The perfect Take Profit - page 6
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I've picked up some trading from the guys in the MICEX algotrader. They make millions on pips. Up to 5-6 thousand trades a trading day. So, I decided not to be greedyand set TP12-15 pips. (4*marks). The strategy is justified. What TP to set, everyone decides for himself.
An ideal take profit can be readily identified with a function that controls the profit and exits the market if the maximum profit/loss fell by some percentage.
This looks more like a trawl.
I have a similar idea which boils down to closing or partial profit taking on large candles - exceeding the ATR by 3 or more times, and on a 50% pullback from the candle's maximum we open a position in the same direction... But again we need to test it.
Take profit is essentially a limit order. Therefore, it should be placed at possible reversal points. It would be more logical to use the reversal at TP points.
Sometimes it is, but not always - it is often a consolidation, and good if without strong amplitudes...
Which is more likely to be a trend reversal or a continuation? I think the theory is correct - continuation...
There is a discussion on stoplights in the English forum
https://www.mql5.com/en/forum/11736
This looks more like a trawl.
I have a similar idea which boils down to closing or partial profit taking on large candles - exceeding the ATR by 3 or more times, and on a 50% pullback from the candle's maximum we open a position in the same direction... But again, we need to test it.
Yes Alex, it is a very lively idea
As for my variant, it's a flexible take profit trall, depending on market movements
This is the main drawback of an ordinary trawl, no matter what it is, it has no flexibility and adaptivity to market movements
When developing a trading system it is not uncommon to ask the question, what is the most ideal moment to exit their trade in profit? Stop Loss is by definition an option to take what is left of the maximum profit, so I am interested in options for calculating the take profit point.
Right now I use to determine the take profit point:
1. moving average +/- indent;
2. RSI indicator levels 70/30;
3.Fibonacci levels of 123.6% / 138.2% / 150% and -23.6% / -138.2% / -150% (but I do not know how to automate it).
What do you use?
I am using my indicator signals and, so far, successfully.
What is the basis of your indicator?
By analysing the history, it determines the market condition and generates market entry signals:
1. Stable buy - trend coefficient = +3, draws one buy line, clearly recommends "Bai";
2) Unstable buy - trend coefficient = 1, draws 2 lines: buy and sell, recommends BUY;
3. unstable buy-sell - trend coefficient = +1, it draws 3 lines: buy, sell, and buy, switching to sell; the recommendation depends on the momentum and location of the transitional line on the price chart;
4. unstable sell - trend coefficient = 1, draws 3 lines: sell, buy and sell changing to buy, the recommendation depends on the position of the moment and the place of the transition line on the price chart;
5. unstable sell - trend coefficient = 1, draws 2 lines: sell and buy, recommendation is "Sell";
6. Stable sell - trend coefficient =-3, draws one sell line, strongly recommends a "Sell";
Signals to exit the market are, respectively, the opposite signals of the indicator. Approximately like this, to make a long story short. Download it from the kodobase, analyze it, learn to understand it and use it in your work, when you will have a relative confidence in its correctness.
PS: If the moderators feel that my reply is advertising, I agree to have this and the previous posts taken down without trace.