Disliked{quote} Be careful with GBPUSD, I know that this system can "sometimes" work on it, like on other pairs as well, I was also trading EURJPY in the beginning, but I finally forgot it, it was too volatile like GBPUSD is. I have chosen now to only trade EU, and looking at the results, there is no need to look elsewhere.Ignored
{quote} Maybe it's more clear with this... {image}
I am attaching a screen shot of the error. Now I have put the default settings 96-96-96-10-10.
Can you check with yours?
I also have another question regarding risk management.
Let's assume that my risk is $ 250.
The point is that if I open 1 lot with 25 pips against I will have burnt the $ 250 but with 0.50 lots no.
How do you base your inputs? How many pips against do you assume before closing?
I hope I have formulated the question correctly. My english is not the best.
- #384
- Edited 2:38am Apr 4, 2020 1:53am | Edited 2:38am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
{quote} Ok now I understand everything and I found an error in the SMA. I am attaching a screen shot of the error. Now I have put the default settings 96-96-96-10-10. Can you check with yours? {image} {image} {file} I also have another question regarding risk management. Let's assume that my risk is $ 250. The point is that if I open 1 lot with 25 pips against I will have burnt the $ 250 but with 0.50 lots no. How do you base your inputs? How many pips against do you assume before closing? I hope I have formulated the question correctly. My english...
On the risk question, I handle things quite simply, first, as you could see I don't use stop loss, why ? because my mental stops are quite far away, 100 pips is a good margin, that's what I use, and then I risk 10-15% of account for a full position at 100 pips loss.
Now dividing the trade by 3 is what helps you to stay calm on the first entry because as you divide the size by 3, you multiply your stop loss by 3 for the same risk, so you enter the trade and can go sleep without any worry because your trade has to go 300 pips against you to be a failure not counting that the signal will certainly tell you to exit well before that.
As an example consider the current trade...
Balance = ~ 10 K
Full position planed initially = 1.5 lots
Total risk at 100 pips loss = 1.5 * 10 * 100 = 1500
Total risk = 1500 / 10000 = 15% of balance
Entry 1: = 0.5 lots, total=0.5 lots, pips margin at full risk = 1500 / (0.5*10) = 300 pips
Entry 2: = 0.5 lots, total=1 lot, pips margin at full risk = 1500 / (1*10) = 150 pips
Entry 3: = 0.5 lots, total=1.5 lots, pips margin at full risk = 1500 / (1.5*10) = 100 pips
Now, you can have a look at where those stops are in the chart...
Simplicity is the Ultimate Sophistication.
- #386
- Apr 4, 2020 2:26am Apr 4, 2020 2:26am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
I've put together an "all in one" package/template including a new MTF MyStochRSI indicator version. SmaSRSI96 in main chart and the MyStochRSI indicator lines in subwindow are programmed in a way they only show when we are in a M5 or H1 chart (nothing is shown when we aren't)! The MTF indicator version shows you the H1 (pink) and M5 (blue) StochRSI lines when you are in a M5 chart - also the SmaSRSI96 representation in the main chart shows the H1 status when in the M5 chart. {image} {image} {file}
Simplicity is the Ultimate Sophistication.
- #388
- Apr 4, 2020 3:42am Apr 4, 2020 3:42am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
Hi, I watched this forum branch for a couple of months, the system is super. I noticed that The smasrsi96 indicator settings do not save the SMA line color and background settings, they are constantly reset to default, when changing the timeframe. And the indicator MyStochRSI, fly off the line type settings, and the color of the levels. And this bug goes from version to version. It is very inconvenient, because I have, say, a different vision of color design.
By the way, the indicator posted by Jagg has the same glitch.
By the way, the indicator posted by Jagg has the same glitch.
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- #398
- Edited Apr 5, 2020 1:33am Apr 4, 2020 1:00pm | Edited Apr 5, 2020 1:33am
{quote} Hi Jagg, Thanks for the indies. Would you mind sharing the mq4 files for the SMA and the StochRSI please.
{quote} i can not find these dots in the indicator I have install on my MT4 {image}
BUT these dots are only a representation in the main chart when StochRSI level from M5 reaching >95 / <5 OB/OS levels - nothing special.
Hi, I watched this forum branch for a couple of months, the system is super. I noticed that The smasrsi96 indicator settings do not save the SMA line color and background settings, they are constantly reset to default, when changing the timeframe. And the indicator MyStochRSI, fly off the line type settings, and the color of the levels. And this bug goes from version to version. It is very inconvenient, because I have, say, a different vision of color design.
@broketrader I i didn't want to disturb your thread here (when more questions regarding my used templates comes in) - so feel free to contact me if you don't want me to post it here.
- #399
- Apr 4, 2020 10:32pm Apr 4, 2020 10:32pm
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
- #400
- Apr 4, 2020 11:00pm Apr 4, 2020 11:00pm
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Hi, I watched this forum branch for a couple of months, the system is super. I noticed that The smasrsi96 indicator settings do not save the SMA line color and background settings, they are constantly reset to default, when changing the timeframe. And the indicator MyStochRSI, fly off the line type settings, and the color of the levels. And this bug goes from version to version. It is very inconvenient, because I have, say, a different vision of color design.
Simplicity is the Ultimate Sophistication.