Daily Trading Strategy [ADR + RSI = High Probability]

Quoting LDFX

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{quote} Well this strategy has certainly not a hit rate of 40%, I will let you do the backtesting (on paper), my experience shared being called negative and trolling. How can you be able to have even a 1:2 risk:reward ratio when only getting in once a 20/30% negative excursion has occurred once the ADR has been reached ? You probably have been lucky because of the high volatility caused by low volume during the summer and the corona risk on/off shift occurring daily. Do the work M8 and you will realize that I was only telling the truth all along,...

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Quoting LDFX

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{quote} I already shared the way to increase tremendously the r:r ratio in many previous posts..., as well as better entries confirmation. Thus by taking a 5/15 minutes candlestick pattern instead of macd/rsi and by a time entry (London close on pullback)

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Quoting Ah-Ong

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{quote} The youtuber said, close when NY end (whether it trigger or not). By this way the RRR may increased.

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Quoting LDFX

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{quote} Hello Broncoviz, thanks for your message. Like I said previously I won’t post anything new unless I am quoted because my posts where not tolerated being called negative. What is definitely wrong about the strategy shared is the 2 things ; 1) the negative (counter trend) excursion before to enter because of waiting on macd, it is like waiting the river in poker to unfold before to bet, nobody is gonna bet against you and your reward will be very small, the key is to anticipate. 2) 1:1 r:r ratio is totally absurd. In the London close strategy,...

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Quoting sixbuttons

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Just taking a look at this thread for the first time today, thanks to everyone who posted indicators and information If I'm right, a short opportunity is forming on GBPCAD - it's passed 100% ADR and we were seeing RSI OB in the run up. Now we just wait for the MACD LWMA to move past its previous cross, right?

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Quoting sixbuttons

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Just taking a look at this thread for the first time today, thanks to everyone who posted indicators and information If I'm right, a short opportunity is forming on GBPCAD - it's passed 100% ADR and we were seeing RSI OB in the run up. Now we just wait for the MACD LWMA to move past its previous cross, right?

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Quoting sixbuttons

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Just taking a look at this thread for the first time today, thanks to everyone who posted indicators and information If I'm right, a short opportunity is forming on GBPCAD - it's passed 100% ADR and we were seeing RSI OB in the run up. Now we just wait for the MACD LWMA to move past its previous cross, right?

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Quoting sixbuttons

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Observing the MACD slowing and possibly crossing back up shortly. If I was in profit (which I currently am) I might use that as a signal to move to break even, but as this is quite close to moving into negative territory does anyone use a cross back up to cut losses short?

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Quoting meck1

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GBPCAD TP hit Before {image} After {image}

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Quoting sixbuttons

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{quote} The 1:1 target seems like the smart play, especially with your past 20 days stats Meck. I guess I would like to see some sort of emergency stop for those wobblers and potential reverses. At this point though I'm happy it went 1:1 and that I have the right idea around entries

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Quoting christos1967

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ok People, let me tell you something, please. The idea of the EA is great I had the same idea a few years back. There are 2 problems. The first is that you need to understand when a pair is in an uptrend and in that case you need to look for higher timeframe than 5M to make more pips and not shorting this pair. The second problem is when you get caught on a highly trending pair like the cross pair GBPAUD etc. So finally the MM is what makes an EA winning or losing. This EA and the idea the EA is based is great but I think it needs some adjustment...

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