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Supernova GBP/JPY Mini Trend Catcher

  • #2,981
  • Nov 19, 2007 2:50am Nov 19, 2007 2:50am
Quoting Nofx
Hi Orion,

I use this one and it has been working well. I think a lot of these pivot indicators are quite different - I get different data out of some of them. After I looked at that autopivot it did not match up with mine on the S/R levels but it was close on the pivot. I still have to refresh the one I use everytime a new day begins. I will have to look into this a little more tomorrow I guess.


Hmmmm...

NOFX
Hey Dogster!

This is my moday Egg-tour, so I am on and off all the time. Any trades so far? Hope your weekend was dog-heaven!

Ciao
GnatFly
  • #2,982
  • Nov 19, 2007 3:14am Nov 19, 2007 3:14am
Quoting Nofx
Hi Orion,

I use this one and it has been working well. I think a lot of these pivot indicators are quite different - I get different data out of some of them. After I looked at that autopivot it did not match up with mine on the S/R levels but it was close on the pivot. I still have to refresh the one I use everytime a new day begins. I will have to look into this a little more tomorrow I guess.


Hmmmm...

NOFX
Thanks buddy. I'll give it a try.
  • #2,983
  • Nov 19, 2007 5:45am Nov 19, 2007 5:45am
NOFX,

Heey. Whats up? Hope trading is going well. I have a question on your decision on which trades to pick. Do you consider all long and short trades when they are signaled? I noticed with the G/Y pair that you can get significant trades on both ends due to its volatility. So I most the time get lost when trying to decide if the trend is moving upward or down or even sideways. Some big moves get missed when I think the trend is one way but completely goes against my judgement. Thanks again.

AdAm HeFnEr
"Your big opportunity may be right where you are now." Napoleon Hill
  • #2,984
  • Nov 19, 2007 7:41am Nov 19, 2007 7:41am
Thank you NOFX, Thank you Orion
  • #2,985
  • Nov 19, 2007 7:57am Nov 19, 2007 7:57am
Quoting Gnat
Hey Dogster!

This is my moday Egg-tour, so I am on and off all the time. Any trades so far? Hope your weekend was dog-heaven!

Ciao
GnatFly
Hey Gnat!

I haven't taken any trades this week. There was a decent one on Sunday but I was not at home when it occurred. The rest of the signals were a little too choppy for my liking - ie long wicks in both directions and too close to pivots. The weekend was good - hope egg patrol is going well. Mine are outside playing in the snow - there isn't even enough to cover the grass lol.

Talk to you soon,

Doggy
  • #2,986
  • Edited 8:22am Nov 19, 2007 8:06am | Edited 8:22am
Quoting TheHefner
NOFX,

Heey. Whats up? Hope trading is going well. I have a question on your decision on which trades to pick. Do you consider all long and short trades when they are signaled? I noticed with the G/Y pair that you can get significant trades on both ends due to its volatility. So I most the time get lost when trying to decide if the trend is moving upward or down or even sideways. Some big moves get missed when I think the trend is one way but completely goes against my judgement. Thanks again.

AdAm HeFnEr

Hi Adam,

Yes, I do consider all long and short trades when they occur. I do not pay much attention to the long term trend for exactly the reason you stated.

Remember that my strategy is based on making 20 pips initially so if I get a good signal and there are no S/R obstacles within about 30 pips I will most likely take the trade - probably 90% of the time

There are times when I will not take a trade just because I have a bad "feeling" about it at the time. That is something I can not really explain to anyone but is just something I learned by watching the pair (and I am not always right). There are times I have stayed out of a trade and it ended up being huge.

As you said, there is usually enough volatility in this pair to provide 20 pips even on a counter trend move.

EDIT: I will probably err on the side of caution this week as it is a holiday week here in the U.S.

Have a good one,

NOFX
  • #2,987
  • Nov 19, 2007 8:36am Nov 19, 2007 8:36am
Quoting Nofx
Hey Gnat!

I haven't taken any trades this week. There was a decent one on Sunday but I was not at home when it occurred. The rest of the signals were a little too choppy for my liking - ie long wicks in both directions and too close to pivots. The weekend was good - hope egg patrol is going well. Mine are outside playing in the snow - there isn't even enough to cover the grass lol.

Talk to you soon,

Doggy
Hiho, Dogman!

My setup calls for a decline to 220/221 and then an uproar to 245 and the like. (This is not a joke this time ) Unfortunately this day seems to be lost for my prediction, hehehe!
I will PM you in a bit - wanna talk about bees and such!

