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My experience is that stops usually hurt the overall performance but that they're necessary for me to have peace of mind. So I usually use stops that are very far and seldom hit. And I know what my grand maximum loss can be.

Thank you for your contribution. I added the a/d ratio (great idea). This makes the strategy positive: 1/1/08 - 9/1/08 (bear market) 71% 1.30 Avg Trade $157 28 trades total profit $4405 The only problem I see is that it has reduced the number of trades considerably. On the short...

I've programmed this into Ninjatrader and tested it for 10/05 to 10/07 (bull market, long trades only) and I get: 52.08% ratio win/loss 1.27 avg win: $20.65 Sharpe Ratio 0.45 Total net profit $2973.80 Max drawdown 2.61% Overall I don't think this is a profitable strategy. But if...

Try setting your chart to show 60 minute bars for 1 year of data. Then look for the S/R levels which turn price around. look for when price just stops and retreats, or when it finds support and comes back up.

Thanks for reporting back, I appreciate it. I had to scrap my strategy. It was basically buying the low and selling 4 ticks later. Well almost. If only it were that easy! :) I have yet to come up with something profitable but I keep working on it. I get the feeling that so many people...

I'm curious how the OP ended up? I just realized, after reading this thread, that the strategy I'm working on has entries and exits on the same bar. Which explains why the results are not as good when I go to smaller bar size. ;) Thanks to all for the information, and I hope the OP will...

This isn't the first time I've heard this and I'm starting to think it could be better in Asia, notably Singapore.

Thank you for your contribution. I agree with what you wrote. I think the key would be to take advantage of my wife's status as a European resident who is not American and therefore free of the IRS. As for her having to pay taxes in the US.. I think if she is employee of a company in BVI or...

I didn't realize he was using 1 min chart. that's interesting. I'll have to go back and try that. I haven't had any luck putting a stop 8 ticks under an entry because the ES usually advances and then retraces around 50% before advancing again. I think it's common for it to go under support...

I've never traded anything less than a 5min chart, so this is interesting. I'm curious why you didn't set a stop on a close under the support? Those tails hanging under the support was a good indication that support was going to hold.

He may be referring to Fx where you said you didn't use your normal setup. I've been putting a limit order and if I get filled then I manage the trade. The problem is guessing how the price will react to the support or resistance. I set my stop under support. I'm currently struggling...

In France it's 50%. ;)

Is IB ok? I hate to open another account because that would divide up my capital.

Since you trade ES & Forex, is it better to trade Forex for currencies or Futures? The main problem with futures for me is the liquidity.. outside normal trading hours for the US, the liquidity is pretty bad. My chart is very similar to yours. What I don't get is how you drew the top...

I don't live in Spain, but most European countries have a lot more tax than in the US. I'm not sure how that relates to capital gains taxes.

This makes perfect sense and seems to be completely legal. The compounding of the 35% could be very important over 10 years or more. But one day all that money is in the account and it has to come out. And then one would either revoke citizenship or pay the tax man. :)

This US taxation policy is rediculous. I know Americans who have never lived in the US and who have never declared a US tax return. I have no idea what would happen to them if they one day decide to live in the US. I've been declaring my taxes even though I live outside the US, but my...

I'm trading currency futures, not forex. I've heard too many bad things about forex, not sure if they're true but I understand futures so I stick with that. I understand the 3:1 part. I often try to get a setup that is at least 3:1. The problem is we may know the ratio but we don't know...

Those are interesting ideas. I'm not sure if it's better to pay taxes in Spain or pay no taxes in Ireland. ;) Maybe establishing a main residence in ireland and a smaller residence in Spain would be a possible solution?

Let's say we enter long on support and now stay long and price approaches the next resistance level. And price is at the upper bollinger band. Do we reverse and go short? I ask because this is exactly what I did and I got burned pretty bad by the Euro. It staged a pretty big breakout...