Hi Mata Nui. It's easy enough to create a mechanical rule if we want to. It sounds as if you have tried to. Eg one possible mechanical rule would be: "if 50% or more of nose sticks out from previous bar, aim for pivot, otherwise aim for 1:1". But would such a rule give better returns than eg...
Hi Pocrel and everyone else, I'm an occasional reader of this thread. I have a suggestion which may improve Pocrel's system. I haven't done any research to back it up, so it's just a suggestion to think about.
Here's the suggestion. Pocrel sometimes aims for profit at 1:1 and sometimes aims for...
Hi Patrick. Thanks for sharing your system (as I've said before)! Apologies! Now I've checked, I see you don't trade USDCHF - although livecharts give the pivots. And you don't trade Brent? Yes I won't post trades outside your markets. Yes I won't post trades outside your trading times (830am to...
Hi Pocrel, thanks for listing the results for today.
The cable pin was 11 points long by my chart and the audusd pin was 12 points long by my chart. So fixed stops 1:1 R/R would have yielded eight winners and two losers, as follows:
cac +10
gold +48
brent +65
wti +45
usdjpy +11
eur/gbp+8
cable...
Yes exit strategies are impossible to work out. But I've had a go anyway! From what you've said it sounds as if my assumption that 30 trades made it to 2:1 R/R is too high?
I'm trying to work out the best simple exit strategy for Pocrel's system, based on DDI's statistics. Thanks to DDI for providing the statistics!
I'm assuming you risk £100 per trade.
Consider fixed stops 1:1 R/R. 68 trades won. 32 lost. Profit/loss = £6800 - £3200 = +£3600.
Consider fixed...
Sorry, I easily get confused about ratios. You mean that of the 50 trades that hit next pivot level or 2:1 R/R you estimate that three fifths (= 30) hit 2:1 R/R?
I'm trying to work out the best exit strategy based on your statistics. I'll post some figures later.
Hi DDI, thanks for sharing your experience of trading Pocrel's system. I can see that one way I can improve my trading is to be more organised in checking the charts!
Can I ask you one more question about your stats? Of the 50 trades that hit next pivot level or 2:1 R/R, do you know how many...
Hi DDI, yes, thanks for posting the stats. Yes, they are impressive! Can I just double check something with you? All the trades followed Pocrel's system? Livecharts pivots, stop loss = 1 pip above or below the pin, pin cuts pivot, etc?