Quoting drlc01Dislikedpermanentjaun,
it seems that Kamanda was doing the OCO order so one trade based on previous day closed (5PM EST). Although the setup is of course one long and one short.
Seems like an easy setup and he claims with high resulting PIPs.
Thanks,
EricIgnored
traderone has mentioned that he would let some trades run longer than 50 pips. As soon as you do that you affect the expected payout of the system dramatically such that its no longer the same system. How does he know which times to let it run and when to stop it at 50? I'm trying to find something that is proven to work consistently. Unfortunately traderone pointed out that 100 SL on a weekly chart may not be enough.
I'll have to look at my results again, but perhaps a 150 SL would still produce good results. I'll ask the question now then. At what point do we consider the system worthy of being traded? When we can average 100 pips a month? 150? 200? What is successful for this system?
Traderone - I haven't looked at a daily chart yet, but when you say the 100 SL doesn't work are you saying the price will rise say 100 pips. We enter a trade. It then retraces 100+ pips and then rockets 200-300 pips up to close up 200-300 pips? Or were you speaking in terms of being stopped out if using a trailing SL? Not sure if that would really change the question. Matt