Hi TraderHotch! I made a flowchart today.
Results for this week for now:
9 wins, 4 losses
6 wins, 9 losses
11 wins, 3 losses
7 wins and 3 losses for today, we still have this Friday to go.
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Cheers! Thought it was more complex then that, will code it up & run it next week.
Hi Koellefornia,
I am assuming your EA is going to work according to the technique in this thread with all the rules like 3 candles rule on pending order, one trade at a time ect.
After we figure out whats wrong with it and hopefully you fix it can you also add one more option which is money management option one - 2% risk on every trade like in original method and money management option two - which is:
Lot size eq risk 1% on any trade initially (not 2%)
1.
if previous trade is loss, in the next trade increase lot size so that percentage...
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Hi Lizu! I like your ideias, I guess they worth a try. As for the 2nd question, if I can set my sl I use a mental one and if I canīt place my pending order I wait for the price to go either above or bellow the correct price and return, then I place a market order.
results for friday; 6 wins and 4 losses. Have a nice weekend!
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Next trade at 9:05, because the bar from 9:00 has a lower High and lower Low than 8:55, so i get into the trade earlier. Why you dont take the trade at 9:05?
results for friday; 6 wins and 4 losses. Have a nice weekend!
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I also get the Trades #4,5,6,7
But @14:40 there are differences.
I take the trade @14:40 too, but i closed it a bar later than you..
Open @1,4269 (1,4267+2 Pips Spread), TP @ 1,4275 (4 Pips range (signal bar)).
So the EA closed the trade @14:45 and didnt get your big winner @14:55, but he creates 2 losses, which you didn't get, because you were still in a trade...
Perhaps my spread is too high for your trading system..
Hi Koellefornia,
I am assuming your EA is going to work according to the technique in this thread with all the rules like 3 candles rule on pending order, one trade at a time ect.
After we figure out whats wrong with it and hopefully you fix it can you also add one more option which is money management option one - 2% risk on every trade like in original method and money management option two - which is:
Lot size eq risk 1% on any trade initially (not 2%)
1.
if previous trade is loss, in the next trade increase lot size so that percentage...
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HI lizu,
this system works fine for a while, but the day will come, where you get more and more losses without a winner.. This strategy will burn your account...
But if you like this kind of trading, look for other systems like "blessing"..
this system works fine for a while, but the day will come, where you get more and more losses without a winner.. This strategy will burn your account...
But if you like this kind of trading, look for other systems like "blessing"..
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Can you post your working EA once again and mq4 file as well ? I am not sure why but its not working for me at all.
Regarding adding to the loosing position i think this system is pretty automatic and probability of success is not worse than 50%. I never tried this type of money management on other systems but this one seems to fit. Also i would put some rules regarding winners. I noticed also that difference between winners and losers is about 2 - 4 so if I have 4 winners I stop trading this day.
Hi Lizu! I like your ideias, I guess they worth a try. As for the 2nd question, if I can set my sl I use a mental one and if I canīt place my pending order I wait for the price to go either above or bellow the correct price and return, then I place a market order.
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Can you tell what was your maximum draw down and maximum loosing string ?
this system works fine for a while, but the day will come, where you get more and more losses without a winner.. This strategy will burn your account...
But if you like this kind of trading, look for other systems like "blessing"..
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This is not meant to be confrontational.
I would agree that tf traded in isolation yes it will, however if you factor in the need to look at S&R levels, Reversal Bars, CandleStick Patterns,News, Proper Risk Management etc etc then it becomes immensely profitable.
Eg. The daily range is nearing....why bother to take a signal? Volatility is low....why bother to take signals?.... Or a falling wedge pattern occurring why trade against it. Or price has rejected a certain level several times, do we take the signal?....We are seeing HH and HL, do we still go short? The price is range bound, is the expected TP giving a decent RR?
The problems with most EA's is that they never take these factors into considering.... when trading manually, an experience trader would take these facts when a decision.
My take on this would be to use the EA to provide alerts(as per the base methodolgy by 0002097) then manually evaluate the need to enter.....running the EA on several pairs will give you lots of opportunities for entry and you can take those that are the lowest risk.
