Hi Leon,Wavegarrick » Fri Apr 24, 2020 5:48 pm wrote:Thanks Taipan,taipan » Thu Apr 23, 2020 5:25 am wrote:Hi Leon,
Thanks for the update, will try an update again and make it better.
I am sure you will come up with some improvements
My ambition has been to get an exit as soon as price changes in the opposite direction i.o.w get a timely exit. In my endeavors with Expert advisors I have too often seen that very good profits are given away when trades are closed with an opposite trend signal. This is of course taking a total hands off approach without manual intervention. So in a way I have concentrated more on exits than entries in my year long quest.
In my approach you will see that I follow trend on the 4 hour time frame. My profits will take a knock in ranging periods but grow substantially in trendy periods. I hardly have draw down because my trades are closed timeously. In ranging periods I take a knock but in trendy periods I can have more than 20 000 pips on the table. This is how I have grown my system.
So let us take this a step further, now that we know we have a good exit. We need some sort of filter to take out the ranging periods. If we can get a good filter that looks at the higher time frame which will make you wait for your entries, but will give you quality entries with a timely exit, I think we will be onto something good.
I have tried with HGI on the higher time frame but was not too successful. I am now looking at solar winds joy which on a visual back test looks good. If you add the daily time frame you could have a filter. Alternatively add the daily and weekly time frame. Anyway, these are just ideas to explore which I have not yet touched.
This is the kind of thing we could look at and ideas are welcome.
Have a great weekend.
Cheers
Leon
Thanks for the sharing, I am looking some great indicators to improve the entry and exit. Will test it first before posting here.
Have a great weekend too.
Cheers,
taipan