Two Reversal Bar Entry System

Cable data in 4 minutes. If it is very good data they could start dumping dollars and bring EURUSD higher.

Cable data was very good and there's a doji sitting 2 pips above my stop....

Well that was it. Stopped out..
+45.7 pips between the 2 positions.
Now we wait for another signal..

divergence in macd on the 15 min.
would expect to see a signal short maybe after US data?

Thinking this is where we go...
Will wait for signal of course...

Unfortunately I won't be able to follow the trade.
Car has to go into the brake shop... No wi fi there.
Want to take this strategy to micro account next week.

Forget the car brakes..
They can wait till tomorrow.

Am waiting for a signal...

so far so good.
10 minutes till 4hr candle closes and it is going bearish.

5 minutes till candle closes and it's hovering doji slightly bearish.

After all it is Friday after a humongous move yesterday.
Maybe we flatline today...

signal short
stop just above previous 4h candle high
1st tp 20pips

more US data due out

5 mins to consumer sentiment US..

glad this is still in demo stages...
not looking too good...
Not sure I would have actually taken this trade were it a live account..

stopped out...
That's it for today, for this week....
It's a good strategy, have to see how to do it nicely...
There's a lot to be said for just plain old common sense.
Without that no strategy can work..

Looks like the stop was a little too close. few pips. looking at fib, there was a 61 retrace... so many traders use fibs it is a good idea to check and see how stops and targets relate to the fibs.
But really no trades should have been taken after London.
Friday is a tough day.

Common sense.
Really necessary.
Managing the trade really makes the difference for gains.
I'm thinking that for 2 positions opened they will do better with fixed targets.
the first target is 20, 2nd is 50.
In order to catch a really big move 3 positions would work. stops for all 3 placed under the low of the previous 4hour candle (or common sense if there is a strong area of support) the first target 20 pips, if the 20 pips is reached and first closes then stop for second and third placed at breakeven with target for 2nd at 50 pips, and the 3rd with no target, stop at break even to be moved to under clearly defined swing lows as they form on the 15 min.

For now I want to focus on managing 2 open positions. 20pips and 50pips. When I get that down so I can do it blindfolded, I can add management for a 3rd position.

Running the simulator in forward simulated trading the results are good. But the real test is in the live market and using common sense. 1 day close to 70 pips. (Actually more like 120 pips since the simulator doesn't open 2 trades, I just marked for my own reference where the trades would have been).

-400 and thats a real account,good lord jiva,why dont u take mini lots 1k

i lost 30 this week on gold,

Are you crazy?
Never mind...

Not a real account... not yet.
Not until I get this where I want it...

I have a feeling it won't be long...
All the pieces are coming together.

Then it'll be micro.

Sorry about the gold...

(I've locked in $800 in equities this month).

why doesnt it say demo account on that thing then

i dont think u can forecast where the price is gonna go with indis ,but if u want a ea builder,u can get a free one on vantage fx,when u open an account of 500 and over

???????????

As ever, beaver is a storehouse of resources...

more simulated trading
this is what we can look for with this system.
These entries are GOOD...
Then we manage the trade for maximum gain...
Based on 3 positions opened at the signal..
stops below low of previous 4 hour candle
1st out at 20 pips
2nd two stops moved to just above break even
2nd position target 50
3rd no target stop remains at just above break even waiting to be movbed up under a clearly defined swing low.
2nd target 50 pips reached so we would be up 70 pips total at this point with a free trade in play.
3rd position closed when macd crossed down.
+ about 112 pips for 3rd position
total for the day about 180 pips..