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  • #181
  • Oct 24, 2006 11:48am Oct 24, 2006 11:48am
Quoting fixme1too
its after 1200pm est we may not move that much now. London markets closed now too. Also interest news coming out tomorrow traders are not going to move market much now. may see alot of consolidation. in pairs with usd cross. We should be able to atleast get a 20 pip move upwards on the usdjpy pair to take our short position. will stay in usdcad where im at. so for since I gave signal on this pair it has moved total 200pips I gave position at 1.1400. Then it has retraced 121 pips. Let hope this Short now is our journey down to 1.1085
fixme1too,

My analysis has the cad to 1060 as well over the mid term. We'll have to see what the news does to the trend in the short term.

Northpro
  • #182
  • Oct 24, 2006 11:51am Oct 24, 2006 11:51am
Even told jjenkin777 Sunday to wait and enter usdcad to short at 1.1320. LOL I need to start taking my own advice more seriously. LOLhttp://www.forexfactory.com/forexfor...ons/icon12.gif


THIS IS FROM 10-20-06 last Friday.
Quoting fixme1too
A LOOK AT THIS WEEK

USDCAD position opened at 1.1396 up 149 pips so far

-Opened a position last night on USDJPY opened at 118.07 should had kept this one but it met resistance and stayed stuck there for a while so i got out but it did as predicted and went up. Currently at 118.67 with a high today of 118.79. I think it will continue to go up a little will speak more about this in week to come portion.


Opened short position on the AUDUSD pair at .7600

WEEK TO COME

USDCAD good point for reentry on short is 1.1320 with stop at 1.1385 and take profit at 1.1180 but ultimately 1.1090


USDJPY short at 119.10 sl is 119.85 tp will be 117.40for 150 pips

AUDUSD REALLY GOOD TIME FOR REENTRY NOW at open next week. Right now we are in A wave on daily and it is overextended and overbought according to rsi . My TP is .7500 SL is 7650

EURUSD good entry 1.2565 SL 1.2500 tp 1.2725 depending on price movement and momentum this could go higher like to 1.2775

and THE GOOD OLE GBPUSD I believe will keep gooing to the 1.9000's like 1.9050 or higher once this Wave 1 on the daily complete then I will start trading ithe pair again because then I will have better gauge on GBPUSD direction.

Hope everyone have a very nice weekend and lets make some money next week.http://www.forexfactory.com/forexfor...ons/icon12.gif
  • #183
  • Oct 24, 2006 11:53am Oct 24, 2006 11:53am
I agree I think that is what has been causing overextention of the waves and causing pairs that usually dont hit extreme fibs to hit extreme fibs.



Quoting Northpro
fixme1too,

My analysis has the cad to 1060 as well over the mid term. We'll have to see what the news does to the trend in the short term.

Northpro
  • #184
  • Oct 24, 2006 2:47pm Oct 24, 2006 2:47pm
Looks like we are getting close to the 119.40 mark on usdjpy maybe good reentry point for short
  • #185
  • Oct 24, 2006 3:21pm Oct 24, 2006 3:21pm
I wrote this in avg day trading stragety is there anyone here that can write ea for this.

If so please pm me. I forgot all about this system. It works really good and can avg about 200 pips easy per week. on the GBPUSD pair. If I keep this up I can trade FULL TIME and really make some money. but with this system we would basically straddle on daily chart and then set stops at 35 pips take profit at 50 pips and alot of pips can be left on table but with 50 pips per day who cares. PLEASE PM ME IF YOU CAN WRITE EA FOR THIS


Hello Micardo I would like to commend you on attempting to structure you own system to make some money. I was always told the best way to get something finished is to start. I believe once you are actually finished designing your system you will find it to be very profitable. I had one suggestion. I to also believe the best way to make money is forex is by watching price movement. I dont know how to use MT4 to back testing but I used to use a system on the 1hour chart where as you take previous bars high and low add them together then divide. Basically an avg of the previous bar. Once price moved beyond my avg I would trade in that direction and scalp pips. Sounds like you can do the same here. Lets take GBPUSD bar for last Tuesday the middle was 1.8671 the following day opened above the middle at 1.8697 the high for the day was 1.8739 difference of 40 pips you could have scalped. Then the middle for Wednesday was 1.8685 Thursday bar opened at 1.8674 so we would have been stopped out if we went short. but would have picked it up on the long side once we passed the 1.8685 mark. the high for thursday was 1.8798. So we would had made 113 pips minus the spread and 30 pips lost I think its like 71 pips and we can use ATR for exit or your 30 pip system or trailing stops for exit. What do you think about this.
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  • #186
  • Oct 24, 2006 3:46pm Oct 24, 2006 3:46pm
Thanks for posting the "Secrets of Master Traders"
  • #187
  • Oct 24, 2006 3:53pm Oct 24, 2006 3:53pm
Quoting fixme1too
Even told jjenkin777 Sunday to wait and enter usdcad to short at 1.1320. LOL I need to start taking my own advice more seriously. LOLhttp://www.forexfactory.com/forexfor...ons/icon12.gif


