Using my results from the previous post, I will insert some comments which I think show the difference in trade results because stockwet is using an EA and I am not. My trades are based on observation and discretion in addition to the RSI/MA cross signal.
Quoting stockwetDislikedGuys,
I'm kind of puzzled by all of these good trades this week. My EA showed a nasty week this last week. Here are the trades (format: Date : Direction Currency: Lot 1 / Lot 2)
- 11/14: Sell GBPUSD: 40/50 I got this one for +56
- 11/14: Buy USDCHF: -57 My signal was for the following day and I set a small T/P becasue the price was near the Vegas Daily Tunnel
- 11/15: Sell EURUSD: -52 I passed on this trade because I already had one trade with this pair at the beginning of the week and it struggled to produce +40
- 11/15: Sell USDJPY: -59 I had already traded this pair with a buy that struggled to B/E........AND the price was right on top of the Tunnel. I'm NOT trading that setup!
- 11/15: Sell EURJPY: -48 Price was almost on top of the Tunnel and a sell was against a strong trend. Again, I won't trade that setup.
- 11/16: Buy USDCHF: 40/53 I only got +30, discretion in action.
- 11/17: Sell EURUSD: -48 No trade....price too close to the Tunnel and against the trend
- 11/17: Sell EURJPY: 40/open I didn't get a signal here, no cross....???
I'm using the normal entry settings with ATR 70% as the SL. I also move to B/E at 40 pips and trail at 65 with a 25 pip trail. I'm wondering if the ATR SL is too tight. But, looking at the charts, I would have been stopped out on many of these even if I had used the previous bar as the SL.
I monitor all fozzy entries to make sure they also visually line up with the indicator. The entries are dead on with the EA. The account is an FXDD demo account.
Any thoughts on this week's action? Any advice on tweaking the settings?
Thanks.
stockwetIgnored