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1H Trend

  • #81
  • Feb 16, 2009 12:53pm Feb 16, 2009 12:53pm
Not much to talk about but I made +13 pips this morning on two trades, trading off the 1min chart. Largest drawdown was just 3 pips so that's great. I think this method has some great potential. I'm going to continue to try the 1min chart and see if I can't scalp some solid pips....don't like starring at the screen all day and can't since I work a full time job.

Quoting Jnita
Lets see how this pan out:

1. macd ma fast crosses below macd ma slow
2. macd slow ma cross 21 ema down
3. stoc k120 cross d60 down
4. 80 ema high serves as resistance
5. stoc k120 crosses 50 level down
  • #82
  • Feb 16, 2009 1:00pm Feb 16, 2009 1:00pm
Quoting Siuol
Not much to talk about but I made +13 pips this morning on two trades, trading off the 1min chart. Largest drawdown was just 3 pips so that's great. I think this method has some great potential. I'm going to continue to try the 1min chart and see if I can't scalp some solid pips....don't like starring at the screen all day and can't since I work a full time job.

+13 is great, i personally only need 20 a day.

I have tried trading on the 1min, but I almost always get burnt.
  • #83
  • Feb 16, 2009 1:17pm Feb 16, 2009 1:17pm
Quoting Jnita
Lets see how this pan out:

1. macd ma fast crosses below macd ma slow
2. macd slow ma cross 21 ema down
3. stoc k120 cross d60 down
4. 80 ema high serves as resistance
5. stoc k120 crosses 50 level down

6. Ema 21 crossed macd slow MA up - this is where the questions start, do I stay in or get out

if I got out, trade would have +33 minus the spread.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 5min 16 feb 3.gif Size: 22 KB
  • #84
  • Feb 16, 2009 1:33pm Feb 16, 2009 1:33pm
Yes, I agree with you...my goal is 20 pips per day also. Of course I will take more but I use 20 as a mark that will allow me to trade for a living and very comfortably. I'm trying to get away from the 1min chart but right now my limited capital does not allow me to do much more than that or the 5min chart (which I see that you are having success with...I may have to give it a look).

Quoting Jnita
+13 is great, i personally only need 20 a day.

I have tried trading on the 1min, but I almost always get burnt.
  • #85
  • Feb 16, 2009 1:34pm Feb 16, 2009 1:34pm
Since I'm late, I'm sure you have already made a decision but I would suggest you move your stop loss up, locking in some pips...just in case of a wild spike or something and I would hold on and see if the 80ema high acts as resistance and keeps you in the trade.

Quoting Jnita
6. Ema 21 crossed macd slow MA up - this is where the questions start, do I stay in or get out

if I got out, trade would have +33 minus the spread.
  • #86
  • Feb 16, 2009 1:58pm Feb 16, 2009 1:58pm
Quoting Siuol
Since I'm late, I'm sure you have already made a decision but I would suggest you move your stop loss up, locking in some pips...just in case of a wild spike or something and I would hold on and see if the 80ema high acts as resistance and keeps you in the trade.

... was only paper trading this (training the brain to trade what I see, and not what I want to see), so no decision to make. You have a point and sound advice ... locking in pips, and it does seem that the best SL would be just above the 80 ema or the last resistance.
  • #87
  • Feb 16, 2009 2:15pm Feb 16, 2009 2:15pm
Great job on training yourself to trade what you see and not what you want to see. I'm working on that also. Takes time but I'm getting better. I look forward to trading this system and seeing what kind of results we can come up with. I think I can get my daily goal of at least 20 pips with this method.

Quoting Jnita
... was only paper trading this (training the brain to trade what I see, and not what I want to see), so no decision to make. You have a point and sound advice ... locking in pips, and it does seem that the best SL would be just above the 80 ema or the last resistance.
  • #88
  • Feb 16, 2009 2:30pm Feb 16, 2009 2:30pm
Quoting Siuol
Great job on training yourself to trade what you see and not what you want to see. I'm working on that also. Takes time but I'm getting better. I look forward to trading this system and seeing what kind of results we can come up with. I think I can get my daily goal of at least 20 pips with this method.
It will be great to hear your results, and if you don't mind and have time, pls keep us updated.

I'm off to bed, and will analysis this trade further in the morning. Hopefully this setup will hold tomorrow....
  • #89
  • Feb 16, 2009 2:38pm Feb 16, 2009 2:38pm
Sounds good and I will surely stay active in this thread.

