DislikedHi guys, thought i would share my vision.
A.w.o.l started a discussion ( Post #3300 ) about entering after the first break-out. Like FH stated, you must have full confidence in your enter and exit strategy. That being said, i often enter only on the second our third attempt of (big-enough-to-hit-tp) break-out.
The difference is that I don't really wait for this to happen ... The advantage of the indicator is that you can monitor and optimize rather easely a lot of pairs
I optimize until I have a 100% succes on the fourth attempt. ( Or...Ignored
I do not have the option to enter on a lost trade recovery attempt and be profitable.
I am not satisfied until i get the following results for the past 100 days in a 5 to 30 m TF.
1st. 70 % or above 2nd. 60 % and above or
1st. 60 % or above 2nd 80 % or
1st 80 % or above 2nd 60 % or above
The only exception to this is the EUDJPY image I posted on Friday 90% first 0 second and third and 100th 4th. Note that is a freak tweak that will stop working as abruptly as it started, if you get any trades with it before July 6th, back testing with the strategy tester or the indi days back the settings for it are not right.
LarryK who has been a great inspiration to me posted his beautiful hand drawn chart (post 3335) and it looks as he gets better results than above indie back numbers.