EJ [M5; PLS] {image} Note: Q will be modified to a higher value very soon after a few trades have been produced including some manual entries. Masterrmind.............
Hello Mastermind and thank you for sharing and the work you have put into this thread ! Finding the strategy very valuable, reading through the thread first but please keep up the great work! ps that time I was able to post
{quote} EJ - completed short cycle {image} Closed out manually. Note 1: Now into an EJ [M5; 100] long cycle set for last cycle in Asian session. Note 2: When this cycle closes out I will look to trade a PLS cycle starting around the FF Open. Masterrmind...........
London session EJ [M1; PLS] Pre-London session cycle set to go. Masterrmind.............
As shown I am simply trading cycles on the 1 pair today namely EURJPY. Cycles that commenced in the Asian session which were also PLS cycles (2) and now followed by a London session PLS cycle. So trade as many or as few pairs as you are comfortable with and lot sizing can always be modestly increased on fewer traded pairs if desired. Based on the current balance and DD% state of the trading account I usually prefer to trade 1-2 pairs and then carefully add in another 1 or 2 pairs if desired and these added in pairs usually have something to do with...
{quote} EJ - update {image} Waited for price to print out Q sell signals. Placed Expert after the initial 5 had been printed out. Price then went down to the DO line and bounced back up to recent highs. Then I entered 5 shorts manually to get into the cycle. But you don't have to do this either .... what you could do is simply wait until price starts printing out the next lot of Q short signals and then place Sell Stops below current price. This is a smart trading approach which shows patience. Traders choice. Masterrmind...........
{quote} Hi Mastermind, You have summed up your strategy concsiely and precisely. As I can see you are testing a hybrid form of High frequency trading and applying manual drawdown controls and any serious fx trader will benefit by paying attention to your methods, which fortunately - thanks to your articulatness - are simpler to follow. Reverse-engineering or working backwards always pays off . The journey is worth taking.
This was completely unexpected. I am looking forward to the news stories about this and what they will tell us it was. Definitely a black swan event in any case. Such is the market. I am glad this acct was able to absorb the blow and keep moving ahead.
Account Update (Black swan type event on the GBP currency) A nasty 900 pip flash crash driving GBPUSD down to as low as the 1.17 handle and as high as the 1.29 handle. {image} Approximate range of move is close to 1200 pips. GU [M5 Chart] {image} Stops on the account greatly reduced the impact and even though stops are applied wide on cycle trading I always use them. This should clearly illustrate the importance of always applying stops. Could have been much worse. A chunk of profit has been given back to the market. But the account remains in positive...
{quote} Important to note that on other brokers charts the ranges vary widely. On one broker there is no upward push in the PA to the 1.29 handle whatsoever. Some levels on GU hit the 1.17 handle whilst others have only dropped to 1.19 - 1.20 before reversing back up the chart. So trading results needless to say will vary greatly on this and many other factors. Masterrmind.............
UJ {image} Long manual entries applied. Others may be added depending on PA. Masterrmind...........
