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Baruch's Forex System Journal
- Thread starter Baruch
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Baruch,
In addition to adjusting the trailing stop level, a couple other things you can try doing:
1) Scale into positions, or take a few smaller ones at the time you would have taken one larger one. You can then take profit on however many you want, and let the other(s) run unabated.
2) Something I've done a few times when I'm there to watch it and it's really moving fast in my favor, is let a position go until it hits a pre-determined target, then pull it off and re-establish it. This might also work pretty well if combined with option (1).
In addition to adjusting the trailing stop level, a couple other things you can try doing:
1) Scale into positions, or take a few smaller ones at the time you would have taken one larger one. You can then take profit on however many you want, and let the other(s) run unabated.
2) Something I've done a few times when I'm there to watch it and it's really moving fast in my favor, is let a position go until it hits a pre-determined target, then pull it off and re-establish it. This might also work pretty well if combined with option (1).
Baruch,
I have noticed some key points in the FX mkt that is not consistant in the E-mini's:
the intraday chop is more constant and the breakout trends more mature.
have you considered trading the 4 hr charts and looking at taking fewer pips out with greater size?
just a thought.
I have noticed some key points in the FX mkt that is not consistant in the E-mini's:
the intraday chop is more constant and the breakout trends more mature.
have you considered trading the 4 hr charts and looking at taking fewer pips out with greater size?
just a thought.
Quote from SteveL91:
Baruch,
In addition to adjusting the trailing stop level, a couple other things you can try doing:
1) Scale into positions, or take a few smaller ones at the time you would have taken one larger one. You can then take profit on however many you want, and let the other(s) run unabated.
2) Something I've done a few times when I'm there to watch it and it's really moving fast in my favor, is let a position go until it hits a pre-determined target, then pull it off and re-establish it. This might also work pretty well if combined with option (1).
Hi Steve,
Yes, good ideas.
Quote from Guardian Angel:
Baruch,
I have noticed some key points in the FX mkt that is not consistant in the E-mini's:
the intraday chop is more constant and the breakout trends more mature.
have you considered trading the 4 hr charts and looking at taking fewer pips out with greater size?
just a thought.
I again,
Yes, but only use 4 hr chart?
Baruch,
If possible could you at some point repost your strategy as it has clearly matured since the beginning of this thread, then I can easily see what stage it is at without having to read 180 pages.
If you like you can also post the known weaknesses of the strategy then people can give you some ideas of how to tackle the weaknesses.
Hope that makes sense.
regards
If possible could you at some point repost your strategy as it has clearly matured since the beginning of this thread, then I can easily see what stage it is at without having to read 180 pages.
If you like you can also post the known weaknesses of the strategy then people can give you some ideas of how to tackle the weaknesses.
Hope that makes sense.
regards
Quote from Baruch:
Sorry - too much wine:
Hi again,
Yes, but why only use 4hr chart?
Baruch,
i have heard that the 4 hour chart is a composite of world markets consisting of U.S. Japan Europe and Asia.
as the saying goes it is supposed to represent when each one of these enters into the market in thier respective time zones, if you look at the 4 hr chart it will show you a break down of sentiment during the respective time zones and lead to what is said to be semitry between supply and demand.
don't get me wrong- im no pip pimp and i know that i only trade a mini forex account so that i might learn how to trade this market but i do see some of the relationships within the 24 hr timespan.
Quote from peugeot205:
Baruch,
If possible could you at some point repost your strategy as it has clearly matured since the beginning of this thread, then I can easily see what stage it is at without having to read 180 pages.
If you like you can also post the known weaknesses of the strategy then people can give you some ideas of how to tackle the weaknesses.
Hope that makes sense.
regards
peugeot,
The rules are the same - but I am now using momentum instead of rsi. Or I use both.
The known weaknesses? Exit and the indicator.
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