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Off Road System

  • #1,461
  • May 20, 2015 2:02am May 20, 2015 2:02am
Good morning friends. I see that all is well ...
Today I have overslept. We'll see what the day holds for us.
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  • #1,462
  • May 20, 2015 2:11am May 20, 2015 2:11am
Quoting aForexManiac
i like that, tnx man, is it working on a real account now? or only demos? and tnx again
I do not know which type of account, or batches that manage others. I think it's something private. In addition I also think that the reasoning and the system that we display is the same, whether in eal, either in demo (the one that would vary a bit is the psychology of the trader).
I take this opportunity to welcome, aForexManiac, and invite you to share with us your views.
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  • #1,463
  • May 20, 2015 3:47am May 20, 2015 3:47am
Good morning Patron~

Today I missed out the reversal pattern around support area for EJ (triple bottom). I have scalped around fibo levels (with price action and some luck ) and bag few pips.

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  • #1,464
  • May 21, 2015 4:38am May 21, 2015 4:38am
GBP breaks several resistances at the beginning of the London session and come up with great force.

GBPJPY M5
GJ leaves a correction flag and continues its bullish course.
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  • #1,465
  • May 21, 2015 7:44am May 21, 2015 7:44am
Quoting Patron
GBP breaks several resistances at the beginning of the London session and come up with great force. GBPJPY M5 GJ leaves a correction flag and continues its bullish course. {image}
Nice trades! Congrats Patron.

Did you decide to trade GBP pair due to the Euro related news? By the way, how does news affect your trade decision? You trade it or you avoid it?

Today I took several trades in EU (red news during that time), which I am feel not comfortable, yet the setup looked nice to turn away. Probably I was extremely lucky this time.

Some of the trades I made are outside of BB. Not following ORS rules too.

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  • #1,466
  • May 21, 2015 12:10pm May 21, 2015 12:10pm
Quoting kelvintc
{quote} Nice trades! Congrats Patron. Did you decide to trade GBP pair due to the Euro related news? By the way, how does news affect your trade decision? You trade it or you avoid it? Today I took several trades in EU (red news during that time), which I am feel not comfortable, yet the setup looked nice to turn away. Probably I was extremely lucky this time. Some of the trades I made are outside of BB. Not following ORS rules too. {image}

Thanks kelvintc.

I thought both the euro and sterling could climb today. But it seemed easier sterling because the GBPJPY was clear uptrend.
At the opening of London I took two similar to yours, with long euro trades, but was more comfortable with the pound.

The ORS has some recommendations to try to address some ambiguous situations. These are only recommendations. The spirit of the system attempts to establish the market condition with a simple template. Once established market condition, I advise the price action as a trigger for entry. I also encourage readers to take him to his own personality.
In short, once the market condition of bollinger bands established show us where a correction is born, or where a reverse born. However in violent rupture, the opposite side is the boss.

I ask those who like this template you set how to act bands and moving averages, according to market conditions. I put examples and suggestions in the first post. But I think the system is very flexible and each trader can use it in their own way. I do not know if I did it, but I'm glad every time someone succeeds in this work.

I did not publish my two trades of EURUSD, because there are many examples, but I found it interesting the strong movement of the GBPJPY.
I congratulate you on your trades. I think mine are quite similar ...
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  • #1,467
  • May 21, 2015 12:22pm May 21, 2015 12:22pm
Quoting kelvintc
{quote} Nice trades! Congrats Patron. Did you decide to trade GBP pair due to the Euro related news? By the way, how does news affect your trade decision? You trade it or you avoid it? Today I took several trades in EU (red news during that time), which I am feel not comfortable, yet the setup looked nice to turn away. Probably I was extremely lucky this time. Some of the trades I made are outside of BB. Not following ORS rules too. {image}
News.

