EDIT:
Another quick question. I notice that you trade between 6am-9am EST on the 1 hour chart. Does that mean you get all these signals within 3 bars?
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DislikedHi fxhermit,
I see that you are still making use of the Golden Variety indicator (from your screenshot)? Do you still find it adds any value this strategy?
Cheers
CodexIgnored
DislikedI'm also confused by this. Do you mean just manually exit when you see an opposite signal? As in no SL?
EDIT:
Another quick question. I notice that you trade between 6am-9am EST on the 1 hour chart. Does that mean you get all these signals within 3 bars?Ignored
DislikedCan anyone quickly answer this? Looking to foward test this system next week. Anybody trading this live?Ignored
DislikedAre you setting your stop loss at the low of the entry candle? (for longs, obviously)Ignored
DislikedSee the chart in my last post - that's live. I'm currently evaluating this system by running it in comparison to my usual methodology (which corroborated this last trade) so I'm not trading it in a vacuum so to speak. I have a live micro account which I use as a "real demo", if you want to call it that, for forward testing concepts that interest me such as this one. As I do in my "real" accounts, I may take upto four positions on an entry and then scale out as per my Take Profit levels.
Would be nice to see any forward testing that you do...Ignored
DislikedHave you tried the system with default settings? Hourly, 6am-9am EST, 40 pip take profits?
Unfortunately I work 12 hour days so I'm basically looking for a simple system that will allow me to grab some pips in the London or early NY sessions.Ignored
DislikedThe two parallel dotted green lines running through your last posted chart just below price - what indicator(s) is that?Ignored
DislikedHaven't noticed but does the Golden Finger indicator appear on candle open or candle close?Ignored
DislikedIt's my super dupper secret indy and if I tell you I'll have to have James Bond pay you a visit .
No, it's just a 75 ema of the Lo & Hi (that's what I use but it's not overly critical - use whatever one you like). It's what I use in my other method and have "bolted" it onto this one. Why? Well classic use of moving averages. Here's how it works.
Moving averages are but fluid trend lines and serve the same purpose as linear sloping trend lines - to indicate direction and "breaks". In other words this 75 ema channel is my directional...Ignored
DislikedHello Fxhelmit! Tell me please, what time frame and what pairs are the best for this system? I used 15 min. and this time frame gives signals much earlier than 1h. What do you think? Please, explaine me your ruls for entry with this system? As I understan under blue Pivot level you buy only and you start to buy after 1h.candle start to cross support level or close above it? Thank youIgnored