Disliked{quote} Hi I am working on me/me .i have some questions could you please look at this: 1.Best time frame h4 or daily for enter?( I tried last two weeks for daily setup but just two setup and open now not in profit) 2.best idea for tp or exit?(very import ) 3.best time for exit when in negative pips 4.how many basket of pairs for weekly and monthly 5. Max dd? 6.i read some of your previous post and you tell about new me/me system then you working on ,could you please tell about that 7.i read some of your previous post and you want to start new topic...Ignored
Hi,
Many questions, most have been asked before and answered over the last 4 years. Nevertheless, I will be brief answering each one to help recap.
1) Both H4 and D1 charts are good to trade with ME/ME. You need to know the market conditions well and know when to trade 4H swing and when top trade D1 Position trading. You need to know the H4 and D1 market volatility and the trading range.
4H swing trading you open and close trades in the same trading week and with only one exception. H4 has the tendency to have swings withing the same week, you see swing high, swing low. therefore bascially you are buying the swing lows and selling the swing high. That was the way Big E traded the H4 reversals every week by picking the entry with HA candle #1 and #2.
D1 Position trade you can open trades and keep them open over many days and into several weeks.
2) Use the 52-weeks ATR range for TP. Most cases 40% to 60% of the ATR-52 is good. If strong trend and volatile market, 100% is possible. In breakout, 120% of ATR 52 weeks.
3) The is no best time for exit when negative pips. It depends on what you see on your charts and how you plan your trades. One exit condition is when your trade get invalidated by an opposite trade setup. Another example is 4H swing, I would close my trades on Fridays when London session closing time no matter the profit/loss, with only one exception. There are other exit strategies I posted before, Just search 'Exit Strategy' or 'Exit Strategies".
4) How many baskets? depends on your account size and your business plan. I trade 19 pairs in 5 groups, and I pick only one pair from each of the 5 groups. At any one time I can have opens trades in 5 different pairs using different trading accounts and different brokers.
5) Maximum DD - depends on your money management risk. I can handle anything up to 10% DD because above that, recovery becomes very difficult.
6) There is no ME/ME system. It is still the same ME/ME developed since 2013 and only recently a few trades are focus trading the D1 charts only with a few own individual adaptions.
7) No new topic as I would like to see more active participation in this thread. I planned a new thread and the content is near 60% complete after I made few changes in the recent weeks . No date for actual release decision. I am working on other projects like Monty Hall is kind of fun right now.
Trade Well.
Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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