Have anybody EA on this great strategy to share?
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DislikedYes, this is definitely a week where your discipline will be tested. However, ranging weeks are always followed by weeks of expansion! Hang on for the ride!Ignored
DislikedFirst off thanks Tkimble for a great system
I just wanted further clarification:
The following is just for example:
last week GBPUSD close ( 1.9736 )
Buy order at 1.9786
with a stop loss of 1.9756
Sell order at 1.9686
with a stop loss of 1.9716
Ok so if our buy order is hit, then Tkimbles rules state that the sell order must be moved up to the previous weeks close ( 1.9736 in this case )
Now lets say buy order gets stopped out at 1.9756 as I understand it one must place another buy order at the same original price ( 1.9786 ). Now lets say our sell order was hit ( This would be 1.9736 since we had moved it up because our previous buy order was hit ). Since our sell order was at 1.9736 according to Tkimble's rules the buy order would move down to the previous weeks close which would be 1.9736. Incidently, we would put a 30 pip stop on the sell order which would be in this case 1.9766. Now if the stop loss of 1.9766 was hit then would we sell again at 1.9736 ( which was the original sell price, despite the fact that you already have a buy order at 1.9736 )
Kind of confused, any clarification would be greatly appreciated
Thanx
SIMPLEIgnored