Well, my ATS went flat @229.48. Some short filters have been hit and the flag was violated but has corrected. Looks like my ATS is going to just sniff around for a while.
Tell me mrfrank. How did you develop your system? Just based on hours of observation or are their other areas to focus on?
Took over 2 years to develop. I used to focus on GBP/USD but time has shrunk the range. Over time I found I had to load more lots to maintain the same profitability. I knew GBP/JPY offered the movement I was looking for. I just studied charts and different TFs for months and experimented with different indicators. As time went on I found which TFs and indicators worked. Then came refinement. That required adding filters and experimenting with different entry and exit criteria and different scale out methodology. Once I found what I wanted, which was an aggressive upward PL with moderate risk, I set it loose. Demo at first of course then small lots. I still override the ATS at times. I also do 6 week backtesting every 2 weeks, use the most current completed 2 week period as out of sample data to see how the ATS is performing. Sometimes nothing is done, sometimes minor tweaks. If something is fishy I'll take it offline until I determine what the problem is or how market conditions have changed ... then I adapt. I run variants of the same ATSs on GBP/JPY, AUD/JPY, CAD/JPY & EUR/JPY. Different ATSs for GBP/USD, AUD/USD, GBP/CHF, USD/CAD, NZD/USD & CHF/JPY. Only a few full auto. I can set any of them to just flash a signal and all I have to do is hit 1 button to enter the trade. So basically I cherry pick the best signals based on discresion and/news ... something no ATS can do. If it could I'd be typing this post from a yacht moored off Montecarlo. I'll keep posting if you find value. I'm reading yours. Maybe we'll rub off. BMF
I rather trade with a close to a 1 to 1 profit vs risk. I have a 10% forex edge in that I am 60% winning trades future tested over a year with real money. Psychologically its easier for me to have more wins than losses.
Looking for a huge sell off too. Selling next rally. Daily Pivot is 228.35. Price will rally here and should sell of significantly.