Trade + forward-test update - 2 Strat confluence - GBPUSD - Long
I trade 2 different strategies , one for trending market (BC) & one for consolidation (SHS).
A special situation has occurred here where I have a signal from both strategies to long.
As I trade both of these as separate entities with separate risk allocations, orders have been placed for both strategies. Unfortunately, the entry requirements for the strategies are different so the BC trade would essentially be stopped out for me to get involved in the SHS setup. Taking this into consideration, always assume the following scenario will occur (worst scenario).
BC is triggered and stopped out ---> SHS is triggered and stopped out (-1%)
OR
Neither is triggered in ---> would-be targets are hit (+/- 0%)
Ofcourse, there is plenty other feasible outcomes at this point which are less likely at this point given my win rate but the best possible scenario at this point would be :
BC is triggered, targets are hit at 4.5:1 (+2.25%) ---> retracement -----> SHS is triggered in, targets are hit for 10:1 (+5%) = 7.25%
Another possible scenario is BC is triggered and targets are taken where SHS targets are = 13.5:1 = +6.5%
A month of testing is coming to a close this week and results so far have been encouraging.
(all trades are privately posted and put on my spreadsheet which can be found on my status if anyone is interested)
Lets see what kind of scenario develops here.
This is not a signal, please trade at your own risk.
A special situation has occurred here where I have a signal from both strategies to long.
As I trade both of these as separate entities with separate risk allocations, orders have been placed for both strategies. Unfortunately, the entry requirements for the strategies are different so the BC trade would essentially be stopped out for me to get involved in the SHS setup. Taking this into consideration, always assume the following scenario will occur (worst scenario).
BC is triggered and stopped out ---> SHS is triggered and stopped out (-1%)
OR
Neither is triggered in ---> would-be targets are hit (+/- 0%)
Ofcourse, there is plenty other feasible outcomes at this point which are less likely at this point given my win rate but the best possible scenario at this point would be :
BC is triggered, targets are hit at 4.5:1 (+2.25%) ---> retracement -----> SHS is triggered in, targets are hit for 10:1 (+5%) = 7.25%
Another possible scenario is BC is triggered and targets are taken where SHS targets are = 13.5:1 = +6.5%
A month of testing is coming to a close this week and results so far have been encouraging.
(all trades are privately posted and put on my spreadsheet which can be found on my status if anyone is interested)
Lets see what kind of scenario develops here.
This is not a signal, please trade at your own risk.
Trade active:
BC active
Trade closed: stop reached:
BC stopped out, SHS triggered in
Trade active:
SHS in
Trade closed: stop reached:
-1% total, not meant to be this time
on to the next
on to the next