DislikedYes, there are no doubt many of us interested, and eager to see how this does in both trending and ranging markets.
The only suggestion I have for you is that not all people are in your timeframe, and to remember that many of us would like to follow along but can't identify with statements like these: "In case you have not noticed this system is designed for people who want to place a trade before breakfast and close it down when they get home from work."
If I traded that way, I would be opening about 8:00 AM Eastern Time, which is noon GMT, then I would be closing at about 6:00 PM which is 2200 GMT. I don't think this is how you have designed this system to be traded. Or is it?
Thank you.Ignored
I based the system on the Daily candle supplied by IBFX. To be honest I do not know what time they open and close the candle compared to London time.
I am not sure but I do not think that your time zone is that important. Basically I am asuming that the market will seek to take out stops at yesterdays high or low and then it will resume the original trend.
Today I was at home so I was able to see how todays trade developed. It was fascinating. The market came down and we had a fill. The trade went against us for 6 or 7 pips and then went up by 48 pips. Of course I waited until 4pm my time to try and close the trade. By that time we were negative. Maybe this is a fault in the system. If we are 48-50 points up on the first trade in a sequence why should we accept -20 at the end of the day. I will look into this. I am not too bothered because I still think that we will make a profit on this trade or this sequence of trades.
Can I re-iterate that I would like to think that I am the only one using real money to test this thing. I do not mind losing my money but I would have to withdraw if I thought that other people were putting their money at risk.
I have mentioned previously that I am looking at a filter to improve my trades. I am not sure whether or not it works, however it is indicating that tomorrow is not a day to open new trades. I will leave my open trade in place but will not open any new trades. As I have said the filter is not proven and I still like the original system for it's simplicity. I will of course monitor the original system's performance tomorrow.
The MACD setting that I use are the default settings used by IBFX