I have been receiving numerous PM regarding the entry. Obviously a lot are being burned not because of trade direction, it’s the drawdown that is killing them and when they closed their trade then it starts to go the positive. This happens because the confidence level in your system is high, so high that we carelessly just jump into the trade without further investigation. This action will definitely get us burned, we come in at the point that the price is about to retrace, this is one explanation. My method is to enter only when there is a retracement from the trend. I am observing the figure given by the ProfitCalcR3 if it is going up or down when it is going against the trend direction given, for the last 15 min. I will wait for the 30 min candle about to end. Say 1:29, 1:59 or around the time, beginning of the candle is also good. Then I jump on the trade in the direction of the trend. I put on the Profit protect EA immediately. I couldn’t say more about entry. I attached here my Pip Tally spreadsheets of my live FXpro which perhaps you can pick up some telltale sign how I enter trade. I have already closed 7 baskets which are winners and I have the 8th going also in positive territory and very little drawdown.
Julius
Julius
Attached File(s)
PipTally10-12-08.xls
181 KB
|
14,930 downloads