The EURUSD day trading strategies produced a potential profit of +18.1R to 25.57R this past week (“R” is described below). The strategies used, and their statistics for the week, are outlined below. The strategies have rules, but trades are discretionary or subject to interpretation. The goal is to reach the profit potential (or possibly exceed it), but actual results will typically be lower especially when learning.
The profit potential is based on trading a 2-hour window between approximately 8:30 to 10:30 AM EST. Although mid-week I started trading early, between 8 and 10 AM EST, and will continue to do that most days (due to fitness training schedule).
I trade on a 1-minute chart and use the strategies discussed in this review. The week’s charts with the trades are below.
Get all the details on how to trade like this in the EURUSD Day Trading Course.
Totals for this week:
- Potential Profit was +18.1 to 25.57R for the week. This is if all the valid trades were taken, and no invalid trades were taken.
- The profit potential is a range this week because Friday, June 11, could have easily had three losses in a row which is when I typically stop trading. There was a winner between the losses, but it just barely hit the target. So that day could have been -3R, but if you survived the early losses there was +4.47R potential that day.
- “R” 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.
- There was another 5R in optional (add-on to an existing position) trades available, brining the total up to more than 24R.
- In other words, if risking 1% of the account per trade, the potential profit from these strategies this week was 18% to 25% (less commissions), trading about 2 hours per day.
- I recorded my day trading session on Feb. 11 and Feb. 17 if you want to watch me trade and talk through the process.
- 15 wins / 26 trades = 57% win rate if the strategy rules were followed.
- Reward to Risk (based on all potential trades):
- Winners: 1.3, 2.8, 0.5, 2.5, 2.5, 2.27, 2.51, 2.98, 1.94, 2.49 = 21.79 / 10 = 2.179
- Losers: 1, 1.1, 0.39 = 2.49 / 3 = 0.83
- 2.179 / 0.83 = 2.625:1
- There were a few Broken Break trades this week. Still working on that strategy. -1R, -1R to 0.5R, 4 to 5.5R, -1 to 2R, depending on whether taking exiting on reversal pattern or holding till target (5.5)
- Missed trades cost me 2.5R this week.
- Other mistakes cost me 0R. And had some nice trades for bigger than 2.5R.
- Typical leverage is about 30:1. Ranging from 20:1 to 50:1, depending on the stop loss distance in pips.
A lot of these stats you can track in the free and downloadable forex day trading log (Excel spreadsheet).
EURUSD Day Trading Strategy Totals
These are optimal results for the strategies, including trades I missed and excluding trades I shouldn’t have been in. This is so I can ascertain over time which strategies are working the best and producing the most profit potential.
- Rounded Tops and Bottoms strategy profit: +17.6R
(Daily totals: 3.15, 8.75, 1.5, 3.7, 0.5)
- Snap Back strategy profit: +3.5R
(1, 0, 0, 2.5, 0)
- Double Pump strategy profit: -0.5R
(0, -1, 0, -1, 1.5)
- Double Pump Variation strategy profit: +2.47R
(0, 0, 0, 0, 2.47)
- Squeeze Play (SP): +2.5R
(0, 0, 2.5, 0, 0)
- Triple Pump: 0R
Daily Charts and Trades
Charting provided by TradingView.
My Focus For the Upcoming Week
My homework for this week is to continue digging into the big false breakout patterns that tend to occur on lower movement days. I have long been a fan of false breakouts, and their power, and I have traded them quite often over the years. Each weeks provides some new “contexts” to explore and make up rules for. So With new trades coming up this past week, I can start better formulating those rules/guidelines.
I will also go through my April charts and see what I missed, with a specific focus on DPV and snapbacks. I notice RTs and RBs easily and they are my main focus, but that may mean I sometimes don’t see patterns for the other strategies.
Here are the prior totals (monthly). Actual charts are in the weekly articles listed within the monthly-total articles:
- January: +63R potential
- February: +78R potential
- March: +76R potential
- April: +76R potential
- May: +94R potential
Want to learn how to trade like this? Check out the EURUSD Day Trading Course. It covers strategies for crushing the EURUSD in two hours or less, as well as mental game work and exercise to get in the profit-making zone and stay there.