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  • Post #101
  • Quote
  • Feb 29, 2012 11:02am Feb 29, 2012 11:02am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Well we finally have some positive movement on the U/J. I've moved my stop to BE + 2 and will look for new entries starting with the next H4 bar.
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  • Post #102
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  • Feb 29, 2012 11:05am Feb 29, 2012 11:05am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Quoting rgrace
Disliked
Seems to be picking up on U/J.
Ignored

Lol. Looks like we spotted it at the same time. Nice catch.
  • Post #103
  • Quote
  • Feb 29, 2012 7:43pm Feb 29, 2012 7:43pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
I missed the H4 entry on the last bar as I was not available at my screen. I'm taking it this bar as we've retraced to the 50% fib and I doubt it will move much before the bar closes.
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  • Post #104
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  • Mar 1, 2012 8:33am Mar 1, 2012 8:33am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Stopped out last night. Placing new limit order on H4 bar at 81.02 with a stop at 80.86
  • Post #105
  • Quote
  • Mar 1, 2012 1:37pm Mar 1, 2012 1:37pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Hit my limit order and moved up. I've moved stop to BE even though its tight, because I wanted to take the new entry at the open of the H4 bar. So now I'm in that one at 81.14 with a stop at 80.89
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  • Post #106
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  • Mar 1, 2012 10:47pm Mar 1, 2012 10:47pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Moving stop to be before hitting the sack. Sleep well all. Unless you're up that is.
  • Post #107
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  • Mar 2, 2012 7:19am Mar 2, 2012 7:19am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Entered again at the H4 50% upon getting up this morning. Entry is at 81.55 with a stop at 81.36
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  • Post #108
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  • Mar 2, 2012 8:22am Mar 2, 2012 8:22am
  •  k4u
  • | Joined Aug 2011 | Status: Member | 26 Posts
Hi
Your thread is great. But y you entered buy in usdjpy since there is daily resistance at 81.761?
  • Post #109
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  • Mar 2, 2012 9:09am Mar 2, 2012 9:09am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Quoting k4u
Disliked
Hi
Your thread is great. But y you entered buy in usdjpy since there is daily resistance at 81.761?
Ignored
K4u,

Thanks for joining in. To answer your question, I don't concentrate on the s/r with this technique.

Let's face it, if we looked at every parameter possible to screen for trades, i.e. s/r, round numbers, trend lines, etc. we'd never make a trade. Not that those aren't useful tools, just not for this strategy...time will tell.
  • Post #110
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  • Mar 2, 2012 9:21am Mar 2, 2012 9:21am
  •  BatmanXXL
  • | Joined Nov 2010 | Status: Member | 26 Posts
Resistance is there to be broken . If it reverse at support with FB, we will start closing positions and start to follow market downside. (at least we try)

We stacking until the trend is intact which is for us when opposite candle close under open of previous candle on D1. We trying not to forecast, but we following/stacking market until opportunity/trend dies.
Spider really catch this UY trend early, and had luck that it goes very strongly. Nice...your equity starts to go up again after stall. It makes me worry that almost only UY positions surviving .. Would be nice we catch some other trends as well.
  • Post #111
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  • Mar 2, 2012 10:10am Mar 2, 2012 10:10am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Quoting BatmanXXL
Disliked
Resistance is there to be broken . If it reverse at support with FB, we will start closing positions and start to follow market downside. (at least we try)

We stacking until the trend is intact which is for us when opposite candle close under open of previous candle on D1. We trying not to forecast, but we following/stacking market until opportunity/trend dies.
Spider really catch this UY trend early, and had luck that it goes very strongly. Nice...your equity starts to go up again after stall. It makes me worry that almost only UY positions...
Ignored
Well said Batman.

