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High & Low 8 Hours (GBP/JPY)

  • #121
  • Oct 30, 2007 11:56am Oct 30, 2007 11:56am
Well today is not a good day for this system. Luckily I only got stoped once cause when I check the price is already way up from sl.

Japan interest rate will be announced tomorrow, so I don't think that it's a good idea to trade tomorrow.
  • #122
  • Oct 30, 2007 12:08pm Oct 30, 2007 12:08pm
Quoting fxramin
position sell hit sl
but buy actived and now is in the money( moves to tp )
Yes that's right. But according to Nicotina, you should go short again when you got stoped today.

But again, if you go with the rule, you'll lost 100pips today, still I'll stick with Nicotina's rule for the next trade.
  • #123
  • Oct 30, 2007 12:23pm Oct 30, 2007 12:23pm
Quoting vsumardi
Yes that's right. But according to Nicotina, you should go short again when you got stoped today.

But again, if you go with the rule, you'll lost 100pips today, still I'll stick with Nicotina's rule for the next trade.

I think the rule is (if you are at your pc) to just reset your stop order. I did not get that chance today, but my buy was triggered after I was stopped out. So I am not so sure your short owuld have been triggered again. I was +50 today now that the buy hit the T/P
  • #124
  • Oct 30, 2007 12:44pm Oct 30, 2007 12:44pm
Quoting vsumardi
Yes that's right. But according to Nicotina, you should go short again when you got stoped today.

But again, if you go with the rule, you'll lost 100pips today, still I'll stick with Nicotina's rule for the next trade.

You don't go short again. You place another sell stop order just like the previous one.
Today, the short wouldn't have triggered the second time. The long order triggered and went to to make profit.
  • #125
  • Oct 30, 2007 12:46pm Oct 30, 2007 12:46pm
Guys,
If you haven't done it, you need to rate this thread with a bunch of stars..
It's definitely one of the best systems on this forum.
  • #126
  • Oct 30, 2007 3:37pm Oct 30, 2007 3:37pm
Its so easy to use, perfect for those days you can/t watch the market closely. Todays result = -50, +100.
  • #127
  • Oct 30, 2007 3:41pm Oct 30, 2007 3:41pm
Forum members -

Yes - Nicotina has come up with a winner. I saw a few posts wondering if this time frame breakout would work on other pairs.

Took a brief look at Eur/Jpy and found that there would have been 7 out of 7 winners in the last 7 trading days using the same time frame with 50 pips TP and a 50 pip SL. You wouldn't have had to monitor for a re-entry. Maybe someone would like to back test this cross pair a bit further back.
  • #128
  • Oct 30, 2007 3:43pm Oct 30, 2007 3:43pm
Quoting MackS10
Its so easy to use, perfect for those days you can/t watch the market closely. Todays result = -50, +100.
I'm not sure I agree with that part of it.

Today it took care of itself. It doesn't always. Usually the moves are made in the middle of the night (for me). If it hits profit, the other order needs to be canceled. If it gets stopped out, another order needs to be placed.

I'm going to try to get an EA made to manage the trade when I'm not at the screen.
  • #129
  • Oct 30, 2007 3:46pm Oct 30, 2007 3:46pm
Quoting billbss
I'm not sure I agree with that part of it.

Today it took care of itself. It doesn't always. Usually the moves are made in the middle of the night (for me). If it hits profit, the other order needs to be canceled. If it gets stopped out, another order needs to be placed.

I'm going to try to get an EA made to manage the trade when I'm not at the screen.
My thoughts exactly! It is tough to be there at all times! Good stuff here!
  • #130
  • Oct 30, 2007 3:53pm Oct 30, 2007 3:53pm
Quoting forexdetective
Forum members -

Yes - Nicotina has come up with a winner. I saw a few posts wondering if this time frame breakout would work on other pairs.

