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  • #1,761
  • Jun 13, 2008 11:41am Jun 13, 2008 11:41am
I personally didn't take the GU trade but took an EJ short. The reason I did this was on GU there was lots of support across daily, 4 hourly and hourly.

On EJ the support was really mainly on the hourly rather than crossing a number of periods, so I thought this was worth it.

I actually got stopped on EJ and I think it was a poor trade as it was put on on a friday afternoon. Generally the big traders and movers are probably winding down at this point and its really only the speculators active in the market. I think this is evidenced as it broke lower for a bit but then reversed pretty quickly. Depending on how you look at this it could be people playing the market or simply people going short and getting out.

Either way a bad trade, but I think they show how I react around support and why I chose to trade in 2 different ways.

I have attached a weekly GU to show support and a daily EJ. The point being on GU there is alot across a number of timeframes, on EJ there isn't. That was why I approached them in different ways.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY.JPG Size: 115 KB
Click to Enlarge Name: GBPUSD.JPG Size: 101 KB
  • #1,762
  • Edited 12:09pm Jun 13, 2008 12:06pm | Edited 12:09pm
Quoting NowAndLater
18,8% in one week is awesome man

Look I understand why you took them. Here's why I would like to wait for the breakout: Next big support is probably around 1.9200-1.9150 which still is about 200-250 pips away. So if I give up say 50 pips to get the rest when I feel more certain that it's going to break out I'm happy with what I will get then. A break of the support area with a retest, then the risk for me would be reduced to a level I'm comfortable with. The EUR was in same shape and next support might be the 1.5000 level so again same thought as with the cable.

Anyway I had moved my stops on the trades that were still riding from yesterday after seeing a bit of a reversal for the USD (in general on the majors) on both the GU- and UJ-trade and they were hit this afternoon. Very good week and will see what next week might bring, maybe a break or maybe a bounce.

Questions about infiniteyield and firststrike: Did you stop and reverse and how much do you risk on each pair? I'm in demo since two weeks and this week was obviously a huge winner (I think more thank 1000 pips) if you stopped and reversed EU, GU and UCHF.

Great weekend all!
We'll see how awesome it is when the next drawdown happens ! I take mighty big risk in that account... 7% per trade, so naturally its returns are pretty nice... the drawdowns are brutal though.
As far as FirstStrike goes, no I don't take the second entry. I've decided not to, and once that decision is made, I can't allow myself to be tempted to alter it, even though it would have produced better returns this week. Sure, it worked this time, but you can definitely get whacked on both entries. If you take the second entry, I think that's just fine, as long as you do it consistently every week. If you start taking it and then not taking it based on how it worked the previous go-round, you are very likely going to make your returns even worse over time. If you have some kind of identifiable edge in making the decision to take or pass on the second entry, feel free to share it!
Assuming no major disasters in GBP/JPY or USD/JPY before 4pm, just taking the 1st entries netted me 300+ pips this week. Not as good as 1000+, but still... I'll take it.
Oh... and I risk 1.5% per pair in the account that I trade F/S and ONS and other trades that Joel sends out.
  • #1,763
  • Jun 13, 2008 12:18pm Jun 13, 2008 12:18pm
Quoting foxx
HI JARRO and all of u gyes in your chart of eur/usd,at 5 gmt u considerd this bar an IB even it's high 1.5452 is higher than the previous candle 1.5451 . can we consider it an IB ? and if this IB high was 1.5451,and the previous candle has ahigh of 1.5451 can we consider it IB?
I made mistake on that. It was not an IB. It just happened to work out. I will try not to make that mistake again in the future.
Indicators show the past. Price Action "Indicates" the future.
  • #1,764
  • Jun 13, 2008 12:28pm Jun 13, 2008 12:28pm
Quoting rpasupathy
Oksana,

Thanks a lot for the indicator ....

Just a small suggestion -- is it possible to rename "Jarroo Indicator" with some versions ...

