Simple Monday-Tuesday System (attached calculator) | Page 66 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simple Monthly System (see attached calculator) 48 replies

Excel simple risk calculator needed 10 replies

what if every free system is attached to a trading explorer? 28 replies

If it's such a great system, why isn't there a Trade Explorer attached? 261 replies

Simple Fx Calculator 1 reply

Attachments: Simple Monday-Tuesday System (attached calculator)
Exit Attachments

Simple Monday-Tuesday System (attached calculator)

  • #1,301
  • Mar 15, 2020 6:31pm Mar 15, 2020 6:31pm
Quoting here2there
{quote} Sorry, but this makes no sense. If it comes back hard at you and hits your BE, then you walk away with nothing! At least if you take 50% off the table and it comes back hard at you, you could potentially walk away with something. The way I see it is you are sitting on the fence if you use BE without taking something off the table. But hey, what do I know.
I'm talking about taking 1/2 profits at TP1. This makes no sense to me unless tp2 is far enough away to make it worth while. The way you put it in your response that price comes back hard at you.....that won't happen with what I was saying because i'm talking about at TP1. If price hit's tp1 than I would have closed 100% of trade. I don't mind moving the SL to BE+1 or 2 or something half way to tp1 but once price hits my tp1.....im closing 100% of my trade.....unless of course tp2 is my main target in the first place.
  • #1,302
  • Mar 15, 2020 6:40pm Mar 15, 2020 6:40pm
Quoting bojack34
{quote} I'm talking about taking 1/2 profits at TP1. This makes no sense to me unless tp2 is far enough away to make it worth while. The way you put it in your response that price comes back hard at you.....that won't happen with what I was saying because i'm talking about at TP1. If price hit's tp1 than I would have closed 100% of trade. I don't mind moving the SL to BE+1 or 2 or something half way to tp1 but once price hits my tp1.....im closing 100% of my trade.....unless of course tp2 is my main target in the first place.
If that is what you intend to do, then that's fine with me. You trade the way you want to trade. Personally, I would rather let my trades run for as long as I can, and even add to my position if it makes sense to do so. If I am trading in the right direction, and the price action is giving me no reason to get out, then I am staying in until Friday.
Learn from your mistakes and march on.
  • #1,303
  • Mar 15, 2020 6:44pm Mar 15, 2020 6:44pm
Quoting here2there
{quote} If that is what you intend to do, then that's fine with me. You trade the way you want to trade. Personally, I would rather let my trades run for as long as I can, and even add to my position if it makes sense to do so. If I am trading in the right direction, and the price action is giving me no reason to get out, then I am staying in until Friday.
That is why I said it would be ok to add an additional trade at tp1 but to make your original trade bigger just so you can take 1/2 lot size at tp1 just doesn't make sense to me. If you spend time in your strategy to come up with a good Entry and TP/SL why not honor them. Put in your biggest position at the beginning and if you hit your main TP1 and you feel good about getting in on the right direction, at that point, then you can add an additional trade at a smaller position and "let run for as long as you can", I have no issue with that.
  • #1,304
  • Mar 15, 2020 6:47pm Mar 15, 2020 6:47pm
Quoting here2there
{quote} Actually, from what I have seen, you have been rude and verbally abusive towards multiple people in here. Your attitude is bad for this thread and bad for this website. It's people like you who are a problem here!
I have never seen anything rude or abusive in any of Erebus' posts. He just writes the truth, which many people can't handle, in any aspect of life. So many posters want to complicate what is a very simple and effective system, more indicators, what about an EA?, etc.. To be honest, Erebus' posts are the only ones I look for.
All you touch and all you see, is all your life will ever be.
  • #1,305
  • Mar 15, 2020 6:57pm Mar 15, 2020 6:57pm
Quoting bojack34
{quote} That is why I said it would be ok to add an additional trade at tp1 but to make your original trade bigger just so you can take 1/2 lot size at tp1 just doesn't make sense to me. If you spend time in your strategy to come up with a good Entry and TP/SL why not honor them. Put in your biggest position at the beginning and if you hit your main TP1 and you feel good about getting in on the right direction, at that point, then you can add an additional trade at a smaller position and "let run for as long as you can", I have no issue with that....
Please keep in mind certain market conditions call for certain responses. I have a lot of experience trading. Because of that, I have different money management strategies, and those strategies work very well when applied at the right time.

