DislikedI am all for indicators, etc. but they WILL NEVER replace ALL of us looking with human eyes and minds at these SIMPLE setups. YIKES GUYS!! It takes three full daily candles for a trade to EVEN BEGIN to qualify for a 4th day opening candle trade! In other words, we have plenty of time to fully consider:
1.) Any BIG economic/world news that might effect the trade on the 4th day
2.) We will be able to establish if we like the EMA-20 and EMA-50 trend
3.) We will be able to make a good estimation of the recent price activity (from surrounding daily bar characteristics)
4.) Most importantly . . . We have ample time during Day-3 to discuss AT LENGTH what we think the most appropriate SL and TP might be for the pair(s) in question.
5.) We can call off any Day-4 trades if Day-3 candle shows poor signs or goes against us! (another SIMPLE quality - trading a much longer time-frame!)
THE NUMBER ONE thing we can ALL do for success with "SIMPLE" is to get on the same page in terms of what our charts are seeing . . . seeing the same data is gonna be essential. And, right now, I do not think we are ALL on the same page in terms of time and charts!!!!!!!
And no, I do not care which data feed or broker we use!! Several of us have been using a NorthFinance.com demo account. It comes with MT4 charting and never expires. We are using their data feed for daily setups . . . their daily candle opens at +2 GMT. For me, this translates to a daily opening bar at 2:00PM Pacific Standard Time (PST)
Oh well, that is what I am gonna start doing. And it is only my opinion of what we could do together. So hopefuly, we can pull together here for mutual fun and tremendous profit! Cuz, SIMPLE does work very, very well and it does not need a ton-of-indicators!
Regards, KIgnored
- #362
- Aug 12, 2007 12:42pm Aug 12, 2007 12:42pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Did you forget my irrelevant post that showed different TPs and SLs......even though the backtester is flawed
Same Whore .... Different Dress
- #364
- Aug 12, 2007 1:34pm Aug 12, 2007 1:34pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Hey Kev-K,
I'll join your forward test from this Monday and will be watching GBP/USD, AUD/USD, EUR/JPY and USD/JPY with the same broker (NF). We can share our ideas as well as SL and TP levels in the process of testing.
Best regards,
TheThing
I will start Monday with Oanda forward testiing.
Same Whore .... Different Dress
- #366
- Aug 12, 2007 4:34pm Aug 12, 2007 4:34pm
God.. What are you on man?
EDIT: YOU CAN'T GET TP AND SL LEVELS BY EXPERIMENTING WITH ANOTHER SYSTEM. GODDAMN MAN!!!
Just do what you think is right, 'cause everyone is different and human being is not a mechanical system so everyone thinks in a different way and he/she has the right for it.
Personally I'm not making any backtests with the Indy's tool for now because I get quite different results with my own manual testing.
Kind regards,
TheThing
Boys and girls! PLEASE STOP ARGY-BARGY here!
Just do what you think is right, 'cause everyone is different and human being is not a mechanical system so everyone thinks in a different way and he/she has the right for it.
Personally I'm not making any backtests with the Indy's tool for now because I get quite different results with my own manual testing.
Kind regards,
TheThing
- #368
- Aug 12, 2007 4:39pm Aug 12, 2007 4:39pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Same Whore .... Different Dress
- #370
- Aug 12, 2007 4:54pm Aug 12, 2007 4:54pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
No problem.....will be busy now looking forward instead of backwards.......
It may several days befor anything comes together, given the last two weeks of irregular market conditions. will wait and see.........
It may several days befor anything comes together, given the last two weeks of irregular market conditions. will wait and see.........
Same Whore .... Different Dress
- #376
- Edited 11:25pm Aug 12, 2007 10:51pm | Edited 11:25pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Same Whore .... Different Dress
- #377
- Aug 13, 2007 2:48am Aug 13, 2007 2:48am
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
Hi TheThing,
thanks for this simple and great system!
@Indycash: Thanks for your backtesting tool, but it's still buggy:
09/14/06 Buy Signal
09/15/06 Entry at: 1.8863 - TP1 at: 1.8893 - TP2 at: 1.8963 - SL at: 1.8773
09/15/06 SL triggered at 1.8773 -180 pips 15:30:00gmt
The Buy Signal should be on 09/14/06 Open and the entry as well. I guess I have to disable the "Wait 1 day after setup for entry?" option which isn't possible yet?
Regards - Xaron
thanks for this simple and great system!
@Indycash: Thanks for your backtesting tool, but it's still buggy:
09/14/06 Buy Signal
09/15/06 Entry at: 1.8863 - TP1 at: 1.8893 - TP2 at: 1.8963 - SL at: 1.8773
09/15/06 SL triggered at 1.8773 -180 pips 15:30:00gmt
The Buy Signal should be on 09/14/06 Open and the entry as well. I guess I have to disable the "Wait 1 day after setup for entry?" option which isn't possible yet?
Regards - Xaron
- #378
- Aug 13, 2007 3:38am Aug 13, 2007 3:38am
Hi TheThing,
thanks for this simple and great system!
@Indycash: Thanks for your backtesting tool, but it's still buggy:
09/14/06 Buy Signal
09/15/06 Entry at: 1.8863 - TP1 at: 1.8893 - TP2 at: 1.8963 - SL at: 1.8773
09/15/06 SL triggered at 1.8773 -180 pips 15:30:00gmt
The Buy Signal should be on 09/14/06 Open and the entry as well. I guess I have to disable the "Wait 1 day after setup for entry?" option which isn't possible yet?
Regards - Xaron
Yes, buy signal GBP/USD and entry should be on 14th of September not 15th. There is no way to wait 24 hours after 3 candles formation, we have to enter as early as possible to catch that movement.
I think Indy will fix it. Actually the option for waiting 24 hours is not needed because it's against the rules.
Kind regards,
TheThing
