the key to the mint

well i got out of this trade with a 22 pip loss plus spread -30 total i will come back later and have a go at it again

Looks like we finally have some movement in the market. And maybe a set up with the GBP/CHF.

I've got a question for anyone who wants to answer it.......When do you want to see the emas cross? At the end of the 1hr candle or the beginning of the next candle? Minor detail but any feedback will help.

martin
I would until the candle is finished,
becareful with GC 1hr is looking ok, but daily is looking very overbought, if you are going in just grab a few pips

I was thinking the same thing with that pair. I also have a large pip spread with that pair.

Croeses:

I was also looking at the lsma indicator, that you posted on this thread, with the GBP/CHF. What is your take even if the stoch. is overbought. I am still trying to get a handle on that indicator.

martin
ideally you want the isma to be at the 90 or 10 level of the shocs before you enter the trade,
when the shocs start to turn (same direction as the isma) and the isma turns green for buy or red for a sell, then I would enter,
but as long as all the criteria is met with the ema`s crossing and the rsi is above / below 50, you just need to practice a little while

Thanks Croeses! I appreciate your help!

martin
sorry forgot, you need to set the Rperiod to 10

OK, done deal. Can you explain what the difference is? I like to how an indicator works. Just for my own comfort level.

martin
"what the difference is", what do you mean??
thought I explained how it works in previous post,
once it gets to 90 or 10 (this is the level I have the shocs at) with the shocs, its going to go down / up theres now dought about it, set your trade there, as long as it meets all the other criteria
have a look back on 1hr TF when they are both at the top or bottom,
exit is normally the first (shocs or isma) to reach the opposite to the 90/10 level

take a look at cad/jpy,
you have shocs and isma at the bottom, also its bounced off the bottom BB, now wait for everything else to line up

Croeses:

On the indicator you told me to set the Rperiod to 10. Why? Why not leave it at 5. That is the difference I am talking about. On the CAD/JPY example does BB mean Bollinger Band? I don't remember Harold ever talking about BB's in his system.

martin
you may leave isma @ 5 but the 10 smoothes it out, BB is just another tool to use, again you dont have to use if you dont want,
for me its further conformation where the markets going

For the sake of reducing confusion, lets stick to one type of trading system per thread.

ok, whatever you say boss

GBP/CHF daily revealed a buy signal on daily chart and just a few hours ago, the buy signal on 1H time frame emerged. I bought at the opening of the candle at 2.3319 and set TP of 20 pips since I wasn't there to watch the market price. On closer examination you can see that the price has plummeted.

morning all yes burt i did like you did i had an alarm wakeup and i stumbled out of bed put trade on set target for 30 and went to sleep just ecked it out

on my brokers platform i have examined cad/jpy and i am experimenting of adding it to my arsenal its not posted in ibfx but this paire like the others meets my critiria of 120+ range per day so here is the pairs again gbpusd,gbpjpy,gbpchf,eurcad eurjpy,cadjpy

Harold:

Just a question about your alerter. Do you have a special one or does it have to hit a price before it rings your phone?

when the emas cross it rings and alerts me of a change i have one for rsi cross also