BatFink Daily Range trades

We are pretty much closed out for the day. Although I was still in a trade for one pair I have closed this in profit as the market seems to have finalised for today (Friday).

GBP/USD
Enter sell trades only. Awaiting sell confirmation signal, enter today only on or after London open candle (8GMT)
Buy 2 lots 1.9658
set stop loss at 1.9628
Take profit one 1.9673 move stoploss to 25
Close second lot if price reaches 1.9718

We had two trades here. The first we entered at 9GMT and the second we entered at 2GMT.

Results = Trade 1 (15 + -10) + (15 + 60) = 80

GBP/CHF
Enter buy trades only
No Trade were taken on this pair

GBP/JPY
News releases effecting this pair so awaited until this had come through until set trades.
Enter buy trades only
Buy 2 lots 231.47
set stop loss at 231.01
Take profit one 231.61 move stoploss to 25
Close second lot if price reaches 232.06

We entered two orders. As above we did not enter with the news releases. First order was taken 7GMT and second order was taken at 1GMT.

Results = Trade 1 = (15 + -10) + (15 + 7) = 27

USD/JPY
News releases effecting this pair so awaited until this had come through until set trades.
Enter buy trades only
Buy 2 lots 118.02
set stop loss at 117.72
Take profit one 118.17 move stoploss to 25
Close second lot if price reaches 118.62

We entered two orders. As above we did not enter with the news releases. First order was taken 9GMT and second order was taken at 5pmGMT.

Although still trading I am going to close trade on second lot of second trade for 10 pips as there does not seem to be much more movement in the market today.

Results = Trade 1 (15 + 5) + (15 + 10) = 50

USD/CHF
Enter buy trades only
Buy 2 lots 1.2174
set stop loss at 1.2144
Take profit one 1.2189 move stoploss to 25
Close second lot if price reaches 1.2234

Two trades were place, 1st at 9GMT and second at 2GMT. Second trade was closed on trailing stop with second lot.

Results = Trades (15 + -10) + (15 + 26) = 46

Total for the day = 203

I think there might be a mistake here. If it is a short trade. The number are off. Buy 1.9658, Stop loss 1.9628. That would be a long trade.

I don't know I am confused.

Have a good weekend

Cipher,

You are absolutley correct. I forgot to change details for entry of GBP from previous day.

Attached is the chart with Entries. If anyone is following this please make sure you have the correct indicators on and check details against them.

Home Line is 00:00 GMT open, Entry lines are 40 pips from home line above and below.

Please pull me up if any details are incorrect as I am loading these positions in late at night and sometimes rush them.

Thanks Cipher.

Hi Mark,

I have been going through your system and backtesting the 3 pairs, GBPUSD, USDCHF, GBPCHF.

My first question was why you didn't take the GBPCHF trade on DEC 15.?
What filter made it a No Trade? My charts seem to show some different numbers. I don't understand because all my other indicators match up with yours (except for the target dots, haven't fixed those yet). I hope my GBPCHF chart is not off, that means I would have to go back and fix some of the data.

http://i87.photobucket.com/albums/k1...whyNoTrade.jpg

So far I have the month of November testing complete. At first I didn't like the Daily High-Low filter because it kept me out of trades, on one trade, target 4 was hit. As I moved further back in the month the Daily High Low filter saved me from a nasty trade that would have resulted in -90 Pips with 2 lots on. So cheers to the High Low filter.

My second question: I was wondering how and if you use the Monthly High Low filter?

In three weeks the profit was rather consistent except on the fourth week from 11/24/06 - 11/20/06 profit was reduced by 85%. With the position sizing that I use the system usually make $1500 a week, but this week was reduced to $250. How common are these slow weeks? I am going to continue my testing, just wanted to ask to make sure that %85 decrease in profits does happen and I am not just messing up the testing process.

Also, If the LSMA is showing a down/bearish trend, you will not trade against that trend. Am I correct?

Do you have a procedure for or a chart for efficently back testing this system? I ask because you previously mentioned some stats regarding certain ranges only being hit 50% and others being hit 25%. I was just wondering how you best record this data.

Last question, I noticed your first document said to place a 30 pip trailing stop after price reached TARGET 2. But I noticed in some of your journal entries that you place a 25 PIP trailing stop once price reaches TARGET 2. Am I correct in seeing this?

Sorry to ask so many questions, I hope they are all good ones and that they help other individuals in understanding your system.

Thanks for the chart above.

