I’ve tried parabolic, bollinger, rsi, macd, atr and so on…but alas to no avail.
Forget it.
Your question is too general, which time frames do you used? which instrument do you used? which strategy type do you used? what was winning percentage?
1HR and 1M…there where barely wins…it all kept going down(I used EA)
U tellin me not a single indicator can profit something as simple as 1:2 sl/tp???
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what kind of order are you used? market?, stop?, limit?
Market (but I trade on EA)…how is this information important?
Sorry, there is no best. Any trading plan must be yours and suits your needs. If you looking across traders, minority of successful ones and the majority of unsuccessful ones, you’ll see a tremendous variety of techniques, indicators, time frames, and currency pairs.
I’d suggest decide on what type of trading suits your desires and needs. Then build a very simple strategy (entry and exit rules, risk management settings and so on). Stay with stuff, such as indicators, you fully understand and test, test, test until they become 2nd nature. Adjust your testing until you see a consistent return even with losses (as they will always happen). Only then consider live trading
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Junk RRR into the garbage. Focus only on the T/P using your methods to see where the trend price action could reach. Usually it’s a support and resistance zone. Set your T/P BELOW where losing traders close their trades or get stopped out. Then adjust your S/L to give it breathing space.
I can assure you that using PSAR 0.09 - 0.50 setting is ideal for seeing where previous price actions stopped. 1Hr upwards is best.
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yes, order types work different on different time frames and instruments, for example, market order work good on D1 time frame in case of automatic trading. RR 1:2 suggest trend following strategy, so it will be easier to use stop order to build trend following strategy than limit order.
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