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the key to the mint

  • #941
  • Dec 27, 2007 9:11am Dec 27, 2007 9:11am
hi quess121 i dont trade that one but i just took a look and if all 3 indicators close at the end of this candle it is a signal to go long. take in to acct the time of day things begin to slow down quite a bit
  • #942
  • Dec 27, 2007 9:23am Dec 27, 2007 9:23am
And since your trading times usually ended at 1600GMT (11amEST), one could have profited with GBPCHF from 1300GMT on. The signal were surely there - and what a drop.
  • #943
  • Dec 27, 2007 9:32am Dec 27, 2007 9:32am
yes thats if you took the signals blindly. this one was also in os area and the large spike down is tough but yes it was a win. the whole thing that this method does is eliminate 1 of 2 possibilites to go long or to go short thats the only 2 questions that a trader wants to know and trading this way it takes away half of the thought process and you can trade with a clear mind not trying to get back at the market when you have a loss and go the other way only to be kicked out again. that my friends is chasing the market here we let it come to us well i have to go wife is beckoning see you guys tonight
  • #944
  • Dec 27, 2007 9:34am Dec 27, 2007 9:34am
To the post above mentioning looking at the 0000 hourly candle to determine daily direction.... IT IS NOT THE SAME AS THE DAILY CHART!!

In other words, you will get differing numbers, differing signals. It's all in the math, and you can chase it down if you want, but new day houly numbers ARE NOT the same as new day daily numbers.

So, if you want to stick with the system, you HAVE to use the daily chart for direction, and the hourly for entries. The first entry is the close of the 0600(gmt) candle, which actually occurs at 0700gmt. You can stop looking whenever you like, I have seen both 1600 and 1800 gmt candles as the last candle to look at for a signal (which again, actually occur at 1700 and 1900gmt.... then look at the CLOSE numbers for a possible entry....)
  • #945
  • Dec 27, 2007 9:36am Dec 27, 2007 9:36am
hi harold... yes... I'm in for the short haul... grab pips and run



you are the man... i love this system!

Quoting harold4x
hi quess121 i dont trade that one but i just took a look and if all 3 indicators close at the end of this candle it is a signal to go long. take in to acct the time of day things begin to slow down quite a bit
  • #946
  • Dec 27, 2007 9:51am Dec 27, 2007 9:51am
Quoting mrkam
To the post above mentioning looking at the 0000 hourly candle to determine daily direction.... IT IS NOT THE SAME AS THE DAILY CHART!!

In other words, you will get differing numbers, differing signals. It's all in the math, and you can chase it down if you want, but new day houly numbers ARE NOT the same as new day daily numbers.

So, if you want to stick with the system, you HAVE to use the daily chart for direction, and the hourly for entries. The first entry is the close of the 0600(gmt) candle, which actually occurs at 0700gmt. You can stop looking whenever you like, I have seen both 1600 and 1800 gmt candles as the last candle to look at for a signal (which again, actually occur at 1700 and 1900gmt.... then look at the CLOSE numbers for a possible entry....)
too right, my fault ...
just came back from xmas - what do you expect us to do

daily chart candle closes on 23GMT on Alpari - I confirmed it with them.
cheers
- Syd [dust is my bed...]
  • #947
  • Dec 27, 2007 9:53am Dec 27, 2007 9:53am
yes... it's all starting to make sense!

"well i have to go wife is beckoning"

lol... we all seem to suffer, no matter what part of the world you are in.

Quoting harold4x
yes thats if you took the signals blindly. this one was also in os area and the large spike down is tough but yes it was a win. the whole thing that this method does is eliminate 1 of 2 possibilites to go long or to go short thats the only 2 questions that a trader wants to know and trading this way it takes away half of the thought process and you can trade with a clear mind not trying to get back at the market when you have a loss and go the other way only to be kicked out again. that my friends is chasing the market here we let it come to us well i have to go wife is beckoning see you guys tonight
  • #948
  • Dec 27, 2007 8:36pm Dec 27, 2007 8:36pm
Well It Seems To Be Slim Pickens For Tomorrow There Are 2 Signals Long Eurjpy Which Is Approaching Overbought And Short Gbpchf Which Is Oversold
  • #949
  • Dec 27, 2007 9:16pm Dec 27, 2007 9:16pm
Are There Any Questions Tonight About This Approach To Trading
  • #950
  • Dec 27, 2007 9:22pm Dec 27, 2007 9:22pm
Hi Harold,

I have one

Maybe it is obvious, but it is regarding the stochs and the OB / OS there have been talking about. I assume this is not only on hte daily charts we watch for OB / OS? Meaning if the is a valid signal on the 1 hr, but it is in OB / OS we might back off from trading that pair?

