Why didn't you trade in theese areas?
Thank you!
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DislikedHi laodeabdul
As for StopLoss maybe you could try ATR (20), I also trading using 4 hrs chart and been using ATR (20) for defining my stoploss, it seems to be working well for me.Ignored
DislikedAs for me, I always having trouble on taking profits, can you explain how you take profits with this system. maybe i can apply it to my method.Ignored
DislikedHi,
I am backtesting this system and forward testing, I can see that the system needs you to let your profits run to catch some of the huge moves that are made every month to make sure your wins outway your losses.
I have attached a trade i opend on cable, I got in 6 pips late as i only saw it when i got up this morning.
laodeabdul, I personally dont like splitting my position because it really reduces your r-r ratio, however I was wondering at what point do you move your position to break even and and on which pairs as they have different volatility?
For example once my Cable trade is in profit by 50 pips i will move stop to break even, i think that gives it enough room.
Let me knwo what you think and if you took this trade, i exspect you take every trade.
could you also please answer my previous question on how many pairs you trade with this and if any are worth avoiding.
thanks
-S-Ignored
DislikedI think a possibe filter for fake moves down or up would be to check the MACD hystogram level before entering. Say, if it doesnt go over 0.10 you dont enter a buy trade even if the price is above the SMA.
Also, for TP, when MACD hystogram exceeds 0.30 for example, you consider exiting because it is gone too far already and MACD will start to round.
I think a good idea would be to combine this strategy with Phillips 4 h strategy.Ignored