"Trade the slope" journal

Nice to hear that and hope u will share with us?
Thanks

I have attached it in the first post of the thread.

Dear Pete,

Couldn't locate the tweak. Do you mind saying it out?

Thanks,

Lenoxer

Agree with Lenoxer, couldn't find the tweak either. Pls elaborate for us. Thanks.

The link on the webpage goes to the first post in this thread. Maybe the tweak is in main thread and I dont know where that is.

I reposted the system on the first entry.

Moved SL on usd/Jpy to +10

Here ya go guys..............

Stop Loss: A 50 pip stop loss is entered.

Exit: Once you are +100 on the trade you move your stop loss to +10. You keep moving your stop loss +50 for every additional 50 pip move gain you have.

Long Gbp/Usd at 1.9645

Isn't the daily on yours still short? Or did you stop using that?

Benq,

No

Dear Pete,

1) Why did you change your stop loss from 100 to 50 pips?
----did you do some sort of maximum adverse excursion analysis? Can you detail your thinking, please, since that is quite a difference?
2) Have you or others thought of using some sort of time stop. Is there a profile on these trades that if they don't work out in X amount of time they probably won't?

Lenoxer,

I did not do a sophisticated MAE anaylsis. The way my trades have gone and the choppy market, it seems when the loss on an open trade exceeds 50 pips the price will not continue with the daily trend. Another reason is with the reduction of the settings the indicator is much more volatile. This may the reason EMATrader's friend decided on 80 as the setting. This would smooth out the ranging markets we have had as of late. I would like comments on other's recent experiences with the system.

Pete

hi thanks 4 share slopesystem, it's looks very good. r u always open position base on slope change colour in daily chart with confirm on 4h,1h,30m? thanks before..... sorry my english very bad.... hope u can understand.

vyudi,

Yes, I wait until colors are the same for all TF, then I enter.

Pete

dear pete
i have question again, can we try slope base on 4h chart? which timeframe we use to confirm? n how many pips for stop? cos if use daily stop -100 n +10 after profit 100, every 50 move stop +50. am right? thank u before..... ur system very nice....

Eur/Gbp -39
Gbp/Usd -41
Eur/Usd +57
Aud/Usd +45
Nzd/Usd +6

vyudi.

I do not trade off the 4hr. I cannot answer yuor question. You may want to demo it for awhile to get the seetings down.

Pete

ok thank a lot pete. i would try it...

PTOUNIS..

I have noticed that you have eliminated your PL from your Blog. Are you still thinking your method will produce for you? I have to tell you that I have continued to do well. I am demoing and have decided to demo for at least 3 months. I am looking for a good exit. Then I have to test it out.

I always enter when 3 TF are the same color..I am a daily trader.

I trade only major pairs. I would not have enough capital to trade 10 +pairs live so why try...

I have one demo that I am running till the trend color changes. I will post tonight. When I left home it was up 625 pips. This is EMATRADER version. He probably gave us the best exit in his original doc post.

I have another demo that I use a loose Jacko's version on. Only EUR/USD and very discretionary. Trading with trend for this means trading with each daily TF color direction. I use round numbers, Fib. S/R (see actionforex). I am doing ok with this but it has too much discretion. I am probably going to end up entering EUR/USD when the 3 TF match and exit on the daily TF color change. I will add to my position to get ahead.

I have not used a SL so far. Got to work that out.

Again I am demoing and will continue till I am satisfied.

thanks again for exposing this method. It works best for me. To date, my search is over.