Forums › ProRealTime English forum › ProOrder support › 3 Candle Strategy › Reply To: 3 Candle Strategy
08/02/2018 at 10:06 AM
#77398
It works good on high TF’s. On DAX Daily it yields good profits, but only 6 trades in 8 years!
I have something to point out:
- the higher the TF, the more reliable patterns are (yours, Doji, Hammer, Engulfing, ….); if you are looking for many trades then you must devote to lower TF’s and it is not likely to work!
- are you sure your patterns are good? how did they come to your mind… tests, rumors, what else? Because they seem a bit odd!
- you set your SL and TP based on the current CLOSE, are you sure the SL (say in a LONG position) is really lower (and TP higher) than entry price?
- you never care about the current candle, but THAT is the entry price at which your trade will open.
I mean, maybe you should rethink it a bit… make some changes, or even drop it (I have about 30 running strategies on demo, but I have coded a few hundreds, my trash bin is FULL).