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  • #1,981
  • Jan 23, 2008 1:17am Jan 23, 2008 1:17am
Quoting Trader4Life
From my understanding it doesnt matter if the signal bar is up or down when going long or short.

i dont see any entries yet, maybe at the end of this 700gmt bar a signalwill occur.

looking for gbpjpy, audjpy, and eurjpy as top picks if signals occur. Anyone else agree or disagree?

its going to be tough to stay awake for 45min. im sleepy....
I agree, nothing strong in my opinion, but I've been wrong before..
  • #1,982
  • Jan 23, 2008 1:32am Jan 23, 2008 1:32am
Quoting autaret
Now a question: what about if at the end of this hour we have all the indicator pointed in the correct direction but the candle is UP ... still a good time to entry???
Hello autaret,

read it again:

Originally Posted by harold4x http://www.forexfactory.com/images/buttons/viewpost.gif
ok there seems to be a little confusion but before i get to that mike habit this is for you i read your text the only thing i didnt see was concerning the ema 5 is close but 8ema should be of the open if its there i didnt see it. now here are the pairs again eurcad HAS BEEN REMOVED I DONT USE IT ANYMORE IT HAS BEEN REPLACED WITH AUDJPY!!! now concerning a signal on daily chart we look at the close of the daily candle which is 7 pm est and we see where the 5 ema of close and 8 ema of open are crossed at either up or down we then look at the rsi and see if it is above or below the 50 level in same direction as the ema's we dont look at the stoch on daily chart at all.looking at whether the candle is up or down means nothing our signals come from the ema cross and rsi cross on daily chart that it. once we have direction for next trading session we look for the ema's and the rsi and the stochs to cross in direction of the signal. discretion: if signal on hourly charts has stochs in the 10's or 80's stay out if news is happening at same time as signal stay out if price has come down a ton thats up to you depending on how far its come most importantly is if you are in doubt just stay out that also contitutes a trading decision which is good money management signals for tommorow all 6 are short
  • #1,983
  • Jan 23, 2008 1:33am Jan 23, 2008 1:33am
looking for gbpjpy, audjpy, and eurjpy as top picks if signals occur. Anyone else agree or disagree?

Yes they look the best bet to me too, might have to wait for a retrace first?
  • #1,984
  • Jan 23, 2008 1:45am Jan 23, 2008 1:45am
Quoting mikehabit
Trader4life - the code is good but i need to add a few inputs to make the 8 ema read the open instead of the close. i can repost it for you as i perfect it.

Mike

Glad to hear there is a code for TradeStation! do you use it too?

I have a few questions about it.

1. Is this code for strategy or as indicator i TS platform?
2. Will you be adding to the code so it can be auto traded too?
3. will the signals to entry and exit a trade send email alert?
4. Are you able to to take a screen snap shot and attach it as an email too?
a. if so, can it also be program to send a screen snap shot 5 & 2 minutes before each hour, on the hour, and 2 & 5 minutes after each hour?
5. will it have a time restriction for entry between 6gmt to 18gmt?
  • #1,985
  • Jan 23, 2008 1:56am Jan 23, 2008 1:56am
Poki,

we see the retrace to the 5ema and now they are blowing past in an upward direction. wonder if it will be a strong pullup or the temporary dip was a pullback as it now continues upward in an early start of a long (gbpjpy)

not feeling too comfortable with a short position at this time. may void trades for london period today.


Something to be aware of! the daily for gbpjpy, gbpusd, and gbpchf have stochs negating short trades today. that may be acting as a good filter today to stay out of possible false entries as we are looking at the 6 and 7 gmt bars so far.

i still record no trade or short/long with/and w/o stochs on daily to see if trades will be winners or loosers regarding stochs no stochs.
  • #1,986
  • Jan 23, 2008 2:05am Jan 23, 2008 2:05am
I'm thinking retrace to the 100fib mark, keeping an eye on 5min charts for first sign of reversal
  • #1,987
  • Jan 23, 2008 2:25am Jan 23, 2008 2:25am
Just making double sure here Euro Yen did give us a signal now on the hourly to go short right? Yes?
  • #1,988
  • Jan 23, 2008 2:43am Jan 23, 2008 2:43am
Quoting FxPip
Just making double sure here Euro Yen did give us a signal now on the hourly to go short right? Yes?
Hourly RS! is still just above 50 line on my chart, maybe next candle??
  • #1,989
  • Jan 23, 2008 2:50am Jan 23, 2008 2:50am
Quoting FxPip
Just making double sure here Euro Yen did give us a signal now on the hourly to go short right? Yes?
Nope, RSI still above 50
The quality of your life is brought about by the quality of your thinking.
  • #1,990
  • Jan 23, 2008 3:06am Jan 23, 2008 3:06am
not feeling too comfortable with a short position at this time. may void trades for london period today.


