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iandekoker's 5 profit target trades

  • #181
  • Nov 2, 2007 2:44am Nov 2, 2007 2:44am
Quoting iandekoker
here is a short trade to start the day with
Oromis

I am assuming u are referring to this trade?

The smas had crossed down. The ADX moved above 35 level. so the 2 critria have been met.

The purple line is my trendline.

The red candlestick upon which i based my trade had 13 pips in it. However i was only looking for 5 pips PLUS i recogned the price would go down thru the trend line
  • #182
  • Nov 2, 2007 2:47am Nov 2, 2007 2:47am
here is another 5 pips made on a long trade
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 21 KB
  • #183
  • Nov 2, 2007 2:48am Nov 2, 2007 2:48am
and here is a 5 pips on gbp/usd
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 21 KB
  • #184
  • Nov 2, 2007 3:27am Nov 2, 2007 3:27am
Hi Ian, I've been following this thread for a while. It's nice to see that such a simple system could be profitable even with such low TP-levels. Just a question: when you say you shoot for 5 pips, do you include spread in that number?
Liberate me ex inferis
  • #185
  • Nov 2, 2007 3:47am Nov 2, 2007 3:47am
Hi Ian,

I don't post all my trades here.... but I'm simply amazed.
The only thing I changed is TP=6 and SL=16 to get my R:R better.
And I try to only sell when the price is below 50 SMA and vice versa, to make it even safer... but not following this rule all the time. There is some "feeling" involved as well.
Otherwise I'm following your setup.

8 nice trades yesterday (+48) and already 3 this morning (+18)
Most trades are over in the 1st two minutes.

I just love it!

I attach an indicator which sounds an alert and draws an arrow when the two DIs are crossing up or down. That helps me not to miss an opportunity.

Thanks again...
Attached File(s)
File Type: mq4 ADX Crossing_Alert.mq4   3 KB | 257 downloads
"The only successful substitute for brains is silence."
  • #186
  • Nov 2, 2007 4:14am Nov 2, 2007 4:14am
DX, do you wait for the candle to close after the signal, or enter as soon as it crosses?

Would you like to have the indicator modified so that it only gives the alert if price is on the right side of the 50 MA?

Just give me the details of what you want. I'm very busy on an EA right now, but if it won't take much time I can probably get to it.
  • #187
  • Edited 4:46am Nov 2, 2007 4:40am | Edited 4:46am
Quoting blueruby
DX, do you wait for the candle to close after the signal, or enter as soon as it crosses?

Would you like to have the indicator modified so that it only gives the alert if price is on the right side of the 50 MA?

Just give me the details of what you want. I'm very busy on an EA right now, but if it won't take much time I can probably get to it.
Hi blueruby,

thanks for your offer. That would be a great addition, yes.
What I would like more (sorry, I know a bit how to read a code... but can't code myself) is an alert window telling me what pair it is about. Right now it just give a sound and I have to scroll through my charts to see where it is.

Edit: Just checked my UJ chart... forget this 50SMA addition. I would have made 2 bad trades with this today. Two sells below the 50SMA turning in losers. Thanks anyway

I wait for the candle to close as the arrow might disappear during the 15 minutes of the candle. So after the alert I mostly have some time to decide whether I take this trade, or not. Thats why the 50 SMA alert included isn't really important (although nice . I like to analyze my trades before taking them.

Made another +6 on Euro (+24 for today) and I'm done as we approach the NFP... and thats a No-No for me.

Have a nice week-end all...
"The only successful substitute for brains is silence."
  • #188
  • Edited 5:39am Nov 2, 2007 5:18am | Edited 5:39am
This should work fine. I haven't tested it but I didn't change anything, just added the alert.
  • #189
  • Nov 2, 2007 5:31am Nov 2, 2007 5:31am
Quoting blueruby
This should work fine. I haven't tested it but I didn't change anything, just added the alert.
Wow, that was fast!

