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GBP/JPY for QQE Traders!

  • #741
  • Jan 29, 2008 4:20pm Jan 29, 2008 4:20pm
Took a trade in the afternoon was fast and nice and I have been watching since then will see how the Tokyo market unfolds, if it's anything I don't like then I will be back before the London market
All the best things in life are free.
  • #742
  • Jan 29, 2008 4:22pm Jan 29, 2008 4:22pm
Fellow traders I will retire now, will be back during Tokyo session, may the pips be with you
All the best things in life are free.
  • #743
  • Jan 29, 2008 4:28pm Jan 29, 2008 4:28pm
mark,

I use my 5/15 Strategy the same on both time frames depending on market.

I don't wait for my signals to come on the 1H, but I look at the 1H for my direction.

Meaning, if the 1H trend is UP, I will only scalp LONGS.
If the 1H trend is down, I will only scalp SHORTS.

So, I use the QQE and ZL Stochs on the 1H and then scalp in that direction only.

Just safer, as you know the saying....... Trend is your friend....
Learned the hard way, it's not worth it to scalp against the trend.
I'd rather make 3 trades of 2 lots each and win them all then 6 trades of 1 lot each and lose 2.

Make sense ?
Did that answer your question ?
Just want to make sure.

kj
  • #744
  • Jan 29, 2008 5:07pm Jan 29, 2008 5:07pm
Quoting kujo17
mark,

I use my 5/15 Strategy the same on both time frames depending on market.

I don't wait for my signals to come on the 1H, but I look at the 1H for my direction.

Meaning, if the 1H trend is UP, I will only scalp LONGS.
If the 1H trend is down, I will only scalp SHORTS.

So, I use the QQE and ZL Stochs on the 1H and then scalp in that direction only.

Just safer, as you know the saying....... Trend is your friend....
Learned the hard way, it's not worth it to scalp against the trend.
I'd rather make 3 trades of 2 lots each and win them all then 6 trades of 1 lot each and lose 2.

Make sense ?
Did that answer your question ?
Just want to make sure.

kj



hi kj
thanks answering my question
so how do you define up or down trend on 1hr chart
like SMA cross over,qqe5 cross up or down,zlstoch cross.....is that right or something else
and what time frame is the best 5 or 15 ?

thanks
  • #745
  • Jan 29, 2008 5:30pm Jan 29, 2008 5:30pm
Quoting makemerich
hi kj
thanks answering my question
so how do you define up or down trend on 1hr chart
like SMA cross over,qqe5 cross up or down,zlstoch cross.....is that right or something else
and what time frame is the best 5 or 15 ?

thanks
As far as I know from Kujo: he uses this strategy solely on H1 TF (and not on shorter term TFs anymore).
You define an uptrend when indicators point north: stoch crossing up, QQE5 crossing up, 5SMAs crossing each other and you just wait for the next candle to open after all these indicators agree!
Basically that's it ...
I just added the ADX indicator to know whether the market is trending or not, in addiction to all the others (ADX>25 meaning trending market)

Correct me if I'm wrong Kujo...
  • #746
  • Jan 29, 2008 5:46pm Jan 29, 2008 5:46pm
HI MICHI
that is also my concern......what time frame he used for entry.....and i just asked about that .........he answered that he enter on 5/15 and he just use 1hr for conformation of trend
that's what i understand
u can also read the post 743

thanks
  • #747
  • Jan 29, 2008 5:48pm Jan 29, 2008 5:48pm
that's right guys.

I use the QQE and ZL Stoch to decide the Hourly trend.
it's crossed down, short.... crossed up, long.

I then use the 5M on trending days to enter a touch earlier, but then I'll use the 15M usually to judge my exit.

Even if you wait for all things to align, you'll be fine.
I just sometimes hang in a trade longer now, due to knowing I'm with the trend.

If I was scalping against, I'd get out as soon as the indicators crossed the other way.

It's an easy and mechanical system on the big, trending days pays off nicely.
  • #748
  • Jan 29, 2008 5:55pm Jan 29, 2008 5:55pm
hi kj
thanks you .........now i am fine
  • #749
  • Jan 29, 2008 6:01pm Jan 29, 2008 6:01pm
hi kj
one more thing
what about SL
  • #750
  • Jan 29, 2008 6:37pm Jan 29, 2008 6:37pm
I only use SLs if I'm not at the terminal.

I'll also run a Trailing Stop when away, once heavily into profit.
If I have an idea what's happening, Daily trend for instance and it's like a retrace down and I'm long, I'll Hedge.......

if I'm with the Daily and 1H, I won't do anything.
But, if I know news is coming or something strange, I'll set an SL, but like I said, only if I'm not at the terminal, watching it like a hawk.
  • #751
  • Jan 29, 2008 6:42pm Jan 29, 2008 6:42pm
well, my projection that Tokyo would push down was right.
Short from 213.02..... just hope it can push through the DP and down to 23.6 fib or S1......

