Hello Mister Ed, hello fellow traders
I was doing some research on Heiken Ashi and stumbled cross this thread. Your system somehow took my attention and I spent the past few hours paper trading the UJ pair according to the rules you have outlined.
Amazing The simplicity makes this already a winner IMO. I really like the fact of watching just two indicators instead a whole army. It keeps the chart clean and tidy
To catch the big moves I'd suggest to work with partial profit taking and a good strategy of trailing stops, like you have outlined in your manual.
I have found that moving to BE after TP1 works in 99.999% of the case.
I had some instances where the SL based on the ATR value was not large enough and I got stopped out. After further investigation I found that PA climbed to a near S/R or the dailiy pivot line before it retraced into positive territory. Since the SL was below that level I got hit too early. These levels should be definitily taken into consideration when setting the initial SL. If it's near a S/R line, the SL should be on the otherside for an extra 10 pips or so.
Since I work mainly the THV system - which is by the way a masterpiece of work - I have (just to be curious) attached the Trix indicator to the chart. It seems that when the Trix indicator goes into the O/B-O/S area it's time to close the trade and reap the harvest. It'll give some extra gravy pips before it hits the SL.
Keep it up Mister Ed
AZBOfin
I was doing some research on Heiken Ashi and stumbled cross this thread. Your system somehow took my attention and I spent the past few hours paper trading the UJ pair according to the rules you have outlined.
Amazing The simplicity makes this already a winner IMO. I really like the fact of watching just two indicators instead a whole army. It keeps the chart clean and tidy
To catch the big moves I'd suggest to work with partial profit taking and a good strategy of trailing stops, like you have outlined in your manual.
I have found that moving to BE after TP1 works in 99.999% of the case.
I had some instances where the SL based on the ATR value was not large enough and I got stopped out. After further investigation I found that PA climbed to a near S/R or the dailiy pivot line before it retraced into positive territory. Since the SL was below that level I got hit too early. These levels should be definitily taken into consideration when setting the initial SL. If it's near a S/R line, the SL should be on the otherside for an extra 10 pips or so.
Since I work mainly the THV system - which is by the way a masterpiece of work - I have (just to be curious) attached the Trix indicator to the chart. It seems that when the Trix indicator goes into the O/B-O/S area it's time to close the trade and reap the harvest. It'll give some extra gravy pips before it hits the SL.
Keep it up Mister Ed
AZBOfin