Not bad...
Spot on phoenix, I've been thinking exactly the same thing. The key to creating this system even more successful is to use multiple lots, and have take profits all along the the projection line.
Originally Posted by ;
Hi phoenix,
I think you're right. Thats the nice thing about LIVE trading compared to backtesting: 4 hour candles really take 4 hours to form!!!
Originally Posted by ;
Trading with multiple lots and taking profit on smaller profits could make the whole method unprofitable, since in the event that you become stoped out you would get stopped out with lots
but it's just presumption it ought to be tested with this edition of money management
Hello,
is there anyone who backtested that GMT time best suit for pairs? Ie, GMT best for EURUSD, GMT 1 best suit GBPUSD etc.. .
Hi Ahil,
That is true, but is true of any platform which utilizes multiple lot transactions. Once we've got confidence in the machine, and the understanding that our winners will probably be larger than our losers, and more varied, I believe this is the thing to do. But I agree, much testing is necessary.
Originally Posted by ;
Ahil--good point. Everything depends upon the movement of the pair following the trade is set. Let us say I'm throwing this suggestion out there, due to some things I'm visiting in rather LIMITED backtesting, and a gut feeling.Originally Posted by ;
Ultimately we're gonna have to try this out and see if this will enhance it or not.
WOW.. This thread is like a melodrama slowly unfolding. .
May I share an observation?
Allow me to variety the pubs:
-2,-1,0,1,2
In order for the higher high for a new high, you want the 0 position to become higher compared to -2,-1 as well as the 1,2 rankings. Same with the lower low.
Now, that means, in case a reverse sign is to be born, you will get notified 2 pubs later. . Given this to become authentic, then mathematically, you are always needed 4 pubs to form a fad...
This can be crucial due to a few reasons:
There are 3 scenarios that you will encounter:
1) No resistance lineup, just support line. That usually means that the there is just support line to split. That usually means the trend was going up and more to the point, ONLY.
Two ) Opposite. No assistance line, just resistance line. That means we are waiting for the resistance line to split. That usually means the trend is shing downwards already and ONLY.
3) Pennant. We've got both support and resistance lines, and they cross at a stage later on, and (High - Low) keeps getting shorter and shorter. .
In my observation, the fakeouts come in largely #3. The Pennants may break out, or else they may do a headfake and go another way. Therefore if it's #1 or #2, I'm fairly confident, if it is #3, I'm seeing it closely.
Additionally, fractures from the trend ought to be large motions, so if you are in a pennant, and it is still quite modest bar elevation, be leary of it.
In case you guys want screenshots to encourage what I am saying, allow me to know. . And I chop up a couple of screenshots to post. .
GREAT thread. . I hope we keep it like that!!
If you're using MT4, you can certainly do what I do. .
Close your eyes, scroll back quite a few pubs. . A couple of hundred bars. .
Open your own eyes, then start trading. .
And then press F12 and it'll demone another pub.
That way, you can pretend ahead trading, without even requiring 4 hours. .
;-)