My first question was why you didn't take the GBPCHF trade on DEC 15.?
What filter made it a No Trade?

Yes I filtered out trading this pair based on previous monthly high and that this high was at highs not seen since 2000. Best to stay out until it breaks or rebounds of the high.

My charts seem to show some different numbers. I don't understand because all my other indicators match up with yours (except for the target dots, haven't fixed those yet).

As below you seem to have the indicator set to the 00:00 close not the open.

I hope my GBPCHF chart is not off, that means I would have to go back and fix some of the data.

This chart is off by one hour. It looks like you have the home line set to the 00:00 close not the open. I the chart shown there should be 11 bars until price hits buy entry line.



http://i87.photobucket.com/albums/k1...whyNoTrade.jpg

So far I have the month of November testing complete. At first I didn't like the Daily High-Low filter because it kept me out of trades, on one trade, target 4 was hit. As I moved further back in the month the Daily High Low filter saved me from a nasty trade that would have resulted in -90 Pips with 2 lots on. So cheers to the High Low filter.

You will miss good trades with this filter but I think it's a valid filter.

My second question: I was wondering how and if you use the Monthly High Low filter?

As above. I do use it especially if it is a strong high like the GBP/CHF.

In three weeks the profit was rather consistent except on the fourth week from 11/24/06 - 11/20/06 profit was reduced by 85%. With the position sizing that I use the system usually make $1500 a week, but this week was reduced to $250. How common are these slow weeks? I am going to continue my testing, just wanted to ask to make sure that %85 decrease in profits does happen and I am not just messing up the testing process.

Yes there will be bad weeks. Best to average over a month period. Looking at the GBP/USD for this week we had a bad trade day, 2 no trade days and 2 good trade days.

Also, If the LSMA is showing a down/bearish trend, you will not trade against that trend. Am I correct?

I do use the LSMA but more for confirmation rather than direction. I will not trade against the 100 period market direction.

Do you have a procedure for or a chart for efficently back testing this system? I ask because you previously mentioned some stats regarding certain ranges only being hit 50% and others being hit 25%. I was just wondering how you best record this data.

Manual backtesting. But you can run any EA on visual, pause it then add the indicators, slow down the time and then record this way.

Last question, I noticed your first document said to place a 30 pip trailing stop after price reached TARGET 2. But I noticed in some of your journal entries that you place a 25 PIP trailing stop once price reaches TARGET 2. Am I correct in seeing this?

I have change this for the journal only at this point. This is to limit loss amounts and move 2 lot into breakeven quicker.

Sorry to ask so many questions, I hope they are all good ones and that they help other individuals in understanding your system.

No problems happy to answer.

I have also organised a spread sheet that I will use when posting my positions. This will limit any mistakes made.

Cipher,

Recant that last setting for your chart. Just checking again and you chart looks good. I quickly through this up on a demo account that I have and forgot they are 1hr difference. Check this time with all you charts making sure that the home line is 00:00 open and not close.

If orders are closed. The re-enter at original buy price of 1.9715 providing price falls below 1.9705. and is not on the same candle as order closed.

http://i87.photobucket.com/albums/k1...uestion111.jpg

According to the PDF price must fall below Stop Loss B (SLB - dotted red line) and not be on the same candle as order closed to RE-ENTER a trade.

#1 = Enter
#2 = Close
#3 = No Re-Entry because price did not go below SLB
#4 = #3

Is this correct?

I just wanted to confirm because while I was testing today I forgot this rule and two weeks data turned out with major losses. So I wondered what I did wrong.

I also notice in your new Journal you don't trade GBP/USD, USD/CHF, or GBP/CHF before 8:00 GMT. Is this a rule to limit the whipsaw that you often get around the Japan session?


Thanks

If orders are closed. The re-enter at original buy price of 1.9715 providing price falls below 1.9705. and is not on the same candle as order closed.

Yes it has to be the following candle. The logic behind this is that the candle can move to the stoploss B area, retrace backup then close below the stoploss area B. The next candle should give us some confirmation were price is heading before we re-enter.

According to the PDF price must fall below Stop Loss B (SLB - dotted red line) and not be on the same candle as order closed to RE-ENTER a trade.

#1 = Enter
#2 = Close
#3 = No Re-Entry because price did not go below SLB
#4 = #3

Is this correct?

Yes.

I just wanted to confirm because while I was testing today I forgot this rule and two weeks data turned out with major losses. So I wondered what I did wrong.

