A nice long entry on cadjpy. Took out 40 pips. Entered the trade and left 2 watch a movie. Came back and saw a reward, reward 4 patience and obedience. That's what u need 2 trade this system. NFP week, B cautious.
A nice long entry on cadjpy. Took out 40 pips. Entered the trade and left 2 watch a movie. Came back and saw a reward, reward 4 patience and obedience. That's what u need 2 trade this system. NFP week, B cautious.
Ignored
Was that a good example of a valid signal or pure luck?.. Just wondering (i.e. without any criticism). You max drawdown was almost 40 pips, the gain - 40 pips too. It's not pleasant to lose 40 pips, if that could have been the case...
Was that a good example of a valid signal or pure luck?.. Just wondering (i.e. without any criticism). You max drawdown was almost 40 pips, the gain - 40 pips too. It's not pleasant to lose 40 pips, if that could have been the case...
Ignored
Forex 007, I don't know the point you're driving at, if u've got qualms with the entry or exit. The cadjpy chart was in a clear uptrend in the 1- hr time frame, wicker- setup complete, the EA indicating a LONG position, laguerre alert indicator giving a 0.15 cross upward.
I took the long @ 106.48 with a stop loss of 106.18 (30 pips 4rm entry) and targeted for 40 pips. 30 pip stop loss is my standard for entering trades. The trade is clear since it went past 120 pips from my entry. There was no near challenge to my stop loss. I don't see "-40" u mentioned in your post. The trade never yanked my chain.
Where I place my exit is an entitlement. I took the trade and went off for a movie. If I was there, I could have trailed my stop and gone for higher yield. 40 pips is cool 4 me, so so cool. What's more important is money management- the number of lots I trade with, etc, my friend.
A nice long entry on cadjpy. Took out 40 pips. Entered the trade and left 2 watch a movie. Came back and saw a reward, reward 4 patience and obedience. That's what u need 2 trade this system. NFP week, B cautious.
Ignored
Very nice trade you took there.
I have traded this system for almost 5 months now and since then I haven't looked for any other system. It has gave me really good profits during this time. I'm not live yet because my lack of screen time but in a few months I think I'll give it a try.
Very nice trade you took there.
I have traded this system for almost 5 months now and since then I haven't looked for any other system. It has gave me really good profits during this time. I'm not live yet because my lack of screen time but in a few months I think I'll give it a try.
Anybody trading TF live?
Ignored
MKK, Thanks. I use this TF system for my live trades. The charts I post here are part of my live trades. I'm sure those who have gone live trading will appreciate the seriousness of following the rules, since money management comes in.
Mate, I wish u success in your live trading. This system makes money making, fun.
Do both of you use this system strictly on the 5-min chart? timex83, I see you confirm that the 5-min trend matches the 1 hour, do you also look for confirmation of the larger daily trend or not?
Finally, do both of you only trade the perfect signal? To be more specific, only make trades when the laguerre just crosses the line and not when it has been above/below the line for some time?
I am just interested in knowing exactly how both of you use the system.
Forex 007, I don't know the point you're driving at, if u've got qualms with the entry or exit. The cadjpy chart was in a clear uptrend in the 1- hr time frame, wicker- setup complete, the EA indicating a LONG position, laguerre alert indicator giving a 0.15 cross upward.
I took the long @ 106.48 with a stop loss of 106.18 (30 pips 4rm entry) and targeted for 40 pips. 30 pip stop loss is my standard for entering trades. The trade is clear since it went past 120 pips from my entry. There was no near challenge to my stop loss. I don't see "-40" u mentioned in your post. The trade never yanked my chain.
Where I place my exit is an entitlement. I took the trade and went off for a movie. If I was there, I could have trailed my stop and gone for higher yield. 40 pips is cool 4 me, so so cool. What's more important is money management- the number of lots I trade with, etc, my friend.
Do both of you use this system strictly on the 5-min chart? timex83, I see you confirm that the 5-min trend matches the 1 hour, do you also look for confirmation of the larger daily trend or not?
Finally, do both of you only trade the perfect signal? To be more specific, only make trades when the laguerre just crosses the line and not when it has been above/below the line for some time?
I am just interested in knowing exactly how both of you use the system.
Thanks!
