DislikedTell me, is your TP/SL same for all pairs you trade? 100 and 300 (for 4 digit broker)?Ignored
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
EA tool & strategy for semi-automatic interactive trading 82 replies
semi-automatic fibs in MT4? 0 replies
Testing a semi-automatic EA with a strategy tester 1 reply
Geoff's Manual and Semi Automatic Trading Setup 988 replies
Trading a (semi) automatic approach...but want more 11 replies
DislikedTell me, is your TP/SL same for all pairs you trade? 100 and 300 (for 4 digit broker)?Ignored
DislikedI do not use a fixed tp/sl. I usually use 1.5 Atr to set my stops and targets. The rational behind the 1.5 is that in my opinion on a healthy trend price will pull back but would not close below the previous day low. So I believe that if price pulls back and hits my stops which is 1.5 ATR then the trend is weakening.Ignored
DislikedThanks for that, I hardly know anything about ATR and have been googling on this subject. Am i right by saying that ATR for GBP/USD pair (one I'm currently trading) is sitting on (using 14 period) on the D1 TF: 152*1.5=228 TP/SL?
If I'm right with this calculation do you have to use the previous days candle value to use for TP and SL for all future orders (all the way down your retracement) and is TP and SL same??
Or is this comPLETELY wrong, if so, please help me with this?Ignored
DislikedThis indicator gives the daily range.
I input the 1.5 ATR value into the EA. Then using my risk mgt allowance I set the lot size. I sometimes just use 1x ATR depending on the strength of the trend and my perception of market sentimentIgnored
DislikedYou know okehiedon, you are a HERO, it seems like this driving idea WORKS!
So..to all those who are keeping tabs on this thread I think we need to add okehiedon on the celebrity list for THIS specific EA:
Samurai:For thinking up such a brilliant idea for this EA
Pips: for programming AND improving it continuously AND
Okehiedon: For a very good idea on how to actually DRIVE this baby
So well done and thank you!
I'm sure all readers here agree these three deserve a round of applause "clap, clap, clap".
Ok, now that's out the way, Oke, I like...Ignored
DislikedJust three things:
1)Thanks for indi, from what I understand it's same thing as the default ATR , I MUCH prefer getting digital reading of ATR value than mousing over some wave at bottom, just can't understand why they have TWO periods for ATR instead of one? I'm also using (14) period because I believe its most popular amongst traders? just disregard the SECOND ATR.
The RmUp/down is just confusing though, according to the net when it's green it's "trade" when it's red it's "no trade"? I suppose this works in conjunction with TWO readings...Ignored
DislikedI usually use 3 orders for each pair. What that means is that I divide the ATR by 3 to get the pip step for each pair. Only the ADR value is relevant for this system.Ignored