Next target 111?
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DislikedWe have 2 choices now, either we take quick profit or wait forever until stoploss get triggered to immidiate resistance level Since my setup is towards long term trend, I will go for option 2 {image}Ignored
DislikedBk8, I like the strategy so far. Traders have to realize that chop will happen at times, not much you can do about it. How many or which currency crosses do you focus on? Do you have a certain money management strategy? I am trying to use a ratio approach where I trade 1% of my account equal to the number of pips to the entry and stoploss level. One more question, for entries, do you enter a trade when the candle opens after the previous candle that has crossed the SMA or do you place an order over or below the previous candle depending on the direction...Ignored
Disliked{quote} Hi Bk8. Which line is SMA? The blue line or the middle yellow line? So the signal is bar closed crossing blue line or crossing middle yellow line? Sorry for my dumb question. ThanxIgnored
Disliked{quote} I am still experimenting so I have small accounts only, $50- $300. I take risk upto 10% but 3-5% is more disciplined. You are right, I enter when new candle opens in direction of previous candles it has crossed SMA line.Ignored
Disliked{quote} Which pairs do you find work for this? I guessing most of the major crosses. I like the ideal of trading with small accounts. If you can make a profit on them, then a larger account should not be any different. I really do not like to trade demo accounts much because you emotions and decisions are different when you go live. I plan to backtest this strategy on ForexTester and play around with ADX or some other indicators I have used to help detect choppy periods.Ignored
DislikedI think I should focus on few pairs only NJ is so slow and boring {image}Ignored
Disliked{quote} Hi Bk8, Closing EJ today (3 candles) or wait it hit bollinger band? Mine is +118 pips now {image}Ignored