this is why i say we should be looking at some sort of breakout buffer. I know it works both ways. if you use buffer then there would be days when you would miss the tp by 1 pip. but just my 2 cents
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Dislikedthis is why i say we should be looking at some sort of breakout buffer. I know it works both ways. if you use buffer then there would be days when you would miss the tp by 1 pip. but just my 2 centsIgnored
DislikedYep, or days when, if the buffer is 10-pips, the breakout is by 11 for a "bad" entry anyway. In the end, it all evens out. In breakout systems like this, there will always be entries that just barely "broke out" and reversed... We can analyze them all day, but there's no magic bullet to stop them.
Another lesson I've learned in several years of forward-testing systems before going live with them, is to not tweak them to death. Puts you in an endless cycle of optimization, and you never end up with the "perfect" system in the end (and never...Ignored
DislikedThanks Cgrey for your effort. Very interesting and simple system, I will have a try manually tomorrow.
I notice you didn't add any buffer even on your long order, don't you think that at least 3 or 4 pips spreads needed to add on the orders?
Thanks.
WonderfulIgnored
DislikedNews killed us today.
Entry (short) at 136.96
Lots: 0.18
Stop hit (both halves closed) at 138.01
Summary:
Breakout of the low of the 00:00GMT candle occurred at 01:45GMT. Initial stop was set at 100-pips. Over the next few hours, price moved in our direction, and came close to hitting our first target (came within about 4-5 pips). Reversed after that, and with some news announcements, shot up against us and hit the 100-pip SL for a loss.
We'll see what next week brings...
Account Status
Starting Balance: $929.46
[color=red][b]Today's...Ignored
DislikedMoral of the story - STAY AWAY FROM MAJOR NEWS EVENTS!!! lol
If i were trading this live, def stay away from major news such as today, as im sure you would too. i always close my ea's on big news days. much rather not make any money as to loose a ton!!!Ignored
Dislikednice job of keeping up with this journal. im having ea made for this as we speak. a few changes will let you know changes and results
good trades to you!Ignored