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  • #4,361
  • Mar 15, 2021 12:25pm Mar 15, 2021 12:25pm
Quoting StrandedBill
Hey Roadmappers, I've been really enjoying my trading these last couple of months after making some changes. I had to ask myself how come I could do so well backtesting but perform so badly in real time. A significant answer for me was the timeframe I was trading but it was shocking how long it took me to realise that. Scrolling through a chart while backtesting gave me a 'feel' for the market that I didn't get from viewing snap shots. I work full time and can only view the charts sporadically. I was trading on the 1H charts after...
I am in a similar circumstance with day job and trading. What i noticed when using specific R:R ratio for targets is at 1:1 I may have 80% win rate, then I would go back to all my trades and say what if I took 1.5:1, 2:1, 2.5:1, 3:1 my hit rate would maybe go from 80%(1:1), 78%(1.5:1), 70%(2:1), 65%(2.5:1), 45%(3:1). My results would vary with each pair as well. 1:1 at 80% isn't bad at all
  • #4,362
  • Mar 15, 2021 1:28pm Mar 15, 2021 1:28pm
Quoting ChubbyWookie
{quote} I dont seem to have that issue with back testing but i use soft4fx. However i do have to open charts in the higher timeframes to get it to show up on m1. May try increasing your chart history or maybe increase "NumBars" in the indicator settings
Yeah, I already tried increasing NumBars and chart history, didn't work. But after you mentioned soft4fx I decided to test the CompRsi on other software older data to see if it works, because maybe my meta trader 4 is just bugging. Since I can't use soft4fx though, because it costs, I used forex tester 4, but it seems that the indicator still doesn't work..

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  • #4,363
  • Mar 15, 2021 3:54pm Mar 15, 2021 3:54pm
Quoting 2muchbutter
{quote} Yeah, I already tried increasing NumBars and chart history, didn't work. But after you mentioned soft4fx I decided to test the CompRsi on other software older data to see if it works, because maybe my meta trader 4 is just bugging. Since I can't use soft4fx though, because it costs, I used forex tester 4, but it seems that the indicator still doesn't work.. {image}
I have tried Forex Tester 4 but I couldn't figure out how to get past the intro

Soft4fx does have a free demo but you are limited to only 5 trades per simulation and you can not load saved simulations. Which isn't the end of the world to paper trade and just create another simulation where you left off

Can try new duo indicator Laura mentioned by Barraka https://www.forexfactory.com/thread/...3#post13311913 or maybe FX blue FX Blue - Unique forex trade simulator for MT4
  • #4,364
  • Mar 15, 2021 5:34pm Mar 15, 2021 5:34pm
Quoting ChubbyWookie
{quote} I am in a similar circumstance with day job and trading. What i noticed when using specific R:R ratio for targets is at 1:1 I may have 80% win rate, then I would go back to all my trades and say what if I took 1.5:1, 2:1, 2.5:1, 3:1 my hit rate would maybe go from 80%(1:1), 78%(1.5:1), 70%(2:1), 65%(2.5:1), 45%(3:1). My results would vary with each pair as well. 1:1 at 80% isn't bad at all
Makes a lot of sense and this would be the next logical step for me. I'll get on some backtesting and get some numbers together. I want these to remain trades that I can completely leave alone though. Do you monitor yours at all?

Most of my trades are on 4H but I still struggle with exiting trades even after some wise words from Laura. So for now I'm using a trend indicator that I use as a trailing stop. I can end up giving back a fair amount of profit but it does help me catch the bigger moves when they happen.
  • #4,365
  • Mar 16, 2021 4:23am Mar 16, 2021 4:23am
Quoting StrandedBill
{quote} Makes a lot of sense and this would be the next logical step for me. I'll get on some backtesting and get some numbers together. I want these to remain trades that I can completely leave alone though. Do you monitor yours at all? Most of my trades are on 4H but I still struggle with exiting trades even after some wise words from Laura. So for now I'm using a trend indicator that I use as a trailing stop. I can end up giving back a fair amount of profit but it does help me catch the bigger moves when they happen.
I try to monitor in one way or another. for M15 and lower time frames I try to be available to sit and be at the charts. Other times I will use the alert function on MT4 at areas of interest so I can monitor when mobile or my wife may keep an eye on them. I used to primarily trade the H1 and H4 time frames. For those I typically set and forget. Maybe check them during breakfast lunch time and before bed.

-You cant give back what you don't have. If your up 3:1 but close out at 1:1 you still made profit
-You can always try closing out a portion at 1:1 and let the rest run to 3:1, ADR, support/resistance area. Just have to find what fits your personality
-For me I tend to like the horizontal support resistance areas and don't use specific R:R ratios as much. However by going through hundreds of trades trying to find the best TP based on R:R ratio I started to see the support resistance areas much better

Going back to bed to catch a few more Z's
Two EUR/USD short Entries. Should have stayed away from the second entry looking how the Daily open price was acting as support/resistance

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And away it goes
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  • #4,366
  • Mar 16, 2021 4:46am Mar 16, 2021 4:46am
So far, this morning is better than yesterday.
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every Saint has a past. Every Sinner has a Future
  • #4,367
  • Mar 16, 2021 6:21am Mar 16, 2021 6:21am
Quoting ChubbyWookie
{quote} I have tried Forex Tester 4 but I couldn't figure out how to get past the intro Soft4fx does have a free demo but you are limited to only 5 trades per simulation and you can not load saved simulations. Which isn't the end of the world to paper trade and just create another simulation where you left off Can try new duo indicator Laura mentioned by Barraka https://www.forexfactory.com/thread/...3#post13311913 or maybe...
Thanks for the input, I'll make this the last reply regarding this subject. So I fixed it finally, it's really simple actually since CompRsi uses different timeframes, you got to have data for each timeframe the indicator uses as well. At the beginning I only had 1 minute data, after figuring the solution out I got data for 5m/15m/30m/1h for the period that I want to back test and now it works. So that's solution in case someone stumbles upon a similar problem.
  • #4,368
  • Mar 16, 2021 6:31am Mar 16, 2021 6:31am
Hi Laura, I had been waiting for price to break 200 ema in EURUSD m15. Price did break it, but I am not sure where to enter here. According to the rules, I should wait for price to retest bottom moving average right?

