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"The Pip Nailer". Any time frame, any pair

  • #761
  • May 12, 2008 8:13am May 12, 2008 8:13am
Quoting piprac
I am very anxious to use this strategy but it and MT4 are both new to me so slow-I-go. Two questions:
1. The Dashboard indicates how the 3 indicators line up on a particular pair, it does not enter the pr. automatically, right?
2. I have conflicting notes on this one and can't find the original posts: does the AC & AO bars have to change colors from the preceding bars or just agree in color between the two (along with a PSAR reversal of course)?
Thank you for a great thread and reading it made a very rainy Sat pass quickly plus I now know my descretionary observations stink, I need a more mechanical strat. such as this. Thank you all
if the psar changes from bottom to top AND the AO and AC turn red go SHORT

if the Psar changes from top to bottom AND the AO and AC turn green go
LONG

ALL AT THE SAME TIME ON THE SAME CANDLE
BOTH AC AND AO changing colors at the same time from what they BOTH were(Yes they both have to have been the same color prior to the nailed candle AO and AC changing)
MANY EXAMPLES OF NAILED CANDLED CHARTS ON THREAD...706,751,728....(757) made some PIPS for the gentleman but is not a nailed candle per the rules but it worked out for him. There are some false alerts on the dashboard so you will have to verify if trading manually. change shift signal to 0 on the dashboard you will get in earlier. Good Luck.
  • #762
  • May 12, 2008 8:52am May 12, 2008 8:52am
Hey guys + Forexmoments...

Can anybody tell me wether my trade was a nailed candle or not? I had the signal from the v1.4 dashboard, waited until that candle closed. How can it not be right if the Dashboard 1.4 picked it up, the chart seems fine to me?

Can anybody expand on the trade i did and maybe explain why/how it wasn't a nailed candle IF thats the case? Im happy to learn why if i did do something wrong

MT4 im using is by Alpari just incase somebody wants to know. I had 3 other systems confirm it as a valid signal.

Thanks guys for any help
  • #763
  • May 12, 2008 9:04am May 12, 2008 9:04am
Quoting WilteredFire
Hey guys + Forexmoments...

Can anybody tell me wether my trade was a nailed candle or not? I had the signal from the v1.4 dashboard, waited until that candle closed. How can it not be right if the Dashboard 1.4 picked it up, the chart seems fine to me?

Can anybody expand on the trade i did and maybe explain why/how it wasn't a nailed candle IF thats the case? Im happy to learn why if i did do something wrong

MT4 im using is by Alpari just incase somebody wants to know. I had 3 other systems confirm it as a valid signal.

Thanks guys for any help
Hi, completely new to the thread but having just read the rules, the way i read them, your trade wasn't valid - the AO and AC should change from one colour to another (red to green or green to red) as well as the PSAR switch, on the same candle, to be classed as a 'nailed' candle....so for your long in the chart you posted, the AO and AC should be changing from red to green....they were both already green, so not a nailed candle.

Pipsnagger's post# 751, is the last post of a nailed candle, for reference.
  • #764
  • May 12, 2008 12:07pm May 12, 2008 12:07pm
Quoting WilteredFire
Hey guys + Forexmoments...

Can anybody tell me wether my trade was a nailed candle or not? I had the signal from the v1.4 dashboard, waited until that candle closed. How can it not be right if the Dashboard 1.4 picked it up, the chart seems fine to me?

Can anybody expand on the trade i did and maybe explain why/how it wasn't a nailed candle IF thats the case? Im happy to learn why if i did do something wrong

MT4 im using is by Alpari just incase somebody wants to know. I had 3 other systems confirm it as a valid signal.

Thanks guys for any help
It was just the chart you posted was not a nailed candle. If you verified on another broker and it alerted on the dashboard than you were good to go. Better to post the nailed candle chart to avoid confusion.
  • #765
  • May 12, 2008 3:34pm May 12, 2008 3:34pm
hey guys,

i managed to read the thread yesterday from the beginning to the end, but i was struggling to see exactly what is a nailed candle and what is not, i couldn't differenciate properly between the two.

But thanks, I think i understand what a nailed candle is, and yeh thats right, my chart i posted was invalid even though the trade turned out to be good.

Thanks so much for the advice and help!
Cheers
  • #766
  • May 12, 2008 6:39pm May 12, 2008 6:39pm
thanks to you both, I've got it now. Loading the Dashboard will be a test for me but I'll get there. thanks again, piprac
  • #767
  • Edited 5:58am May 13, 2008 5:15am | Edited 5:58am
usdjpy in the process of signalling long...i'll be taking this as a first test trade at the open of the next 30min bar/candle.

