"Trade the slope" journal

Thanks for update on USDCHF. makes sense as it tends to be negatively correlated with EURUSD.

SL hit on Usd/Chf -100

Moved SL on Gbp/Usd to +10

MTD +660
YTD +660

Just to let you guys know. That EA failed to open a short position on AUDUSD when it should have done so and opened one on two other pairs when it should not have. i think manual trading is best with this strategy. even if you don't get the earliest possible entry, you still wind up catching plenty of the move

Nate

Thanks for the update.

Pete

From an indicator standpoint, to enforce this check, I suggest modifying the indicator so that it does not calculate the slope until the candle is finished.

To achieve that, modify the indicator (.mq4) line 94 and line 98
from
for(x = 0; x < e-period; x++)

to
for(x = 1; x < e-period; x++)

and recompile and reattach the indicator to the chart again.

Long Usd/Chf at 1.1119

Hi Pete
I am just wondering ,have u thought about adding a filter on the lower TF ie 30min chart before taking a trade ie the 200ema perhaphs
Its good to see u trade live,just motives me as well
thanks
baz

SL hit on

Gbp/Usd +10
Aud/Nzd +10

MTD +680
YTD +680

Baz,

I have not, but I am contemplating tweaking the system slightly. I have quite a bit of data to disseminate.

Pete

Shall await your new tweak. Lose on UCf but gain of AU. I don't know why but I always have no luch on CHF related currencies. Didn't get in the rest as the price had moved. Scalp UJ today though cos I see it turning the other way.

Thanks Pete for your kind sharing.

pete, am glad you are thinking of tweaking this method. I have a suggestion and would be glad if contribution can be make.

I think we should go back to the basis and trade the ematrader's way. if you look very well at his manual, he goes in when the trend is about forming... that is slope is changing from +ve to -ve on daily chart

Then we narrow down to other lower time frame to pick his trade, then he let the trend roll and he rolls with it. do u know what i thought here. two things.

1. if sl is not hit early, there's high tendecy that it will not be hit until we leave the trade with more profit.

2. we shd stay away from trade that will eat into our profit by way of paying commission, eg selling gbpjpy but could use our present pete's strategy for that.

i want contribution


My 100 Naira contribution

I've been noticing this on a 1 hour time frame in general, when I enter a trade if it gives me a place to move a stop for break even or at least it stays far away from my entry price for a while after the trade starts, then it's most likely going to trend in my direction. If it starts to roll back toward my entry not long after getting in, I'm most likely better off getting out because it won't be so likely to take off in my direction. I'm sure it applies to all time frames.

Hope Pete doesnt mind,but maybe if the daily settings are kept at 80,4hr at 40 and the 2 smaller Tf at 20.
Dont know,but this is always the problem,as soon as trades go against us,it seems we "HAVE TO MODIFY" the system
Its in our nature,just cant accept losses.
Sorry Pete if i have used ur thread for the wrong reasons
cheers
baz

I think that the setting that pete is using for this currency is not good enough in my own opinion(I stand to be corrected)

This is the second trade that pete would place that would result to a losing one. I remember, the first post i made on this currency, we had different trade set-up, he lost and i won it(am not competing with him just letting us know so that we can learn from it)

Infact I placed this trade blindly without thinking twice but have to when i read the last post, then went to check the setting.... I discovered that he uses (20,1,0) and using (30,3,0) you see the chart below that bear is still in control though getting weak

I think that we all went in too early.........if we could wait ....... we would surely make profit.

20,1,0 in my own opinion is not good for this curency............

The system is very profitable as it is..... to me a holy grail... we accept losses..... we are just trying to improve on it.... stop seeing +130 goes down to +10


thanks

Hi Najafx
What settings are u using at the momment
thanks
baz

Naija,

Please review my Usd/Chf setting on my blog.

Pete

SL hit on

Usd/Chf -100
Nzd/Usd +100
Eur/Usd +100
Usd/Jpy -100
Eur/Chf +200

MTD +880
YTD +880

To all,


I am only looking at exits. I have no issue with entrys. If the system is not meeting YOUR needs, YOU need to change it. Please continue to share your ideas for all us.

Pete

hi Pete
Have a look at the 200ema on 30 min charts on canadian,swissy, cable
regards
baz