I often don't use a stop loss. And when I do, I use a wide stop loss. Sometimes I use a BE strategy with a 50% take profit rule. And there are times when I might even use a negative BE which turns into a positive BE at some point. It all depends on the market conditions. As a trader, I have to adapt.

I'm not trying to step on your toes here, but I kind felt like you were being condescending towards the 50% profit taking strategy. That's why I responded to you.
Learn from your mistakes and march on.
  • #1,306
  • Mar 15, 2020 7:01pm Mar 15, 2020 7:01pm
Quoting Loftboy
{quote} I have never seen anything rude or abusive in any of Erebus' posts....
Just because you don't see something, it doesn't mean it isn't there.
Learn from your mistakes and march on.
  • #1,307
  • Mar 15, 2020 7:24pm Mar 15, 2020 7:24pm
Quoting here2there
{quote} Actually, from what I have seen, you have been rude and verbally abusive towards multiple people in here. You need to change your attitude.
does this count as verbal abuse?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-16 at 10.21.11 am.png Size: 1.6 MB


What’s even funnier, I’m about to leave to the hospital for a hearing test

It takes a lot for me to IGNORE you, but you can try.
  • #1,308
  • Mar 15, 2020 7:30pm Mar 15, 2020 7:30pm
stop you both,it is just the begining of the week,so much going on and so much to look forward to and you both are spreading negative energy.Can someone take charge of this thread?
  • #1,309
  • Mar 15, 2020 7:38pm Mar 15, 2020 7:38pm
Quoting T4Trade
stop you both,it is just the begining of the week,so much going on and so much to look forward to and you both are spreading negative energy.Can someone take charge of this thread?
He has been rude towards a number of people in here. Someone needs to speak up. It has gone too far.
Learn from your mistakes and march on.
  • #1,310
  • Mar 15, 2020 10:00pm Mar 15, 2020 10:00pm
Quoting here2there
{quote} Just because you don't see something, it doesn't mean it isn't there.
Just because you think you see something doesn't mean it is there either.
All you touch and all you see, is all your life will ever be.
  • #1,311
  • Mar 15, 2020 10:04pm Mar 15, 2020 10:04pm
Quoting Loftboy
{quote} Just because you think you see something doesn't mean it is there either.
So you don't think it's rude to tell someone to drink a cup of cement? You don't think it's rude for someone to condescendingly call another man princess?
Learn from your mistakes and march on.
  • #1,312
  • Mar 15, 2020 10:09pm Mar 15, 2020 10:09pm
Now more than ever I think we all need to be kind to one another. Lets come together as traders and focus on the charts and making money.
  • #1,313
  • Mar 15, 2020 10:11pm Mar 15, 2020 10:11pm
Quoting Verto
Now more than ever I think we all need to be kind to one another. Lets come together as traders and focus on the charts and making money.
Unfortunately, some people don't know the difference between good behavior and bad behavior.
Learn from your mistakes and march on.
  • #1,314
  • Mar 15, 2020 11:48pm Mar 15, 2020 11:48pm
Can we just trade please? Been here since beginning with demo. Last week went live with small $100 account. Wanted to do $200 but moved that to another account I'm testing. 20% gain including the big spikes last week. And before anyone asks how read post 1. I use swingman indicator cause I like it and 10% past hi/low. That's it.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200316_063902_net.metaquotes.metatrader4.jpg Size: 441 KB
  • #1,315
  • Mar 16, 2020 12:31am Mar 16, 2020 12:31am
Quoting here2there
{quote} Unfortunately, some people don't know the difference between good behavior and bad behavior.
Give it a rest.
All you touch and all you see, is all your life will ever be.
  • #1,317
  • Mar 16, 2020 2:29am Mar 16, 2020 2:29am
Quoting Spikehunter
{quote} I think if you want to make it more profitable then a more calculated entry and point is required. Although taking partial profits is one method for locking in some profit IMO all you are doing is limiting profit unless there is a rationale behind it.
If you make a partial closing of 50% of your goal, you have not limited the profit you will gain the same thing as if you reach your goal, the difference is that you will not lose if the price comes back.
  • #1,318
  • Mar 16, 2020 3:08am Mar 16, 2020 3:08am
Quoting here2there
{quote} Yes, you would have to use an even lot size for this. It's a good strategy when using the Average Daily Range as your first take Profit target. But I think it would be better to move the stop loss to at least 2 or 5 pips in profit to cover the spread.
This is a breakeven EA that I like.
Use LockinPips, discounting the spread.
Attached File(s)
File Type: mq4 breakeven_v2.01.mq4   13 KB | 284 downloads
  • #1,319
  • Mar 16, 2020 3:38am Mar 16, 2020 3:38am
Quoting SwingMan
{quote} Mark Fisher, "The Logical Trader", page 152.
Yes, Thank you. I think we have been here before??
  • #1,320
  • Mar 16, 2020 3:38am Mar 16, 2020 3:38am
Quoting bojack34
So I just did a "visual" back test on this strategy using GBPUSD from March 1st 2019 to Current (52 weeks). Here is what I was using as my criteria. Opening trades at 15% with a 50%SL. Once a trade reaches 50% of the 1:1 target I move the SL to BE. I leave all trades open until either the TP or SL is hit or then end of the trading day on Friday. I don't open any trades on Friday. I only open trades on Wed and Thur. That's pretty much it. Here are my results..... 1:1 was reached 18 times 2:1 was reached 6 times...
Here's an update to some stats I got from doing a visual backtest using Swingman's indicator for the last 52 weeks. Obviously these aren't exact but I feel they are reasonably close.



