DislikedThis is an absolutely fabulous system. I've adapted and adjusted the system of what works for me. I have also been trading a channel system. THere are a couple of things i do which really helps the performance, and like CEO i'm also up signficantly over the past 2 weeks. Very positive this week as well.
Couple of things i do, take 1/2 position at a TP of 120 pips. Bring Stop to Break even. Will do only 3 trades in a day, expect if there is a quick loss on the first couple of bars, i will go to 4 a day.
Put in your order ( i do mine at 23 GMT) with stops, TP, and the Reversal order as well all at the same time. Often that is the only thing that needs to be done until the next day.
So what you're saying is that you set your initial SL to 40, as per the rules, and then don't do anything until and unless it hits +120, at which time you will take half off, and move the other half to BE, which was your original entry price??
So no TP's until +120, no trailing stops, or lock-ins along the way to the +120?
The reason I'm asking is that I have noticed that during the New Zealand and Asian sessions (which starts at 5:00PM EST for me), the GY pair will often move +40-70 pips or so, and then reverse and hit my stop. So you're not taking some of that off until/unless it hits your +120?
Thanks for the clarification. I always learn a lot from your posts.