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Gamblers 5 and 15 minute trading system

  • #161
  • May 3, 2008 11:54am May 3, 2008 11:54am
Gambler.. I applied my same thinking (distance moved as filter ect...) to e/u daily since jan 08, I'm up 1100 pips... I've been looking for a daily setup... maybe I can use this... great. Next stop.. test g/u Thanks for the instigation to use this type of thinking on daily!

edit: g/u 1700 for 2800 pips trading relaxed on daily candles this year for $28k.. alright... thanks for the info guys.. I'm off to trade this Goodluck all! (My testing had no losers so far btw... just a few that would be at break even)


Quoting Gambler180
That's a good idea but the size of the candles does not have much to say if you trade the daily candles as I do
DireXiv Make it happen, no one else is going to do it for you...
  • #162
  • May 3, 2008 12:44pm May 3, 2008 12:44pm
Quoting LelioFX
What pairs and time frames do you usually trade ? Thanks.
WORK WITH 4H E T/P of 20 PIPS + SPREAD
  • #163
  • May 5, 2008 8:22am May 5, 2008 8:22am
I am going to start trading this system today. Let u now how it goes
SA World Champs
  • #164
  • May 5, 2008 2:41pm May 5, 2008 2:41pm
Here is a good trade. As I have said before the size of the candles does not have much to say when trading on the daily chart but when I only make one trade each day I of course look for trades with the highest risk to reward ratio.

http://img223.imageshack.us/img223/6623/forexlb9.jpg
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #165
  • May 6, 2008 5:32am May 6, 2008 5:32am
Gambler... I took the same trade... what is your strategy for this trade... take profit area, get out area? Now that you've entered what are you looking for.

Quoting Gambler180
Here is a good trade. As I have said before the size of the candles does not have much to say when trading on the daily chart but when I only make one trade each day I of course look for trades with the highest risk to reward ratio.

http://img223.imageshack.us/img223/6623/forexlb9.jpg
DireXiv Make it happen, no one else is going to do it for you...
  • #166
  • May 6, 2008 9:04am May 6, 2008 9:04am
Quoting DireXiv
Gambler... I took the same trade... what is your strategy for this trade... take profit area, get out area? Now that you've entered what are you looking for.
I just close the trade the next day if it is in profit. If it is not in profit I wait until it either is in profit or until I get a signal in the opposite direction.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #167
  • May 6, 2008 11:31am May 6, 2008 11:31am
Here is a graph that shows the performance of the system for the past 3 trading days.

http://img88.imageshack.us/img88/4397/unavngivetwp4.png
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #168
  • May 6, 2008 11:42am May 6, 2008 11:42am
It looks this system can also be trade profitably for the following commodities and indexes. gold, silver, palladium, platinum, DAX, Dow Jones, FTSE 100, Nasdaq 100, S&P 500. Does anyone know what the 100 and 500 numbers mean.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #169
  • May 6, 2008 1:20pm May 6, 2008 1:20pm
Ok... i took 84 on that e/u trade... i had a signal tell me that may be all it moves up for at least awhile... Thanks Gambler. This looks promising for me. From what I've seen even if you get drawdown... you still get in positive pips most of the time later one... Nice.... still more testing to be done for me


Quoting Gambler180
I just close the trade the next day if it is in profit. If it is not in profit I wait until it either is in profit or until I get a signal in the opposite direction.
DireXiv Make it happen, no one else is going to do it for you...
  • #170
  • May 6, 2008 4:12pm May 6, 2008 4:12pm
Quoting DireXiv
Ok... i took 84 on that e/u trade... i had a signal tell me that may be all it moves up for at least awhile... Thanks Gambler. This looks promising for me. From what I've seen even if you get drawdown... you still get in positive pips most of the time later one... Nice.... still more testing to be done for me
I'm glad I could help
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #171
  • May 6, 2008 4:32pm May 6, 2008 4:32pm
How many are actually using this system?
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #172
  • May 6, 2008 4:54pm May 6, 2008 4:54pm
Gambler... you are a legend...

I am trading this system on the hour time frame... and it works a treat, there are losses, but you have to cut these losses and I stick to the rules!

Can you see the entries here?

Soon as you close a previous high or low, go in that direction, the previous bar being your SL.

TP, move to break even after the first hour and close out when you see a reversal.

