This thread will a journal of our 1 Minute Daily Forex Trading System trades.

After using the system for a number of months we decided to migrate onto a new Smart Live Markets account at the beginning of August. This journal will be a record of trades taken on that account.

Please note, this system is on our Systems We Use list as a "growth" account, not, as it typical for us, as "income". This is because we know historically this system has and inevitably will, suffer drawdowns not suitable to an income based strategy. Thus it will not be included in our performance results which are the systems/services we trade for income.

The starting pot for both GBPUSD and USDJPY is £2,000. All trades are taken manually "as per the book" and left to run to Target or Stop. We do not trade GBPJPY. Risk is also as per the manual, an aggressive 5% per trade.

So, here we go - Month 1 ....

GBPUSD

- Starting balance £2,000
- 20 trades, 11 winners and 9 losers
- Net profit = £69.49, circa 3.5%
- Carried forward balance £2069.49

USDJPY

- Starting balance £2,000
- 21 trades, 12 winners and 9 losers
- Net profit = £182.70, circa 9%
- Carried forward balance £2182.70


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

My results are similar but as I have explained in previous posts, I have intervened from time to time so as not to hold positions over a weekend or to protect a profit that in my judgement was in danger of being eroded. I trade cable and USDJPY but not GBPJPY. I undertook 32 trades and missed/declined (non-farm payrolls day) eight including on Thursday for USDJPY and Fridays (except NFR day) for cable. I am up 457 pips for the month including today (cable) but would have been down 58 pips if I had traded everything and not intevened at all. I cannot easily convert this to a percentage as I have used the minimum stake of £0.50 per pip when less is indicated and not started to use the money management calculation until half way through the month. So in conclusion, I reckon August to have been positive under most scenarios, unlike LFO which as you point out elsewhere is close to disasterous.

Like you I will continue to trade the system which I think has potential. I am going to risk 3% on a balance of £1,000 and I will continue to intervene when I think necessary but record what actually happens as per the 'book' to see whether my intervention is beneficial or adverse.

Thanks Daviewg,

That input is much appreciated, as will be your continued updates.

All trades are taken manually "as per the book" and left to run to Target or Stop. We do not trade GBPJPY. Risk is also as per the manual, an aggressive 5% per trade.

GBPUSD

- Brought forward balance £2,069.49
- 26 trades, 10 winners and 16 losers
- Net loss = -£640.10, circa -31%
- Carried forward balance £1,429.39

USDJPY

- Brought forward balance £2,182.70
- 21 trades, 8 winners and 13 losers
- Net loss = -£574.10, circa -26.5%
- Carried forward balance £1,608.60


Please note, this system is on our Systems We Use list as a "growth" account, not, as it typical for us, as "income". This is because we know historically this system has and inevitably will, suffer drawdowns not suitable to an income based strategy. Thus it will not be included in our performance results which are the systems/services we trade for income.

Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

Sorry Reviewteam,

But I do not understand the results as you posted them here for September.

for September you had 21 trades for the USD/JPY. I had 18 trades:

- I had no trade on 1 September because no breakout of the nightrange till end of next nightrange
- I had no trade on 15 September because nightrange was absurd (265 pips compared to average 60 pips for all the other days
- I had no trade on 30 September because no breakout of the nightrange till end of next nightrange.

You had 8 winners and 13 losers, but where are the breakevens? I had Breakevens on 14, 20 and 23 September.

I have an risk of 5% every trade so I calculate how many minilots I have to open to risk only 5% per trade. How do you work then?

How many pips do I win/loss per trade:
A win trade is the nightrange - 1 pip
A loss trade is the nightrange + 2 pips
A Breakeven is a loss of -3 pips
A double loss trade is 2x nightrange + 4 pips

So in this way I go from 1000 euro to 1102,40 euro from 1 September till 30 September for the USD/JPY

How have you done this?

gr Caspar

Thanks for the extra work Casper

31-Aug trade included as it was in a week where there were more working days in September than in August, it was a loser.

