Disliked0 people online a few months ago ussually and now, i came back and i see 8 people online. it's great success for me !
I promised to update #1. some connect issues. I will make it this weekend. happy trading guys.
ps. for impatient people : just click on my profile and search for "m5 or m15 chart"
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Congrats, it's really a great thread
By the way, 2 questions for you if I may...
1) do you draw your div lines on the chart between the close points of the bars (line chart), or from the low|high of the bars?
2) what is your CT trades average win rate and R:R?
3) What is your exit strategy you are using for CT trades? Have you tested different strategies and got to a certain conclusion?
I have spent about 5-6 hours so far back testing these CT setups and trying different exit strategies in different market conditions. I think that over time it will pay off taking profit around the middle BB, or minor PPZ. However, if I see a PA setup on an higher TF|very strong PPZ combined with a big round number|strong trend - I will try to get my stop to BE ASAP and then just let it run as far as it gets (my trade above was an entry of the daily pin bar, using your method in purpose to catch a smaller pip stop, and it worked well. It smacked the 20R at it max, and I'm still in trailing my stops).
My guess will be that trailing stop mode will work best when we are in a real sharp trend, and we get a pullback to a strong PPZ or big round number - with a CT setup.
IMO entering is the easy part, especially with a simple method like this, and even more especially when the bar move so fast (5min bars), so we can easily pick only A++ trades with minor patience (after trading dailies and 4H charts I know what discipline and patience means, lol).
Anyways, my point is - next level is cutting your loses and letting your winners to run. I'll be glad if you can please share your experience|back testing|opinion on this
Thanks,
Ben