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the key to the mint

  • #921
  • Dec 26, 2007 5:38pm Dec 26, 2007 5:38pm
The "already discussed" reference was to a post a couple of weeks ago (I think?) where H4X mentioned a couple of signals that he would not be trading because the Stochs were oversold... but that is pure discretion, and not a formal part of "the system".

As I understand it, the System as presented here is just a framework within which to apply your own discretion. It is in essence an entry signal system. You can exit how you chose. What is provided here as a "framework" within which to trade is 30p TP/SL, (50p for GJ)... but again, these targets are not "the system".

In light of that, I believe the answer to your Stoch question is yes, .... and no....

Some may trade this system mechanically, taking every signal at 30p SL/TP (or 50...), and that in itself is discretion!!!

Good question, and great discussion.... Good success to all...
  • #922
  • Dec 26, 2007 8:48pm Dec 26, 2007 8:48pm
Lots And Lots Of Questions. I Wrote A Piece In Post 884 Discribing Which Signals Are Better Than Others. Good Imput Mrkam. When I Post The Stoc Or Rsi Is In Overbought Or Oversold Areas It Means Just That If There Is Another Signal Thats Not I Would Take That One Instead. For Instance The Signals For Tomorrow Are As Follows Long Eurjpy And Cadjpy This One Is In Overbought Area But If Eurjpy Gives Us A Signal I Would Take The Cadjpy Along For The Ride Based On Correlations That Is The Jpy Would Be Weakening. With That Said The Eurcad Is A Sell Which Is Interesting Since Its In Oversold Area Signals Also Include Gbpusd And Gbpchf Shorts Both Are In Oversold Areas Use Discretion In Picking One.
  • #923
  • Dec 27, 2007 5:30am Dec 27, 2007 5:30am
Ok..

Am long on EURJPY...

Though big barrier coming up 166.00 mark... do not too sure if I should bail out there...

What do you do there Harold, at big numbers? You ignore them?

Quoting harold4x
Lots And Lots Of Questions. I Wrote A Piece In Post 884 Discribing Which Signals Are Better Than Others. Good Imput Mrkam. When I Post The Stoc Or Rsi Is In Overbought Or Oversold Areas It Means Just That If There Is Another Signal Thats Not I Would Take That One Instead. For Instance The Signals For Tomorrow Are As Follows Long Eurjpy And Cadjpy This One Is In Overbought Area But If Eurjpy Gives Us A Signal I Would Take The Cadjpy Along For The Ride Based On Correlations That Is The Jpy Would Be Weakening. With That Said The Eurcad Is A Sell Which Is Interesting Since Its In Oversold Area Signals Also Include Gbpusd And Gbpchf Shorts Both Are In Oversold Areas Use Discretion In Picking One.
  • #924
  • Dec 27, 2007 6:03am Dec 27, 2007 6:03am
I was stupid!!!

Stick to the mint rules...

lost out on spread... twice... as closed and re-opened another positition though 20 pips in the plus - 8 pips on spread

profit is a profit.. one trade like this would do me per day!

Quoting guess121
Ok..

Am long on EURJPY...

Though big barrier coming up 166.00 mark... do not too sure if I should bail out there...

What do you do there Harold, at big numbers? You ignore them?
  • #925
  • Dec 27, 2007 6:37am Dec 27, 2007 6:37am
Damn...

EURJPY and USDJPY went through the roof... didn't have enough margin to open USDJPY... ohh well, always a next time.

Quoting guess121
I was stupid!!!

Stick to the mint rules...

lost out on spread... twice... as closed and re-opened another positition though 20 pips in the plus - 8 pips on spread

profit is a profit.. one trade like this would do me per day!
  • #926
  • Dec 27, 2007 6:54am Dec 27, 2007 6:54am
Quoting guess121
Damn...

EURJPY and USDJPY went through the roof... didn't have enough margin to open USDJPY... ohh well, always a next time.

Dont be too hard on yourself Guess 121, this forum is extremely quiet tonight ,I would guesstimate that there are a few more in the same position as you and me also..... I am 31 pips down to greed really, I should have been happy with 25 + pips ...but noooo I left the scene for a break and it cost me 31 pips....thats life I will pick them up at news time in 35 mins....
  • #927
  • Dec 27, 2007 7:04am Dec 27, 2007 7:04am
Think about this, all you need is 5-10 pips per day, compounded, from this system and within a year you'll be very well off.
  • #928
  • Dec 27, 2007 7:04am Dec 27, 2007 7:04am
Guys, Looked like a SHORT call but what happened later .... what went wrong?

By the way I use Alpari and they are GMT + 1 so 7GMT is infact 6GMT... hope that isnt causing confusion!
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- Syd [dust is my bed...]
  • #929
  • Dec 27, 2007 7:17am Dec 27, 2007 7:17am
lotv...

Yes you made me look on the bright side of life



We live to fight another day!

