small question
I noticed when all the conditions are met and are waiting for the cutting of the stochastic The price is no longer close to the BAND Strip, but rather towards the middle strip, and therefore the risk ratio is very low.
Do you have an idea of how to enter without waiting for the stochastic to cross
TNKS
small question I noticed when all the conditions are met and are waiting for the cutting of the stochastic The price is no longer close to the BAND Strip, but rather towards the middle strip, and therefore the risk ratio is very low. Do you have an idea of how to enter without waiting for the stochastic to cross TNKS
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This question was touched upon earlier and it is a good and valid one. Yes, we have to find balance between been aggressive and getting a high win ratio. If you wait for the stochastic to properly cross, we have dramatically increase our chances of winning. So I will suggest you should always wait. The good thing is that, the strategy can be used on any currency pair and any timeframe, so you can not be short of trades with very good risk/reward ratio. Patience is the name of the game and as you know that the Forex market is brutal.
thank you for the answer.. Maybe go down one graph and wait for cutting moving averages?
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That could be a good one, you could probably try that and see if it makes a difference. It will be a good idea if you do it over some period of time and some numbers of trades in order to know how effective it is. That's how personal systems are developed and it could become your own strategy. Go for it.
Am I missing something? Some of the bars in your examples are "green"....but you mention only yellow and red bars....i'm assuming that they actually Yellow....?
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I think this question remains unanswered (went through all the posts in the thread)
{quote} I think this question remains unanswered (went through all the posts in the thread) Thank you.
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Thanks for pointing that out. The intention was to have just two colors, yellow and red. You will notice that in the BBWidth indicator properties, you have color 0=Yellow, color 1=Yellow. One of those used to be green color in the screenshot posted earlier, but both should be yellow.
Hello to all just training for this strategy. what can be done in following cases in order not to hit SL. thanks, {image} {image}
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Great looking chart Meko.
SPT_GLD chart: produced a winner as the price reached the middle Bollinger band. So if you bought 1 lot at the cross of the Stochastic line, you have two types of exit strategy available.
1. You can take all of your profit at the middle Bollinger Line (close your position at the middle Bollinger line)
2. You can also close half of your position (0.5 lot) at the middle Bollinger and leave the other half to run. You will need to move the SL of the remaining half to break even.
Therefore in both of these exit strategy scenarios, you will have come out with profit.
USOIL_SPT chart: The price did not reach the middle Bollinger line after entering the SELL position. , in this scenario, you will let the SL do its job. I can see few signals on this chart which yielded profit.
I trade a variation of this and it produces a very high win rate, however you need to be very patient and use discretion to pick your trades. Quite often i'm only after 1R on most trades. A lot of people can learn a lot from trading this style as it keeps trading simple and helps you to develop patience in this game.
@makemo8 I really like the simplicity of this strategy. However I use cTrader rather than MT4/5 would you be prepared to share the comparison formula you use for the band width indicator so I can create a corresponding one for cTrader. I already have created several indicators for cTrader and share them freely under the banner of cTKit at ctkit.uk. If you agree I would share the new indicator in the same way.
I trade a variation of this and it produces a very high win rate, however you need to be very patient and use discretion to pick your trades. Quite often i'm only after 1R on most trades. A lot of people can learn a lot from trading this style as it keeps trading simple and helps you to develop patience in this game.
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Please tell us more about your variation of this, your win rate and also how you use discretion to this.
