iandekoker's 5 profit target trades | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Multiple trades in one direction with profit target 33 replies

Profit From Profit-Taking —Scalping the Session Close 21 replies

Profit Target, Loss Target 1 reply

Would you take profit with 500pips profit or? 26 replies

Would you take profit with 500pips profit or? 3 replies

Attachments: iandekoker's 5 profit target trades
Exit Attachments

iandekoker's 5 profit target trades

  • #101
  • Oct 29, 2007 2:37am Oct 29, 2007 2:37am
Quoting DXTrade
Thats my intention?

Although I'm tweaking the system a bit right now... sorry... to make it fit my trading style.
That's what systems are for...so everyone can tweak them to their liking

By the way....look at this.....see what happens when the SMAs cross AND the ADX first dip under the 35 level and then rise above the 35 level. Then you get more than just 5 pips. I have studied it on eur/jpy and gbp/jpy which of course are more volatile currencies. Unfortunately i dont trade volatile currencies but if a traders seeks higher risk/reward then that might be a good pair to trade with this system
  • #102
  • Oct 29, 2007 2:40am Oct 29, 2007 2:40am
Quoting DXTrade
And here my 3rd GBPUSD trade for today with +5

Below my 2 cable trades from today. I added a 50 SMA and take only long trades when the price is above and only shorts when the price is below.

The two others are 10 EMA and 21 EMA... but I not really care about a cross... it's just safer when the 10EMA is above the 21EMA as well.

Just my 2 cents...
I don't want to hijack your thread here
Tell me if it bothers you!
yes it is good to have a 50 moving average to help you with the direction of the trend. Nice little system.
  • #103
  • Oct 29, 2007 2:46am Oct 29, 2007 2:46am
Quoting DXTrade
And here my 3rd GBPUSD trade for today with +5

Below my 2 cable trades from today. I added a 50 SMA and take only long trades when the price is above and only shorts when the price is below.

The two others are 10 EMA and 21 EMA... but I not really care about a cross... it's just safer when the 10EMA is above the 21EMA as well.

Just my 2 cents...
I don't want to hijack your thread here
Tell me if it bothers you!
Tell me more about your advance ADX?

Are those bars representing the DMI lines?
  • #104
  • Oct 29, 2007 2:48am Oct 29, 2007 2:48am
Ok so let's test this. On this chart the ADX is dipping under the 35 level. So we now wait for the black sma to cross up over the pink sma and then once the ADX rises above the 35 level we enter long. I am sure we can get 5 pips. Some would even get more....i recogne about 10-30 pips...let's see how this unfolds...
  • #105
  • Oct 29, 2007 2:49am Oct 29, 2007 2:49am
oops forgot the chart

Ok so let's test this. On this chart the ADX is dipping under the 35 level. So we now wait for the black sma to cross up over the pink sma and then once the ADX rises above the 35 level we enter long. I am sure we can get 5 pips. Some would even get more....i recogne about 10-30 pips...let's see how this unfolds...

http://www.forexfactory.com/images/misc/progress.gif

Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 14 KB
  • #106
  • Oct 29, 2007 2:56am Oct 29, 2007 2:56am
Quoting iandekoker
Tell me more about your advance ADX?

Are those bars representing the DMI lines?
As far as I understood the Advanced ADX is blue when the +DMI is above the -DMI and vice versa. Makes it less cluttered for me. Easier to read.
"The only successful substitute for brains is silence."
  • #107
  • Oct 29, 2007 3:06am Oct 29, 2007 3:06am
Quoting DXTrade
As far as I understood the Advanced ADX is blue when the +DMI is above the -DMI and vice versa. Makes it less cluttered for me. Easier to read.
oh ok....and how do you navigate this system in ranging market when DMI seems to be all over the place while there is not a strong trend?
  • #108
  • Oct 29, 2007 3:18am Oct 29, 2007 3:18am
ok the sma has crossed but ADX is till under 35
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 14 KB
  • #109
  • Oct 29, 2007 3:18am Oct 29, 2007 3:18am
If the price is above SMA 50 I wait until the ADX bar is blue after a red period (wait for the candle to close) and then I enter at the open of the new candle.

Just closed another Euro trade with +5.

Below my 2 Euro trades of today. Thats 4 winners for today... 1 more and I'm done

Thanks mate for this 5-pip-discussion. Brought me back to earth! I need this sometimes.
Attached Image
"The only successful substitute for brains is silence."
  • #110
  • Oct 29, 2007 3:24am Oct 29, 2007 3:24am
Quoting DXTrade
If the price is above SMA 50 I wait until the ADX bar is blue after a red period (wait for the candle to close) and then I enter at the open of the new candle.

Just closed another Euro trade with +5.

