Hi all,
may I discuss my approach to find a strategy that defeats the forex beast...?
Did you ever experimentate with the "strenght-tool"??? I will give it a try- but not as suggested....:
In the "S-Total-C" area this tool shows the strongest and weakest 5 pairs from 28 having collected most of the points of calculation regarding all timeframes, right? But what does this mean? It shows the pairs which are at the top of their rallye up or down. They run best in all timeframes, even 5 and 15 minutes... But that isn`t the point where a smart trader enters a trade, right? Never jump on a running train! This rallye can be interrupted once the trader has jumped in.... So why not looking for pairs which have a certain strenght, logically, but are in a short retracement before taking their rallye up again?
This will save a lot of SL-pips !!! SL may be set much more tight...
To practise this, I will also open the individuell charts of the choosen pairs to confirm the indicators numbers and to decide by brain, if it might be only a retrace or even a change of the direction. I think this may be a save approach to this EA knowing its a bit more work to do. But using the bigger TFs its ok.
Your thoughts are welcome.
may I discuss my approach to find a strategy that defeats the forex beast...?
Did you ever experimentate with the "strenght-tool"??? I will give it a try- but not as suggested....:
In the "S-Total-C" area this tool shows the strongest and weakest 5 pairs from 28 having collected most of the points of calculation regarding all timeframes, right? But what does this mean? It shows the pairs which are at the top of their rallye up or down. They run best in all timeframes, even 5 and 15 minutes... But that isn`t the point where a smart trader enters a trade, right? Never jump on a running train! This rallye can be interrupted once the trader has jumped in.... So why not looking for pairs which have a certain strenght, logically, but are in a short retracement before taking their rallye up again?
This will save a lot of SL-pips !!! SL may be set much more tight...
To practise this, I will also open the individuell charts of the choosen pairs to confirm the indicators numbers and to decide by brain, if it might be only a retrace or even a change of the direction. I think this may be a save approach to this EA knowing its a bit more work to do. But using the bigger TFs its ok.
Your thoughts are welcome.
Have a nice day