Don
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1M & 5M Scalping System (Scalping Paradise) 21 replies
A switch: from part time trading to full time trading 8 replies
A system that works for a part time trader with minimum screen time 16 replies
Dear Full time/Part time Traders – Thanks for your time and help 7 replies
Part Time Wealth Building System - "High-Low Trending" 9 replies
DislikedI don't know why everybody is ignoring the perfectly good(as far as I can tell) EA provided by Skyline on page 9, post#135.Ignored
Dislikedb-rock,drayco,
maybe i am a little thick here, but how does it matter at exactly what price tk enters? essentially on your own platform the following should be worked out
- what is previous candle trend
- whether previous 3 candles are in same direction or not
- what time does a new candle open. Believe me whatever time the candle opens on ANY broker, it WILL correspond to 24.00 GMT after factoring in the local time zone you are in.
- place order at market
forex being so competitive, i am reasonably sure every forex broker offers prices within less than +/- 10 pips of one another.
a newbie's 2 centsIgnored
DislikedBecause if a specific GMT time = the 'accepted close' for everyone, then if the difference of today's 'accepted close' is > than yesterday's 'accepted close' = an UP ARROW for everyone. Not a bullish candle on some charts and a bearish one on others. It should put everyone on the same page as far as going long or short at 24:00 GMT.
Hope this helps to explain my thinking.Ignored
DislikedI'm running it on GBP/USD only and using it for the Daily System. It is set for GMT and I use IBFX so I just leave the time shift setting alone. There are fewer variables but I think it is fine for following TK's rules as he has set them forth for us. Look at a couple of posts previous, let the system do what it is designed to do. Don't panic, let it play out. I have not experienced any hang ups with this EA. It is running very nicely.Ignored
Dislikedb-rock,drayco,
maybe i am a little thick here, but how does it matter at exactly what price tk enters? essentially on your own platform the following should be worked out
- what is previous candle trend
- whether previous 3 candles are in same direction or not
- what time does a new candle open. Believe me whatever time the candle opens on ANY broker, it WILL correspond to 24.00 GMT after factoring in the local time zone you are in.
- place order at market
forex being so competitive, i am reasonably sure every forex broker offers prices within less than +/- 10 pips of one another.
a newbie's 2 centsIgnored
DislikedI don't know why everybody is ignoring the perfectly good(as far as I can tell) EA provided by Skyline on page 9, post#135.Ignored
DislikedThe problem Coolshades, is that when learning a new system, I don't want to mess around with figuring out issues such as time of entry and candle trends, instead of focusing on the task at hand. If I am doing the same thing as everyone else, it is much easier to compare and thus become confident in this, without worrying about whether or not I am executing things properly.
Also, contrary to what you have stated, "Believe me whatever time the candle opens on ANY broker, it WILL correspond to 24.00 GMT after factoring in the local time zone you are in...." is INCORRECT. This is THE problem here! Different MT4 brokers open new candles at different times of the day for "daily candles". This is where the confusion is coming from!!! If I'm using NorthFinance, a new "daily" candle actually opens at 22:00 GMT, whereas if I'm using Velocity, a new candle opens at 24:00 GMT.
And this is why we end up with discrepancies such as on Jan.25th where the daily candle on North Finance is red, but on Velocity it is green. This is a problem.
That's why myself and drayco are requesting what we are requesting.
-bIgnored
DislikedIt is fixed in the latest version. However, there is probably another glitch when open hour > close hour. It does not go correctlo through midnight. I'll fix it soon and post it.Ignored
DislikedTK, let me know if any of this is incorrect:
Trading Rules:
1. Create daily chart on any pair.
2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)
2. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry) Note: For GBPJPY, place opposite side trade 50 PIPS away.
3. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.
4. Use 40 PIP stops on all orders. Note: For GBPJPY, place 50 PIP stop.
5. Set a Profit Target of 100 pips.
6. If PT is not hit, close between 2300 and 2400.
6. Repeat trade rules at 2400 GMT.
No straddling the price entry.Ignored
DislikedHello,
May I ask how many times within the day you reenter the market after being stopped out? Im backtesting the strategy and found that you could get up to 6 SLs hit in a single day...
So how many reentries do you guys make?
-MikhailIgnored
DislikedI know the system says to go short tonight, but is anyone else concerned about going short when GJ is down over 400+...nearly 450... pips in just the last 24 hours. Can we get another 50-100 out of this move?
I'll probably go with the system. Just seeing what others are thinking.Ignored