THIS IS FROM 10-20-06 last Friday.
fixme1too

Good call on the Can/Usd retracement. I was just a little anxious to put a position in. Set a pretty wide stop so I am still in. I have a demo miniaccount so I haven't posted any really negative pips yet.

If the A leg is a five wave impulse (which I haven't done a count on yet) we could be looking at another large retracement with the C leg.

Jeffrey
  • #188
  • Oct 24, 2006 3:58pm Oct 24, 2006 3:58pm
fixme1too,

Here is my one hour chart on Gpd/Usd with count. The North bound channel I counted a five wave pattern and the first leg of this south channel I count a five wave pattern as well.

Are you viewing this as a first wave move with the A leg being the first leg of a zig-zag correction.

Or do you have the north bound impulse as an ending C wave and this south bound channel being the first wave of a new trend?

Thanks
Jeffrey
  • #189
  • Oct 24, 2006 3:59pm Oct 24, 2006 3:59pm
looks like an Evening Doji Star may form on the USDCAD at close of today on daily will be good entry for short.
  • #190
  • Oct 24, 2006 3:59pm Oct 24, 2006 3:59pm
Oops, forgot the chart.

Jeffrey
Attached Image
  • #191
  • Oct 24, 2006 3:59pm Oct 24, 2006 3:59pm
Quoting fixme1too
I wrote this in avg day trading stragety is there anyone here that can write ea for this.

If so please pm me. I forgot all about this system. It works really good and can avg about 200 pips easy per week. on the GBPUSD pair. If I keep this up I can trade FULL TIME and really make some money. but with this system we would basically straddle on daily chart and then set stops at 35 pips take profit at 50 pips and alot of pips can be left on table but with 50 pips per day who cares. PLEASE PM ME IF YOU CAN WRITE EA FOR THIS


Hello Micardo I would like to commend you on attempting to structure you own system to make some money. I was always told the best way to get something finished is to start. I believe once you are actually finished designing your system you will find it to be very profitable. I had one suggestion. I to also believe the best way to make money is forex is by watching price movement. I dont know how to use MT4 to back testing but I used to use a system on the 1hour chart where as you take previous bars high and low add them together then divide. Basically an avg of the previous bar. Once price moved beyond my avg I would trade in that direction and scalp pips. Sounds like you can do the same here. Lets take GBPUSD bar for last Tuesday the middle was 1.8671 the following day opened above the middle at 1.8697 the high for the day was 1.8739 difference of 40 pips you could have scalped. Then the middle for Wednesday was 1.8685 Thursday bar opened at 1.8674 so we would have been stopped out if we went short. but would have picked it up on the long side once we passed the 1.8685 mark. the high for thursday was 1.8798. So we would had made 113 pips minus the spread and 30 pips lost I think its like 71 pips and we can use ATR for exit or your 30 pip system or trailing stops for exit. What do you think about this.
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fixme1too,

You can also use the following for targets...load it into excel and try it on a backtest. Let me know as I am curious.

