PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
Dreamliners’ MPAS EAs, Indicators, etc 298 replies
Simple, pure mechanical H4-System, EA needed 70 replies
Two-Stroke System (Mechanical Price Action +300 pips per month) 118 replies
Intraday Mechanical System Strategy 0 replies
Spreading risk with a mechanical trading strategy/s 6 replies
Dislikedtake the time current bar (open time) then time of the next bar opening (the bar to the right) time will be off sometime 2 - to 4 mins no problem
I did december 22 take a lookIgnored
Dislikedtake the time current bar (open time) then time of the next bar opening (the bar to the right) time will be off sometime 2 - to 4 mins no problem
I did december 22 take a lookIgnored
DislikedHere are my results running through simulator. I need to do some verification of the data when I get the time, but thought I would post now for others to review if desired. Conditions are:
- Week of Dec 5, 2010
- EURUSD using Dukascopy tick data (converted to US Eastern Time)
- No commissions or swap calculated
- 30 pip range bars (based on bid)
- Alert 10 pips from bar open
- When alert triggered, pending trade set at bar open
- When trade triggered, SL set at -10 (not including spread), TP set at close of bar
- When bar closes, start all over...Ignored
DislikedHere are my results running through simulator. I need to do some verification of the data when I get the time, but thought I would post now for others to review if desired. Conditions are:
- Week of Dec 5, 2010
- EURUSD using Dukascopy tick data (converted to US Eastern Time)
- No commissions or swap calculated
- 30 pip range bars (based on bid)
- Alert 10 pips from bar open
- When alert triggered, pending trade set at bar open
- When trade triggered, SL set at -10 (not including spread), TP set at close of bar
-...Ignored
DislikedHere are my results running through simulator. I need to do some verification of the data when I get the time, but thought I would post now for others to review if desired. Conditions are:
- Week of Dec 5, 2010
- EURUSD using Dukascopy tick data (converted to US Eastern Time)
- No commissions or swap calculated
- 30 pip range bars (based on bid)
- Alert 10 pips from bar open
- When alert triggered, pending trade set at bar open
- When trade triggered, SL set at -10 (not including spread), TP set at close of bar
- When bar closes, start all over...Ignored
DislikedWhat would be the result if the hard SL was 10, hard TP 20 and we set pending set-and-forget orders at any possible range bar?
BTW: I personally find it impossible to trade with 10 pip SL... But maybe I am wrongIgnored
DislikedWould somebody please answer me what I got wrong?
http://www.forexfactory.com/showpost...7&postcount=91
I think that TP has to be ~20 pips and not the Close of the barIgnored
DislikedI'm with you, that is why I'm changing to 50 pip range bars with 20 pip triggers and 30 (or end of bar) targets.Ignored
DislikedI have not seen a consensus on the where the TP should be. So I picked the close of bar for now.Ignored
DislikedWhy end of bar? It spoils the R:R ratio, I am afraid...
If you have a hard SL defined in a number of pips then you should not set a TP at a random place like end of bar.Ignored
DislikedNo, take profit is end of bar. We are only trading one bar at a time, not swing or position trading.Ignored
DislikedWe are only trading one bar at a time. We will not trade if we have less than 1:1 R:R. So when market drops 20 on a 50 Pip range bar, it triggers an alert and we enter a buy stop at the open. However, if it continues to drop past 25 we cancel the buy stop as we will not be trading this bar.Ignored
DislikedI do not like the idea... I would prefer to set SL to BE and leave the position open at the end of the current bar if in profit. Otherwise, you cut your profits short.Ignored
DislikedIf the TP is the Close of bar you will never be able to calculate the R:R.
TP has to be known in pips or regarding the SL size but not just a "Close of bar".
Close of bar may be sometimes near the Open of that bar, while the price before that Close, was already 15-20 pips away in your trade favour.Ignored