After reading the whole thread and doing lots of backtesting I have two questions:
1. Big E wrote that he checks for set ups at 10pm (Pacific), again at 2am, and closes all trades by 6am. In between he sleeps and does not manage the trades. What if open trades are negativ at 6am. Does he still close them?
2. Big E also wrote that he usually uses a SL at the last swing low (or no SL at all) and a TP of 50. On the H4 timeframe this results in a terrible R:R ratio (risk much higher than reward) and led to consistent losses in my backtesting. Or did everybody switch to dcginc's ATR(7) SL/TP logic?
Thank you for this thread! Its huge but I learned a lot!
gary
1. Big E wrote that he checks for set ups at 10pm (Pacific), again at 2am, and closes all trades by 6am. In between he sleeps and does not manage the trades. What if open trades are negativ at 6am. Does he still close them?
2. Big E also wrote that he usually uses a SL at the last swing low (or no SL at all) and a TP of 50. On the H4 timeframe this results in a terrible R:R ratio (risk much higher than reward) and led to consistent losses in my backtesting. Or did everybody switch to dcginc's ATR(7) SL/TP logic?
Thank you for this thread! Its huge but I learned a lot!
gary