I am also testing 00.00 NY midnight which I think is what was on the original example. It looks like even better results. I am also trying 15tp and 15sl.
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You'll find that playing with the TP and SL won't make any difference.
It may change the win rate, but it won't change the profit made or lost.
Actually I believe it will make quite a difference. Under the present rules the stop loss will probably be over 30 pips (the length of the candle plus 10 pips on each side plus the additional distance to the candle close). The TP meanwhile is only 10 pips. That means that you would have to probably win over 80% just to break even.
why sydney open as base? for example why not london open ? regards fred
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This system has been videoed by Josh .... (Oh, dear forgotten the name) anyway it uses the hour before opening plus 10 pips as a set-up then four hours of watching for the 'big' movement in the UK or US opening. Maybe there is a useful movement after the Sydney open!
Martinez was the name. Probably available on YouTube.
By the way, add 5 pips to the 'other end' as a stop loss when the trade is made.
Actually I believe it will make quite a difference. Under the present rules the stop loss will probably be over 30 pips (the length of the candle plus 10 pips on each side plus the additional distance to the candle close). The TP meanwhile is only 10 pips. That means that you would have to probably win over 80% just to break even.
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Whatever profit or loss you get with the present SL/TP settings, you will get the same with any other settings. The win/loss will change, but the profit/loss will be the same.
You will probably wind up with an overall Break even - the spread per trade.
