i already test this system. i think the system won't work in ranging market. most of the time it hits the SL than TP. I think with 1H timeframe, the 10-20 SL is too small. any response for this. I appreciate for all of the response. thx
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Dislikedi already test this system. i think the system won't work in ranging market. most of the time it hits the SL than TP. I think with 1H timeframe, the 10-20 SL is too small. any response for this. I appreciate for all of the response. thxIgnored
DislikedHi Tony,
I just notice your thread.For the graph below, if lets say you enter a bearish -5 pips on GMT 11, it would result in a loss, due to gmt 12 is a bullish candle. So how you prevent not to ether this kind of trade?
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DislikedHi, The stoploss is just for protection purposes, in event the market suddenly turns a 100 pip against you, you could exit off with a limited loss.
Ideally you should exit if the price moves 5-10 pips against you and accept the tiny loss instead of a big one. There are many more opportunities that will arrive again, so you can try again.
The old saying, cut off the losers and let run the winners.
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DislikedSo then where does that leave you? Searching for the Holy Grail no doubt, wandering from thread to thread until there is literally someone who will trade for you. Good luck Mr Liquidity, the market welcomes traders with your time and effort.
RazorIgnored
DislikedAll I'm saying is i have much better systems that are much more profitable than this one. I only checked this one for the wonderful claims that the first poster made. But after reviewing the charts it didn't hold water. At least not on the usd/jpy. Haven't checked other pairs. It's black and white. ParisIgnored
Dislikedind. - arrows on entry points +(sl/tp lvl)
2RevBarsEntry_arr0Bar_mtf.mq4 - blinker (current close><open condition)
dem, Tony, u shold be fast with this system, demit : )))))))
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p.s. blinker mtf would blink on lover TFs (1,5,etc min) -same exactly as ind. on 1h tf. does (condition -curr Close><Open), - open 1h(60min) bar untill it closes (open bull/bear candle)Ignored
DislikedAll I'm saying is i have much better systems that are much more profitable than this one. I only checked this one for the wonderful claims that the first poster made. But after reviewing the charts it didn't hold water. At least not on the usd/jpy. Haven't checked other pairs. It's black and white. ParisIgnored
DislikedInteresting idea. However, if you look at historical data, the probabilities with hourly bars is the same as with daily bars. The chance the that the next bar is the same direction is a coin flip, with a slightly improved probability going to the expectation that the bar will go the opposite direction.Ignored
DislikedHistorical data - yes when you look at each bar, very few are in the same direction - nothing new there, thats not what this method looks for.
look at the wicks - how many made it past entry plus 10/20pips before changing direction
Momentum/round numbers/fib points/ma - most traders use these and base there trading on things like this, therefore we have wicks - why, because of the buyers/sellers targets for entry and exits, this allows price to move beyond the close of the previous bar - that's why this method has potential
Richard Farleigh...Ignored
Dislikedrelevant to this (and other) threads...
(quick post as must not get caught at the computer on a Sunday afternoon...)...
...thanks for the thread, Tony Two Bars.Ignored
DislikedI'm sure you have something but the original poster stated 99% accuracy with just one bar.
I trade a slight variation based upon reversals and inner bars for the daily timeframe. It has a 61% win/loss over 21 pairs and makes about 1000 pips a month. In live trading real money for two month I've gotten 65% win/loss and 1900 pips in two months. The only indicator is a regression slope.
I started with DIBS which can not be validated in backtesting, but discovered a few things looking at historical data. An inner bar is more likely to reverse...Ignored