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Attachments: my system of 20 pips
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my system of 20 pips

  • Post #261
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  • Edited at 10:28pm Sep 25, 2014 9:09pm | Edited at 10:28pm
Quoting catextract89
this is EU just now. see what i mean? (sorry i forgot to attached it previously) {image}
Hi Cate,

At post #178, you wrote

EU

1. sell stop: 1.27600, TP: 1.276400 (I believe this will be 1.274000)
2. sell stop: 1.27200, TP: 1.270000

but at post#236, you show a buy trade at 1.2740 with a TP at 1.2760.

So, while post #178 says sell at 1.2760, post #236 shows buy at 1.2740.

Which one is correct?

Regards,
Blackeagle
Quoting panosmgr
{quote} Hello Cat... how price react to a (one) level? Or... what's it's reaction in 2 levels?? I don't know... I'm still trying... Maybe I make silly observations here... EDIT === Is the red circle bellow a "potential" area for future trades?? Are blue circles "closed" areas?? {image}
yes this level are correct
Quoting Jeg
Cate, do you check if in the past (history) one of your levels (00, 20,...) was crossed with a High momentum candle? so when the trend changes direction and we come back near by the past level (the one with crossed with momentum) we are ready to enter?
yes i will enter at the same level again and assume that price will go through
Quoting Jordancee91
so for ej now 138.800 good spot to buy? and what about stop loss? i assume 20 pips fix stop loss. if yes, how do you deal with whipsaws? correct me if i am wrong. humbly learning.
yes stop loss 20 pips. we filtered whipsaw. this is what the other trader are discussing now. join the discussion and maybe you will understand more. good luck
Quoting kraven
Well done Cate on a good thread. Just thought i'd stop by and see how it was going. Decided to play along. The pic below is of the EU. dotted lines are 20 separation. Would this be a valid trade or does the candle/direction have to be the same colour? {image}
yes, that is a valid buy. but i will not open the sell as you mention
Quoting borgu
Rules for this system ( this rule is pending Catextra's approval) Before you enter any trade follow the following instruction 1. Pray God to bless Catextra for sharing this. and stay positive 2. Identify the current the trend in bigger timeframe and watch out for breakout that aligns with the direction of the trend. 3. Breakout in levels ’00’ and ‘20’ are stronger. 4. In history look for candle with high momentum whose velocity breaks 20 pips (not a must though). Once you see it wait for a breakout in the opposite direction. 5. Mark out all the...
2. Identify the current the trend in bigger timeframe and watch out for breakout that aligns with the direction of the trend.
no. i did not follow the bigger time frame. i only monitor 1 hour timeframe.
3. Breakout in levels ’00’ and ‘20’ are stronger
no, this is forex. if it want to breakout at .10 level. it will do so. we must join them
4. In history look for candle with high momentum whose velocity breaks 20 pips (not a must though)
the history part is correct.
5. Mark out all the 20 points levels and identify previous support/resistance at those levels then enter on break out of those
you don't have to mark it yourself. go find sweetspot indicator and change the sublevel to 20
6. Stop loss rules
20 pips. or previous .20 level. say, buy open price xxx.600 SL at xxx.400
7. Money Management to stay always in profit
this will come later, try find the filter/trigger first
Quoting kraven
don't want to spoil the party but i think it's a lot easier then people here are trying to make it. look at post #128...Cat writes.. EU 1. sell stop: 1.27600, TP: 1.276400 2. sell stop: 1.27200, TP: 1.270000 now look at the long, uninterrupted candles were the arrows are. See how they go straight through the future trades. the candle with the red arrow opens and closes right through trade no 1 while the blue arrow goes all the way through Cat's no 2 trade before reversing. TOTALLY THROUGH. {image}
your blue circle as future potential trade zone is correct.
Quoting Blackeagle
{quote} Hi Cate, At post #128, you wrote EU 1. sell stop: 1.27600, TP: 1.276400 (I believe this will be 1.274000) 2. sell stop: 1.27200, TP: 1.270000 but at post#236, you show a buy trade at 1.2740 with a TP at 1.2760. So, while post #128 says sell at 1.2760, post #236 shows buy at 1.2740. Which one is correct? Regards, Blackeagle
i think the post 128 is a reply by artem_t. is this the correct one?