Quoting lotv
Dont be too hard on yourself Guess 121, this forum is extremely quiet tonight ,I would guesstimate that there are a few more in the same position as you and me also..... I am 31 pips down to greed really, I should have been happy with 25 + pips ...but noooo I left the scene for a break and it cost me 31 pips....thats life I will pick them up at news time in 35 mins....
  • #930
  • Dec 27, 2007 7:19am Dec 27, 2007 7:19am
I know, that's what I am thinking... don't want to get greedy, if I can do around 20 pips per day... hey I am a happy man!

My account is not great, but will grow steady if I am not impaitent!

Quoting Dave1
Think about this, all you need is 5-10 pips per day, compounded, from this system and within a year you'll be very well off.
  • #931
  • Dec 27, 2007 7:20am Dec 27, 2007 7:20am
You wanted to take the trade in the opposite direction... day previous day is up therefore you should be looking for up entries on the the hour, like a few bars later.



Quoting syedks
Guys, Looked like a SHORT call but what happened later .... what went wrong?

By the way I use Alpari and they are GMT + 1 so 7GMT is infact 6GMT... hope that isnt causing confusion!
  • #932
  • Dec 27, 2007 7:28am Dec 27, 2007 7:28am
Quoting guess121
You wanted to take the trade in the opposite direction... day previous day is up therefore you should be looking for up entries on the the hour, like a few bars later.

you are right - so whats the deal of looking at 6GMT bar????
- Syd [dust is my bed...]
  • #933
  • Edited 9:17am Dec 27, 2007 8:49am | Edited 9:17am
looks like it was a tough night as i mentioned last night 4 of 5 signals were in over bought or oversold regions the only one that was not was eurjpy. i did mention that if signal on eurjpy came and cadjpy came at same time i would take both that never happened so i just played the eurjpy. at close of 600 gmt candle there was a signal to go long at 165.64/68 2 hours latter after the candle closed the stoc was crossed so i exited at 165.48 for a -20 2 hours latter i got another signal on eurjpy and got 40 so total for today +20 not a very great day but what do you expect at this time of year
  • #934
  • Dec 27, 2007 8:50am Dec 27, 2007 8:50am
Quoting syedks
Guys, Looked like a SHORT call but what happened later .... what went wrong?

By the way I use Alpari and they are GMT + 1 so 7GMT is infact 6GMT... hope that isnt causing confusion!
USD/JPY is not one of the six pairs that harold4x trades using this system.
  • #935
  • Dec 27, 2007 8:52am Dec 27, 2007 8:52am
Quoting harold4x
looks like it was a tough night as i mentioned last night 4 of 5 signals were in over bought or oversold regions the only one that was not was eurjpy. i did mention that if signal on eurjpy came and cadjpy came at same time i would take both that never happened so i just played the eurjpy. at close of 600 gmt candle there was a signal tp go long at 165.64/68 2 hours latter the after the candle closed the stoc was crossed so i exited at 165.48 for a -20 2 hours latter i got another signal on eurjpy and got 40 so total for today +20 not a very great day but what do you expect at this time of year
harold, whats the importance of 06GMT candle??
- Syd [dust is my bed...]
  • #936
  • Dec 27, 2007 8:54am Dec 27, 2007 8:54am
that is when i begin to look for trades its 2 am est where i am thats all and i guess its 7 am in london
  • #937
  • Dec 27, 2007 8:58am Dec 27, 2007 8:58am
Quoting harold4x
that is when i begin to look for trades its 2 am est where i am thats all and i guess its 7 am in london
ic ... but end of the day candle is important, regardless of what time you look for trades? that means for me i must look at 00GMT (which is in fact 23GMT on alpari) for signals.

thanks
- Syd [dust is my bed...]
  • #938
  • Dec 27, 2007 9:03am Dec 27, 2007 9:03am
yes that part shouldnt matter at end of day we see where indicators are and if they are going same way also seeing if overbought and oversold
  • #939
  • Dec 27, 2007 9:06am Dec 27, 2007 9:06am
hey harold... the man himself... yes a tough day today for sure... I am waiting on AUDJPY... it is firing at the moment, so wait for the candle to close and see where we are



Quoting harold4x
looks like it was a tough night as i mentioned last night 4 of 5 signals were in over bought or oversold regions the only one that was not was eurjpy. i did mention that if signal on eurjpy came and cadjpy came at same time i would take both that never happened so i just played the eurjpy. at close of 600 gmt candle there was a signal to go long at 165.64/68 2 hours latter the after the candle closed the stoc was crossed so i exited at 165.48 for a -20 2 hours latter i got another signal on eurjpy and got 40 so total for today +20 not a very great day but what do you expect at this time of year
  • #940
  • Dec 27, 2007 9:07am Dec 27, 2007 9:07am
if we took the signals blindly ( i dont recommend especially when there were 4 of them in ob and os areas) gbpchf would have have 1 loss and 1 win and cadjpy would have had 1 win barely
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