"Average number of entries based on only the past 3 days = [2 + 3 + 3 + 4 + 4]/5 = 3.2 = 3 (rounded)" somebody gotta send me back to school. i could have sworn you'd divide by 3, not 5, leading to an average of 5 trade a day, not three. frankly, i still think you should divide by 3.
Mastermind, I have read all your posts here and some on other threads. I have respect for you as a trader. In your example of 3% risk with size of .03 x 3 entries (30 pip SL), what would you do if additional entries are signaled before TP or SL are hit?
{quote} Do not exceed your risk% which means you take 3 entries and no more for that cycle of trades ....... Masterrmind.............
(due to having replaced my prefrontal cortex with a screen door)
{quote} ++++++++++++++++++++++++++++++++ I would be tempted to close the trade if price seemed stalled at this point. I would also take into account, how late in the session I was. Very early on, I would probably hold on longer than I would, later in the session, so as not to get stuck in a trade going the wrong way.
{quote} ++++++++++++++++++++++++++++++++ 1. During the 1st 4 hours or so of the trading window over the past few days how many entries are usually opened? Counting only the first 4 hours Since Feb 29, there was a total of 24 potential entries. 3 of those entries I would not have taken because they occurred within the last 30 minutes of the trading window. My average would have been approximately 4.4 entries per session. 2. Do you think the lot sizing could be optimized? At this point in time, Im not ready to decrease my trade size. I am also, not...
{quote} ++++++++++++++++++++++++++++++++ Please MM, for clarification on 2 points: 1. You mention 30p SL. Is this 30p from initial trade, and applies to ALL entries, or 30p per each entry? 2. Are you saying (post #186) that no matter how many trades Q shows, we should be taking only 3 entries, maximum, per trade? btw, I'm the pesky student that always sits in the front and asks to many questions...
{quote} ++++++++++++++++++++++++++++++++ I see you have the same social stigma as me. Before I answer a question, I attempt to line up the entire cast of "Why(s)" & "Wherefore(s)" , before giving an answer. Most people avoid asking me too many questions, because I tend to not give simple answers to more complex questions. I call this need for only 'Simple' answers, "MTV generation syndrome." Perhaps we can credit 'for profit' news media for some of this 'need for speedy answers' also. That being said, I do appreciate lengthy answers. They give me...
I've completed the EURGBP pair analysis and have the SL and the lot size to be applied. To those who decide to give this a go post what you have found here. ps. the results are certainly worthy of discussion! All the best, Masterrmind............
{quote} Master i am confused how to apply the procedures, i hope there would be practical example to see. thanks Master
EURGBP [M1] @ 3%RISK PER CYCLE NEXT WEEK THE EURGBP [M1] CURRENCY PAIR WILL BE TRADED USING 3% RISK PER CYCLE ........... 1. What are the maximum and average trading ranges in our trading window and on a daily basis over the previous 20 trading days? 2. How many trades per cycle on average can we expect to see? 3. What SL in pips should we use? 4. What lot size per trade should we be trading? Masterrmind............ :nerd:
