Methods for determining when to close your trade | Forex Factory

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Methods for determining when to close your trade

  • #1
  • First Post: Jul 31, 2013 9:50am Jul 31, 2013 9:50am
I've written a prototype EA and the backested with a 1.50 profit factor in the M15 timeframe and 1.25 on the M5 timeframe, but looking at the charts most trades are closed too late and could be way more profitable.
If anyone would like to share their method of closing the trade I'd really appreciate that.
  • #2
  • Aug 2, 2013 1:12am Aug 2, 2013 1:12am
We also use higher time frames like 4h. Why not share your details here, let start with yours...
  • #3
  • Aug 2, 2013 1:36am Aug 2, 2013 1:36am
Well, my method is not as sophisticated - defining money amount I "can afford to loose" and closely watching the chart.

The case: my deposit is one thousand dollar. My border of loss is 25 $ from one position. Under my lottage and leverage, 1 pip will cost me 50 cents.
Thus, Stop must be put for 50 pips above my start price.
  • #4
  • Aug 2, 2013 2:28am Aug 2, 2013 2:28am
Quoting Red Herring
We also use higher time frames like 4h. Why not share your details here, let start with yours...
who is we?
  • #5
  • Aug 2, 2013 3:28am Aug 2, 2013 3:28am
when p or l target for the day is reached

Quoting paypascal
I've written a prototype EA and the backested with a 1.50 profit factor in the M15 timeframe and 1.25 on the M5 timeframe, but looking at the charts most trades are closed too late and could be way more profitable. If anyone would like to share their method of closing the trade I'd really appreciate that.
  • #6
  • Last Post: Aug 5, 2013 10:32am Aug 5, 2013 10:32am
Quoting MaxDoom
{quote} who is we?
Ok excluding you and some other...
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