Quote:
Originally Posted by Spot
Bernard,
Regarding on your Daily Chart setting with 300 SL. That will need high deposit account say 10K. Though TP may go up to 900.
For small trader like me, it thrill me to see how a 1k account can grow and grow. Consistency and constant TP.
Just my 2 cent thoughts. Nevertheless keep up the good work!
Spot
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Spot
You are correct in one sense about the 300 pips stoploss, but we have to remember that once we hit a profit, Excalibur will set the stoploss to a breakeven, of our entry point and the original 300 pips stoploss is eliminated. The traling stop then goes into effect to control the price swings and as long as we continue the trend, then the break even is moved, in our favor and controls what profit, if any, we capture if there is a reversal.
Currently I am working with a trailing stop of 100 pips on the daily chart, since the swings can go that far, even if the trend is in our favor.
Personally I like the daily charts more, since the profit factor is larger, if we are in a winning situation. More testing before we can make a good decision on this one.
Also on a mini or micro amount a 300 pips stoploss is not all that much of a risk as long as we do do not have 10 currencies trading. I have seen on the daily charts that only around one to three currencies send a order signal and on a mini account we are only risking a small amount here remembering that the stoploss will adjust itself.
Thank again and your input as always is appreciated. Keep up the good work here.
To Success
Bernard