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  1. Profile photo of sahara
    sahara
    January 27, 2012 at 18:25 Reply

    Comment left on:
    January 27, 2012 at 18:14
    saharaview says:
    A question @Mark: (will try to be clear for strategy )If you have a candle (bearish example) has closed …… 1.3150 sl 12 and pull back ….. 32 does it mean if price “rise” or “go” to 1.3182 ! we can entry if we see ” a bearish situation” in this area with a SL in 1.3194??

    • Profile photo of PipHut Team
      PipHut Team
      January 27, 2012 at 18:27 Reply

      Yes, in your example it would mean entry at 3182 with SL at 3194 (depending on your broker’s spread).

      • Profile photo of sahara
        sahara
        January 27, 2012 at 18:32 Reply

        Great @Mark see it with charts here !!

  2. Profile photo of sahara
    sahara
    February 3, 2012 at 19:17 Reply

    hi @Mark another question please for pulback strategy : when you said for example : a 30 mn candle (bearish ex) closing 3130 and pulback ….28 pips and sl 17 … 28 is after a new 30 candle or you mean only price ..??

    • Profile photo of PipHut Team
      PipHut Team
      February 3, 2012 at 20:49 Reply

      Pullbacks are triggered on price only (nothing to do with number of candles that had passed). So in your example if a bearish candlestick closed at 3130 with a 28 pip pullback then a short would be triggered at 3102 – regardless of what candle it occurred.

      Keep in mind all backtesting is done on the 10 candles that follow a signal so if a pullback does not occur within 10 candles the trade is invalid.

  3. Profile photo of Prince
    Prince
    February 6, 2012 at 18:31 Reply

    I am confused on your backtesting strategy. Usually there are 5-6 different pullbacks to enter on in Backtesting. For example on Feb 6, 2012, 15 mt timeframe pullback to entry is 24,19,3,14,9. Now where should i put my order. If I wait for 24 pull back, you may send another signal in opposite direction or it may not even go up to 24 pull back but returns from 9. So can you clarify for how long or for how many candles should I wait for pull back to happen and then enter?

    • Profile photo of PipHut Team
      PipHut Team
      February 6, 2012 at 19:26 Reply

      Hi @prince1 – if you take a look at the sample backtest above ( http://piphut.com/wp-content/uploads/2010/08/pullback_strategy.gif ) you’ll see that backtesting checks 5 different pullback/TP/SL levels and shows you the results. You are then able to choose which one best fits within your strategy. Each signal is backtested using 10 candles after the signal, therefor each is valid for up to 10 candles after the signal (so a 15m candle would be valid for 150 minutes or 2.5 hours). You are correct that the larger the pullback the less likely the trade is to be triggered – if you read the above article we discuss the pullback tradeoff: less trades but you get a better entry price. (This question was moved from (http://piphut.com/trade-with-piphut/).

  4. Profile photo of Prince
    Prince
    February 7, 2012 at 22:46 Reply

    I placed an entry order on a 46 pip pullback based off of backtesting. It has not reached there yet to trigger my trade after 6 candles. How many candles do you think I should wait? Too much longer and I think it might not have time acheive take profit target. I appreciate your help. Thanks.

    • Profile photo of PipHut Team
      PipHut Team
      February 7, 2012 at 23:14 Reply

      Backtesting is based off of entry any time within 10 candles after the signal. So to achieve results similar to backtesting you would wait four more candles if you have waited six already and then close the position after 10 total candles (10 from signal) whether the SL or TP has been reached or not.

      As we mentioned above pullbacks greatly increase your win % by getting you a better price – but they also mean that less signals will be triggered (so there is a chance after 10 candles the trigger was never reached).

      Here is a good article on how Backtesting works with the “10-candle” system:
      http://piphut.com/2010/08/qa-10-candle-strategy-and-drawdown/

  5. Profile photo of Prince
    Prince
    February 10, 2012 at 06:39 Reply

    EURUSD bearish engulfing candle on 30tf opened on feb 10 4:30, one set up is pull back 5,tp 11,sl 11. So if I enter in this trade I will enter at pull back 5 pips. Now my question is tp will be from the point I enter or from the point the signal candle closed? Because if I use entry point for tp of 11 pips, then the actually profit candle has gone down only 6 from from the signal candle. Am I right or wrong?

    • Profile photo of PipHut Team
      PipHut Team
      February 10, 2012 at 07:41 Reply

      Correct, TP and SL numbers are both from the ENTRY point. Those are the values CP uses for its backtesting.

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