Kris Legend   Posts: 347 Joined: 4/20/2006 Location: JNB, ZA  User Profile | Unfortunately the best moves normally happen while I am in the office. Typically I pickup the "cigarette-butts" of the forex market, i.e trades that are available to me in the evening :-) I view it as a real problem, because if a strategy gives me very good back-test results, I should trade every signal(!), otherwise I cannot expect consistent performance (in line with the back tested results). Now if profitable trades are during mid-day, but I trade in the evening, I may be picking-up the less profitable trades(the butts!?). That is why automated trading is so important, I am building up some courage to let my computer lose. Anyway, typically I use very simple strategies with 1-2 related system(s), 1-filter/confirmation and 1-stop. Since we are talking about Pivots, attached is a strategy with Pivot Filter that serves me well in a volatile market (i.e. FX): * two systems - RSI-P & RSI-TLB * Pivot Filter - allow long trades when price is above the central pivot level of the next larger time frame (short vice versa), e.g. on 60-min chart my filter is daily central pivot level, and on daily chart my filter is weekly central pivot level. * my forex stop within a forex trade-plan. * attached are all required files. Also, I believe that with this strategy it is important to carefully select/enable correct timeframes. For example, I disable the 10-min timeframe. For 10-min I use different filter setting and a different stop (my 2-bar stop) Tony, thank you for your good word. Welcome to Forex, the dark side of the market. I migrated to Fx about 16 months ago and I am slowly losing interest in stocks and futures :-) Cheers, Kris  Attached file : ForexStop.txt (1KB - 401 downloads) Attached file : Forex.ott (92KB - 403 downloads) Attached file : fx-RSI.ots (664KB - 414 downloads) |
