Hammer and shooting star
I mainly use this method on the majors and will do a set and forget backtest and share the results here. I will focus on the euro pair at 1h time frame only. The thesis is it does better than 50% but it could do worse or better for the following rr, which is 1 to 1 and weirdly the 2 risk to 1 reward. I'll do 20 trades at a time until 100+ is done. Why 20 trades? Im a big fan of Mark Douglas. Here are the rules. 1. Euro pair 2. On hammer, enter on 1 pup up the close or wick after the close, and stop loss at the opposing side of the bar 2 x the spread pip. 3. Rr be 1 to 1 and 50% of the risk. 4. I can trade only before eu to eu close so that's the time frame This is purely speculative as I really love these two candles. Will update this as soon as Im done with th72e first recent 20 1hour candle trades.
Present to feb 10 2023 eu time.
Set 1. 20 candles, 1 to 1 rr 55.56%, 2 to 1 73%, and trailing is 50%. (18 triggered 2 didt. Weirdly if risk is 100. After 20 trades the 1 to 1 ended with 200 dollars and the other one 150 dollars profit. The trail of course made more than 1 to 1; its more.
Jan 27 to feb 10 2023
Set 2. 20 candles, 1 to 1 rr is 75% with 900 dollars gain. 2 to 1 risk to reward 80% at 300 dollars gain, and trail at 65% with more.
Feb 8 to jan 27 2023
Set 3. 20 candles. 1 to 1, 2 to 1, and trail. 75% at 800 gain, 90% at 500 gain and 45% with more.
I mainly use this method on the majors and will do a set and forget backtest and share the results here. I will focus on the euro pair at 1h time frame only. The thesis is it does better than 50% but it could do worse or better for the following rr, which is 1 to 1 and weirdly the 2 risk to 1 reward. I'll do 20 trades at a time until 100+ is done. Why 20 trades? Im a big fan of Mark Douglas. Here are the rules. 1. Euro pair 2. On hammer, enter on 1 pup up the close or wick after the close, and stop loss at the opposing side of the bar 2 x the spread pip. 3. Rr be 1 to 1 and 50% of the risk. 4. I can trade only before eu to eu close so that's the time frame This is purely speculative as I really love these two candles. Will update this as soon as Im done with th72e first recent 20 1hour candle trades.
Present to feb 10 2023 eu time.
Set 1. 20 candles, 1 to 1 rr 55.56%, 2 to 1 73%, and trailing is 50%. (18 triggered 2 didt. Weirdly if risk is 100. After 20 trades the 1 to 1 ended with 200 dollars and the other one 150 dollars profit. The trail of course made more than 1 to 1; its more.
Jan 27 to feb 10 2023
Set 2. 20 candles, 1 to 1 rr is 75% with 900 dollars gain. 2 to 1 risk to reward 80% at 300 dollars gain, and trail at 65% with more.
Feb 8 to jan 27 2023
Set 3. 20 candles. 1 to 1, 2 to 1, and trail. 75% at 800 gain, 90% at 500 gain and 45% with more.
Trading is gambling. So gamble responsibly.
