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We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #181
  • Apr 14, 2008 7:26am Apr 14, 2008 7:26am
Quoting MJurban
i had to do somethig, so i cuold not trade. But looking at M15 Chart EURUSD gives clear trend setup

i wonder if its Ok if one schitches the TF from m5 to h1 if it looks better in the higher TF?
I think you have everything you need on 1 timeframe. I don't know about you guys but I can put a period separator on my charts in every hour/five minutes. If you can do this, it will make your life a lot easier.
Peace
  • #182
  • Apr 14, 2008 7:28am Apr 14, 2008 7:28am
Quoting MJurban
already 108 pips long swing, should one go for more or better not?

well, I should stay put if I were you. This morning we have 2 anouncements
Peace
  • #183
  • Apr 14, 2008 8:37am Apr 14, 2008 8:37am
+48 pips racked today on EU with this good setup , used 20 pips sl and 20 pips trailstop, unfortunately connection to broker was interrupted so trail stopped a little bit early but I'm happy with this result
The more I trade the more I like this simple and effective system , thx Feb
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 110 KB
  • #184
  • Apr 14, 2008 8:47am Apr 14, 2008 8:47am
Quoting feb2865
I can put a period separator on my charts in every hour/five minutes. If you can do this, it will make your life a lot easier.

Thats what i'm searching for. If somebody can code it for MT4. At the moment i take the time and put them manually for one day :-D

okay i'm stupid in the moment i was writing this i came to the idea to use the cycle lines in MT4, and 12*5Min bar is one hour :-D
  • #185
  • Apr 14, 2008 8:56am Apr 14, 2008 8:56am
Nice trade Skyline. You've already constructed an EA for Feb's latest thread?
I see your Inter won.
  • #186
  • Apr 14, 2008 8:56am Apr 14, 2008 8:56am
Quoting skyline
+48 pips racked today on EU with this good setup , used 20 pips sl and 20 pips trailstop, unfortunately connection to broker was interrupted so trail stopped a little bit early but I'm happy with this result
The more I trade the more I like this simple and effective system , thx Feb

Het Skyline

that's cool!!!! did you code something???

Sorry but I am totally naive on this stuff!!

Looks really nice


Glad I could help
Peace
  • #187
  • Apr 14, 2008 9:01am Apr 14, 2008 9:01am
Quoting Rialto
Nice trade Skyline. You've already constructed an EA for Feb's latest thread?
I see your Inter won.
Thx Rialto
Oh that's nothing particular it's only a trailing stop EA but orders are placed manually
Yes Inter rocks , let's hope we will able to win the Serie A championship eheh
  • #188
  • Apr 14, 2008 9:07am Apr 14, 2008 9:07am
Quoting feb2865
Het Skyline

that's cool!!!! did you code something???

Sorry but I am totally naive on this stuff!!

Looks really nice


Glad I could help
Hi Feb,
thx to you and your simple system
I simply coded a little EA for metatrader platform to trail order pips by pips, but the pending orders must be insert manually so it's only a little tool to help me manage them in a better way
  • #189
  • Apr 14, 2008 9:58am Apr 14, 2008 9:58am
Here's a possible trade for EUR/USD

notice the distance between the pullback and the last low - around 29 pips

If you're going to place the stop stop around the pullback, risk/reward will be unbalanced - in case you're shooting for 20 ticks

There's many thing you could do

1) Increase your limit - maybe 40 ticks with a scale out at 20???

2) decrease your stop so it can match 20 ticks

3) place your stop behind the pullback, once you get a fill, trail the stop aggressively moving it manually at the top of every bar down

4) no trade - you have a setup of 20 and you're not going to risk more than that.

5) use an auto-tailing stop 1 tick at the time

old saying on the pits - "there's many ways to skin a cat"
Attached Image (click to enlarge)
Click to Enlarge Name: 4-14-2008.jpg Size: 83 KB
Peace
  • #190
  • Apr 14, 2008 10:06am Apr 14, 2008 10:06am
A side note

I am using fibo's 'cause I think you could have a better view on pullbacks

You can draw just plain horizontal lines and will be fine

Don't make any hard and fast rules other than your money management.

Don't patronize the 50% or 61% ...move along with the market

You don't have to trade every single swing


By the way, I am trading EUR/USD...you can trade anything you like. Just make sure trading cost are included on the risk/reward in case you decide to shoot for something exotic...if you know what I mean
Peace
  • #191
  • Apr 14, 2008 10:09am Apr 14, 2008 10:09am
Quoting feb2865
Here's a possible trade for EUR/USD

notice the distance between the pullback and the last low - around 29 pips

If you're going to place the stop stop around the pullback, risk/reward will be unbalanced - in case you're shooting for 20 ticks

There's many thing you could do

1) Increase your limit - maybe 40 ticks with a scale out at 20???

