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DislikedHello mclosson. Good stuff. Really like how clean the charts look (even the choice of colors). So much so that I've pretty much copied them. Anyway, I believe this method in principle is profitable over long term, so my questions are not second guessing it, but rather about fine tuning it. So here goes...
1) at what point do you look to move stop loss?
2) How do you handle news days?
3) why not other major pairs?
In my third question I say "major" pairs because I presume the spread is too high on non-majors to consider (at least on daily...Ignored
DislikedHi,
Thanks for sharing this method.
The only thing i don't understand is how do you calculate your risk / reward ratio?
The way i see it, your risking 5% each trade and your sl is at the other side of the day which is quite huge. But your TP is only at .382 fib?
If i am not mistaken, your profit is something like 1.5-2% per trade but one loss will wipe out 5% of your account?
Please correct me if i am wrong with this approach as i merely scanned through your posts.
Thanks!Ignored