Will it be right SL at this short trade?
SL=C+(B-A)/2
SL=C+(B-A)/2
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Dislikedmy opinion is that all "discretionary" feeling based trading can be quantified [translated to rules] and then tested on long term data to see if it really works or not.Ignored
DislikedI wouldn't take the trade before there is opposite fractal on the correct direction.Ignored
DislikedAs a variation in my own approach, once the opposite fractal had formed, I was then able to define where the stop should be placed and then placed all the stop orders that were previously missed based on the new, opposite fractal.Ignored
Dislikeddid you get better results with this? Or better to miss this type of trades?
What is your choice?Ignored
DislikedIf you read the first post Mikkom only makes a trade after 2 fractals have formed. A lower fractal and a higher fractal. I presume this is to protect the SL, but it makes sense considering you are making opposite trades to the fractal signal.Ignored
DislikedYes, that guarantees that the stop is at the current middle point of the current swing which is quite an important point in determining direction.Ignored
DislikedI suppose it also acts as a buffer keeping us out of most of the flac swings but allows us to catch the big moves.
Very clever, I am liking it more and more after the penny actually dropped!
Mikkom have you also traded this on a shorter TF like H4, if so how did it do.
I was just checking this on other pairs and GBP/USD seems to hit the SL quite a lot.Ignored
DislikedI don't personally trade anything under daily candles but feel free to experiment. I assume that if you trade under dailies there is much more things you have to look at like how the breakout on fractal level was and where you should exit.Ignored
DislikedMikkom, what broker do you use for testing? What is GMT start hour for daily bars?Ignored
Dislikeddid you get better results with this? Or better to miss this type of trades?
What is your choice?Ignored
DislikedActivTrades, London time, gmt+1 (I don't just test, this is one of the systems I trade live).
I have used IB in the past (great broker) but their platform is not exactly top notch.
edit: Oh and I have used alpari in the past to test 1 min data.Ignored
DislikedThe reason i asked it is that i still do not get good results with GBPUSD. Buy this time i'm shure that my EA works 100% with all rules posted in this thread but results for this pair from 2000. EA hardly stay at BE to the end of 2008.
So my thoughts was there is difference in daystart hour which affect this system.
And without any testing data from other people who 100% know this system i do not know what else can i done wrong in my EAIgnored
DislikedWith 3% risk the result is 700$ profit on 10000 account from 2000 till 01/01/09Ignored
DislikedI'm a bit puzzled if I should allow backtest curves here.. The problem is that I don't want to - the rules are so simple that anyone should be able to reproduce the system and I checked my code - all is on the first post.
On 3% risk since 2000 on alpari data (that's my highest resolution data for GBPUSD and I still don't have full 1 min data - alpari databank doesn't have it for some reason), my result is very different than yours.
As I'm bored to discuss about the implementation of the method and not the actual method, here is EA that works...Ignored
DislikedI'm a bit puzzled if I should allow backtest curves here.. The problem is that I don't want to - the rules are so simple that anyone should be able to reproduce the system and I checked my code - all is on the first post.
On 3% risk since 2000 on alpari data (that's my highest resolution data for GBPUSD and I still don't have full 1 min data - alpari databank doesn't have it for some reason), my result is very different than yours.
As I'm bored to discuss about the implementation of the method and not the actual method, here is EA that works...Ignored