If there is anyone who has question regarding this kind of analysis and strategy I would kindly ask him to do it. I am not sure if I have covered all the rules and issues regarding this system.
I've just remembered one, he-he:
Let's say I had a negative trade, like it just happened in USD/CAD, before current open trade (you can find it on the history of the second trade explorer, at the top of this topic. The S/L was nearly 180 pips. The next trade, the one is currently open, has to target a much larger number of pips. This one is targeting 252.7 pips (127.2 Fibonacci extension...) but it could happen to not cover the last loss. In this particular case if the 127.2 Fibonacci extension doesn't cover the past pair's loss, the target would be increased: 141.4 or 161.8 and so on, you get the idea.
USD/CAD's last loss trade and the current trade t/p covering the loss if it's hit
Also, as a rule, if I had losses on, let's say GBP/USD and USD/JPY, one for each pair, I will try not to trade other pairs, untill the losses are covered with the pairs future profits, so waiting it's one of the main things for this system.
And as a target, 50 pips would a minimum accepted if I target the top (in the long trades) and bottom (in the short trades) if the distance is less, the future t/p would be 127.2 Fibonacci extensions.
Also, I know that I wrote in some posts 121.7 level instead of 127.2 level Fibonacci exntesion for the t/p (121.7 doesn't even exists), I don't know why I said that - I guess was a thing on unintended lack of attention, the targets were hit, anyway, where the situations with profits has occured.
In case of neutral action of price, you don't have to do anything, you just have to wait for price to go either in the upside bias and downside bias and wait for confirmation. After dedicating so much time studying it, I came to the conclusion that is not suitable for a specific constant set of rules, the profit is not constant because of the chaotic moves and so my false break-outs - I've decided that will not be used in current trading and neither of you should not be using it, too.
I guess that is all, if I will remember anything else, I'll post it later on.
Best regards, folks
Andrei
I've just remembered one, he-he:
Let's say I had a negative trade, like it just happened in USD/CAD, before current open trade (you can find it on the history of the second trade explorer, at the top of this topic. The S/L was nearly 180 pips. The next trade, the one is currently open, has to target a much larger number of pips. This one is targeting 252.7 pips (127.2 Fibonacci extension...) but it could happen to not cover the last loss. In this particular case if the 127.2 Fibonacci extension doesn't cover the past pair's loss, the target would be increased: 141.4 or 161.8 and so on, you get the idea.
USD/CAD's last loss trade and the current trade t/p covering the loss if it's hit
Also, as a rule, if I had losses on, let's say GBP/USD and USD/JPY, one for each pair, I will try not to trade other pairs, untill the losses are covered with the pairs future profits, so waiting it's one of the main things for this system.
And as a target, 50 pips would a minimum accepted if I target the top (in the long trades) and bottom (in the short trades) if the distance is less, the future t/p would be 127.2 Fibonacci extensions.
Also, I know that I wrote in some posts 121.7 level instead of 127.2 level Fibonacci exntesion for the t/p (121.7 doesn't even exists), I don't know why I said that - I guess was a thing on unintended lack of attention, the targets were hit, anyway, where the situations with profits has occured.
In case of neutral action of price, you don't have to do anything, you just have to wait for price to go either in the upside bias and downside bias and wait for confirmation. After dedicating so much time studying it, I came to the conclusion that is not suitable for a specific constant set of rules, the profit is not constant because of the chaotic moves and so my false break-outs - I've decided that will not be used in current trading and neither of you should not be using it, too.
I guess that is all, if I will remember anything else, I'll post it later on.
Best regards, folks
Andrei
