Hi,
This strategy works for me fine so far. Only change I did that I stop the trade whenever there is reversal of trend. I do not wait for SL or TP or end of session. Regards,
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Iāve found in my tests that often the reversal comes on the hourly very quickly. Are you managing to do this without frequently returning to look at the trade at lower timeframes? Or is that how youād catch the reversal before it finishes?
Do you have a successful trading system to share with us ?
You seem to know a lot RedeemerOfMen
I wrote about my own experiences in another thread, in the automated trading section.
I donāt know any more than the next person. I decided early on in my trading career to make sure I built a good testing system.
Thereās a strange attitude here towards people who challenge hypothesis, especially considering challenges and criticism are what lead to improvement.
From my side, Iāll not be posting here, thereās little benefit for the time invested.
Thank you Redeemer for your reply. I just hoped you might have a simple trading plan or system to share that you had tested.
Took me ages, but found your stuff in Automated trading but sadly, most of it or perhaps all of it is way beyond my small (old) brain.
Looks like you can make profit and best of luck to you.
Take a chill pill and take it easy mate. I didnāt even say that you are wrong, I was just expressing my own opinions as well. If you question my strategy, I have my right to question why you are doing so. If you donāt want to post here any longer, leave.
If you take the time to share a strategy out here just to get someone to come in and tell you your strategy is a gamble, would you be happy? Try to put yourself into other peopleās shoes.
Iām not here to keep you happy nor am I here to give a ā ā ā ā whether you follow my strategy or not. Iām not selling anything nor am I trying to convince anyone that Iām good. But if you jump into a thread of someone sharing something that quite a number of people have found useful just to say itās not good, then expect to have some questions coming back your way. What else would you expect me to do? Sit back and do nothing?
Well said Cloud.
You canāt be blamed if somebody p1ssed in his cornflakes.
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Hey cloud, are you still sharing the clips for the daily setups that youāre taking? Itās been a while since I have seen one. Felt good to follow them.
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Hey, as mentioned quite a few other times in this post, my circumstances has changed due to work and life commitments around this whole Covid thing, so unfortunately now I am heavily occupied around London open time which means I cannot monitor hourly to take trades. I am now just focusing on my swing/position trading strategy mostly.
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You can try to analyse 1 to 2 pairs first. You can also focus more on the chart and look closely if you find something with the help of the structure. Try doing this on a demo, it will be helpful.
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Hi CloudNinee/Others, I see that last 2-3 weeks this strategy didnāt work well. What is your experience? Any idea why it is happening please? for lesson learnt purpose.
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Hi @supshin, thanks for your comment. This should rather be very obvious, the election.
I have not been trading this for a while now as mentioned before, I have other commitments that do not allow for me to be able to trade this strategy.
But any strategy trading on the lower timeframe during such a volatile period will become incredibly risky. This is also exactly why Iād much rather trade on the higher timeframe like 4H or D1 lately.
That Breakout filter works good in avoiding many SL hits (and a few TP hits as well), but, back testing on EURUSD & USDJPY, seems the major trend lines, pivot lines, over bought or sold areas and candle stick patterns, general sentiment of the market & of course effect of breaking news still play an important roll in leading the price. The system alone seems to have a fewer than reliable successful results.
Limiting the high and low of the last 3 candlesticks to the body of those 3 (so only open and close prices) makes the SL closer to entry point. The upside of this is that TP is then closer and more reachable in those few trades you enter, if the breakout has happened indeed, and the downside of course is narrower SL may result in trade being closed with loss due to high volatility.
Iām sorry but what?
Not sure if I see your point?
I like your strategy but I would like to backtest it before I use it on my live account.
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Yea thatās the point. Donāt copy, make the strategy work for you and only apply it if you think itād work.
Which part exactly?
Hey, Claudien, is this strategy still working for you?
HI Cloud,
Have you tried this with an OCO order? Wondering if this would prove to give more positive results in the event it goes the other way?
Thanks for putting this up!
Iāve tried variations of LBS and never find it profitable. I just did some backtesting in trading view and I think just looking at the Asian into London session on its own is no good. You need to look at market structure and key levels before the Asian session. Doesnāt matter if you go back 3 candles or the whole session too many times it breaks out one way then the other.
Letās face it the institutions know tons of retail traders are going short as soon as a candle closes below the low of the range and vice versa for the high and the manipulate price to hunt stops.
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