Yes see post 36 in regards to a 5 pip spread
As far as mechanical not sure on that. It could be used more for confirmation of a trend you are in see post 37. Really need to look at the stop loss. For instance post 37 has a 36 pip retracement then an 88 pip retracement.
As far as mechanical not sure on that. It could be used more for confirmation of a trend you are in see post 37. Really need to look at the stop loss. For instance post 37 has a 36 pip retracement then an 88 pip retracement.
Quoting firehorseDislikedHi goodthings
A very interesting post.
Could you clarify if the 10pips include 5 pip spread?
e.g. price moved 15pips to get you net 10pips.
"Say you lost 30 pips on every bad trade which to me is a lot if you use good common sence in your trading".
In my experience found that assumptions like these need to be rigorously tested.
You need to balance risk and reward with every decision you make.
Once the price exceeds your trigger point 50,60,70, how much are you will to risk before it reaches your target of 10 or above.
Unless you are mechanically working with 1min timeframe charts, you need to examine every single trade to see if there has not been a retrace past your stoploss e.g. 30 (-spread) before hitting your target (+spread)
The larger your target the higher the probability it has of hitting your stoploss.
Also, once you have a large number of trades e.g. 237, spread becomes a significant factor in calculations. 237 x 5 = 1185. Not insignificant.
I know what you presented is not a completed system but it certainly has some good ideas for further testing.
Best regards
AlanIgnored
throws am ikan bilis (small fish) to tiki, thanks kitty.
