Thanks
I'm sure that if I close the positions with the Take Profit I will get the 2nd position, it depends on how are the others doing.
I have to say that I used lots of 0,5; 1 and 3. The good is that there are no losses and I manage to understand the price direction, I'll publish the strategy in details with the rules so we can work on it.
I can say so far that a very important thing in forex is the "demand and supply" (i forgot this aspect and I had wrong ideas about forex, thinking forex was all about indicators), so you know when it's Oversold and Overbought with indicators like the Stochastic wich use this concept. You can trust Stochastic only on Daily Chart (maybe even H4) but that depends on the ammount of pips you want.
When you understand the price direction, watch for Support and Resistance on the Daily chart, draw a Trendline if it helps too. If you want you can use Stochastic for both Entry and Exit.
A powerful system has to be simple and point to the right trend direction, that's it. After that you need some Money Management for the system.
In the contest there are no EA allowed so I'm doing it manually, I'm doing some trades in Real account too.
I'm sure that if I close the positions with the Take Profit I will get the 2nd position, it depends on how are the others doing.
I have to say that I used lots of 0,5; 1 and 3. The good is that there are no losses and I manage to understand the price direction, I'll publish the strategy in details with the rules so we can work on it.
I can say so far that a very important thing in forex is the "demand and supply" (i forgot this aspect and I had wrong ideas about forex, thinking forex was all about indicators), so you know when it's Oversold and Overbought with indicators like the Stochastic wich use this concept. You can trust Stochastic only on Daily Chart (maybe even H4) but that depends on the ammount of pips you want.
When you understand the price direction, watch for Support and Resistance on the Daily chart, draw a Trendline if it helps too. If you want you can use Stochastic for both Entry and Exit.
A powerful system has to be simple and point to the right trend direction, that's it. After that you need some Money Management for the system.
In the contest there are no EA allowed so I'm doing it manually, I'm doing some trades in Real account too.
"Hate the sin, love the sinner." - Gandhi