OK.............one more time on the ATR and the S/L. If the ATR(10) value on the daily chart is 65 (current value on eur/usd) then my initial S/L is 65 plus my broker spread. Then I move S/L as the price moves in my direction. In the fozzy EA, the S/L is automatically set at .7 ATR because the programmers wanted a value of 70% ATR, strictly discretionary.
I don't use fractal indicators.
PS.............my personal favorite is surfing in Australia, fozzy's home.
I don't use fractal indicators.
PS.............my personal favorite is surfing in Australia, fozzy's home.
Quoting 4rexDislikedBB,
Wonderful results! The next best thing would be if you are getting these results as you hang out at some beach preferably in Thailand(my personal choice).
Could you be so kind as to explain in more detail how you determine your S/L using ATR(10). I placed one in a chart and I can see the values that you speak of but how do you determine the price for your S/L. I'll read the help section in Meta as well. Oh, by the way, have you noticed that the fractal indicator coincides the high/low values in the ATR? Is this correct or am I seeing ghosts?
ThanksIgnored