Disliked{quote} {image} I use a 4HR chart with a 48 period MA which is roughly an 8dayMA. When shorting, I place orders to sell short at intervals of 20 pips above the MA. If the price goes all the way up to 100 pips above the MA I will have 5 shorts going. Then, when it goes back below the MA I take profit at levels of 20 pips below the MA. I take of parts of the total position as the price goes down and I get completely out flat when the price goes back up through the MA. On that last trade I took profit at five levels before closing out completely when...Ignored
- #95,863
- Oct 3, 2019 12:21pm Oct 3, 2019 12:21pm
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
EUR/USD: Daily TF (Weekly MTF mode)
Near term positioning... buy the dips
Entry: 1.08850 - 1.09350
TP: 1.10800
SL: based on position sizing or own prerogative
Near term positioning... buy the dips
Entry: 1.08850 - 1.09350
TP: 1.10800
SL: based on position sizing or own prerogative
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
{quote} May I please confirm my understanding of your top tiered 8dayMA system (that's what I call it); your plan is that after price drops back below the 8dayMA and then eventually returns once again to the 8dayMA you will take profit, as you did in your previous setup where the period was 48 4H non-touched candles from below the 8dayMA ?? Thank you!
So with that, it would not be out of the ordinary for us to see prices stay above the average clear until Friday the 11th of October and to reach levels of 1.1060 or more.
- #95,868
- Oct 3, 2019 12:45pm Oct 3, 2019 12:45pm
- Joined Sep 2013 | Status: Trader | 1,646 Posts
Don't believe me just watch!
{quote} Thanks ArbitragAcid! I copied it too. I am using TradingView. Script works good. Just had to change white to black since I use white background. And just have to figure out how to add the labels to end of the lines, ex: "48 period MA on the 4HR chart". Is there a parameter (or argument) to add to the script or indicator for the "EUR/USD" chart?
My chart is simply clean like this. You can see the values of each of the lines in the legend (1.12976, 1.0976, 1.10476, etc.) But really all I care about is the value for the MA which is the middle value there (1.09476). In fact, the actual trading app that I use (Oanda) does not show me anything but the moving average.
I use a spreadsheet with cells that calculate my position sizes and my entries so I can simply enter the orders (or adjust them) with that. It is a simple sheet that I can look at from my phone or from any computer. All I need to know is the current value for the moving average and my current closed account value and the spread sheet gives me my entries and their position sizes.
I put on a certain percentage of equity at risk from the 20 pip entry to the 350 pip stop. My calculator tells me the position size that will give me that risk based on my current equity. I put on a different percentage for the 40 pip entry and so on. The spreadsheet gives me all 6 entries in a flash.
Once I am in a position I enter my total position size into another field and calculate my exits. If the price moves against me and I take another entry adding to my position size I update my position size in the spreadsheet and thus I update my exits. All of the exits never add up to my total position size because my final exit will only be taken out by a groomed stop loss that follows the moving average.