Edit: Long filled and i've now moved stops to breakeven. Will let this run it's course as UJ has a significant amount of resistance to deal with from here.
Attached Image (click to enlarge)
Click to Enlarge Name: AOAC 13th May (1).GIF Size: 55 KB
  • #768
  • May 13, 2008 6:27am May 13, 2008 6:27am
Hows the progress now on the usdjpy trade?

Is it safe to do that though because of 3 high impact news releases for the USD?
  • #769
  • Edited 7:36am May 13, 2008 6:57am | Edited 7:36am
Quoting WilteredFire
Hows the progress now on the usdjpy trade?

Is it safe to do that though because of 3 high impact news releases for the USD?
..still in with stops at breakeven now. I took the trade a couple of hours ago and will let it run it's course through the news. If a signal came within 30 mins of a 'red' data release, i would stand aside.

Edit: Using yesterday's range, i will be taking 80% of the trade off at the 1.382% fib extension (104.60) if it gets that far. Price action may well signal an earlier exit.
  • #770
  • May 13, 2008 7:46am May 13, 2008 7:46am
Quoting ChowClown
..still in with stops at breakeven now. I took the trade a couple of hours ago and will let it run it's course through the news. If a signal came within 30 mins of a 'red' data release, i would stand aside.

Edit: Using yesterday's range, i will be taking 80% of the trade off at the 1.382% fib extension (104.60) if it gets that far. Price action may well signal an earlier exit.
80% of the trade now off for +95. A pleasing start to the testing. I'll leave the 20% runner and follow price with a fib on the developing swing, pulling up as new highs are made. An hourly close below it's 61.8% level will take the runner out.
  • #771
  • May 13, 2008 8:00am May 13, 2008 8:00am
I've been monitoring 15 pairs on their 30mins today (i'm not using the dashboard atm) and the usdjpy short has been the only 'nailed' setup, which to my mind is a good thing, helps stamp squarely on the overtrading demon. I'm watching using ODL's MT4 feed.
  • #772
  • May 13, 2008 8:12am May 13, 2008 8:12am
Didn't get a signal from the dashboard for going long on the 30m usdjpy, doesn't look like a valid signal according to my charts. Anybody else get this one?

Im using Alpari. Looks like you've made yourself some nice pips!
  • #773
  • May 13, 2008 8:22am May 13, 2008 8:22am
Quoting WilteredFire
Didn't get a signal from the dashboard for going long on the 30m usdjpy, doesn't look like a valid signal according to my charts. Anybody else get this one?

Im using Alpari. Looks like you've made yourself some nice pips!
I find it's worth having a few different MT4 feeds running...this trade being a good example why.
  • #774
  • Edited 11:49am May 13, 2008 9:26am | Edited 11:49am
ODL feed again on the 30min eurgbp...long signal pending.

Good luck if anyone takes it.

Edit: Stop moved to breakeven...don't want to give anything back at this stage of the session. It can do what it likes now. Again, i'm using a 138.2% fib extension as a target for 80% of the trade (c 0.8000).

Edit: Stop filled @ b/e.
Attached Image (click to enlarge)
Click to Enlarge Name: EG 13th May (1).GIF Size: 54 KB
  • #775
  • May 13, 2008 1:35pm May 13, 2008 1:35pm
Quoting ChowClown
I find it's worth having a few different MT4 feeds running...this trade being a good example why.
I haven't tried this but I can see the benefits.
  • #776
  • May 13, 2008 2:37pm May 13, 2008 2:37pm
Eur/Usd H1 this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_nailed_13_05_08.gif Size: 28 KB
  • #777
  • Edited 4:50am May 14, 2008 4:47am | Edited 4:50am
30min eurgbp long setting up for the open of next 30min bar/candle....good luck if you take it....4hr setup is setting up SHORT, so caution required.
Attached Image (click to enlarge)
Click to Enlarge Name: EG 14th May (1).GIF Size: 53 KB
  • #778
  • May 14, 2008 5:13am May 14, 2008 5:13am
I'd rather avoid anything below H1 my friend.
  • #779
  • May 14, 2008 5:27am May 14, 2008 5:27am
Quoting forexmoments
I'd rather avoid anything below H1 my friend.
horses for courses...
  • #780
  • May 14, 2008 6:08am May 14, 2008 6:08am
Quoting ChowClown
horses for courses...
Look at price action, couple of Doji's indicate a reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-gbp-m30.gif Size: 23 KB
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