Can you detail this some more?

I also notice in your new Journal you don't trade GBP/USD, USD/CHF, or GBP/CHF before 8:00 GMT. Is this a rule to limit the whipsaw that you often get around the Japan session?

This is not a rule and is very much descretionary. As with Friday there was news around the Toko open so I left the JPY pairs to trade London open only. With the other pairs, there was no clear directioin in which way they were heading. The 100 period filter was showing neutral at 00:00 and looked like a change in sentiment to the downside. We need to await confirmation of this to trade. As you could see on Friday the market did switch and we had a down trade that was then retraced upwards but then returned to down side.

So to summarize: If the 100 period is in neutral territory, meaning it is looking for a possible change of 100 period direction then we need to await confirmation. As with the trend indicator this is set to the 100 period.

Markj,

I appreciated your sharing of the system and I really want try, but have some issues to prevent me from doing so, yet .

1. Spread - I know you mentioned you ignored the spread but the some of the pairs you are trading are huge (10 PIPs). So, the results you show may be much less than what you are displaying. It may not be a factor if the gain is huge but still an issue.

2. Time needed to watch the market. - It seems to me that you have to watch the market from GMT 0:00 to 8,10, 15 or more to open, close the order. I could watch the market for maybe 8 hours but can't do it more than that. And I live in Dallas and the GMT 0 begins at 6pm. and London market opens at 2am. So, how many hours do you watch the hours to trade this method? Any advise?

Again, I appreciate all your effort and know that I really want to trade this system.

AndyL

I appreciated your sharing of the system and I really want try, but have some issues to prevent me from doing so, yet .

1. Spread - I know you mentioned you ignored the spread but the some of the pairs you are trading are huge (10 PIPs). So, the results you show may be much less than what you are displaying. It may not be a factor if the gain is huge but still an issue.

Spread is going to be an issue with any intraday system. True the results will be less with spread. I am not registering spread as these will vary prom broker to broker, trader to trader. 5 pips spread? ok with long term system but intraday you need to have a lower spread. A lot of thes trades are in before news releases so you should be able to get 2 pips spread on most trades.

2. Time needed to watch the market. - It seems to me that you have to watch the market from GMT 0:00 to 8,10, 15 or more to open, close the order. I could watch the market for maybe 8 hours but can't do it more than that. And I live in Dallas and the GMT 0 begins at 6pm. and London market opens at 2am. So, how many hours do you watch the hours to trade this method? Any advise?

Yes this is a downfall. I am awake 2 hours after London open, so I always have set the first order at night with a trailing stop. Most of the time your first trade will enter when the europe or London session (except possibly USD/JPY). Most of the time if we have a re-entry trade it happens at or after London lunch, NY open. So if we break this down you can set one pending order for the first entry, we should then monitor from 11gmt onwards. Most of the time after 7pm GMT you can pretty much write of the market for the day.

Again, I appreciate all your effort and know that I really want to trade this system.

With reference to the above two questions, This is not the only system I trade but use this for many entries on long term strategies. I use a system that trades 4hr chart using the 100 EMA, if we look at the GBP/USD, it has just broken this EMA and will either continue down Monday or bounce. With this system I will enter only once price reaches these intra day entry lines. Why? because I know that once price breaks these lines it has a much greater % of success. If you look at any term strategy and entry signal, if you use this system and on the entry it breaks the opposite entry line, well you can pretty much gurantee that this is a false signal.

PS if you trade this strategy intra day I suggest a lower spread broker. Possible EFX or Oanda, however Oanda do not do trailing stops.

Hi Mark

As one of your filters you use previous day's high and you enter long only if this is below 3rd target; does this filter apply to shorts as well, that is enter short only if yesterday's low is above 3rd target/

Regards

howard

Howard,

I use the previous days high or low filter where the previous days high or low must be between the 3rd target and entry line. This is for both, buy and sell trades.

Attached is an image with trades for the day. I will be taking one lot profit at take profit 1 and then trailing the stop at 25 pips. If the trailing stop is not hit I will be closing the order for 60 pips profit at take prfit 2

GBP/USD
Sell Trades only.

GBP/JPY
Sell Trades only.

