20 point stoploss- are you using this?
Trendlines- you mention trendlines previously but these are not part of the system
Moving stop to breakeven at 5 point profit- then trailing- are you doing this?
I think you also responded to some of the points i raised earlier as 'use your common sense'- when i was just suggesting following the rules- so-- i don't know what else you are or are not doing.
It would be great to get a proper backtest of this strategy done- over at least 500 or so trades to get a real idea of potential profits or losses.
The above parameters you mention were for you alone. I am using the original rules. below is the quote from TRO (page 45)
THESE ARE FOR UKTRADERGIRL ONLY!!
What other indicators? I stated that you do NOT need indicators.
One trade per hour? OK, only enter one trade per hour. Isn't that enough?
Profit? Stop Loss? Do this, SL=20. Once you're up 5 pips, move stop to break even. Once you're up 10 pips, uses a 5 pip trailing stop.
Markets are dynamic. You have to adapt. Every see THE MATRIX?
Price can either move UP or DOWN and PRICE WILL MOVE UP OR DOWN. By having FIXED entries and exits, we are taking advantage of the fact that PRICE MOVES.
Either you SEE this on the chart or you don't.
Look at the chart above. What is the SHORT ENTRY PRICE? What is the LONG ENTRY PRICE? You know EXACTLY what to do and when to do it AHEAD OF TIME. You will NOT win every battle, but you will win the war!
Bunny
p.s the only comment of yours that I responded to with "I'm using my coomon sense" was when you asked about an entry that was too far away (you quoted the 2nd line away from the open) which was already over the ATR.
p.p.s I'm not "doing anything else" how can I be? I'm simply taking the entries as they cross the line and putting in the inital stop, and then moving it when it cross the next line to lock in some profit. Also, I havn't avoided taking any trades for any made up reason, nor have I entered anywhere I wasn't supposed to....in other words I have not used any discretion in taking these trades. I may have used discretion in the exits..but that's another matter.