Disliked{quote} Thanks so much for your feedback and teachings! I used the EA last week for one basket trade on the 30M timeframe - it was profitable with very low DD as it almost went immediately into profit. I opened the trade the candle after the HAS cross. On the 1HR TF - what sort of TP and SL is ideal? 100 pips SL and TP or just ride it out until the IOX1 or IOX2 cross?Ignored
I don't use the IXOs as they need to be adjusted for each basket, the fewer indicators used the better off.
Plain chart with support/resistance and trend lines works the best.
Once into a trade and if it turns into a trend you can add the trend line so if it reverses and breaks through the trend line in the opposite direction the trade will be closed.
By using the TP, TSL, and trend line once into a trade, you can than walk away and keep your emotions out of the trade
Risk to Reward of 1 to 2 or greater is also something to keep an eye on.
Once into a trade and if you are using the BT EA, you can always move the TP and SL around once you see what is happening, if a good trend starts just keep moving the TP up and set the SL to trail. That's one thing nice about the longer time frames, you don't need to check on them or watch the trade like you do on the lower TFs.
Also, always check for upcoming news so you don't get caught by a quick reversal.
