billv » Tue Dec 19, 2017 8:34 pm wrote:Hi Gertje
I hadn't been following this thread but FXfoil got me interested and I've been reading through it
because I wanted to try and do a couple of changes to minimise the drawdown.
So how do you trade this thing now and which part of your trading is still automated?
If something is not working, it would be good to try and fix the problem.
Regards
Bill
Hi Bill,
The initial entry is automatic, after that the greater part is manual.
After the initial trade is triggered from the pending, I set the TP @ 50/75/100 pips, depending on the MarketDistancePips of the pair. The TP mimics the distance for the recovery trades.
Then I set a new pending at the TP-price, with the same TP-pips.
This untill I reach the original TP-level.
By doing so, I bank the pips on a run, and am able to reload on a retrace where the original trade would just be floating. PoS does the reloading automatically, sometimes I put in a limit-order to get to the edge.
Last weeks GBP gave me a headache, because the H4 was at the top, but the D1 was at the bottom of their 6th. The price kept making new highs on H4, creating a lot of DD.
All but 2 pairs have recovered now, GBPCHF and GBPUSD still to go.
Lately I'm looking more at the D1 chart then the H4, with good profit.