Disliked{quote} Hi Osvelqbano, your remark is absolutely correct for me. This may look like a mechanical system because the rules are simple but that does not exempt us from turning on our brain from time to time and take a step backward to have a more panoramic view. From my experience I agree with you that very often large candlesticks are followed by retracements of approximately 50-60%. In these cases more than ever it is necessary to split your total size into 2 positions: 1 at the opening of the next candle after sma cross but with a huge stop-loss...Ignored
First stop goes according to the system's rules because it makes sense. 15 pips above or bellow previous candle high/low
The second one is dormant trailing stop which will kick in once I have reached 70% return on investment with the trail going back 60% ROI. I hate giving back profits once I have it. I would keep 10% ROI or more if the trade flips on me. Also takes away a lot of emotions out of the equation.
Orders will cancel each other so there are no mistake entries when I'm not able to keep track of the market.
Can't wait to test it on a long candle