I too would like to see some more legs growing. Right now I've got legs going on E/C, E/G, E/U and G/Chf. They're babies but hopefully they'll mature. We definitely hit it good with U/J. Haven't closed out any on purpose yet.
  • Post #112
  • Quote
  • Mar 2, 2012 11:26am Mar 2, 2012 11:26am
  •  aball6412
  • | Joined Aug 2011 | Status: Junior Member | 1 Post
Spyder,

First off thanks for the great thread! I love Graeme's approach to trading, and have been trying to implement it myself. Quick question though. Are you sticking strictly to Joe's approach, as in, eventually closing all legs? Or will you diversify and leave one or two legs open for long term growth? Thanks again.
  • Post #113
  • Quote
  • Mar 2, 2012 1:50pm Mar 2, 2012 1:50pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Quoting aball6412
Disliked
Spyder,

First off thanks for the great thread! I love Graeme's approach to trading, and have been trying to implement it myself. Quick question though. Are you sticking strictly to Joe's approach, as in, eventually closing all legs? Or will you diversify and leave one or two legs open for long term growth? Thanks again.
Ignored
That's an excellent question and one I've been waiting to address.

I absolutely love Graeme's thread and it definitely changed the way I think about trading. That being said I have struggled with the idea of "never" closing some positions.

Logistically, what if you want to change brokers for some reason. Now you have these potentially huge trades open that would get totally messed up by changing. Or if you have enough legs going you may want to spread out your trading to different broker's. Same problem.

I wish Graeme was still around so he could comment, but it seems you can accomplish just as much in closing those positions when the time is right. You can still start trading in the original direction if the trend continues.

So, to answer in short, yes I plan on closing all positions as the indication in line with Joe's technique is met. Seems to make more sense to me.

Any thoughts from others?
  • Post #114
  • Quote
  • Mar 2, 2012 1:55pm Mar 2, 2012 1:55pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Quoting BatmanXXL
Disliked
Would be nice we catch some other trends as well.
Ignored

I think this highlights an important point. It would probably be a mistake to think that we are going to typically have several trends like the current U/J going at the same time.

I think that is much of the core of this strategy. You get these occasional trends (At least I hope that is what this is ) that, once closed, fund your losses and then some until you catch another one.

That's why you have to expect a certain amount of drawdown, especially starting out, and at other intervals during trading. It's just a question of how long you have to wait to hit that first larger trend.
  • Post #115
  • Quote
  • Mar 2, 2012 2:57pm Mar 2, 2012 2:57pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Stop moved to BE +2 on latest order. Nice place to be going into the weekend.
  • Post #116
  • Quote
  • Mar 4, 2012 12:06pm Mar 4, 2012 12:06pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Before starting the trading week out, here's a quick snapshot of the daily and weekly on the U/J. You can see the pull back from a few days ago and a slight dip in the MA, then we've continued back up. That's a fantastic growth (can't expect that always) that we hope continues.

Maybe we've got in on the bottom of a new long-term uptrend. That would be great for the thread to follow...and it wouldn't hurt yours truly.
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  • Post #117
  • Quote
  • Mar 4, 2012 12:13pm Mar 4, 2012 12:13pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
In reference to earlier discussions about lot sizing, particularly on stacking orders, I've decided the following.

I'm going to leave the U/J as is for now, just trading the same lot size on all orders. I may adjust that later depending on how events unfold.

My other legs I'm beginning the "set % of equity" approach. So for example, my initial order with s/l will be at 1% of equity. All stacks will likewise be adjusted in lot size to be around 1%. We'll see how that goes.
  • Post #118
  • Quote
  • Mar 4, 2012 6:41pm Mar 4, 2012 6:41pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
New entry tonight on the U/J at the 50% fib on the H4. Entry at 81.70 with a stop at 81.53
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  • Post #119
  • Quote
  • Mar 4, 2012 7:51pm Mar 4, 2012 7:51pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Got stopped out. Pretty tight s/l. We'll see about trying again if it heads back up.
  • Post #120
  • Quote
  • Mar 4, 2012 8:08pm Mar 4, 2012 8:08pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,138 Posts
Reentered at 81.60 with a s/l at 81.49
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