DislikedHi Philip,
thanks for another great mp3. I have a question about one setup at the PDF. One bar after signal number one we got a TC to the downside. Doesn't this fit to the rules also? The price went down under the 21EMA again, retraced back to it and gave the signal. For me a good chance that the previous downtrend may continoue. How do you see it? Thanks.
Regards
JansonIgnored
there is a lot of discretion in this system, sometime the TC are taken, sometime are ignored depending on discretion, so as long as there is discretion we can't say this is a system, the descrition usually is an inner feeling not to go against the daily and weekly trend of the EUR which have been up for almost 2 years now but people try to put some reasons like trandlines which by themselves are discretionary and other staff like round numbers to give reasons for their discretion which as I said is mainly an inner feeling, once the new EUR downward trend starts you will see a lot of these discretions fail
another thing is that all these trades in the thread are in hindsight, nothing in realtime although we are trading a 4H system, I mean isn't it easy to post one line here just 5 minutes after u take a trade saying "buy EURO TP nnn ST mmm" and we will fugure u bought euro at the open of the current bar and these are the target profits/stop loss, forget about chat rooms just if someone takes a trade post this one line of 10 characters and later we can put the chart of that trade and why it was taken and how it evolved, but instead you will see many many hindsight charts here, hindsight works even with a simple moving average cross system