well, you can switch the levels plus some other mods if SL, TP, TS were used... after that you need to monitor the situation carefully to switch them back. Or just use another strategy for "choppy" conditions... This only works if you have a very large account and trading with nano-lots.
for those that claim hedging is not good ... take a look to one of my statements that i used to utilize a kind of hedgin there.
%1900 profit in less than a year. in most of pairs on every market conditions.
you can switch the levels plus some other mods if SL, TP, TS were used
can you give me more explanation + an example.
Not only words but complete concepts.
Show it to me in crispy detail.
I need all of it.
Marco is right, if you dig too deep eventually you will enter a "know how" territory and people will charge for the knowledge. His example with Coca-Cola is not entirely correct thou - even with a huge company like CC there is huge money to buy it... It could happen to CC secrets in the future...
Also it would be not right for me to give a more elaborate answer on your "choppy" condition modifications simply because, as you know, in trading a profitability assessment is done in terms of percentages. And for different accounts/funds the percentages are different... in other words (Larry Williams) what for me is profitable for you may not be (because of differences in the assessments, trading styles, goals, psychologies etc.). To conclude: I personally would not use this strategy in choppy conditions (especially for short time frames) - there are much better setups for that.
The only rigid rule for successful trading: master your Risk Management. Then a simple 3 MA strategy will get you far (Keith or Marco can code it for next to nothing)...
I hope it was helpful. Cheers.
Thats such a nice system if it gives a profit factor of 2 even though i don't know how it works, i can say a few things concerning the hedge style i use
- i wouldn't trade in that day for many reasons
- if i traded then would open a long trade then hedge that buy for a short profit to protect my original trade and according to the history both trades will win
Hold on a second, less than a year should it really count? its only a couple of hundred trades
It surprises me that any seasoned trader would even consider this. If the TP is hit on the 3rd Buy without any of the Sell TPs hit,There will be a small profiit on the 1st Buy, a larger profit on the 2nd and larger still on the 3rd. But the obvious thing is that the sum of these profits will not come near to balancing the total loss of the 0.06 lots on the Sell trades. Any chance of recovering will rely on price dropping to put the sell trades in a position where their losses are balanced by the profit on the buy trades. Of course there is no guarantee as price could just keep going up.
The surefire strategy that this is loosely based on relies on martingale entries and price breaking out of a range. When price hits a TP it also activates the SL on the losing trades. At least this makes some sort of sense, but it is still risky.
The above strategy is just based on wishful thinking.
I know that Fernando, but it it is important that somebody contradicts any strategy that has no substance. A lot of people that trade are dreamers and will eagerly follow anybody who claims to be successful.