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  • #181
  • Sep 18, 2014 9:26am Sep 18, 2014 9:26am
NYO level 1 trade hit TP.
Love for all; Hatred for none.
  • #182
  • Sep 19, 2014 9:49am Sep 19, 2014 9:49am
It depends upon broker but my NYO level1 trade hit TP.
Love for all; Hatred for none.
  • #183
  • Sep 19, 2014 10:32am Sep 19, 2014 10:32am
Just to be sure, you check at the 5min chart what the candle is between 8:00 and 8:05.
Is it a Bearish you open at 8:05 a Long, if it is a Bullish you open a Short at 8:05?
  • #184
  • Edited 11:01am Sep 20, 2014 10:40am | Edited 11:01am
Hello to all!

Can someone, please, tell me how often 3th SL has been hit and 4th trade was succesful during the backtesting?
I just think that it would be far better in the long run to use the limit of 3 SLs instead of 4 per day. Of course, if a third trade doesn't hit SL too often.

Thanks in advance!

Best regards,
Artem
Let's go with the flow
  • #185
  • Sep 21, 2014 3:03am Sep 21, 2014 3:03am
Quoting fabje
Just to be sure, you check at the 5min chart what the candle is between 8:00 and 8:05. Is it a Bearish you open at 8:05 a Long, if it is a Bullish you open a Short at 8:05?
I didn't get a chance to read the whole thread but if I'm not mistaken the first trade is opened using the 7.55-8.00 candle , in the same direction.
I hope this helps.
B777
  • #186
  • Sep 23, 2014 8:57am Sep 23, 2014 8:57am
Quoting B777
{quote} I didn't get a chance to read the whole thread but if I'm not mistaken the first trade is opened using the 7.55-8.00 candle , in the same direction. I hope this helps.
yes
Love for all; Hatred for none.
  • #187
  • Sep 23, 2014 9:12am Sep 23, 2014 9:12am
Quoting fabje
Just to be sure, you check at the 5min chart what the candle is between 8:00 and 8:05. Is it a Bearish you open at 8:05 a Long, if it is a Bullish you open a Short at 8:05?
I wanted to answer this question because many traders have asked me via PM. Traders can use any one option (A) 7:55-08:00 (B) 08:00-08:05 because this is probability game strategy. We use only M5 chart and M5 candle is not really representing the trend and we are not looking at trend. For 10 pips move, trend does not work. So M5 candle is just to find PA.

Now if i take example from today's trade. NYO: Option A is giving me buy candle so level 2 trade hit TP. Option B is giving me sell candle and it is giving me level 1 trade. you can choose any option.

Regards
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Love for all; Hatred for none.
  • #188
  • Sep 23, 2014 9:34am Sep 23, 2014 9:34am
Quoting aahmad29
{quote} I wanted to answer this question because many traders have asked me via PM. Traders can use any one option (A) 7:55-08:00 (B) 08:00-08:05 because this is probability game strategy. We use only M5 chart and M5 candle is not really representing the trend and we are not looking at trend. For 10 pips move, trend does not work. So M5 candle is just to find PA. Now if i take example from today's trade. NYO: Option A is giving me buy candle so level 2 trade hit TP. Option B is giving me sell candle and it is giving me level 1 trade. you can choose...

Hi,

This strategy is very interesting! Thank you for sharing!

But will you stop the martingale after 3rd order failed? or 4th or 5th order?

I do think this is a good strategy! Do you also use other things to confirm the entry or just purely depend on the NY open M5 candle?

Thanks!
  • #189
  • Sep 23, 2014 10:14am Sep 23, 2014 10:14am
Quoting wongsiio
{quote} Hi, This strategy is very interesting! Thank you for sharing! But will you stop the martingale after 3rd order failed? or 4th or 5th order? I do think this is a good strategy! Do you also use other things to confirm the entry or just purely depend on the NY open M5 candle? Thanks!
I use NYO due to good PA. I take trades upto 5 max. but use this strategy very wisely and you must have good money management.
Love for all; Hatred for none.
  • #190
  • Sep 24, 2014 8:00am Sep 24, 2014 8:00am
Quoting aahmad29
{quote} I use NYO due to good PA. I take trades upto 5 max. but use this strategy very wisely and you must have good money management.
Like you said must have good money management, would u mind tell how much % u risk per trade? do you suggestion we use a small portion to trade so that even after 5 max order the account still survive?

Thanks!
  • #191
  • Sep 24, 2014 3:31pm Sep 24, 2014 3:31pm
Quoting wongsiio
{quote} Like you said must have good money management, would u mind tell how much % u risk per trade? do you suggestion we use a small portion to trade so that even after 5 max order the account still survive? Thanks!
For me, i use $1000=0.01 lot
Love for all; Hatred for none.
  • #192
  • Sep 24, 2014 3:32pm Sep 24, 2014 3:32pm
Today NYO, level 2 trade hit TP
Love for all; Hatred for none.
  • #193
  • Sep 25, 2014 7:31am Sep 25, 2014 7:31am
which pair you trade with this strat? just EUR/USD?
  • #194
  • Sep 25, 2014 9:15am Sep 25, 2014 9:15am
Quoting wongsiio
which pair you trade with this strat? just EUR/USD?
I'm testing it at EURUSD.

Oh and just NYO, level 1 trade hit TP
  • #195
  • Sep 25, 2014 7:21pm Sep 25, 2014 7:21pm
Quoting wongsiio
which pair you trade with this strat? just EUR/USD?
yes because of high volatility and low spread but you can test it on USD/JPY. Let us know what are the results on UJ pair.
Love for all; Hatred for none.
  • #196
  • Sep 26, 2014 10:46am Sep 26, 2014 10:46am
NYO Level 1 trade hit TP
Love for all; Hatred for none.
  • #197
  • Sep 29, 2014 9:07pm Sep 29, 2014 9:07pm
NYO Level 1 trade hit TP
Love for all; Hatred for none.
  • #198
  • Oct 1, 2014 3:54pm Oct 1, 2014 3:54pm
My job is done to present a strategy to traders so now i am not posting anything here. If anybody wants to modify this then bring some forward testing and it would help others.

I am not answering the PM.

Thanks.
Love for all; Hatred for none.
  • #199
  • Oct 2, 2014 4:31am Oct 2, 2014 4:31am
Quoting aahmad29
My job is done to present a strategy to traders so now i am not posting anything here. If anybody wants to modify this then bring some forward testing and it would help others. I am not answering the PM. Thanks.
aahmad29,

Thank you very much for this simple and straight forward strategy.
  • #200
  • Oct 2, 2014 8:47am Oct 2, 2014 8:47am
Thanks Aasmad29 for this awesome thread. I have been performing some backtesting on the strategy back to January 2014 to see the benefits of conceding a daily loss after 2 and 3 misdirections. I should have my findings up in the next day or two. Based on what I have seen, it the results look positive.
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