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MA Crossover System that works for me

  • #1,321
  • Oct 17, 2023 7:12am Oct 17, 2023 7:12am
Quoting AlistairC
{quote} What just happened . Stopped out very suddenly on this CADJPY trade. Here it is on M15 to show how quickly it happened. And now it's almost back to where it was. Does anyone else have this spike on their charts? It's actually on all of my yen pairs. Some bad news from Japan? {image}
See my previous post on putting a higher SL of minimal 1 x ADR, I am also in the EURJPY as I am convinced it will start going up again, I could have been stopped out various times already, but thanks to my SL far below current price (which I can adapt anytime if I should have the feeling things are turning), my trade just continues while the swap rate keeps giving me daily benefits. I really think SL is much more important than most of us consider
  • #1,322
  • Oct 17, 2023 7:19am Oct 17, 2023 7:19am
Quoting AlistairC
{quote} What just happened . Stopped out very suddenly on this CADJPY trade. Here it is on M15 to show how quickly it happened. And now it's almost back to where it was. Does anyone else have this spike on their charts? It's actually on all of my yen pairs. Some bad news from Japan? {image}
By the way, same thing happened on the Nasdaq
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  • #1,323
  • Oct 17, 2023 11:36am Oct 17, 2023 11:36am
Quoting Uru-trader
{quote} See my previous post on putting a higher SL of minimal 1 x ADR, I am also in the EURJPY as I am convinced it will start going up again, I could have been stopped out various times already, but thanks to my SL far below current price (which I can adapt anytime if I should have the feeling things are turning), my trade just continues while the swap rate keeps giving me daily benefits. I really think SL is much more important than most of us consider
I was thinking along similar lines. On another forum I was part of a long while back one of the respected members commented that after doing some backtesting research he found that price very seldom exceeded the recent swing point (where the SL might be placed) by more than 20 pips on a daily chart. So your post started ringing the same bells.

Just to clarify, when you say SL of minimal 1 x ADR, do you mean the ADR averaged over the default 14 days? So in the image below, which comes from apo on this thread (https://www.forexfactory.com/thread/...9#post14430349), should I use 50.7 or 37.4?
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  • #1,324
  • Oct 17, 2023 11:55am Oct 17, 2023 11:55am
Quoting AlistairC
{quote}Just to clarify, when you say SL of minimal 1 x ADR, do you mean the ADR averaged over the default 14 days?
Assuming it should be the 14-day average value of ADR, this would certainly have saved my CADJPY trade today.
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  • #1,325
  • Oct 17, 2023 1:14pm Oct 17, 2023 1:14pm
Quoting AlistairC
{quote} Assuming it should be the 14-day average value of ADR, this would certainly have saved my CADJPY trade today. {image}
Indeed I use 14 days, today it's 120, for this pair it seems like an absolute minimum to me
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  • #1,326
  • Edited 6:08am Oct 18, 2023 3:05am | Edited 6:08am
This EURCHF trade triggered earlier this morning. I got a signal from the EA and after checking I decided to take it (I find I reject more than I take). One reason I might have rejected this one is that it's close to a long-term low and is at the end of a long trend. So the odds of it going down further are lower than they were when the trend was young. Target is 40 pips, SL, based on Uru-trader's idea of the ARD, is 49.
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  • #1,327
  • Oct 18, 2023 6:14am Oct 18, 2023 6:14am
This is what the full OGT dashboard looks like across 5 TFs (8/21/100 EMAs). I have started using this at least once a day just to get an overview of what the charts look like and to see if there is anything I should go and have a look at.

