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Great GBP/USD Strategy for Swing Trades

  • #521
  • Apr 26, 2007 8:03am Apr 26, 2007 8:03am
...signal on the horizon, albeit a few 4hr periods away..
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  • #522
  • Apr 26, 2007 11:07am Apr 26, 2007 11:07am
...well i'm in from 119.27 but wary of the daily resistance around 119.85
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  • #523
  • Apr 26, 2007 1:04pm Apr 26, 2007 1:04pm
Hi ChowClown.

Just got in.Saw your posts. My Aussie trade hit trailing stop for 24 pip gain. Not bad for a couple of hours. I wasn't too keen to leave the stop loss at 50 because of the recent overwhelming US$ bearishness, so I opted for the trail. For all you know,this might just be temporary pullback for this pair before the greenback bear continues.
I saw the GBPUSD setting up nicely. CHECK OUT THE CHART BELOW...it's nearly there.I like this one more than the Aussie earlier because of the angle at which the 13 is going to hit the 50. Let's wait with our finger on the trigger...

PS You ought to think of using MT4.That's what I'm doing,even though I use another broker for live trades.Your charting system might be lagging a little.I noticed that Interbank,although they also use MT4, lag behind MetaTrader's (MIG Investments) MT4 platform,i.e. a new candle is forming by MIG while Interbank's is still busy closing the previous candle!Go figure.
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  • #524
  • Apr 26, 2007 1:36pm Apr 26, 2007 1:36pm
Doji Star,

Beware of major support at 9879/9875 as both a Monthly and Weekly pivot point are lurking there.
I seek not to know all the answers but to understand the questions.
  • #525
  • Apr 26, 2007 3:28pm Apr 26, 2007 3:28pm
Hello there,
Im in on GBP/USD @ 1.9910. MA13 just starting to cross MA50. Only trading small amount.

Happy Day

TORAG
  • #526
  • Apr 26, 2007 4:13pm Apr 26, 2007 4:13pm
Quoting mattfx
Here it is, re-calculated assuming every loss went to the maximum of 50 pips, basically the profit has halved, and the drawdown has now increased to about 37%, so it looks as though you need manual intervention. Bearing in mind the exits for profit also need to be performed manually. So one still needs to lend a "hand" to maximise this system.
Your comments appreciated.
It appears you have a data error that results in a false jump in equity:

42 14/11/2006 S 1.8957 1.8943 12 0.24 1.68% " $44,051.95 " " $50,091.46 " -12.06%

43 22/11/2006 L 0.8092 1.9730 746 14.92 104.44% " $90,059.80 " " $90,059.80 " 0.00%

I wish I could have bought cable at aussie rates, too.
  • #527
  • Edited 5:01pm Apr 26, 2007 4:57pm | Edited 5:01pm
Thanks for pointing that out, that should be a long from 1.8998 to 1.9730 a 732 pip move
Without women, money would have no meaning - Aristotle Onassis
  • #528
  • Apr 26, 2007 6:04pm Apr 26, 2007 6:04pm
Dear all traders,

I have opened short cable @ 1.9914 3 hours ago on the swing setup.
Let's hope this will work out good.

VyNNeR
  • #529
  • Apr 26, 2007 6:37pm Apr 26, 2007 6:37pm
In as well at 9903.
  • #530
  • Apr 26, 2007 6:45pm Apr 26, 2007 6:45pm
2nd signal of the month.

Shorting 1.9907

Hope this one goes!
  • #531
  • Apr 26, 2007 7:24pm Apr 26, 2007 7:24pm
Are you guys entering at the open of the candle AFTER 13ma cross or as soon as it crosses?

Thanks
  • #532
  • Apr 26, 2007 8:30pm Apr 26, 2007 8:30pm
Quoting JoshDance
As Rob (blueruby) did such a fantastic job on his indicator v1.2, I decided to add to it (actually, I rewrote about 95% of it, but he laid the foundation) and create an arrow indicator system based on the rules that VyNNer has laid out. I've attached the source. You know what to do with it. Looks like there are some fantastic trades that have been available!