GBP/CHF
No Trade

USD/CHF
Buy Trades only

USD/JPY
Buy Trades only

<TABLE style="WIDTH: 364pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=485 border=0 x:str><COLGROUP><COL style="WIDTH: 124pt; mso-width-source: userset; mso-width-alt: 6034" width=165><COL style="WIDTH: 48pt" span=5 width=64><TBODY><TR style="HEIGHT: 13.5pt" height=18><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 124pt; BORDER-BOTTOM: #ece9d8; HEIGHT: 13.5pt; BACKGROUND-COLOR: transparent" width=165 height=18></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl35 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: red" height=18 x:str="Buy Home Line ">Buy Home Line </TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD><TD class=xl38 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red" x:num="1.2210000000000001">1.2210</TD><TD class=xl38 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red" x:num>118.04</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl36 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: #ece9d8; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: red" height=18>Sell Home Line</TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red" x:num="1.952">1.9520</TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD><TD class=xl38 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red" x:num>230.54</TD><TD class=xl37 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD><TD class=xl38 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: red"> </TD></TR><TR style="HEIGHT: 4.5pt; mso-height-source: userset" height=6><TD class=xl32 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 4.5pt; BACKGROUND-COLOR: white" height=6></TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: white"></TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: white"></TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: white"></TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: white"></TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: white"></TD></TR><TR style="HEIGHT: 15.75pt; mso-height-source: userset" height=21><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 15.75pt; BACKGROUND-COLOR: white" height=21 x:str="Buy ">Buy </TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/USD</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/CHF</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/JPY</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">USD/CHF</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">USD/JPY</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl24 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #ff9900" height=18 x:str="Entry ">Entry </TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="4.0000000000000001E-3" x:fmla="=SUM(B2)+0.004">0.0040</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="4.0000000000000001E-3" x:fmla="=SUM(C2)+0.004">0.0040</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(D2)+0.4">0.40</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num="1.2250000000000001" x:fmla="=SUM(E2)+0.004">1.2250</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num x:fmla="=SUM(F2)+0.25">118.29</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl24 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #ff9900" height=18>StopLoss A</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="1E-3" x:fmla="=SUM(B2)+0.001">0.0010</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="1E-3" x:fmla="=SUM(C2)+0.001">0.0010</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(D2)+0.1">0.10</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num="1.222" x:fmla="=SUM(E2)+0.001">1.2220</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num x:fmla="=SUM(F2)-0.05">117.99</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl24 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #ff9900" height=18>StopLoss B</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="3.0000000000000001E-3" x:fmla="=SUM(B2)+0.003">0.0030</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="3.0000000000000001E-3" x:fmla="=SUM(C2)+0.003">0.0030</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(D2)+0.3">0.30</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num="1.224" x:fmla="=SUM(E2)+0.003">1.2240</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900"> </TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl24 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #ff9900" height=18>Take Profit 1</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="5.4999999999999997E-3" x:fmla="=SUM(B2)+0.0055">0.0055</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num="5.4999999999999997E-3" x:fmla="=SUM(C2)+0.0055">0.0055</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(C2)+0.55">0.55</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num="1.2265000000000001" x:fmla="=SUM(E2)+0.0055">1.2265</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num x:fmla="=SUM(F2)+0.4">118.44</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl24 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #ff9900" height=18>Take Profit 2</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(B2)+0.01">0.0100</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(C2)+0.01">0.0100</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #ff9900; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900; mso-ignore: style" x:num x:fmla="=SUM(C2)+1">1.00</TD><TD class=xl26 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num="1.2310000000000001" x:fmla="=SUM(E2)+0.01">1.2310</TD><TD class=xl27 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #ff9900" x:num x:fmla="=SUM(F2)+0.7">118.74</TD></TR><TR style="HEIGHT: 17.25pt; mso-height-source: userset" height=23><TD class=xl31 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: windowtext; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 17.25pt; BACKGROUND-COLOR: white" height=23 x:str="Sell ">Sell </TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/USD</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/CHF</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">GBP/JPY</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">USD/CHF</TD><TD class=xl29 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: black">USD/JPY</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl25 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #3366ff" height=18 x:str="Entry ">Entry </TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num="1.948" x:fmla="=SUM(B3)-0.004">1.9480</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-4.0000000000000001E-3" x:fmla="=SUM(C3)-0.004">-0.0040</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num x:fmla="=SUM(D3)-0.4">230.14</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-4.0000000000000001E-3" x:fmla="=SUM(E3)-0.004">-0.0040</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(F3)-0.25">-0.25</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl25 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #3366ff" height=18>StopLoss A</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num="1.9510000000000001" x:fmla="=SUM(B3)-0.001">1.9510</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-1E-3" x:fmla="=SUM(C3)-0.001">-0.0010</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num x:fmla="=SUM(D3)-0.1">230.44</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-1E-3" x:fmla="=SUM(E3)-0.001">-0.0010</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(F3)+0.05">0.05</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl25 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #3366ff" height=18>StopLoss B</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num="1.9490000000000001" x:fmla="=SUM(B3)-0.003">1.9490</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-3.0000000000000001E-3" x:fmla="=SUM(C3)-0.003">-0.0030</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num x:fmla="=SUM(D3)-0.3">230.24</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-3.0000000000000001E-3" x:fmla="=SUM(E3)-0.003">-0.0030</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(F4)+0.05">0.05</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl25 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #3366ff" height=18>Take Profit 1</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num="1.9464999999999999" x:fmla="=SUM(B3)-0.0055">1.9465</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-5.4999999999999997E-3" x:fmla="=SUM(C3)-0.0055">-0.0055</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num x:fmla="=SUM(D3)-0.55">229.99</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num="-5.4999999999999997E-3" x:fmla="=SUM(E3)-0.0055">-0.0055</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(F3)-0.4">-0.40</TD></TR><TR style="HEIGHT: 13.5pt" height=18><TD class=xl25 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 13.5pt; BACKGROUND-COLOR: #3366ff" height=18>Take Profit 2</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num="1.9419999999999999" x:fmla="=SUM(B3)-0.01">1.9420</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(C3)-0.01">-0.0100</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff" x:num x:fmla="=SUM(D3)-1">229.54</TD><TD class=xl33 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(E3)-0.01">-0.0100</TD><TD class=xl34 style="BORDER-RIGHT: windowtext 1pt solid; BORDER-TOP: windowtext; BORDER-LEFT: windowtext 1pt solid; COLOR: #3366ff; BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #3366ff; mso-ignore: style" x:num x:fmla="=SUM(F3)-0.85">-0.85</TD></TR></TBODY></TABLE>