GBPUSD: (10% +/-)

1:1 was reached 18 times
2:1 was reached 6 times
SL was hit 8 times at 50% of the range
SL was hit 3 times at 100% of the range
No Trade 10 times
Break Even 6 times
Small Loss at close on Friday 4 times
Small Win at close on Friday 6 times


EURUSD: (11% +/-)

1:1 was reached 22 times
2:1 was reached 10 times
SL was hit 11 times at 50% of the range
SL was hit 1 time at 100% of the range
No Trade 9 times
Break Even 6 times
Small Loss at close on Friday 0 times
Small Win at close on Friday 6 times


USDJPY: (6% +/-)

1:1 was reached 18 times
2:1 was reached 4 times
SL was hit 12 times at 50% of the range
SL was hit 5 times at 100% of the range
No Trade 10 times
Break Even 5 times
Small Loss at close on Friday 3 times
Small Win at close on Friday 5 times


UDSCAD: (7% +/-)

1:1 was reached 16 times
2:1 was reached 9 times
SL was hit 9 times at 50% of the range
SL was hit 4 times at 100% of the range
No Trade 16 times
Break Even 8 times
Small Loss at close on Friday 1 times
Small Win at close on Friday 2 times


AUDUSD: (8% +/-)

1:1 was reached 17 times
2:1 was reached 6 times
SL was hit 9 times at 50% of the range
SL was hit 3 times at 100% of the range
No Trade 17 times
Break Even 4 times
Small Loss at close on Friday 3 times
Small Win at close on Friday 4 times


NZDUSD: (9% +/-)

1:1 was reached 22 times
2:1 was reached 7 times
SL was hit 13 times at 50% of the range
SL was hit 7 times at 100% of the range
No Trade 11 times
Break Even 2 times
Small Loss at close on Friday 1 times
Small Win at close on Friday 3 times


GBPJPY: (6% +/-)

1:1 was reached 18 times
2:1 was reached 4 times
SL was hit 12 times at 50% of the range
SL was hit 2 times at 100% of the range
No Trade 12 times
Break Even 0 times
Small Loss at close on Friday 3 times
Small Win at close on Friday 7 times


.........Still 5 more pairs to go
3 traders viewing now