Basically, from the original concept the following changes have been made:
1) No initial trade is taken on the FB
2) Stacking trades are made once the reversal signalled by the FB is confirmed by the MA Cross
3) The position sizing in the stack is a classic pyramid so that you enter large at the outset where most profit should be and then half the position size with each stack trade.
4) Closure of the Stacks is the original 50% cull at a pullback bar
My usual goal for a system is 4% per day as that is what I used to average spread betting stocks so come on guys, let's get some improvement on the entries, and find a way to trade the flat points!
An attempt at revival, I still think Joe has potential for riding big moves.
Instead of using a MA cross on H4 candles use the colour change of Heiken Ashi candles. HA candles are averaged but may "get in" sooner to take advantage of a big move.
Is the stacking and 50% cull at a pull back bar occurring on M5 or H4? Pipeasy used M5 candles for the stacking and 50% cull at a pull back bar. All trades were stacked using fibs and only when the previous trade was at break even. |
