I think the purpose of this thread it to test the system.
There is no harm trying, if it works for some. then it would be great 
It would be good if more traders give their insights
Regards
This system will work but it needs to be tested live and a bit effort put into it. You get from the markets exactly what you put into. Trading some one elseās system has never worked. You must personize it and make it your own. Thats all Iām saying.
I think look On candelsticks helps to let winners run for example inside days are a good signal
Thatās what Iām talking about. I like your thinking troparzum
Yes, inside days will be stronger breakouts
Yes,
Whatever system its needs your personal touch for it to work on you.
It OK if you want to increase targets on inside days, as long as it has good context and it makes sense to you
Good Day
right, tomorrow is new trading day
as of my personal touch. i donāt want to trade 1st day of the week. since historically, first days are often bad for breakouts due to lower volatility
also agree with you. good luck to all
trading starts today, have a nice week to all
Winning trade today on AUDUSD, i got 7 pips
Hi guys,
Is there someone who is collecting the statistics since the test has began?
Thanks
Nicola
Interesting because I got this as a loss, see attached
Previous daily low was 0.88522,
so sell 1 pip lower my entry was at 0.88511 with 7 pip sl/tp
here is the result ā¦ I would be interested to see how it compares to your screen
Bro, that could be just different brokers, different feeds, different spreads. Even a point or two gone in slippage. Trading these tight SL and TP levels this is going to happen.Especially if the spread you pay is greater than 1 pip.
But demo traders usually donāt understand this. And as yet I havenāt seen anyone trading this live.
well, that is not the case all the time. The main thing is looking for a broker that will meet this strategy. indeed it seems profitable.
if traders do some research, they will find a suitable broker for this one
Well bro, best you explain it to me. I will agree with you on one thing but. Finding a broker with the tightest of spreads is going to be critical if you wish to trade this strategy live. But as yet no-one has the balls to! How big is your set. Bigger than mine?
interesting system. Adding some touches cam make this baby certainly work
FXPro do tight spreads like 0.5 pips or 0 for majors but you pay commission of $13.00 per $100k Lot. Better than an out right spread and also you donāt pay all at once. $6.50 to open and the rest on closing. ECN broker so nothing less than $1000 to open an account. Serious traders only I am afraid.
Try exness
Thatās a bit rich bro. IC Markets have a $3.50 in/out commission and 1 to 2 point spreads on the EURUSD. They are fast becoming an industry benchmark.
Lets quickly explore the differences so the lads can understand why this is important. At FXPro, $13 comm equals 1.3 pips add in 0.5 for spread and your cost to trade is 1.8 pips. That represent 36% of a 5 pip TP and 26% of a 7 pip TP. That equates to 36 wins and 26 wins respectiveley per 100 trades just to cover the cost of trading. Now this is a 1:1 RR trade so of the remaining trades 50% must be winners to break even. At 5 pips thatās 32 from 64 and at 7 pips 37 from 74. Final figures reveal that to break even at a target 5 pips TP you need to win 68% of your trades and at 7 pips, 63%.
Over at IC Markets comm is equal to 7 points and spread of 2 point to give a cost to trade of 0.9 pips. Short-handing the figures equals 18% (18 wins) for 5 pip TP and 13% (13 wins) at 7 pips to cover the cost of 100 trades. The break even becomes 41 wins for 5 pips, 44 for 7 pips. End figures 59% and 57% respectively. Thatās a big difference in cost between the two firms and why trading these tight TP and SL targets is so hard. Much harder that the simple rules these lads have come up with. If the lads had been doing this live they would know this.
But as Iāve said before as a foundation to a trading plan there are far worse places to start than this.