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NIH98 Journal of Whatever

  • #621
  • Jul 25, 2019 3:43am Jul 25, 2019 3:43am
Quoting grenell
GU Tokyo Open (TO), set the indicator for TO. PO Long and Short set with SL and TP. See how the trade goes today. GBP should be intersting with a new Prime Minister and the BREXIT on offer. {image}
Hi grenell
I will leave you in charge today so the pressure is on
Dave
Ps
Keep the Dollar in mind though
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  • #622
  • Jul 25, 2019 7:34am Jul 25, 2019 7:34am
DAX tonight....very profitable trade
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  • #623
  • Jul 25, 2019 7:39am Jul 25, 2019 7:39am
GBPUSD not so good. Both PO triggered...both pulled back. My Trade Manager was set to 31Sl and TP however I had it loaded on another FX pair with the same MAGIC but the SL was set for scalping so both trades closed prematurely. One bad day does not make a bad system. Trading manually I would not have taken the trades until the candle closed outside the range...but who's got 8 hours to sit by a screen? I trade the DAX for 2 hours...LO to LO+2. I trade 1 Instrument, Median Renko 10 Brick, M5 and M15. I will consider this system for the DAX as price generally moves a lot in those 2 hours.
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  • #624
  • Jul 25, 2019 7:47am Jul 25, 2019 7:47am
Quoting grenell
GBPUSD not so good. Both PO triggered...both pulled back. My Trade Manager was set to 31Sl and TP however I had it loaded on another FX pair with the same MAGIC but the SL was set for scalping so both trades closed prematurely. One bad day does not make a bad system. Trading manually I would not have taken the trades until the candle closed outside the range...but who's got 8 hours to sit by a screen? I trade the DAX for 2 hours...LO to LO+2. I trade 1 Instrument, Median Renko 10 Brick, M5 and M15. I will consider this system for the DAX as price...
As you say I have taken the loss on the Sell but still in the Buy
Dave
  • #625
  • Jul 25, 2019 11:23am Jul 25, 2019 11:23am
Stuck to my rules only 2 trades per day, lost a sell and a Buy
Tomorrow is another day
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  • #626
  • Edited 5:37am Jul 26, 2019 4:20am | Edited 5:37am
I have tried to show any interested guys how I try to trade as systematic and stress fell as I can get it, trading mostly Daily but at time to time I have posted this Monthly chart, does anyone wonder what part it plays in my trading ?
Dave
ps
Added Dollar chart
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  • #627
  • Jul 26, 2019 6:12am Jul 26, 2019 6:12am
The thread is quite and I am bored, so I will post a few charts
If you think the Dollar is Strong or Weak
Dave
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  • #628
  • Jul 26, 2019 8:05am Jul 26, 2019 8:05am
Quoting OAPDave
{quote} Hi centuripe Thanks for you question, I have 2 accounts, I call one my Buy account and I call 1 my Sell account. I attach a Martingale to each account with a 1 1 3 5 8 increase So I took the Sell with 1 unit and it lost so I park that loss and got taken into the Buy with a 1 unit which won Now when I get a Sell I will enter again with 1 unit and if I hit target that will square my Sell account up again, if it fails I will enter again with 3 units, just remember that if my Sells fail, hopefully my Buys will be winning. So if you think about...
Hi OAPDave;

Thanks for your answer. I understood then how you manage your trade but it's more a 50/50 win on your trade. Maybe this setup can help you to filtered either to go long or short ? Need to see it live to check if it's a valuable solution for your strategy. If you look at yesterday trades by Following the SMA color you would normally only look for a short trade and avoid your loss. But again need to check in real time if it's work

Hope it's help
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  • #629
  • Jul 26, 2019 8:40am Jul 26, 2019 8:40am
Quoting centuripe
{quote} Hi OAPDave; Thanks for your answer. I understood then how you manage your trade but it's more a 50/50 win on your trade. Maybe this setup can help you to filtered either to go long or short ? Need to see it live to check if it's a valuable solution for your strategy. If you look at yesterday trades by Following the SMA color you would normally only look for a short trade and avoid your loss. But again need to check in real time if it's work Hope it's help {image}
Hi centuripe
Thanks for your interest and chart, but I have to say sorry but it does not help, your moving average would change from time frame to time frame were as my lines are the same in any time frame. My belief is that price as to make a Range be it Daily Weekly or even Monthly so when price moves a certain way and a certain number of pips I want to jump on board in the same direction, by drawing my chart the way I have (thanks to Nih98) I can see all the moves that's previously happen so I can make judgement calls if I want to play or even if the price as moved to fast and to far in one direction i see it as a clue. Right or wrong I let my money management take care of things and have based it on 1 to 1 risk reward for the purpose of this thread but lets suppose you looked for 2 3 or 4 times risk what percentage of winners would you need to show a profit.
It's very hard for guys to trade this way because they always think they know the direction, were in general I accept I do not, of course they need to operate a strict money-management plan of which not too many do or have.
The other ting of course at the start of a new day I can place all my orders, stops and targets and walk away as it will either win or lose and I know how much I will win or how much I will lose
Dave
  • #630
  • Jul 26, 2019 9:12am Jul 26, 2019 9:12am
Little drama last couple of days but finish the week Very Happy, as I stuck to my Plan
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  • #631
  • Jul 26, 2019 10:04am Jul 26, 2019 10:04am
Dave
i note your strategy starts at 00:00 each day. This means sometimes at the start of the new cycle price gaps up/down on market open. I know you mentioned setting OCO orders but isnt this risky if price can and often does gap. or you dont experience this?
  • #632
  • Jul 26, 2019 10:07am Jul 26, 2019 10:07am
Quoting OAPDave
{quote} Hi centuripe Thanks for your interest and chart, but I have to say sorry but it does not help, your moving average would change from time frame to time frame were as my lines are the same in any time frame. My belief is that price as to make a Range be it Daily Weekly or even Monthly so when price moves a certain way and a certain number of pips I want to jump on board in the same direction, by drawing my chart the way I have (thanks to Nih98) I can see all the moves that's previously happen so I can make judgement calls if I want to play...
Thanks for your answer

