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Trend Finder Daily

  • #161
  • Jun 18, 2008 8:56pm Jun 18, 2008 8:56pm
I think a trailing stop of 50 pips will do wonders for the second lot by locking in some pips. Let us know what the trailing stop of 50 pips does for your results.
  • #162
  • Jun 18, 2008 9:03pm Jun 18, 2008 9:03pm
Quoting FXHOUND
short USD/CHF
short USD/JPY
short GBP/JPY
short GBP/CHF
short EUR/CHF
long CHF/JPY
short AUD/CAD
Took all those myself, except AUD/CAD....according to this system, they all look like good trades. Good pipping luck to us all!
  • #163
  • Jun 18, 2008 9:13pm Jun 18, 2008 9:13pm
Hello everyone, sorry about having no signals today. Someone ran into a power line on our road and I couldn't get online until now. I'm going to post what trades I would have taken in a few minutes.
  • #164
  • Jun 18, 2008 9:18pm Jun 18, 2008 9:18pm
GBP/JPY Short
GBP/CHF Short
AUD/CAD Short
USD/CHF Short
USD/JPY Short
EUR/CHF Short


I am going to manually track these as if I had entered at the open of the candle for statistics purposes.

Also, EUR/USD has reached +50, so there is now a break even stop loss for both trades.
  • #165
  • Jun 18, 2008 9:19pm Jun 18, 2008 9:19pm
Will be answering questions in a few moments, gotta get my clocks reset
  • #166
  • Jun 18, 2008 9:27pm Jun 18, 2008 9:27pm
Quoting FXHOUND
short USD/CHF
short USD/JPY
short GBP/JPY
short GBP/CHF
short EUR/CHF
long CHF/JPY
short AUD/CAD
Hello,

The reason I did not long CHF/JPY is because there has not yet been a reverse signal since the last long.
  • #167
  • Jun 18, 2008 10:37pm Jun 18, 2008 10:37pm
Quick question for Ron, the EA Meister....

Bull101 has stated that he will take a trade if one appears within the first 10 minutes of the new day's bar.

Does your EA do that? or will it take a trade anytime during the day a valid signal appears?

thanks....
  • #168
  • Edited 1:29am Jun 19, 2008 1:14am | Edited 1:29am
Goodmorning everyone,
I know most of you are still just crossing the midnight zone, over here its already sunny and bright, I am in the UK,
Just wanted to make sure if this chart shows a signal

xrunner
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 24 KB
  • #169
  • Jun 19, 2008 1:32am Jun 19, 2008 1:32am
Hi BUll

Its quite come great system you have out together here, i really like its simplicity. I have though been using the EA but i want to understand the system manually. My broker's (FXPRO) time is GMT+3, what time shoulg i then look up the chart to setup my trades.

Thank you.
  • #170
  • Jun 19, 2008 1:55am Jun 19, 2008 1:55am
Quoting xrunner
Goodmorning everyone,
I know most of you are still just crossing the midnight zone, over here its already sunny and bright, I am in the UK,
Just wanted to make sure if this chart shows a signal

xrunner
Hello xrunner,

You are 100% correct. That is a short entry signal.

Thanks!
Bull101
  • #171
  • Jun 19, 2008 1:56am Jun 19, 2008 1:56am
Quoting ventis
Hi BUll

Its quite come great system you have out together here, i really like its simplicity. I have though been using the EA but i want to understand the system manually. My broker's (FXPRO) time is GMT+3, what time shoulg i then look up the chart to setup my trades.

Thank you.
Hello ventis,

Thank you for your compliments. To ensure that you are able to follow along correctly, I recommend you open a demo account with ODL. Their daily bar opens at 0:00 GMT. That is where I find my entry signals, and then pass them to my live account.

Thanks,
Bull101
  • #172
  • Jun 19, 2008 2:05am Jun 19, 2008 2:05am
thanks for your prompt reply. how does this strategy perform during any major news as it affects the cuurency pair in question? I hope you get my question right.

