{quote} reverse back to the old two set files with 0.02 lots & i guess every thing ll be fine again.slow & steady always win the race
Simple Daily Trend Reversal Trading System
- #3,866
- Apr 13, 2018 4:32am Apr 13, 2018 4:32am
{quote} Thx for Information - but the most important Thing is the Money Management. The indi Parameters are the same as always .... OK. So could you plz attach the full setfile to have a look at it ?
set file? sorry I have no idea what you are talking about... I don't use an EA . I trade manually. It works for me
))
- #3,867
- Edited 6:50am Apr 13, 2018 5:46am | Edited 6:50am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
Still behind in reading all the posts, but in my view this system can only be traded successfully by cherry picking entries among all those proposed by the dashboard and then actively managing trades.
By cherry picking entries, I mean try to take only the best setups (hopefully). To accomplish this, one can use its own analysis toolbox made up of PA knowledge and look at currency strengths measured on D1 & H4 time frames at the time of entry and make use of anything else that increase the probability of a positive outcome.
Then, with actively managing trades, I mean that due to the quite numerous amount of signals given every day by the dashboard, everyone should look carefully at trade evolution and the decide discretionary if let it run until its end or if close it prematurely due to no longer existing conditions that determined the entry, e.g. if one trade after one day is floating around -10/+10 pips in a flat market and looking at the chart things can go sour, it's better to intervene manually and close the position.
Personally I set initial exit levels as TP = SL = 2 * ATR(30) calculated on a H4 period. Trailing addition can be evaluated too.
I'm doing this since a few days only, so it's to early to say anything.
Another very important point as remarked also by other fellow traders is to manage risk in a way that preserves capital by using low risk per trade and being happy with 0.X% daily profit that eventually will compound balance to large amounts. Slow but steady is the way.
So in the end I think the ebeckers' EA is very powerful tool to do the dirty work of scanning all the pairs at light speed, but to choose right entries/position sizes/exits is a much more complex matter that could be done far better by a experienced trader-
Best regards,
Bubincka
By cherry picking entries, I mean try to take only the best setups (hopefully). To accomplish this, one can use its own analysis toolbox made up of PA knowledge and look at currency strengths measured on D1 & H4 time frames at the time of entry and make use of anything else that increase the probability of a positive outcome.
Then, with actively managing trades, I mean that due to the quite numerous amount of signals given every day by the dashboard, everyone should look carefully at trade evolution and the decide discretionary if let it run until its end or if close it prematurely due to no longer existing conditions that determined the entry, e.g. if one trade after one day is floating around -10/+10 pips in a flat market and looking at the chart things can go sour, it's better to intervene manually and close the position.
Personally I set initial exit levels as TP = SL = 2 * ATR(30) calculated on a H4 period. Trailing addition can be evaluated too.
I'm doing this since a few days only, so it's to early to say anything.
Another very important point as remarked also by other fellow traders is to manage risk in a way that preserves capital by using low risk per trade and being happy with 0.X% daily profit that eventually will compound balance to large amounts. Slow but steady is the way.
So in the end I think the ebeckers' EA is very powerful tool to do the dirty work of scanning all the pairs at light speed, but to choose right entries/position sizes/exits is a much more complex matter that could be done far better by a experienced trader-
Best regards,
Bubincka
Porta itineris dicitur longissima esse
- #3,868
- Apr 13, 2018 6:06am Apr 13, 2018 6:06am
- Joined May 2017 | Status: Trader | 3,883 Posts
{quote} reverse back to the old two set files with 0.02 lots & i guess every thing ll be fine again.
If a pair is going parabolic, and in a strong trend this strategy will fail is it is based on trend reversals, and in the last few weeks we've had some strong trending pairs giving false reversals causing losses.
Where we can minimize these losses is by using good money management so when it happens again as it has happened before, we can mitigate the losses to a minimum. I've tightened the SL so hopefully this will help with future results.
I have no doubt that things will turn around, and we will be back up again in profit as pairs cannot trend parabolic forever, and the market has to breath and cycle, so things will improve soon.
Truth is like poetry. And most people f*cking hate poetry.
- #3,869
- Apr 13, 2018 6:23am Apr 13, 2018 6:23am
{quote} reverse back to the old two set files with 0.02 lots & i guess every thing ll be fine again.
I'm running the old set with 0.02 lots and the two versions and I can assure you: It wouldn't have saved you this week.
- #3,872
- Apr 13, 2018 9:22am Apr 13, 2018 9:22am
- Joined May 2017 | Status: Trader | 3,883 Posts
Truth is like poetry. And most people f*cking hate poetry.
- #3,875
- Apr 13, 2018 11:24am Apr 13, 2018 11:24am
- Joined May 2017 | Status: Trader | 1,564 Posts
I can calculate the movement of stars, but not the madness of men. Isaac N.
- #3,880
- Apr 13, 2018 2:21pm Apr 13, 2018 2:21pm
- Joined May 2017 | Status: Trader | 1,564 Posts
I can calculate the movement of stars, but not the madness of men. Isaac N.