Forex strategies revealed | FSR Forum

hi folks,

i have been very busy at university, but at the moment i have fun at forex again. At the moment i am interested in "stochastic" strategies like the strategy in the topic. ( http://forex-strategies-revealed.com/simple/simple-trading-with-daily-range).
I like the way this strategy is built.Without any emotions just taking the price action. Thanks a lot for it!!!
Of course i tried to use it, but i have a special problem. I use the excel sheet from the poster. What for a stoploss should I use?-in the discussion there is often the meaning to use 2x ATR. At the first posting of the strategy Stuart was talking of 10 Pips...in the sheets are 100 pips a standard.

But this is not my mainproblem. I do not know how to set my orders.In this strategy we have to first set a buy stop. In Metatrader I click on Order and want to make a pending order.ok.First i want to make the Long Order. This is a buy stop and the price for it stands under "Long" in the sheet. The TP and SL are in the sheet too. Everything fine, i have got a good MM (0,5%risk/pair/day) and the order ist set.Now i want to set the short side (sell stop) of a pair. I give in the settings from my sheet but everytime there is an error and i get the message that my TP and SL are wrong.Why this?-I attached the sheet.

First time i forgot to set the "move" to 0.0100 when the move was under 100 pips for a day.But the error is there too when i make it right.

When someone of the pros could answer it would be fantastic!!

Ahh, also i use the timeframe from 10 PM DST---->10 PM at the other day. NY Session is closed then and i can take tokyo + The Opening of the other sessions in the morning.

best greetings,


Ghaz

nobody here, who can explain in short words how to realize this stretegy?
Could it be, that the new Forex rules on some brokers dont allow it set FOR AND AGAINST a pair?


thanks a lot!!!


Ghaz

Ok.. help me to figure it out.
Do you have an error in the Sheet or do you get an error in the MT4?

If it's MT4 problem, than it has to do with hedging rules for your broker.

hi,

i am VERY happy that somebody answers my question.
Last day i calculated this strategy by brain and a piece of Paper. After entering the trade everything was FINE!

The Sheet calculation i have posted before is RIGHT for the long. BUT the SL Calculation for the short run is wrong (MT4 is angry then^^).

In my opinion you have to calculate 100 pips TO (=+) to the short price.(you want a stop loss in the OTHER direction not in the same!).

Funnily enough the calculation for the GBPCHF is right

so...again...THANKS for your answer.Probably my answer is helping others.

Another thing. My calculated entries were right and i profited in BOTH directions (strange). I risked 0,5 % of my account but my profits were lower than my risk (under 1:1).Is that ok?I think it would, because i made 10 Trades with 0,5% a day.


best regards,



Ghaz

My pleasure

As long as your ratio of wins is greater than your ratio of losses (say, the strategy does better than 50-60% success rate), you're Okay.

hi,


yeah, you are right!-At the moment everything is right and i entered the trades for tomorrow.Hope everything will be fine. Do you think, this strategy has a weakness?-ranging markets?-but in this case we just would not made so much pips.
I think it is just time intensive to calculate 10 traded everyday.....but it is ok^^

Is here also somebody who does this strategy?

Another question:Is it normal, that BOTH sides are hidden?

hi everyone,

could anybody, who uses this strategy, tell me how to give in the daily trades?
Metatrader gives me in most cases a wrong S/L T/P error warning.
I use this instruction (attached).
Also i see, that the losses at this strategy are too high.My wins are just a few pips.Losses are more havier...
It would be nice to see other experiences.../Stuart from the original thread had hundreds of pips a day....very strange).



Ghaz