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It's giving me a lot of new ideas.
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- #902
- Edited 5:44am Dec 30, 2022 1:04am | Edited 5:44am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
{quote} Hi niks, may I ask you, how would you have managed your trade if it had gone further down in this case, without large retracements, and have you ever had this situation that the price does not retrace. Thanks
i think you'd agree price never moves in one direction forever so you'd still have many options to get it of it if managed correctly, a better question to ask is how you would of handled that situation and start thinking long and hard about it because one day it will happen
yes, for sure, price will not always retrace to the point of your first order, but you have many orders to play with, i've had trades move over 100 points against my original position and still managed a profit, stay calm, read the price action, and only trade pairs you are intimate with, know them inside out, know their record highs and lows, know their ranges, know their trends, then you will feel it, i have only ever traded eurusd and audusd, thats it, for many years, i have one screen and two charts open at once, that's it
as i was looking through my history i came across this which is what i think you actually meant when you asked about a trade that has no chance of returning to profit, this is over 200 points in less than 5 minutes never to return, luckily i wasn't caught in this one, i don't think anyone could forecast it, so what would you do if you were stuck in it?
i'd be selling very cautiously at these record low levels and if i got stuck in this live i would of bailed around the 100 point mark and taken a loss for sure, thankfully, this does not happen very often - always be extra cautious around record low or high levels, hope this helps
every minute matters!
- #903
- Dec 30, 2022 1:11am Dec 30, 2022 1:11am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #908
- Dec 30, 2022 5:51am Dec 30, 2022 5:51am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
Friday trades continue... {image}
Perfection is the enemy of good enough!
- #912
- Dec 30, 2022 6:15am Dec 30, 2022 6:15am
Hello. I am following this thread from few days and I just want to specify a few things. I am very experienced with KOF stategy and with it I passed FTMO challange at the first attempt. I can say that this strategy actually changed my life. What I am noticing here is that you are only using the base of the KOF strategy. You all are always attempting to reach emas but this is just a little piece of the whole system. You are only buying when price is below and selling when price is above but unfortunately it is not that simple and doing always this...
Could you please help us understand the proper way of using it?
Many thanks!!
The best traders hone their skills through practice and discipline.
- #913
- Dec 30, 2022 6:32am Dec 30, 2022 6:32am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
got some free time this week, gave it a try to test the strategy. this is the result for today only, started with 3k and use 1 lot with leverage 1:500, too big risk for real account but this is demo so that's just fine.
the drawdown looks too good to be true for me compare to the result.
but the strategy is worth the time you spent to learn it.
summary today:
the drawdown looks too good to be true for me compare to the result.
but the strategy is worth the time you spent to learn it.
- #918
- Dec 30, 2022 7:12am Dec 30, 2022 7:12am
{quote} Hi Niks,just analysing this example,i put ema600 for some references ,and I know you already have your approach and much experience,but maybe idea is interesting ,much time need to pass that ema 200 cut ema 600 ,just like in this case and things to consider after this happen, maybe can help to build thinking around it...... {image}
Ideally, we are targeting 15 minutes candle to reach 50 EMA (on a 15-minute timeframe) which means an EMA of 750 on a 1-minute chart.
I am experimenting with an equivalent strategy; hence I also use EMA 9, EMA 20, and EMA 50 of a 15-minutes timeframe on a 1-minute chart along with other EMAs.
I see better results with this strategy.
Many thanks!!
The best traders hone their skills through practice and discipline.
- #919
- Dec 30, 2022 7:23am Dec 30, 2022 7:23am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #920
- Dec 30, 2022 7:29am Dec 30, 2022 7:29am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!