Is this the reason you are only placing a sell gbp/usd pending order for today? Or are you saying you wait until the price breaks the 100 ema again (as it broke down and now is above again - which you are saying is a false signal) and sell immediately?

Hi Marcj,

I was wondering if you could put the reasons/rules behind NO TRADE or BUY ONLY or SELL ONLY.

Hi llambert,

Hope all is coming along well with your trading.

When the price crosses the 100 EMA I don't take a trade until the price breaks this systems entry lines and the 50CCI is showing the the matching trend. As with the today the price broke back through the 100 EMA but I have not entered.

My main systems are the longer term systems. I originally developed the Batfink intraday to provide clearer entries for longer term stratagies. Of course the system has to be a good intraday system to provide good entry into longer term trades so I effectly use this in the intraday trading as well.

Just so you know the white line on the chart is a 400EMA with 100 deviation to align with the 100EMA on the 4 hour.

I don't really want to go into this system here as this journal purpose is for the Batfink intraday.

Cheers

IIambert,

the reason I am placing a sell only is because the longer period is showing downward sentiments. As with image above and the CCI.

The reasons behind the buy and sell are based on longer term sentiment. I do not trade this system without the use of this. Whether you want to use the LSMA the CCI etc I trade only in the direction the longer term is telling me.

No Trade this is not so easy and is discretionary. As with the GBP/CHF it's just to close to huge resistance. I would rather leave this pair until it shows definite direction. either a breakthrough or a rebound.

Other reasons could be to close to strong trend daily trend lines and awaiting break or rebound, the Batfink indicator showing a clear direction not a treand change or consolidation period.

It's better to stay out of a pair than trade with uncertanty as this can just lead to emotional mistakes.

It's prior to the NY open and the GBP/USD has hit the buy entry line. We are not trading the buy signals today on this pair so this trade was not taken however I don't believe the range is there to hit Take Profit 2 positions so I will be taking the second lot at Target 2 instead. Profit 1 will remain the same.

For anyone wondering why I took the GBP/JPY trade when the previous days low was lower than target 3. I did a lot of work on this filter yesterday as it does keep you our of to many good trades. What I did discover that most of the time this filter kept you out of bad trades the trend indicator was also showing a no trade in this direction. If you look at the trade for the GBP/JPY today you will notice that the trend indicator is showing a dwonward sentiment.

Not seeing a reason to double up on filters and make a system more complicated I have decided to drop this filter.

If anyone has any comments on this please let me know.