Looks like I would have made a ton more if I held out, but with big news coming it was totally irresponsible to not take down 5% on a method that I tried for 1st time. I will re-enter later today
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DislikedWhat do you think use:
- EURCHF with 15 pips of GAP
- EURJPY with 25
- GBPJPY with 40
- USDJPY with 20
Have you ever tested with this pairs ? Do you think it will work ???
In my opinion, pairs with JPY it won't work.Ignored
DislikedJust a thought. Since the main pair is the EUR/USD, have you considered placing the orders right before 7:00 am GMT? My reasoning is as follows: On most occasions during the Asian session, the European pairs seem to oscillate. This gives more of a chance for orders to be triggered in both directions. I figure once the European and British volatility arrives, there's a better chance of having orders triggered in one direction. This is only a theory... just interested if you have given it any thought.
BobIgnored
Basically my system, tries to get the best of these three systems with some important points in mind:
The system, though extremely simple, works very well. Returns on Investment (ROI) go anywhere from 10% to 30% depending on the market conditions. But we always want more, am I right?? well here's more:
Advance Techniques
From the above techniques, my favorite and in my opinion the most profitable one is the first one, you can also use that one a daily basis by not closing your winners but letting them ride till the trend or wave is over. They are very simple techniques, I am sure a lot of you already thought of them yourselves but that's the idea behind all this concept, to keep things simple and to dance with the market wherever it wants to take us.
Your input is very valuable, so please post your opinions or flaws you may see.
Will post later.
Thanks!
DislikedHey Ronyn, I'm glad you reached your target but remember that there will be days in which long and short positions get triggered and you will need of days like this to even out a loss and be profitable at the end of the month. So it is important to follow rules, they are there for a reason.
Hi, that is a very good point. The reason for doing this is that i was not sure how/when to close the positions. I was reading the rules of the system but i could not find that part. Do you normally just set the orders and then check them again in the morning for status and then put a trailing stop on the trades that are in profit and remove the negatives?
CheersIgnored
DislikedHello lilydat, I place my orders around that time because I am on a EST schedule and don't particularly enjoy getting up in the middle of the night to do so. However, if you can do so, I would not recommend setting your orders at 7:00 am GMT, that's when Frankfurt opens and the market tends to retrace at this time before London opening at 8:00 am GMT so you would actually run the same risk of getting both orders triggered. So if you are awake at that time, set your orders at 7:55am GMT and you should have a better chance of getting only one side triggered.
Thanks for your comment!!Ignored
DislikedWhat do you think using TS (trailing Stop) on the trades?
- Like that on EURUSD
- 120 pips
- 100 pips
- 80 pips
- 60 pips
- 40 pips
Ignored
DislikedI would be curious if we can look to see if this system has any trends based on the day of the week. Any idea?Ignored