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