many emotions at all.
I've tested it over the past couple of weeks and seems to work in my favour.
One problem that I found in this strategy is that in a sideways market this strategy will not do well. In a trending market it works well. If the market moves in one direction for about 40 points on the 5min it's good and if it moves 20points in one direction (down/up) on the 1min chart i'm in favour.
I've derived this strategy from others and it's worked for me so far. There's only been one day in the past two weeks where my strategy wouldn't have worked and taken minimal losses so the other days would makes up for it.
All comments and advice welcome.
Viks
I'm pretty new to trading so no track record but i'd like people to show critisize so I can improve and know where the faults are, as well as, the benefits.
My main aim is to try and raise capital to about £5000 starting with £50 on my spreadbetting account with IG markets.
I'm currently using MA5 and MA25 on a 1min and 5min charts on the FTSE100.
If on 5min chart MA5>MA25 buy with stop loss at 20points and profit at 20points.
On 1min chart MA5>MA25 when on 5min chart MA5>MA25 then buy with stop loss at 10points and profit at 10points.
My aim is to make a minimum after losses of 20points in a day's trading. Anymore is a bonus. At the moment I'm trading 10p per point just to make sure I'm following the strategy and not getting greedy or fearful.
I'm working well with this strategy at the moment and am very good and sticking with it not involving many emotions at all.
I've tested it over the past couple of weeks and seems to work in my favour.
One problem that I found in this strategy is that in a sideways market this strategy will not do well. In a trending market it works well. If the market moves in one direction for about 40 points on the 5min it's good and if it moves 20points in one direction (down/up) on the 1min chart i'm in favour.
I've derived this strategy from others and it's worked for me so far. There's only been one day in the past two weeks where my strategy wouldn't have worked and taken minimal losses so the other days would makes up for it.
All comments and advice welcome.
Viks
