Hi Rahul,

Thank you for this strategy. But I have a small doubt.
What condition do you require to filter bad signals.
The body of the bearish candle close below 50% of the BODY of the previous candle?
or close below 50% of the total range (max-min) of the previous candle?

Thanks in advance.
Vincent.

Dear Rahul
Thanks for the video….why not use a trailing stop at 60 pips…5?10? to possibly capture larger moves…..and when you decide to break even at 15 pips on 30 min one could then put in a trailing stop.. to capture some profit instead of breaking even….3?5 etc…One could use a trailing stop on the hour chart too after breaking even…
You posted a video on divergence but I find it can often result in a loss…You did not bring out several points….which time frame….Does divergence have to be over one time frame….Do there have to be several consecutive divergences..and that is a point because sometimes there are consecutive divergences….meaning your trade on a previous divergence resulted in a loss..
When do you exit the trade???on a divergence..

Hello Vincent,

Thanks for the comment. To filter false setups, you need the body of reversal candle to penetrate 50% of the body of the previous candle.

Thanks,
rahul

Hey GJ,

Thanks for the comment, the purpose of the video was to share a strategy that can be kept very simple. So, thats why I didn't integrate the concepts of trailing stop/loss etc.

But I agree, trailing stop loss can be a good way to get even more profits. Please feel free to customize it based on your experience.

About convergence & divergence, what I telling was to tell how the divergence can be used to identify market reversal conditions. It can be part of a system, but it is not a complete system by itself.

Thanks for sharing your comments.

Thanks,
rahul

Hi Rahul

Great video I believe in sticking to your profit for the day and if the market gives you more pips please protect your profits.

thanks
sabbie

Hi Rahul,
I just watched this today (2/7/10). Very well done video. You didn't recommend an initial stop loss. What do you recommend using for that?
Thank you,
Phil

Hi Again, very good simple system with a bit of fiddling it could be very good, 2 lots instead of 1 and closing 1 after 30 pips andlet it run on trailing stop and puting stop at breakeven plus 5 makes a lot of pips if it happens 30 to 40 % of time will do it for next wk and will let u know.

Hi Rahul,
The work you do like this is very much appreciated, I will try out some of them and reply soon.

Thanks for a great video and for your double-top double-bottom strategy. I have seen this before but you helped by stating whenn to get in and when to get out. Regular profits are better then irregular gains and losses.

Thank you once again and I will try to put into practice over the next week or so on my demo account.

Best regards,
Raj