Sorry about my previous post if it sounded bitter....
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Would you trade this system? New system #2. 10 replies
DislikedI'm trying to understand your trading, but not quite there...
(1) If all the SL and TP are random, why not the same number? ie TP=20 SL=18 for all 40 trades.
(2) If sell/buy is random, why not all the same? either sell or buy?
(3) Where do you get the winning rate of 60%?
(4) Why risk is 1%? arbitrary?
(5) Could you explain more about your fib-trading?
Thank you!Ignored
DislikedVery Interesting :nerd:
.........................................I will be looking to see how this goes...Ignored
DislikedMemorandum
Buy Level: 1.2980.6
Sell Level: 1.3118.7
Likely to hit 1.3041.6, void if it gets above 1.3090.8Ignored
Dislikedthis is exactly how i trade Chicky.......except i do it the hard way, build a sophisticated strategy first and pretend the buys and sells arent randomIgnored
DislikedI have a slight discripancy in my calculation and trade.
Calculation indicates 1.3041.6 (provided 1.3090.8 remains valid), but my tp is 6 or so pips away from 1.3041.6. Won't change my trade, .........this is not an exact science anyway.Ignored
Disliked............
I have no level atm. Calculating levels...................Ignored
DislikedHit SL.
I have no level atm. Calculating levels.
B/E after 6 trades.Ignored
DislikedRalome, the first part says 6 winners out of 10 trades and 11 winners out of 20. That is, winners more than losers.
40 trades are not two blocks of 20 trades. This may look strange at first, but it has a logic. Let me explain.
If a trader can generate 60% winners (60:40 win:loss ratio), this also needs defining the total population, without such definition, this statement is incomplete. For example few traders may be expert enough to consistently generate 6 winners out of every 10 trades. That will be win:loss ratio of 60:40. In this case,...Ignored
DislikedYour approach to the market with this "system" is very similar to what I have been doing on my website for 1 year now. It's basically playing probabilities where support/resistance gives you the long term edge. You've even selected 1% risk and 1:1 risk to reward ratio which is same as I have, ha ha. Doesn't get much simpler than that. The only difference I see is that I don't have the TP and SL predefined. My targets are sometimes beyond 50 pips but no more than 100 pips. It will be interesting to see if your targets (which are all within 51 pips)...Ignored