.
I don't think this strategy should be written off. Williama was very aggressive with the lot sizing, because I'm sure it has worked out for him previously. One could trade this system more conservatively. During these last few days, I traded this system manually and closed out 2 progressions which hit TP and a 3rd is in positive pips right now. Using .01 lots = $0.10 (FXDD demo) my account balance is +$64 (about 640 pips) and current equity +$16 with max DD $150. I'm going to keep testing.
Suggestion: to reduce pending orders, consider only adding double lots in the other direction starting 2 levels away. This should give the pair more room to breathe before adding more pending orders. A spreadsheet is vital to know where you stand at any given time.
Thanks Williama
Jack
I don't think this strategy should be written off. Williama was very aggressive with the lot sizing, because I'm sure it has worked out for him previously. One could trade this system more conservatively. During these last few days, I traded this system manually and closed out 2 progressions which hit TP and a 3rd is in positive pips right now. Using .01 lots = $0.10 (FXDD demo) my account balance is +$64 (about 640 pips) and current equity +$16 with max DD $150. I'm going to keep testing.
Suggestion: to reduce pending orders, consider only adding double lots in the other direction starting 2 levels away. This should give the pair more room to breathe before adding more pending orders. A spreadsheet is vital to know where you stand at any given time.
Thanks Williama
Jack