Interesting idea but scared of dealer manipulating trades in.Will backtest it 100 times and let you know.
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DislikedProc, I did a quick backtest on EU over the last 13 month and the result is -3R, so I cannot see an edge with this strategy, what is the result of your statistic?Ignored
DislikedMaddin -- There wont be an edge using a popular static bet. You've done the first step in analysing past data which gives you an idea of strike rate / losers etc. Now you need to dig deeper and look at filters. Does time of day make a difference ? Trend ? Statistics ? Fundamentals ? Volatility ? Money management ? etc , etc , etc. Only then with some hard work will you be able to see if the trigger is worth the effort. The OP seems to think it is and that's a start. Good luck.Ignored
You can find my test result in the pdf. Days without trades are 5-0 combinations.
DislikedHi Proc, thanks for your reply. What I wanted to find out is if this system will be profitable with your simple rules mentioned at #1. Surely one can start to find further filters and sub-rules to get better results. But this would mean that the results are very personal and dependent on how you see the market, the situation, the news impact, the candle length and so on. And this will create not comparable results, not even for yourself because it is very different how you see the market conditions today or tomorrow, after some winning trades or...Ignored
Disliked{quote} I mean bruv did u backrests his initial strategy though. Don't fix something that isn't broken ye. Also did you use sma to filter out bad trades.You should maybe revisit this using the original method.Ignored
DislikedHi Proc, thanks for your reply. What I wanted to find out is if this system will be profitable with your simple rules mentioned at #1. Surely one can start to find further filters and sub-rules to get better results. But this would mean that the results are very personal and dependent on how you see the market, the situation, the news impact, the candle length and so on. And this will create not comparable results, not even for yourself because it is very different how you see the market conditions today or tomorrow, after some winning trades or...Ignored
Disliked{quote} Hello Maddin, You have losses in that spreadsheet, that weren't losses for me such as the 20th April 2021 Would be interesting to see you backtesting this with the original guidelines with no further filters, and then we can discuss what tweaks we could do, to keep it as systematic as possible from there Regards, ProcIgnored
Disliked{quote} Hello Maddin, That 3PM is not valid, because for a short position you would have had to wait for it to break below the previous day low, not the previous day high Regards, ProcIgnored
Disliked{quote} technically if generic there are many candles that closed below previous day low in the example. if we are talking particularly about the 1st h1 candle close break, then one would be most likely not looking at the chart at that moment.Ignored
Disliked{quote} no wick here when the red candle closed. entry was at the green candle open upon the red candle close before. anyway if entry is to be at 1st candle close, then any subsequent candles close after that below previous day low is irrelevant.Ignored