I checked out a pair at random USDCHF and used the indi's posted to pick out entries.
I followed Colostarr's rules except for the trailing stops and spread allowance, it's difficult when manually testing, pity we don't have an EA for back testing.
Anyway here are the results:
Period - start of 2010 to Feb 14th 2011
44 Entry points
2 separate orders entered per entry point.
TP1 - 1st order targets 0.75 ATR pip value profit
TP2 - 2nd order targets 1.5 ATR pip value profit
37 trades hit TP1 (84% success rate)
33 trades hit TP2 (75% success rate)
If we used £0.50 value / pip on each order, it would have given:
Gross profit = £1812
Gross loss = £ -538
Max loss = £80
Max consecutive losses = 1
I followed Colostarr's rules except for the trailing stops and spread allowance, it's difficult when manually testing, pity we don't have an EA for back testing.
Anyway here are the results:
Period - start of 2010 to Feb 14th 2011
44 Entry points
2 separate orders entered per entry point.
TP1 - 1st order targets 0.75 ATR pip value profit
TP2 - 2nd order targets 1.5 ATR pip value profit
37 trades hit TP1 (84% success rate)
33 trades hit TP2 (75% success rate)
If we used £0.50 value / pip on each order, it would have given:
Gross profit = £1812
Gross loss = £ -538
Max loss = £80
Max consecutive losses = 1