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Just for Kicks...

  • #1
  • First Post: Edited Apr 19, 2008 3:51pm Apr 14, 2008 8:32pm | Edited Apr 19, 2008 3:51pm
...
  • #2
  • Apr 14, 2008 8:36pm Apr 14, 2008 8:36pm
ok 1st trade
4/14 7:30 EST. Short at 199.48
Attached Image (click to enlarge)
Click to Enlarge Name: 4-14.gif Size: 22 KB
  • #3
  • Edited Apr 15, 2008 5:33am Apr 14, 2008 9:18pm | Edited Apr 15, 2008 5:33am
hahah go figure. After all that I had the setting in the SDL set at 60 not 80.
I never would have gotten in that "trade" if it was set at the right parameters. Oh well go figure!

***Well it turned out that a few hours later I got my short signal pretty much around the same price. Just this time didnt have to endure that drawdown.***

End Result for trade 1
Exit at 198.63
Results +85 for the week.
  • #4
  • Edited 10:39pm Apr 17, 2008 10:42am | Edited 10:39pm
So after some long hours studing the Slope Direction Line (SDL) I have decided that I am going to incorperate this into my actual trading. Right now I am testing/tracking this on GBPJPY. I am trying to do this as a Multiple Time Frame strategy becuase in my opinion this is the best way to trade.

So SDL-MTF will consist of ....

GBPJPY- Aggressive Trades
4HR- SDL set at Period 10, Method 3, Price 0.
1HR- SDL set at Period 7, Method 3, Price 0.
30M- SDL set at Period 13, Method 3, Price 0.
ATR- Value set at 14.

GBPJPY- Conservative Trades
Daily- SDL set at Period 10, Method 3, Price 0.
4HR- SDL set at Period 7, Method 3, Price 0.
1HR- SDL set at Period 13, Method 3, Price 0.
ATR- Value set at 14.

***The goal of SDL-MTF is to ride the 4HR/Daily trend while picking up gains on the 1HR/4HR and banking gains on the 30M/1HR***

For journal purposes I will be trading the more aggresive of the two plans.
As for TP and SL im not sure yet, thats why im testing this and not live trading...

I will post some charts and explain the entries later on tonight, Im kinda busy at work.
  • #5
  • Apr 17, 2008 10:36pm Apr 17, 2008 10:36pm
The rules for the Initial Entry Trade (IET4) are pretty straight forward.
For long positions the SDL must change from RED to BLUE. With that being said we must wait for the candle to close to confirm that it has changed. Once the open of a new candle confirms this that is our entry. The SL is the previous candles (Set-Up Candle's) low.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr-set-up.gif Size: 29 KB
  • #6
  • Last Post: Apr 17, 2008 11:02pm Apr 17, 2008 11:02pm
Its getting late and I need to get up early. Just finished watching the FLYERS beat the CAPS in double OT....


Tomorrow I will go over some ways to exit from the IET4 and start to explain the fundamentals of the 1HMT (1 Hour Medium Trade) as well as the 30MBPT (30M Banked Pips Trade)



GO FLYERS!!!
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