Disliked{quote} Exactly! Now you know what I was talking about. Ya, it doesn't mean we can't use stop mode. Just that we need to find the right formula for STOP. Because last time I used it, I was just following from the initial idea of this STOP order grid: http://www.forexfactory.com/showthread.php?t=515891. FYI, that is the initial idea of STOP orders, which was ran 24H a day. It was good, but then you face a big drawdown if the market is ranging. The big the range is, the more you'll get stuck, and finally will wipe out your account. now...Ignored
I believe the right trigger for Stop mode is Fibo.
In conculsion, i have two styles:
1 Grid Scrapper follows the trend:
Trend trading triggered by fibo lvl with small tp and Two ways Exit.
Each lvl we trade 2 times,cause things will not repeat 3 times.
Don't try to take a long shot, small profit is safer and quicker.
One day one trade
2 News Trading with optional TP (depending on the impact)
Small news(ingore)
Meduim news(TP <1 lvl pivot)
Big news or many Meduim news(1-2 lvl pivot)
Devastating News or many big news ( 2-3 pivot lvl)
Attached Image
yesterday ex. 1-2 lvl pivot
I do feel this is the turning point in my trading career, there are two people I have to remember.
Rad- the grid master
Attached Image
VVfish- the news trading master
Attached Image
No one wants to be defeated~