Getting Closer

OK, I am getting closer to trading live.  Here's an update...

As I mentioned before, at least some of my trading strategy is based on Bob Volman's Forex Price Action Scalping book.  He uses a 70 tick chart.  I am not, because:
1.  The tick count for my broker's platform depends on the first bar in memory, which is different each time.  So, trying to backtest it yields unreliable results - sometimes a signal will trigger, but if tick count is off a little bit, sometimes it won't.
2.  Tick count in Forex mean different things to different brokers, AND probably will not match up well.  I want a method that is broker agnostic.

So, I will be using a 1 minute chart.  Then, I should be able to pick just about any broker, should the need arise.  Plus, I really do not like the platform of my current broker, so I may move soon (I do like their spreads, though).


I am still at 2 unique entries, and 50/50 entries (meaning, for example, 10 pip profit or 10 pip stop).  Of course, those aren;t really 50/50 entries once you factor in the spread.

Volman also advocates using market orders to enter.  I may do this, but I am also looking at limit and stop entries, to get more consistent fills.  I think entering at market all the time will cost me money.


SO, the plan is to trade sim for a few more days, and maybe go live mid week.


I still owe you a post on how I'll track my performance, and that will be coming soon...