This is not a good day for this strategy. Oh well.
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DislikedYep. Basically if we just use the higher low/lower low rule and nothing else. There is a 53% chanche that the day will close in our favour. I havent said anything about the daily volatility and such just that IT WILL CLOSE IN OUR FAVOUR. Also I have made calculations regarding the "missed pips".
So if we keep on AVERAGE the SL at 59 pips then we are ok. The AVERAGE profit with this system is 70 pips on a successfull day. That means that 47% of the time we loose 59 pips and 53% of the time we make 70 pips. Do the math and we get an evrage system. If we add the volatility factor that is that the GU can "fly" 200 pips in our direction just to fall back 130 pips then there is the rationale behind my take profit strategy.
So the setup could be as follows
If low is higher than previously buy. SL 59 from open. TP 60,120,180 and 240 pips from open. Unit 5 leave until the end of day.
Short the reverse.Ignored
Dislikedhey, if the above stats of 47% loss of 59 pips and 53% win of 70 pips still stands, it's not bad at all.......
it'll produce over 900 pips but is that in a month ?
or has the latest stats changed a lot ?Ignored
Dislikedi wonder if the SL is kept below or above the daily bar might keep one in a profitable trade longer ? especially, with the up/down of Dow Jones having such a great influence nowadays..........of course, the risk is still 1 or 2 percent.Ignored
DislikedBullrock, we look for lower highs and higher lows to determine direction, what to do when we get an outside bar say in a downtrend which may have a higher high,lower low and higher close which would be considered bullish?Ignored
DislikedI have run extensive analysis on the GBP/USD pair.
Result between 01/2007 and 10/2007 using the 15 min metatrader data resulted in approx 2000 pips if open is 8am in the morning and close is 8pm.
That is all. Hope this helps.
The analysis has been done using a C++ analytical code written by myself. This is raw system. Can be improved largely I believe.Ignored
DislikedHi gnllr
Ok. So.
Yesterday's low must be greater than the previous day's low. We do not care about the high (for long) AND yesterday's CLOSE must be greater than the OPEN.Ignored