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High & Low 8 Hours (GBP/JPY)

  • #2,081
  • Jan 9, 2008 4:17am Jan 9, 2008 4:17am
My buy order was not executed either because I do not place it at the bid. I have the top of the 8 hour at being 216.47 so I place my buy at 216.55 after accounting for the spread. You need to take into account the spread for the buy side plus 1 pip but for the sell it's ok to sell at the bid minus 1 pip.

This should protect as your limit order only gets activated when the high or low of the 8 hour is truly broken. Hope this helps.

By the way, my short is now in play. Only problem I see today is the wide range prior to the trade.
  • #2,082
  • Jan 9, 2008 4:33am Jan 9, 2008 4:33am
Quoting PipStar
My buy order was not executed either because I do not place it at the bid. I have the top of the 8 hour at being 216.47 so I place my buy at 216.55 after accounting for the spread. You need to take into account the spread for the buy side plus 1 pip but for the sell it's ok to sell at the bid minus 1 pip.

This should protect as your limit order only gets activated when the high or low of the 8 hour is truly broken. Hope this helps.

By the way, my short is now in play. Only problem I see today is the wide range prior to the trade.
Gj is moving only via GU, which is not a good idea since this doesn't reflect the carry trades (via Yen).

And UJ is being a buy during Asia (investors seeking higher yields) and a sell in the NY session.

As long as UJ stays in this 109 area, we won't have a strong direction that provides consistency to this strategy
  • #2,083
  • Edited 5:16am Jan 9, 2008 4:38am | Edited 5:16am
Quoting PipStar
My buy order was not executed either because I do not place it at the bid. I have the top of the 8 hour at being 216.47 so I place my buy at 216.55 after accounting for the spread. You need to take into account the spread for the buy side plus 1 pip but for the sell it's ok to sell at the bid minus 1 pip.

This should protect as your limit order only gets activated when the high or low of the 8 hour is truly broken. Hope this helps.

By the way, my short is now in play. Only problem I see today is the wide range prior to the trade.
thanks bro for explain can i do the same for other pairs i mean EU/US EU/JP GB/US
TO TAKE THE SPREAD IN MY ACCOUNT IN ENTRY
  • #2,084
  • Jan 9, 2008 5:15am Jan 9, 2008 5:15am
Long did not trigger for me too, upper level was 216.46 price moved to 44 and retreated
Regards
  • #2,085
  • Jan 9, 2008 5:16am Jan 9, 2008 5:16am
Both stop hit
Today -100
Thats all for today
Theres' light at the end of the tunnel....
  • #2,086
  • Jan 9, 2008 5:18am Jan 9, 2008 5:18am
Quoting hisham_gho
thanks bro for explain can i do the same other i mean EU/US EU/JP GB/US
TO TAKE THE SPREAD IN MY ACCOUNT IN ENTRY
I suppose it's a discretionary thing as to what you do. For me it makes sense. I think that Nicotina's system is great as it is but as a trader we all make these decisions individually.
  • #2,087
  • Jan 9, 2008 6:01am Jan 9, 2008 6:01am
Mine is a -100 day too.

On the demo, using 100 sl and no reentry, the trade is still open.

  • #2,088
  • Jan 9, 2008 6:20am Jan 9, 2008 6:20am
Quoting kusniagos
Both stop hit
Today -100
Thats all for today
Not intending to convince you of anything, as you should choose what fits you better.

But I'm also trading with -100 SL - no re-enter. As soon as one order goes in, the other is cancelled.

100 pips room for GJ gives the trade a chance to end up in profit, WHEN the pair is ranging like those days. For instance, my trade travelled through -50 area but it's now at -15.

Can it be a loser? damn well bet it can
Does it have a chance? damn well bet it has (specially if friends at The Street keep the panic rolling LOL).

In time, my buy order didn't go in this morning by one pip. Sometimes you just have to have luck during ranging periods. When you don't have it, SL does the job.

P.S. There is no reason to fear a 100 pips hit, IF you know what you're doing with your MM. a -50 loss can be even bigger than a -100 loss, in that sense.
  • #2,089
  • Jan 9, 2008 6:27am Jan 9, 2008 6:27am
Like I said it's up to the individual. I use a 60 pips stop loss.
  • #2,090
  • Jan 9, 2008 6:31am Jan 9, 2008 6:31am
so far today
g/y -100
e/j -40
g/u + 40
currently have a short g/j running
all based on the 5hr system due to me living in the UK
  • #2,091
  • Jan 9, 2008 6:48am Jan 9, 2008 6:48am
Quoting cesarnc
Not intending to convince you of anything, as you should choose what fits you better.

But I'm also trading with -100 SL - no re-enter. As soon as one order goes in, the other is cancelled.

100 pips room for GJ gives the trade a chance to end up in profit, WHEN the pair is ranging like those days. For instance, my trade travelled through -50 area but it's now at -15.

