Tazmann,
I like that method. Using half the range. That way, you can set it and forget it, rather than wait for the trade to open. I see you opened (hypothetically) both the long and short. Will have to have some more forward testing, but the originator on the closed thread said you should only open with the trend. However, he also said he only traded Guppy, so maybe there's some merit to setting both shorts and longs. The other question is take profit levels. Would need to set them at least at the same as the stop, or more. If you plan to be away from the computer, some TP would need to be placed.
I like that method. Using half the range. That way, you can set it and forget it, rather than wait for the trade to open. I see you opened (hypothetically) both the long and short. Will have to have some more forward testing, but the originator on the closed thread said you should only open with the trend. However, he also said he only traded Guppy, so maybe there's some merit to setting both shorts and longs. The other question is take profit levels. Would need to set them at least at the same as the stop, or more. If you plan to be away from the computer, some TP would need to be placed.
DislikedI took today to catch up on much needed sleep, but from looking at my charts and what I WOULD have done if I could get myself awake here's what I see:
Obviously, the results will depend on your stop in some cases. I base my stops on 1/2 the range from 7am - 9am EST. I also set my limit price with a 5 pip buffer of hi/lo
EurUsd: short +20
UsdChf: long still open and sitting at a loss (probably stop out)
GbpUsd: short +31
UsdJpy: short +10, long +13 and still open
UsdCad: long +63
AudUsd: short +16, long stopped out (long afterward was very nice, if your stop was more than 1/2)
EurJpy: short +18, long +73 and still open and risingIgnored