Ohka
ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies
Introducing Brokers (IBs) + Proprietary Trading Firms 4 replies
Trading systems are pretty over-rated 32 replies
Trade & Trader Idea, Concept & Circumstances 26 replies
DislikedThis is the candle that comes after the Inside Bar or Outside Bar. If we are looking to go long, then the confirmation bar has to be a bull candle (ie green). We look to make an entry on the next candle provided it moves 5 pips. If its an outside bar, then the new bar becomes our reversal signal. So we need to look for another confirmation bar.
Remember, after the IB/OB, you can wait for upto 2 candles to form before entering.
Thanks.Ignored
DislikedOn a long, does the bar after the confirmation bar have to move 5 pips above the confirmation bar?Does it have to move above the confirmation bar at all?Ignored
DislikedOkay more examples.
Trade made last Thursday!
http://img137.imageshack.us/img137/7...een4qg0.th.jpg
Trade made last Wednesday!
http://img524.imageshack.us/img524/5...een5ei0.th.jpgIgnored
DislikedIn your Wednesday example, my chart shows a distinct downward slope of the ADX line during to formation of the confirmation bar.
Your chart is not clear enough to make it out.Ignored
DislikedRemember, we are entering the market at the start of a trend. So a smoothing of the ADX curve, or a slight upward movement is more than enough provided all the other rules are met to indicate the new trend formation. The reason why you don't see a distinct upward slope is because the trend was weak for a considerably long period (ie: consolidation during the Tokyo session).
ThanksIgnored
DislikedThe first arrow points to the ADX at the time of the IB.
The second arrow points to the ADX at the time of the confirmation bar.
There is no sign of any upward slope in the ADX.Ignored
DislikedI see some upward slope on the Entry candle, and that is what I see on my charts. I have only posted here trades that I entered using my system, so I am sure I saw a small upward movement before placing the trade.
Having said that, I would still enter the trade if I saw a downward slope with a small gradient during the formation of the confirmation candle, but corrected upwards during the entry candle.Ignored
DislikedDo you think it might be a good idea to edit your rules in your first post? Your rules call for an upward slope during the formation of the confirmation candle, not the entrance candle.
Going strictly by what you posted in post#1, there would have been no trade in the example we are discussing.Ignored
DislikedAhh!! My bad. I chose the wrong words to explain that part.
1ST POST HAS BEEN UPDATED
Ignored
Dislikedmazdaz
Have you tried on shorter timeframe other than the 1HR timeframe?Ignored
DislikedThose who are following this system should have spotted a nice entry today.
OB formed at 14:00GMT. Confirmation bar was a bear candle and red line crossing above green line.
ENTRY MADE @ 2.0454
Since I am awake, I am going to ride this one out without setting a fixed T/P.
GL to ALL!!
Ignored