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  • #181
  • Oct 31, 2006 10:06am Oct 31, 2006 10:06am
Quoting parabolic
Hi Kamanda!

If I understand your strategy correctly you went Short Today at 1.8960 (Daily Close 1.8995 - 35). You were stopped out at 1.9015 where you opened at Long Position with 2 Lots with Target 1.9065 and Stop Loss 1.8940.

Are these numbers correct? Then you made a big profit despite beeing initially stopped out.

Congratulations!
....Parabolic you got it & looks like you understand this strategy very well..just closed my position with 55 pip profit,but the difference is daily close,which broker are you using?
  • #182
  • Oct 31, 2006 10:08am Oct 31, 2006 10:08am
Kamanda.... Can I ask a question....

Why do you always go short at 35 and long at 55? What is the reasoning behind that....
  • #183
  • Oct 31, 2006 10:23am Oct 31, 2006 10:23am
Parbolic and Kamanda,

At the risk of becoming annoying.... where did you get the daily close of 1.8995. On my platform (Oanda) I can find no daily candle with that close.
Oanda daily candles close at 00:00 GMT. The 10/27 (friday) candle on Oanda shows a close of 1.8983. From a previous post to Kamanda the 10/27 close would be the one used at 5pm EST Monday to set up the next trade's parameters.
Again, forgive if annoying...but what am I missing here on the daily close determination?

Thanks.





Quoting parabolic
Hi Kamanda!

If I understand your strategy correctly you went Short Today at 1.8960 (Daily Close 1.8995 - 35). You were stopped out at 1.9015 where you opened at Long Position with 2 Lots with Target 1.9065 and Stop Loss 1.8940.

Are these numbers correct? Then you made a big profit despite beeing initially stopped out.

Congratulations!
  • #184
  • Oct 31, 2006 10:34am Oct 31, 2006 10:34am
Quoting kamanda
....Parabolic you got it & looks like you understand this strategy very well..just closed my position with 55 pip profit,but the difference is daily close,which broker are you using?
I looked at the daily candle of Interbank FX. They use GMT.

But if you open the trade at 5 pm ET this would be 2 hours earlier (10 pm GMT). At this time the price was at 1.9012. Is this closer to your value?
  • #185
  • Oct 31, 2006 10:34am Oct 31, 2006 10:34am
..INANJ ..i use forex.com,the daily close for monday was 1.9017....thats why i told Parabolic his daily close is different from mine.
  • #186
  • Oct 31, 2006 10:39am Oct 31, 2006 10:39am
Kamanda could you please answer my question as I have asked you quite a few times.... why 35 short and 55 long?
  • #187
  • Oct 31, 2006 10:41am Oct 31, 2006 10:41am
Quoting INANJ
Parbolic and Kamanda,

At the risk of becoming annoying.... where did you get the daily close of 1.8995. On my platform (Oanda) I can find no daily candle with that close.
Oanda daily candles close at 00:00 GMT. The 10/27 (friday) candle on Oanda shows a close of 1.8983. From a previous post to Kamanda the 10/27 close would be the one used at 5pm EST Monday to set up the next trade's parameters.
Again, forgive if annoying...but what am I missing here on the daily close determination?

Thanks.
For trading on Tuesday you have to look at the daily close of Monday not Friday.
  • #188
  • Oct 31, 2006 10:46am Oct 31, 2006 10:46am
Quoting Micardo
Kamanda.... Can I ask a question....

Why do you always go short at 35 and long at 55? What is the reasoning behind that....
....not easy to explain that...got those numbers from historical data(daily candle) , experience & probability.....for the record today is the last trading day for october,and out of 22 days of trading i was able to get 11 days 50pips or more for october!
  • #189
  • Oct 31, 2006 11:04am Oct 31, 2006 11:04am
That sounds excellent... So what did you manage on the other 11 days?

OK I understand about the historical data part.... So just for my info it is always 35 short and 55 long?

