I am trying to learn some price action using the timeframe from 00:00-00:00, I need an ea for pivot lines for the preveouse time periods to back test. If anyone can make that will help alot.
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MBO = Monday Break Out 8 utc gmt - 7 utc gmt 22 replies
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Dislikedhi thanks for your help, I like it, it really makes sence now when I applyed it on my chart, so looks like I should have avoide the last nights' loss by your approach.Ignored
DislikedNow I have the EMA 90 filtering most of the bad trades thanks to Jason , I will not going to use 7 pips buffer anymore, I will just use 1 pip from now on, I did a back test and works very well. The reason that I used the 7 pips is just incase if the price hits the line with few pips and goes against you, that is not needed anymore, just wanted to share my thoughts.Ignored
Dislikedyeah, the most importance rule in trading is to have
loss + win = positive [end of each month]
where lost cannot be zero. If lost = zero something is wrong and u have to change something to the system to make it not have zero lost.
IMO , zero lost means it work perfectly in that market condition and if anything changes [which will sooner or later] , it will have the opposite result.
What i love about the idea of trading GMT break out is the ease of back testing with no indicator. Many system uses indicator and price action and pivot line and...Ignored