For news I have no fixed rules. I think I am guided by the smell and the Big Picture. If I have the Big Picture very clear, I do not avoid the news. But if I'm not clear about the Big Picture, then I avoid the news.
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  • #1,468
  • May 22, 2015 1:19am May 22, 2015 1:19am
Quoting Patron
{quote} News. For news I have no fixed rules. I think I am guided by the smell and the Big Picture. If I have the Big Picture very clear, I do not avoid the news. But if I'm not clear about the Big Picture, then I avoid the news.
Good morning friends ~

Thanks Patron for your insights. I dont really use BB before, guess it is better to follow the rules to increase the odds.

Today, seems like the EU correction might continue towards fibo and resistance level. Wave B?

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  • #1,469
  • May 22, 2015 1:45am May 22, 2015 1:45am
Quoting kelvintc
{quote} Good morning friends ~ Thanks Patron for your insights. I dont really use BB before, guess it is better to follow the rules to increase the odds. Today, seems like the EU correction might continue towards fibo and resistance level. Wave B? {image}
Kelvintc good morning.
It seems that there are good chances of that happening, to continue upward correction. We'll see what happens.
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  • #1,470
  • May 22, 2015 1:53am May 22, 2015 1:53am
Quoting kelvintc
{quote} Good morning friends ~ Thanks Patron for your insights. I dont really use BB before, guess it is better to follow the rules to increase the odds. Today, seems like the EU correction might continue towards fibo and resistance level. Wave B? {image}
By the way, you do not use the EMA233?
Because the situation of EMA233, I do not like at M30, normally the price is respect it on many occasions. We'll see what happens.
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  • #1,471
  • May 22, 2015 2:03am May 22, 2015 2:03am
Quoting Patron
{quote} By the way, you do not use the EMA233? Because the situation of EMA233, I do not like at M30, normally the price is respect it on many occasions. We'll see what happens.
Yes, I do. use EMA233 on M1, use SMA50 on M5 onwards (http://www.forexfactory.com/showthre...39#post8244439)

Or is it better to use EMA233 on all timeframes?
  • #1,472
  • May 22, 2015 2:11am May 22, 2015 2:11am
Quoting kelvintc
{quote} Yes, I do. use EMA233 on M1, use SMA50 on M5 onwards (http://www.forexfactory.com/showthre...39#post8244439) Or is it better to use EMA233 on all timeframes?
I use the same template for all timeframes. After all, the market is fractal. But you know I say that every trader should do what he thinks is best. In my case, the EMA233 know where it is in different timeframes helps me better understand the market condition.
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  • #1,473
  • May 22, 2015 2:21am May 22, 2015 2:21am
Quoting kelvintc
{quote} Yes, I do. use EMA233 on M1, use SMA50 on M5 onwards (http://www.forexfactory.com/showthre...39#post8244439) Or is it better to use EMA233 on all timeframes?
In the post that references me, I recommend these moving averages as a further sign of possible changes in price direction. But it is only a sign that makes me pay attention to the time. A signal is not enough to make decisions. Furthermore, it is not the same as SMA50 EMA233 is above, below that.
Nor is the same as those moving averages go in the same direction, in opposite directions, etc .., etc .. So the trader with a pair of moving averages, Bollinger bands, and a momentum indicator may by observation, get an idea of the market condition at different levels.
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  • #1,474
  • May 22, 2015 2:30am May 22, 2015 2:30am
Quoting Patron
{quote} In the post that references me, I recommend these moving averages as a further sign of possible changes in price direction. But it is only a sign that makes me pay attention to the time. A signal is not enough to make decisions. Furthermore, it is not the same as SMA50 EMA233 is above, below that. Nor is the same as those moving averages go in the same direction, in opposite directions, etc .., etc .. So the trader with a pair of moving averages, Bollinger bands, and a momentum indicator may by observation, get an idea of the market condition...
Thanks. I think I got what you mean. One signal is not enough. We need a set of signals (wave, price action, areas of interest, momentum indicatior). Together with MA, we can have a brief idea of the market. I am new to your ORS system, thanks for your sharing. Will try to benefit from your sharings

In trending market, EMA233 does looks like a dynamic support/resistance.
  • #1,475
  • May 22, 2015 2:43am May 22, 2015 2:43am
Quoting kelvintc
{quote} Thanks. I think I got what you mean. One signal is not enough. We need a set of signals (wave, price action, areas of interest, momentum indicatior). Together with MA, we can have a brief idea of the market. I am new to your ORS system, thanks for your sharing. Will try to benefit from your sharings In trending market, EMA233 does looks like a dynamic support/resistance.
That's exactly what I intend. It works for me right this way to read the market. Sometimes I'm wrong, but the stoploss are for that, and so far there are more hits than errors.

