The TradingTime is just a feature Jeff introduces to THREE SET UPS (Jeff, Am I right ?). It can be used in any other chart setup.
The default windows in the script are 7:00am to 10:am and 1:00pm to 4:00pm (all in my own GMT+1 World time zone). I just increase my own windows by 1 hour. It is just all about GOOD times to trade. Window 7:00am to 11:00am falls within London session; Window 1:00pm to 4:00pm falls within New York session. 11:00am to 1:00pm is not for me to go for lunch (I eat when I'm hungry, NOT at specific times; that is the most healthy thing to do on eating); but market condition at that time is usually dull, specifically on Currencies; but it doesn't mean that things don't happen at that time; in any case, I gotta rest, man; and not over-trade.
Lolu
The following user says Thank You to lolu for this post:
You can see it much better on a fast tick chart. I think the breakeven stop is too close. I think other traders know the breakout pt and they gun for this level. That or other traders wait for the pullback to the breakout pt to get back in. I'm not sure which but this happens too many times to be a coincidence. I'll study it this weekend.
It's not just this strategy that I have bad luck with a breakout stop. Happens all the time. I guess I enter at obvious places.
Here is an example of eurostoxx 50 futures trade this morning. I was really bummed because it dropped quite a bit after I got stopped out!
I'm open to suggestions.
Thanks Jeff for sharing this, I really enjoy it. It's really easy to do with my other setups.
The following user says Thank You to cunparis for this post:
I must congratulate you again for a Very User-friendly and High Winning Trading Method(s)! Newbie me practised what I learned from you and it's a Fun & Successful morning IMHO.
Short recap:
1. 3 Inside Bar and 1 Outside Bar trades
2. 3 Winners and 1 Loser (I followed your suggestion to adjust the SL and minimize the loss for the second trade.)
Beth
The following 2 users say Thank You to wgreenie for this post:
