Originally Posted by wookey

Thanks Dav,

What's about this rule:

3) If you have a losing trades do not enter the next trade within the same 10 pips of price as the previous one.

Should we avoid the entrance price +- 10 pips or price where the trade was stopped? Or may be both 10 pips above the max of two and below the min?

+- 10 pips from the price entry of the losing trade. This applies in the case where a new entry is formed in the same 10 pip range as the previous losing one. This rule can help you stay out of ranging conditions where the price moves back and forth in the same 20 pips

Also, don't you think that 8 pips ATR is too wide filter for 1 min TF?

Sorry, I'm not sure I understood the question, are you reffering to the ATR 0.800 level?

Wookey

Originally Posted by wookey

Thanks again Dav,

Yes I meant ATR. You wrote 0.80, for EURJPY it's 80 pips range, too wide for 1 min bars. I'd say it should be 0.08 and even that is not small.

Does any rule apply to filter such trade as on screenshot?

I have a suggestion, instead of using a fixed level for FX Sniper's CCI, use variable depending on volatility. For instance: Allow new shorts if it retraced 20% of the previous high. If the previous high was 290 we allow shorts when it decreased to 232.

Wookey.

Originally Posted by cami

could you please post your last trade screenshot?

Originally Posted by wookey

Thanks again Dav,

Yes I meant ATR. You wrote 0.80, for EURJPY it's 80 pips range, too wide for 1 min bars. I'd say it should be 0.08 and even that is not small.

You are correct about that, it should be 0.0800 I'll fix it in the first post (that was a typo)

Does any rule apply to filter such trade as on screenshot?

That trade perhaps should not have been taken as I explained, but in the worst case you took it you would be out at 15:34 bar at 163.35 when the fx sniper reached over the 120 level and the AO was in plus with a loss of about 12 pips, not too bad.

I have a suggestion, instead of using a fixed level for FX Sniper's CCI, use variable depending on volatility. For instance: Allow new shorts if, it retraced 20% of the previous high. If the previous high was 290 we allow shorts when it decreased to 232.

Yes, it looks like a worth while suggestion to study and backtest, but in the case of that trade I don't see how it I would have helped you b/c it had retraced already more then 50%. Nonetheless it's still a suggestion to consider

Wookey.