Dislikedhi,
Can someone explain to me those 3 trailing stop functions, the ea has?
thank you allIgnored
It was mentioned that this system tends to catch some reversal from the european session. I agree with this, many times this system allows a trader to catch the end of the previous session, right about the time the market is going to reverse. Many times when I have closed half and taken my 20 so pips off, and left the remaining half run . . . they get stopped out at B/E on a reversal. This is something I wrestle with, to close it all and take what I can, or close half . . . move the stop to B/E and hope for the best. Some times it works, some times not.
Today for instance, I closed half for +36, saw the market getting ready to reverse (5m, 15m, 1hr stoch's in overbought area), chickened out and closed the other half at +35. Should I have stayed in at this time of writing, price is down -30 from the point at which I took profit.
My opinion only, but I think this system is best for someone who can monitor their trades . . . cause the reversal can be swift, taking out whatever quick gain you made. I am usually out of the market within 3 hours of my initial order placement. Today, I was out within an hour and 45 miniutes. I feel that if you can not monitor and get out if the market "looks" like it might reverse, a higher time-frame might be best. Maybe a 1 or 4 hour breakout.
Also if you are watching and it looks like you can catch a quick reversal, you might as well . . . but then . . . this can be risky too.
Day:
.2 lots +36
Week:
+60
Month:
+170