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Auslanco 15min GBP/JPY startegy

  • #401
  • Nov 8, 2007 7:26am Nov 8, 2007 7:26am
I also spoke a little to soon on the short entry. Got to wait until the confirmation bar!
  • #402
  • Nov 8, 2007 7:27am Nov 8, 2007 7:27am
Quoting MPP
put all the doc's in to a folder and display them in detail view or look at properties, should give a created date, might help. but i will add a date to the top of the page.

also you can click the paperclip icon at the top of the thread, it will show all posted docs and the date of posting.

regards

MPP
Thanks for that. I tried the document properties trick but it only tells me when saved to my PC. Auslancos web site is a good reference point for newbies like me but again never sure which is the most up to date - his site or your doc.(http://www.pnwenterprises.com/auslan...instrategy.htm).

Now I have read through everything here (not a small task) I have further questions.

 

  1. If re-enterring a position following a pull back past 15 QQE1 and 15 QQE 5 should stops and targets be 60 pips (trailing I think) and 100 pips from that point or from the original entry point at 15 QQE60? Think soemone asked somethign similar but I cannot find it.
  2. On my charts 15 QQE1 and 15 QQE5 are always (so far) on exactly same bar. What is purpose of using both?

This is a great learning experience. Thx.

Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #403
  • Nov 8, 2007 7:35am Nov 8, 2007 7:35am
Revoli, Thanks for the site link. I'm relatively a newbie as well. I've been researching and practicing (ie. losing money on a mini account ) for a little over 2 years. To other newbies out there....you can demo to learn, but there is no experience like the experience of risk, so initially trade with a mini. Risk intensifies emotions which can lead to huge losses.
  • #404
  • Nov 8, 2007 7:43am Nov 8, 2007 7:43am
Quoting Pips_Cruiser
The other charts should have: QQE (smoothing factor 5), Momentum (10C), Gann HiLo Activator (10), 5sma (sma = simple moving average, the VT indicator is "Moving Average", price = close, periods = 5, and type = simple), 50sma, 100sma, and 200sma (same setups as 5sma, but with periods of 50, 100, and 200). It wouldn't hurt for the 15min chart to have all of these, also, along with the other unique things we've already dealt with.
Hello PC. Saw the way u explained setting up of the 'Ausy' chart and it was straight to the point. I believe the explanation is for a VT chart. Do you please know anything about MT4 charts.http://www.forexfactory.com/images/icons/icon5.gif I'm having problems setting up my indicators on the chart (that is, the QQE, SMA, Gann Hi/Lo, and the rest).http://www.forexfactory.com/images/icons/icon9.gif
Thanx.
I am very new to fx trading (just two months on demo acct. with North Finance).
  • #405
  • Nov 8, 2007 7:58am Nov 8, 2007 7:58am
Quoting yemmey
Hello PC. Saw the way u explained setting up of the 'Ausy' chart and it was straight to the point. I believe the explanation is for a VT chart. Do you please know anything about MT4 charts.http://www.forexfactory.com/images/icons/icon5.gif I'm having problems setting up my indicators on the chart (that is, the QQE, SMA, Gann Hi/Lo, and the rest).http://www.forexfactory.com/images/icons/icon9.gif
Thanx.
I am very new to fx trading (just two months on demo acct. with North Finance).
Hi Yemmey. I use VT, so that's my where my strengths are. MPP will help you with MT4, since that's one of his areas of expertise. Good luck with everything!
  • #406
  • Nov 8, 2007 8:15am Nov 8, 2007 8:15am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting revoli
Thanks for that. I tried the document properties trick but it only tells me when saved to my PC. Auslancos web site is a good reference point for newbies like me but again never sure which is the most up to date - his site or your doc.(http://www.pnwenterprises.com/auslan...instrategy.htm).

Now I have read through everything here (not a small task) I have further questions.

 

  1. If re-enterring a position following a pull back past 15 QQE1 and 15 QQE 5 should stops and targets be 60 pips (trailing I think) and 100 pips from that point or from the original entry point at 15 QQE60? Think soemone asked somethign similar but I cannot find it.
  2. On my charts 15 QQE1 and 15 QQE5 are always (so far) on exactly same bar. What is purpose of using both?

This is a great learning experience. Thx.