at post 236, i have a sell position first, then buy.

first trade, sell at 1.2760 and TP 1.2740
later that day, i buy at 1.2740 and TP 1.2760
Quoting catextract89
{quote} i think the post 128 is a reply by artem_t. is this the correct one?
Sorry, typo mistake, it was post#178, not 128.

Regards,
Blackeagle
Quoting Blackeagle
{quote} Sorry, typo mistake, it was post#178, not 128. Regards, Blackeagle
oh, so sorry, maybe that post is a little confusing.

what i meant to say is, i have put a sell stop there, on that day. not at that time.

when i make that post, all the position listed there already when to TP.

i say sell stop because i trade using pending order, i did not trade using market order.

i hope that clear things up. sorry for the misunderstanding.
guys, i'm so sorry because i cannot post a pic while i'm at office.

but look at EJ now. look at the level 138.600 and 138.800 look how price react.

now look how price react to that level yesterday. any comment?
Went straight through it yesterday (down) and you just made another 20 pips on the way back up!

But how did you get the short at the same price (138.800) on the way down?
Good Trading
i have reach my limit in PM. those you not yet received my reply. i will do so after the limit is lifted. so sorry
Quoting aud
Went straight through it yesterday (down) ...
First problem is it did not go straight through in one bar. Low of the first big bar is 138.608, and the next bar went until 138.422.

Second problem is if we are supposed to open a long position today at 138.600, why? Because if history repeats itself, then we should look for a short position at 138.800 today again.

Regards,
Blackeagle
Quoting aud
Went straight through it yesterday (down) and you just made another 20 pips on the way back up! But how did you get the short at the same price (138.800) on the way down?
i did not have a sell yesterday at 138.800. a buy would valid today at 138.600 and TP at 138.800 because we refer to history.
Cate,

At post #38, you opened a long position on EJ. I am attaching the same chart. AT this chart your position is shown by letter "D".
Can you please tell me "history repeats itself" bar for this trade "D"? Did you open that trade because of bar "A" or the move at "B" (3 bars move) or bar "C"?

Appreciate your time.

Regards,
Blackeagle
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 58 KB
Quoting Blackeagle
{quote} First problem is it did not go straight through in one bar. Low of the first big bar is 138.608, and the next bar went until 138.422. Second problem is if we are supposed to open a long position today at 138.600, why? Because if history repeats itself, then we should look for a short position at 138.800 today again. Regards, Blackeagle
it doesn't have to be a single bar pierce through the level. what matter is price. yesterday, price doesn't have any problem going through it, both are downward candle right.

as for shorting at 138.800, that is suitable. but not now. not at the next candle.
is it only buy/sell stop pending orders? do you ever use limit orders as well?
Quoting catextract89
{quote} i did not have a sell yesterday at 138.800. a buy would valid today at 138.600 and TP at 138.800 because we refer to history.
But when you refer to history and if it is repeating, why buy today? Yesterday's move which you base your today's buy decision was from 138.800 to 138.600 (down). So if history is repeating, why don't we expect the same thing today and try to sell from 138.800 to 138.600? You are doing exactly the opposite of history!!!

Regards,
Blackeagle
Quoting Blackeagle
Cate, At post #38, you opened a long position on EJ. I am attaching the same chart. AT this chart your position is shown by letter "D". Can you please tell me "history repeats itself" bar for this trade "D"? Did you open that trade because of bar "A" or the move at "B" (3 bars move) or bar "C"? Appreciate your time. Regards, Blackeagle {image}
i will sell at C because of B
will buy at D because of C
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