Thank you.
  • #173
  • Jun 19, 2008 2:12am Jun 19, 2008 2:12am
http://img205.imageshack.us/my.php?image=gbpusdou5.gif
i want to draw your attention on this.
as you can see there was a signal where the red thumbs up is. however, before moving further upward with the trend, it went down 100 pips, thus you would have been stopped out.
what do you do in situations like this, where you get stopped out in the very beginning, but afterwards the trend goes your way ?
Twitter: @forexpokerpro
  • #174
  • Jun 19, 2008 3:19am Jun 19, 2008 3:19am
Quoting BBPI_fxtrader
http://img205.imageshack.us/my.php?image=gbpusdou5.gif
i want to draw your attention on this.
as you can see there was a signal where the red thumbs up is. however, before moving further upward with the trend, it went down 100 pips, thus you would have been stopped out.
what do you do in situations like this, where you get stopped out in the very beginning, but afterwards the trend goes your way ?
In this case you were so close to staying in, it was probably the difference in the spread that knocked you out. Its amazing how often a 100 pip stop will get hit but the trade comes back and is a winner. Some options are:

 

  1. accept this as the nature of the beast, sometimes it happens and look for the next trade
  2. apply the same system to a 1 hr chart and look for another entry
  3. have a look at Jacko's forex house of pleasure and pain anti-hedging strategy
  4. apply normal trading techniques to get back in, at 10 am gmt there was divergence, quasi hammer and a couple of other reasons to have got in around 1.95

  • #175
  • Jun 19, 2008 4:13am Jun 19, 2008 4:13am
Bull101,

in your money management and exit strategy section you say that one should open 2 trades for a signal and together they should not risk more than 3% of one's account.
you have 10 open trades now. how is you money management on these trades ?
because i'm sure you won't risk 20-30% of your acccount at any time, or would you ?
Twitter: @forexpokerpro
  • #176
  • Jun 19, 2008 5:55am Jun 19, 2008 5:55am
Quoting Dl1982
I think a trailing stop of 50 pips will do wonders for the second lot by locking in some pips. Let us know what the trailing stop of 50 pips does for your results.
...so far... EURUSD went +4 pips (breakeven)... all the other orders still open, causing me stomach pain when i look at them...

i have to correct myself, SL im using is 45 not 50 pips. but okay... anyway im taking notes of everything for analysis...


could someone tell me... i really forgot since i read to much different things yesterday... my trade stays open until it hits SL or TP, right? i would not close it just because a new candle begins?
and then... what if the trade stays open... and i get a complete reversal signal? i mean, i wouldnt go short and long on the same pair at the same time? anyone had a situation like that already?
My charts look like the Matrix
  • #177
  • Jun 19, 2008 7:02am Jun 19, 2008 7:02am
update...

EURGBP and USDCHF got both stopped out at -100... that hurts...

EURAUD seems to move the right direction... giving me some hope...

balance for now -196 pips... okay, i consider this unlucky start and will give it a few weeks... since i see u guys having some result with this...
My charts look like the Matrix
  • #178
  • Jun 19, 2008 8:35am Jun 19, 2008 8:35am
Quoting Bull101
Hello xrunner,

You are 100% correct. That is a short entry signal.

Thanks!
Bull101
Bull101....your short entry rules for this system state:

Short Entry Criteria:
1. The Awesome Oscillator has changed to red.
2. The Stochastic Histogram has changed to red.

On xrunner's chart the Stoch Histogram did change from green to red. But the AO didn't change to red....it was already red from the day before. I thought they both had to change at the same time from green to red or vice versa for a long signal. What am I missing here?
  • #179
  • Jun 19, 2008 8:50am Jun 19, 2008 8:50am
Quoting GRPip
Bull101....your short entry rules for this system state:

Short Entry Criteria:
1. The Awesome Oscillator has changed to red.
2. The Stochastic Histogram has changed to red.

On xrunner's chart the Stoch Histogram did change from green to red. But the AO didn't change to red....it was already red from the day before. I thought they both had to change at the same time from green to red or vice versa for a long signal. What am I missing here?
GRPip

you have to go back and read the posts that B101 has written, he has already clarified this aspect about the bars not needing to change colours both at the same time, nor there is any specific rule regarding which one changes first. When one changes colour to match the other one regardless of the fact that the other one was already of the same colour then its a signal.
He also mentions that he won't consider a signal if its a repeat one, he will wait for the opposite signal in that case.
Hope this explains, but if still in doubt you got to go back and read all the posts he has written

xrunner
  • #180
  • Jun 19, 2008 9:47am Jun 19, 2008 9:47am
Quoting mrkam
Quick question for Ron, the EA Meister....

Bull101 has stated that he will take a trade if one appears within the first 10 minutes of the new day's bar.

Does your EA do that? or will it take a trade anytime during the day a valid signal appears?

thanks....

My EA takes the signals as it sees them.


Bull, is this "Time Window" an absolutely important part of your system?
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