My first time post here. mojo6911 i would of still been in the trade too if i didn’t mess up my stop loss. Made the nub mistake and forgot to add extra for the spread. If i were still in the trade though myself then I would let it keep running until either a. it hits the 40 pip buyout or b. hits the stop loss. You can do what ever you would like but I personally will follow a system to the letter. You never know, the market could still fall more and you could hit that 70 pip buyout but of course you should make your own decision if you want to stay with it or not. Just my 2 cents
cuz its friday I hope you closed out. I/m trying to come up with a rule about trades left over from the previous day. Had my EA not closed out the trade form two days prior I would have had a handsome profit. Still working on it though…
Todays noram europe session was a killer. The $/J is not known for spectacular runs north or south. Its volatility is one of the lowest which makes it a good cannidate for this method. Im not to keen on using another JPY pair because I like low volatility
:39:
Hy guys! If you look at an 1h chart, how many candles would I have for this strategy? 2 or 3? do I include the 0:00 GMT candle?or its just the 22 and 23 GMT candle?
its just the two candles before that set up the range. It will vary from broker to broker what time the candle’s occur. But its the 6pm and 7pm candles EST (new York time) that set up the range.
My first 40 pip closed at the t/p so that is nice. The other one was still plodding along so I just closed it out. +40 pips on the first and +36 for a total of +70 pips on the one trade. Not bad at all. On Monday, I plan on following the system more exactly.
I did some backtesting but with other rules…TP 30 pips and SL 15 pips. I do not remember exactly but the results were around 300 pips in april and 60 in march. Quite good results. I will post later the results for january and february.
In march USD/JPY was in a big range and that is why the results were so bad
Chat room is open t hang out in and swap recipe and what not. who’s up for some lemonade!
I wasn’t trading yesterday, Sunday night, probably will be around tonight though if anyone is in the chat room.
closed my orders. nothing happening tonight.
Hello, first time post on babypips, been following this pair since i became aware of this system, backtested it and have been impressed by the results, finally decided to jump aboard and finally gone live with the trading, the trade is in motion atm, entered in when the price hit 8100.5, with a 15 point stop loss… lets see how this plays out… 
I have the top at 81.105
seems like the trade failed as the price reversed…o well…theres always tonight… happy trading!
Yeah, mine stopped out last night.
Hi guys,
I’ve definitly made some good profits from this strategy and I’ve been trialing it for the last few days, but one thing I notice is that most of my profits are weakened by the fact that both of the trades are triggered. for example, the long will be triggered, then stopped out, then the short will trigger and make a profit. but the profit is offset by the previous loss. I will be doing some back testing over the weekend and looking at how this can be avoided. At the moment i think that 2pips away from the range is too small, but I will return with some ideas we could discuss.
TWHM
when one of mine triggers I cancel the other. Last night my short triggered and I canceled the long. I’ll have to go back and read the first posts. Are you supposed to leave both the long and the short? Well anyway, last night was a winner on the 40 tp and the 70 tp
This pair has been trending down for the last 20 days so I think short positions will have a better chance of hitting take profit than long positions until the trend stops or reverses.
Hi there, I too cancel the other order if one gets triggered, unfortunately I just left my profit target to the 40, as it doesn’t always hit the 70 point target, so whilst i was asleep i thought it better to be safe than sorry and guarantee myself of the 40 pips rather than risk the 70. although so far it is my 2nd day of trading this strategy with one winner and one loser. so far so good…
I’m trying to figure out a way to move stop loss to break even for the 70 pip trade after the 40pip trade hits it’s take profit. Using Oanda java platform and not in front of the computer at the time
Last night was a good night for me too, captured all 110 pips for around 11% growth. I still haven’t been able to see a 60/40 Win/loss yet, all my back testing of more than 180 days says it is 40% win and 60% loss. I guess it was just in April that people were getting 60% winning, unless I’m doing something wrong but I don’t think so. Still I’m able to make profit just not 100% per month constantly which is understandable.
Im also finding that with all of my back testing about 25% or more of all days you end up not trading. Im still working on my back testing though. Started back in August, 2008 and I plan on manual back testing all of it up to present day. I might post the actual file when I get done so people can see.
No trades for me tonight. Thursday leading into nfp friday.
Hi guys I’m thinking of placing a 40 pips trailing stop on second position hoping to capture more pips as the trend goes… What do ya think?