Questions:
1- Is your initial stop the exact High/Low of the previous 5-min bar
or is it 1-tick higher/lower than the 5-min bar? And can you tell us
the reasoning behind your decision where to place your stop?
high/low + 1 tick. The idea is a very close stop. I stay only with the trades that go immediately into my direction. Otherwise I get out very quick without any big loss.
2- You state you "(will trail my stop on the entry) and then you
also say after 8 ticks you move your stop to b/e...? Are you trailing
your stop with an 8-tick increment at entry or ???
I trail my entry stop on 5 min until I can move my stop to b/e (in ym after 10 ticks, in er and ec after 8 ticks). Then I wait until I get kicked out or if I get filled on my first lot. If filled on my first lot I trail the second lot on the same time frame that I used for the entry (10/30 or 60 min.)
3- How do your trail your second lot with the 30/60-min bars?
And is this with the 10-min entries and/or the 30/60-min entries?
see above
4- Have you backtested this setup and are you running it with
an automatic program aka... StrategyRunner, ect.?
at the moment we at tradingeducators.com are working on Strategy Runner. We will start with some beta testers the next few weeks.
5- And will you be trading any RRhooks? And if not, why not?
just not used to it. sometimes I trade reversal if I get the feeling it's worth to take.
Sorry if I am asking too many questions...
asking too many questions is not possible....not in trading and not anywhere else.
happy trading,
andy
1- Is your initial stop the exact High/Low of the previous 5-min bar
or is it 1-tick higher/lower than the 5-min bar? And can you tell us
the reasoning behind your decision where to place your stop?
high/low + 1 tick. The idea is a very close stop. I stay only with the trades that go immediately into my direction. Otherwise I get out very quick without any big loss.
2- You state you "(will trail my stop on the entry) and then you
also say after 8 ticks you move your stop to b/e...? Are you trailing
your stop with an 8-tick increment at entry or ???
I trail my entry stop on 5 min until I can move my stop to b/e (in ym after 10 ticks, in er and ec after 8 ticks). Then I wait until I get kicked out or if I get filled on my first lot. If filled on my first lot I trail the second lot on the same time frame that I used for the entry (10/30 or 60 min.)
3- How do your trail your second lot with the 30/60-min bars?
And is this with the 10-min entries and/or the 30/60-min entries?
see above
4- Have you backtested this setup and are you running it with
an automatic program aka... StrategyRunner, ect.?
at the moment we at tradingeducators.com are working on Strategy Runner. We will start with some beta testers the next few weeks.
5- And will you be trading any RRhooks? And if not, why not?
just not used to it. sometimes I trade reversal if I get the feeling it's worth to take.
Sorry if I am asking too many questions...
asking too many questions is not possible....not in trading and not anywhere else.
happy trading,
andy