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Use QM to reduce your bet size if leverage becomes an issue. It is not as liquid so there is a greater chance of slippage. However if you trading for 20 CL ticks or more then it is a better option than CL if you are concerned about leverage.
Can you help answer these questions from other members on NexusFi?
I am not really fully following this, since i don't use candlestick patterns, but instead of entering as a market order once it breaks low/high of the previous inside bar, enter one as a stop market order, then use limit orders below to get price improvement....
Trading is an art, and trade management is important.. By doing this, you'll have greater odds of hitting your targets since your average price is lower, your risk is reduced....
You need to do the statistics to find out how many point of heat you take on average per trade.. if its 5 ticks, then enter one as market, then put limit orders 3+ points and below to get price improvement...
I still think that there are better methods to trade in terms of risk/reward, but this is your project, and everyone needs to find their own method.. Good luck, hope this helps.
Hey shodson why don't u include NR as a filter.....NR4 or NR7....this should offer great risk reward even if using fixed targets.....but I believe the best way to use this in the long run is to use R multiples with a good "b/e trade" management plan....
if ( CurrentBar > (int)Math.Ceiling(390/ (double) BarsPeriod.Value)*15) // Ensures that enough daily bars are loaded as the primary bar is a minutes bar , the session here is from 9.30 to 4
{
if (ToDay(Time[0]) != today ) // Do it only at the beginning of a new day
{
today = ToDay(Time[0]);
DaysNR = 1 ;
Tradetoday= true;
for(int i = 1; i < 10; i++)
{
if (Range(BarsArray[1])[0] < Range(BarsArray[1])[i]) // The BarsArray[1] is a daily bar
{
DaysNR = i+1;
}
else
{
break;
}
}
if ( DaysNR >= NRMAX)
{
Tradetoday = false;
}
}
You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
I'd like to take a look a each of the three set ups individually.
First........we got and outside bar...........this trade was a winner........unfortunately for me........I closed the trade making me a loser on that trade.
This trade had a huge amount of risk.....however, had we traded it the way that I've suggested it was a winner.....and a big winner at that......depending on your money management.