The Time Frame is 5M.
Here's my basic set file. However, I modify the TP, TS, BE, Min TP for some pairs. This is the one for eur/usd, which I also have set for .03 lots, since it's a consistent winner.
For aud/usd, TP = 25.
For eur/jpy & gbp/jpy, TP = 40, BE = 20, MinTP = 20 & TS = 20, since they typically have bigger moves than other pairs.
I also have a 30M, 4H and 8H chart (on Intellicharts) for all pairs with proprietary RSI type indicators, but you could use an RSI 3 for similar results - I also have the RSI 3 on all 5M charts on MT4.
When I see that all 3 RSIs (30/4/8) are simultaneously at either extreme, I check to see if there are any trades going against that, eg: RSIs are over sold at the bottom, and EB takes a sell - it's most likely not going to win, and you're going to get stuck in a big draw down and or full SL. So I'll kill those trades and cut my losses.
But honestly, the demo results above were completely unattended - I only intervene on my live accounts.
I also forgot to list that there were at least 15 - 20 open trades at the end of the test period on both accounts, some in big draw downs, and some of which have gone on to profit and others are still dangling.
Creator=Copyright © 2009, Forex Spiritual Team
Part1==== Time Management ===
Part1_1== Start-End Time =
Part1_2== Start-End Time 2 =
Part2==== Trading Management ===
Last edited by Mac109; 07-06-2009 at 22:35.
FXDD - 2 pairs, gbp/jpy, gbp/usd, x 2 trades each, hit their full SL yesterday.
As I mentioned above, these accounts are not monitored as I do with my live account.
I am actually starting to get pissed off at one of the ways Euroblaster trades.
It seems to sense an upward spike, right before a fall in price, and when it doesn't hit the TP, the trades all go into drawdown. This has happened twice now, and one of the trades it made (Which I'm glad I terminated early) would have wiped through the 350 pip stoploss if I had have let it do so.
reverse the system ... lol
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