Triggered Trades: 4 out of 17 (plus one market order entered by mistake);
P/L: 37.
TOTAL P/L for the five days:
-84.3.
29 trades triggered out of 59 opened (=49.15%).
Some improvement required (see final comments on Fifth Day results sheet).
Have a nice weekend.
P/L: 64.4;
Number of Trades Triggered: 7 out of 28.
Thursday 5th September update.
I had no trades today, because I had to take time off trading last night / today.
TOTAL P/L for the four days:
60.8.
Total number of trades triggered:
23 out of 62 (c. 37%).
An improvement compared to last week.
Have a good weekend.
I hope you get good results. Best of luck. I am following your topic. By the way I think this thread should be in Trading systems forum.
Thank you, Kashif…Maybe the moderators could shift it…But how would I ask them…Nevermind.
Good luck with your new hedging system too.
Cheers.
P/L: 55.2.
T.T.T. (Total Trades Triggered): 2 out of 14.
I gave up on my hedging system as without SL there are so many positions left opened and now they are about 200 to 300 pips ahead and it will take too much time before the price comes back and then hit the tp on these positions.
I dont understand your system much. So basically you open two orders (Buy and Sell) from 15 pips away from the current price. Right? So what you do with your other order when one of your order is triggered? Do you close the other order or what? How much is the TP and SL?
I remember reading about a similar strategy long ago and I have this habit of saving files even if I dont use them so that I may need them in future. I found it from my folder. It goes something like this.
Authors Words______
"Here is a little trading system which I think is the easiest one I have ever found. It does not use any indicator at all and depends 100% on the price levels. Not need to make trading decisions as well. The ideal pair for this system is the trending pairs like EurUsd or GbpUsd and the ideal timeframe is H1 and above. The rules for this trading system are as follows:
-
Example EUR/USD 1.4350, i just take to be 14.35 so rounded to be 14 Pips.
-
For The Pending Order : 14 pips * 2 = 28 pips; so you will put the SELL STOP or BUY STOP 28 pips from 1.4350 = Sell Stop @ 1.4322 (1.4350 - 0.0028) & BUY STOPS @ 1.4378 (1.4350 + 0.0028).
DON’T FORGET to set the expiration for both of the pending orders at 60 Minutes (1 Hour) and as soon as one of the pending order gets triggered, you must hurry up to cancel the other pending order, examples : your BUY STOP has got triggered, DELETE the pending SELL STOP As Soon As Possible. -
For Stop Loss : 14 pips * 2 = 28 pips from the Opening Bar.
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For Take Profit … Price was 1.4350; so we just take 143.5 and we round this value to 144 pips. This should be our takeprofit level.
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Trailing Stop loss : 28 pips + (14pip/2) = 35 pips.
I hope that you will benefit from this trading system. Please share your experiences with it on this thread. Refer to the screenshot below for a better understanding on working with this trading method.
I have illustrated the method based upon the current price of the EurUsd on a H4 candle. I hope that you will enjoy this trading method
All the best "
I thought it may be of some use to you so I posted it.
Hey this looks promising. Are you considering making an EA for this?
Hello marypippin, yes, I did consider it but I am fine tuning the strategy so it would be wiser to keep it manual for the immediate future.
Hello kashif, thank you for that: are you giving up on your system already :S Stick by it, and you never know, it
may surprise you!
Thank you for your article - I used fixed SL and NL at the beginning but I have now tweaked the system to use
variable SL and NL values, depending on the ATR (average true range) of each pair, which seems to yield better results.
Regards