View Single Post
  #26 (permalink)  
Old 11-19-2006, 04:33 PM
Trader83 Trader83 is offline
Senior Member
 
Join Date: Oct 2006
Posts: 183
Trader83 is on a distinguished road
To pip'er

To pip'er
Yes, that is the idea. The point is that there are two outcomes after Phoenix has opened position - SL or TP. Sometimes, TP is reached in 2 hours after opening position. Sometimes position is held for 3 days, while price fluctuates around brakeven point (entry point). So we just get additional profit. The closer to SL of the first position we enter, the better is gain\loss ratio. I'm going to becktest this idea manually.
Concerning counting signals before entering position, I believe it does not improve Phoenix performance, and my backtests prove that. I guess that Phoenix is specially programmed to ''swallow'' or ignore other signals after entering position, like opening in other direction. Once position is opened there are two outcomes, and we should just wait. However, most positions made by Phoenix are correct, and before hitting TP, price fluctuates, that we can use. Simply just entering when we have -50 pips on first position, there is high probsbility, that the price will AT LEAST AGAIN reach entering point or breakeven point. So we enter with stoploss 30 pips ( Stoploss point of the first position) and takeprofit +50pips (entry point). So gain\loss ratio is much better than with initial TP 42pips and SL 84 pips.
Reply With Quote