You not have mid pivot. I also look at last yellow semaphore there.
hindsight so easy to see ways for not taking a loser
- #1,661
- Nov 17, 2011 4:58am Nov 17, 2011 4:58am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
hindsight so easy to see ways for not taking a loser
- #1,662
- Nov 17, 2011 5:00am Nov 17, 2011 5:00am
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last
yes nice to see a nice big yellow semafor, but that was not there until a little after it broke
and if you look bigger you see weekly R2 there
- #1,665
- Nov 17, 2011 5:04am Nov 17, 2011 5:04am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
not current but that on the left
but if we look at it this way, then it might as wel be a discretionary system with naked charts and just semafors.
- #1,667
- Nov 17, 2011 5:05am Nov 17, 2011 5:05am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
A lot of times there is no follow through, therefore i stick to my 10 pips
Udine
The system will only give 1-3 setups during LDN and NY because it has a 240M entry trigger. Even dropping the hit rate to 75/80 % and targeting 20-30 pips/trade will make it a profitable strategy.
In the end every trader must trade within his/her comfort zone , it is your money and your risk
(and your finger on the trigger)
" Never let the past hold the future to ransom "
- #1,668
- Nov 17, 2011 5:05am Nov 17, 2011 5:05am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
- #1,669
- Nov 17, 2011 5:05am Nov 17, 2011 5:05am
- Joined Mar 2011 | Status: Trader | 1,886 Posts
I'll try another broker
everyday there's something to learn
thanks Udine
- #1,673
- Nov 17, 2011 5:18am Nov 17, 2011 5:18am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
- #1,676
- Nov 17, 2011 5:19am Nov 17, 2011 5:19am
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sure....lots of times it runs for a lot more than 10 pips as well
The system will only give 1-3 setups during LDN and NY because it has a 240M entry trigger. Even dropping the hit rate to 75/80 % and targeting 20-30 pips/trade will make it a profitable strategy.
In the end every trader must trade within his/her comfort zone , it is your money and your risk
Correct.
Udine
Sleep less, live fast, as it aint gonna last
- #1,678
- Nov 17, 2011 5:20am Nov 17, 2011 5:20am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
Pivots:
Use GMT time (0)
DPP and S1/R1 are the ones I pay attention to.
Look at EU chart of today as an example
Brokers:
1) Find one for trading (or charting) that open/close the 240M candle @ 08H00 GMT ( LDN open) Trading activities pick up then and you don`t want to trade a 240M strategy with a set of charts that are busy rolling over at that time.
2) Run a second MT4 platform with different broker time for 240M candle open/close and compare signals
3) Split your trades in half and trade first and/or second signals
Thanks for the opportunity of trading with you, the strategy is definitely profitable but the RR ratio is a potential drawback.
For inexperienced traders the experience of seeing a lot of small wins being wiped out by only a few full stop-outs (20 pips) , will be a demoralizing experience.
I would use the signals( non-repainting now it seems) to do visual backtest and look at individual trades and get a handle on drawdown as well as potential gain per trade to build my own MM model. Use a simple spreadsheet for that.
Good luck with your trading and lots of green pips to you
Use GMT time (0)
DPP and S1/R1 are the ones I pay attention to.
Look at EU chart of today as an example
Brokers:
1) Find one for trading (or charting) that open/close the 240M candle @ 08H00 GMT ( LDN open) Trading activities pick up then and you don`t want to trade a 240M strategy with a set of charts that are busy rolling over at that time.
2) Run a second MT4 platform with different broker time for 240M candle open/close and compare signals
3) Split your trades in half and trade first and/or second signals
Thanks for the opportunity of trading with you, the strategy is definitely profitable but the RR ratio is a potential drawback.
For inexperienced traders the experience of seeing a lot of small wins being wiped out by only a few full stop-outs (20 pips) , will be a demoralizing experience.
I would use the signals( non-repainting now it seems) to do visual backtest and look at individual trades and get a handle on drawdown as well as potential gain per trade to build my own MM model. Use a simple spreadsheet for that.
Good luck with your trading and lots of green pips to you
" Never let the past hold the future to ransom "
There is no point to trying a different broker, next time you could get the signal earlier. I would say though, first trade on EU pivot was too close, GU first trade was right on the pivot and red news which is on your chart, second trade didn't break the low of the signal candle.
- #1,680
- Nov 17, 2011 5:32am Nov 17, 2011 5:32am
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last