Most common reaction? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

fibonacci levels - reaction and no reaction 9 replies

Need Help with FileMove from Common Folder to Common Folder 3 replies

Do the most common (widely used) brokers supports trading with MT4 Mobile SE? 0 replies

What is common among most trading systems posted here? 2 replies

most common reasons for wins or losses 17 replies

Most common reaction?

  • #1
  • First Post: Jan 15, 2010 6:05pm Jan 15, 2010 6:05pm
First let me say this a a great forum and thanks to everyone that makes it so.

I am working on a EA. My question is very simple . Which one would you say has the higher probably in the Forex market.
Though the question is simple the answer can be quite profound. I am hoping that traders that trade all the time can tell me they see one or the other more.

1. 40 pip retraction

2. 20 pip retraction.
Thanks
Randy
One good turn gets most of the blankets.
  • #2
  • Jan 16, 2010 7:11am Jan 16, 2010 7:11am
:/ which currency pair?? Market is so dynamic hard to answer, but for EU maybe 20-30? lol
  • #3
  • Jan 16, 2010 10:07am Jan 16, 2010 10:07am
Quoting randy1953
First let me say this a a great forum and thanks to everyone that makes it so.

I am working on a EA. My question is very simple . Which one would you say has the higher probably in the Forex market.
Though the question is simple the answer can be quite profound. I am hoping that traders that trade all the time can tell me they see one or the other more.

1. 40 pip retraction

2. 20 pip retraction.
Thanks
Randy

??? isn't it obviously 20pips...every 40 pip "retraction" begins with a 20pip one no? ....i'm sorry if i'm missing the point of your question but its structured similar to this - "is it easier to find a tiger or a female tiger in the jungle?"
  • #4
  • Jan 16, 2010 11:05pm Jan 16, 2010 11:05pm
I'm a bit confused on the question. Can you please refer us a a clearer question? Did you mean retracement?
  • #5
  • Jan 17, 2010 7:16am Jan 17, 2010 7:16am
I see it does look confusing. This will help I think it is the reason for my question.

I want to build a new EA
We start with a good trend indicator and our starting lot size is .1 now it waits until it gets the trend signal and it opens the trade with the trend. We have a TP at 20 pips so we make $100 if it goes straight to the TP. Now if it goes against the trend from the get go more than 5 pips we have the martingale system that takes over . If the trade goes against the trend less than 5 pips nothing happens. If it goes in direction of the trend we have a trailing SL. so with the trend we make money the easy way never a loss and against the trend we make money the harder way with the martingale. Now when the martingale is engage it stays that way until we hit the TP which is at 20 pips. When it's finished in profit it cycles back to where it was when we turned it on looking for a trend again.
I do have have some good ideas on how to lower the risk with the martingale.

PS most martingales have the TP around 40 pips which I feel is to far to hit soon enough to close the trades my ida is to increase the lot size to cover the open trades that are in loss and make a profit but do this with only a 20 pip retraction.
Randy






Quoting hijackxx
I'm a bit confused on the question. Can you please refer us a a clearer question? Did you mean retracement?
One good turn gets most of the blankets.
  • #6
  • Last Post: Jan 17, 2010 1:33pm Jan 17, 2010 1:33pm
trade this and your account will go boom.
0 traders viewing now