What’s your SL strategy or how do you set them? Fixed? Or maybe market structure?
80k acct. U need to work with stop loss if not the KOF strategy will eventually give u a huge drawdown to your acct lol I’m a victim. The painful thing is u will then see price reverse back to your take profit after u have lost the acct. The kof strategy is not good for prop firm, I think is best for a personal acct.
So far I haven’t used a SL yet, as I said I am just experimenting with a free trial account, seeing how far I can get. The Min5 Cap Channel Signals are pretty nice and I use a few other confluences too. So far +8%.
Yes I use a free trial account just to experiment. I don’t trade kof exactly, rather waiting for the cap channel signals and then cost average 1-3 times as price moves against me. Didn’t cause a huge drawdowns yet, but let’s see how it goes.
I know I will need risk management eventually, but I am just curious how far I can get without. So far, it works great
Playing with indicators
Credit raphmark55 for mentioning Lucky Reversal and TDI.
It looks to me like the TMA MACD Oscillator can be used in place of the standard MACD with EMA cross.
For winning the overwhelming majority of trades - just wait for order block signals to enter.
For filter on 123-forex, use Cap Channel
Another look at the M5 showing large trade range.
Happy Thanksgiving Day to you AT! I guess that Turkey is on today’s menu?
Do you happen to have the Lucky Reversal, TDI, TMA and 123-forex indicators as I can’t seem to find them on MT4 or online?
Thanks as always.
Happy Thanksgiving, Rock!
raphmark55 gave me this website.
Provided u are cost averaging is same thing bro. U need a stop loss strategy trust me
Happy Thanksgiving, AT, to yourself and your compatriots!
That site must be like giving the keys to a candy store to you AT
Thanks, my friend.
Happy Thanksgiving to you and all the forum members as well. Enjoy the day! A great 2024 is just around the corner!
Hello, I reviewed your strategy and backtested it for the past several week and luckily if I were to enter with a 10 pip TP and SL, I have not found an instance where price would have taken me out…
I set an alert on my TradingView to notify me whenever there is a crossover so I can be ready for a trade.
I was wondering what your experience has been as far as winrate, also I was wondering what session you trade and how many times a day you get a crossover.
Thank you so much for your knowledge!
Hey @pilgrimprayers I think you could be on to something with your 10 pip TP strategy, incidentally what would be your SL set at? Does it have to be a rigid 10 pips TP and 10 pips SL set in stone?
Here is an example on the Euro/USD 1 Minute Chart from this morning. You would have been able to make 20 pips here at least on just 2 signals.
My chart marks are totally rubbish by the way.
I rode Eur/Usd up to near resistance after a double bottom. All indicators were in agreement.
Trading is the most fun when you know there is a high probability of winning.
Keeping to H1 or shorter time frame on Friday.
I have just been back testing with a 1:1 RR so I keep the SL at 10. I am using the strategy as it was initially posted and I haven’t been able to read in much to see what else has been added. What other indicators have been implemented?
I simply use the 4 EMAs and wait for a crossover to enter.
There are these indicators if you want them:-
Lucky Reversal, TDI, TMA and 123-forex indicators
available for free on https://indicatorspot.com/ test them out to see if they help you?
Those are my favorite arrows of all time.
So from 8.00 AM this morning on the EUR/USD there have been 3 signals so far on the 1 minute that would have netted you 30 pips easily (maybe there are more but I have been in and out a lot this morning).
There is another one in progress at the moment as I write this.
and guess what that one also worked too.
I think we found the Trading for Dummies Strategy here.
Fits me very well