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Originally Posted by TraderPierre
Seems like an awful lot of criteria needs to be met before taking a trade, that together with exclusion periods like around data, how many trades setups does this system generate in a month? Is the probability of the trade being profitable any greater than a simple system which produces a dozen trade setups a day?
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Across the major currency pairs, this method can generate about 2-3 setups per day. If you want a dozen setups, you can work on a lower time frame. As for the win probability from the last 6 months of trading this setup in its present form:
Profit Target 1 is 84%;
Profit Target 2 is 70%; and
Profit Target 3 is 58%.