good luck
Forex Breakout Direction Indicator v3
- #152
- May 3, 2016 2:46pm May 3, 2016 2:46pm
- | Commercial User | Joined Oct 2015 | 1,090 Posts
there were no set and forget trades today. any manual trades?
No valid trade set ups today....lets see what tomorrow brings
- #153
- Edited 12:28am May 4, 2016 12:17am | Edited 12:28am
- | Commercial User | Joined Oct 2015 | 1,090 Posts
a other thing is the tp and sl for all pairs the same.
each pair have a other dayrange. like a euraud or eurgbp with sometimes 150 to 200 pips and eurchf have a dayrange from 30-40 pips.
when tp3 and 4 for eurchf is 60 and 100 pips, normaly never will hit. and the sl with 40 pips is nearly a complete dayrange for eurchf.
for euraud or gbpaud a sl with 40 is most of the time to small, but the tps, normaly will take easy when breakout in the right direction.... hope you understand what i mean with my english
each pair have a other dayrange. like a euraud or eurgbp with sometimes 150 to 200 pips and eurchf have a dayrange from 30-40 pips.
when tp3 and 4 for eurchf is 60 and 100 pips, normaly never will hit. and the sl with 40 pips is nearly a complete dayrange for eurchf.
for euraud or gbpaud a sl with 40 is most of the time to small, but the tps, normaly will take easy when breakout in the right direction.... hope you understand what i mean with my english
- #158
- May 4, 2016 10:49am May 4, 2016 10:49am
- | Commercial User | Joined Oct 2015 | 1,090 Posts
a other thing is the tp and sl for all pairs the same. each pair have a other dayrange. like a euraud or eurgbp with sometimes 150 to 200 pips and eurchf have a dayrange from 30-40 pips. when tp3 and 4 for eurchf is 60 and 100 pips, normaly never will hit. and the sl with 40 pips is nearly a complete dayrange for eurchf. for euraud or gbpaud a sl with 40 is most of the time to small, but the tps, normaly will take easy when breakout in the right direction.... hope you understand what i mean with my english
This is on my agenda to look at as I improve the system, but for now it's the same TP and SL for all the pairs.
We spoke about ATR on whatsapp a few days ago, I just can't seem to find a good enough ATR setting to use...
atr for a morning breakout dont work..... at the moment i adjust always my tps myself. i look at the average range from last, 10-60ays from the pair and this is set as tp4, other tp i make always depend of the pair in 10- 20 pipsteps less for tp1, tp2 and tp3.
sl i didnt adjust at the moment. because dont have a idea... i thought about to take the other side from the range as sl... but this could be to large for some trades....
atr is good in trending market, but on breakout, sometimes price come back and then hit sl for nothing.
maybe other members have a good idea for the sl.
for the settings that the ea now have ( for each pair same settings) its only solution a equitymanager, that close all with 3 % profit or so... that works fine in the past, but i taked the equitygoal always to high 5-6 % ... but with 2-3 % normaly you dont have a problem to make this every day average... but here is the problem, you can miss a big run, and miss 10-15 % sometimes.
my equitymanaer now trail the equity profit.... only fault i make in the past was, that i let start to trail to late and i taked to high equitygoal
thats wehy we are here for learn and make the best with this system. because the system is great... i like .... and the support from craig is great too
edit: other idea could be for tp 2 or 3 the size from the range and tp4 the avg 10-60 days range
sl i didnt adjust at the moment. because dont have a idea... i thought about to take the other side from the range as sl... but this could be to large for some trades....
atr is good in trending market, but on breakout, sometimes price come back and then hit sl for nothing.
maybe other members have a good idea for the sl.
for the settings that the ea now have ( for each pair same settings) its only solution a equitymanager, that close all with 3 % profit or so... that works fine in the past, but i taked the equitygoal always to high 5-6 % ... but with 2-3 % normaly you dont have a problem to make this every day average... but here is the problem, you can miss a big run, and miss 10-15 % sometimes.
my equitymanaer now trail the equity profit.... only fault i make in the past was, that i let start to trail to late and i taked to high equitygoal
thats wehy we are here for learn and make the best with this system. because the system is great... i like .... and the support from craig is great too
edit: other idea could be for tp 2 or 3 the size from the range and tp4 the avg 10-60 days range