Thank you for your participation and for your interest. Until now you have posted trades are generally positive. I hope it stays that way for long.
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  • #1,476
  • May 22, 2015 2:54am May 22, 2015 2:54am
Quoting Patron
{quote} That's exactly what I intend. It works for me right this way to read the market. Sometimes I'm wrong, but the stoploss are for that, and so far there are more hits than errors. Thank you for your participation and for your interest. Until now you have posted trades are generally positive. I hope it stays that way for long.
I hope for the same as well I like your 'quota' style, which can minimize one's exposure to the market (avoid over-trading).

Sometimes, I am too greedy, pulling trigger before the confirmation (while there is no confirmation and pattern is not clear).
Especially when the market suddenly decides to consolidate within ranges, I tend to buy at top / sell at bottom.

Besides that, I feel like NY session has more news related (impact) moves. Perhaps I should ban myself from taking trades in NY session.
  • #1,477
  • May 22, 2015 3:13am May 22, 2015 3:13am
Quoting kelvintc
{quote} I hope for the same as well I like your 'quota' style, which can minimize one's exposure to the market (avoid over-trading). Sometimes, I am too greedy, pulling trigger before the confirmation (while there is no confirmation and pattern is not clear). Especially when the market suddenly decides to consolidate within ranges, I tend to buy at top / sell at bottom. Besides that, I feel like NY session has more news related (impact) moves. Perhaps I should ban myself from taking trades in NY session.
If you know your mistakes and your weaknesses, you have a great advantage to improve. I try to get my quota before 10:00 GMT. And almost never work the NY session.
Right now, and I have my 50 pips, but I can not publish because it is a very short trading scalping (3 pips 5 pips 6 pips). If the market is not clear, then I close my live trading platform, and open a demo to practice new things or new ground, but not again risk my quota. And if I'm tired, because I'm going for a walk.
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  • #1,478
  • May 22, 2015 3:20am May 22, 2015 3:20am
Quoting Patron
{quote} If you know your mistakes and your weaknesses, you have a great advantage to improve. I try to get my quota before 10:00 GMT. And almost never work the NY session. Right now, and I have my 50 pips, but I can not publish because it is a very short trading scalping (3 pips 5 pips 6 pips). If the market is not clear, then I close my live trading platform, and open a demo to practice new things or new ground, but not again risk my quota. And if I'm tired, because I'm going for a walk.
Congrats! Pips are pips.

Had few chances to grab and hit daily target (30-40), but ended up at BE. Looks like this europe session is another lateral undecided day.

Knowing when to TP and when to hold the trade is something that I am still learning now.
  • #1,479
  • May 22, 2015 3:25am May 22, 2015 3:25am
Quoting kelvintc
{quote} Congrats! Pips are pips. Had few chances to grab and hit daily target (30-40), but ended up at BE. Looks like this europe session is another lateral undecided day. Knowing when to TP and when to hold the trade is something that I am still learning now.
See you later. Bye.
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  • #1,480
  • May 22, 2015 8:11am May 22, 2015 8:11am
hi guys...

It was a hard day for me. In the morning, I made some newbie mistakes (yep, I still do them after 8 years of trading ) and went into negative 2x of my daily stop limit. then, I left my computer and calmed down. when I came back EURUSD was just at the place I was waiting since yesterday. then I shorted it for the last time and got 440 pips with the last move. while I am writing this post I see that it continued to advance lower (~50 pips more), which means I left a lot on the table again (~200 pips more on 4 positions)!! but I tripled my daily target, so I can't whine about it, right?

M1 EURUSD +440 pips

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