Hi, Eagle. I love Italian food and ice cream ! Mamamia ! By the way can you explain dan send me the indicator of your system. Bless ! Stephen
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DislikedJust my 2 cents.
A system with a fix SL and fix TP definitely a losing system.
Not necessarily true.
If the TP < SL, then no need to argue, you will loss.
Not necessarily true. It depends on the win/loss ratio of the system.
If the TP > SL, then you need a system with at least 50% winning ratio or you will loss/break event on a long run.
Again, this doesn't have to be true.Ignored
DislikedDear Eagle;
Your Breakout System is simple fine system that works also very well.
I decided to report my own Experience.
Pairs : EUR/JPY GBP/USD GBP/JPY USD/CHF AUD/USD USD/JPY
All with good results everyday but USD/JPY need other Time frame.
If you use 06:00 to 09:00 (GMT+2) , then switch to 05:00 to 08:00 for better results with backtest confirmed by me.
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06:00 to 09:00 means 04:00 to 07:00 GMT or 05:00 to 08:00 London because london is GMT+1 now in the summer. So Sync your Metatrader with these details.
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Use Triple CCI woodies as your Second Indicator . (Trend CCI50 and Entry CCI:14 )
Activate "Fractal" Indicator.
Use Moving Average Indicator with Following Setting.
1. Period=50 Shift=0 MA method= Simple Apply to=Close Style=RED
2. Period=20 Shift=0 MA method= Exponential Apply to=Close Style=Yellow.
Conditions :
IF fractals Occure During the redbox and the TrendCCI50 > 0 then the Breakout occur on upper side of the Box. but if the TrendCCI50 changed to less than 0 or weak , then it may go Down.
Also , If the EntryCCI 14 is less than 0 then it is harder to break the box when the Trend CCI 50 > 0.
I try to make a Document , but it is working 100%.
Riguardo
FATTO...Ignored
DislikedJust my 2 cents.
A system with a fix SL and fix TP definitely a losing system.
If the TP < SL, then no need to argue, you will loss.
If the TP > SL, then you need a system with at least 50% winning ratio or you will loss/break event on a long run.
I believe a breakout system will have 50% winning ratio only if you set the SL=TP. So in a long run, I believe this system will result a break event or event a loss because the spread.
BUT, you can improve you winning chance using this system by set your SL fix and having a dynamic TP (a trailing stop that allow your profit run) and only place one type of order (only BUY and never SELL, or only SELL and never BUY)which match with the trend.
And then your question will be "what SL and what kind of a trailing stop ?" and "How to determine trend"
You need to find it by your self.Ignored