the key to the mint

For some reason I can not find the cadjpy on my market watch. I am using ibfx.

ibfx doesnt have cadjpy down load a demo from northfinace they have it my broker has all the currency pairs from a-z

Thank you

Your trading live right?

i trade live for a living hopefully thats what you mean i start to put trades on with the close of the 600 gmt candle

Ok thanks for the information I was trading live successfully,but i decided to quit while I was a head because I had no reason why I was making the trades. So I consider myself lucky, but I may take a couple of live trades tonight using this system.

if one doesnt know why he is putting on trades then he for all intentions is gambling and it was a good move to stop. this system there is a reason firstly we are attempting to trade with the daily trend and second rule is same as first trading with the daily trend once you know the daily trend then you know why you are putting on trades

Yes exactly! I have read from so many traders to never trade against the trend.

as long as you stick to that plan of the trade only thing left to do is trade the plan the interesting thing that people are aware of but experiencialy are not aware of is the price can go in 1 of 2 directions and the lure of the market is to try and chase the market and then you find yourself trapped in countertrends and what have you. so if we can determine direction on daily we eliminate the chasing and only are left with 1 decision to put on trade in 1 direction it makes it easier to think as well as being relaxed when you trade now this by no means there wont be losses but on the other hand there is a high win loss ratio and thats what counts. its all a numbers game put on 100 trades and be right 74% of time means 74 wins at 30 pips total is 2210 pips minus 26 30 pip losses at 780 leaving you with 1430 pips or $14300 if you did not increase lot size these of course are hypothetical but realistic numbers and comparible to what i am doing

I get confused where to set my tp and sl. I am also trying to learn how the news and the indicators meet. Sometimes the indicators can show a long signal for example when the news is release it will go the opposite way.

harold, thanks for your "signals for tomorrow" they provide a useful cross-check for my own chart reading good job on presenting the method, bob

ok here it is again my stoploss ranges from 30-40 pips i use the closed candle on the 1 hour chart that triggered my entry so if its a long i put stop 1 pip below that candle and if its a sell 1 pip above the high of that candle. now if the stop is less than 30 pips i just make it 30 sometimes its 40 thats ok also on gbpjpy make it 50 target for me is 30 and gbpjpy 50 also if you are in a trade and one of the indicators when the candle closes crosses in opposite direction close trade immediatley

so stich what do you mean chart reading

Earlier this evening you indicated a short for gbp/jpy. i am with ifx and use their itfinance charts. it is now 9:15 pm est and my 8,3,3, stoch has not yet crossed down. Any suggestions as to why that might be?
Thanks.

just watching our indicators ema's rsi & stocs i'm trading the mint. bob

Harold4X, Your system and explanation have been great, thank you. I read where you stated you look only for 30 to 50 pips per trade, why not more as some of these trades have run for far more which makes RR ratio better. Just curious, thnks.

fx pivots if you look at closed daily candle on ibfx and put data window on left and take crosshairs and put it on the candle you will see all indicators crossed. the reason i go for 30 to 50 is not trying to get 100% of move just 30 to 50% of given move heres gbpjpy chart

mikep i sent you a pm did you get it

hi harold4x - yes i did, but I'm still under the 15 post mark.

I'm already working on an ea - I just started testing tonight. Like the indicator, nothing too fancy, as it still needs input for the daily trend to take trades (that's still a mystery to me).

Send me your email address via PM and we can iron out any bugs prior to releasing a pile of updated versions here - this would at least keep the thread clean and less cluttered for new people to the strategy.

Hi Harold4x - yes I did, nut I'm still under the 15 post mark.

I'm already working on an ea - I just started testing it tonight. Like the indicator, nothing too fancy, as it still needs input for the daily trend to take trades (that issue is still a mystery to me).

Send me your email address via PM and we can iron out any bugs prior to releasing a pile of updated versions here - that would at least keep the thread clean and less cluttered for the new people to the strategy.

harold4x- i put the crosshairs on the daily candle and it indicated the stoch did not cross down. However, when i changed the "method" setting from normal to exponential it was quite clear the stoch had crossed(down). What setting are you using?