did any one else make any money today i know the conditions are a little tough but it still is able to give a little if you are willing to take a little
- #1,462
- Edited 9:17am Jan 10, 2008 9:10am | Edited 9:17am
did any one else make any money today i know the conditions are a little tough but it still is able to give a little if you are willing to take a little
hmmm mixed bag today, +30 and -30
today i felt i was incorporating TOO MUCH DISCRETION.
I read somewhere else on this forum, someone said discretion can be like a ship without an anchor...before you know it you have drifted very far from the original concept.
time to tie the raft up again!
if I had of just taken all the signals, i think it would have been about 170pips out of total 260 available, giving 65%...there abouts.
Still i did not loose anything, except time!
- #1,471
- Jan 10, 2008 10:51am Jan 10, 2008 10:51am
Harold, do you trade AUD/USD as well? Today I got two signals on it with your system... had i followed them i wold have made 55 pips.. got the signals at 0.8835, it's at 0.8890 as i write this.
- #1,472
- Jan 10, 2008 11:56am Jan 10, 2008 11:56am
Just my little contribution to this interesting topic: the oversold/overbought condition.
I've read a tecnique named BOSO (by David Penn, Stock and Commodities, feb 2006). He says: when the %D line of the a stochastich cross teh 20/80 level entering the oversold or overbought condition AND the price is walking over the Bollinger Band, the price will continue the trend untill the stoch line come out and reenter the normal range. Hope it make sense. Can this help our strategy?
This condition is easily observable, for istance, checking GBPCHF daily chart.
Btw. Today I was busy with my regular job. I only took the first gbpusd short of the day, I put it at the breakeven but I was stopped out.
result for today: + O pips
... better then a loss
ciao
I've read a tecnique named BOSO (by David Penn, Stock and Commodities, feb 2006). He says: when the %D line of the a stochastich cross teh 20/80 level entering the oversold or overbought condition AND the price is walking over the Bollinger Band, the price will continue the trend untill the stoch line come out and reenter the normal range. Hope it make sense. Can this help our strategy?
This condition is easily observable, for istance, checking GBPCHF daily chart.
Btw. Today I was busy with my regular job. I only took the first gbpusd short of the day, I put it at the breakeven but I was stopped out.
result for today: + O pips
... better then a loss
ciao
- #1,473
- Jan 10, 2008 12:14pm Jan 10, 2008 12:14pm
gbpjpy had signal at 1200 gmt at 214.93 already moved 85 pips oh pipruler i am glad it was that you never want to chase the market if you miss signal let it go
- Syd
[dust is my bed...]
- #1,474
- Jan 10, 2008 12:27pm Jan 10, 2008 12:27pm
the rsi's are also in that area also i look at them as the cycle tool so when they get like this i trade cautious thats all well wife again is calling boy you say i do and then you are done lol see you guys later
what is that cycle tool? I saw you saying checking stoch for cycle?? how to look for this cycle ??
- Syd
[dust is my bed...]
- #1,475
- Jan 10, 2008 12:43pm Jan 10, 2008 12:43pm
Just my little contribution to this interesting topic: the oversold/overbought condition.
I've read a tecnique named BOSO (by David Penn, Stock and Commodities, feb 2006). He says: when the %D line of the a stochastich cross teh 20/80 level entering the oversold or overbought condition AND the price is walking over the Bollinger Band, the price will continue the trend untill the stoch line come out and reenter the normal range. Hope it make sense. Can this help our strategy?
This condition is easily observable, for istance, checking GBPCHF daily chart.
Btw. Today I was busy with my regular job. I only took the first gbpusd short of the day, I put it at the breakeven but I was stopped out.
result for today: + O pips
... better then a loss
ciao
I have fastK, slowK and slowD in the settings, but only 2 lines on the indicator .. one is dotted...
- Syd
[dust is my bed...]
- #1,476
- Jan 10, 2008 1:42pm Jan 10, 2008 1:42pm
yes and that means we would enter at the start of 1GMT candle ??- thats what I did
sounds right to me,
signal given at the close of the 1200 candle.
you enter trade at the begining of the 1300 candle.
- #1,477
- Jan 10, 2008 1:45pm Jan 10, 2008 1:45pm
Harold, you mentioned it again and I really need to ask it this time ...
what is that cycle tool? I saw you saying checking stoch for cycle?? how to look for this cycle ??
I think if daily trend is down, you go to the one hour chart.
If on th eone hour chart the RSI and stoch are showing oversold, you wait for them to come back to center (or get less oversold, bad English
).....i.e for the stoch you would want the %K and %D to move back above the 20 line a and then cross back in the direction of the daily trend before entering...you wan them to complete a cyle....or even re-cycle.OK, I 'm gibbering, comeone wiht a higher IQ can aswer better with less writing I'm sure!
I'm not to sure either, (h4x hope you don't mind me answering).
I think if daily trend is down, you go to the one hour chart.
If on th eone hour chart the RSI and stoch are showing oversold, you wait for them to come back to center (or get less oversold, bad English
OK, I 'm gibbering, comeone wiht a higher IQ can aswer better with less writing I'm sure!
I'll try (H4X can correct me!). The indicators on the hourly need to cross in the direction of the daily trend. Period. To me the issues with the overbought/oversold shows in the daily chart itself. Let's look at EJ. It has clearly been in a downtrend for a while and appears to be losing steam/reversing. If I look at a daily chart alone with no indicators it would seem to me the downward trend appears to be dwindling or oversold, hence the cautious positioning.