Quoting Jnita
It will be great to hear your results, and if you don't mind and have time, pls keep us updated.

I'm off to bed, and will analysis this trade further in the morning. Hopefully this setup will hold tomorrow....
  • #90
  • Feb 16, 2009 3:06pm Feb 16, 2009 3:06pm
Quoting Jnita
6. Ema 21 crossed macd slow MA up - this is where the questions start, do I stay in or get out

if I got out, trade would have +33 minus the spread.

7. exit +14

(trade went ±56pips max)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 5min 16 feb 4.gif Size: 24 KB
  • #91
  • Edited 4:02pm Feb 16, 2009 3:21pm | Edited 4:02pm
Any suggestions on what you could have done differently to walk away with more than +14 when the trade was +56 at one point?

Quoting Jnita
7. exit +14

(trade went ±56pips max)
Edit: When I'm home and can post a chart, I was taught a manual trailing method years ago (kinda like a stop loss but you manually place the stop) that may be of some benefit. +14 on your trade is great but you gave back 42 pips, which is 75% of the maximum 56 pips. A profit is a profit but we don't want to give back 75% of a 56 pip winning trade. My method that I will post may not be the answer but it's a place to start at least. I will post the chart later today giving an example of how to manually trail the trade.
  • #92
  • Feb 16, 2009 8:05pm Feb 16, 2009 8:05pm
Here is a screenshot. I tried to explain the manual trailing method that one can use with this method.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot.jpg Size: 514 KB
  • #93
  • Feb 16, 2009 11:45pm Feb 16, 2009 11:45pm
Quoting Siuol
Here is a screenshot. I tried to explain the manual trailing method that one can use with this method.
I'll like it, and it would most surely almost always place you at a BE, within 15min.
  • #94
  • Feb 17, 2009 12:07am Feb 17, 2009 12:07am
Exactly. It would be able to get you to b/e sooner which means less losses.

Quoting Jnita
I'll like it, and it would most surely almost always place you at a BE, within 15min.
  • #95
  • Feb 17, 2009 12:11am Feb 17, 2009 12:11am
Here is my screenshot. I have 3 timeframes up to help me get an idea on what is going on in the higher timeframe. The trend is down overall but right now prices are in a sideways range. I'm waiting for prices to give a clear break of the range before making any trading decisions.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot.jpg Size: 468 KB
  • #96
  • Feb 17, 2009 12:59am Feb 17, 2009 12:59am
Sideways at the moment as you said.

My 1st trade on the eurgbp 5min ...let's see
Attached Image
  • #97
  • Feb 17, 2009 1:10am Feb 17, 2009 1:10am
By the way things are shaping up, I'm anticipating a possible move up. The 15min MACD and 1 hour MACD seem like they may be getting ready to roll up but that's just my point of view.

Quoting Jnita
Sideways at the moment as you said.

My 1st trade on the eurgbp 5min ...let's see
  • #98
  • Feb 17, 2009 1:21am Feb 17, 2009 1:21am
As of typing here, it could go either way. BUT, here is what I was looking at:

1. macd in a buy
2. k120 crossed d60 up
3. macd(38,120,20) cross arrow shows up - in a buy
4. here I got unsure - to stay in or get out. I decided to stay in and moved my SL to 18 (15+3spread)
5. look at the macd and saw that it was still in a buy

so far the market is still sideways and it could go either way, but lets see...
Attached Image
  • #99
  • Feb 17, 2009 1:38am Feb 17, 2009 1:38am
We probably won't see a pop in either direction until London opens.

Quoting Jnita
As of typing here, it could go either way. BUT, here is what I was looking at:

1. macd in a buy
2. k120 crossed d60 up
3. macd(38,120,20) cross arrow shows up - in a buy
4. here I got unsure - to stay in or get out. I decided to stay in and moved my SL to 18 (15+3spread)
5. look at the macd and saw that it was still in a buy

so far the market is still sideways and it could go either way, but lets see...
  • #100
  • Feb 17, 2009 1:57am Feb 17, 2009 1:57am
Gonna take a risky long trade. Price has yet to break through the 80ema tunnel but I'm gonn test something out real quick. Entry at 2638

Quoting Siuol
We probably won't see a pop in either direction until London opens.
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