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DislikedScott,
I have to correct you. endroute does place SL. He wrote he uses 20 pip for all the pairs he trades, except for GJ where he uses 50. I add the spread to these numbers to be on the safe side. As for TP, he waits for the EMA to cross.
I agree with your first point. BTW, take a screen capture when you take the trade. That way, when you go over your trades at the end of the day, you can remember why did you take the trade. very easy in MT4.
BR
Dani M.Ignored
DislikedDani,
From the very first post of this thread, endroute states:
"I typically do not set stop losses unless I am going to be away for a while, if I do I only set them at 20 - 50 pips depending on the pair I am trading, gbp/jpy gets 50 the rest 20.""
So he sets them only if he isn't going to watch them.
ScottIgnored
DislikedNot sure on that ... Repainting is a big , big issue. Everything looks pretty in past tense. Obviously, nothing can predict future or we would all be rich!..
Still not sure if this is good yet. Over on a 4 hour , under on a 1 hour...
direction is still a tough one.Ignored
DislikedI agree Weezal...
If you come to this thread and then set up the indicators and look back at potential trades it feels like you just stumbled accross a gold mine but until you see this thing live you realize all those trades you see in hindsight prob weren't even there at the time (in realtime).
It's funny to hear the excitement in the posts of newcomers - I felt the same way until I saw this live!
Ive never seen a more useless indicator that is the COG and endroute still wondering when those few hundred pips a day are gonna kick in!
Maybe there is another way to interpret the COG that I just haven't learn't but anyway thats my opinion.Ignored
QuoteDisliked
Cindy, I bagged about 150 pips with this system yesterday.
Yes the COG repaints, but I'm finding it is still a very useful filter. I also flick between a number of timeframes and make sure that a potential signal makes sense in the broader context.
Endroute, thanks heaps for sharing your simple and straightforward system. Good trading to you!
Kind Regards,
Matt.