Jarroo_Indicator_v1 (Version 1)
Jarroo_Indicator_v2 (version 2)

It helps us to easily identify what one wants !!

Cheers and hats off to you ...
Let's just keep it "Jarro Indicator", because each modification makes it better looking.
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  • #1,765
  • Jun 13, 2008 12:29pm Jun 13, 2008 12:29pm
Quoting ciscoguy
Thanks! Now I can trade DIBS -and- get some sleep.
Your welcome
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  • #1,766
  • Jun 13, 2008 12:46pm Jun 13, 2008 12:46pm
UsdJpy H1 Chart.
I don't think it will break the resistance. H4 says strong down.
Previous trades were EXCELLENT!!!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 13 10.44.jpg Size: 44 KB
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  • #1,767
  • Edited 3:15pm Jun 13, 2008 1:56pm | Edited 3:15pm
Hi Oksana, could kindly insert an option to maintain high and low levels of the inside bar as resisteance and support for all the bars in the day?
In this way, not only the next bar is good to broke the resistance or the support, but the other bars too (I seem that Jarroo said that this is a valid way to trade).

Finally, is there the possibility to consider 5.00 GMT as the opening bar, with which consider if the day is up or down?

Thank you!
  • #1,768
  • Jun 13, 2008 2:32pm Jun 13, 2008 2:32pm
Hi
I just noticed that the three broker's charts that I use each one shows different candle fills, is this usual? I haven't analysed it in details still as I am still shuffling between charts and getting to grips with the system and using the demo versions, but I am wondering if the size of the candles are different then surely it must affect the triggers,
can someone please help me understand this?
thanks

xrunner
Attached Image(s) (click to enlarge)
Click to Enlarge Name: alpari.gif Size: 41 KB
Click to Enlarge Name: fxcm.gif Size: 39 KB
Click to Enlarge Name: fxdd.gif Size: 32 KB
  • #1,769
  • Jun 13, 2008 2:46pm Jun 13, 2008 2:46pm
Quoting xrunner
Hi
I just noticed that the three broker's charts that I use each one shows different candle fills, is this usual? I haven't analysed it in details still as I am still shuffling between charts and getting to grips with the system and using the demo versions, but I am wondering if the size of the candles are different then surely it must affect the triggers,
can someone please help me understand this?
thanks