Thanks heaps... and have great trades.
"The only successful substitute for brains is silence."
  • #190
  • Nov 2, 2007 5:40am Nov 2, 2007 5:40am
Quoting Ronyn76
Hi Ian, I've been following this thread for a while. It's nice to see that such a simple system could be profitable even with such low TP-levels. Just a question: when you say you shoot for 5 pips, do you include spread in that number?
Hello R

Thx for the compliment. Yes forex is difficult enough as it is....so decided to simply things a bit....lol

when i take 5 pip profit is does not include the spread. so when i am trading eur/usd which i trade with a 2 pip spread, i need to make 7 pips in order to close my trade with a 5 pip profit

i hope it helps
  • #191
  • Nov 2, 2007 5:42am Nov 2, 2007 5:42am
It was fast because the alert line was already in there, it was commented out. But, when it came up, it looked crappy.

This is better, get rid of the other or save over it. I didn't change the version number.
Attached File(s)
File Type: mq4 ADX Crossing_Alert 1.1.mq4   4 KB | 357 downloads
  • #192
  • Nov 2, 2007 5:43am Nov 2, 2007 5:43am
Quoting DXTrade
Hi Ian,

I don't post all my trades here.... but I'm simply amazed.
The only thing I changed is TP=6 and SL=16 to get my R:R better.
And I try to only sell when the price is below 50 SMA and vice versa, to make it even safer... but not following this rule all the time. There is some "feeling" involved as well.
Otherwise I'm following your setup.

8 nice trades yesterday (+48) and already 3 this morning (+18)
Most trades are over in the 1st two minutes.

I just love it!

I attach an indicator which sounds an alert and draws an arrow when the two DIs are crossing up or down. That helps me not to miss an opportunity.

Thanks again...
O man that is awesome.......11 winning trades...now that is what i call beating the market....

ok lemme check out the way u do things...i am sure i can learn something from you.....i like the idea of using 50 moving average....it is good indicator...
  • #193
  • Nov 2, 2007 5:48am Nov 2, 2007 5:48am
so we are nearing the NFP news announcement. As usual i will stop trading now and jsut observe. I am not man enough to trade the NFP

Consensus is 80 000 number. The range is 10 000 to 110 000.

So if the number comes out within the range the trend will continue as usual for this week....the dollar will be put under more pressure

If the number is better than 110 000 (and people believe the number could be as good as 125 000) then the dollar will strengthen and gain some of the ground it has lost this past couple of days.

But as usual we are in for a rough ride...lol
  • #194
  • Nov 2, 2007 5:57am Nov 2, 2007 5:57am
Quoting iandekoker
O man that is awesome.......11 winning trades...now that is what i call beating the market....

ok lemme check out the way u do things...i am sure i can learn something from you.....i like the idea of using 50 moving average....it is good indicator...
Not sure whether I can teach you anything. You made more then me

I use the 50 SMA to see where the trend is, but not as an absolute rule.
The 2 UJ trades I mentioned earlier where sells below the 50 line... would have been losers.
Just now there was a sell signal on cable above the 50 line... would have been a loser as well. Just followed by a down cross of the 4-11 emas. Thats why I didn't took that buy. The next candle gave a sell signal, 4-11 MAs crossed below, but price is above 50... see the dilemma? Might become a winner.

So a pair like cable today turning around the 50 line with heaps of volatile movements... I stay away.

But that is nothing you can code or explain...
"The only successful substitute for brains is silence."
  • #195
  • Nov 2, 2007 6:16am Nov 2, 2007 6:16am
Quoting iandekoker
ok lemme check out the way u do things...
DX is definitely getting in earlier and catching some that are over by the time "our arrow" shows up.

That "feel" he mentions is everything, regardless of method.

I've had a few losing days. Back to 10 cents a pip for me! I'll get there.
  • #196
  • Nov 2, 2007 6:18am Nov 2, 2007 6:18am
Quoting blueruby
DX is definitely getting in earlier and catching some that are over by the time "our arrow" shows up.

That "feel" he mentions is everything, regardless of method.

