wiseambitions
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anyone who reset to BE might have got stopped out now
I dont know what this rally is about, perhaps french employment news
I dont know what this rally is about, perhaps french employment news
RedGuerrilla
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Following the rules . . .
Should have hit the stop loss at BE but the move was very fast, so lost 5 pips
Total: +63
Should have hit the stop loss at BE but the move was very fast, so lost 5 pips
Total: +63
I've been stopped out. Are you guys on "better" settings than the defaults? Or have I got something set wrong?
bluedancer
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I've been stopped out. Are you guys on "better" settings than the defaults? Or have I got something set wrong?
backtesting shows in the long-run holding for the EA default settings to take effect is better than changing the settings
however to improve performance many people close trades on their own. You are not wrong... best is to get used to the EA and the trade and adjust if you need for your preference.
Agree 100% with the above statement.
-current settings are best over the past few months
-before higher TP settings was best
-if a trader closes early on a regular basis i.E 22 pips and leaves the SL unchanged, he alters the system big time, because he changes the risk:reward ratio to the worse.
The only way to do "better" than the system is a day like today, where a clear reversal happened on a strong SR level and the trade should have ended BE.
If a trader has experience, he could have closed near the Support level and walk away with 24 pips.
That does not mean, that taking 20-22 pips all the time is a good technique!
MHK
-current settings are best over the past few months
-before higher TP settings was best
-if a trader closes early on a regular basis i.E 22 pips and leaves the SL unchanged, he alters the system big time, because he changes the risk:reward ratio to the worse.
The only way to do "better" than the system is a day like today, where a clear reversal happened on a strong SR level and the trade should have ended BE.
If a trader has experience, he could have closed near the Support level and walk away with 24 pips.
That does not mean, that taking 20-22 pips all the time is a good technique!
MHK
BorisViven
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The rules say that BE is 20, which is to say we expect that price will move at least 20 pips in the direction of our trade. Typically no less than 22 pips. Therefore running the EA on two charts with a TP of 22 and all other settings as default according to the rules Nets me 44 pips or at worst BE on most nights. An extra 9 pips per night.
On those rare occasions when price does move against us and hits SL I should have banked enough extra pips to deal with the extra exposure for that night. At least this is working for me. Call me crazy....
I am not awake most nights to trade this session, so I do the next best thing.
tk ea?
Seems to me, some do not understand my point!
-"The system as is" is solid and profitable
-any change to such a system must be carefully thought through(this seems a problem here)
A. Setting up a seperate chart and trade with TP=20 and SL=40 does not give you any advantage, because your risk reward on that trade is 2:1, while the original system maintains its 1.1:1!
You need 2 winners to make up for 1 loss!
If you trade equal lotsize, you have an overall risk:reward of 1.6:1 vs 1.1:1.
B.The extra edge can only come from netting more pips!!!!
How?
On a BE day, you must do better than 0 pips!
very easy, very clear,
MHK
-"The system as is" is solid and profitable
-any change to such a system must be carefully thought through(this seems a problem here)
A. Setting up a seperate chart and trade with TP=20 and SL=40 does not give you any advantage, because your risk reward on that trade is 2:1, while the original system maintains its 1.1:1!
You need 2 winners to make up for 1 loss!
If you trade equal lotsize, you have an overall risk:reward of 1.6:1 vs 1.1:1.
B.The extra edge can only come from netting more pips!!!!
How?
On a BE day, you must do better than 0 pips!
very easy, very clear,
MHK
I understand the risk reward ratios. But I am also factoring in the win:loss ratio. Losses are few and far between. I wouldn't be running the two charts if I wasn't netting more pips. I am netting 44 pips vs the standard 35.
Perhaps my point is being missed? Oh well.... To each his own!
Perhaps my point is being missed? Oh well.... To each his own!
Yupppppppp!
And on a loser you are netting -80, while the standard loses 40.
Afterwards, you need 2 winners to make your loss back and we only 1!
Looking into history, 4-5 losses in a row are very possible to happen.
While you than need 10 winners in a row.............
But certainly you figured that out before you setup your 2 charts.
Note:
Since we Brits are always fair:
A quick Backtest on the past few months shows good results for the 22TP+40SL strategy as well!
On a longer backtest the lower TP neither increases profitability nor reduces the total number of losses.
It simply comes out with 38% less total profit.
MHK
Last edited:
wiseambitions
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Just a few observations about re-setting stop losses, November 1 to 16 inclusive.
There have been 6 days in the last 12 (Nov 1 to 16 excluding weekends) when resetting the SL to BE would have had consequences: (using the prices of my own broker where I trade manually).
On 11 and 16 November it would have saved full SL of 2 times 40 being suffered. (80)
On 4 8 and 12 November I found that I would have been stopped out of the trade with no profit opportunity and would have missed out on 3 @ 35 i.e. 105.
At the end of the exercise I believe there is a beneficial difference just in those days of 25 pips for not having amended the SL to BE upon being 20 pips in the right direction.
These figures are hardly of any statistical importance, it needs a bigger data set. But I believe Mark has made a wise suggestion in reducing TP from 40 to 35 and therefore for the present time I'm going to stick with the easy option of setting the stop and limit immediately after entering the trade at 6.30 am and letting it run its full course.
There have been 6 days in the last 12 (Nov 1 to 16 excluding weekends) when resetting the SL to BE would have had consequences: (using the prices of my own broker where I trade manually).
On 11 and 16 November it would have saved full SL of 2 times 40 being suffered. (80)
On 4 8 and 12 November I found that I would have been stopped out of the trade with no profit opportunity and would have missed out on 3 @ 35 i.e. 105.
At the end of the exercise I believe there is a beneficial difference just in those days of 25 pips for not having amended the SL to BE upon being 20 pips in the right direction.
These figures are hardly of any statistical importance, it needs a bigger data set. But I believe Mark has made a wise suggestion in reducing TP from 40 to 35 and therefore for the present time I'm going to stick with the easy option of setting the stop and limit immediately after entering the trade at 6.30 am and letting it run its full course.
Run two lots with a 35 PT and you would be netting 70 instead of 44.
