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sma 21 trading method

  • #41
  • Dec 30, 2007 7:09pm Dec 30, 2007 7:09pm
Go ahead and look at the 8 hour thread, why did it go so badly?
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  • #42
  • Dec 30, 2007 7:32pm Dec 30, 2007 7:32pm
Quoting Oksana17
Go ahead and look at the 8 hour thread, why did it go so badly?
Can't look at an 8 hour, but can call up a 4h chart. There is a clear sell signal on the 17th that would have been stopped out quite quickly using the sl of previous candlestick +5. The following day, the price tumbled and would have resulted in about +600 for anybody clearsighted enough to sell at the top and buy back at the bottom.

This is suggesting to me that this strategy works better on longer tf's and with deeper sl's. Of course, it helps that the demo trade I opened earlier is +105 right now.

I wish live trading was as easy as demo trading.

  • #43
  • Dec 30, 2007 7:49pm Dec 30, 2007 7:49pm
Again, I can't help myself.

Looking at the 4h chart, the price hit a clear double-bottom a few minutes ago, just short of my imagined support point, and started to retrace.

I say, "imagined" because I got the keying wrong and set up the wrong tp. I set up 223.30, not 223.50. What a jerk. I am not safe to be let out alone.

I have no idea whether this retrace will turn into a substantial bounce back that will take out my trade at just a few pips profit. What I do know is this: it is 1.42 am GMT and I would not want to spend the night wondering what was happening, were this a live trade.

So, I have set a +50 sl and will refuse to cry if my should-have-been +130 turns into +50. +50 aint bad, after all.

Memo to myself: don't enter orders after a few drinks cos you will hit some wrong keys.

  • #44
  • Dec 30, 2007 8:02pm Dec 30, 2007 8:02pm
Quoting SteveHopwood
Again, I can't help myself.

Looking at the 4h chart, the price hit a clear double-bottom a few minutes ago, just short of my imagined support point, and started to retrace.

I say, "imagined" because I got the keying wrong and set up the wrong tp. I set up 223.30, not 223.50. What a jerk. I am not safe to be let out alone.

I have no idea whether this retrace will turn into a substantial bounce back that will take out my trade at just a few pips profit. What I do know is this: it is 1.42 am GMT and I would not want to spend the night wondering what was happening, were this a live trade.

So, I have set a +50 sl and will refuse to cry if my should-have-been +130 turns into +50. +50 aint bad, after all.

Memo to myself: don't enter orders after a few drinks cos you will hit some wrong keys.

lol.
Yeah, don't enter orders after a few drinks.
Anyway, when I said 8 hour thread, I meant the other thread, the
"8 hour GBP/JPY" thread, the other THREAD not timeframe, THREAD, that we were talkin in too.
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  • #45
  • Dec 30, 2007 8:05pm Dec 30, 2007 8:05pm
I'll start on the EA.
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  • #46
  • Dec 30, 2007 8:23pm Dec 30, 2007 8:23pm
Steve,
when u say to exit when price retraces to 21sma after trade, can u please be more specific?

what if it retraces then next bar? Does it have to touch the 21sma exactly or break it x # of pips?

Thanks Steve,
Oksana.
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  • #47
  • Dec 30, 2007 8:42pm Dec 30, 2007 8:42pm
Also,
Steve,

what if the price closes>MA, but not the same time as the AO when it turns green?


How much time can pass until that woudn't work?
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  • #48
  • Dec 30, 2007 9:03pm Dec 30, 2007 9:03pm
SteveHopwood

where are u steve..
Oksana need your feedback..

EA is on the making!!

all d best oksana!!
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  • #49
  • Edited 9:24pm Dec 30, 2007 9:14pm | Edited 9:24pm
thnx popisdead

look what i ran into. i thinking something is wrong w/ north finance!!!

EDIT: Nevermind
2nd EDIT: Nevermind, Nevermind, I was right the first time
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  • #50
  • Dec 30, 2007 9:25pm Dec 30, 2007 9:25pm
All I need left in the EA is to let my questions be answered, the exit rule, and i'm done with the EA.
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  • #51
  • Dec 30, 2007 11:57pm Dec 30, 2007 11:57pm
Anyone out there?
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  • #52
  • Dec 31, 2007 12:42am Dec 31, 2007 12:42am
I think there might be a basic misunderstanding about the exit strategy.

