You are very welcome. I hope it makes you tens and tens and tens of thousands of dollars. Nothing wrong with using mini lots to test it live too. I do not have a YouTube channel and I would be perfectly happy if the strategy was simply used by baby pips members and any of their friends or loved ones they chose to share it with.
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Oddly enough, I was looking through my written strategies and found this one that I have already done a while agoā¦lines up perfectly for yours as well
Looks good. Probably many strategies that work. We just have to have the right rules. The thing I like about my system, and probably yours, is that they are so incredibly simple. Anyone could do them. The forex novices may even do them better since they would actually follow the rules when I still foolishly take chances from time to time.
Newbies should definitely follow rules until the learning curve is better. But then again. Fortune favors the Boldā¦sometimes.
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Sometimes, haha. Like 15 percent of the time.
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Just closed last trade of the day, adding 22 pips on a long.
Another great day!
6 total trades.
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I have been working on automating your strategy obsessively but I canāt seem to get the win rate and draw downs to respective levels though the return on investment is crazy. I am getting roughly 300% ROI when back testing for current year data (roughly 280 trades) with a win rate of just 28% and drawdown of about 39%. I prefer to have the drawdown to be less than 15% when back testing which I am able to achieve if I reduce the risk% per trade but then the ROI falls dramatically. Need to try and get the win rate up with some additional logic.
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Great share. Giving this a demo!
Maybe we need to just close trades after a set number of pips profit? The win rate should be very high. Would that change both the drawdown and the win rate even though we sacrifice ROI?
I agree. I only aim for 10 pips and get out of the trade. Move stop loss too break even once trade has moved in my favor
Iām in too, but late on my entry. Are we going to hit previous high?!!
**I moved SL to break even.
It looks like it will.
Yessssssss. Added to my position after breaking that blue line.
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There it goes
One more resistance barrier to break on 30M chart right where we are now. If we get over 1.06455 thereās nothing in the way.
It is retesting 1.0635. If it closes below support I will close the trade
Agree. We can re-enter if it breaks that resistance.
Iām hoping this is just a pullback, so I re-entered. Iāll add at 1.06455.