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High & Low 8 Hours (GBP/JPY)

  • #2,421
  • Feb 6, 2008 3:52am Feb 6, 2008 3:52am
Quoting bksujal
which broker are you using mate?
IBFX
TRADE FOR SWAP
  • #2,422
  • Feb 6, 2008 3:53am Feb 6, 2008 3:53am
Quoting Trumpcard
damn, got stopped out by 3 pips and wasnt home to re-enter. placed same kind of order on the GBP/CHF, still in play but missed +100 tp by a few pips coz I entered 10 pips below the low.

Can someone tell me if the EA is programmed to re-enter on a break one more time after the initial stop is hit?

croesusFX, any reason why you use the 2:00-7:00 time frame? Has this generally worked out better for you?
I`m from the UK and the 07:00 bar finishes as I get to my screen
  • #2,423
  • Feb 6, 2008 4:34am Feb 6, 2008 4:34am
yup another +100 today..hmmm first week of Feb look like will be great..but this is forex so..hehehe so be prepare...anyway congrat guys...
  • #2,424
  • Feb 6, 2008 5:51am Feb 6, 2008 5:51am
My today result was +50pip(first -50, second +100)

BTW How did you 100 pips?

My setting for gbp/jpy is

SL50 TP100 EntryBuffer 0

RangeStart 18 End 1

Numberof Resets 2

MaxRange 150

Is that right?

Ps. I use IBFX (GMT)
  • #2,425
  • Feb 6, 2008 5:52am Feb 6, 2008 5:52am
Quoting billbss
You don't go short again. You place another sell stop order just like the previous one.
Today, the short wouldn't have triggered the second time. The long order triggered and went to to make profit.

Please what is the difference between going short and placing Sell stop? Are they not both in the same price direction?
Thanks in anticipation.
Andybest
  • #2,426
  • Feb 6, 2008 7:13am Feb 6, 2008 7:13am
andy best, I going short means entering the market now whereas entering a sell stp means placing a pending order which may or may not get triggered at some time in the future.
  • #2,427
  • Feb 6, 2008 7:22am Feb 6, 2008 7:22am
Quoting andybest
Please what is the difference between going short and placing Sell stop? Are they not both in the same price direction?
Thanks in anticipation.
Andybest

'Going short' means opening a sell order immediately, rather than placing a sell stop order that gets opened if the market reaches the price.

+2 today. The price got as low as my tp, but couldn't quite overcome the spread - had I been at the computer at the time I would have closed manually for about +95. The price subsequently retraced to take out my be +2 sl. Hey ho.

That is +202 for the week so far, so even with -100's tomorrow and Friday, I will still end the week in profit. Only $0.19 but hey, it's a small account

Nice one, Microsuck.

  • #2,428
  • Feb 6, 2008 9:08am Feb 6, 2008 9:08am
This strategy looks good, uncomplicated, not many indicators, simplicity, will give it a test next few days
Respect
Tom(UK)
  • #2,429
  • Feb 6, 2008 10:28am Feb 6, 2008 10:28am
Quoting booktimes
This strategy looks good, uncomplicated, not many indicators, simplicity, will give it a test next few days
Respect
Tom(UK)
Hi Tom
try out my times if that fits in with you
since you are from the UK
02:00 - 07:00
cheers
  • #2,430
  • Feb 6, 2008 10:35am Feb 6, 2008 10:35am
Ive been playing around with 60 sl and 90 tp. Looks promising so far.
  • #2,431
  • Feb 6, 2008 10:40am Feb 6, 2008 10:40am
Hi Cro
do you mean 2am in morn till 7am? thats 5 hours
Tom(UK)
  • #2,432
  • Feb 6, 2008 10:43am Feb 6, 2008 10:43am
I thought the 18.00 till 2am was a integral part of the plan, so just wondering why you would change it to 2am till 7am, does that mean you would enter the trade after 7am?
Thanks man
Tom(uk)
  • #2,433
  • Feb 6, 2008 11:00am Feb 6, 2008 11:00am
Quoting booktimes
I thought the 18.00 till 2am was a integral part of the plan, so just wondering why you would change it to 2am till 7am, does that mean you would enter the trade after 7am?
Thanks man
Tom(uk)
yeah I`m just playing with 5 hours from 02:00 - 07:00 which means the last bar finishes at 06:00 our time when I`m at my pc
18:00 - 02:00 is ok but I dont fancy staying up to 03:00
cheers
  • #2,434
  • Feb 6, 2008 11:04am Feb 6, 2008 11:04am
Ha Ha yeah same here, I will be tonite to test it out, I will also check on the 2am till 7am also, see how that goes, though I do like the results from this thread so far, seems promising
Tom(uk)
  • #2,435
  • Feb 6, 2008 12:04pm Feb 6, 2008 12:04pm
I missed the TP last night by one too. My own fault. I should have checked my fibo which showed 138.2 line at 207.74. My TP was at 207.72. Anyhow, I had the Trailing Stop set at 50, but it never kicked in. Has anybody else had a problem with the TS?
  • #2,436
  • Feb 6, 2008 5:20pm Feb 6, 2008 5:20pm
I am going to trade this tonight first time, so fingers crossed, looks to have had good results according to thread on here.
respect
Tom(uk)
  • #2,437
  • Feb 6, 2008 5:26pm Feb 6, 2008 5:26pm
I feel if anything we will have a down tonight, the 200ema is offering strong support on daily, 4 hr and 1 hr timeframes.
respect
Tom(uk)
  • #2,438
  • Edited 6:48pm Feb 6, 2008 6:26pm | Edited 6:48pm
Quoting SteveHopwood
'Going short' means opening a sell order immediately, rather than placing a sell stop order that gets opened if the market reaches the price.

+2 today. The price got as low as my tp, but couldn't quite overcome the spread - had I been at the computer at the time I would have closed manually for about +95. The price subsequently retraced to take out my be +2 sl. Hey ho.

That is +202 for the week so far, so even with -100's tomorrow and Friday, I will still end the week in profit. Only $0.19 but hey, it's a small account

Nice one, Microsuck.

thats the beauty of this system..well not a perfect system but it suit with me just fine..

Anyway good luck for today and happy chinese new year...guys
  • #2,439
  • Feb 6, 2008 8:06pm Feb 6, 2008 8:06pm
Quoting booktimes
I feel if anything we will have a down tonight, the 200ema is offering strong support on daily, 4 hr and 1 hr timeframes.
respect
Tom(uk)

I agree, but I will wait for the EA to enter. If it does, my fib is targeting 207.09
  • #2,440
  • Feb 6, 2008 8:10pm Feb 6, 2008 8:10pm
For everybody who celebrate Chinesse new year, Gong Xi Fat Choi.

For others else, good luck with the trade today
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