Here is the macd indicator, there are differant versions of it this is v100.
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DislikedHere is the macd indicator, there are differant versions of it this is v100.Ignored
DislikedBoth GBP/USD and EUR/USD seem to be counter trending now and both have broken UST resistance trend lines on the 1H. Both are creating RB's on the 4H MACD BUT the stop is massive on both even if taking the trade on the pullback to the breakout point. If waiting for pullback its around 70 pips for GBP and 60 for EUR. Too much risk it would seemIgnored
DislikedHi Hookem28,
I'm not aware of this setup that you are describing. Would you mind describing how you trade it - is it simply a break of the 2 tweezer top highs? I spend a lot of time going back through the charts looking for setups, how often they occur, success rate, appropriate Stop losses etc. Any info you can pass on would be great.
Thanks, BenIgnored
DislikedJust a small calculation/illustration for the question of partial profittaking (which was discussed yesterday). So, according to some my setup statistics on EURUSD during the last 2 months, if to take "good" TCs, one could have about 90% chances of reaching the 1st profit target of 23 pips in average and 40% chances of reaching the 2nd profit target of about 63 pips (my targets, your's may be different). Plus 1 loss of 45 pips.
So, if to take these data, let's try 3 different variants:
1) close 1 lot (2x0.5 lot) at the 1st TP;
2) close 0.5 at the 1st TP and another - at the 2nd one;
3) close 1 lot (2x0.5 lot) at the 2nd TP.
Possible results are on the picture below. So, as one could guess, the smaller the target, the higher probability of reaching it and vice versa. V.1 gets the highest % of profits (90%) but the lowest final profit (162 pips/1lot). V.3 brings the highest profit (207 pips/1lot) but has only 40% of profits + 50% of BE. And the 2nd one, described by Phillip in the system, is the compromise variant - we still have 90% profits but final profit is about 10% less than V3.
But, besides maths:
- v.3 with rare big profits is more difficult psychologically (at least for a beginner);
- if to recalculate lot after each position, complex percentage may in the end bring more money on many small (in pips) profits than on several big ones.Ignored
DislikedJust a small calculation/illustration for the question of partial profittaking (which was discussed yesterday). So, according to some my setup statistics on EURUSD during the last 2 months, if to take "good" TCs, one could have about 90% chances of reaching the 1st profit target of 23 pips in average and 40% chances of reaching the 2nd profit target of about 63 pips (my targets, your's may be different). Plus 1 loss of 45 pips.
So, if to take these data, let's try 3 different variants:
1) close 1 lot (2x0.5 lot) at the 1st TP;
2) close 0.5 at the 1st TP and another - at the 2nd one;
3) close 1 lot (2x0.5 lot) at the 2nd TP.
Possible results are on the picture below. So, as one could guess, the smaller the target, the higher probability of reaching it and vice versa. V.1 gets the highest % of profits (90%) but the lowest final profit (162 pips/1lot). V.3 brings the highest profit (207 pips/1lot) but has only 40% of profits + 50% of BE. And the 2nd one, described by Phillip in the system, is the compromise variant - we still have 90% profits but final profit is about 10% less than V3.
But, besides maths:
- v.3 with rare big profits is more difficult psychologically (at least for a beginner);
- if to recalculate lot after each position, complex percentage may in the end bring more money on many small (in pips) profits than on several big ones.Ignored
Disliked@York
Thank you for your work. Regarding exit strategie 3, you said 50% would be closed at BE. How did you define which trade was BE and which not? What is the result if you don't manage the trades and just set SL and TP (fire and forget)?
Thank you in advance, really good work.
Regards
JansonIgnored
DislikedEUR is between MA's, price makes HH and HL, candles are sitting on the support. I'm waiting for close above 89, pullback and TC.Ignored