Thankyou infomattik! A lovely clean simple system. Will give it a go
No problem, all credit goes to Russ Horn. This is the first manual system I ever bought, it definitely gives strong signals with no stress because it identifies the 4 checkpoints for a good trade and alerts you. I had mixed results the first couple of years, but the trend indicator I use really helps weed out many false signals, or tell me when to exit on a bad trade early. Targets where always a problem for me too, should I go for a 1:1...a 1:1.5...a 1:2 ratio? That's why I like the info indicator I posted, I just listen to what it recommends (basically its just support and resistance distance but they seem to be good realistic targets that can be hit). If a trade goes against you, and one or two colors on the Rebellion EA trade info display change, as well as FlatTrend changing color, its a clear sign to bail out until the next valid signal.
Always break your trades even when your stop loss level is reached in profit! Again, I use an EA to break even at 50 pips and begin trailing from there...even if my SL is 80 pips. If my stop is 40-45 pips I change that to a 45 break even and 45 pip trailing stop (starts slowly locking in profit when the trade is 45 pips in profit). On the 1HR 45-50 pips is a great cushion and gives the trade breathing room. The way that Russ teaches to reduce your stop loss in half when you reach half in profit is good, but I've had trades that reversed and stopped out at the 50% original stop value, and then continued on to my target. It's a personal preference, I just like room
to breathe. If it's time to close early, the indicators will tell me.
Rebellion was never updated, there is only one, original version. I'm hoping one day Rebellion 2 comes out, but for now...have fun.
Thankyou very much. I'm excited to try this out tomorrow. If you could post pics with your entry and exit
Points that would be awesome!