Today
first sl taken
Trade sell stop at 1.0610
1.0625
SL taken
Both trades fail today.
Done for today.
first sl taken
Trade sell stop at 1.0610
1.0625
SL taken
Both trades fail today.
Done for today.
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DislikedHi all, I understand the philo behind this method is to Profit from liquidity before it gets into the market. It sounds good. But experience teachs us that everything works and everything Fails. To me the method sounds plausible. Besides, Zen is sharing freely. I have just one big doubt. Martingaling the first trade just once it is ok in Terms of risk. The blindpoint I see is how to manage several days in a row with the method failing, and it will for sure. Martingaling the next days to compensate one day is in essence a Martingale. Martingale works...Ignored
DislikedAllthings Nice post. I get the sentiment and experience. I'm not sure Martingale Squared is the way to go either. I think Zen is saying that you only do this once in the day. So, as exampled today if you lost 1% on trade 1 and then lost 3% trade 2 you are down something like 3.4% overall for the day. Next day is a clean slate. You trade your 1% again. From my manual backtesting I can see that more often than not, the second trade (3%) gets you out of trouble. Days like today have been rare from the past 6 months of manual backtesting that I conducted....Ignored
Disliked{quote} Thats why i suggest only trade martiangle for the day and the next day start from 1 lot again.Ignored
DislikedAllthings Nice post. I get the sentiment and experience. I'm not sure Martingale Squared is the way to go either. I think Zen is saying that you only do this once in the day. So, as exampled today if you lost 1% on trade 1 and then lost 3% trade 2 you are down something like 3.4% overall for the day. Next day is a clean slate. You trade your 1% again. From my manual backtesting I can see that more often than not, the second trade (3%) gets you out of trouble. Days like today have been rare from the past 6 months of manual backtesting that I conducted....Ignored
Disliked{quote} Hi Grimweasel, great work! Ill follow your recommendation, in study mode, to the 30min candle. Just to know where to look at "1430-1500GMT candle" is the one usually US data is wired or is it the one when US stock markets open? Thanks Theres an old saying that states" four eyes see more than two"Ignored
DislikedUS Open - Same method but using the US opening first half hour. 30 min candle. Mark high/low. Orders at the next .00 levels above/below (OCO orders best). Open - 121.50 SL - 121.65 TP - 121.40 Hit TP. 2 successful trades today. Cheers Zen. Nice and simple. {image}Ignored
Disliked{quote} Sorry my fault. Then, it is ok. As you say, just accept losses and carry on having a life I fully agree with the rest of your post. I am having Trouble finding the exact candle of your method, but once I find it a will start dissecting the outcome Distribution so I could find some clues on how to apply MM. (These days I am not working hard as my father got cancer and he is in the last stage of the illness ) As a General idea to work with I am considering to define a sample period, lets say a trading month, and increase trade...Ignored
DislikedFirst buy stop SL touched, open second trade, TP. Ended the day with green pips. {image}Ignored
DislikedWorked as planned this morning; Entry at 1.0720 Stop at 1.0735 TP at 1.0710 I have been using the 0600-0700 GMT candle and seems to work fine. The key is the liquidity and volumes around the UK/US opens. Ref the stops, I think your %s are wrong Zen. If I have a 5k account and I risk 1% then that equates to 50. Divide this by the SL (15) gives you pip size of 3.33. So if you lose then loss = 50. A win would mean a gain of 33.3. If you lose 1% then the next trade you have equity of 4950. Divide this new sum by 3% and you have 148.5 to trade @ 3% meaning...Ignored
DislikedUS Open - Same method but using the US opening first half hour. 30 min candle. Mark high/low. Orders at the next .00 levels above/below (OCO orders best). Open - 121.50 SL - 121.65 TP - 121.40 Hit TP. 2 successful trades today. Cheers Zen. Nice and simple. {image}Ignored