Though when I get to 20 pips, I move SL to 10 pips, just incase you do not get into a move.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hour gbpusd.gif Size: 12 KB
  • #173
  • May 6, 2008 5:04pm May 6, 2008 5:04pm
I am watching Good Fellas... at the moment... legendary film on sky two and am in the a trade at the moment... cause I am bored and am testing the system, shouldn't really be trading now... but hey, what the hell, SL and TP in place, and let it do it's business for now.

Quoting guess121
Gambler... you are a legend...

I am trading this system on the hour time frame... and it works a treat, there are losses, but you have to cut these losses and I stick to the rules!

Can you see the entries here?

Soon as you close a previous high or low, go in that direction, the previous bar being your SL.

TP, move to break even after the first hour and close out when you see a reversal.

Though when I get to 20 pips, I move SL to 10 pips, just incase you do not get into a move.
  • #174
  • May 6, 2008 5:49pm May 6, 2008 5:49pm
well... i am off 2 bed... closed trade for 4 pips..



Quoting guess121
Gambler... you are a legend...

I am trading this system on the hour time frame... and it works a treat, there are losses, but you have to cut these losses and I stick to the rules!

Can you see the entries here?

Soon as you close a previous high or low, go in that direction, the previous bar being your SL.

TP, move to break even after the first hour and close out when you see a reversal.

Though when I get to 20 pips, I move SL to 10 pips, just incase you do not get into a move.
  • #175
  • May 7, 2008 8:04am May 7, 2008 8:04am
Quoting Gambler180
It looks this system can also be trade profitably for the following commodities and indexes. gold, silver, palladium, platinum, DAX, Dow Jones, FTSE 100, Nasdaq 100, S&P 500. Does anyone know what the 100 and 500 numbers mean.
It's a number of firms that included into these indexes

Anybody know how to use ATR indi in positioning SL and TP? Like SL and TP must be 5x or 4x ATR21? Never used it before.

Regards
  • #176
  • May 7, 2008 9:11am May 7, 2008 9:11am
I don't know if I am right but I tough that the entry will be more at the next candle, for me the rule is when the candle broke the last bull candle opening for a sell or oposite for a buy, maybe I am wrong!!!


Quoting guess121
Gambler... you are a legend...

I am trading this system on the hour time frame... and it works a treat, there are losses, but you have to cut these losses and I stick to the rules!

Can you see the entries here?

Soon as you close a previous high or low, go in that direction, the previous bar being your SL.

TP, move to break even after the first hour and close out when you see a reversal.

Though when I get to 20 pips, I move SL to 10 pips, just incase you do not get into a move.
  • #177
  • May 7, 2008 9:47am May 7, 2008 9:47am
So far so good

http://img137.imageshack.us/img137/7...vngivetsy0.png
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #178
  • May 8, 2008 5:36am May 8, 2008 5:36am
What seems to be working quite nicely is looking at fundamental data to support you intraday trend.

I watch the SWFX Market Sentiment Index http://www.dukascopy.com/swiss/engli...cts/sentiment/
and read there Newsletter with Market Expectation.
Shorted the Euro yesterday once price action told me to and made a nice gain.
  • #179
  • May 8, 2008 5:53am May 8, 2008 5:53am
Hi,

You could use Laguerre for entry confirmation and Pivot-Lines for target.

DO NOT ENTER IF LAGUERRE POINTS INTO THE OPPOSITE DIRECTION.

Targets could be:

  1. The price reaches a daily/weekly Support/Resistance/Pivot-Level.
  2. Exit if the price closes above the middle line (Bollinger Bands).

Do not forget to calculate your RR.

Last entry (long):

Risk: 33 Pips (From Entry to previous candle low)
Reward: to Daily Pivot: 58 Pips
--> Risk:Reward --> 1:1.75

That is actually a bad RR. It should be at minimum 1:2.


-------------------------------
Look at the previous blue short entry near the daily pivot.
Risk: only 14 Pips
Rward: to near S1: 116 Pips.

--> Risk:Reward --> 1:8.28 (That’s a great RR, you are risking only 14 Pips for a 116 Pip gain)

Do not risk more than 2% of your account per Trade.
E.G. account with 100 USD and trading Micro lots: Do not risk more than 20 Pips a trade with this scalping method.

WSAStartup

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_laguerre.gif Size: 25 KB
  • #180
  • May 8, 2008 8:17am May 8, 2008 8:17am
I'd not call 1:1.75 a bad ratio. Even with 1:1 you'd only need 50% success.
I have moved away from looking on oscillators for confirmation.
Only 3 MAs for visual confirmation fundamental data and price action and trading times.
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