I don't trade algos or any automated system for that matter...therefore I can't give my experience from that perspective. But for me, my manual trading has given evidence that anything over 50 pips SL is a waste of my time because the R/R is too wide. I am U.S. based so restricted to 1:50 leverage, of which I only use 1:10 leverage. So my position would be too tiny to be worth it at that SL level. It's a lot easier to bag 60-80 pips (2x SL) than it is 150-200 pips in a day (2x 100 pip SL). You don't even have to be right about the complete direction of the market because of pullbacks and corrections and the likes. In my first post of this thread I mentioned taking an account to 40% gain in 8 days. This was done using 30 pip SL and 100 TP. It didn't even hit the TP every time, maybe only 3 out of the 8 winning trades. That system does fine with 30 pip SL. Wins about 70%, up to 90% if you only take the clearest signals.

I guess all that really matters is that you profit. To each and their own.

   walker36 posted:

30 pip SL with 1 Hr chart means you dont know what you are doing and you are not sure about your system.



Honestly, that was a cheap shot. You are probably the only trader I have ever known to make such an ignorant claim. I am so sure about my system that I don't need to risk more than 30 pips to get it right. I only lose 30% of the time anyways. System was developed over 10 years ago and has proven itself over and over again. I'm not going to debate who has the better stops or targets or risk ratios or other nonsense because none of that really matters. Every trader has their own way of thinking and own method of trading. As long as I continue MAKING A LIVING trading forex, I am not going to change my way of thinking or method of trading. Thank you for your comments and good luck.

I've tried to explain to programmers in the past that this system really can't be coded. You have to be alert enough to check where price is according to various levels.....something that code simply isn't smart enough to do. Code thinks in terms of numbers whereas a trader can think in terms of point on chart as well as recent history (including fundamentals).

Ongoing thread here: http://www.traderszone.com/personal-trading-systems/9001-my-intraday-system-pictures.html

   walker36 posted:
   thank you.

there is a bunch of information about the system but there is no result like account sheet demo or live. if there is I could not find. if you trust your system then I can code it if you help. and see what will be past performance.

walker.


The problem is I trade several systems on several of the same accounts. I have six (yes, 6) accounts with OANDA. None of them trade just one system. As I said before, attempts have been made in the past to code this into something testable. But because much of the system is 'discretionary' that is difficult if not impossible to put into code form. I am getting ready to do an evaluation on my accounts and am planning to manually backtest the system. Will post something then, perhaps a separate thread since it is not related to this one

   glcfx posted:
   
   Splexin posted:
   Uhmmm......100 pip SL and 20 pip TP?


yeah that is what i do.... sometimes u get stopped with too tight spl


Yes trust me I have experienced being stopped out with tight stop only to have price return in favor......but I mean, have you tested perhaps a better TP?? Like walker said, one loser would wipe out many winners.......