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Simple Daily System

  • #61
  • Jul 26, 2007 3:09am Jul 26, 2007 3:09am
Quoting pintto
oh I agree 100% simple is best, its always when you go crazy things get messed up. On the other pairs U trade do you always use the same 00:00GMT even for like US/Cad pairs or would you use 00:00 on the originating pair.
For now i stick only to 3 pairs: GBP/USD, GBP/JPY and EUR/JPY. I always use the daily candle opening time and it's 00:00 GMT for me. If I would like to test other pairs and follow the rules of this system I should use the same time 00:00 GMT for any pairs.
  • #62
  • Jul 26, 2007 3:18am Jul 26, 2007 3:18am
Short GBP/JPY with the opening of daily candle at 247.45; SL 248.34; TP1 (30pips) at 245.15 hit, 1 lot closed and SL of 2nd moved to B/E. 2nd lot still in play and currently + 60 pips (246.85).
  • #63
  • Jul 26, 2007 5:00am Jul 26, 2007 5:00am
Closed GBP/JPY for total 130 pips profit. No opened trades for today.

Today profit: +130 pips
Total profit (since 19 July): +330 pips

Regards.
.
  • #64
  • Jul 26, 2007 5:31am Jul 26, 2007 5:31am
Quoting TheThing
Short GBP/JPY with the opening of daily candle at 247.45; SL 248.34; TP1 (30pips) at 245.15 hit, 1 lot closed and SL of 2nd moved to B/E. 2nd lot still in play and currently + 60 pips (246.85).

I only count 2 prior candles meaning today is the 3rd in the ruleset. Looks like you posted your closing message 28 minutes ago and I dont see a new candle popping up anything soon. I think I am setup the wrong way. I am looking at the MT4 spot trader demo info. I am new to looking at this software so maybe I have done something wrong here.
  • #65
  • Jul 26, 2007 6:08am Jul 26, 2007 6:08am
Quoting pintto
I only count 2 prior candles meaning today is the 3rd in the ruleset. Looks like you posted your closing message 28 minutes ago and I dont see a new candle popping up anything soon. I think I am setup the wrong way. I am looking at the MT4 spot trader demo info. I am new to looking at this software so maybe I have done something wrong here.
I think it depends where you started to count daily candles. Look at the chart
Attached Image
  • #66
  • Jul 26, 2007 6:19am Jul 26, 2007 6:19am
This is what I am showing right now and how do we have different data for the 23rd? I dont mean to be rude or mean I just want to fully understand the system as I love the results you are getting.
Attached Image (click to enlarge)
Click to Enlarge Name: rightnow.jpg Size: 73 KB
  • #67
  • Jul 26, 2007 6:31am Jul 26, 2007 6:31am
Quoting pintto
This is what I am showing right now and how do we have different data for the 23rd? I dont mean to be rude or mean I just want to fully understand the system as I love the results you are getting.
Hmm..interesting..I just checked IBFX and it showing the same chart I posted above with NorthFinance..You have a bullish bar on 23 of July..but i have a bearish..weird..
  • #68
  • Jul 26, 2007 6:39am Jul 26, 2007 6:39am
Quoting TheThing
Hmm..interesting..I just checked IBFX and it showing the same chart I posted above with NorthFinance..You have a bullish bar on 23 of July..but i have a bearish..weird..
I pulled a chart on the fxcm FX+ page which I believe comes from netdania and i get same thing, bull on the 23rd. Looking at yahoo chart the exact o/c are a tiny different than what I show but same overall result bull on the 23. I am so confused now lol. Am trying to lookup your source to see if i can figure out whats going on.

Anyone else have any clue or how to sync the info?
  • #69
  • Jul 26, 2007 6:53am Jul 26, 2007 6:53am
Quoting pintto
Anyone else have any clue or how to sync the info?
I think there is no way to sync the data different brokers providing us
As a result we'll have different entries and different gains and losses..
  • #70
  • Jul 26, 2007 7:05am Jul 26, 2007 7:05am
OH wait I think its getting messed up because of the sunday candles. Look at the difference on my chart for the weekend and your chart for the weekend how they are a bit different. I bet that has somethign to do with where lines are getting drawn at etc. Thats the first divergence in charts as they were exactly the same before that.
  • #71
  • Jul 26, 2007 7:49am Jul 26, 2007 7:49am
looks like the eur/jpy had a setup and hit also. How does this match up againts your chart?
Attached Image (click to enlarge)
Click to Enlarge Name: setup.jpg Size: 81 KB
  • #72
  • Jul 26, 2007 7:56am Jul 26, 2007 7:56am
Quoting pintto
OH wait I think its getting messed up because of the sunday candles. Look at the difference on my chart for the weekend and your chart for the weekend how they are a bit different. I bet that has somethign to do with where lines are getting drawn at etc. Thats the first divergence in charts as they were exactly the same before that.
i don't thinnk the sunday candle has any bearing on the bars. i trade off a ibfx platform that is different from the thing's. mine shows only 7 red bars including the sunday bars. thing is right you cannot base your entry off of his times. to even get the same open as thing i have to watch for the open at 2100 gmt.
  • #73
  • Jul 26, 2007 9:09am Jul 26, 2007 9:09am
Quoting gnspdr33
i don't thinnk the sunday candle has any bearing on the bars. i trade off a ibfx platform that is different from the thing's. mine shows only 7 red bars including the sunday bars. thing is right you cannot base your entry off of his times. to even get the same open as thing i have to watch for the open at 2100 gmt.

