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One lot in each direction with a 10 pip tp, no sl. What do you do the next night at 8 pm if one side didn't hit or is 100 pips out the money?
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above situation has happened only once in a few years --- it went one day and then closed --- we continued trading the next day, as if nothing had happened !
i do tend to check the charts to make sure there is enough headroom and bottom room for the 10 pips, but at 8pm, est there usually is, as major activity occurs overnight, during the asian market and into the opening of the european market. Seems to be reason it works, because of two markets volitility and it only being 10 pips each way ! If all else fails, then we have the US market to shake some things up.
the idea is based on how a forex trend, once broken by news or the jolly green giant stepping on the chart, wants to return to whence it came once daytraders have had their fun ! It is graciously aided by wide range that GU usually works in !
enjoy and trade well
mp
BUT PLEASE CONFIRM WITH DEMOING before doing ~!
mp
__________________ KNOWLEDGE and EXPERIENCE are the handmaidens of the riches of forex, and i buy them roses every day, with many a thank you !
Wayne - could you post your template? How come all the float info comes out on top of each other so you can't read it?
Thanks - this looks like an interesting system...
Ross
NO Ross, Im one of those old fashioned dudes who walks over to the computer at 8pm and presses the buy and sell buttons --- in that manner, being a person who contributes NOTHING to society, the GNP or the furtherment of civilization because trading adds NOTHING to the aforementioned, except for accumulating money to satisfy greed of course, I feel that I've actually accomplished something !
Should walking over to the computer be too difficult, I imagine someone can come up with an EA for this !
Do you know why the stock exchange worked SO hard after 9/11 to get back online ? Because in the days that they were down, NOTHING HAPPENED TO OUR ECONOMY, because the market is NOTHING but smoke and mirrors, a scared man behind a curtain pulling levers, an emperor riding down the street naked ---- Its NOTHING and everyone wants the latest and greatest EA to make it easier to do nothing (but get paid for it) !!!!!
oh well, tongue now comes out of cheek
mp
ok, rant over
__________________ KNOWLEDGE and EXPERIENCE are the handmaidens of the riches of forex, and i buy them roses every day, with many a thank you !
Hey Lep.
Trust you are well and that the new year is treating you as well as it is treating me. :-)
H4 and D1 is where the money is.
Most systems that fail or break even on lower time frames actually make money on the higher time frames, a lesson most newbies would be wise to take note of. Boring, but profitable.
Wayne - could you post your template? How come all the float info comes out on top of each other so you can't read it?
Thanks - this looks like an interesting system...
Ross
Sure! I have put TrendHist in experts\indicators but I don't see it.
Now I load the template and I see it correctly! I don't understant ehy I don't see trendhist in my list of oscillator....
That just happened to me.....the buy side missed closing out by 4 pips. Still in at 20+pips to the negative.
Good thing for demo accounts. That last Cable spike took it out by doing this. I would not recommend this unless you are very well capitalized with an account that can handle the drawdown
Linear Mode
