This is how the EURUSD day trading strategies from the EURUSD Day Trading Course performed during the month of January. These results are based on trading 1 to 2 hours each day between roughly 8 and 10 AM EST, during the London and New York overlap period. The strategies use a 1-minute chart.
I was sick much of the month (still very tired). I also almost entirely focused on RBs and RT patterns, and ignored most other patterns, possibly due to lack of energy. When I feel fully better, it will be interesting to go through the charts and see if I missed anything, or if I had traded more aggressively how that would have affected the results. My guess is that there are some DPV patterns that I missed. They are fairly common, and some of those would have definitely added to the total for the month.
The results are broken down based on the potential for each strategy. Executing every trade perfectly is not an easy task, so actual trading results will typically be lower (but could be higher, if using bigger targets, for example). The goal is to continually progress and trade the strategies as well as possible. Once we’re trading a strategy well, then more strategies can be added to the trading plan to further boost returns.
A 2.5:1 reward to risk is used on every trade. Early exits are allowed for high-impact news announcements or if another valid signal develops in the opposite direction while in a trade. I also may exit early if it is pre-planned before the trade because of certain market conditions.
The potential profits for the month and all these statistics (discussed below) are based on the strategies and processes discussed in my EURUSD Day Trading Course. The course covers all this and a lot more.
EURUSD Day Trading Strategy Profit Potential For Month of January 2022
The following chart breaks down profit potential by week.
|Jan. 3 – 7||6.19R|
|Jan. 10 – 14||10.5R|
|Jan. 18 – 21 (4 day week)||8.77R|
|Jan. 24 – 28||10.07R|
|January Total Profit Potential||39.13R|
|Average Profit Per Day||39.13 / 20||1.96R|
|Average # of Trades Per Day||38 / 20||1.9 / day|
|January Win-Rate||23 / 38||61%|
|January Reward:Risk||2.4 : 1|
|Average Trading Time||1.75 hours|
“R”, in trading, is a standardized risk amount. It could be 1% of the account, 0.5% of the account, or any amount you choose based on your position sizing method. For example, risking 1% of the account per trade, the profit potential for the strategies was 39.16% for January, less commissions.
To see the charts and trades for each week, see the links in the table above. Chart examples are also provided for each strategy discussed below.
Remember, these figures are based on trading a strategy perfectly, based on the strategy parameters. The goal, which can take years, is to develop enough discipline and focus to approach the ideal/strategy profit potential number in our actual trading.
Also, to realize these returns, an ECN forex broker is pretty much required, ideally with a small spread. ECN brokers charge a commission. Commissions costs vary greatly are deducted from the results discussed above.
Typical leverage is about 30:1. Ranging from 20:1 to 50:1, depending on the stop loss distance in pips. This is what creates the high percentage returns. Understand the pros and cons of leverage before using it.
If you want to see me talk through some trades live, check out the EURUSD Recorded Day Trading Sessions.
EURUSD Day Trading Strategy Totals
These numbers are how each strategy performed. These are trades I viewed as valid, plus trades I missed, less trades I took that I shouldn’t have.
I have included a chart with examples for each strategy.
Rounded Bottoms (RB) and Tops (RT): +34.9R
(By week: 4.3, 10.5, 6.97, 10.07, 3.06 )
Double Pump Variations (DP variation): +4.29R
(By week: 2.49, 0, 1.8, 0, 0)
Double Pump (DP): +
(By week: 0, 0, 0, 0, 0)
Snap Backs (SB): +0
(By week: 0, )
Broken Break (BB) – 0R (Still being researched, but wasn’t really focused on it this month):
(By week: 0, 0, 0, 0, 0)
The EURUSD Day Trading Course covers this entire method of trading, including getting in the right mental state and staying there.
Here are the prior totals (monthly). Actual charts are in the weekly articles listed within the monthly-total articles:
- January 2021: +63R
- February 2021: +78R
- March 2021: +76R
- April 2021: +76
- May 2021: +94R
- June 2021: +91R
- July 2021: +67R
- August 2021: +38R
- September 2021: +51R
- October 2021: +46R
- November 2021: 48R
- December 2021: 53R
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.