No greed. No fear. Just maths.
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,486 Posts | Online Now
MT4/MT5 EAs/Indicators/Alerts coder
Very Profitable System - Roi system 350 replies
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Disliked{quote} We defined no rule to re-enter nor whether to re-enter or not. The B/O on E/N is still valid to me. Looking at the daily chart 1.6800 is an interesting level. H4 seems to be preparing a bullish engulfer above 1.6800. The SL would be around 90 pips. What do you think?Ignored
DislikedOne of the many good things I think your approach has is the risking a small fraction of your account at the beginning and adding as it goes in your favour. .......we all see things differently and that's a good thing, but for me the adding to a winning position makes for good common sense. I especially like the 50% of profits being used for a risk free addons. Nice!Ignored
Disliked{quote} I agree silverpuma. The preciseness of placing the add-ons using MM is very appealing to me and is a nice change to standard more haphazard pyramiding that often compromises a nice long profit run. Spidey and PipMeUp's thought processes here have made me hone my own approach and I really appreciate it :-)Ignored
DislikedSpyderman, thank you for this thoughtful, considered and risk controlling approach. I have a similar daily system that quite closely follows your approach but using the supertrend instead of your DC. Like you to I'm in the mid-stages of tidying up some of the unseen decisions I need to add as the system evolves. But this is your thread so I'll stop now. It is helpful to me to hear you guys think out loud and I am learning new insights and find these insights can stimulate other ideas i can consider. So I am very thankful for all your detailed process....Ignored
Disliked{quote} Copernicus I read the full thread a few days ago so am I right in thinking you mentioned something about have a swing approach within the overall major trend you are riding. Especially at the end (though i appreciate only hindsight can see that) when perhaps the position size is significant so that there is some simple way to not let a large % leg/swing of the unrealized profits slip away.Ignored
DislikedHey guys, I've edited the trading rules in Post #1 in line with our discussions. See if I missed anything or if I need to change the wording to make more clear. Some of it's a bit tangled without staring at a chart.Ignored
Disliked{quote} Looks good but the ultimate arbiter needs to be PipMeUp. :-)Ignored
DislikedI'm trying something in demo with E/CAD. To explain it you shall have a look on E/J weekly first. As you can see, E/J W1 closed below the DC in January and again in March. It didn't broke the top of the DC yet. Therefore the down biais is still there. But the price retraced 1350+ pips since it broke the channel. I'd like to find a way to catch this "minor retracement". And more importantly avoid to enter short again and again by following the rules when it is abviously wrong. I'd like to not add any indi. The idea I had is to draw a horizontal line...Ignored
Disliked{quote} Keep us posted. My concern would be that the movement within the bounds of the Weekly DC would be a "ranging" environment and could move back and forth indefinitely. Taking the weekly breakout (or sticking with it until the daily break) would be a trade with momentum on our side. Will be interesting to see what you discover.Ignored
DislikedMy concern would be that the movement within the bounds of the Weekly DC would be a "ranging" environment and could move back and forth indefinitely.Ignored
Disliked{quote} I agree ... In this kind of long term strategy, we must first be pretty sure price went outside the weekly range ...Ignored
Disliked{quote} I hear you Ferru. But look at the chart. According to the rules it is a down trend. Do you really want to keep entering short positions in this market? {image}Ignored