Took a brief look at Eur/Jpy and found that there would have been 7 out of 7 winners in the last 7 trading days using the same time frame with 50 pips TP and a 50 pip SL. You wouldn't have had to monitor for a re-entry. Maybe someone would like to back test this cross pair a bit further back.

It probably needs to be looked at farther back. I trade a EUR/JPY breakout system and that pair has made clean breakouts the last week or so. It doesn't always.
Anyway, it's a good start. Thanks for your effort.
  • #131
  • Oct 30, 2007 4:30pm Oct 30, 2007 4:30pm
Quoting billbss
I'm not sure I agree with that part of it.

Today it took care of itself. It doesn't always. Usually the moves are made in the middle of the night (for me). If it hits profit, the other order needs to be canceled. If it gets stopped out, another order needs to be placed.

I'm going to try to get an EA made to manage the trade when I'm not at the screen.
bill

The way I understand the method we should place buy and sell orders at 2 am gmt at high and low of the range, each order with its 50 pip stop, the only work which we have to do is to cancel one of the orders if the other has reached its target, if both get stopped out we have nothing to do.

Or if one of the entries gets stopped out and the other reaches its target, again we have nothing to do.
Regards
  • #132
  • Oct 30, 2007 4:36pm Oct 30, 2007 4:36pm
Quoting howard
bill

The way I understand the method we should place buy and sell orders at 2 am gmt at high and low of the range, each order with its 50 pip stop, the only work which we have to do is to cancel one of the orders if the other has reached its target, if both get stopped out we have nothing to do.
Let's say the short is triggered. It winds up getting stopped out.
Then we would have to place the same sell stop order again.
Two stop outs or one profit target are allowed.
  • #133
  • Oct 30, 2007 4:41pm Oct 30, 2007 4:41pm
Quoting billbss
Let's say the short is triggered. It winds up getting stopped out.
Then we would have to place the same sell stop order again.
Two stop outs or one profit target are allowed.
I think two stop outs are for one long and one short
Regards
  • #134
  • Oct 30, 2007 5:58pm Oct 30, 2007 5:58pm
Quoting howard
I think two stop outs are for one long and one short
No. It can be any combination of long and short. Any two stop outs.

If you look back to last Thursday (I think it was) Nicotina showed two long trades that both got stopped out.
  • #135
  • Oct 30, 2007 7:07pm Oct 30, 2007 7:07pm
Quoting billbss
You don't go short again. You place another sell stop order just like the previous one.
Today, the short wouldn't have triggered the second time. The long order triggered and went to to make profit.
Thanks for your help!!!
  • #136
  • Oct 30, 2007 7:13pm Oct 30, 2007 7:13pm
Quoting Nicotina
Thanks for your help!!!
Thanks for your system
  • #137
  • Oct 30, 2007 7:57pm Oct 30, 2007 7:57pm
Hi all

This is the first two months that i copy to excel i will try to copy the rest to excel in the next week.Thanks
Attached File(s)
File Type: zip GBPJPYSearch.zip   3 KB | 1,943 downloads
  • #138
  • Oct 30, 2007 8:10pm Oct 30, 2007 8:10pm
Quoting Nicotina
Hi all

This is the first two months that i copy to excel i will try to copy the rest to excel in the next week.Thanks
Thanks, Nicotina,
That looks good!!!

In January, were you experimenting with a weekly system?
  • #139
  • Oct 30, 2007 8:31pm Oct 30, 2007 8:31pm
Quoting billbss
Thanks, Nicotina,
That looks good!!!

In January, were you experimenting with a weekly system?
Yes the high and the low of monday SL100 TP250
  • #140
  • Oct 30, 2007 8:40pm Oct 30, 2007 8:40pm
Quoting Nicotina
Hi all

This is the first two months that i copy to excel i will try to copy the rest to excel in the next week.Thanks
I don't intend this to sound negative, but do these results factor in the spread? If not, could you include the number of entries for each month so we can figure that for ourselves?
Thanks a Million Nicotina
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