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- 26 Results (1 Thread , 25 Replies )
- 133 replied Jan 29, 2014
jmag, Try looking at the higher timeframes such as the 1H and 4H and drop the envelopes altogether. See what kind of results you get that way. Tends to be less choppy and might fit your time schedule better.
- 133 replied Jan 29, 2014
irampagemc, Unfortunately I don't have any hard numbers to give you. Part of what I find profitable about this system is the money management I use when trading this way. I shoot for 1.5 net wins per day using 1:1 risk/reward per trade. When I hit ...
- 133 replied Jan 19, 2014
That is correct, the high of a long setup bar must be below the upper 0.05 band and above the lower 0.05 band for a short setup. If possible could you post an example of what you are looking at? It's possible I might have incorrectly labeled a setup ...
- 133 replied Jan 18, 2014
jmag, I haven't adjusted the envelopes for higher timeframes yet so I'm not sure what would be the best settings. If you come up with something I'm sure we would all be interested to know. Just a quick idea though, try it without any envelopes and ...
- 133 replied Jan 15, 2014
Unfortunately you can't hedge if you use a US broker but you can with most other brokers.
- 133 replied Jan 13, 2014
Yes, a lot of naked closes are also smash bars but not all. It's frustrating to run a backtest and discover after you're done that you forgot a variable. Can't tell you how many times I've done that!
- 133 replied Jan 13, 2014
Thanks for your input, jmag. I only use this strategy on the EUR/USD because I am more familiar with it's personality. I haven't used this particular strategy on other pairs but I have done a variation of it using 1H bars, no indicators, exit first ...
- 133 replied Jan 11, 2014
A pin bar is usually a smash bar also. I marked examples of smash bars below, two of which were also naked close bars (setup #1 and #5). Let's say hypothetically that the second trade setup I marked has a high of 100 and a low of 0. You can see that ...
- 133 replied Jan 11, 2014
I don't add to an existing position but I will open a new position in the opposite direction. Sometimes both will win but usually it just leaves me with a winner and a looser (net even between the two) which is better than simply one net loss. You ...
- 133 replied Jan 10, 2014
jmag, simply take the most current setup. Do you have a chart example to show me what you are looking at? The chart below shows two smash bars followed by a pin bar with divergence. If the pin bar wasn't there I would enter on the break below the ...
- 133 replied Jan 7, 2014
To get a better feel for the setup bars you can also remove all indicators and work with a blank chart. Working without any indicators such as envelopes, bollinger bands, etc is possible but you can also get chopped up pretty bad in my experience. A ...
- 133 replied Jan 7, 2014
Whoops, I just realized that I marked up a 5M chart in the above example. I only use this on the 15M but setup bars like this occur on all timeframes.
- 133 replied Jan 7, 2014
Here are a few examples from today's chart. Not all setups are marked. On this chart the large smash bar is also a naked close bar. Forgot to add that on chart.
- 133 replied Jan 7, 2014
Select "envelopes" under "oscillators". Use these settings for one and 0.05 for the other.
- 133 replied Jan 7, 2014
The smash bar is stand alone. It has no relationship to the previous bar unlike the naked close bar which must close lower or higher than the previous bar. As long as it is within the envelope parameters it is a valid setup. Does that answer your ...
- 133 replied Jan 6, 2014
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- 133 replied Jan 6, 2014
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- 133 replied Jan 6, 2014
Some more examples.
- 15M Envelope Strategy
Here’s a simple strategy I use that does quite well. Is it perfect? No. Could you put your own ...
- 133 replied Dec 23, 2013
This trade was good for about 8 pips minus spread. Enough to get to even or just take a few and call it a day. Note that hidden divergence showed up which could be used as an exit trigger or signal to tighten stops.