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High & Low 8 Hours (GBP/JPY)

  • #1,621
  • Dec 20, 2007 8:10pm Dec 20, 2007 8:10pm
Just wondering what people are doing for todays high. We are basically sitting at the high now. Do we enter a buy now or wait for it to come down a couple more pips
  • #1,622
  • Dec 20, 2007 8:13pm Dec 20, 2007 8:13pm
Did any one take the trade on gbp/jpy??? I have not traded this system that much. The high was the 2:00 gmt candle so i was wondering if that was a no trade or a go.
  • #1,623
  • Dec 20, 2007 8:28pm Dec 20, 2007 8:28pm
wonder how we place our buystop?

Quoting johng75
Just wondering what people are doing for todays high. We are basically sitting at the high now. Do we enter a buy now or wait for it to come down a couple more pips
  • #1,624
  • Dec 20, 2007 8:53pm Dec 20, 2007 8:53pm
What i did is put my buy stop at 225.10.. That is what the last high was at. It allso hit its resistance level at the same time. so if it do's go above that then ima it will continue to move up.
  • #1,625
  • Dec 20, 2007 9:33pm Dec 20, 2007 9:33pm
Quoting Fx97
Pavatar,
Are you using the time frame given below as posted by Saaedb. See how TP value is different. Have you been successful by setting the TP to 80? How is it working out for you?

Here are my understanding for other pairs posted in this thread. I think after some brainstorming we can make it pdf file and post here.

GBPJPY (As originally posted by Nicotina)
SL : 50
TP : 100
MAX RANGE : No limit
RangeStart : 18 GMT
RangeEnd : 2 GMT
NumberOfResets : 2

EURJPY
SL : 40
TP : 40
MAX RANGE : 80
RangeStart : 21 GMT
RangeEnd : 5 GMT
NumberOfResets : 1

EURUSD
SL : 40
TP : 40
MAX RANGE : 80
RangeStart : 21 GMT
RangeEnd : 5 GMT
NumberOfResets : 1

GBPUSD
SL : 40
TP : 40
MAX RANGE : 80
RangeStart : 23 GMT
RangeEnd : 7 GMT
NumberOfResets : 1

Hi Fx97 -

I use Nicotina's setting for GBP/JPY and saaedb's setting for the other pairs. However, the particular day in my post that you quoted I was testing an idea and forgot to change my TP for the EURJPY back to my normal setting. My normal setting is TP = 40 for EUR/JPY but got lucky that day when I forgot to change it back. I had it set to TP = 80 and it happen to hit. Given I wasn't using the normal setting, I should not have posted the result that day because it only causes confusion - sorry about that!

I do not trade the EUR/USD using this method.

Pavatar
  • #1,626
  • Dec 20, 2007 10:22pm Dec 20, 2007 10:22pm
Quoting Pavatar
Hi Fx97 -

I use Nicotina's setting for GBP/JPY and saaedb's setting for the other pairs. However, the particular day in my post that you quoted I was testing an idea and forgot to change my TP for the EURJPY back to my normal setting. My normal setting is TP = 40 for EUR/JPY but got lucky that day when I forgot to change it back. I had it set to TP = 80 and it happen to hit. Given I wasn't using the normal setting, I should not have posted the result that day because it only causes confusion - sorry about that!

I do not trade the EUR/USD using this method.

Pavatar
Thanks for clarifying..
  • #1,627
  • Edited 11:34pm Dec 20, 2007 10:30pm | Edited 11:34pm
Quoting Ibuks
Hi Saaedb,

Thank you for the good work done.

I downloaded the ea, attached to a chart but the ea was still not enabled. Can it be that it is not downloading properly?

What I noticed is that after download, the metaqoutes language sign disappears...and only shows a .ex4 file with no sign.

Your help will be appreciated.

Do you even bother to read the thread? I just responded to someone else with almost a similar question.

please read http://www.forexfactory.com/showpost...&postcount=889

and next time try to read the thread before asking. If people keep being lazy like this, I'm going to have to quit this thread.
  • #1,628
  • Dec 20, 2007 10:44pm Dec 20, 2007 10:44pm
Quoting gopipsgo
Did any one take the trade on gbp/jpy??? I have not traded this system that much. The high was the 2:00 gmt candle so i was wondering if that was a no trade or a go.
Hi gopipsgo and a couple of others with similar questions.

High = 224.69
Low = 223.76


Since I am using a demo account to test this system, its a 'go'. Your entry price would depend on your 'style' of trading. Considering your entry price today for a buy order for example: 1) you could simply set your entry at today's high (in my case 224.69); or 2) your entry price could be today's high plus your brokers spread for this pair (in my case 224.69 + 0.09 = 224.78); or your entry price could be today's high plus your brokers spread plus a buffer (in saaedb's EA, the buffer's default value is 10, therefore, the entry price would be 224.69 + 0.10 + 0.09 = 224.88); or .......etc. Therefore depending on your entry price, you would have to chose an order type stop, limit, market, etc) which allowed you to get into the trade.

