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Old 05-29-2009, 06:50 AM
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phil838 phil838 is offline
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Join Date: Aug 2008
Location: Arkansas, USA
Posts: 1,783
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From your pic it looks like you have a time zone problem, FurTrader. The Sunday candle should cover the time period from 20:00GMT to 00:00GMT. Some brokers, such as mine, don't start their data feeds until 21:00 or 22:00, and that's fine. Volume is really low at these hours so it doesn't affect price much.

Here's a picture of the week on a 1 hour GMT based chart. The symbols are...

Red vertical lines: The Sunday Candles (my broker starts at 22:00GMT, so there are only two).
Orange horizontal lines: Entry points. Upper line triggers long trade, lower triggers short.
Light Blue horizontal lines: Stoplosses. Upper line stops out short trade, lower stops out long trade.
White Arrow: Candle that triggered the short trade.
Blue Arrow: Candle that stopped out the short trade.
Red Arrow: Candle that triggered the long trade.
Violet Arrow: Candle that broke even the long trade. (Trade went higher than 2x the Sunday range, so we moved the stoploss to break even.)






Let me know if you're still confused about anything and I'll try to clear it up.

This week was a loser, but that's no big deal. So far this year I've gotten 22 losers and only 6 winners!! But the risk/reward ratio on the winners is so high I'm up 918 pips. At 2% risk per trade that comes to an increase of 17.5% on my account balance so far this year, and the year's not even half over. Not bad for a system that only takes 15 minutes per week to manage.
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