I've been glued to my charts with the new indicator like everybody else, plotting and figuring 'til I can't see straight. So many variables to contend with, but I'm enjoying every minute of it. What a wonderful tool at our disposal.
Thank you FXHard and Xux99 very much for all your hard work.
And here's what I've settled on as my trading plan going forward. I am all tweaked out and optimized to the hilt!
5 minute chart. EU only, TP 20, SL 20, 600 pips/100 days. Just 4 consecutive losing trades in a row so drawdown is manageable. The rest of my parameters are seen on the chart.
Because I didn't deduct the 1.6 spread on EU above, I roughly took it into consideration to arrive at the following returns:
Risking 5%/trade=25% return/month
Risking 3%/trade=15% return/month
I suppose by daytrading standards these returns are conservative, but I think they're pretty incredible for such a simple, mechanical system.
Now this is 24-hour trading which would require the EA. But maybe manually trading London/New York only and skipping slower periods might give an even better return. This is something I haven't checked yet.
I hope this helps out somebody, or maybe gives someone a starting point for further tweaking.
Okay, here's the chart:
Thank you FXHard and Xux99 very much for all your hard work.
And here's what I've settled on as my trading plan going forward. I am all tweaked out and optimized to the hilt!
5 minute chart. EU only, TP 20, SL 20, 600 pips/100 days. Just 4 consecutive losing trades in a row so drawdown is manageable. The rest of my parameters are seen on the chart.
Because I didn't deduct the 1.6 spread on EU above, I roughly took it into consideration to arrive at the following returns:
Risking 5%/trade=25% return/month
Risking 3%/trade=15% return/month
I suppose by daytrading standards these returns are conservative, but I think they're pretty incredible for such a simple, mechanical system.
Now this is 24-hour trading which would require the EA. But maybe manually trading London/New York only and skipping slower periods might give an even better return. This is something I haven't checked yet.
I hope this helps out somebody, or maybe gives someone a starting point for further tweaking.
Okay, here's the chart:
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