DislikedI haven't posted much, but I have been trading a variation of this strategy successfully. Like I mentioned before, I made some changes on the MM side of things, but mostly its still the same. I've also been using an EA as it works as a good tool to back test looking for the best settings. Below is the results trading on a small live account after forward testing first on demo. I have also shared an FTMO link to a free trial I passed again this week only trading with this strategy. This strategy works and I thank forex1x8 for sharing it....Ignored
I also do not post much because I have been trying to find a way to make winning trades with this counter. I am not always in a position to be at my computer at the relevant times and the 16.30(9.30 NY) trade is very difficult without an EA to help handle the speed of placing trades necessary usually.
I have therefor been looking into the trades based on the highs and lows of the 4H candles, specifically those that finish at 13.00 which covers the London open, and the one that finishes at 17.00 which covers the NY open and also the next one finishing at 21.00 which includes more of NY.
I set buy and sell stops 22pips above and below the highs and lows (today first trades set are buy 34408 and sell 34285), stops are 100 no TP, I set trailing stop at 85 pips. I try not to interfere with the trades but if I get a good run early and quickly like when there is news or at the NY open then I may close manually with +100 pips profit. So far this is working out quite nicely because I am away from my computer soon after setting the first trade, the TS seems to be better than setting a TP, but more experience will tell in the long run how good it will be. If the first trade has triggered and not been closed when the next 4H candle has closed I just add the next trades. It is also quite possible to make profit from both buy and sell trades depending on the volatility that day.
I would also be glad to hear about your(MDFX) settings for your trades, ie at what times are your trading what are your parameters for entry TP and SL. I prefer to test forward on my real account with small risk.