DislikedEMA c/o happened , price pulled back to touch 21 EMA, now started going up in long direction. if the current bar closes above 21 EMA and MACD turns green, we can enter LONG
Is that true ?
thanks a lot for the great videoIgnored
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DislikedEMA c/o happened , price pulled back to touch 21 EMA, now started going up in long direction. if the current bar closes above 21 EMA and MACD turns green, we can enter LONG
Is that true ?
thanks a lot for the great videoIgnored
DislikedI just had a brainwave, on the discussion of subsequent retracements to the 21 EMA then continuing with the initial trend...
This could be a signal to get in again or add more trades.Ignored
DislikedCorrect, as soon as the 21 EMA crosses over the 89 SMA signaling a change in the direction of the trend (and the 4H candle closes), then I exit.Ignored
Dislikedi dont want to confuse this simple strategy. what you are saying is we can add one more lot if it retarces and touches 21 EMA and continue the original trend ? so we could have one add per each such occurance. but at any time, all prev trades must be in profit or closed in profitIgnored
DislikedNot a bad idea - adding to a position at each retracement/trend continue. However, this would definitely complicate trade management and throw off money management.
The questions I would ask would be 1) what is the max number of position increases one would take?, 2) what would the SL/TP be for each additional position?, 3) what is the max cumulative risk of all positions in one specific direction?Ignored
DislikedNot a bad idea - adding to a position at each retracement/trend continue. However, this would definitely complicate trade management and throw off money management.
The questions I would ask would be 1) what is the max number of position increases one would take?, 2) what would the SL/TP be for each additional position?, 3) what is the max cumulative risk of all positions in one specific direction?Ignored
Dislikedhi
iam unable to download the MACD indicator. is there a fault with the link ?
from your test / results, which is the best pair to trade with this system ?
i think the best way to find out if adding to trades will work is to do a backtest. i personally feel that adding to trades will significantly reduce your profit levels and as such render your present system invalid. but backtest is the best way to find out. in a trending market adding to trades might work. but we all know the major pairs are unpredictable...Ignored
DislikedHi,
I also don’t have the time to look over charts all day and so your method is very appealing to me. Your trade/system explanations are excellent and this really helps with the understanding. Thanks for sharing.
[color=black][font=Verdana]On the subject of trade management, have you ever used the MPTM EA by Steve Hopwood?...Ignored
Dislikedcoming from money management concepts only....
1. add should be only when we are in profit
2. no more than 3 adds (including original trade)
3. add trade will have same SL/TP concept as original.
for this system, i would consider add only when the current trade is closed in profit. its like a new trade with same entry/exit criteria. but if your backtest results prove that only the first cross gives good profitability, not the subsequent crosses then we can remove this idea
has anyone tried this on H1 ? sometimes H4 is too slowIgnored
DislikedNot a bad idea - adding to a position at each retracement/trend continue. However, this would definitely complicate trade management and throw off money management.
The questions I would ask would be 1) what is the max number of position increases one would take?, 2) what would the SL/TP be for each additional position?, 3) what is the max cumulative risk of all positions in one specific direction?Ignored
DislikedHmmm...not sure why the link didn't work for you. I just tried it and it downloaded. Give it another try. It may be that FF's servers were having a problem when you tried the first time.
I also tend to agree with you on adding to a position but for different reasons. It may well be more profitable but since my primary objective is to not have to micro-manage my trades, adding that additional layer would be counter to my trade objectives.Ignored
DislikedLooks like we might have a trade for usd/cad coming up...as long as it closes below 21ema....macd is already red....so in a few hours at least for me i might pull the trigger.Ignored