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  • #1,781
  • Jan 18, 2008 8:02am Jan 18, 2008 8:02am
Quoting harold4x
short gbpjpy and long eurcad

snap
  • #1,782
  • Jan 18, 2008 8:09am Jan 18, 2008 8:09am
harold
what size sl have you applied to your eur/cad trade?
thanks
  • #1,783
  • Jan 18, 2008 8:12am Jan 18, 2008 8:12am
Hello Friend,

What you think make an EA? How long you are using this TS? iŽll not charge nothing, just share

Kind regards,

Marcelo Marques
  • #1,784
  • Jan 18, 2008 8:12am Jan 18, 2008 8:12am
I'm going out on a limb here and say i reckon we'll see 209 today on gbp/jpy.

my SL is 60pips on eur/cad, to get below support.
  • #1,785
  • Jan 18, 2008 8:22am Jan 18, 2008 8:22am
Quoting harold4x
well have done a little backtest on something that i saw. i was looking at daily charts last hight of gbpchf and gbpusd they are in clear down trends you dont even need any indicators to see that what i did observe is lets use gbpusd for example we had a cross of ema on 11/29 and rsi crossed below 50 the rsi tells us about strength and it has stayed under 50 from that time till now there were about10 that there would have been a no trade because stoc crossed up but price still went down. so i asked myself what is purpose for the stoc it is a cycle tool but why do i need it on the daily chart since i only am looking for the direction to trade. so i looked at charts last night and heres what i have found if we use ema cross and rsi cross of 50 only on daily to obtain the direction to trade next day and then go to 1 hour charts as normal and then use the 3 indicators to line up for a signal the results were unbelieveable the worst win loss was the cadjpy 8 wins 4 losses i think one of the pairs was 17 wins and 5 losses. i alos checked back during some consolidation periods and the win loss was at 60% which is very acceptable so i will be experimenting with this and do some due diligence and you should do the same let me say this it takes a lot of the discretion off the table as far as ob/os you would still use discretion if say on 1 hr chart you get a signal and the stoc are in bo/os i would stay away from that one also if you get a signal say on gbpjpy and price has moved 2oo pips and we are trying to get 50 the probabilities are less i would stay away so check it out for yourself
thank you for your efforts ... will backtest during the week end ...
  • #1,786
  • Jan 18, 2008 8:27am Jan 18, 2008 8:27am
i closed the gbpjpy at +30 eurcad still on with 30 pip stop for protection
  • #1,787
  • Jan 18, 2008 8:29am Jan 18, 2008 8:29am
Quoting harold4x
well have done a little backtest on something that i saw. i was looking at daily charts last hight of gbpchf and gbpusd they are in clear down trends you dont even need any indicators to see that what i did observe is lets use gbpusd for example we had a cross of ema on 11/29 and rsi crossed below 50 the rsi tells us about strength and it has stayed under 50 from that time till now there were about10 that there would have been a no trade because stoc crossed up but price still went down. so i asked myself what is purpose for the stoc it is a cycle tool but why do i need it on the daily chart since i only am looking for the direction to trade. so i looked at charts last night and heres what i have found if we use ema cross and rsi cross of 50 only on daily to obtain the direction to trade next day and then go to 1 hour charts as normal and then use the 3 indicators to line up for a signal the results were unbelieveable the worst win loss was the cadjpy 8 wins 4 losses i think one of the pairs was 17 wins and 5 losses. i alos checked back during some consolidation periods and the win loss was at 60% which is very acceptable so i will be experimenting with this and do some due diligence and you should do the same let me say this it takes a lot of the discretion off the table as far as ob/os you would still use discretion if say on 1 hr chart you get a signal and the stoc are in bo/os i would stay away from that one also if you get a signal say on gbpjpy and price has moved 2oo pips and we are trying to get 50 the probabilities are less i would stay away so check it out for yourself
Something else you might want to consider:

Why mess with those high-spread pairs?
If you're looking for 20 to 40 pips, the spread on some of the pairs you trade is 25% of your goal. That's a huge handicap and it will show on your bottom line over time.

If you'll check out the majors + EUR/JPY ( nothing more than a spread of 4) you'll have plenty of trades.
  • #1,788
  • Jan 18, 2008 8:31am Jan 18, 2008 8:31am
stopped on eurcad for be even maybe should have taken gbpjpy alone not as big of candle but a signal is a signal
  • #1,789
  • Jan 18, 2008 8:32am Jan 18, 2008 8:32am
-30 on eur/cad
  • #1,790
  • Jan 18, 2008 8:35am Jan 18, 2008 8:35am
hi bill having pairs that have 7 or 8 pip spreads when the daily range is 200+ and trying to get 30 and 50 is a small pct of moves that spread gets met in seconds thats my reasoning behind uses these fast big moving pairs i am looking for 20% of a move which seems to have worked for last 4-5 yrs on a pretty consistent basis i understand the fears that some have with large spreads but 8 pips or 4 pips doesnt seem that big in the course of the big picture
  • #1,791
  • Jan 18, 2008 8:49am Jan 18, 2008 8:49am
looks like yen is getting stronger on the crosses
  • #1,792
  • Jan 18, 2008 8:50am Jan 18, 2008 8:50am
On what candle did you guys enter GJ? What SL?
  • #1,793
  • Jan 18, 2008 8:52am Jan 18, 2008 8:52am
1300 gmt 25 since i did a combo if i took it alone 50
  • #1,794
  • Jan 18, 2008 9:37am Jan 18, 2008 9:37am
any feedback to my findings
  • #1,795
  • Jan 18, 2008 9:38am Jan 18, 2008 9:38am
i'm going to have a heart attack by the end of today.

still in, but real wing and a prayer stuff.

currently

short gpp/jpy +22
short eur/jpy -6
long eur/cad -42:surprised
  • #1,796
  • Jan 18, 2008 9:39am Jan 18, 2008 9:39am
Quoting harold4x
any feedback to my findings
i think it sounds good, this weekend am going to go over in greater depth.
makes good sense though.
thanks h4x
  • #1,797
  • Jan 18, 2008 9:42am Jan 18, 2008 9:42am
yes thats the key due diligence and see if what i am seeing is true thats the real test maybe my eyes are playing tricks on me
  • #1,798
  • Jan 18, 2008 9:44am Jan 18, 2008 9:44am
Hi harold,

I like the idea very much, the daily stochs tend to keep us out of many good trades and often "interfeer" a good trend. I haven't backtested it at all, but your findings are definately worth looking into. As long as we keep it on the shorter timeframes, I think it will work out.

Have a nice weekend,

PC

Quoting harold4x
any feedback to my findings
Less is more...
  • #1,799
  • Jan 18, 2008 9:44am Jan 18, 2008 9:44am
Sounds like it makes sense. I will also test your theory this weekend about dropping the stoch off the analysis of the daily chart. I will also test some of the asain pairs that D liberator uses.
  • #1,800
  • Jan 18, 2008 9:49am Jan 18, 2008 9:49am
out

+50 gbp/jpy (got back -50 from this morning)
+30 eur/jpy

still -38 eur/cad though...anyone still in long eur/cad...any thoughts
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