SpiderX » Mon Aug 18, 2014 9:44 am wrote:
Hi
Would be interesting to know what kind of rules you have.
As a note, your account started on 21 Jul, which is when the markets are starting to trend and have some big movements.
Hopefully your rules have some consideration to make the system robust to the ranging/low volatility market conditions prior to Jul.
In addition, it would be great if you had a non-fixed tp:sl which is adjusted according to market conditions.
cheers
Hi SpiderX,
Yeah, the account is really new so definitely in testing stage still. I have been using FX Blue's Trading Simulator to test the strategy out and looks really profitable (went back to use 2012 to present data only).
Here is I usually enter a trade. I use the D1 TF only. I look for pair that starts to draw the fork. I then validate it by looking at the monthly trend and sto using Bob's sto 7 indi. If the signal is the same as the trend, I check the CSS. If the CSS agrees, I look at the SNR indi of slipshod for possible resistance or support. If it is within the support or resistance, I don't take the trade.
I don't put an SL usually but for TP, I either use the next SNR region or one of the TMA CG bands (an indi from another forum). I exit a losing trade (for a loss) if the support or resistance is broken against me or the trend changes. I let the trade ride the duration of the trend.
If the market is ranging, I trade within the SNR. Classic buy low, sell high. I'll provide some screenshots later to make it easier to see.
PS. I am a total noob. Been trading for less than a year so everything I say here can mean nothing at all.