Thank you so much for taking your time to explain the system further...I will like to know if u ve tried pairs like GU and EU, I think both wouldnt give bad results neither especially EU(its a good trendy pair). I took a quick glance at how EU(it looked good. I havent done a stastical back test though. What do you think?
Hello all.
This is a general question,
I hope I dont confuse anyone.
Every sunday night we enter 2 orders, buy stop and sell stop with there respective TP/SL.
After one gets triggered, we wait and hope it hits our tp, but if it reverses and we get stoped out and then we hope it will hit our 2X channel TP.
My question is, at what point do you change the TP to 2X.
I mean if your away from the computer and the initial breakout gets stopped out and reverses but only hits your 1Xchannel because you were not there to change the channel to 2X TP.
How are you folks getting around this problem,
PLEASE DO HELP, this thread is AWSOME.
Thanks
IA4X
Ignored
You change your TP to 2x if you get stopped out on your initial trade.
If you are not around your computer, there is nothing you can do except set the PTs for 1x initially and walk away from it. You've got to be there to change it to 2x.
Thank you so much for taking your time to explain the system further...I will like to know if u ve tried pairs like GU and EU, I think both wouldnt give bad results neither especially EU(its a good trendy pair). I took a quick glance at how EU(it looked good. I havent done a stastical back test though. What do you think?
Ignored
I haven't looked at any other pairs. They would have to be backtested.
Another overall win...sell stopped out but buy hit 2x TP...im workin on something that can let us continuing trading if our TP is hit in the early part of the week...
I have just spent the last couple hrs going through this thread and doing some backtests of my own with this system, I cant believe this thread hasnt had more interest than it has! It looks very good, and i plan to start demoing it next week.
Thanks to nomask for posting it and all you guys trying to improve it etc.
Another overall win...sell stopped out but buy hit 2x TP...im workin on something that can let us continuing trading if our TP is hit in the early part of the week...
Ignored
your 2xTP was hit??? not on my plattform (IBFX) (high 203.72 and 203.68) so 203.77 is still in progres... right Billbss?
So even thought we are very close to our TP.
I understand changing the system to protect some pips is messig around with the systems principles.
But BB?, you dont do anything like that at all, and just let it ride out.
It would be a good trade gone bad. A wise mentor once told me to protect your profits by moving yout Stop Loss. He wasnt a fan of trailing stops though.
Any comments?
Thank everyone...yes, trade still pending TP on North F.
