I havent test it on anything else then the EUR/USD , allthough "Test" would be a strong word for 2-3 weeks , lets say it passed first check:)
The only other instruments i at least looked at , was a DAX(GER30 indice) Future and Gold Spot, both could use some adjustment , but the indice looks good , Gold had nice setups , but all in all to "nervous" for the Nonlag setting at least that was my first impression
Also i put it on a 10pip Renko,just for fun actualy but it woks allthough it needs adjustment as well
But i would bet this system will behave as good on GPD/USD as on the EUR
EDIT: And yes getting 20pips on the EUR is realy a relativ "sure" thing , and since i would always weight constanity over pip count maybe ill adjust my full TP to and not scale out , thats what i gonnaa try over the Weekend in the tradesim.
I was just reading about the difference between a ECN account and a Retail Trading Account and most of the guys say that once the Retail Broker finds that you are making Profits consistently they'll start SL ( Stop Loss) Hunting..
There was this other guy who says that he places in the Order Manually and keeps a Mental Stop Loss. Once he's like 2 or 3 pips above his TP Target, he exits the trade manually..
Don't know how much of that is true.. but is it true that the Retail brokers makes money if we loose ? and do you think we should enter a trade with out SL and just keep it in our mind ?
I usually enter the trade using my scripts..
Short : TP = 10pips , SL = 25pips
Long : TP = 10pips, SL = 25pips
Oh blutkehlchen, can you give me the link to where in can download the TradeSim.. I'm like so flicking addicted to this thing that I feel very restless on Saturdays and Sundays, when i cant play around with the Charts
Well you most likely wont get a real ECN account for the few bucks a retail trader is able to invest anyway and there are some brokers which have an at least ok reputation so...
Personaly i filter out all non European brokers also all from cyprus,malta or russia and so on ,i look for not only under which regulation they operate but also where they have there main office, that does not mean that all of the rest are bucketshops , but you have to start somewhere. Then i check how long they are in the buisness and if they just offer MT4 and and trading on Spot markets , or if they are less then 4 years old, they are out for me .
I also prefer those which are in car range , so i can beat the hell out of them if they scam me
There are different Tradesims like that for example
New Trading Simulator, Gain Experience Faster @ Forex Factory
Ok first time trading this, but i've been reading and watching closely for awhile now. So if my charts are correct we will be looking to sell when the ssl changes to red correct, its 1210 gmt
No thats wrong , and i guess thats something many did wrong with this Strategy , the ssl bars dont trigger anything they just filter.
Edit : Long signal just occured
Here is how i think it is
I used to do the same thing and when I lost, I blamed the system and went looking for something else..
But here's what you need to do..
When you see that SSL Bar has just changed colour..Do no place a trade if you get a signal..You'll need to wait 16 Bars to complete..
Example :You see that the SSL Bar has just turned RED..
You will need to wait till it complete 16 Bars and after that, if you get a Sell Signal you go for it ( SELL )
if the SSL Bar stays Green for 17 Bars and you Get a BUY Signal, You Buy.
if the SSL Bar stays Redfor 17 Bars and you Get a Sell Signal, You Sell
and you will trade this system in between 6:00GMT - 21:00GMT
Keep you Profit Target small, incase something wrong happens.. Like everyone says.. NO SYSTEM is Perfect..
Jackson and BLutkeh, thanks for the response and explanation. You guys are awesome. I totally understand now...thx for helping, i know you didn't have too. One question though Jackson, how did you place multiple trades in your statement, did you manually open each one of those trades??
I manually entered those trades one after the other.. Like i menitoned earlier, I have the Sell and Buy Scripts handy.. So Alt+S= Sell and Alt+B = Buy
But i realize that so many trades at a time with a small account is just not safe and I was just darn lucky..
I've been sober for the past few days and I only put in one order at a time.. and I only aim for like 1 Trade a Day , ( 0.2 Lots : 15 Pips x $2 Per Pip = $30 )
I started this method after my buddy Mahmood from GMI knocked some sense into me
Hello everyone who has got a lot of profit from this awesome system. Can anyone show me how to filter fake signal? or just u guys follow the rules and let it hit SL? if you guys have any idea how to filter fake signal let me know. thanks!
See my attachment to see my confusion.
The problem is it's almost impossible to filter all fake signals. If we could do it, we would all be rich.