Tuesday, December 29, 2015

Re-thinking

As a mean to have a better and workable trading system, i have to better understand my own flaws and nature if there is.

My system requires a simple pending order entry which would allow me to earn at least 45 pips (4 deci) or 450 points (5 deci) per "way" under Qep method.

However, my Shunpo remain 50/50 as it only indicates pre-meditated chart movement.

Now, what i try to do is based on

a) where the price is at 4pm and 8pm tf d1 and compare with the Opening price.
b) if the price of that time is lower than the opening, then targeted sell it is. and vice versa.
c) for the entry and the tp targeted must be calculated along the the previous Daily high and low.

For example, current High is 1.0986 and current Low is 1.0903 for both daily and weekly.
Thus if the price were in between tomorrow, then if it`s above

i.e
1.0950, thus the buy will be between 1.0950 - 1.0986, and the next setup buy will be at 1.0995 (5-10 pips differences including the spread calculation)

1.0950, thus the sell will be between 1.0950 - 1.0903, and the next setup sell will be at 1.0895 (5-10 pips differences including the spread calculation)

d) the overall range within 100 pips, in between.

let me re-try the process in between.





No comments: