How is it going dude? Any good news? When u have time come online to chat for a while!
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DislikedI think we have to work whit this trade off:
1. Trade with high % winning trades but a bad rawal (average win / average loss) placing large stop losses
2. Trade with low % winning trades but good rawal placing small stop losses.
A solution could be to settle the stop and then calculate the target profit as: stop loss*Ratio (for instance 1.5).
In this way I will obtain a system with a good rawal and a stop that is not to small.Ignored
DislikedGuess what ? This system has both install for you. According to tony, TP of 20 gives about 80% winning rate. Also, tony mention that we have to close the trade if it's 5 - 10 pips against us. With TP of 20 and SL of 5-10, we have both 80% chance of winning and a 2:1 RR. Fantastic isn't it ? Nothing can beat that.
Ignored
DislikedNot so quick... I don't think you will get a 80% winning ratio with a stop as low as 5-10pips... you'll need a minimum of 20pips sl.Ignored
DislikedLets take an example.
candle 1 is a bear, candle 2 is a bull... so we wait to see if candle 3 forms into a bull by 5pips. Then we enter the trade and it should start moving rightaway, if it doesn't and starts to move 5-10 pips against you, thats a alert that you may need to exit the trade since its not moving that well.
Vice versa for bear, candle...Ignored
DislikedTD,
Follow up question to this example. So we take a loss of say 10 pips. Then the price starting to go back into bull territory by 5 pips again beyond the previous candle, do we enter again? Or just wait for the next set up?Ignored
DislikedI trade only the usdjpy mostly with this, sometimes eurjpy. Haven't tried it on other pairs since their too volatile and would move 20-30 pip against me many times, which is too risky for me.Ignored
DislikedHere is USDJPY with very simple rules and h1 (please confirm if I understood the first post correctly) I don't have long m1 data for usdjpy so this is not as reliable as it should be.
Bull candle: previous candle must be a "good" bull candle, open is at lower 25% of the candle and close is at upper 25% of the candle. Vice versa for bear candles.
I enter at new bar open + (- for shorts) 10 pips (with buy/sell stop) and target 20 pips (with tp). Stop loss is always at previous candle low.
Note that I don't use any indicators here,...Ignored
DislikedFor me the rules were
for long:
-down candle
-then up candle (without 25% rule)
-next candle we enter if it goes up too
so we try to trade swingsIgnored
DislikedIs there any indi to spot 2 different candle colors like with sound? i mean it forms a bull and a bear candle and it beeps and vice versa so we could leave the pc and come when it beeps...Ignored
DislikedHere is USDJPY with very simple rules and h1 (please confirm if I understood the first post correctly) I don't have long m1 data for usdjpy so this is not as reliable as it should be.
Bull candle: previous candle must be a "good" bull candle, open is at lower 25% of the candle and close is at upper 25% of the candle. Vice versa for bear candles.
I enter at new bar open + (- for shorts) 10 pips (with buy/sell stop) and target 20 pips (with tp). Stop loss is always at previous candle low.
Note that I don't use any indicators here, just...Ignored
DislikedI have just read the thread twice (short threads are great to get the gist of) and I have to say that the simplicity of this system could make it successful
Far to many of you are asking questions that have been answered. In comparison to alot of threads that involve rediculous indicators and rules to trade, this could be read, understood and traded by a teenager.
Re read the thread until you a perfectly clear on how it works Then try it for a while. It is a simple hour by hour trade that requires nothing more than a candle followed by another...Ignored