3 days last week, at the open, they pushed down 100+ pips.
Both days this week, they did the same.......

Now, it's 3 for 3 this week.

If this 1H bar closes below the Gann HiLo and this lower TL, we're good to go I'd bet.

1st TP 211.95
2nd TP 211.45
  • #752
  • Jan 29, 2008 7:34pm Jan 29, 2008 7:34pm
Quoting kujo17
mark,

I use my 5/15 Strategy the same on both time frames depending on market.

I don't wait for my signals to come on the 1H, but I look at the 1H for my direction.

Meaning, if the 1H trend is UP, I will only scalp LONGS.
If the 1H trend is down, I will only scalp SHORTS.

So, I use the QQE and ZL Stochs on the 1H and then scalp in that direction only.

Just safer, as you know the saying....... Trend is your friend....
Learned the hard way, it's not worth it to scalp against the trend.
I'd rather make 3 trades of 2 lots each and win them all then 6 trades of 1 lot each and lose 2.

Make sense ?
Did that answer your question ?
Just want to make sure.

kj
so how you determine for now... short position...
  • #753
  • Jan 29, 2008 7:50pm Jan 29, 2008 7:50pm
well, right now, if you went by the LAW of the strategy, you would have exited at the close of the last 15M bar, above the SMA.

BUT, as I said, I'm also going with the 1H trend, so I'll stay in a bit, until the 1H Stoch starts to level off and then I'll debate getting out.

A Strategy is a set of rules.
They can be interpreted as well.

As long as I'm with the trend, I'll go until the SMA cross and turn UP completely. And then jettison from the trade.

if this 1H bar closes below the lower TL it's at, I'll stay in.
If it gets caught up here, I'll exit.

Trade what you see...... not what I do..........
  • #754
  • Jan 29, 2008 8:08pm Jan 29, 2008 8:08pm
Quoting kujo17
well, right now, if you went by the LAW of the strategy, you would have exited at the close of the last 15M bar, above the SMA.

BUT, as I said, I'm also going with the 1H trend, so I'll stay in a bit, until the 1H Stoch starts to level off and then I'll debate getting out.

A Strategy is a set of rules.
They can be interpreted as well.

As long as I'm with the trend, I'll go until the SMA cross and turn UP completely. And then jettison from the trade.

if this 1H bar closes below the lower TL it's at, I'll stay in.
If it gets caught up here, I'll exit.

Trade what you see...... not what I do..........

thank mate...but i'm still don't get with meaning 1H bar closes below the lower TL..do you mean Gann Hilo or Demark trendline HL_1 ... possible attach graph dude...
  • #755
  • Jan 29, 2008 8:16pm Jan 29, 2008 8:16pm
there was a lower Trend Line on the 1H chart that ran up, at an Ascending angle that hadn't been broken......

This is what I'm talking about.

Broke.
Attached Image (click to enlarge)
Click to Enlarge Name: 1HTL.jpg Size: 254 KB
  • #756
  • Jan 29, 2008 8:34pm Jan 29, 2008 8:34pm
Quoting kujo17
there was a lower Trend Line on the 1H chart that ran up, at an Ascending angle that hadn't been broken......

This is what I'm talking about.

Broke.
Hey Kujo I just did setup following your mentioned steps and liked it.
Thanks.

Just before going thru all this i had entered and exited a short on GJ. looking at same trade i see i could have made a few more pips.

Did assign some colours to give a better picture (of red is on top its a short).
Attached Image (click to enlarge)
Click to Enlarge Name: gj_short.gif Size: 18 KB
  • #757
  • Jan 30, 2008 12:05am Jan 30, 2008 12:05am
anyone have positon long
  • #758
  • Jan 30, 2008 12:08am Jan 30, 2008 12:08am
We just had a 50% retrace for the third day in a row during Asian session.
Attached Image (click to enlarge)
Click to Enlarge Name: 50_retrace.jpg Size: 229 KB
  • #759
  • Jan 30, 2008 12:15am Jan 30, 2008 12:15am
Quoting ammaramani
anyone have positon long
Tempting . . . but I don't trust it yet. With the previous two days, price started going back up after the 50% retrace, but then went back down again. Then after that, it finally went up for good.
  • #760
  • Jan 30, 2008 12:35am Jan 30, 2008 12:35am
And now there's the added wild card of an interest rate cut, so we can't even be sure price will stop at the 50%, until we actually see it go back up.
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