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Hi Ibadah,
I calculate the SL, wich becomes also the TP, with the following rules: Say you take an entry with EUR/USD, because price penetrated the KS(KS 1.5500) upwards, and closes at say 1.5525. You open long position at next bar open, say at 1.5515. With KS still at 1.5500, your SL will be calculated like this: Take value ATR at bar open, say ATR=0.0107 Multiply that with 1.5 = 0.0107 x 1.5 = 0.0160, or 160 pips. Your entry was 1.5515, so SL is 1.5515 - 0.0160 = 1.5355. But, if price turns against you, I noticed that you'd better off, with closing the position if it closes back under the KS with a margin of 10/15 pips. But if all goes well, price starts to move our way. So we adjust the SL accordingly. Say price hits a high of 1.5750, with ATR at 0.0112. SL(and TP) will be : 0.0112 x 1.5 = 0.0168 High was 1.5750, so 1.55750 - 0.0168 = 1.5582 for new SL. If no new high is formed, this will be your exit. But every time price makes a new high, you adjust it. Ofcourse vice versa for shorts. In excel, it looks like this: |
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Btw, ATR is calculated different from broker to broker, and from program to program, so there will be differences.
Metatrader has another value for ATR than Oanda, wich I use for trading. But it doesn't really matter, as long as you are consistent with it, and use the same value every time. |
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Quote:
Followed by : Got stopped out EUR/USD today for a 1051 pip profit, curr.flat My biggest winner so far You must have meant Long from that level? Yano |
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i'm very sorry, your completely right
![]() Never could have been a short from that level........... Anyway, one can check trades by himself, only difference might be the value of the ATR, or the settings of the KS Last edited by profitman; 03-18-2008 at 09:35 AM. |
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Quote:
no problem there. just wanted to straighten that out. we are grateful that you are sharing a system here that is working profitably for you. Yano |
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