And we've passed the 1.5340 stop.
Nobody knows. But there has to be a solution for these situations. It may not be true that we lose the Profit of days in some hours.
when we get out of this, I'm gonna tweak the system even more next week to help minimize DD even more so.
FYI, based on a current balance of 3300 is in DD of only 11% it can at times DD much more than that and everytime it has come back around. I've never had a losing month with this EA, you just have to have patience and balls of steel to withstand the DD. Obviously I can't promise future results.
ps... people still have to power to cut trades if they want to. with proper MM and timing this EA has the potential to keep pips coming in
Help the learner..
Is this a "head & shoulders" we are now seeing - so indicating a downtrend as expected?
bearish bat now
One of the "Zurich Axioms" says: "If you see the ship is sinking, don't pray - jump out!"
Problem is: How do we now the ship is sinking?
Yes you can cut trades. But the RAS will put them on again when price passes through the buying point. So that is not a solution.
As for "you just have to have patience and balls of steel to withstand the DD". The FX market will take back everything it gives if you give it the chance. Unless you've been trading this EA for more than 2 years then you haven't yet seen how the market can wipe you out in one week with a margin call. It doesn't always come back and will do it time and time again.
OK most trade are clear what to do with the buy hedge trade though?
Btw for those who interested in getting alert for harmonics, I signed up through http://www.fxgroundworks.com where they generate all the possible patterns
closed hedge trade, didn't expect that large spike and didn't want to get into another DD situation before weekend started. EA off till sunday. Still way up overall this week.
thanks for your patience fellas. more pips next week
good finish today but there comes a day when we all lose our pants with such action. And some of us will die by heart attack.
I meant that stick with a trade plan if your are sure of your chart analysis. I never said it will come back time and time againk, just from experience is has come back when it is regulated properly. I was confident in my chart analysis and yes i do have a price where I woulda shut the trades down... but the probabilities were with me for a major reversal... many signs were there. and we all know forex is about playing probabalities... I've been trading forex now for a living for a few years and I suffered many losses and took my licks and learned losses are part of the game, but to have patience to let your trade plan work out.
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