So what set ups are people watching? Swissy looks like a possibility in a couple of days.
DislikedSo what set ups are people watching? Swissy looks like a possibility in a couple of days.Ignored
DislikedI've backtested this with a few pairs (eurjpy, eurusd, gbpusd, gbpjpy). So far, the best system is gbpjpy. See this post for detailed results:
DislikedI have been testing the system on a demo account for the last 13 days. I use 3 lots and set a TP of 30 pips. Not letting the lots run yet. So far I have 6 winners and 0 losers. The demo account is up $2900.
I have traded GBPJPY, AUDUSD, Pound and the Swissy. Latest was the Swissy last night.
Not entirely scientific but I think the best part of the system is that you don't over trade. It also teaches patience!Ignored
DislikedOn Oanda's chart, EUR/CHF has been declining for eigth consecutive bars..will this consider as one setup ?http://www.forexfactory.com/images/icons/icon10.gifIgnored
DislikedI wrote an EA for this. It's a bit(a lot) messy right now since I wrote it in pieces, and the results are so-so. It only really seems profitable with default parameters (SL = 90, TP1 = 30, TP2 = 100) on the GBP/USD.
See if it's working ok. It ignores Sunday bars right now which I don't think is smart. Sunday bars seem to tell a lot about the movement. If it's a doji, the movement tends to hesitate, if it moves hard against the current trend it usually means the trend is over-ish.
Anyway, here it is.Ignored
DislikedAccording to the original rules this would have been a TP and a second entry.....or one really nice trade using a trailing stop.
as to time frames I have found this will work on the 4 hour charts (3 hour at Oanda) also some pairs on the hourly......it will also work on the weekly and monthly charts....
just a little something to broaden your horizons......
on the shorter TFs you would use tighter TPs and SLs using the ATR is still probebly your best bet.....on the weekly and monthly you would use micro or nano lots with wider TPs and SLs......Ignored
Dislikedthese are the pairs I have been watching, some are better suited than others....I will be sorting thes in the near future but they are a good start.
Dislikedpavejon, are u using North Finance for your charts or some other broker? also do u incorporate the 20/50 EMA filter with your trades?