If you look at Post #3, PQ has drawn a trendline and he is using that as his exit point. Also, in Post #10, he states that the trendline is his exit.

Someone please correct me if I am wrong but I don't see where he ever says touching the sma is a rule for exit.
  • #53
  • Dec 31, 2007 3:20am Dec 31, 2007 3:20am
Quoting Oksana17
Anyone out there?
Sorry about that - I had gone to bed.

It looks as though I was wrong about the exit point, as Orion70 pointed out. The exit point is when the price touches the trendline.

That this pairing is so volatile must be what has made this strategy so profitable for powerforex. Trading in the direction of the trend means hundreds of pips; trading a retrace can result in the sort of trade I took last night. I saw this morning that I had made my +130 - nice.

Thanks for starting the EA. I have no idea how to calculate the trend direction from within and ea, so i shall be in awe of you if you can do this.

Cheers

  • #54
  • Dec 31, 2007 4:02am Dec 31, 2007 4:02am
I would think the color of the AO matters, and would not stand alone just using the 21 SMA. If it did not matter, why even need the AO on the chart, it gives you an indication whether to go long [green] or short [red] as a confirmation.
  • #55
  • Dec 31, 2007 6:47am Dec 31, 2007 6:47am
Quoting johnedoe
this is a good system .... but like any system you must exercise discipline ...
here is another and very similar system.....
http://www.forexfactory.com/showthread.php?t=62071
hello
thansk for sharing this method
  • #56
  • Dec 31, 2007 10:59am Dec 31, 2007 10:59am
Quoting SteveHopwood
Sorry about that - I had gone to bed.

Thanks for starting the EA. I have no idea how to calculate the trend direction from within and ea, so i shall be in awe of you if you can do this.

Cheers

Do you think it could work with the Mouteki TDTL ?
  • #57
  • Dec 31, 2007 11:43am Dec 31, 2007 11:43am
I have been having some profitable fun with the gj pairing lately.

There is a brilliant breakout strategy posted originally by NicoTina at http://www.forexfactory.com/showthread.php?t=51365

Saaedb wrote an ea to automate the trades - I have attached that because it is not so easy to find. Put the ea on a 1H chart, adjust RangeStart, RangeEnd and CandleClose to your own broker time then just sit back and watch.

It is well worth ploughing through the entire thread; settle in for a long, but ultimately profitable, read.

Happy New Year everyone.


Attached File(s)
File Type: ex4 NicoTinaBreakOut.ex4   25 KB | 424 downloads
  • #58
  • Dec 31, 2007 1:09pm Dec 31, 2007 1:09pm
Quoting SteveHopwood
I have been having some profitable fun with the gj pairing lately.

There is a brilliant breakout strategy posted originally by NicoTina at http://www.forexfactory.com/showthread.php?t=51365

Saaedb wrote an ea to automate the trades - I have attached that because it is not so easy to find. Put the ea on a 1H chart, adjust RangeStart, RangeEnd and CandleClose to your own broker time then just sit back and watch.

It is well worth ploughing through the entire thread; settle in for a long, but ultimately profitable, read.

Happy New Year everyone.


what does RangeStart, RangeEnd, and CandleClose mean?

I think it's kinda hard to code trendlines, everyone draws it differently, so, what should we do? Just Alert when a trade happens? And exit manually? Or TP on SR's, I know how to code that, I just need exact rules to define an SR, 3 higher lows on both sides of the SR, something like that.
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  • #59
  • Dec 31, 2007 1:30pm Dec 31, 2007 1:30pm
Quoting Oksana17
what does RangeStart, RangeEnd, and CandleClose mean?

I think it's kinda hard to code trendlines, everyone draws it differently, so, what should we do? Just Alert when a trade happens? And exit manually? Or TP on SR's, I know how to code that, I just need exact rules to define an SR, 3 higher lows on both sides of the SR, something like that.
In the Mouteki thread, there is a program which will draw the trendlines [can be found in ForexFactory]. As for SR, I think you should use Super S/R program to do that [can be found in FxFisherman].
  • #60
  • Dec 31, 2007 1:56pm Dec 31, 2007 1:56pm
Quoting et_phonehome_2
In the Mouteki thread, there is a program which will draw the trendlines [can be found in ForexFactory]. As for SR, I think you should use Super S/R program to do that [can be found in FxFisherman].
Can u post it?
What does every1 else think?
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