Trading Target Candles

Originally posted by Cyclone73: ↑

Hi Sharks and Zesti,
Here is a another sell bias that I was running only for 24hrs with good result.
The entry was basically the same as we had been trading with Rick. (Hi Rick )
Extreems back to the mean.
Couldn't be bothered waiting for it to close the last two trades and IMO possibly to reverse.

To answer a few of your other questions Zesty, the EA is one I bought when I first started trading...loved the idea.
I loaded it up...came back three days later.....one look and ran away screaming with fright. It had wiped my 5k demo!
Obviously a bit more to this trading thingo than first thought.
I've only just started playing with it again. (Point Zero) don't know if it's good compared to others, but does as req.

If running on a bidirectional I have just set it up on small daily range pairs like the AUD/NZD as seen in a previous post in the last week or so.
I set up the mid range to trade bidirectional, say over 70-100 Pips then anything above the envelope boundary only sell back to the mean.
Anything below the envelope only buy back to the mean.
A good part of this set up was Sharks with some adaptation, he wrote previously as well.

I also check the midpoint and adjust the range of the whole set up if possible (open trades allowing) every couple of days to follow the average price over x time.

10 p space, 15 trades, also keep in mind a large account is usually recommended

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Hi Mike

Just having a break from posting for a couple of weeks, look out next week.
There is no need for another thread, we are only a small group anyway.
When I first came on HC back in 2017 on a thread ran by Spec, I was trading Grids as my main source of forex earnings so the more grids the better in my opinion. Over the last two years I have just been concentrating on scalping because I want to be able to jump on the market at any time for a few hours work and make a 100 pips without fail.
Mission achieved but I needed to steal a few pieces from George’s stuff to understand how to do it properly.

Now I have been dusting off the old ideas and will run some grids here soon. Actually between us we may come up with the best grid strategy ever, lets see.
In the background I have been running a Bollinger Band EA build from EA labs since November last year.
I have changed the design at lest 7 times and only just settled on a final version.
In does used a martingale strategy which Shark thinks I’m mad but just can’t help myself.
Anyway it’s a reversal system that uses trade sizes 0.01 to 0.05 which runs 24/7. Once I get it right, I will scale it up.
I ran the account from $3000k and it hit $11000k back in May before getting hit with some big grinds. I closed it down in July when the equity was down to $5K to fix up some issues it had.
Now its back online with the balance at $6500K and working well (although the last month has been slower than normal).

But I am looking to build a similar model to sharks EA to trade semi automatic next month, good to see your model is going well.

Footnote on scalping

One of the things I have learned this year is the importance of the ratio between price movement
and the ATR. George focussed on the ADR too much in my opinion.