Ciao
Matt!
  • #2,988
  • Nov 19, 2007 8:52am Nov 19, 2007 8:52am
Quoting Nofx
Hi Adam,

Yes, I do consider all long and short trades when they occur. I do not pay much attention to the long term trend for exactly the reason you stated.

Remember that my strategy is based on making 20 pips initially so if I get a good signal and there are no S/R obstacles within about 30 pips I will most likely take the trade - probably 90% of the time

There are times when I will not take a trade just because I have a bad "feeling" about it at the time. That is something I can not really explain to anyone but is just something I learned by watching the pair (and I am not always right). There are times I have stayed out of a trade and it ended up being huge.

As you said, there is usually enough volatility in this pair to provide 20 pips even on a counter trend move.

EDIT: I will probably err on the side of caution this week as it is a holiday week here in the U.S.

Have a good one,

NOFX
Hey NOFX,

You like "Truck Stop Blues"?

So your initial taking is 20 pips on half of your position? I to have been following this type of MM. Move the other to break even once that is hit. I been rejected a few times though on place my stop right above/below the pivot level. I find it to be a strong signal if a signal is generated right at a S/R level but have been taking outof the trade with the entry candle spiking above the line, only to return to the trend.

If I may ask another question. How much of a break of the line do you consider a realiable break. Below is a chart that I have several breaks with confirmed entry signals. In my pic you will noticed I have removed the HA candles and replaced with ordinary candles. Thanks again for your insight.

Adam
Attached Image (click to enlarge)
Click to Enlarge Name: nofx.jpg Size: 184 KB
"Your big opportunity may be right where you are now." Napoleon Hill
  • #2,989
  • Nov 19, 2007 8:58am Nov 19, 2007 8:58am
I am a newbie n would like 2 know if u can plz give me a very good expert

advisor..I would be very grateful............


And I am also working on an expert advisor with great potentials.......


Would let u all know when its ready.......

thanks
Everything is bare Making the best out of pips
  • #2,990
  • Nov 19, 2007 9:35am Nov 19, 2007 9:35am
Quoting TheHefner
Hey NOFX,

You like "Truck Stop Blues"?

So your initial taking is 20 pips on half of your position? I to have been following this type of MM. Move the other to break even once that is hit. I been rejected a few times though on place my stop right above/below the pivot level. I find it to be a strong signal if a signal is generated right at a S/R level but have been taking outof the trade with the entry candle spiking above the line, only to return to the trend.

If I may ask another question. How much of a break of the line do you consider a realiable break. Below is a chart that I have several breaks with confirmed entry signals. In my pic you will noticed I have removed the HA candles and replaced with ordinary candles. Thanks again for your insight.

Adam
Hi Adam!

Ya I love "Truck Stop Blues" - I think I am in possession of almost every song NOFX has ever put on an album in some form or another.

The money management on what I am doing might look a little sketchy to some and I can certainly understand that - I mean sometimes I may have a 60 pip stop loss with and initial TP of 20 pips - sounds pretty crazy. Here is the way I look at it though: If I am careful like I should be I win close to 9 out of 10 trades. Also there are many of those trades (the majority) where I make more than 20 pips so that seems to make up quite nicely for the trades that fail. Usually when I have a failed trade I can find a reason why I should not have taken it in the first place. This is not always true - some good set up trades just fail.

The other part of your question is actually very well illustrated by the chart you posted. Notice that just prior to the first two yellow areas highlighted there was a candle with a long wick which closed right on the weekly pivot. I would most likely have waited for either a strong break or close above that candle's high to go long.

The next example is much the same. You can see that prior to the yellow highlight there was a candle with a long which that failed to close below the daily pivot. I would have waited for a good break of or close below that candle's low. Another reason I stayed out of this trade last night even after that level was broken is the market indecision - Look at all the candles with small bodies and long wicks in every direction. To me that is a big red flag - market can't decide what to do.

Sure I probably could have made some pips with a large stop and patience but I also could have been whipsawed to death. I prefer to get in and get my business done and get out or at least move my stop to BE and then I can relax and enjoy whatever else happens.

Talk to you later,

NOFX
  • #2,991
  • Nov 19, 2007 9:44am Nov 19, 2007 9:44am
Quoting osaze
I am a newbie n would like 2 know if u can plz give me a very good expert

advisor..I would be very grateful............


And I am also working on an expert advisor with great potentials.......


Would let u all know when its ready.......

thanks
Hi Osaze!

Guess you will have to read a lot in this thread. Then you may find what you are looking for. It needs a bit of mental engagement and you need to understand the underlying concept.

Best Wishes!
Gnat
  • #2,992
  • Edited 10:44am Nov 19, 2007 10:11am | Edited 10:44am
For new traders, can someone update the first post of this thread or create a PDF?

