Stop loss order will be rolled to break even (entry price) if target 1 is reached successfully. I will also cut my position in half if price exceeds the halfway point to my stop loss (1.2384)
Trade fechado: objetivo atingido
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Target 1 reached successfully for a $700 profit. Stops rolled to break even after target one was reached.. Stopped out on target 2 for a $0.00 gain/loss! another great trade published live here on tradingview!
@Alec40 , That's fantastic i just wanted to mention because i have seen a lot of useless predictions or setups that statistically and mathematically can't be quantified. I use Artificial Intelligence (AI- Deep Learning ) and Genetic Algorithms integrated with Robustness testing in my automatic Algotrading . Have been trading for 10 years . Usually i don't comment on most of the reviews because i believe everyone have their style of trading. Want to you to be careful and wish you the best of luck in your setup
developeralgo222
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REALLY !!!!! , how long have you been trading ? Look at what ECB is saying and US Central bank (FED) is saying . Speculation will drive it higher maybe to around 1.2600 if they can . ECB wants the EURO below 1.0500 , FEDs with Current administration is trying to devalue the USD to gain trad export advantage. Be careful because you will be caught in that swing up and then down . if you are smart you will make money if not you will get slaughtered
Alec40
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@developeralgo222, I am a professional equities and currencies trader of 5 years. As a professional trader, we must enter when our conditions and criteria for entry are met. We never know what trades will win or lose but if we back test properly we can structure our numbers to produce a profit over a long period of time. This strategy wins about 700 out of 1000 trades. Thank you for your concern but with a proper risk management plan, there should never be a worry of losing a trade.
midas11
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Nice chart and very explanatory
Alec40
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@midas11, Thank you very much my friend, I am glad you like it. We were able to take advanatage of a nice move higher in a short period of time.. We followed our risk management rules by moving stops to our entry price after target 1 was reached successfully for a $700 profit. Unfortunately we were stopped out before reaching target 2 for a $0.00 gain/loss but we are walking away $700 richer and happy ;)
Thank you for viewing my friend!