A complete breakeven trade on the EUR/USD yesterday afternoon using my settings. I’ve been getting quite a bit of good feedback and interesting information about tufxp which I shall share with you here.
Regarding being able to tell whether the 5 and 10 minute PTP signals are in the same place, Tony gave this helpful hint:
“I expect you have had lots of mails on this, but just in case!! On the above programme you can link the cursors across the charts, thereby being able to see if the bars match across the 5 minute and 10 minute charts. In TESS go to the cross hairs symbol on the top line, right click tick “display vertical line” “link cross hairs across all charts” and “show as default”
Very handy, thanks for that.
Phil also had this to say:
“Re Tess, rather than using the trailing stop, investigate using the red line of the pullback instead. The pullback button looks like a bow and arrow and is just above the ptp calc tool button. Other bloggers are reporting great results using this rather than the trailing stop which usually gets you out too early.”
I had a look at this yesterday and it would have made a pretty good profit on the EUR/USD trade I think. The trade off is that if the market reverses you are going to lose more pips than using the 5 bar trailing stop so I guess the only way of knowing how well it performs long term is by testing it.
One other comment I got was regarding the market in general. I have to admit I haven’t been watching Keiths daily videos of late because I’ve been far too… ahem… ‘busy’ with being on holiday, however apparantly with it being holiday season in the USA and elsewhere, this explains why we have been getting a lot of sideways movements and a general hesitation in the markets.