H: High
L: Low
C: Close

Targets: R2,R1,S1,S2

eg.
<table x:str="" style="border-collapse: collapse; width: 275pt;" border="0" cellpadding="0" cellspacing="0" width="367"> <tbody><tr style="height: 12pt;" height="16"><td class="xl34" style="border-top: medium none; height: 12pt;" height="16">R2 =</td> <td class="xl35" style="border-top: medium none;">P + ( H - L )</td> <td class="xl42" style="border-top: medium none;" x:num="1.306" x:fmla="=ROUND( ( C10 + ( C3 - C5 ) ), C6 )" align="right">1.3060</td> </tr> <tr style="height: 12pt;" height="16"> <td class="xl34" style="border-top: medium none; height: 12pt;" height="16">R1 =</td> <td class="xl35" style="border-top: medium none;">( P x 2 ) - L</td> <td class="xl42" style="border-top: medium none;" x:num="1.2875000000000001" x:fmla="=ROUND( ( ( C10 * 2 ) - C5 ), C6 )" align="right">1.2875</td> </tr> <tr style="height: 12pt;" height="16"> <td class="xl36" style="height: 12pt;" height="16">P =</td> <td class="xl37">( H + L + C ) / 3</td> <td class="xl26" x:num="1.2676000000000001" x:fmla="=ROUND( ( ( C3 + C5 + C4 ) / 3 ), C6 )" align="right">1.2676</td> </tr> <tr style="height: 12pt;" height="16"> <td class="xl34" style="border-top: medium none; height: 12pt;" height="16">S1 =</td> <td class="xl35" style="border-top: medium none;">( P x 2 ) - H</td> <td class="xl43" style="border-top: medium none;" x:num="1.2491000000000001" x:fmla="=ROUND( ( ( C10 * 2 ) - C3 ), C6 )" align="right">1.2491</td> </tr> <tr style="height: 12pt;" height="16"> <td class="xl34" style="border-top: medium none; height: 12pt;" height="16">S2 =</td> <td class="xl35" style="border-top: medium none;">P - ( H - L )</td> <td class="xl43" style="border-top: medium none;" x:num="1.2292000000000001" x:fmla="=ROUND( ( C10 - ( C3 - C5 ) ), C6 )" align="right">1.2292</td></tr></tbody> </table>
Northpro
  • #192
  • Oct 24, 2006 4:14pm Oct 24, 2006 4:14pm
This is how I also see it. But I see it better on the 4 hour chart to many complex waves on hourly confuses me lol makes me sea sick.



Quoting jjenkin777
Oops, forgot the chart.

Jeffrey
  • #193
  • Oct 24, 2006 4:21pm Oct 24, 2006 4:21pm
Quoting fixme1too
This is how I also see it. But I see it better on the 4 hour chart to many complex waves on hourly confuses me lol makes me sea sick.
You mean like this?

Jeffrey
Attached Image
  • #194
  • Oct 24, 2006 4:43pm Oct 24, 2006 4:43pm
Jeffery I'm still looking at this one GBPUSD so many possible flats on daily complex waves to me on hourly. Thats why Im not in right now to foggy lol I havent bothered to really try to analyze it yet. Just wanted to watch it play out but now I'm trying to see how I counted on daily sending us up. I will really need to look at this one to be as certain as possible. THE GBPUSD is the monster of forex right now but can be very profitable. Lets look at 1.1284 to 90 for reentry on usdcad
  • #195
  • Oct 24, 2006 5:16pm Oct 24, 2006 5:16pm
heres how I see the GBPUSD Jefferey. Peak to the left of B was 5 Jeff. Right now we are in mini wave 2 of the bigger wave 1.
Attached Image
  • #196
  • Oct 24, 2006 5:27pm Oct 24, 2006 5:27pm
Quoting fixme1too
heres how I see the GBPUSD Jefferey. Peak to the left of B was 5 Jeff. Right now we are in mini wave 2 of the bigger wave 1.
I think I see what you're getting at here. This pair has been real tough for me to put a meaningful count on. I'll have to sharpen my pencils and give it another go this week.

Jeffrey
  • #197
  • Oct 24, 2006 5:36pm Oct 24, 2006 5:36pm
Lets see how my old system works tonight. We will call it FiXmE1ToO's Center point. The center point for today on GBPUSD is 1.8720 , USDCAD is 1.1285 and USDJPY is 119.37.


For now I will be testing this on the GBPUSD pair. So far we are already below the center points on the USDCAD indicating good short oppurtunity on 8:00 open But I gonna be short on this for a while. Right now the USDJPY is trading above the center point but lets bet lol it will be below at close of today. When the GBPUSD open for tomorrow I'm gonna open probably long position with trailing stop after 50pip and stop at 30 pips. I'm gonna place limit order to open short at 10 pips below center point. with take profit at 20 pips. I must say I am also using some elliot wave with this but only as extra gauge on direction we should trade. Since we are not going into short direction I put different parameters on short side. This is very to the straddle techinique the news traders like. Also I do not suggest using my centerpoint method during news time. Lets have some fun and make some money.http://www.forexfactory.com/forexfor...ons/icon12.gif
  • #198
  • Oct 24, 2006 5:44pm Oct 24, 2006 5:44pm
Seeing that the center point on the USDCAD is 1.1285 I probably wont trade above that good entry for short is or as close to 1.1285 as possible if you want to be at the top.
  • #199
  • Oct 24, 2006 7:04pm Oct 24, 2006 7:04pm
Im short USDJPY at 119.40 and short USDCAD at 1.1275 and long GBPUSD for testing purpose only with parameters as stated before 50pip tp sl at 30pip and blah blah blah
  • #200
  • Oct 25, 2006 4:33am Oct 25, 2006 4:33am
got fifty pips on gbpusd trading my center point
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