Aim of strategy is to trade at the start of the week when usually and
relatively there are no very big movements. Additionally strategy
activity is limited to trade only during Asian session and start of
European session, i.e. from 0 GMT till 9 GMT, in order to limit
strategy activity to less movements periods also. Principle of
limiting it is realized through weekly
positions counter which allows opening no more than 12 positions
during week. Logic of such approach is that if there are not very big
movements from weekly candle open at the start of the week there
could
be sharp movements later and if movements are quite substantial later
returns are quite possible.
Every week first trade direction is determined by comparing latest
tick to previous 10 min candle open price. If latest tick is higher
than previous 10 min candle open long position is opened and if lower
- short position is opened. Next trades are in opposite direction to
previous ones.
Every Friday if there is opened position (but aim is not to have
opened position by limiting positions number during week) trailing
stop of 3 pips to position is attached and stop loss is moved to 10
pips from position in order to close position before weekend. Also
during Fridays position size to be used for next week positions is
determined based on account equity - if equity > 125000, position size
is set to 10M, if equity >150000 - 12M, if equity >175000 - 14M, if
equity > 200000 - 16M. Initial position size is 8M,
SL - 300 pips, TP - 3 pips.