Hi zentrader, for the entry on 8 of March 2017 am i right to say we buy at 1.0570 (hit SL), and then reenter sell 3 times lot size at 1.0550?? or is it reenter at 1.0560?
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Actually the answer is depends on the price action, the more close 00 levels from the 8.00 candle. its better, means the price still has a lot plenty of room to go down or to go up. In this case enter at 1.0550 or 1.0560 levels both end in profit.
Have you ever tried to Put your stpp at breakeven at your target to get some more Pips? Or other trade Management Strategies ?
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NOpe, i like to keep it simple.
If you want you can try others money mangement.
but id like to keep it simple ,and keep repeating it.
IF you take more than 10 pips it will increase the risk to not touch your tp, or only BE.
and the win rate will be change.
Hmmm so assuming u win 1% a day, and on a bad day , u will lose approx~1.5% + 4.5%....have you tested this system for over 90% win rate? Or else I don't really see the math adding up...
The only true wisdom is in knowing you know nothing.
what, if the candle after the 8:00 candle is an inside-bar, do you wait for the next candle, or do you place a buy-stop and a sell-stop at the 00 level above/below the 8:00 candle?
SL hit, open second trade with triple lots buy stop at 1.0610 SL :1.0595 TP :1.0620 Lets see.. {image}
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Hi Zentrader8
Very nice system. just started trading it this morning and I notice on your chart. You have an indicator that put lines and the name of the cities New York, Sydney Tokyo, London,
could you please share this indicator.
Thank you.
Hi Zentrader8, thanks for your share, your strategy seem solid, i got notification from icm.... broker about server time changing from gmt+2 to gmt+3 start next week, do we need to change our start candle from 08.00 to 07.00 for next week? thanks
Do this really works? For how long you testing this method? I like to use this system. im using admiralmarkets as broker at what candle do i need to look at?
That doesn't matter. 1:1.5 RR and 1.5:1 RR have the exact same expectancy. The only difference is the frequency in which your losses and wins will be distributed and the sizes of the losses and wins.
Again. The only thing you ever really need to worry about with any system is how to overcome the statistical disadvantage of the spread. This disadvantage gets larger the tighter your stops and targets are. Using one R:R over another isn't going to save you. All it does it change the frequency of your wins and losses along with their sizes.
Simplicity is the Ultimate Sophistication
