How do you compute the take profits? Shouldn’t they be from the buy/sell entry levels rather than the trigger high/low?
Hi guys,
It’s not in the official EA, but this is what I would do:
only take trades when RR is more than 2.0
move SL to BE and delete sell stop:D:D:D
Yes, you are right! That was an oversight in my calculations. Thank you for finding that… I have adjusted all my trade TP’s!
GBPUSD:
ATR=389
trigger high=1.6655
trigger low=1.6621
BUY @ 1.6655 + 10 + sp = 1.6669
TP @ 1.6669 + 194 = 1.6863
SL @ 1.6621
breakeven @ 1.6669 + 96 = 1.6765
SELL @ 1.6621 - 10 = 1.6611
TP @ 1.6611 - 194 + sp = 1.6421
SL @ 1.6655 + sp = 1.6659
breakeven @ 1.6611 - 96 = 1.6515
EURJPY
ATR=362
trigger high = 133.73
trigger low = 133.40
BUY @ 133.73 + 10 + sp = 133.87
TP @ 133.87 + 181 = 135.68
SL @ 133.40 - 10 = 133.30
breakeven @ 133.87 + 90 = 134.77
SELL @ 133.40 - 10 = 133.30
TP @ 133.30 - 181 + sp = 131.53
SL @ 133.73 + 10 +sp = 133.87
breakeven @ 133.30 - 90 = 132.40
Are we sure this is right? I saw a rule for deleting the second trade only if the first trade had failed. Are we supposed to delete it if the first trade succeeds?
wow! it’s working!
Long side not looking too good right now!!!
lets hope it change bias direction 
If long gets stopped out… I gess short side still ON right?
sucks that im at work and i cant set my SL for the long, i did this morning but it wont be the max profit:(
[quote="“manusiatengik”]
move SL to BE and delete sell stop
[/QUOTE]
I’m going to answer my own question here… been thinking about it today. I think in the spirit of this strategy, since we are taking profit based on the average true range (ATR), it makes sense that if one target is reached, that there wouldn’t (safely) be enough movement left to swing all the way back and get another target on the same pair.
I thought the rule was take the second trade only if the first trade gets to less than 40% of the ATR. On this basis, I have cancelled the second trade.
Regards
Sean
this is from phill rules :
- When should I cancel the second trade if it’s not triggered?
Never take the second trade after Wednesday, or [B]if the first trade went above 40% of the ATR and then got stopped out[/B].
yesterday the first trade went above 40% of the ATR, so i cancel the second trade
today the price touch my BE level, enough for this week:D. try again next week:cool:
Short would have been a big loser, the 40% rule worked well
yeah it ALMOST triggered my short but i canceled, i got more than enough pips on that long one
Are you trading a different strategy then? GBPUSD long was BE this week.
no same strategy, but I had to put 20 pips Short below the candle because it was too small, and i was afraid it might get triggered early, but price went up and i just move my SL with it.
BE on both GBPUSD and EURJPY, hmmmmm
Yes same for me. This was the 1st week i traded Eur/Yen live so i am happy i did not lose anything. I have now cancelled both pending short entries
I used the EA I have written, hmmmmm, didn’t need to do anything,
someone has the xls with updated performances? it will be good to mantain it updated
I just wonder when you use IBFX MT4, do you have to have 2 seperate accounts for doing this Sunday Breakout Strategy? Because IBFX is under NFA. It will have have hedge problem when you buy and sell at same time, right?