EA doesn't have anything in common with the "feel" of the market. So I don't agree with EA's.
It was only manual trading on 1h tf.
I make even shorter tf, like 15 min, but tose require more attention and a lot of time....to stay at the pc.
Right now entries on 4h tf are something like 1040 pips up, there was made on 1.04.2008.
Regarding sl, you always have to adjust it based on the tf, pair and market mood. If you made the right entry (based on the signal and market mood) you can go with as 40 pip sl even on the 4h tf (which is a really tight sl for 4h), and ALWAYS move your sl (at least to breakeven) when the market goes in your favour (based on the same criterias), even if is hit, you will always have another re-entry.
My main objective when I open a position, as a MM, is first NOT TO LOSE or cut losses short, so the protection of the account, and second HOW MUCH TO WIN.
I also use a multiple lot entry, 5 lots, as you can see, and close them one by one at fibo levels of 34 EMA (as in vegas system). I always let 1 or 2 lots run and follow them with a sl or trailing stop, until they are hit (last profit target is something like 610 pips or 987 pips), or until market give me signs of reversal). Always you will have a new opportunity to re enter a position, so do not worry.
And be aware of the TREND. I do made entry in countertrend but my sl is really tight (something like half usual sl), and I took early profit at lower levels, like 30-50 pips, then move sl to BE, and let 1 or 2 lots run, if the move is greater, then I will took a good piece of it!
It was only manual trading on 1h tf.
I make even shorter tf, like 15 min, but tose require more attention and a lot of time....to stay at the pc.
Right now entries on 4h tf are something like 1040 pips up, there was made on 1.04.2008.
Regarding sl, you always have to adjust it based on the tf, pair and market mood. If you made the right entry (based on the signal and market mood) you can go with as 40 pip sl even on the 4h tf (which is a really tight sl for 4h), and ALWAYS move your sl (at least to breakeven) when the market goes in your favour (based on the same criterias), even if is hit, you will always have another re-entry.
My main objective when I open a position, as a MM, is first NOT TO LOSE or cut losses short, so the protection of the account, and second HOW MUCH TO WIN.
I also use a multiple lot entry, 5 lots, as you can see, and close them one by one at fibo levels of 34 EMA (as in vegas system). I always let 1 or 2 lots run and follow them with a sl or trailing stop, until they are hit (last profit target is something like 610 pips or 987 pips), or until market give me signs of reversal). Always you will have a new opportunity to re enter a position, so do not worry.
And be aware of the TREND. I do made entry in countertrend but my sl is really tight (something like half usual sl), and I took early profit at lower levels, like 30-50 pips, then move sl to BE, and let 1 or 2 lots run, if the move is greater, then I will took a good piece of it!
I don't say
