jabu99
Established member
- Messages
- 524
- Likes
- 1
Likewise on Oanda
Likewise on Oanda
shoot2scoot
Active member
- Messages
- 150
- Likes
- 1
For the brave ones amongst you still Long, you might want to think about your SL as quite good support is sitting at the 1.6383 mark (Daily Pivot and 50MA) and i am guessing that that is close to where some of you have your stops? You might want to technically adjust them down to below this mark? I bailed I'm affraid because of the trend line and the 61.8 fib (see screenshot). good luck. Chris
Attachments
shoot2scoot
Active member
- Messages
- 150
- Likes
- 1
I should add that i don't expect a full reversal from this support, more likely a delay before continuing short. Possible retrace as far as my earlier posted trendline currently at 1.64079? This should reduce losses to 13 pips depending on exact entry etc?
wiseambitions
Established member
- Messages
- 764
- Likes
- 7
and same here.
talk about an under-performing system or what.
oh thats, right.. we already have
It's performing worse than random.
Take the setting of 40tp and 40sl, and in the last 25 trades it's only been right 32% of the time. By the laws of chance you'd expect a winning rate of 50%, and then relying on the bias that FMT gives on entry you'd expect to do better than 50.
I suspect that there is something atypical about the Asian session lately, for example involving China and the dollar, which causes a bit of push on sterling one way or another at FMT starting time, putting us into a trade, and where the market in London/Europe session does not concur with that price action and the inertia is lost, and we get dumped in SL.
Having said all of that I have found in the last couple of months that the new FMT recommended settings are doing less badly, by a long mile, than all the other settings.
Eg 35/45/BE+5@25 lost 75 pips in 25 trades (according to my observation) whereas 35/40/BE@20 lost 375. That I would say is a significant difference, so there may be something good about the new recommendation. I hope this means better profits for the avid followers when normal conditions return. And may they please do that soon!
Law of probability then states that this should start to experience a series of wins over the coming trades. If the system is currently performing below it's long term average then it should pick up any day soon. Strange as it may sound i have seen it happen too often. Unfortunately some people would have stopped trading by then and will miss the winning trades. Keep the faith
wiseambitions
Established member
- Messages
- 764
- Likes
- 7
Law of probability then states that this should start to experience a series of wins over the coming trades. If the system is currently performing below it's long term average then it should pick up any day soon. Strange as it may sound i have seen it happen too often. Unfortunately some people would have stopped trading by then and will miss the winning trades. Keep the faith
Yes, and that's why my plan says carry on at the same % risk, else miss the recovery when it comes!
I'm still in- waiting for that turnaround soon we hope! Incidently, surprised with so many getting signals to trade today as I had NT's on SLM and ThinkForex 6.15 - 6.45
Slurpeeforex
Member
- Messages
- 59
- Likes
- 0
NO TRADE Instatrade
andybissell
Active member
- Messages
- 198
- Likes
- 0
short.
