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sr2 · 17-02-2005, 07:14

Hi all

Just wanted to a make a few observations about the system or possibly my trading style. I often find that I close out the trades early. For example the AUDUSD trade from last week. The system made profit but I took only approx 70 pips. I think it could have done the 100 pips. Only time will tell as the trade would still be open.

My goal is to create a set and forget system but I am having a lot of difficulty doing this personally. Some maybe better than others at this. Also I do think I need to look at the exit strategy as I am missing out on a lot of pips. I think there are potentially an extra 200-300 pips per month which can be made, but I need to check. Several people have suggested ATR. I will take a look but if anyone has any particular suggestions on how best to use this let me know, remember I am a newbie

Overall though it seems like this system is profitable. Remember I have not backtested, I have forward tested. I am very tempted to jump in live now but think I need to spend some time looking at the exit strategy before I do.

SR2

17-02-2005, 07:14	#45
sr2 level 3 Join Date: Jun 2004 Posts: 164 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Yet another newbie system! Hi all Just wanted to a make a few observations about the system or possibly my trading style. I often find that I close out the trades early. For example the AUDUSD trade from last week. The system made profit but I took only approx 70 pips. I think it could have done the 100 pips. Only time will tell as the trade would still be open. My goal is to create a set and forget system but I am having a lot of difficulty doing this personally. Some maybe better than others at this. Also I do think I need to look at the exit strategy as I am missing out on a lot of pips. I think there are potentially an extra 200-300 pips per month which can be made, but I need to check. Several people have suggested ATR. I will take a look but if anyone has any particular suggestions on how best to use this let me know, remember I am a newbie Overall though it seems like this system is profitable. Remember I have not backtested, I have forward tested. I am very tempted to jump in live now but think I need to spend some time looking at the exit strategy before I do. SR2 Last edited by sr2 : 17-02-2005 at 07:34.