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  • #4,369
  • Edited 8:46am Mar 18, 2021 8:27am | Edited 8:46am
There was something in this chart that made me nervous. Got in a bit late. ADR low nearing as well as the 0.7 lower fibo level. Then the chart structure seemed to change, so I got this short position out of my book, even if the indicators looked still good. +21 pips banked was good enough though...
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If I code, I can't trade...
  • #4,370
  • Mar 18, 2021 9:03am Mar 18, 2021 9:03am
More of a scalp this one, but I closed the position for the same reasons... Banked only some 7 pips.
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If I code, I can't trade...
  • #4,371
  • Mar 18, 2021 9:14am Mar 18, 2021 9:14am
Quoting Cognoscio
More of a scalp this one, but I closed the position for the same reasons... Banked only some 7 pips. {image}
your spread of 3,9pips is too high, also 1,4pips for EU is far too high. you should change your broker;-)
trading is like dancing, don't think and just listen to the music!
  • #4,372
  • Edited 9:50am Mar 18, 2021 9:29am | Edited 9:50am
Quoting birdland
{quote} your spread of 3,9pips is too high, you should change your broker;-)
I agree wholeheartedly, but I don't know a trusted broker that will provide ECN/STP services while being regulated by a reputable governing body.

Most brokers within the EU region seem to gravitate towards Maltese or Cypriot regulators - thank you very much.
Now that Aussie-land is also tightening regulations, their brokers seem to offer accounts regulated under Vanuatu or Seychelles regulation. One of them have their servers in Hong Kong, which, from a risk management point of view I find a very odd thing to do within the current geo-political climate.
UK brokers seem to get nervous about providing financial services to customers on the EU continent and are now moving their customers from FCA-regulated accounts to (again) Maltese or Cypriot-regulated accounts...

My current broker's servers are at GMT+2, and they widen up spreads even more (enormously so...) during their rollover times, so I'm open for suggestions...
If I code, I can't trade...
  • #4,373
  • Mar 18, 2021 9:47am Mar 18, 2021 9:47am
Quoting Cognoscio
{quote} I agree wholeheartedly, but I don't know a trusted broker that will provide ECN services while being regulated by a reputable governing body. Most brokers within the EU region seem to gravitate towards Maltese or Cypriot regulators - thank you very much. Now that Aussie-land is also tightening regulations, their brokers seem to offer accounts regulated under Vanuatu or Seychelles regulation. One of them have their servers in Hong Kong, which, from a risk management point of view I find a very odd thing to do within the current geo-political...
yes, your arguments are understandable. but i think there must be more competitive ECN brokers that offer better spreads.

i can't recommend any because this is interpreted commercially, but there are plenty of sites on the internet where better ECN brokers can be found.
trading is like dancing, don't think and just listen to the music!
  • #4,374
  • Mar 18, 2021 9:56am Mar 18, 2021 9:56am
Quoting birdland
...., but there are plenty of sites on the internet where better ECN brokers can be found.
That's what I thought too, and started checking site recommendations. All I found was affiliate links to the recommended broker - which in my view voids their recommendations.

Whatever, this thread is about LauraT's roadmap - so I'll leave it at that for now...
If I code, I can't trade...
  • #4,375
  • Mar 19, 2021 2:22am Mar 19, 2021 2:22am
Should have entered around the circled area. Entered a low size trade because it was not a perfect entry.

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  • #4,376
  • Mar 19, 2021 2:46am Mar 19, 2021 2:46am
I monitored that one as well but didn't enter as RSI2/9 was still a bit low.
If I code, I can't trade...
  • #4,377
  • Mar 19, 2021 2:59am Mar 19, 2021 2:59am
Hi all, not posting much here ,since due to my limited trading time available, my trades are scalps and micro swings under 10 pips, posting here my best trades for the week.
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  • #4,378
  • Mar 19, 2021 7:29pm Mar 19, 2021 7:29pm
Two trades on EU. 1st one is aggressive but beginning to line up on the higher time frames. Both trades executed on M5.
Have a great Weekend everybody!
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  • #4,379
  • Mar 20, 2021 6:12am Mar 20, 2021 6:12am
Quoting ChubbyWookie
Two trades on EU. 1st one is aggressive but beginning to line up on the higher time frames. Both trades executed on M5. Have a great Weekend everybody!{image}
Thanks for posting, Chubby,
What settings are you using at the CompRSISelect indicator on the 5 min chart?
Thanks.
  • #4,380
  • Mar 20, 2021 12:24pm Mar 20, 2021 12:24pm
Quoting MidnightRun
{quote} Thanks for posting, Chubby, What settings are you using at the CompRSISelect indicator on the 5 min chart? Thanks.
Certainly!!

My M5 charts and up all have the same settings. Only my M1 is different.
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