FX:AUDUSD   Australian Dollar/U.S. Dollar
Will this particular trade end up winner or looser? I don't know. I even don't care. The only thing I know is that in a series of 100 trades or more I have odds in my favor. So I repeat the same actions again and again and consistently make money.
net net net :)
nice set up I also trade this pattern too, but not at this time frame. Seems to be that you have listen a lot to the tradeempower team a lot. I also like them. I miss your targets and stopp loss on the graph. Good trading. Regards, Peter
+1 Reply
I use 1,113XA for stops and 0,382AD/0,618AD for targets. Yes, your are right, I saw lots of Akil's and Jason's videos. They inspired me to make my own market research to develop my own trading style. I don't say that this style is invented by me. I wanna say that having done a back and forward testing work I found this style very comfortable for me, which fulfills my needs. This discovery through backtesting gives me discipline to obey the rules)).
Before becktestings I also traded advanced patterns, but my trades looked smth like this: "You know, man, this bat is almost perfect. Its B is just one pip away from 50. Different brokers have different quotes. I will enter it...", "Well, it almost hit my first target, but turned back. Let me take the money, before it hits my stop loss...", "Oh, price is one pip away from stoploss. It's all over. Let me close the position and save this pip.", "Man, this bat's XA is only one pip larger then your max requirement. You know that larger moves are more precise, and smaller mover usually have much noise"... And so on, and so for)).
I always tried to break the rules, because I had doubts. "I only break my rule THIS TIME. Next time I won't. I just need to take this bat...". And know what? If the trade turned a winner, then I became to believe that I didn't need that particular rule at all.
When I have done my backtestings I clearly saw that EVERY rule was needed, and breaking just one of them shifts the statistics. Now i have no problems with executing the same actions egain and again))
Omnishambles Alexander_Nikitin
Nice one. Well done! I see your earlier ideas were all on higher time frames but lately it lower time frame - is there a reason behind that? Also, if I may ask, how did you go about backtesting? Did you use some sort of software, code it yourself, or did you do it manually by going back through the graphs? Thanks in advance and stay sharp!
Alexander_Nikitin Omnishambles
Only manually, scrolling bar by bar, as if I I've been given quotes realtime)).
I just like intraday, that's why I switched to M5))
closed half of my position and moved stops to breakeven)
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