Quote:
Originally Posted by nutrader
Thanks for posting this strategy phill, it seem like a great system with very respectable returns for little effort, i understand all the the entry exit criteria's etc and followed last weeks trades (but didnt trade them). However i have a question. In your 1st post explaining the strategy rules you say move stop to break even once it has reached 2 X sunday candle range however on last weeks short you used 2 X initial stop loss which was 80 (2 X 40 = 80). If you had used 2 X sunday candle range as the rules suggest (30 pips X 2 = 60 pips) you would have broken even on the short.
Anyway i am keen to try it out. My 4hr sunday candle is good for the system. but for some reason my ATR (14) applied to the weekly chart does not match yours. you posted last weeks trades as having a PT of 240 pips meaning ATR was 480 however my ATR was reading between 580 & 600. i have not used this indicator before so i am not totally familiar with it. I am using pro real time charts & today my ATR is currently reading 591.
sorry if i am doing something wrong or have misunderstand something. would be grateful for any replies
|
Good catcher, Nutrader! When I trade this system I use 2x the stoploss for by break even point, and not 2x the Sunday candle. That was a typo and I edited my first post to fix it.
As for the ATR, I can't even imagine what's causing that. I've tried 3 different ATR indicators on MT4 and they are all giving me 508 for the weekly ATR(14), as of Friday evening...
80+ pips is too much for it to be normal differences between brokers, but I'm at a loss to explain it.
Anyone else have any ideas?