Thanks again,

PC


Quoting harold4x
Are There Any Questions Tonight About This Approach To Trading
Less is more...
  • #951
  • Dec 27, 2007 9:25pm Dec 27, 2007 9:25pm
No The Over Bought Over Sold Is On Daily Only Usually You Will Only Get Ob Or Os After A Move On 1 Hr
  • #952
  • Dec 27, 2007 9:32pm Dec 27, 2007 9:32pm
WELL IF THERES NOT ANYMORE QUESTIONS I WILL BID YOU GOODNIGHT NEXT WEDNESDAY BEGINS MY 8 TH YEAR OF DOING THIS AND IT STILL ISNT BORING HOW ABOUT THAT
  • #953
  • Dec 27, 2007 9:44pm Dec 27, 2007 9:44pm
I have been following this sytem and thread for a couple of weeks now. It even made me add MT4 charting too. I was using Trade Station, but seems useless for this method to coincide with everyone else here. I plan to go live next week or the following week pending new years impact on market movement.

Question for anyone to answer using MT4.

I just started using MT4 and cant find the feature to open a chart for CADJPY. Can someone explain to me how to resolve my issue? (verbal or pics)

Thank you!
  • #954
  • Dec 27, 2007 9:54pm Dec 27, 2007 9:54pm
I too am now using MT4 because of this method. Are you using IBFX as your broker? If so, I don't believe they offer that pair. You might want to get a demo with Northfinance, they have CAD/JPY.
  • #955
  • Dec 27, 2007 9:54pm Dec 27, 2007 9:54pm
Since there are only two signals for tomorrow (long EURJPY and short GBPCHF) and the daily chart shoes them in overbought and oversold per the stoch, how would someone procede trading these two pairs if an entry signal is available?

My first thoughts are:
1. since its friday and if reached +100pips for the week, take the day off and not trade. This would be the conservative approach.
2. reduce target profit from 30 down to 20, 15, or 10 while stop loss still 30-40 range, regardless of in one or two trades at one time?
3. simply stay out due the stock in the overbought or oversold area regardless of gains or losses for the week's total.

I dont know what I would do (lack of experience). So, I am interested in what others have done in the past and would continue to do in the future based on experience with this method.

Kind Regards
Trader4life
  • #956
  • Edited 9:59pm Dec 27, 2007 9:57pm | Edited 9:59pm
Quoting Trader4Life
I just started using MT4 and cant find the feature to open a chart for CADJPY. Can someone explain to me how to resolve my issue? (verbal or pics)
It seems like the pairs available are set by the particular broker. I haven't found one that has CADJPY. Has anyone??? I thought I tried northfinance but do not remember seeing that pair.

I set up a demo account with haroldfx broker RJOFX and they have it but their charts are very different from MT4. Maybe harold can share some of his RJOFX templates and explain how he gets the alerts sent to his phone from there.
  • #957
  • Dec 27, 2007 9:59pm Dec 27, 2007 9:59pm
psymantis

my broker is interactive brokers(IB) and TradeStation.

i only have a demo with ibfx. not sure i will go beyond that with them. IB offers equities, futures, and forex for flexibility.

i do need to evaluate my situation's needs going forward and decide who to use. i dont know at this time other than to use ibfx for demo and execute trades in IB at this time.

I will open a demo in Northfinance and set up their platform to match ibfx signals to get cadjpy. if i got a follow up question, i will email you.

Thanks!
  • #958
  • Dec 27, 2007 9:59pm Dec 27, 2007 9:59pm
Quoting Trader4Life
I have been following this sytem and thread for a couple of weeks now. It even made me add MT4 charting too. I was using Trade Station, but seems useless for this method to coincide with everyone else here. I plan to go live next week or the following week pending new years impact on market movement.

Question for anyone to answer using MT4.

I just started using MT4 and cant find the feature to open a chart for CADJPY. Can someone explain to me how to resolve my issue? (verbal or pics)

Thank you!
See chart...................
Attached Image (click to enlarge)
Click to Enlarge Name: Find Symbol.jpg Size: 43 KB
  • #959
  • Dec 27, 2007 10:04pm Dec 27, 2007 10:04pm
ET,

Thanks for the pic! I do have the 5 of the 6 pairs being followed with this method. for some reason the CADJPY is not on the list in MT4. it won't let me add that symbol to the list either.
  • #960
  • Dec 27, 2007 10:09pm Dec 27, 2007 10:09pm
Trader4life,
I'm using Northfinance for Harold's signals (they have all the pairs) and using Oanda as my broker and it's working out good. So I'm sure you could do the same thing only using Interactive as your broker.
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