3-Sep - No trade NFP

6-Sep - No trade US Holiday

15-Sep - No trade Huge Gap

24-Sep - No trade Double the usual Gap

27-Sep - No trades triggered

30-Sep - No trades triggered

Also we have no break-even trades because we leave every trade to run to Stop or Target so we use the system as a Set & Forget. If you are referring to Break-even being a day when there is a loser and then a winner then they are just counted in our total trade figures because they are not actually break-even trades.

Hope that helps.

Re: Calculating risk to take - We take available balance and then assume worst case scenario for any open trades, so the losing value of any open trades is deducted from our available balance. We then allocate 5% from this value.

Thus if we have a pot of £5,000 and we have an open trade with a Stop 100 pips from Entry at £2.50 a point (£250) then the next trade we place would be for the value of 5% of £4,750.

Hi everyone I said in August I would try this system for 3 months and then decide and report. Time is up and answer with some caveats is I am up from the start by 34% and yes I will continue.

First just to remind you, I trade GBPUSD and USDJPY only, every day except Non Farm Payroll day (1st Friday). I dont like holding positions open over a weekend and I will intervene to change stops or close positions if I see fit. So I am not doing 'set and forget' but I am recording the results for this at the same time. I use the money management system risking 3% but if that results in a spreadbet of <£0.50 (IG minimum), I use £0.50 or, in one case decided not to trade. This magnifies gains (hooray) and losses.

Three month summary (month on month change):

August + 24.5% (all Cable, Japan small loss)
September - 26.9% (Both cable and Japan in ratio 2:1 - and capital down below starting point)
October + 47.6% (Cable and Japan in ratio 3:1)

so Cable is predominant contributor to both gains and losses. Japan useful but not really that significant.

Intervention saved me £193 in August, cost me £168 in September and cost me £37 in October - so effectively no overall effect.

This month in GBPUSD I had 12 'A', 2 'B' and one 'C' and 'one 'D' result (see system for meaning). In September the numbers were 10, 3, 4, 4 so relatively small differences lead to a completely different financial outcome - from misery to happiness as it happens.

I am away first week of November - no bad thing with Non Farm Payrolls on Friday and QEII announcment on Wednesday. I will report back at the end of November on whether happiness has been retained or not.

All trades are taken manually "as per the book" and left to run to Target or Stop. We do not trade GBPJPY. Risk is also as per the manual, an aggressive 5% per trade.

GBPUSD

- Brought forward balance £1,429.39
- 21 trades, 15 winners and 6 losers
- Net profit = +587.20, circa +41%
- Carried forward balance £2,016.59

USDJPY

- Brought forward balance £1,608.60
- 19 trades, 10 winners and 9 losers
- Net loss = -£48.60, circa -3%
- Carried forward balance £1,560.00


Please note, this system is on our Systems We Use list as a "growth" account, not, as it typical for us, as "income". This is because we know historically this system has and inevitably will, suffer drawdowns not suitable to an income based strategy. Thus it will not be included in our performance results which are the systems/services we trade for income.

Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

All trades are taken manually "as per the book" and left to run to Target or Stop. We do not trade GBPJPY. Risk is also as per the manual, an aggressive 5% per trade.

GBPUSD

- Brought forward balance £2,016.59
- 22 trades, 14 winners and 8 losers
- Net profit = +£504.90, circa +25%
- Carried forward balance £2,521.49

USDJPY

- Brought forward balance £1,560.00
- 17 trades, 11 winners and 6 losers
- Net profit = -£275.90, circa +17.5%
- Carried forward balance £1,835.90


Please note, this system is on our Systems We Use list as a "growth" account, not, as it typical for us, as "income". This is because we know historically this system has and inevitably will, suffer drawdowns not suitable to an income based strategy. Thus it will not be included in our performance results which are the systems/services we trade for income.

We will not be trading in December - Note: Our figures for November run to the end of last week, thats because this week has 3 working days in December thus we cut off for November last week.

Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.