Horizontal Line continues
Posted: Wed Jun 03, 2009 10:55 am
Another day another method. I guess I cant stop system hopping.... but I firmly believe that certain criteria (that suits my personality) HAS to be met:
1) P/L ratio- 5-7 pips scalp just doesnt do it for me, no matter how much I try. the spread alone accounts to some 20-40% of it.
I need at least 1:1. 20 pips loss, 20+ profit. Add a method that is 60+% winner- you profit. Add money management - more profit.
2) I HAS to be simple. TRO's statements that we dont need lagging squigglys FINALLY went through my skull and stayed there. a HL- Horizontal Line, be it S/R. fibos or pivots.... all I need from a method is an HL.
3) It HAS to suit my hours. I work afternoons and I cant lift myself up from bed for London session.
Having said that, I have found a method that allows me to put limit orders at midnight GMT 00 and go to sleep and just wait for the results.
Id like to share it here on kreslik, keep a thread of my trading, and discuss it with anyone who is willing to.
1) P/L ratio- 5-7 pips scalp just doesnt do it for me, no matter how much I try. the spread alone accounts to some 20-40% of it.
I need at least 1:1. 20 pips loss, 20+ profit. Add a method that is 60+% winner- you profit. Add money management - more profit.
2) I HAS to be simple. TRO's statements that we dont need lagging squigglys FINALLY went through my skull and stayed there. a HL- Horizontal Line, be it S/R. fibos or pivots.... all I need from a method is an HL.
3) It HAS to suit my hours. I work afternoons and I cant lift myself up from bed for London session.
Having said that, I have found a method that allows me to put limit orders at midnight GMT 00 and go to sleep and just wait for the results.
Id like to share it here on kreslik, keep a thread of my trading, and discuss it with anyone who is willing to.