Hello everybody!
Im a trader from Pakistan.
I keep following forexfactory alot in fact i learned to trade from here. I have not been successful though but can't blame anybody for so because I never traded a system. I thought I m smart enough to trade without a solid system. As expected I've just blown my live account of 2200USD well that was a lot for me at least. At one point it was 4200.
I gave my background just to let you people know how brilliant a trader I m! Anyhow lets come to the point I want to share my humble opinion about the entries of London breakout system pardon me If you don't like. I wanted the entry to be at a distance of some percentage of Average Daily Movement of the pair. Lets assume we are entering at 50%of Average Daily Movement of last x days away from the box. So if Average Daily Movement of cable for last 10days is 126pips then we should enter at 63pips away from the box. I know it will decrease our gains for the day but I think it would give 30 to 50 pips most of the days. The percentage of Avg. movement for entries can be changed to what ever fits best to a system. I have not tested this method as yet but we need some calculation tools to help us do so. Just my humble thoughts. I would love if Sq can add this entry option to his indicator/EA. Sq your help as usual will be much appreciated. Thank you.
Eid Mubarik in advance to every body.
Im a trader from Pakistan.
I keep following forexfactory alot in fact i learned to trade from here. I have not been successful though but can't blame anybody for so because I never traded a system. I thought I m smart enough to trade without a solid system. As expected I've just blown my live account of 2200USD well that was a lot for me at least. At one point it was 4200.
I gave my background just to let you people know how brilliant a trader I m! Anyhow lets come to the point I want to share my humble opinion about the entries of London breakout system pardon me If you don't like. I wanted the entry to be at a distance of some percentage of Average Daily Movement of the pair. Lets assume we are entering at 50%of Average Daily Movement of last x days away from the box. So if Average Daily Movement of cable for last 10days is 126pips then we should enter at 63pips away from the box. I know it will decrease our gains for the day but I think it would give 30 to 50 pips most of the days. The percentage of Avg. movement for entries can be changed to what ever fits best to a system. I have not tested this method as yet but we need some calculation tools to help us do so. Just my humble thoughts. I would love if Sq can add this entry option to his indicator/EA. Sq your help as usual will be much appreciated. Thank you.
Eid Mubarik in advance to every body.