Yes when you re-enter targets are the same, not so sure about the QQE question, they do move differently and are used differently for the re-entry trade. watch them and see how it goes, you will see the movement as time goes on.
  • #407
  • Nov 8, 2007 8:19am Nov 8, 2007 8:19am
Hello MPP! I was informed by Pip Cruiser that ur area of expertise is MT4 (@ least in chart matters).
I need a hand in setting up my indicators on the Ausy chart.http://www.forexfactory.com/images/icons/icon12.gif
  • #408
  • Nov 8, 2007 8:25am Nov 8, 2007 8:25am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting yemmey
Hello PC. Saw the way u explained setting up of the 'Ausy' chart and it was straight to the point. I believe the explanation is for a VT chart. Do you please know anything about MT4 charts.http://www.forexfactory.com/images/icons/icon5.gif I'm having problems setting up my indicators on the chart (that is, the QQE, SMA, Gann Hi/Lo, and the rest).http://www.forexfactory.com/images/icons/icon9.gif
ThanxI am very new to fx trading (just two months on demo acct. with North Finance).

Hi Yemmy
have you downloaded all the required MT4 files. if load this template into the template folder, restart MT4, open chart, open header chart and look in templates, click on 15m template and all should set correctly.


Attached File(s)
File Type: tpl auslanco 1m 15m.tpl   70 KB | 974 downloads


Attached File(s)
File Type: tpl auslanco.tpl   77 KB | 759 downloads


let me know how you get on.
  • #409
  • Nov 8, 2007 8:26am Nov 8, 2007 8:26am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting yemmey
Hello MPP! I was informed by Pip Cruiser that ur area of expertise is MT4 (@ least in chart matters).
I need a hand in setting up my indicators on the Ausy chart.http://www.forexfactory.com/images/icons/icon12.gif
by no means an expert, but i have got Aus's system up and running.
  • #410
  • Nov 8, 2007 11:59am Nov 8, 2007 11:59am
I'm unto it and I hope it works.
Will keep u posted.
Thanx.
  • #411
  • Nov 9, 2007 12:01am Nov 9, 2007 12:01am
Quoting Pips_Cruiser
Here's how my screen looks, using VT charts, when I'm trading the 15 min strategy. I keep the 15min, 30min, and 1hr charts open. The 15min (on the left) gives me the signals. I use the 30min chart for determining 5sma retrace and entry points. The 1hr chart is good for keeping track of the 1hr 5sma, checking the 1hr QQE status, and the 1hr 100sma price point. I also change the 1hr chart to 4hr now and then to check that QQE, and also it's 5sma.
I know that the price will move arounf the 5SMA, but what to look out for the 50SMA, 100SMA & 200SMA?

Thanks.
  • #412
  • Nov 9, 2007 2:08am Nov 9, 2007 2:08am
Quoting joyrider
I know that the price will move around the 5SMA, but what to look out for the 50SMA, 100SMA & 200SMA?

Thanks.
Good question. With Auslanco's strategies, we know about retraces to the 30min, 1hr, and 4hr 5sma. We can use them for entry points, and to better understand price movements. You might also remember that the 1hr 100sma is one of things we check for a 15min strategy trade.

The 50sma, 100sma, and 200sma are likely areas of support and resistance. Price can have a hard time moving past them. If the 1hr 100sma is just above price, and you go long with a 15min strategy, price might rise as high as the 100sma and stop. Or worse yet "bounce" off it and head the other direction. So it's a good idea to make sure price is above it already if you're going long, or below it if you're going short. 50sma and 200sma act in similar ways, even though they're not mentioned in the strategy docs. You'll read about these in the forums, from the other traders, so it's nice to have them on your charts so you know what they're talking about. Sometimes they'll use 50ema and 200ema instead, but they amount to the same thing. They're potential roadblocks to your TP area that you need to watch out for, but also areas that you can use to your advantage when setting up stop losses.
  • #413
  • Nov 9, 2007 8:37am Nov 9, 2007 8:37am
Quoting Pips_Cruiser
Good question. With Auslanco's strategies, we know about retraces to the 30min, 1hr, and 4hr 5sma. We can use them for entry points, and to better understand price movements. You might also remember that the 1hr 100sma is one of things we check for a 15min strategy trade.

