Discuss Simple Price Based Trading System here. Simple Price Based Trading System is a simple Forex trading strategy based on the position trading. You can ask any questions about this strategy here.
Hello,
Concerning your system, what kind of results have you had since you first started. Are you making money with it,do you pay any attention to support/resistance levels and trendlines, what time of day do you apply this technique, and how many trades per month do you average, and what is your win/loss ratio?
Thanks
Shell
Concerning your system, what kind of results have you had since you first started. Are you making money with it,do you pay any attention to support/resistance levels and trendlines, what time of day do you apply this technique, and how many trades per month do you average, and what is your win/loss ratio?
Thanks
Shell
wants to hear more
Hi Enivid
I would like to learn more about your system. Would you mind if I gave you a phone call on this subject. If so, you can send me your complete phone number at my email address: shazen@telus.net. What country are you in, and the best time to call.
Shell
Hi Enivid
I would like to learn more about your system. Would you mind if I gave you a phone call on this subject. If so, you can send me your complete phone number at my email address: shazen@telus.net. What country are you in, and the best time to call.
Shell
Hello...
I ve been backtesting this strategy and it looked impressive until I came up with a confusion. For example if my open price is 1.5000 and my current price is 1.4920, my key value will be 1.4920 * 10 which is 15 (rounded off ). So my buy order will be at 1.4920 + (2*15) which is 1.4950 and its stop loss will be 1.5000 - (2*15) which is 1.4970.... How is that possible.. how can that be my buy stop loss... Please advice... Ur reply wil be highly appreciated..
I just come across your stractegy and I am interested.I am a new comer to forex trading, please are you making good profit with it.After calculating all the inputs,I tried to set it up but only one set can be inputed. Can yuo please put me through. Thank you.
I do not use it for trading and it wasn't developed by me, but I can try helping you. What do you mean by "only one set can be inputed"?
What I meant is that after calculating the Buy Order and Sell Order,I tried to set up those values, but only one set could be inputed. When I finished setting the Buy Order with all the stop loss and take profit and I tried to set up the Sell Order, the platform MT4 doesn't accept those values, it tells me invalid SL/TP. Please what can I do because I feel that if I can try the stractegy for about 2weeks, then I can know the reliability of the trading stractegy. Thank you.
I remember I've tried to write EA for this strategy about two years ago. It wasn't profitable for me. Care to show your EA?
Hi Envild......GOOD EVENING
This is raju from india ... I have trying your price based trading strategy... I like this method & specially i m following your rules & regulation which u you are given instruction to pending order........but i could not understand u told set expiration in 60 minutes ( 1 hour ) or close your untriggered order in time frame ends.....pls tell me if order not taken or untriggered in 1 hour after place the order ....if both order are not triggered then both order DELETE IT,,,,,,,,,,PLEASE CLARIFY ME ONCE........As well as which time frame & which time better to place order...........
THANKS
This is raju from india ... I have trying your price based trading strategy... I like this method & specially i m following your rules & regulation which u you are given instruction to pending order........but i could not understand u told set expiration in 60 minutes ( 1 hour ) or close your untriggered order in time frame ends.....pls tell me if order not taken or untriggered in 1 hour after place the order ....if both order are not triggered then both order DELETE IT,,,,,,,,,,PLEASE CLARIFY ME ONCE........As well as which time frame & which time better to place order...........
THANKS
Hi Raju!
You should delete both orders if they are not triggered when the next candle opens. For example, if you trade on H1, then expiration is 60 minutes. If you trade on H4 timeframe, then you cancel old orders when a new H4 candle arrives (i.e., in 240 minutes).
The best timeframe for this strategy is H4.
You should delete both orders if they are not triggered when the next candle opens. For example, if you trade on H1, then expiration is 60 minutes. If you trade on H4 timeframe, then you cancel old orders when a new H4 candle arrives (i.e., in 240 minutes).
The best timeframe for this strategy is H4.
The adage that a trader should only look for trades where the risk exceeds the rewards is false. For example, the majority of volatility breakout systems require stop placement much further away [from where] the average net profit is. Of course, these durable and robust systems also have relatively high win-loss ratios.
Since the aim of every trader is to make profit, the ability of the trader to reap rewards that far outweigh the risks of a trade will depend on how these two factors, risk & rewards, are managed. The overall profitability of a forex trader is a product of the balance between the risk and the reward. As we all know, losses in forex are inevitable. Therefore, the essence of trading is not for every single trades to be profitable but to ensure that the combined profits that are made from the profitable trades can offset the losses from the losing trades, even if the number of losing trades exceeds the number of profitable trades.
Price based trading system means finding signals from candle. There are different types of candle such as reversal, continuation. From reversal price candle, we will get signal and make profit from it. This simple price based system works well if you can read candlestick accurately.
I, personally, do not use this strategy. You can read more about using the link in the first post of this thread. If you have some specific questions, feel free to ask them here.
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