I've had a few losing days. Back to 10 cents a pip for me! I'll get there.
oh no...what made them loosing days? What did u do wrong?
  • #197
  • Nov 2, 2007 6:40am Nov 2, 2007 6:40am
Just an addition:
You can trade against the 50 line, that may work out... but never against the 4-11 lines. If they get close together from lets say 4 above 11 and pointing down... no way I enter a buy trade.
I very much pay attention of the slope of the MAs. The steeper, the better.
"The only successful substitute for brains is silence."
  • #198
  • Nov 2, 2007 7:40am Nov 2, 2007 7:40am
Quoting iandekoker
oh no...what made them loosing days? What did u do wrong?
GRRRRRRRR I hate when that happens!!!! I wrote a nice, well-thought out post, submitted, and lost the whole *%&#$#&)_(&*^^$^%* thing because the "servers were busy". On a lot of sites you can hit "back" and get back all your text and try again.

OK. Deep breath. sonofabitch. deep breath. OK, do it again.

I've not been up before 4 or 5 EDT this week and have missed a lot of good signals I think. The choppy market has given a lot of false signals, a lot of arrows have picked tops and bottoms. So I've strayed from the system. You can't just go by the arrows, obviously, you have to know which trades to take and which to pass on, and that comes with experience and feel for the system and the overall trade setup. Bottom line, I've been lazy and haven't scoped out the big picture to take only "A" trades.

Also, my 4 profitable days in a row messed my head up. I didn't want to break my streak, so I was being "careful" or something. That change in mindset was enough to throw off whatever I had going. Whenever it means too much to me, I'll screw it up.

So, I hope it doesn't sound like excuses, I try to figure out what I did wrong, and what things went wrong that I couldn't control.

This will be a good day to program and study.

It would also be a good day to gamble, if a person were so inclined (not me)!
  • #199
  • Nov 2, 2007 8:06am Nov 2, 2007 8:06am
Quoting blueruby
GRRRRRRRR I hate when that happens!!!! I wrote a nice, well-thought out post, submitted, and lost the whole *%&#$#&)_(&*^^$^%* thing because the "servers were busy". On a lot of sites you can hit "back" and get back all your text and try again.

OK. Deep breath. sonofabitch. deep breath. OK, do it again.

I've not been up before 4 or 5 EDT this week and have missed a lot of good signals I think. The choppy market has given a lot of false signals, a lot of arrows have picked tops and bottoms. So I've strayed from the system. You can't just go by the arrows, obviously, you have to know which trades to take and which to pass on, and that comes with experience and feel for the system and the overall trade setup. Bottom line, I've been lazy and haven't scoped out the big picture to take only "A" trades.

Also, my 4 profitable days in a row messed my head up. I didn't want to break my streak, so I was being "careful" or something. That change in mindset was enough to throw off whatever I had going. Whenever it means too much to me, I'll screw it up.

So, I hope it doesn't sound like excuses, I try to figure out what I did wrong, and what things went wrong that I couldn't control.

This will be a good day to program and study.

It would also be a good day to gamble, if a person were so inclined (not me)!
well i am sure you can turn the loosing days into winning days again....."discipline...patience...endurance"...lol
  • #200
  • Nov 2, 2007 8:09am Nov 2, 2007 8:09am
Quoting iandekoker
yes a few people seem to have a problem with 1:4 risk/reward.

But if you look closely you can see there is often more than 5 pips profit to be taken.
Yes, but how do you know that you will get more than 5 pips before the fact?(you don't)

With R:R of 1:4, you have to win greater than 80% of the time to be profitable.

8 Wins = 40(8 X 5 pips)
2 Losses = 40(2 X 20 pips)

Something about 2 losses wiping out 8 of my wins is unappealing. Again, I am still looking into this and am not discounting your idea in any way. It's just not my kind of trading. A couple of losing days, and you could be starting from weeks ago.

Personally, I'm trying to look into a way of trading with MM along the lines of a 2-3 pip stop and 5 pip T/P, but this is proving to be a difficult task.. In this way, you would only have to win 40% of the time or so though. I'll get back to you if I come up with anything that might help you out.

Keep up the good work,

Kevin
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