You will notice that my currency pairs are grouped, which gives me an overview of each of those too. NZD, for example, is obviously bearish, but EUR is all over the place (based on my use of 8/21/100 EMAs).
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  • #1,328
  • Oct 18, 2023 6:44am Oct 18, 2023 6:44am
Quoting AlistairC
This EURCHF trade triggered earlier this morning. I got a signal from the EA and after checking I decided to take it (I find I reject more than I take). One reason I might have rejected this one is that it's close to a long-term low and is at the end of a long trend. So the odds of it going down further are lower than they were when the trend was young. Target is 40 pips, SL, based on Uru-trader's idea of the ARD, is 49. {image} {image}
Target reached. Nice day trade, in and out within a few hours. It helps to have had a small target.
  • #1,329
  • Oct 18, 2023 6:47am Oct 18, 2023 6:47am
Similar to the previous one. This is AUDCHF, also moving nicely. 44 pip target, 50 pip SL based on ADR.
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  • #1,330
  • Oct 18, 2023 11:37pm Oct 18, 2023 11:37pm
Quoting AlistairC
Similar to the previous one. This is AUDCHF, also moving nicely. 44 pip target, 50 pip SL based on ADR. {image}
Target reached overnight
  • #1,331
  • Oct 18, 2023 11:41pm Oct 18, 2023 11:41pm
This is copied from an earlier post. I use it for almost every trade. Very useful to manage lot size.
==========================================================================
I use an App to place trades because it calculates the correct lot size for me automatically. It's better that you download it yourself so that you get the correct files. Place all of those files directly into the MQL4 folder https://www.earnforex.com/metatrader...ick-trade-pro/

This is what it looks like on the charts.
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To open it click on the first image, I think it's a pen. Then you can enter your SL distance manually and it calculates the lot size accordingly. All the other settings need to be entered into the inputs dialog.
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  • #1,332
  • Oct 19, 2023 10:25am Oct 19, 2023 10:25am
Still in the EURJPY long trade, sometimes it helps to look for a broader view and add some technical analysis. The pair has first been ranging between 158,5 and 156,5 with several times being rejected at both levels, then you see this triangle with higher lows but upside limited to 158,5, a 'bullish triangle imho, so 'technically' the pair is bound to one moment break out of the triangle, most likely upwards in the direction of 160 and if it breaks that to 170. Could today be the break?
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  • #1,333
  • Oct 19, 2023 11:59pm Oct 19, 2023 11:59pm
Quoting Uru-trader
Still in the EURJPY long trade, sometimes it helps to look for a broader view
To get a broader view I look at the weekly and monthly charts. The monthly shows me an overbought situation, so based on that I would be cautious of buying from here. The weekly, however, shows consolidation that could easily break out in the direction of the dominant trend (that's what the theory says about breakouts), but that overbought condition, hmm ... But just a small move on MN1 could be 500 pips, so on H4 maybe there's still plenty of room to the upside.
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  • #1,334
  • Oct 20, 2023 12:31am Oct 20, 2023 12:31am
I didn't have a great day yesterday. Altogether I placed 5 trades and all of them promptly went the wrong way, some by quite a lot. One got stopped out, even with using the ADR value for the SL, but the others turned and are now moving in my direction. One of those reached its target during the night, so that makes things better!

Strange how some days are so different from other days.
  • #1,335
  • Oct 23, 2023 2:48am Oct 23, 2023 2:48am
This USDCAD trade just triggered.
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  • #1,336
  • Oct 23, 2023 8:39am Oct 23, 2023 8:39am
Quoting Uru-trader
Still in the EURJPY long trade, sometimes it helps to look for a broader view and add some technical analysis. The pair has first been ranging between 158,5 and 156,5 with several times being rejected at both levels, then you see this triangle with higher lows but upside limited to 158,5, a 'bullish triangle imho, so 'technically' the pair is bound to one moment break out of the triangle, most likely upwards in the direction of 160 and if it breaks that to 170. Could today be the break? {image}
Clearly broken out now, getting close to target again - unless BOJ intervenes because of USDJPY reaching 150 ...
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  • #1,337
  • Oct 23, 2023 12:08pm Oct 23, 2023 12:08pm
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entry..... 2 lots.... TP i achrived, booked profit of 1 lot.... now trailing SL for second lot.
TF H4. trading as per rules of the thread.

no risk trade...
  • #1,338
  • Oct 23, 2023 12:47pm Oct 23, 2023 12:47pm
Quoting walvekarraje
{image} {image} entry..... 2 lots.... TP i achrived, booked profit of 1 lot.... now trailing SL for second lot. TF H4. trading as per rules of the thread. no risk trade...
Very nice breakout trade.
  • #1,339
  • Edited 8:49pm Oct 23, 2023 12:48pm | Edited 8:49pm
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will target TP3 ..... at the same time, will trail SL
  • #1,340
  • Oct 23, 2023 8:57pm Oct 23, 2023 8:57pm
Quoting walvekarraje
{image} will target TP3 ..... at the same time, will trail SL
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SL to previous candle low..

time to look for new trade.
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