Can it be a loser? damn well bet it can
Does it have a chance? damn well bet it has (specially if friends at The Street keep the panic rolling LOL).

In time, my buy order didn't go in this morning by one pip. Sometimes you just have to have luck during ranging periods. When you don't have it, SL does the job.

P.S. There is no reason to fear a 100 pips hit, IF you know what you're doing with your MM. a -50 loss can be even bigger than a -100 loss, in that sense.

Cesar,

Thanks & Gracias...(that is if you speak spanish) for the SL tip. One thing that I am doing is once I am up 50 more or less I bring up my SL to reflect the current price. It has worked well so far. In my case as long as my MM does not trigger the fear factor, I can muster the patience to use this method.
Unus pro omnibus, omnes pro uno
  • #2,092
  • Jan 9, 2008 10:03am Jan 9, 2008 10:03am
This is a great thread! I have a question though, Is there an indicator available that will automatically draw my vertical lines for me at the start and end times? I am doing it right now by hand. Thanks,
Pips are like cabbage, the green ones are the tastiest!
  • #2,093
  • Jan 9, 2008 10:27am Jan 9, 2008 10:27am
Here there is the Tradestation Nicotina strategy

Quoting Patti
I use Tradestation and wondered if you would share your Tradestation Stragegy. I have been trying to write one, but frankly I suck at it. It would be much appreciated.

Thanks

Patti
Attached File(s)
File Type: zip Nicotina Tradestation.zip   4 KB | 656 downloads
  • #2,094
  • Jan 9, 2008 10:35am Jan 9, 2008 10:35am
Quoting cabbagepicker
This is a great thread! I have a question though, Is there an indicator available that will automatically draw my vertical lines for me at the start and end times? I am doing it right now by hand. Thanks,
Open the attachments at the top of this page and select "The Box" or "SDX Zone Breakout Nicotina" download one of them or both and attach it to your chart (MT4)
Regards
  • #2,095
  • Jan 9, 2008 10:47am Jan 9, 2008 10:47am
Can someone please help me with my platform...i use alpari (MT4). I tried loadin the EA but it wasnt working. I thought it was this particular EA but i discoverd that all EA's just wouldnt work on the platform...please anybody with an assistance
  • #2,096
  • Jan 9, 2008 11:00am Jan 9, 2008 11:00am
Quoting cesarnc
Not intending to convince you of anything, as you should choose what fits you better.

But I'm also trading with -100 SL - no re-enter. As soon as one order goes in, the other is cancelled.
You have convinced me. The demo 100 sl stayed alive and has just passed its breakeven, so it can't lose.

I have changed the live account to sl 100 and no re entry.

  • #2,097
  • Jan 9, 2008 11:06am Jan 9, 2008 11:06am
Quoting SteveHopwood
You have convinced me. The demo 100 sl stayed alive and has just passed its breakeven, so it can't lose.

I have changed the live account to sl 100 and no re entry.

I'm trying to change the EA to reflect the 100 sl and no reentry. Changing to a 100 sl is easy enough, but does anyone know what setting I need to adjust to reflect no reentry?

Thanks in advance.
Greetings from Guanajuato, Mexico
  • #2,098
  • Jan 9, 2008 11:12am Jan 9, 2008 11:12am
Quoting yen44x
I'm trying to change the EA to reflect the 100 sl and no reentry. Changing to a 100 sl is easy enough, but does anyone know what setting I need to adjust to reflect no reentry?

Thanks in advance.
You are after the NoOfResets setting. By default, this is 2 so the ea will re-enter after a sl.

I have set mine to NoOfResets=1, as I assume that NoOfResets=0 would stop the ea placing orders at all.



Edit:
I am right - I just thought to check the user guide. It says:
NumberOfResets: This is how many times the EA enters the orders. If set to 1, the EA will only enter the orders the first time and if both the SL hit, it calls it a day.

  • #2,099
  • Jan 9, 2008 11:15am Jan 9, 2008 11:15am
Quoting SteveHopwood
You are after the NoOfResets setting. By default, this is 2 so the ea will re-enter after a sl.

I have set mine to NoOfResets=1, as I assume that NoOfResets=0 would stop the ea placing orders at all.

Great! Thanks so much for the help.
Greetings from Guanajuato, Mexico
  • #2,100
  • Jan 9, 2008 11:50am Jan 9, 2008 11:50am
Quoting howard
Open the attachments at the top of this page and select "The Box" or "SDX Zone Breakout Nicotina" download one of them or both and attach it to your chart (MT4)

"The Box" loads, but does not show up. I see the numbers in the left corner but no "Box" ,Tried changing colors, etc. "SDX Zone" - How do I read this? Any instructions listed anywhere? Thanks
Pips are like cabbage, the green ones are the tastiest!
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