Just checking what you see on the daily chart for eur/chf. Has the trend turned upwards and the indicator turned blue? Im looking now and the 4hr/1hr/30min are all pointing up and blue, but the daily is still orange (but yesterday's candle has closed up). Do you wait for all four time frames to turn the same color or do you sometimes make the trade before the daily changes color? Btw Im checking this on MT4.
hello pete, here is my chart set-up for EUR/CHF on daily. it seems there's something u r doing that we don't understand.... attached is the screen short using different settings .
hello pete, here is my chart set-up for EUR/CHF on daily. it seems there's something u r doing that we don't understand.... attached is the screen short using different settings .
Ignored
He was right cos he entered at 00.00 GMT per my broker's platform. I checked my platform at the time he posted and I still haven't got in yet as it was 1.6435 then after reading his post. He follows the rules by checking all the 4 tf's before entering order. You're lucky I paid attention.
Ive had a quick look over the system and your journal thread (this one). Theres no doubt this is one of the much more sesible systems on the Forum.
Key-points being the MTF aspect, Following the longer term trend and a nice amount of breathing room for the SL's.
As a quick thought to try and improve(?) the system. It seems you say 100pip stop-loss regardless of the pair being traded. Maby to take 70% of the average daily range for the last 5 trading days and use that for the SL. That way relevant SL's would be used for each currency traded. A more tailord % could be discussed as this is just a quick assumption as for what would be apropriate.
Maby some'one knows of a statistical probability in % for where resumption of the main trend will usualy happen, just throwing ideas around like I said!
My guess is your waiting for the trending to start this year to start pileing up the pips! Im seing alot of +10 trade's. And thats the beauty! Conditions are not brilliant but your not loosing money.
Best wishes, and I look forward to see'ing your progress.