Some of these possibilities may not be an option for you today depending on your brokers requirements for the difference between the price at the time you place your order and your desired entry price - in my case, the broker requires a difference of 5 pips for the order to be placed.

saaedb's EA has a parameter which allows you to chose to set limit orders (today may have been a good example of using this parameter to get you into the trade depending on your trading style).

I believe Nicotina does not use a buffer and does not worry about the spread - he sets his TP = 100 above the day's high (for a buy order). If his brokers spread for the GBP/JPY spread was 7, then if his TP was hit, he would net 93 pips for the trade.

Hope this helps

Pavatar
  • #1,629
  • Dec 20, 2007 11:24pm Dec 20, 2007 11:24pm
Quoting saaedb
Do you even bother to read the thread? I just responded to someone else with almost a similar question.

please read http://www.forexfactory.com/showpost...&postcount=889

and next time try to read the thread before answering. If people keep being lazy like this, I'm going to have to quit this thread.
Come on man we cannot afford to loose you

And agree with him, please try to read first.
  • #1,630
  • Dec 21, 2007 12:37am Dec 21, 2007 12:37am
Please do me a favor: you posted a number of different runs based on this strategy a couple of weeks ago.

The most interesting comparison for me was between the original strategy posted by Nico and your run number 10. It looks like the only difference is that on run number 10, if you got stopped out of the first trade, you quit for the night. This strategy looks like it would have made a little more money over the last 12 months than Nico's original.

Am i right that that was the only difference? If so, run 10's parameters could actually double your profits, since the total risk each night is half of what Nico's strategy risked, e.g. 50 pips vs. 100 pips total risk. But run 10 has at least as much profit, using the same number of lots as Nico's strategy.

Since run 10 has half the risk, you should be able to double your lot size over Nico's strategy, without increasing the risk. Therefore, you should be able to use the run 10 stategy with double the lots, therefore doubling the profits of Nico's original system.

Can you verify this and run the test? I can only do it manually from here but it could be a significant breakthrough for this already great strategy.

Peace, Greg
  • #1,631
  • Dec 21, 2007 2:10am Dec 21, 2007 2:10am
Hi Saaedb,
I would like to use your great EA on acc, which is +2 hour moved from Interbank FX.. So for cable, I put in range start 1 and range end 9.
In comments, it says Conditions for new range Calc is = 1.. What does that mean please?
Of course it doesn't open any orders, that's my original problem.

(i have another acc on Interbank, and have set up the same range (23, 7) and orders are already placed).

Thanks for your efforts.
Endy
  • #1,632
  • Dec 21, 2007 3:08am Dec 21, 2007 3:08am
BUY STOP 224.84
SELL STOP 223.76

I hope, Im not to late for today
  • #1,633
  • Dec 21, 2007 4:06am Dec 21, 2007 4:06am
gbp/jpy

High224.84
Low223.62 in trade now

eur/jpy

High 162.32 +40
Low161.73


What was your high low for eur/jpy?
  • #1,634
  • Dec 21, 2007 4:17am Dec 21, 2007 4:17am
Quoting smurf
gbp/jpy

High224.84
Low223.62 in trade now

eur/jpy

High 162.32 +40
Low161.73


What was your high low for eur/jpy?
mate my high was 162.57 and low was 161.94 these are ask rates. Why is it different does someone know?
BK
  • #1,635
  • Dec 21, 2007 4:28am Dec 21, 2007 4:28am
Quoting saaedb
for Ken8888 & ES Trader

http://www.forexfactory.com/showpost...&postcount=889
thanks my bro...
managed to get it work!!
it just that the alert keep on pop up with sound. but it's ok i guess.
  • #1,636
  • Dec 21, 2007 5:19am Dec 21, 2007 5:19am
Many thanks to all of those who have made such a huge contribtuion to this thread not least saaedb for your invaluable EA contribution. May I suggest a summary page on page one perhaps with the latest EA, trading tips and settings. It would be useful to have one overall reference page. That obviously doesn't mean you should avoid reading the whole thread which has invaluable advice thoughout.

Has anyone noted any advantage with trading the 'set and forget' set to false rather than true?

Thanks again!
  • #1,637
  • Dec 21, 2007 7:35am Dec 21, 2007 7:35am
Anyone trading nicotina today?
"People sometimes mistake luck with skill"
  • #1,638
  • Dec 21, 2007 7:53am Dec 21, 2007 7:53am
Quoting 20pips
Anyone trading nicotina today?
Yes
Buy order @ 224.84

I need to know what is the exact time for GBP/JPY to place the orders, in addition to EUR/JPY and GBP/USD, also the TP and SL according to Nicotina's strategy, since I've found too many people placing different time and different TP & SL

Which is the best to follow nico or other people's setup? (Time+TP+SL)
  • #1,639
  • Dec 21, 2007 8:01am Dec 21, 2007 8:01am
I can see cesarnc here on this thread posting, happy to see you around again
  • #1,640
  • Dec 21, 2007 8:03am Dec 21, 2007 8:03am
+100 pips reached (buy @ 224.84 TP 225.84)
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