- #5,524
- Oct 18, 2022 4:54pm Oct 18, 2022 4:54pm
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
{quote} Forex = uncertainty Thats the bottom line. The reason why there are good traders is because they understand the concept of money management. I'm under the impression that you have lost some money on the forex which is perfectly normal, happens to the best of us. This system is 90% mechanical. If you are a beginer than you should leave it like this. So the question is, how do you know when to use what strategy, or if the strategy is just performing well for the time being. It is difficult to know this and i'll be honest I don't know what...
1 more hour to go for the 1st candle to complete, then start the party!!Just reviewing EG pair, seem GBP is strong against EUR and JPY is stronger than both of them. So, I am thinking whether am I going for E/J or G/J pair? because I normally trade one of the pair only.
i downloaded the EA created by one of the trader here on this thread, and back tested it and the result is negative using 4H TF.
i suggest the coder to add more functions where one of the pending orders is triggered and once in positive profit a trail stop to break even will move using (using the 15 or 5 minute period.
i also suggest to get the body size of the first 4H BAR (monday bar 04:00)
and calculate this bar high and low to get the exact point value in order to get the exact lotsize
with risk per trade 1%.
where: range of bar=MathAbs(High-Low)/Point ====for fx pairs
also add the calculation for non fx pairs like metal and crypto and other pairs.
also add drawdown with a max of 3% of account equity or balance.
after hit sl or tp of each side of first entries when price touch this zone or levels again where price is within this zone pending will trigger again and again as long as the end of the week reach (friday) will close all orders..
thank you.
attached files:
i forgot where that link or post with this files here on this thread.
but here i found the post link
https://www.forexfactory.com/thread/...0#post11311400
i suggest the coder to add more functions where one of the pending orders is triggered and once in positive profit a trail stop to break even will move using (using the 15 or 5 minute period.
i also suggest to get the body size of the first 4H BAR (monday bar 04:00)
and calculate this bar high and low to get the exact point value in order to get the exact lotsize
with risk per trade 1%.
where: range of bar=MathAbs(High-Low)/Point ====for fx pairs
also add the calculation for non fx pairs like metal and crypto and other pairs.
also add drawdown with a max of 3% of account equity or balance.
after hit sl or tp of each side of first entries when price touch this zone or levels again where price is within this zone pending will trigger again and again as long as the end of the week reach (friday) will close all orders..
thank you.
attached files:
i forgot where that link or post with this files here on this thread.
but here i found the post link
https://www.forexfactory.com/thread/...0#post11311400
- #5,534
- Sep 24, 2024 8:06pm Sep 24, 2024 8:06pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Does anyone still trade with this strategy manually?
Yes.
Similar strategy New York Sunday 5PM candle.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #5,535
- Sep 24, 2024 8:29pm Sep 24, 2024 8:29pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Weekly Sideways Range Bound market conditions
Weekly 4H
Weekly 4H
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #5,536
- Sep 25, 2024 8:24am Sep 25, 2024 8:24am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Weekly Sideways Range Bound market conditions {image} Weekly 4H {image}
Back to Weekly 4H range
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett