Disliked{quote} How do you consider that as engulfing? that candle's high doesn't even engulf the previous bar's high. no?Ignored
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Disliked{quote} How do you consider that as engulfing? that candle's high doesn't even engulf the previous bar's high. no?Ignored
Disliked{quote} oh ok. I remember you were saying you don't mind the wicks and shadows right. so 2nd bar's body must fully engulf the 1st bar in order to be called legit engulfing bar.Ignored
DislikedOk, Just for some reference. Before I thought the wicks and shadows played important role as I don't have experience with engulfing bars before. But please bare some of your time and look at the chart below. Are these can be called legit EBs? the numbers on top represent bearish eb and below are bullish eb. Thanks {image}Ignored
Disliked{quote} ok so the evening stars pattern's last candle should engulf the first bar. #2 was engulfed just little bit?Ignored
DislikedHello, I am new to Forex. For couple of weeks I have been extensively backtesting the Engulfing Bars at daily timeframe in the direction of the current major trend (I do not use it as reversal rather as continuation). I keep my reward:risk ratio to be 3:1. I often get 20 correct & 10 incorrect. So 20 correct * 3 = 60 profitable trades and 10 lossing trades. So by these numbers my NET PROFITABLE trades get to around 80-85% profitbale trades. I get 100 NET profitable trades per month on backtesting after winning trades*3 & deducting all losing trades....Ignored
Disliked{quote} Hey Aariz, I wouldn't trust back testing all that much. Its impossible to avoid "after the fact" bias. I would strongly urge you to forward test the method on demo and see how it goes and whether you're getting your 100 trades a month. It would be interesting to see how you would cope with side ways and choppy market conditions. g.Ignored
Disliked{quote} Sure dear, I am going to forward test is from tommorow. The way I backtest is that I open a chart and keep the page up button pressed & go back to as back as possible. Than step by step I keep on pressing the F12 button. By doing so I am unaware of the upcoming events on the charts, as I progress through the chart I keep on putting wins and losses in a notepad. When I have gone through some 4-5 years of data day by day I calculate the percent won & average trade per month. But honestly yaar on daily time frame huge patience is required as...Ignored
Disliked{quote}You have 5 years of trading experience. You are in better position to add more filters to it and make it even better.Ignored
QuoteDislikedIts gonna be a bit hard to take after 10 years when you realise you could have been trading profitably the whole time with a system you had since you were a noob