No. You can’t close half your trade with .01 lot. If you get more comfortable with the system you may want to consider entering the trade with .02 so you will have the flexibility later to close half the trade with .01. That is the way I am doing it.
thanks winalot2… you are only using this system to trade and have u gone live? thanks
soul786, I understand what you are saying about moving the hard stop to BE once you close half the trade at +50 pips. Good way to do it, some call that the 50 pip rule and I like it.
btw, how many pairs of currencies are you all looking at right now?
I think only me , soul and winalot are active in this thread… lol
masterillegal, No I am only trading this system on demo for now. I will have to see real good results before I will take it to a live account. As with all trading systems I have tried they can go thru periods where they work great and then the bottom falls out. Usually a system like this will work well in a trending market and not well at all in a sideways market.
I think you are right that me (winalot2), soul786 and you (masterillegal) are the only traders active in this thread right now.
BTW, I just closed half my position on short the GBP/CHF for a +50 pips. I will not move my hard stop till about 75 0r 100 pips profit otherwise I will be stopped out quick for sure on my remaining position.
Whoops, I take that back. I will move my hard stop to BE now. I don’t know what I was thinking. I am trying to manage 3 different systems at once. >>>>>>>>;)
hi, have u tried shorter time frame for the system? for example M15, M30?
I have not tried shorter time frames. I have not had good results from using crossover systems on smaller time frames than the 1hr or 4hr. Bear in mind the crossover systems are designed with the speed of the MA’s to fit a particular time frame. If you change the time frame the speed of the MA’s may not be appropriate. What I have found to work best is take the core design of the system and use other tools such as stochasics, RSI, S&R, etc. to help determine entry and exit as well as tweaking SL and TS to improve results. Also keep in mind that Forex is so fluid what what works well today may not work well tomorrow. Good luck. :rolleyes:
I haven’t tried a shorter time frame for the method however I do recall reading sometime earlier in this thread that the shorter time frames are a bit more risky; I agree in a sense because psychologically you see a lot more PA. On the contrary you can use the lower TFs to time a better entry as long as you’re setting the same stops and such as you would on the daily. For timing entries better I think the shorter TFs are good.
As for what I’m watching, check the attachment I have added. It’s a screeny of the profile I set up on my monitor so I can see 8 pairs at once. Then if I need to view one chart a bit closer I just maximize. I beielve the picture is large enough to also view what the exact pairs are.
I’ll be implementing this in my next trade also. It’s a great way to secure profits. Would hate to see a trade go into the + and few days later retrace for a complete loss 
oh i see… so u only watch on these 8 pairs… i got 10 pairs here… not sure whether i should keep a look out for so many or just reduced to a certain pairs…
Hey soul768, Can you tell me how to save a profile.
The way I’ve started looking is a basic skim. Having more charts open just means theres more opportunities to enter a trade. Each pair ranges and trends so I don’t think theres any pair that would ‘not work’ with this system.
That said, when I skim, I watch the slopes of the MAs and whether the past week (maybe 2) are ranging rather than trading. In those cases I wait for stronger slopes to indicate an entry. Otherwise I wait a bit, maybe a day for a closed bar to confirm the direction and place the trade.
i set different profile for different time frame. After you have set all the inidcator and time frame, go to File - Profiles - Save As, then name a profile.
And that’s it…
Soul, correct me if i am wrong… thanks
Yep. First set up all the charts how you’d like them to be displayed. Then in MT4 go to File–>Profiles–>Save As.
Then give it a name and itll be saved. Anytime you want to bring up that profile go to File–>Profiles and select the correct one.
One thing to keep note is once you’ve set up the profile and are looking at it, any changes you make to it will be kept. If you watch other systems, select the default profile first before closing/opening other charts. That way you’ll have the profile set so you never have to worry about making adjustments.
so more pairs to look at means more opportunities right? by the way if i position my chart based on yours, would be very small in each window, cause i have 10 pairs to look at…
Btw, what you all think about EURAUD going for a long?
by the way, just a thought… u guys were saying to set it to BE when it take profit of 50 pips… How do we take profit of 50 pips? we adjust the lot size?
I not sure whether you know what i mean. When the price enter is 1.50 then it hits 2.00… so how do i take the 50 pips without closing the trade? i cant right?
Great job spotting that one! I hadn’t had that chart open and would have missed it. Looks like a strong trade with potential. The fast MA with quite a strong positive slope is reassuring. For my taste I think I’ll give it an hour from where I have this attachment and make sure the cross holds.
If no retrace then I will enter 2 contracts LONG with a 200PIP hardstop and 75PIP T/S.
When you have 0.2 lots open or 2 lots for example, we close half that position. In MT4 when you bring up the close order window, you can adjust the lot size for the modification. Reduce the 0.2 to 0.1 or 2 to 1 so that you’re closing HALF that position. This means you’ve locked in the profit from half of your initial position and let the other half run. Moving the stop to the break even means that if it does retrace all the way back, at least what you made on half the position is still yours.