Quick Change System

[Shr1k]

It may have been his last salvo on the forex store thread.

LOL
apparently I did miss something I stopped reading that thread a while ago

[jaquille]

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What rule did tj break? I can't seem to find any.

[dobro]

There is no question that BP traders seem to fall in to two camps; PA traders who hate indies and indicator believers that watch the indies more than the price. I think this strategy is the best of both, 2 very quick hardly lagging indicators and watching the current bar act/react to it's previous bar.

I'm too fast to close a trade at 8-10 +pips and don't realize a 1% addition to my margin account but on the other hand the +8-10 can't be taken away in that trade. In another trade maybe but not the closed one.

This is an excellent strategy and so easy to learn and use d.

[jaquille]

Originally Posted by dobro

This is an excellent strategy and so easy to learn and use d.

They canned the originator for who knows why?

[finally]

Originally Posted by dobro

There is no question that BP traders seem to fall in to two camps; PA traders who hate indies and indicator believers that watch the indies more than the price. I think this strategy is the best of both, 2 very quick hardly lagging indicators and watching the current bar act/react to it's previous bar.

I'm too fast to close a trade at 8-10 +pips and don't realize a 1% addition to my margin account but on the other hand the +8-10 can't be taken away in that trade. In another trade maybe but not the closed one.

This is an excellent strategy and so easy to learn and use d.

Why do I always get stopped out using this method?

[dobro]

Originally Posted by finally

Why do I always get stopped out using this method?

Examine your entries, TPs & SLs. Are you entering correctly, ie the candle AFTER a crossed one? And are the EMAs showing a decided slope and parallel with each other? 1H TF? I set my TP for 20 pips & the SL at 10. I rarely get 20 as I am apt, usually wrongly, to pull the plug if I get around +10 amd the price stalls. I also move the SL 5 pips if the price has gone my way 7 or 8 pips. At +11 or 12 I move to BE+1 or 2. I never settle for just BE as I didn't put in the time and effort just to reward the broker and not me. Granted 1 or 2 pips isn't much of a reward (unless trading a great number of lots) but it's better than just breaking even.

Hope this helps, d.

[DennisL]

I don't know how y'all are profiting from this system. I am not. The losses way outweigh the profits. I am following all of the suggestions on this thread -- S/L = 10, T/P = 20, wait for the H1 candle to close, etc.

Earlier in the thread, I mentioned that I am trading the four major pairs -- EUR/USD, GBP/USD, USD/CHF, and USD/JPY. Maybe I am trading the wrong pairs for this system?

Suggestions, anyone?

[Shr1k]

From what Dobro just posted sounds like a better goal might be closer to 10 pips with an option to let a winner run. move your sl or close 1/2 and let 1/2 run. a strat that can produce enough winners to be profitable with a real 2:1 win/loss ratio is hard to find I don't think this is one.

That said 1:1 with a good win rate or cutting losing trades short before the hard stop all increase the long term profit and can make a good strat.

[Master Tang]

Try moving your stop loss up into profit zone as soon as it becomes viable. Don't leave it dangling as a loser if price comes back to you as it often will.

Little gains are better than stopped out losses.

And every so often, it will just take off.

I almost never have a predetermined t/p point. I either drag my stop loss up behind, and get stopped out profitably, or I manually sell out when I choose.

[Master Tang]

Sorry Shr1k.

Should have read your post before I opened my yap

Good call.