I don’t know anything about programming so I don’t know if what I am asking is possible. Also I have been trading for only 6 months so what I’m asking may be redundant as there may be better methods or strategies to manage a trade.
If so maybe this thread may help others like me come to know how others manage there trades and trade exits and give some hope of getting the best out of the trades we enter.
It seems that Vegas, has done a lot of us a favor by giving us systems that can get us into excellent trades. But this is obviously only a part of the story for us to make money. I was disconcerted on a couple of trades that I was stopped out on that went at least another 100 pips or so. It has led me to wonder what the best stop level or other strategy there may be to stay in a trade without losing too many hard earned pips on a permanent reversal. Or would I make more statistically by missing some longer trades but keeping a tighter stop and getting out before losing too many pips?
It would be great if there was someone on the forum who could write an EA that could allow a back test of different trailing stop strategies based upon the VWB Daily and Vegas 4Hr trades. Being able to set your own trailing level in the EA such as 30, 40, 50 pips etc, or an exit based upon the turn of the 8sma through price so that we can optimize the best exit on different currency pairs through back testing the EA.
Also if it were possible it would be great to know once stopped out at these different levels and the trade continued how many more pips would have been made.
Using the 4hr trade entry method I manually went back 2 months on the GBPUSD and tried a trailing 30, 40, 50 pip trailing stops and also 2 pips behind the previous bar. I don’t want to post the entire results as it was onerous doing it manually and I’m sure that there are mistakes. Though looking at the overall, in February the 30 pip trailing stop led the way. In March the 2 pips behind the previous bar led the way. When combined the 30 pip trailing stop had the best results. The 40 and 50 pip trailing stops both compared poorly in comparison.
If so maybe this thread may help others like me come to know how others manage there trades and trade exits and give some hope of getting the best out of the trades we enter.
It seems that Vegas, has done a lot of us a favor by giving us systems that can get us into excellent trades. But this is obviously only a part of the story for us to make money. I was disconcerted on a couple of trades that I was stopped out on that went at least another 100 pips or so. It has led me to wonder what the best stop level or other strategy there may be to stay in a trade without losing too many hard earned pips on a permanent reversal. Or would I make more statistically by missing some longer trades but keeping a tighter stop and getting out before losing too many pips?
It would be great if there was someone on the forum who could write an EA that could allow a back test of different trailing stop strategies based upon the VWB Daily and Vegas 4Hr trades. Being able to set your own trailing level in the EA such as 30, 40, 50 pips etc, or an exit based upon the turn of the 8sma through price so that we can optimize the best exit on different currency pairs through back testing the EA.
Also if it were possible it would be great to know once stopped out at these different levels and the trade continued how many more pips would have been made.
Using the 4hr trade entry method I manually went back 2 months on the GBPUSD and tried a trailing 30, 40, 50 pip trailing stops and also 2 pips behind the previous bar. I don’t want to post the entire results as it was onerous doing it manually and I’m sure that there are mistakes. Though looking at the overall, in February the 30 pip trailing stop led the way. In March the 2 pips behind the previous bar led the way. When combined the 30 pip trailing stop had the best results. The 40 and 50 pip trailing stops both compared poorly in comparison.