The 50sma, 100sma, and 200sma are likely areas of support and resistance. Price can have a hard time moving past them. If the 1hr 100sma is just above price, and you go long with a 15min strategy, price might rise as high as the 100sma and stop. Or worse yet "bounce" off it and head the other direction. So it's a good idea to make sure price is above it already if you're going long, or below it if you're going short. 50sma and 200sma act in similar ways, even though they're not mentioned in the strategy docs. You'll read about these in the forums, from the other traders, so it's nice to have them on your charts so you know what they're talking about. Sometimes they'll use 50ema and 200ema instead, but they amount to the same thing. They're potential roadblocks to your TP area that you need to watch out for, but also areas that you can use to your advantage when setting up stop losses.
Thats interesting stuff. Having worked through Auslanco's 15 min and 1 hour strats (latter used to great effect today) I am trying to get my head around how entries at retracments to the various sma's are made and more importantly what stops and targets to set having enterred. My current thinking is take a look at what seems sensible making sure the TP is at least twice the stop distance. Any good thoughts/threads on this??
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #414
  • Nov 9, 2007 1:07pm Nov 9, 2007 1:07pm
Quoting revoli
Thats interesting stuff. Having worked through Auslanco's 15 min and 1 hour strats (latter used to great effect today) I am trying to get my head around how entries at retracments to the various sma's are made and more importantly what stops and targets to set having enterred. My current thinking is take a look at what seems sensible making sure the TP is at least twice the stop distance. Any good thoughts/threads on this??
H Revoli. This can be a pretty complicated subject, and probably has different answers for traders with different levels of experience. There are advantages to keeping things simple. I've noticed that 100 pips TP and 60 pips SL work very well with the 15min strategy. I haven't had many 4hr / 1hr trades lately, but I do recall using twice the distance for TP as SL, and that does add up to good money management. I think people new at trading should stick to these guidelines.

Understanding 5sma retraces can very helpful. I used to watch GBP/JPY price move up and down, and it didn't make much sense. But when I started watching it move in relation to the 15min, 30min, 1hr, and 4hr 5sma levels, it put a whole new light on the issue. All of a sudden it was moving from one 5sma level to the next. It might not be perfectly predictable, but you can see it move from place to place, resting for awhile (actually picking up buys and sells at that price), then moving on to the next. I used to panic when I saw price take off in the opposite direction of my trade. Now I just check to see if it might be moving toward a 5sma, and in most cases it is. Price doesn't always work like this, because other factors might be involved at the time (breakouts, fundamental news, etc.). But it's uncanny how often it does. A person really needs to watch it for themselves to get a feel for it. I think it's part of becoming familiar with the currency pair, and taking some of the monster out of GBP/JPY.

You can use your knowledge of 5sma's for entry points. There's usually a delay before price "breaks out" for 100 - 200 pips profit. If possible, wait for price to move (retrace) to a 5sma that will give you a better entry. I prefer the 30min 5sma because it's a nice combination of 1) happening a lot and 2) giving good position. But 15min and 1hr can work too. Get familiar with how often they happen, and how far apart their price points are, and you can make a pretty sound judgement call. Getting a good entry point can keep your stop loss away from price action, and help you get all your pips!

  • #415
  • Nov 11, 2007 5:25pm Nov 11, 2007 5:25pm
For Sunday, what do you suggest I should use as the pivots? Friday's or Thursday's data?
  • #416
  • Nov 11, 2007 5:36pm Nov 11, 2007 5:36pm
Quoting et_phonehome_2
For Sunday, what do you suggest I should use as the pivots? Friday's or Thursday's data?
I do the regular setup for Asian daily pivots on Sunday, using 19est for the starting hour, and doing the setup at 19 EST or shortly after. It seems to pull in the last 24 hours of data from that point in time, which mostly includes Friday's.
  • #417
  • Nov 11, 2007 5:50pm Nov 11, 2007 5:50pm
Quoting Pips_Cruiser
I do the regular setup for Asian daily pivots on Sunday, using 19est for the starting hour, and doing the setup at 19 EST or shortly after. It seems to pull in the last 24 hours of data from that point in time, which mostly includes Friday's.
For MT4, do you mean you specify DailyStartHours as 19?
  • #418
  • Nov 11, 2007 5:58pm Nov 11, 2007 5:58pm
Quoting et_phonehome_2
For MT4, do you mean you specify DailyStartHours as 19?
Well, I don't use MT4. But with VT it wants a starting hour in EST time, and I enter "19".
  • #419
  • Nov 12, 2007 12:47am Nov 12, 2007 12:47am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting et_phonehome_2
For MT4, do you mean you specify DailyStartHours as 19?
on MT4 19est is the daystartHour for the asian session, but don't forget to allow for your broker offset. i.e. my broker is on gmt so i have to add 4 hours to the est time so i set my DayStartHour to 23.

hope this makes sense
  • #420
  • Nov 12, 2007 3:51am Nov 12, 2007 3:51am
I have noticed by looking back in time, we will at times miss quite a few trades if we only take trades above/below the daily pivot point. Is anyone following the rules in its entirety? I know the rules is to get the best possible entries to minimize losses....
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