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Originally Posted by pilofe
Simba,
I know that you use other analyses (cycles etc) to effect your trades and does not follow the system blindly (I am studying for this also).
Can you say how use MM in your real trades and your strategies for TP (works more than with a lot? How many?)
In case that you does not desire to answer, I will understand.
Thanks...
Angelo
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Hi Pilofe,
Yes,i use cycle analysis and thus don`t follow blindly my own system since I try to optimize on it,though most of the time I end up having the same results..
What I always do is never going against the system,so,if in a downtrend i look either for system sell opportunities or for cyclic selling opportunities
MM no problem,i use a leverage from 5 to 1 to 10 to 1 of my account,and my stop is always the chandelier stops based on volatility AT THE 1H BAR CLOSE,my experience tells me that this is equivalent to running a 30/35 pips stop in level of risk..ON AVERAGE
LOTS i use several lots,and i try to scale into positions in 2 legs maximum,usually but not always
EXAMPLE:Suppose you have 100k EUR in account andwant to sell EURJPY yesterday as per simbasystem signal..so 5 or 10 to 1 leverage means you are going to sell 500k or 1mm EUR ,lets presume 1mm..equivalent to 10 lots,and you split it into 2 legs,so you sell 5 lots at the first signal(check the pics of my previous post)signal and look to sell 5 more at the second signal..then you are set and the Chandelier stops manage your trade
TP:I use several strategies too discretional for my taste,my research tells me that it is better to go for a ride,when i finish it i will post
Hope it helped
Simba