2) decrease your stop so it can match 20 ticks

3) place your stop behind the pullback, once you get a fill, trail the stop aggressively moving it manually at the top of every bar down

4) no trade - you have a setup of 20 and you're not going to risk more than that.

5) use an auto-tailing stop 1 tick at the time

old saying on the pits - "there's many ways to skin a cat"
Thx for advice Feb !
I would add this :

6) You can still use the 'logical' stoploss above the pullback (around 30 pips) and set the lot accordingly so that the risk will be the same X% amount as previous trade (with X not more than 3% of equity).
  • #192
  • Apr 14, 2008 10:19am Apr 14, 2008 10:19am
Quoting skyline
Thx for advice Feb !
I would add this :

6) You can still use the 'logical' stoploss above the pullback (around 30 pips) and set the lot accordingly so that the risk will be the same X% amount as previous trade (with X not more than 3% of equity).
hey


that's a good one.....

I will definitely put it on the list

thanks a lot Sky!!!!

A side question for you

Is that trailing stop ea send the orders to the server?? you said that it trails the stop 1 tick at a time..so it's adjustable??

I am looking to trade the spot forex. We have on futures yen futures and swiss franc but I personally don't like them. That's one of the reason I am asking as I just started to look for platforms, brokers etc

Sorry for my naive questions
Peace
  • #193
  • Apr 14, 2008 10:38am Apr 14, 2008 10:38am
Quoting feb2865
hey


that's a good one.....

I will definitely put it on the list

thanks a lot Sky!!!!

A side question for you

Is that trailing stop ea send the orders to the server?? you said that it trails the stop 1 tick at a time..so it's adjustable??

I am looking to trade the spot forex. We have on futures yen futures and swiss franc but I personally don't like them. That's one of the reason I am asking as I just started to look for platforms, brokers etc

Sorry for my naive questions
Thx Feb
That EA is designed only to manage a trade already placed manually on the server, btw it's adjustable infact it comes with external parameters : stoploss, takeprofit, trailingstop and risk% , in this way I only send the pending order (buy or sell stop) and the EA calculates automatically the SL ,TP and manages the Trailstop pips by pips.
If you want to test metatrader platform you can download from this link http://www.metaquotes.net/files/mt4setup.exe (it's free!)
  • #194
  • Apr 14, 2008 11:01am Apr 14, 2008 11:01am
Quoting skyline
Thx Feb
That EA is designed only to manage a trade already placed manually on the server, btw it's adjustable infact it comes with external parameters : stoploss, takeprofit, trailingstop and risk% , in this way I only send the pending order (buy or sell stop) and the EA calculates automatically the SL ,TP and manages the Trailstop pips by pips.
If you want to test metatrader platform you can download from this link http://www.metaquotes.net/files/mt4setup.exe (it's free!)

Thanks sky!!

I will look into that
Peace
  • #195
  • Apr 14, 2008 11:47am Apr 14, 2008 11:47am
Quoting skyline
Yes Inter rocks , let's hope we will able to win the Serie A championship eheh

i hope not, i'm a Romanista !
  • #196
  • Apr 15, 2008 2:51am Apr 15, 2008 2:51am
Waiting for break 1.5867 on EURUSD to enter long, what do you think Feb , is this a good setup ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 150 KB
  • #197
  • Apr 15, 2008 3:00am Apr 15, 2008 3:00am
Skyline,
I'm not an expert, but it looks like a valid set up to me. Good trading.
  • #198
  • Apr 15, 2008 3:03am Apr 15, 2008 3:03am
Ciao Skylline,

I am with you on this set up, it touched on the proir high in the ret. May get a move to the high of yesterday.

Jarret
  • #199
  • Apr 15, 2008 3:23am Apr 15, 2008 3:23am
ouch!

I was watching the set up on Fx euro futures and Fx mini euro. I was in by 1 tick on Fx euro at an entry of 3 above the high, on mini I would not have been tripped into the trade.
  • #200
  • Apr 15, 2008 3:41am Apr 15, 2008 3:41am
Quoting Jarret
Ciao Skylline,

I am with you on this set up, it touched on the proir high in the ret. May get a move to the high of yesterday.

Jarret
Hi Jarret,
the market chooped a little bit and my sl was hit
Ok no worry only 3% lost , I'll try again to find another good setup
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