It's not the range that this exploits, it's the wick size.
If you look at the frequency distribution, you'll see the wicks are larger than 20 pips over 66% of the time. Yes, you would want to run the frequency distribution for each pair that you trade to find the "cut off" number of pips.
2009.11.05 DRAIN THE BANKS - REV 9
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jonisonvespa wrote:
is that 20 pip the same with all pairs?? surley that 20 pip would be constantly changing and different for all pairs??
the 66% will fluctuate depending on the pair you are trading. tro's work indicated 66% on GBP, getting >=20 is a higher percentage on the euro and on crude. you probably should run your own stats on whatever you are trading to figure out the stats. ie, if i screw up an entry and come in at 20 ticks off the h/l what are my chances of a 40 tick total move etc
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hi tro
do you calculate the average candal size bottom/top wick and body, say over 25 days?
the extreems are the wicks?, most of the time price is within the body?
d1 top wick count usd/chf
10-19 pips 31%
20-29 pips 19.2
30-39 pips 19%
40-49 pips 15%
so top wick was 84% of the time 10 to 49 pips.
ive hit a brick wall, please help my brain cell cant cope
yes i trade eu, thanks tro
do you calculate the average candal size bottom/top wick and body, say over 25 days?
the extreems are the wicks?, most of the time price is within the body?
d1 top wick count usd/chf
10-19 pips 31%
20-29 pips 19.2
30-39 pips 19%
40-49 pips 15%
so top wick was 84% of the time 10 to 49 pips.
ive hit a brick wall, please help my brain cell cant cope
yes i trade eu, thanks tro
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TRO, is there an alert indicator to let us know when price is within 20 pips of the daily high/low of selected pairs? So we only need one pair open.
Also what is your opinion on this strategy for DTB like a RAT:
Enter 20pips from daily high/low: If you get stopped for -10
Enter 20pips again from daily high/low: If you get stopped for -10 again
Enter 20pips again from daily high/low: Target +40pips to make up for loses and gain 20 extra pips.
From my observations thus far, the m15 chart seems to filter out some bad trades that would be triggered on the m5.
Also what is your opinion on this strategy for DTB like a RAT:
Enter 20pips from daily high/low: If you get stopped for -10
Enter 20pips again from daily high/low: If you get stopped for -10 again
Enter 20pips again from daily high/low: Target +40pips to make up for loses and gain 20 extra pips.
From my observations thus far, the m15 chart seems to filter out some bad trades that would be triggered on the m5.
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jonisonvespa wrote:hi tro
do you calculate the average candal size bottom/top wick and body, say over 25 days?
the extreems are the wicks?, most of the time price is within the body?
d1 top wick count usd/chf
10-19 pips 31%
20-29 pips 19.2
30-39 pips 19%
40-49 pips 15%
so top wick was 84% of the time 10 to 49 pips.
ive hit a brick wall, please help my brain cell cant cope
yes i trade eu, thanks tro
I think the examples used 100 days.
Wick is High - Candle Top
Tail (bottom wick) is Candle Bottom - Low
Yes, if you add those up, you get 84%
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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