Ignored
Araouf, the rules of the system are clear on the first page of this thread. I don't follow a rule blindly. I want to know if there is volatile news coming out. I love to see the clearer picture, that's why I hav the 1-hr time frame for comfirmation. This is not part of The Wicker's rule on page 1, but The Wicker also uses the 1-hr time frame (Check post 195 on page 79)
I use only d 1-hr time frame for comfirmation. This is only reasonable, since this system is based on 5 mins. If the signal is in the direction of the main trend, it's a high probability trade. Mate, I don't want 2 go against d main trend. I have about 13 currency pairs on my screen, one of them wil satisfy both the wicker's rule and the general trend defined on the 1-hr time frame. When that occurs, I'll b waiting 2 pull d trigger.
On same page 79, u may also find some answers from The Wicker to d concept of "perfect signal"- laguerre cross, number of bars after the cross, etc. I hope this helps
I use only d 1-hr time frame for comfirmation. This is only reasonable, since this system is based on 5 mins. If the signal is in the direction of the main trend, it's a high probability trade. Mate, I don't want 2 go against d main trend. I have about 13 currency pairs on my screen, one of them wil satisfy both the wicker's rule and the general trend defined on the 1-hr time frame. When that occurs, I'll b waiting 2 pull d trigger.
Ignored
up trend for green below red, vice versa, is it? how do you determine the direction of main trend?
up trend for green below red, vice versa, is it? how do you determine the direction of main trend?
Ignored
There is trend definition with respect to d time frame. There is 1 min, 5 min, 15 min, 30 min, 1 hr, 4 hr, etc trend lines. We use 5 mins to find entry using the wicker's system. On d 5 mins time frame, when the guppy is pointing up and the green is above the red, its an uptrend. The reverse is true for downtrend. We use the macd and laguerre cross for entry.
looking for main trend on the 1 hr time frame, I use trend lines. Some use moving averages.
up trend for green below red, vice versa, is it? how do you determine the direction of main trend?
Ignored
There is trend definition with respect to d time frame. There is 1 min, 5 min, 15 min, 30 min, 1 hr, 4 hr, etc trend lines. We use 5 mins to find entry using the wicker's system. On d 5 mins time frame, when the guppy is pointing up and the green is above the red, its an uptrend. The reverse is true for downtrend. We use the macd and laguerre cross for entry.
looking for main trend on the 1 hr time frame, I use trend lines. Some use moving averages. One may also decide 2 use the 30 min chart for his main trend determination. Use what suites u best.
You say you have 13 currency pairs opened. Which ones do you trade with TF system? And how do you manage to follow them all?
I absolutely agree with you, MM is VERY important. How many % of your account do you risk on a single trade?
I like the indicators on your 1h chart? I can see MagnifiedMarketPrice. Can you tell me which are the others?
Thanx
Piksy
Ignored
I hav 14 currency pairs opened actually. I trade the 14 using TF system. My choice of a currency pair depends on the spread and average daily range. I loaded the EA (d recent modified paul murfin's EA) and a laguerre indicator that alerts me with a beeping sound when there is 0.75 cross downward or 0.15 cross upward.
The EA tells me if the currency pair is tradable based on the guppy direction, position of green against red and the MACD position (above/ beneath 0 line). Once I get a laguerre alert, i'm informed of the currency pair, so I go there to check if its tradable.
The recent indicators are on page 86, post #1283
On Money management, there are many ebooks to solve that for u. Finally it's a personal decision u may want 2 make. It becomes an instinctive pschological decision, distinct 4 every1.
The other indicators on my 1-hr chart tells me the SPREAD, The number of Pips to the open price for the day (present price - open price; a negative value shows the current price is below the open price and vice-versa). It also indicates the high to low (priceHIGH - priceLOW; i.e range for that day). lastly, the Average daily range {sum of N(daily averages)/ N}
I hav 14 currency pairs opened actually. I trade the 14 using TF system. My choice of a currency pair depends on the spread and average daily range. I loaded the EA (d recent modified paul murfin's EA) and a laguerre indicator that alerts me with a beeping sound when there is 0.75 cross downward or 0.15 cross upward.
The EA tells me if the currency pair is tradable based on the guppy direction, position of green against red and the MACD position (above/ beneath 0 line). Once I get a laguerre alert, i'm informed of the currency pair, so I go there to check if its tradable.
The recent indicators are on page 86, post #1283
On Money management, there are many ebooks to solve that for u. Finally it's a personal decision u may want 2 make. It becomes an instinctive pschological decision, distinct 4 every1.
The other indicators on my 1-hr chart tells me the SPREAD, The number of Pips to the open price for the day (present price - open price; a negative value shows the current price is below the open price and vice-versa). It also indicates the high to low (priceHIGH - priceLOW; i.e range for that day). lastly, the Average daily average {sum of N(daily averages)/ N}
