Disliked{quote} Trading is only a "GAME TOOL" and the market is only its "PLAYGROUND".Ignored
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Disliked{quote} Trading is only a "GAME TOOL" and the market is only its "PLAYGROUND".Ignored
DislikedGuys, I am glad that my small summary has resonated with your views. I hope that we can work together to make "serious monies" from this "casino", i.e. game strategy applied to Forex markets. Today morning LO has provided an opportunity for almost instant TP with the "original" entry direction (as described in Post No.1).I open each series in the direction of the last M5 before LO and NYO, so my initial trade was a "sell" which has reached SL, then with "Level_2" mode "buy" it has reached TP. Concerning NYO, one may even choose even...
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Disliked{quote} I wonder if the high level of success is in part due to having a TP of 10. Have you tested using other TPs ? Also how about the cost of several opened and closed trades if it goes to a L4. Commissions and trading cost do add up.Ignored
Disliked{quote} It is not my thread, but I try to answer. If you set TP and SL at 10 pips, you really get your +10 pips or -10 pips, as the spread is already accounted for when TP or SL values are triggered. In other words: If your EURUSD spread is 2 pips (just as an example), the price has to move +12 pips to get your TP or -8 pips to get your SL. If you have a good ECN broker your spread is only about 0.3 pips (or even less), so to get your TP, price needs to move +10.3 pips or -9.7 pips to hit SL. Of course there is some commission with ECN brokers (e.g....Ignored
Disliked{quote} Understand that, but even when the costs are rolled into the spread it still is an ongoing expense. Have you tried this with a 15, 20 or higher TP ?Ignored
Disliked{quote} Understand that, but even when the costs are rolled into the spread it still is an ongoing expense. Have you tried this with a 15, 20 or higher TP ?Ignored
Disliked{quote} Understand that, but even when the costs are rolled into the spread it still is an ongoing expense. Have you tried this with a 15, 20 or higher TP ?Ignored
Disliked{quote} I had a little of back testing, what i understand is, if you target for 15, or 20, both on TP and SL you will get trades for some days, since the market as to move more than 20 pips a day, so you will have swap and you will not open another if it goes on to the next day, also on fridays it could leave it open on market close, and monday you could make 50 pips or loss 50 pips. My backtesting indicate something for me, trade mostly on London open, not saying that you could not be in profit on NY, but somehow i belive more on London. My results...Ignored
Disliked{quote} I wonder if using a TP of 5-8 would produce an even higher % of success and less times spent going to a LV 3 or L4 trade. More frequent but smaller positive trades.Ignored
Disliked{quote} I wonder if using a TP of 5-8 would produce an even higher % of success and less times spent going to a LV 3 or L4 trade. More frequent but smaller positive trades.Ignored
DislikedAs the enclosed screenshot shows: ECN broker EURUSD spreads can be really low: {image} I am showing it in support for the above price chart. With larger spreads an additional SL would have been triggered, bringing in the +10 net profit only after the 6th entry.Ignored