IT soesnt work even on USD/JPY

kasapreko wrote:

isn't anyone still using thing method or ea anymore? still working well?

I'm currently testing a new, simpler version of the strategy where I close out the trade after the 3 stop loss has been hit, this allows me to completely eliminate the risk of catastrophe, and I can start out with much larger trades. I still need to test it for a few weeks to confirm that this is a good strategy, will keep u posted!

As for the EA, I'll have to get back to you, a friend of mine is testing it but he changed the parameters to 100 pip SL/TP.

anuj20jain_India wrote:

Hey John,
Yes, do keep posted us...but i still wonder if going for higher lots after 3 SL would also fall in a range then this also goes for a toss...

I'm actually doing the opposite, instead of starting out with .01 lots and going up to 9 positions, I'm starting out with .07 sized lots and fulling giving up on this trade once the 3rd SL has been hit. When that happens I no longer trade until the next trading day where I start all over again with a .07 sized lot.

anuj20jain_India wrote:

If for the next 4 days again you keep hitting stop loss then that would blow up your account.

Using .07/.14/.28 positions sizes and during 5 days of nothing but stop losses, my account would not blow up. My account is a €5000 account:
Day 1: SL1=17€, SL2=34€, SL3=68€, total loss of day = 17+34+68=119€
Day 2: SL1=17€, SL2=34€, SL3=68€, total loss of day = 119€
Day 3: SL1=17€, SL2=34€, SL3=68€, total loss of day = 119€
etc...
After 5 days of hitting 3 SL each day, I lose 595€ (just 12% of my account).

On sixth day, you just start out with a .07 position (per my example), so your profit would be 17€ when the TP is hit.