Couple of notes:

This has NOT been tested live, as I just started this yesterday and have not got into trading tonight at all, so please look for bugs!! Again, the goal is to have a popup appear when a new bar forms, but as the market's only been open a few hours, I have not tested it yet to see if that happens, as no trade opportunities are available now. As always, PLEASE use common sense and do not blindly follow the arrows! While I was once a professional software developer, this is my first MQL code, and the first code I've written in about 6 months, so just keep your eyes peeled! :-)

This indicator will display long, short, and exit arrows (the red 'x'), and will email you notification, show a popup on the screen, play a sound, and even call your mother and leave her a computer generated voicemail letting her know that you've made the big bucks on this trade (okay...maybe not the last one hehehe).

I have included an option to turn on/off the daily stochastic filter (it's off by default). If you put this on the g/u 4hr chart, you'll see very few losing trades compared to big winners with the stoch off.

EDIT: small update about 10 mins after I posted this to shut the indicator up the first time you load it (if you're switching profiles from one to this and have 15 charts open, you would have gotten a lot of email/console spam).
Hi JoseDance,

Notice there are no signal for the latest Cable cross,
are there some filters?
I'm just moving clouds today - tomorrow I'll try mountains.
  • #533
  • Apr 26, 2007 9:06pm Apr 26, 2007 9:06pm
Dear Guys & Gals,

I hate to be the bearer of bad news, however ya'll may be a goin' nowhere fast 'till about 7:35 am EST tomorrow when the GDP Deflator report is due out.

Until then, I'll keep a roastin' half a longhorn steer over a open pit while enjoyin' another cup of "Texas Tea".
(he! he! he!)
Robert DeCuir
  • #534
  • Apr 27, 2007 2:50am Apr 27, 2007 2:50am
Quoting Lamdun
Are you guys entering at the open of the candle AFTER 13ma cross or as soon as it crosses?

Thanks
I enter at the open of the candle after the 13/50ema cross. I'm short GBP/USD from 1.9912, similar entry price to VyNNer who i think usually enters as soon as the 13 crosses the 50. Looks like I was lucky with +ve slippage this time.
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  • #535
  • Apr 27, 2007 3:13am Apr 27, 2007 3:13am
...not convinced 50 pip SL will be enough to keep us in, given the daily trendline bounce, but you never know..
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  • #536
  • Apr 27, 2007 5:19am Apr 27, 2007 5:19am
hope yall set your limits because there were too many signs telling us that it was going to bounce back up.


And plus the trend is up.


But we'll be getting a buy signal soon, that should be more promising
  • #537
  • Apr 27, 2007 5:22am Apr 27, 2007 5:22am
...was always looking likely, given daily trendline support, but a system's a system. Discretionary trading hasn't been successful for me in the past, but then i've much still to learn.
  • #538
  • Apr 27, 2007 7:02am Apr 27, 2007 7:02am
Quoting Doji Star
Hi ChowClown.

Just got in.Saw your posts. My Aussie trade hit trailing stop for 24 pip gain. Not bad for a couple of hours. I wasn't too keen to leave the stop loss at 50 because of the recent overwhelming US$ bearishness, so I opted for the trail. For all you know,this might just be temporary pullback for this pair before the greenback bear continues.
I saw the GBPUSD setting up nicely. CHECK OUT THE CHART BELOW...it's nearly there.I like this one more than the Aussie earlier because of the angle at which the 13 is going to hit the 50. Let's wait with our finger on the trigger...

PS You ought to think of using MT4.That's what I'm doing,even though I use another broker for live trades.Your charting system might be lagging a little.I noticed that Interbank,although they also use MT4, lag behind MetaTrader's (MIG Investments) MT4 platform,i.e. a new candle is forming by MIG while Interbank's is still busy closing the previous candle!Go figure.
Thanks for the MT4 heads-up. I auto-trade with an API to FXCM and keep an eye on trades with FXCM's ChartStation. The trade signals and triggers I use aren't derived from ChartStation itself.
  • #539
  • Apr 27, 2007 7:22am Apr 27, 2007 7:22am
I have just entered long on GBP/USD @ 1.9946 after a disappointing short trade a few hours ago.
I hope this does better, not minding the in-coming GDP.
Happy pipping!
Eyes For Pips!
  • #540
  • Apr 27, 2007 7:47am Apr 27, 2007 7:47am
Quoting Ecogates
I have just entered long on GBP/USD @ 1.9946 after a disappointing short trade a few hours ago.
I hope this does better, not minding the in-coming GDP.
Happy pipping!
Ecogates

As far as I can see the daily stoch filter is still short hence a no trade according to the original rules.

Are you trading the original version of this system or a variation disregarding the daily stoch filter?

Tiger2
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