Discussion in 'Forex Trading' started by jrlvnv, Jan 17, 2011.
91 pip stop/profit. Will reverse if stop is hit
Sunday Jan 16th 10:44pm pst
imho still not time to short 60 % secure
i'm testing out a system I thought of. Currently long at 1.3408. Seems like the MLK weekend wasn't the best time to get my trade on. Will reverse again -91 pips
wasn't the best time.... Maybe, but a few hours after you put that trade on, you almost hit your 91 pt target (if I read that correctly). I was trading that early a.m. and I thought you put on a great trade. Good luck with your long trade.
Thanks. I have just been looking at forex charts and doing some reading from some venders. One night after a few cocktails I pulled up a chart and went back several days.... I had a "moment" spent the next few hours going back several months and saw it work time and time again. Now not every trade works but the ones that don't I reverse to see it work mostly the second time. The ones that don't work the second time 99% of them work the 3rd time. I have seen one go to the 4th but that was it.
So all I do now is look at my computer for 5 mins a day, put in a order and update it when the trade opens. Now I do not have a lot of money in this account since I have a feeling this is just a fluke thing but it is interesting none the less.
Now back to my reply to you... One my trade is triggered, I have seen some very beautiful set ups occur. Wish I could trade those but I just don't have the time to put in. Working a 8 hour job gets in the way of a lot of things I like to do.
Wait, so your risking 91 pips to get 91 pips profit? doesnt that make your risk reward 1:1?
Yes it does, through MY research I feel my win/loss with doubling down on the reversal of my set up gives me a positive result
What are you using for your backtesting?
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