Well correct me if I am wrong no matter where you live 00:00gmt is the same everywhere. If he says he opens at 00:00gmt it should be the same. All the other zones are either + or - of that threw conversion. Change local time but everyone should have the same 00:00gmt. The charts may be drawn a bit different depending on when the charting software starts the day but the entry should always be 00:00gmt according to the rules right? I was trying to figuare out when his software starts the day vs the one I am using. I am new so maybe I am completely messing something up here and I do appoligize if I am. It just may change the results by using different data that isnt giving the same info. Whats the point of using a system that has a great record if you dont have the same tools to tell you directions etc.
  • #74
  • Jul 26, 2007 1:11pm Jul 26, 2007 1:11pm
Quoting pintto
looks like the eur/jpy had a setup and hit also. How does this match up againts your chart?
Yes, eur/jpy has a setup today but i took a trade yesterday so i have to wait at least 2 full days to enter the market with this pair according to the rules of this system. If you didn't make it yesterday due to differnt counting of daily candles you could entered today. Well a nice move of 200 pips should be yours
  • #75
  • Jul 26, 2007 1:16pm Jul 26, 2007 1:16pm
Quoting pintto
Well correct me if I am wrong no matter where you live 00:00gmt is the same everywhere. If he says he opens at 00:00gmt it should be the same. All the other zones are either + or - of that threw conversion. Change local time but everyone should have the same 00:00gmt. The charts may be drawn a bit different depending on when the charting software starts the day but the entry should always be 00:00gmt according to the rules right? I was trying to figuare out when his software starts the day vs the one I am using. I am new so maybe I am completely messing something up here and I do appoligize if I am. It just may change the results by using different data that isnt giving the same info. Whats the point of using a system that has a great record if you dont have the same tools to tell you directions etc.
Could you tell your local time and time of your broker? 'cause my time and time of my broker is the same and it's GMT+2 so i have never experienced any problems for adjusting time to trade.
If you want to figure out this difference maybe a good idea is to post a chart so we can follow each other and get a solution. I'll post a chart too if it's needed.

Regards.
  • #76
  • Jul 26, 2007 1:47pm Jul 26, 2007 1:47pm
I am EST and my broker is based out of NY, I use FXCM. I just talked with them and he told me ALL charts should start new candles at the same time, 5pm ends one day and 5:01pm starts the new chart since this is the international settlement time. This is supported by us both having nearly the same lines on every other day except the weekend and the 23rd. He said there can be major differences in pips though based off the relationship the broker has with the market maker but I dont understand how how one is bullish and the other is bearish lol. Does this sound correct according to everyones understanding or did this guy not understand the question either?
  • #77
  • Jul 26, 2007 2:17pm Jul 26, 2007 2:17pm
This issue has been discussed at length in the Fozzy Forum, and yes, there can be different times for the beginning of a new Daily candle depending on when the broker begins and ends the trading day.

I suggest spending a few minutes reading the posts in this thread; it should make the situation clear and help with choosing a broker based on the Daily candle start time.

Enjoy:

http://www.forexfactory.com/showthread.php?t=5293
  • #78
  • Jul 26, 2007 2:27pm Jul 26, 2007 2:27pm
Quoting BeachBum
This issue has been discussed at length in the Fozzy Forum, and yes, there can be different times for the beginning of a new Daily candle depending on when the broker begins and ends the trading day.

I suggest spending a few minutes reading the posts in this thread; it should make the situation clear and help with choosing a broker based on the Daily candle start time.

Enjoy:

http://www.forexfactory.com/showthread.php?t=5293
Thank you BB, hope this will clarify time differences and broker issues
  • #79
  • Jul 28, 2007 12:36pm Jul 28, 2007 12:36pm
Hello Thing, sorry for my bad English, is not also my native language. still on Monday with gb/us (3staebe) enter? does not have the latter meet times with 2staebe easily also badly.

my results:
papertrading
24.07 cad/yen sell +60
aud/ nz sell +50
eur/eyn sell +50
usd/yen sell +50

livetrading
gb/usd buy +30

25.07 papertrading
eur/cad sell +60
aud/yen sell +60

livetrading
us/cad sell -34

26.07 papertrading
eur/cad sell +20

27.07 papertrading
nz/us sell +130
aud/nz buy +30
us/cad buy +60
chf/yen sell +50
eur/yen sell +90

livetrading
gb/usd sell +130
gb/yen +130

a positive week,da I the system also live trade(0,1lot).das largest potential has believes I all Yen yen-pairs.entry with third candle is believes I better each case with gb/usd.
we will see.
many blip this week,kittiman
  • #80
  • Jul 28, 2007 1:53pm Jul 28, 2007 1:53pm
Hi kittiman
What SL are you using?
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