It would save a lot of time from reading through the whole thread.

Wes
  • #2,993
  • Nov 19, 2007 11:20am Nov 19, 2007 11:20am
Quoting wesvista
For new traders, can someone update the first post of this thread or create a PDF?

It would save a lot of time from reading through the whole thread.

Wes
Not sure what to update with as the core system has not changed, only others have made it their own by adding and removing something here and there and with that I'm afraid you will have to read through the thread as I'm not going to write up every possible combination that has been mentioned.
  • #2,994
  • Nov 19, 2007 11:21am Nov 19, 2007 11:21am
Quoting wesvista
For new traders, can someone update the first post of this thread or create a PDF?

It would save a lot of time from reading through the whole thread.

Wes
Hello Wes!

Reading through the entire thread is a great and rewarding experience. I did it myself. I would highly recommend it to anyone new to the thread. You would be surprised how much you can learn with a little effort.

Good trading,

NOFX
  • #2,995
  • Nov 19, 2007 11:25am Nov 19, 2007 11:25am
Quoting cryten
Not sure what to update with as the core system has not changed, only others have made it their own by adding and removing something here and there and with that I'm afraid you will have to read through the thread as I'm not going to write up every possible combination that has been mentioned.
Somehow I feared for something less sensitive when I saw you were online here!
Wes, it is really getting complicated to take the time to categorize the different approaches and schools Supernova has created on the path of improvement. Take a weekend and work yourself into it. It is worth it!

Ciao
Gnat
  • #2,996
  • Nov 19, 2007 11:27am Nov 19, 2007 11:27am
Hey NOFX,

Thanks for your reply. Its all about what feels comfortable to you I guess.

Did you happen to catch the short signal that happened right as price stalled at the daily pivot? Would have been good for at least 85 pips if t/p was set at S1. Anyways, have a good one.

Adam
"Your big opportunity may be right where you are now." Napoleon Hill
  • #2,997
  • Nov 19, 2007 11:39am Nov 19, 2007 11:39am
Quoting TheHefner
Hey NOFX,

Thanks for your reply. Its all about what feels comfortable to you I guess.

Did you happen to catch the short signal that happened right as price stalled at the daily pivot? Would have been good for at least 85 pips if t/p was set at S1. Anyways, have a good one.

Adam
No, I was away and missed that one. I did catch the break of the s1 however but I was unsure of that first big break so I waited to enter until the next candle. +20 on the first half and +10 on the second.

Talk to you later,

NOFX
  • #2,998
  • Nov 19, 2007 3:31pm Nov 19, 2007 3:31pm
Hi all,

Just wanted to add a little on the pivot subject. I have been looking at the various pivot point indicators for MT4 and have come to the conclusion that I will be using the autopivots indicator for now instead of the one I have been using. The main reason for this is that, although the daily pivots for each match up, the autopivot provides weekly and monthly pivots as well which are stronger S/R points.

I would like to give credit to Orion70 and TheHefner for this development. If it would not have been for their questions and observations I probably would not have considered this.

Attached is a copy of this indicator lest anyone missed it in a previous post.

I like the fact that we are all able to learn from each other in this creative thread so lets keep it going. If there is one thing I have learned from trading it is that no one person has all the answers and that a closed mind is a useless mind.

Keep up the good work everybody and good trading to all!

NOFX
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 421 downloads
  • #2,999
  • Nov 19, 2007 3:37pm Nov 19, 2007 3:37pm
Hallo Dogstar!

Thanks for sharing your thoughts here and especially for the good explanation for your change to the new Pivot indie!
It is really late here - so see you all back tomorrow!

G'night!
Gnatdget

Quoting Nofx
Hi all,

Just wanted to add a little on the pivot subject. I have been looking at the various pivot point indicators for MT4 and have come to the conclusion that I will be using the autopivots indicator for now instead of the one I have been using. The main reason for this is that, although the daily pivots for each match up, the autopivot provides weekly and monthly pivots as well which are stronger S/R points.

I would like to give credit to Orion70 and TheHefner for this development. If it would not have been for their questions and observations I probably would not have considered this.

Attached is a copy of this indicator lest anyone missed it in a previous post.

I like the fact that we are all able to learn from each other in this creative thread so lets keep it going. If there is one thing I have learned from trading it is that no one person has all the answers and that a closed mind is a useless mind.

Keep up the good work everybody and good trading to all!

NOFX
  • #3,000
  • Edited 4:49pm Nov 19, 2007 3:43pm | Edited 4:49pm
Sleep well Gnat!

Catch you where the bees buzz. Hope all is well.

NOFX
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