This should not be from the rookie talk.
I use a very easy breakout system of each daily candle. SL in the middle and risk 0.5% - I usually run into a poor span of 20-30 losing trades in a row. ADjust you desire for risk here :--RRB-
This is my egy:
4R target egy
Timeframe: Daily
Start with mount transactions on each and every candle (Pending order)
TP is 4:1R goals
SL is set by half of the daily range (candle)
Pending orders are valid for 22 days (one month on chart)
Pairs:
UC
EJ
GU
UJ
Gold (XAUUSD)
WTI
Expected win rate 26-27%
For BE 20 percent (doh)
Risk pr. Trade 0,5 because of the win rate. Bound to hit on a 35 loss streak and drawdowns if risk.
Not many can or may exchange like this = my advantage. .
Before some of you might disagree with my egy, it's how I trade and it works for me. I see no patterns in market, just walk-levy flight that is arbitrary. Markets usually go farther than we anticipate and there's the technical advantage (positive skewed distribution)
Go try and backtest this for 2017 - you be amazed how well this works.