Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies
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DislikedI don't understand this, Bill. Does he mean if the 20 pips aren't hit one day move it accordingly the next?Ignored
DislikedThanks Bill
As soon as we see a fractal we put a buy/sell stop how far from the current price? I suppose we still decide to place the order based on price patterns and pivot points as normal and not just at random, right?
Sorry for making this sound like 20 questions, just trying to get my mind around this concept.Ignored
DislikedThanks Bill
As soon as we see a fractal we put a buy/sell stop how far from the current price? I suppose we still decide to place the order based on price patterns and pivot points as normal and not just at random, right?
Sorry for making this sound like 20 questions, just trying to get my mind around this concept.Ignored
DislikedSL will remain where it is for the duration of the trade so no trails at this method.
If tp is not hit on next bar, it's set to +20 from the open of the next daily bar exactly the same way as in the previous bar.
There is a reason for both of these but I don't go there at least yet.Ignored
DislikedNo price patterns, no pivots, nothing like that, this is simple.
This is based on something totally different - cumulation of stops at certain levels.Ignored
DislikedMikkom
Is this correct or am I barking up the wrong tree here?
We get the fractal signal on a D1 bar, if it is a SHORT signal, we place the Sell Stop order 1 pip lower than the signal bar. The SL is half of the signal bar and moved accordingly daily. The TP is the next LONG fractal.
Any chance you can post a chart of an entry, SL, TP both a winner and a loser?Ignored
DislikedSo we wait for both a LONG & SHORT fractal and place a SELL STOP & BUY STOP 1 pip above and below each of them, the SL is half way down each setup bar?
You only have 1 SL and not 2 and it is does not seem to have any relationship to the bar the order is on?Ignored
DislikedHang on a sec....If you put a buy stop at the top fractal, are you not actually putting a buy order at a sell fractal?
Sorry, sleep deprivation and my mind is boggling at this.
Certainly picks the wrong time to boggle.Ignored
DislikedIn general I find Mikkom to be a very interesting poster, but this thread ranks very high in the "what on earth is he talking about" dept !
... but I suspect there's gold in them thar' hills...Ignored
DislikedWe are actually, putting a buy order at a sell fractal and a sell order at a buy fractal here, right?
I am sure it is a brilliant idea but, perhaps sleep deprivation is a good companion for this system.Ignored
DislikedIf I did that, I would never really get to understand it.
Also, I am waiting for the London session to start to move.Ignored
DislikedHi Mikkom,
You mentioned if an order hasn't been triggered in 30 days, then cancel it. I'm not sure if it's super important or not, but do you mean 30 trading days, or just 30 calendar days.
Thanks for an interesting system.
BIgnored