DislikedI've just deleted a few of my recent posts guys as I realised that whilst you do need to leave your settings as is for as long as possible, I have done some extensive research into various settings and found mine to be inadequate for the type of trading I'm looking to do which is one trade only CZ's.
I was interested to find out that there are two ways of drastically increasing that trade 1 percentage (tested on GU only using 100 day look back).....and of course various brokers will throw up various results but I have found that:
1) You can...Ignored
Personnaly i use 30 pips x 30 bars on GBPUSD which was not too bad for first trade too. I am not the sole user of this setting.
My thought (and this may not be the case of everyone, don't hesitate to have your own judgment) is that 100 days back doesn't make any sense for me. Why ? Because i think we are talking of price action. And price action is NOW, related to actual news and events, not 100 days back.
How can i prove that ?
My own assessment (but, please, i am not a guru ! this is just a feeling i'd like to share, everybody can make mistakes !) is that since the end of the week of US elections the market has changed his face. Lack of volatility like monday and today (market is ranging between two bounds) is a new behaviour we have to deal with. So SSBO may not work everyday with ease that kind of market.
So, yes, with my settings i had 80% of good first trades between 100 days back and 3 weeks back, but since 3 weeks, i am down to 60% and i don't know what will be next week.
So now i am really disappointed wether it is really usefull to consider big periods in the past or not... I feel this is only an 'indication'.
I am live trading only since 4 weeks but "older" live traders can give us their feedback wether or not the market can return back to the happy days (if they experienced it).
This return of experience would help a lot !