DislikedWell, work prevented me from making my trade this morning, but I would have been stopped out for -16.7 pips in case anyone is following.Ignored
7am-9am Big Dog USD Breakout Strategy
- #1,269
- May 25, 2009 11:46am May 25, 2009 11:46am
1st trade following this rule:
I am not sure today is a good day to test this strategy or to trade in general since it is a bank holiday for both the GBP and USD.
Memorial day here in the USA.
But there is always tomorrow!
Lucas,
I'm observing your trading method/rules with curiosity
.
Got some questions & would appreciate your replies.
1) When or at what time do you remove your pending orders if they are not triggered?
2) If for example, long orders are triggered, do you remove short orders or just leave them there until the long TPs are hit?
3) Reg. MM: How do you allocate your risk capital to your trades? For example, if you are risking 2% of your total account capital, do you allocate 1% for the long orders and 1% for short orders?
4) Do you take trades if the size of the box is greater than like 50 pips or something like that (for E/$)?
Thanks
I'm observing your trading method/rules with curiosity
.Got some questions & would appreciate your replies.
1) When or at what time do you remove your pending orders if they are not triggered?
2) If for example, long orders are triggered, do you remove short orders or just leave them there until the long TPs are hit?
3) Reg. MM: How do you allocate your risk capital to your trades? For example, if you are risking 2% of your total account capital, do you allocate 1% for the long orders and 1% for short orders?
4) Do you take trades if the size of the box is greater than like 50 pips or something like that (for E/$)?
Thanks
Lucas,
I'm observing your trading method/rules with curiosity
Got some questions & would appreciate your replies.
1) When or at what time do you remove your pending orders if they are not triggered?
2) If for example, long orders are triggered, do you remove short orders or just leave them there until the long TPs are hit?
3) Reg. MM: How do you allocate your risk capital to your trades? For example, if you are risking 2% of your total account capital, do you allocate 1% for the long orders and 1% for short orders?
4) Do you take...
1. If none of my pending orders are triggered, then I remove them somewhere between 5 and 6 ET. I let them run that long because in my backtest, there were some scattered days where it would take that long to breakout, but it would still trigger and move the right direction.
2. I remove the Shorts if the Longs are hit and vice versa, so as soon as my long gets hit, the shorts are removed.
3. Since I remove them as in the previous answer, I risk 2-3% on long and 2-3% on short because I do delete the pending orders for the opposite direction.
4. Yes. So far, I have had enough success with backtesting that even if the box is greater than 50 pips, I will still set the orders. One thing that helps with that is moving the stop to even after the first TP is hit (such as today).
Hope that answers all of your questions. If not, let me know. =)
