R:R "Percentage Focus"
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DislikedHi PriceJ58,
Assuming the range of EURUSD during asian session is 25 pips today and it's lower than the average range during the asian session. So for long order, you place a buy stop 10 pips above the high and sl is 10 pips below the low. For short order, you place a sell stop 10 pips below the low and sl is 10pips above the high right? Does this mean that you are risking 25 pips + 10 pips (buffer above) + 10 pips (buffer below) + spread in total? Then you tp would be 90 pips away assuming RR of 1:2?...Ignored
Disliked{quote} Assuming the range of EURUSD during asian session is 25 pips today and it's lower than the average range during the asian session. So for long order, a buy stop 10 pips above the high-Correct and sl is 10 pips below the low- no just below the low plus spread. For short order, you place a sell stop 10 pips below the low and sl is 10pips above the high right?- no just above the high plus spread. This means that we are risking 25 pips + spread ( the buffer is the pending order room to ensure there is no false triggering of order due to spread...Ignored
Do you use say London range to determine an entry during new York session? I was think for example USDJPY, this pair should be more active during Asian and US sessions. So can we use London range to get an entry during US session?
Disliked{quote} Thanks for the clarification. So my understanding was wrong. However, something still puzzles me. For a range of 25 pips, the total risk is 35 pips plus spread right, since we place our pending 10 pips above the high. Also for a long order, should stop loss be below the low of the range or at the low exactly? In this case, to close a long order we use the bid price, so there is no need for the spread right? Criteria for trade entry would therefore be Range of session below average of say last 10 sessions ADR has room from entry to target...Ignored
Disliked{quote} Thanks for the clarification. So my understanding was wrong. However, something still puzzles me. For a range of 25 pips, the total risk is 35 pips plus spread right, since we place our pending 10 pips above the high. Also for a long order, should stop loss be below the low of the range or at the low exactly? In this case, to close a long order we use the bid price, so there is no need for the spread right? Criteria for trade entry would therefore be Range of session below average of say last 10 sessions ADR has room from entry to target...Ignored
DislikedSUBSCRIBE silent follower On the right path, with more R&D, e.g.: correlation with news data, false trigger etc. many trial & error before getting the perfect sequence. {image} {image}Ignored
Disliked{quote} Can you expound in detail on that spreadsheet Data, how it is generated and is it able to help in this system? Based on what is required to take a more favourable position in the markets?Ignored
DislikedFor a simple but effective dashboard I think "CJA" and others had made a similar indicator in the past. Oh good, I just did a quick search and saw one. Those that already exist would probably need a slight adjustment to fit the criteria that would be best suited for this information. {image} {image} {image}Ignored
Disliked{quote} The main driver for your system is volatility/momentum its the heart the keeps your system alive. Hence the vessel for the system correlated purely on the historical data patterns on news release (high impact) by doing analysis on historical data say 3 years data on correlation on news release to your strategy you will fine days or weeks that you should entry or not hence improving on the winning ratio.Ignored
Disliked{quote} Yes i must agree on the momentum and heart beat comments in relations to fundaments. Apart from paid subscriptions to research driven institutions like reuteurs, bloomberg and others is there any other way of doing this? Otherwise i bring no pressure or request... I am wired to find a way. ;-)Ignored
Disliked{quote} Historical data (research) brings a pattern which you can use like a road map. E.g. historical OIL/NFP/CPI/PPI/ECN/FOMC/RATE at time bar XX:XX u will notice a pattern when it start to move etc; human behavior wont change so easily hence this pattern can be useIgnored