tradewith60
Difference between buy/sell stops & buy/sell limits 34 replies
how to change buy to sell, sell to buy for EA 1 reply
the buy/buy or sell/sell currency broker?? 5 replies
I am looking for EA to put Buy Stops, Buy limits, Sell limits, and Sell Stops. I will 0 replies
DislikedJust want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing,
It's really important that all your trades are risking the same %age of your account, so regardless wether the stop is 80 pips or 20 pips you should be risking 1 or 2% of your account (or whatever figure you're comfortable with).
But you must be consistent!
I guess this is pretty obvious and basic stuff, but imho it is important..
So I have had 4 trades, 3 wins and 1 loss.
My wins were +4%, +4% and...Ignored
Disliked60minuteman
I agreed with proper RR and MM.
About the %, I am not sure.
For $1000, 2%=$20.0
$980.00, 2%=$19.6
$960.40, 2%=$19.2
One can never cover back to $1000 if he profits at 3rd trade, for R:R 1:2, he gets back to USD998.80
if you use same amount for each trade USD20, then one will return to $1000 at the 3rd trade profit.
English is not my main. I think you get the picture.
Just my opinion. Happy Trading.
p.s. I like your simple and easy trading method. Please keep posting.Ignored
DislikedOk, I see your point, I guess it depends in what order your wins and losses come in... im not great with figures though.
What im trying to get across though is the importance of not taking trades where your risk increases massively because of the size of your stop, each trade should have relatively equal risk.... for financial as well as psychological reasons.Ignored
DislikedJust want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing,
It's really important that all your trades are risking the same %age of your account, so regardless wether the stop is 80 pips or 20 pips you should be risking 1 or 2% of your account (or whatever figure you're comfortable with).
But you must be consistent!
I guess this is pretty obvious and basic stuff, but imho it is important..
So I have had 4 trades, 3 wins and 1 loss.
My wins were +4%, +4% and...Ignored
Disliked60minuteman
I agreed with proper RR and MM.
About the %, I am not sure.
For $1000, 2%=$20.0
$980.00, 2%=$19.6
$960.40, 2%=$19.2
One can never cover back to $1000 if he profits at 3rd trade, for R:R 1:2, he gets back to USD998.80
if you use same amount for each trade USD20, then one will return to $1000 at the 3rd trade profit.
English is not my main. I think you get the picture.
Just my opinion. Happy Trading.
p.s. I like your simple and easy trading method. Please keep posting.Ignored
Disliked, i find courious that the method (the way i backtested it, with the indi, and maybe is not the correct one) works better, pip-wise and cash-wise, with a low period MA instead a 50MA..
But i must backtest further, results on only two pairs means nothing, in the end.Ignored
Disliked60MM, great results this week...your charts are bit unclear...what 12 pairs do you currently monitor each day?Ignored
Disliked60minuteman, congrats for the great results. As I said earlier, I find this system very attractive, mostly because of it`s simplicity.
I`ve already started backtesting on 4h TF EU and GU as we talked with SteMag and I think I may go back until January 2011 for a full picture on those couples.
So far I`ve been testing two exit strategies - the close level of the very same 4h candle, on which we took our position and 1:1 SL:TP condition.Ignored
DislikedOn the chart in your first post, you say "4. Enter if the very next candle trades below the signal candle". Sorry if this has been asked already, but are you waiting for a close below the signal candle, or do you enter as soon as the candle trades below the signal candle? Maybe consider updating the first post to make it more clear. I've found that when you make things as idiot proof as possible, it significantly decreases the number of questions asking for clarification. I learned that in the service while creating lesson plans for new...Ignored
DislikedHi Rob, you don't need to wait for a close, as soon as you trade 1 pip below the low or high of the signal candle you enter... either manually or with a pending order.Ignored