Something to be aware of! the daily for gbpjpy, gbpusd, and gbpchf have stochs negating short trades today. that may be acting as a good filter today to stay out of possible false entries as we are looking at the 6 and 7 gmt bars so far.

i still record no trade or short/long with/and w/o stochs on daily to see if trades will be winners or loosers regarding stochs no stochs.

Good point and one I personally take under consideration. Although my question reguarding the dialy stoch. was answered by Harold, and I thank him for his time, I have to comfirm the "cycle's" of the daily stoch. as being somewhat of a factor in determining the strength of a trend.

My personal rule is to use the daily stoch. as a form of reduction for margin.
Therefore I'm not altering the system but simply reducing my exsposure to risk based upone the indicators used in the system.

Example: If the daily stoch. is in line with the daily EMA's and the daily RSI, then I will continue to use a 3% margin (this is my personal % and not a recomendation), but if the Daily stoch. in not in conjunction with all other daily indicators and my hourly indicators line up for a trade my margin will be cut in 1/2.
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  • #1,991
  • Jan 23, 2008 3:34am Jan 23, 2008 3:34am
Quoting sebastian709
not feeling too comfortable with a short position at this time. may void trades for london period today.


Something to be aware of! the daily for gbpjpy, gbpusd, and gbpchf have stochs negating short trades today. that may be acting as a good filter today to stay out of possible false entries as we are looking at the 6 and 7 gmt bars so far.

i still record no trade or short/long with/and w/o stochs on daily to see if trades will be winners or loosers regarding stochs no stochs.

Good point and one I personally take under consideration. Although my question reguarding the dialy stoch. was answered by Harold, and I thank him for his time, I have to comfirm the "cycle's" of the daily stoch. as being somewhat of a factor in determining the strength of a trend.

My personal rule is to use the daily stoch. as a form of reduction for margin.
Therefore I'm not altering the system but simply reducing my exsposure to risk based upone the indicators used in the system.

Example: If the daily stoch. is in line with the daily EMA's and the daily RSI, then I will continue to use a 3% margin (this is my personal % and not a recomendation), but if the Daily stoch. in not in conjunction with all other daily indicators and my hourly indicators line up for a trade my margin will be cut in 1/2.
Strength of momentum you mean.

I've wondered about that. Surely if all three daily indicators line up and the preceding day's candle does not buck the trend, then surely one is more than likely in an hourly setup of minimal risk. I'm not trying to detract from Harold's method, merely trying to understand the mix of signals in his excellent system so as to ensure I can get the best possible mix of risk exposure. Understanding the best possible setup tends to put Harold's system in perspective and perhaps opens up opportunities for more informed profit taking.
The road to pipland is arduous and fraught with challenge.
  • #1,992
  • Jan 23, 2008 4:05am Jan 23, 2008 4:05am
entry eurjpy @ 154.99
  • #1,993
  • Jan 23, 2008 4:05am Jan 23, 2008 4:05am
i'm short E/J
  • #1,994
  • Jan 23, 2008 4:08am Jan 23, 2008 4:08am
Quoting autaret
entry eurjpy @ 154.99
shocs havent crossed over yet
  • #1,995
  • Jan 23, 2008 4:10am Jan 23, 2008 4:10am
Hmmm, they are on my chart
  • #1,996
  • Jan 23, 2008 4:14am Jan 23, 2008 4:14am
They drew together on mine (not quite crossed) and are now moving apart.
The road to pipland is arduous and fraught with challenge.
  • #1,997
  • Jan 23, 2008 4:15am Jan 23, 2008 4:15am
eur/jpy crosed on mine also. short @ 154.95.
  • #1,998
  • Jan 23, 2008 4:28am Jan 23, 2008 4:28am
exited eur/jpy @ 154.65 for +30
  • #1,999
  • Jan 23, 2008 4:28am Jan 23, 2008 4:28am
out e/j @ 154.83 + 16 pips !!!
my goal was to get 15-20 pips for this trade due the condition of the daily stochastic. In my opiniopn it means we are in the potential beginning of a new trend, so the "bulls" are trying to take the control.
(Looking at now I'm wrong but ... who knows the future ???)
  • #2,000
  • Jan 23, 2008 4:29am Jan 23, 2008 4:29am
closed @ +33
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