hi,
To tackle some of the main issues I encountered!!
Over the couple of years since I started with Spud's MTF-Stochastics (http://www.forexfactory.com/showthread.php?p=4448528) I have encountered 2 main problems.
1. At times (actually a good number of times) my entry was 'just bad' (still the Win/Loss Ration was good but it has always bothered me a lot)
2. Quite often the trade did not run to it's projected Profit Target.
Well, I compensated for that by turning to very small TFs. When I had my automated trading system running I used 10sec charts and upwards.
For manual trading M1 and upwards.
An important point to mention is: that for most of the time I mainly used different combinations of MTF-Stochs - and paid no real attention to: Price action, Support/Resistance - whatever else .........
More recently I have started again looking into my two main points of concern mentioned above. (one of the reason is that for the time being I want to trade manually and the 1 min takes a lot of screen time - summer is also approaching
Anyway, over the last month/weeks I have put together a new approach (new for me) which in-cooperates more emphasis on Support/Resistance, Trendlines ....
There will be a big change for me: I will be testing on higher time-frames (this goes even against some of my points I made a couple of month ago - so quite a change for test purpose).
Mainly I will test to take trades of the H4, H1, M30 (well will see how this goes as I'm not used to such).
To compensate for less frequent trading opportunities I will try to consider 31 Pairs.
Update: reduced them to 17 based on broker spread and Daily ATR
#"--Major Main--"
"EURUSD",
"USDJPY",
"GBPUSD",
"AUDUSD",
"USDCHF",
"EURJPY",
"EURGBP",
"EURCHF",
#"--Major Other--";
"AUDJPY",
"GBPJPY",
"GBPCHF",
"GBPCAD",
"EURCAD",
"EURAUD",
"CHFJPY",
"CADJPY",
#"--Minor Main--";
"NZDUSD",
_______________________________
This will be manual trading.
Just finished to put all together and hopefully start next week.
__________________ACCOUNT
20110307-20110311: +0,35%
20110313-20110318: -1.7%
To tackle some of the main issues I encountered!!
Over the couple of years since I started with Spud's MTF-Stochastics (http://www.forexfactory.com/showthread.php?p=4448528) I have encountered 2 main problems.
1. At times (actually a good number of times) my entry was 'just bad' (still the Win/Loss Ration was good but it has always bothered me a lot)
2. Quite often the trade did not run to it's projected Profit Target.
Well, I compensated for that by turning to very small TFs. When I had my automated trading system running I used 10sec charts and upwards.
For manual trading M1 and upwards.
An important point to mention is: that for most of the time I mainly used different combinations of MTF-Stochs - and paid no real attention to: Price action, Support/Resistance - whatever else .........
More recently I have started again looking into my two main points of concern mentioned above. (one of the reason is that for the time being I want to trade manually and the 1 min takes a lot of screen time - summer is also approaching
Anyway, over the last month/weeks I have put together a new approach (new for me) which in-cooperates more emphasis on Support/Resistance, Trendlines ....
There will be a big change for me: I will be testing on higher time-frames (this goes even against some of my points I made a couple of month ago - so quite a change for test purpose).
Mainly I will test to take trades of the H4, H1, M30 (well will see how this goes as I'm not used to such).
To compensate for less frequent trading opportunities I will try to consider 31 Pairs.
Update: reduced them to 17 based on broker spread and Daily ATR
#"--Major Main--"
"EURUSD",
"USDJPY",
"GBPUSD",
"AUDUSD",
"USDCHF",
"EURJPY",
"EURGBP",
"EURCHF",
#"--Major Other--";
"AUDJPY",
"GBPJPY",
"GBPCHF",
"GBPCAD",
"EURCAD",
"EURAUD",
"CHFJPY",
"CADJPY",
#"--Minor Main--";
"NZDUSD",
_______________________________
This will be manual trading.
Just finished to put all together and hopefully start next week.
__________________ACCOUNT
20110307-20110311: +0,35%
20110313-20110318: -1.7%
__Thanks__ MJ