xrunner
They must have different time when the new day begins. If you look at the H1 I think you'll find it more similar. My chart looks like 1 and 3, that middle chart looks way off. This is also the trouble that you get when looking at H4 charts, different brokers will give different bars because of different times when the candle starts. But for the daily I think you should use 1 or 3.
  • #1,770
  • Jun 13, 2008 2:57pm Jun 13, 2008 2:57pm
Quoting NowAndLater
They must have different time when the new day begins. If you look at the H1 I think you'll find it more similar. My chart looks like 1 and 3, that middle chart looks way off. This is also the trouble that you get when looking at H4 charts, different brokers will give different bars because of different times when the candle starts. But for the daily I think you should use 1 or 3.
NAL
you are absolutely right, when I switch to H1 the candles are similar, its only the H4 and D1 that differ and in there also only the FXCM charts seem different. Just like you said, the 1 and 3 seem to be following the same pattern.
This was extremely helpful, thank you very much for clarifying
  • #1,771
  • Jun 13, 2008 6:13pm Jun 13, 2008 6:13pm
Hello traders!!!
I've made the indicator better, I hope. It shows when the market broke the high of the IB, even if the market broke the low, it still shows the level of the high/low IB, until a new inside bar forms. Also, true/false popup alerts, and true/false email alerts. You can set a configurable parameter how much pips it should break the high low for a signal. You'll be surprised at how the results change if You set the "PipsBreakIB" parameter to a higher value.
Have fun!!! And good trading!!!
Oksana17.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 13 16.09.jpg Size: 103 KB
Attached File(s)
File Type: ex4 Jarroo Indicator.ex4   4 KB | 883 downloads
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  • #1,772
  • Jun 13, 2008 6:22pm Jun 13, 2008 6:22pm
Update for UsdJpy(IB formed),
GbpUsd(below previous IB),
EurUsd(broke IB above),
GbpJpy(IB formed),
EurJpy(between previous IB).
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Jun. 13 16.19.jpg Size: 160 KB
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  • #1,773
  • Jun 13, 2008 7:11pm Jun 13, 2008 7:11pm
Quoting Oksana17
Hello traders!!!
I've made the indicator better, I hope. It shows when the market broke the high of the IB, even if the market broke the low, it still shows the level of the high/low IB, until a new inside bar forms. Also, true/false popup alerts, and true/false email alerts. You can set a configurable parameter how much pips it should break the high low for a signal. You'll be surprised at how the results change if You set the "PipsBreakIB" parameter to a higher value.
Have fun!!! And good trading!!!
Oksana17.
Thanks a lot!!
  • #1,774
  • Jun 13, 2008 7:13pm Jun 13, 2008 7:13pm
Quoting Oksana17
Hello traders!!!
~~ You'll be surprised at how the results change if You set the "PipsBreakIB" parameter to a higher value.
Is this per strike rate or profit per risk?
I assume if you required the breakout to be of the outside bar instead of the inside bar, the strike rate would increase considerably. However due the expanded stop loss the profit as per risk/return would be way down.
Good Trading
  • #1,775
  • Jun 13, 2008 7:28pm Jun 13, 2008 7:28pm
Quoting cChris
Thanks a lot!!
You are VERY welcome my friend!
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  • #1,776
  • Jun 13, 2008 7:30pm Jun 13, 2008 7:30pm
Quoting aud
Is this per strike rate or profit per risk?
I assume if you required the breakout to be of the outside bar instead of the inside bar, the strike rate would increase considerably. However due the expanded stop loss the profit as per risk/return would be way down.
It depends on where You put Your StopLoss. I don't keep my sl at previous low(in a buy)thoughout the whole trade. That would not make sense, because the market won't reach Your TakeProfit 10 pips, and then reverse to get You in a loss. It depends...
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  • #1,777
  • Jun 13, 2008 8:56pm Jun 13, 2008 8:56pm
Quoting Oksana17
Let's just keep it "Jarro Indicator", because each modification makes it better looking.
Thanks a lot Oksana.

Keep it going ... Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,778
  • Jun 13, 2008 9:00pm Jun 13, 2008 9:00pm
Quoting Oksana17
Hello traders!!!
I've made the indicator better, I hope. It shows when the market broke the high of the IB, even if the market broke the low, it still shows the level of the high/low IB, until a new inside bar forms. Also, true/false popup alerts, and true/false email alerts. You can set a configurable parameter how much pips it should break the high low for a signal. You'll be surprised at how the results change if You set the "PipsBreakIB" parameter to a higher value.
Have fun!!! And good trading!!!
Oksana17.
Just starting to use MT,these DIBs EAs and indcators for this method have made it worthwhile.

Thanks for providing these.
  • #1,779
  • Jun 13, 2008 9:16pm Jun 13, 2008 9:16pm
Ive been going over this weeks trades. Some I took on demo and some live. Ive been trying to optimize profits. If i had taken every trade that presented itself on my 8 pairs (The 4 majors, $/Cad, E/J,G/J,NZ/$) for the first 6 hours from 5 GMT, using 2% risk & bringing stop to BE on 1:1,and closing out at 19 GMT. Profit would have been a little over 40% . Hindsight is a wonderful thing, so Im going to be more scientific next week and see how it goes. I have been using a 12 and 48 ema on 15 minute chart as a filter for my live trades and only taking them in that direction.
FF journal: Peaks and Troffs
  • #1,780
  • Jun 13, 2008 9:23pm Jun 13, 2008 9:23pm
Quoting RRothschild
Just starting to use MT,these DIBs EAs and indcators for this method have made it worthwhile.

Thanks for providing these.
Your welcome
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