Below my 2 Euro trades of today. Thats 4 winners for today... 1 more and I'm done

Thanks mate for this 5-pip-discussion. Brought me back to earth! I need this sometimes.
Seems simple. If you would post the Advanced ADX indicator I will run a backtest on it.

The only thing easier than this system is having an EA do it for you!
  • #111
  • Oct 29, 2007 3:27am Oct 29, 2007 3:27am
ok while we wait for the market to move in a direction here is a little beauty.

Very often would the price break up above the daily pivot point. Then you would use the two greens lines (M4 and R2) as profit taking levels. Look back at your charts and see how often when the price breaks above the daily pivot does the market reach these two greens lines and then bounce off it....

This is not part of the 5pip system. It is more for traders who want more profits but are not sure where to take profits
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 21 KB
  • #112
  • Oct 29, 2007 3:32am Oct 29, 2007 3:32am
How do you plot the pivots? Formula and times?
  • #113
  • Oct 29, 2007 3:36am Oct 29, 2007 3:36am
Here is the advanced ADX indicator.

Credit goes to Waddah Attar, who has created a lot of nice and useful indicators.
Attached File(s)
File Type: mq4 Advanced_ADX.mq4   2 KB | 324 downloads
"The only successful substitute for brains is silence."
  • #114
  • Oct 29, 2007 3:43am Oct 29, 2007 3:43am
Quoting DXTrade
Here is the advanced ADX indicator.

Credit goes to Waddah Attar, who has created a lot of nice and useful indicators.
OK, what this is doing is this, it plots the ADX (main) as a bar. If +DI is above -DI, it's blue, if below, it's red.

The normal ADX has much more information, however, if the advanced is working for you, then by all means, use it.

Also note that it uses 13 periods as a default; this is a user input so you can change it.

I probably won't backtest it. There are wayyyy too many DI line crosses, the whips would drain the account I'm sure. Maybe if I'm bored this afternoon. Not likely, the weather calls for 64 and sunny, and there's a jeep calling my name....
  • #115
  • Oct 29, 2007 3:49am Oct 29, 2007 3:49am
Quoting blueruby
How do you plot the pivots? Formula and times?

here goes
Attached File(s)
File Type: mq4 Pivot Lines.mq4   15 KB | 223 downloads
  • #116
  • Oct 29, 2007 3:49am Oct 29, 2007 3:49am
Quoting blueruby
OK, what this is doing is this, it plots the ADX (main). If +DI is above -DI, it's blue, if below, it's red.

The normal ADX has much more information, however, if the advanced is working for you, then by all means, use it.

Also note that it uses 13 periods as a default; this is a user input so you can change it.
Thats what I said above. Yes, and thats why I wait for a red bar during an uptrend and for a blue bar to be finished afterwards. That shows me that the DI is coming from below and all moves up. And as soon as the ADX is above 25 thats enough for me to enter. Therefore my settings on my chart.
"The only successful substitute for brains is silence."
  • #117
  • Oct 29, 2007 3:54am Oct 29, 2007 3:54am
first pivot point indicator sets daily pivot points

this next one also sets weekly and monthly pivot points

i have daily pivot points on my charts plus weekly and monthly pivot points. gives me excellent support and resistance levels cause pivot points tend to be good support and resistance levels.

u have the option to activate weekly and monthly support and resistance levels too....i chose not to activate them otherwise my charts are too cluttered and then i will never make a trade ever....cause i would be watching out for too many "oh no this is not gonna work out" trades...lol
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 264 downloads
  • #118
  • Oct 29, 2007 3:59am Oct 29, 2007 3:59am
Quoting DXTrade
Thats what I said above.
What you said was, "As far as I understand..." so it appeared that you really weren't 100% sure what it was doing. You also didn't tell us that the bar is actually ADX main.

It's always best to know absolutely what your indicator is showing you if you're putting money on it. Now you know, I checked the code.
  • #119
  • Oct 29, 2007 4:00am Oct 29, 2007 4:00am
for those who love gbp/jpy and like volatile currencies here was a perfect trade this morning. See how the sma crossed - then the ADX well under 35 level - then the ADX rose up above the 35 level. I am sure you would have made a few pips here...maybe 10-30 depending on ur spread...

but i passed on this...i am too scared of gbp/jpy....lol
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 16 KB
  • #120
  • Oct 29, 2007 4:07am Oct 29, 2007 4:07am
red light...red light...lol

ok if you look at the eur/usd and gbp/usd 15 min charts you would have noticed that the ADX just rose above the 35 level yet the prices of both these currencies have dropped slightly......

Now this is a matter of concern.....all i can think off is that the trend is not as strong as the indicators show....plus the fact the we are trading at very high levels....so i would see my eur/usd trade out....probably gonna hit my stop loss.....

and then i would just sit and watch....today might be a slow day....there is not a lot of news out....so best is to wait for better trading days....cause if you chase the market you will get burned....
0 traders viewing now