I have drawn the entry points , not all of them will give 12 points , but a lot of them will.12 points is spread over many pairs (not just euro usd), these include gbp/gbp,euro/yen,gbp/usd,usd/cad,aud/usd etc I also use a support and resistance and contrarian method to complement trend trading.This other part of the method makes up the rest.If you read the whole thread , you will find the random contrarian trades posted . Friday was a good trending day, but the combined method works in narrow ranging days and choppy days.
bstay: just thought a side by side comparison would be much easier for other traders to discern. however, if other want to see the rest, email me. be glad to do the rest.
bstay: just thought a side by side comparison would be much easier for other traders to discern. however, if other want to see the rest, email me. be glad to do the rest. [/B][/QUOTE]
Would your system have performed better if you also consider the various dead times in spot forex market? Just a suggestion below based on New York timezone: 5pmEST to 7pmEST - don't trade as liquidity is low following 5pm roll-over/settlement time, even though in reality it is only a few seconds of computer transactions. 8pmEST to 11pmEST - Tokyo/HongKong/Singapore session, ok to trade. 12amEST to 1amEST - usually low liquidity. 2amEST - Paris/Frankfurt open 3amEST - London session, best time to trade from 2am to 6amEST bearing in mind the 4:30am GBP news window. 6amEST - Paris/Frankfurt lunch time. 7amEST - London lunch time. 7amEST to 8amEST - usually low liquidity ahead of major news releases in New York open. 8amEST to 11amEST - New York session, second best time to trade, taking into consideration 9:30am equities open to gauge north american market sentiments. 11amEST to 12pmEST - London session close and New York equities market goes into lunch doldrums. at best counter-trend reversals. 1pmEST to 5pmEST - usually consolidation in New York afternoon to trap trading volume for the 5pmEST rollover, really boring to trade. Consolidation does not mean prices are in middle of daily range, they would be held at HOD (high of day) or LOD (low of day) just narrow range sideways to prevent taking profits in order to hit roll-over interest charges. Of course these are just typical, everyday is different and market don't work exactly like clockwork. Just saying there are times to trade and there are times to just do something else. the 24hrs spot forex market actually has "trading windows" to best put on your system trading.
These are in New York timezone, Quite sad to see you put on trades randomly just to pick 12pips, when there are times to trade and times to avoid. These are considerations for intraday trading, and not relevant on 4hrs and above timeframes which might be why you keep insisting that trends don't work in lower timeframes. The trends do work, you just didn't factor in the liquidity windows. It's like trying to trade gap openings in equities at 9:30amEST, and wondering why there is no movements between 12pmEST to 1:15pmEST, ..... well traders go to lunch in the old days and now people just tend to avoid out of routine like "Pavlov's dog" syndrome. You don't care about gaps or lunch doldrums if you trade on Daily/Weekly/Monthly charts. They are just considerations for equities intraday but not for higher timeframes. Again, this might be why you think intraday is choppy, ..... if you don't understand the market you trade in, it will seem choppy.
Well it's choppy if you see it your way, But definitely not choppy if you see it our way, when we identified where the Tokyo/London/New York sessions are in perspective, and see how prices have already moved it's average daily range during asian session for 128pips (first blue box) so what do you expect during european session?
Nothing but chop is expected in european session after a trend in Tokyo session. This is the problem trying to find trends to trade during the day.Changing to trading in different zones and changing trading sessions has its own psychological and other problems like changing sleep patterns, tiredness,loss of confidence etc
What is the trader supposed to do if market become non trendy for an extended period of time , like 2006 to mid 2007? My main session is frankfurt,U K and U S sessions , beyond which I will not trade due to fatigue.