Note that I don't claim that this system is unprofitable. The curves only show what results simple rules that I specified in my posts [I might even have misunderstood something] give. With discretion this system could very well be profitable.
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Dislikedtony......
do you need to wait for another opposite candle after you tp on second candle or just use second candle as first candle on next set up? hope i explain that ok....
thanksIgnored
DislikedRazor you have to understand simple doesn't necessarily mean long term profitable. Sure its simple and its very large hearted of Tony to post it and yes I assume he's been profitable with it thats why he's posting it but for how long has he been trading it? To even consider trading a system its very important to back test to see how its done in the past more importantly the immediate past. How do you know its not a lucky streak?
I agree that far too many people want answers before they are prepared to look for them but unfortunately none of the...Ignored
DislikedNote that I don't claim that this system is unprofitable. The curves only show what results simple rules that I specified in my posts [I might even have misunderstood something] give. With discretion this system could very well be profitable.Ignored
Dislikedif you want 99% win ratio, go with 10pip tp.
if you want 80% win ratio, go with 20pip tp.
anyways tp at close of second candle sometimes very rewarding, usually at start of London and new York sessions and news hours.Ignored
DislikedHi, The stoploss is just for protection purposes, in event the market suddenly turns a 100 pip against you, you could exit off with a limited loss.
Ideally you should exit if the price moves 5-10 pips against you and accept the tiny loss instead of a big one. There are many more opportunities that will arrive again, so you can try again.
The old saying, cut off the losers and let run the winners.
Remember its a 2 candle strategy and not a 3-4-6-8 candle strategy, but if you feel it could trend more, its best to break even the trade...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
DislikedRazor you have to understand simple doesn't necessarily mean long term profitable. Sure its simple and its very large hearted of Tony to post it and yes I assume he's been profitable with it thats why he's posting it but for how long has he been trading it? To even consider trading a system its very important to back test to see how its done in the past more importantly the immediate past. How do you know its not a lucky streak?
I agree that far too many people want answers before they are prepared to look for them but unfortunately none of the...Ignored
DislikedNote that I don't claim that this system is unprofitable. The curves only show what results simple rules that I specified in my posts [I might even have misunderstood something] give. With discretion this system could very well be profitable.Ignored
DislikedHas the price alert on the above chart been posted? If not is it available? Thanks PaulIgnored
DislikedNote that I don't claim that this system is unprofitable. The curves only show what results simple rules that I specified in my posts [I might even have misunderstood something] give. With discretion this system could very well be profitable.Ignored
DislikedThanks Tony for the great thread. Its a break out to take small pips profit or small pips loss. To my understanding you use...Ignored