Saturday, November 25, 2017

Solution to Overlapping of 2 Strategies

February 5, 2014 by  
Filed under Forex FAQ & Latest Post

In today forex faq, we have a very good question from one of our fellow readers in this blog.

Below is the question:

Hello Kelvin,

I have been following your performances on Forex indicator Blog for quite sometime. I would to ask a few more questions before purchasing the course. I see that you have 8 strategies in your course. I am keen to know what to do if Strategy A say Buy and Strategy B say Sell for EURUSD ? Next, if strategy A and B say buy on EURUSD at the same time, how to proceed?

I bet that this is one problem that some of you are facing when you have more than 1 forex strategy to use. Moreover, my forex mastery course has 8 strategies in it and what should you do when you encounter a problem like what is described above.

Let us take 2 strategies in my forex for example, forex piggyback strategy and Gartley trading system.

Situation 1:

For example, I have entered a LONG trade for the piggyback strategy and now there is a setup for a SHORT trade for the Gartley trading system. What I will do is I will take whatever profits that is being made for the piggyback strategy by exiting it.

Next I will enter a SHORT trade based on the Gartley trading system. This is because the winning percentage for my 8 strategies are very high and whenever there is a signal that is opposite to the trade that I have entered, I will usually exit it and enter a trade for the new signal to prevent the market from taking back those profits that I have made.

Situation 2:

Let says that I have entered a LONG trade for the piggyback strategy like the one above and now the Gartley trading system gives me a BUY signal which is in confluence to my previous trade.

What I will do is to stick to the LONG trade that I have entered but I will not enter another LONG trade for the Gartley trading system. The second signal in this case serves as a confirmation for my first signal.

What I will do is I will extend my target profit to whichever is higher.As for the stop loss, I will not move it.

This is how I deal with my 8 strategies all these years and I hope that this post has given you a new outlook for using my strategies in my forex mastery course.

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