I understand your strategy and I share the same vision regards the market. I just want to be with it and not trying to beat it and as you said you need some mentality change to accept that.

I know he behaviour of the SMA I shared but from my side I keep to one time frame which is M15. Will tried next Week on several pair and if the results are Worth it I will share it.

Thanks again
  • #633
  • Jul 26, 2019 10:44am Jul 26, 2019 10:44am
Quoting rogertaggart
Dave i note your strategy starts at 00:00 each day. This means sometimes at the start of the new cycle price gaps up/down on market open. I know you mentioned setting OCO orders but isnt this risky if price can and often does gap. or you dont experience this?
Thats a fair question
But as you can see my platform treats Sunday as a separate day so in the main this covers when the biggest gap can appear, do not have much trouble with gaps in weekdays, also being a major something must be quite drastic to whipsaw this pair 31 pips in the Asian session but if it does it does and money management rules kick in, also I really do like to close by end of day Friday
This is not the Holy Grail, that's were you really do have to get your bank correct for the worst run you can find when back checking your given pair , you could even wait for say 3 Buys or Sells to fail then start with 1 unit
Dave
  • #634
  • Jul 26, 2019 10:54am Jul 26, 2019 10:54am
Think what we are really trading ie Range
here is a chart from my friend Xard777 just a slight difference in entry price
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  • #635
  • Jul 26, 2019 11:12am Jul 26, 2019 11:12am
Quoting centuripe
{quote} Thanks for your answer I understand your strategy and I share the same vision regards the market. I just want to be with it and not trying to beat it and as you said you need some mentality change to accept that. I know he behaviour of the SMA I shared but from my side I keep to one time frame which is M15. Will tried next Week on several pair and if the results are Worth it I will share it. Thanks again
Are you looking for setup something like this.
Dave
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  • #636
  • Jul 26, 2019 12:28pm Jul 26, 2019 12:28pm
Ok guys
I have hogged the thread this week with all my posts and charts, if you cannot see what I have tried to show by now, I really do not think you should be trading, if you do see it and it's not of any value to you , fair play I understand I am not here to tell you it's the Holy Grail, just to show there are many many ways to trade some simple some rather complex, so good luck to you all, I will take a backseat now and give someone else a chance.
Dave
  • #637
  • Jul 26, 2019 2:49pm Jul 26, 2019 2:49pm
Quoting OAPDave
Ok guys I have hogged the thread this week with all my posts and charts, if you cannot see what I have tried to show by now, I really do not think you should be trading, if you do see it and it's not of any value to you , fair play I understand I am not here to tell you it's the Holy Grail, just to show there are many many ways to trade some simple some rather complex, so good luck to you all, I will take a backseat now and give someone else a chance. Dave

Nobody says that what's you are sharing are not valuable ! Indeed it's Always interesting to see how someone see the market and learn from it !

Thanks again for that
  • #638
  • Jul 27, 2019 11:06am Jul 27, 2019 11:06am
Quoting OAPDave
Ok guys I have hogged the thread this week with all my posts and charts, if you cannot see what I have tried to show by now, I really do not think you should be trading, if you do see it and it's not of any value to you , fair play I understand I am not here to tell you it's the Holy Grail, just to show there are many many ways to trade some simple some rather complex, so good luck to you all, I will take a backseat now and give someone else a chance. Dave
Personally I like your approach Dave. It is simple, it cuts out emotional aspect and each trade is either a set win or a set loss. This makes it very simple to track profitability. Once this method is shown to have an edge it is a simple statistical task to ramp up lotsize within money management levels and derive regular profits.

However to prove there is a longtime edge, it would be necessary to back test an automated EA. Manual testing is too tedious. Does anyone have access to a decent coder or I could find one on fiverr if people would like to share development costs
  • #639
  • Jul 27, 2019 11:59am Jul 27, 2019 11:59am
Guys here is a thought, you know the money-management plan that's attached to this trading method,also you know I run it on consecutive days, To add an interesting twist, have you thought of running it on separate days ie
Every Monday win lose adjust unit stake following Monday
Every Tuesday win lose adjust unit stake following Tuesday
Repeat process for
Wednesday
Thursday
Friday
If you saved the results I guess you would have some interesting data to mull over.
Just a thought ?
Dave
  • #640
  • Jul 27, 2019 7:11pm Jul 27, 2019 7:11pm
Quoting OAPDave
I have tried to show any interested guys how I try to trade as systematic and stress fell as I can get it, trading mostly Daily but at time to time I have posted this Monthly chart, does anyone wonder what part it plays in my trading ? Dave ps Added Dollar chart {image} {image}

Hi Dave, Thanks for posting the monthly chart. Could u explain the concept of 1% octave? Is it similar to a % of ADR?

Kind Regards

Ferdinando
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