My Broker is IBFX and their new daily candles starts at 8.00 EST. Is that going to make an difference to placing the trade. In your first post you said that you place a new trade at 5.00 EST Thanks
My Broker is IBFX and their new daily candles starts at 8.00 EST. Is that going to make an difference to placing the trade. In your first post you said that you place a new trade at 5.00 EST Thanks
I have tested this egy on USD/JPY and the profit for 15 and 30 pips are closed. The 50 pips position is still open, hovering between the PL. By the way, can you give me the PL and SL settings for other pair of currency?
just have to adjust for the smaller price fluctuations......appears the daily average is only 25 pip or so....Originally Posted by ;
Yes Joe, this is a VERY mechanical system...the advantage of this is that 99.9% of emotion can be removed from the trading process, and that's the great thing about a set and forget egy. In terms of past results, I have seen versions of this egy that aim for profits of 60pips from a 30pip move in price, risking 90pips. The average monthly result is approx. 300pips. The basis of this system is the same ie. placing limit orders 5pips above and below the previous days high and low, however I have introduced a variation on the money management egy which involves aiming for 95pips while risking 90pips. Therefore, I do not have any historical results to share with you at this point in time...sorry 'bout that. The results of this new approach are being forward tested and posted on this thread.Originally Posted by ;
Good idea John...EURGBP may also be a pipfactory for this egy.Originally Posted by ;
Hello, what have been the past results of our mentors. This seems pretty mechanical? Thank you in advance...Joe