Am I correct in saying youv'e been trading this way for 3 years?
  • #190
  • Oct 31, 2006 11:14am Oct 31, 2006 11:14am
... other 11 days? loss,breakeven or less than 50 pips...like yesterday i took only 4 pips and sometimes no trade like 10/03.
  • #191
  • Oct 31, 2006 11:39am Oct 31, 2006 11:39am
Well today the +20/-20 from GMT again did not work very well - in fact like last Fri got whipsawed out of both trades with a 60 pip loss.

However, today I also did +50/-50 from GMT, which is what I think you are doing Micardo, correct me if I'm wrong. With 1.8992 mid closing price at 0GMT the trade was executed at 1.9042 and got me 51 pips. So total for the day is -9.

Micardo could you say what stops you are using. 30 or 50 pips?
thanks max
  • #192
  • Oct 31, 2006 12:00pm Oct 31, 2006 12:00pm
Kamanda..... So what was your total pip profit for the month?

Max... I use a stop loss of 50 pips and a profit target of 30 pips. You managed to get 50+ pips today that is excellent, can I ask you what your exit strategy is?
  • #193
  • Oct 31, 2006 12:31pm Oct 31, 2006 12:31pm
..Micardo...more than 600 pips and the best day was 10/02....if you understand my strategy u'll see that!
  • #194
  • Oct 31, 2006 12:36pm Oct 31, 2006 12:36pm
Thank you Kamanda..... To be totally honest I don't understand your strategy completely but I am Learning :-)
  • #195
  • Oct 31, 2006 12:39pm Oct 31, 2006 12:39pm
Max77,

Have you tried setting you 20 pips entry lines from the London open. Please see attached.

2 trades of 3 lots would have been placed today. 1st trade took profit 1, 14 and profit 2, 30 pips, profit 3 was closed out for breakeven. 2nd trade took three profit levels 14, 30 and 80 pips. Total for the day would have been 168 pips.

See attached

Cheers
Attached Image
  • #196
  • Oct 31, 2006 1:20pm Oct 31, 2006 1:20pm
My 2 cents:

He got stopped out on the short trade and reversed the trade with double lots long. Looks profitable on my chart anyway

FT

Quoting Micardo
Thank you Kamanda..... To be totally honest I don't understand your strategy completely but I am Learning :-)
  • #197
  • Oct 31, 2006 2:35pm Oct 31, 2006 2:35pm
Quoting kamanda
....Parabolic you got it & looks like you understand this strategy very well..just closed my position with 55 pip profit,but the difference is daily close,which broker are you using?
Takes stones to do that kamanda - 55 pip loss then immediately double-up to make 55. How often do u have to do this where u hit your stop and then double up?
  • #198
  • Oct 31, 2006 3:19pm Oct 31, 2006 3:19pm
Quoting PipBird
Takes stones to do that kamanda - 55 pip loss then immediately double-up to make 55. How often do u have to do this where u hit your stop and then double up?
...i know...last time was 10/02 and 10/06
  • #199
  • Oct 31, 2006 3:39pm Oct 31, 2006 3:39pm
Quoting kamanda
...i know...last time was 10/02 and 10/06
kamanda - about 2-3 times a month this happens? I am wondering if u didn't do this double-up and reverse strategy (may be too risky for me) and just took your losses on those days - what do u think this would do to your average monthly pip average?
  • #200
  • Oct 31, 2006 3:47pm Oct 31, 2006 3:47pm
Quoting ikholod
Markj,

Sorry I was away for a few days. I'm attaching the chart from my system with a cross of where I think you placed your trades. My broker uses GMT time and as you can see it looks like the trades were placed at 3:00 GMT. What I don't get is how is that London open? On Friday London opened at 7:00 GMT, now with the time change they went back to 8:00 GMT.

Thanks.
Hi there

Correct. In UK we were on BST (British Summer Time) which meant 08.00am was GMT 07.00

The clocks in UK changed back to GMT Sat 28th -

Hope this helps

Angie
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