EURUSD$ produced a nice little bull run to close out the end of the holiday trading week. I hope you guys took advantage. The set up was pretty obvious. Have a wonderful weekend!
That's signals from my trading system. It fires the signal on Tradingview and I have a extension, bridge and an expert adviser that places automated trades on my MT4 platform.
This is a system you invented yourself? Is it a combination of technical indicators? What is the win % of this system?
This is a system that I invented that uses a few technical indicators and a set of custom calculations as well. The win % isn't as important as other factors like, Sharpe Ratio (3.0+) but it has a 65.7% win rate.
No, if you have everything set up on a VPS then it's a set and forget strategy. I watch it place trades unless I have something better to do. Being a full time trader (if you can call it that,) I tend to have extra time on hand most days.
Do you set take-profit and stop-loss when you enter the trade? Do you win and lose the same amount? Meaning, do you set take-profit at "x" and stop-loss at "-x"? Or is take-profit 2x, or 3x? Do you have a set dollar amount that you risk on every trade? Or a certain percentage of your account value?
I don't use stops and i let the market tell me when to take profit. For instance, EURUSD current range is allowing me to take 40 pips per trade. Anything above that is risky. My system closes any open trades when i get a sig going the opposite direction. That's my stoploss and a way to keep your stops anonymous from institutions. If you get my drift.