Cool set. If dis trade only gbpusd why is we need so many screen?
lol...
That was an "off-topic" photo.
You don't think he only trades this system, do you?
If so, for example read his post 2 hours ago.
The bar that triggered the buy stop and stopped us out of the long trade was also a setup bar itself. So what do we do when we have a setup bar and it closes? We move the trade in this case to 5 pips below it.
-Sterling
Just to clarify the short trade ( approx. 4972 level) had a reversal stop out and entry long ( with no new set up bar) which itself was stopped out - the rules state that only one reversal trade is allowed and therefore we shouldn't be short again...should we??....
The rule says you don't reverse a stop&reverse trade (only reverse once, yes);
But that applies until you have a new setup, which, at close, is the bar that triggered the long!
So you should have placed the stop and sell stop bellow it, and be currently in a short.
Imagine if the bar that triggered the long had reversed to its stop - you wouldn't have a sell order there, because of that rule you mention;
But since it didn't, after it's closed, it's a qualified setup bar for a short, so you place the sell stop bellow it.
Am I making sense...
-what I like about this system is that once you get to grips with the relatively simple rules, it is so easy and stress free to trade. It's great to have lots of different market conditions to clarify the rules, and my guess is that after a month or two of monitoring most relatively novice traders could do very well from this. Thanks to sterling and tonirai for the frequent updates and clarifications and great system!.
Tonirai - thanks for the updates, I thought my spreadsheet balance was looking suspiciously healthy - I didn't enter the -141 loser!
