hammer olarion 1975 
as far as I hope to get
as far as I hope to get
- #1,322
- Edited 9:02am Aug 17, 2020 7:45am | Edited 9:02am
EN (on lower tf)
Had to be away from my charts so closed manually, as I wanted to monitor this market. Set and forget would have reached TP @ 3R. Never underestimate the power of a strong trend.
Well, better a small win than a loss.
My backtesting has shown that 3R is achievable almost every day from lower TF on strongly trending pairs. Of course the potential for losses by tighter stops is also higher. It's a matter of personal preference.
Had to be away from my charts so closed manually, as I wanted to monitor this market. Set and forget would have reached TP @ 3R. Never underestimate the power of a strong trend.
Well, better a small win than a loss.
My backtesting has shown that 3R is achievable almost every day from lower TF on strongly trending pairs. Of course the potential for losses by tighter stops is also higher. It's a matter of personal preference.
I tripled my account in 3 weeks 
{image} {image}- #1,325
- Aug 17, 2020 7:53am Aug 17, 2020 7:53am
- Joined May 2010 | Status: Trader | 1,188 Posts
{quote} what????only magic trades? this is incredible. like Mino always said, we have to be persistent
- #1,328
- Edited 8:47am Aug 17, 2020 8:34am | Edited 8:47am
- Joined May 2010 | Status: Trader | 1,188 Posts
I don't understand how you do these excellent trades !
I have to work hard. Humility for me Cheers jf
1. Look for clearly trending pairs
2. Only BUY above 100EMA, only SELL below 100EMA
3. Only use H1 or M15 for entries
4. Don't enter after big candles, wait for smaller one or an inside bar
5. Inital TP is 3R, but take partial closes or tighten the SL if price shows rejection at S/R zones, daily & previous day's Highs/Lows, top/low ADR, round numbers (50/100 levels)
6. After price reaches 1-2R, trail SL behind last M15 / M5 swings
So far this works great for me. It it important to mention that I never trade this concept as "Set & Forget". I closely monitor my trades and take partial closes or trail my SL manually.
Personally, I'd rather have a higher winrate (about 78%) and take smaller wins (scaling out of positions) than having a lower winrate with fewer and bigger wins.
- #1,338
- Aug 17, 2020 11:48am Aug 17, 2020 11:48am
{quote} In lower TF I only trade M15 with all 28 major/minor pairs (see below). SL is flexible, it can be the previous candle's high/low + a few pips, the last swing H/L, a RN or a major S/R zone. Regarding the sessions, I only trade from Frankfurt Open to London Close. {image}
nzdchf
