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  • #261
  • Jun 20, 2008 7:37am Jun 20, 2008 7:37am
Quoting Farmboy
Have to see what happens either get stopped out or we wont.
You know this is a good post! We have commited to the trade on the Daily timeframe, set our stop loss and now whatever happens happens. Some will win some will lose but we should not worry about what happens during the daily candle.

Sit back relax and check again tonight when the candle closes.
  • #262
  • Jun 20, 2008 7:38am Jun 20, 2008 7:38am
Quoting DaMarcel
Hi Ash and all others,

do you close all of your trades at the end of the week? Or do you just leave them run?

Thanks,
M.
My thoughts are letting it run until stopped out or take profits are hit
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #263
  • Jun 20, 2008 7:51am Jun 20, 2008 7:51am
Quoting ljr
Sit back relax and check again tonight when the candle closes.
I just noticed that the PSAR dot is coincidentally the same as my SL, so this question is kind of moot, BUT... generally if the PSAR or AO changes against the trade before the SL is hit should we close all positions?

Thanks!
-Dave
  • #264
  • Edited 8:50am Jun 20, 2008 8:43am | Edited 8:50am
Quoting Why Oh Why
Thanks for that Steve. Nvwine agrees with you but Ron, the author, clearly stated earlier in this thread it will definitely work in both modes so I'm leaving it alone until he changes his opinion.
Ron, is it possible nvwine and Steve are correct? The EA has been standing by for four days with no trades. Tick mode is false. BTW, he's (the EA now has a sex!) monitoring 12 pairs.
Do not focus on making money; focus on protecting what you have.
  • #265
  • Jun 20, 2008 8:53am Jun 20, 2008 8:53am
Quoting DaMarcel
Hi Ash and all others,

do you close all of your trades at the end of the week? Or do you just leave them run?

Thanks,
M.
If stop loss or take profit hasn't been hit leave them open.
  • #266
  • Jun 20, 2008 9:01am Jun 20, 2008 9:01am
Quoting Why Oh Why
Ron, is it possible nvwine and Steve are correct? The EA has been standing by for four days with no trades. Tick mode is false. BTW, he's (the EA now has a sex!) monitoring 12 pairs.

The problem would be in the order criteria, not the EachTickMode function. I'm still going through the order entry. Something isn't matching up.
  • #267
  • Jun 20, 2008 9:04am Jun 20, 2008 9:04am
Quoting Ronald Raygun
The problem would be in the order criteria, not the EachTickMode function. I'm still going through the order entry. Something isn't matching up.
Thanks a lot mate.
Do not focus on making money; focus on protecting what you have.
  • #268
  • Jun 20, 2008 9:27am Jun 20, 2008 9:27am
USDJPY seems to be the next potential Trade...
Attached Image
Online Prop Firms are not the solution
  • #269
  • Jun 20, 2008 10:22am Jun 20, 2008 10:22am
Quoting logic38
The short on the chf/jpy not looking good at the moment.
it looks more like a strong long.
I normally don’t like trading against the trend like we did with the chfjpy pair. However, when I looked at the charts for this pair I saw that the last 2-3 times this pair reached its high or made a new high it headed South. All the other indicators I check, including the ones for this system, pointed to it going South as well. I must admit though, I don’t pay attention to news when I’m testing a system. I still haven’t given up hope on this trade.

The second half of the my USDCAD trade has stopped out at breakeven. The first half hit its profit target yesterday. So far my record with this system is 1 win (or a half win since the second lot was a breakeven).
  • #270
  • Jun 20, 2008 10:22am Jun 20, 2008 10:22am
Ash,

Regarding the USD/JPY , if all criteria is met at the end of the day, when is entry since this is a Friday.

Pilgrim
  • #271
  • Jun 20, 2008 11:22am Jun 20, 2008 11:22am
Quoting pilgrim
Ash,

Regarding the USD/JPY , if all criteria is met at the end of the day, when is entry since this is a Friday.

Pilgrim
i believe it would be the open of mondays candle
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #272
  • Jun 20, 2008 11:43am Jun 20, 2008 11:43am
Quoting Farmboy
i believe it would be the open of mondays candle

Whatever happens on Sunday or Monday is not going to change the Friday candle in anyway.

The price could move for you or against you between Friday and Monday and will only affect your entry point but your stop would not change so I would be inclined to say place your order immediately after the Friday close.
  • #273
  • Jun 20, 2008 12:14pm Jun 20, 2008 12:14pm
i think usually there is some retracement on the last candle and if going short on USDJPY the swap is actually against you. just some thoughts
Online Prop Firms are not the solution
  • #274
  • Jun 20, 2008 1:01pm Jun 20, 2008 1:01pm
Guys you needn't worry about CHF/JPY. This should hit our TP before our SL. I am very confident about this trade, the resistance is too strong.
  • #275
  • Jun 20, 2008 1:02pm Jun 20, 2008 1:02pm
just be aware, price action on the USD pairs could get choppy the beginning of the week as we have a FOMC statement on Wed afternoon (1:15 pm Eastern).

Pilgrim
  • #276
  • Edited 1:49pm Jun 20, 2008 1:21pm | Edited 1:49pm
Quoting DaMarcel
Hi Ash and all others,

do you close all of your trades at the end of the week? Or do you just leave them run?

Thanks,
M.
EDIT: This is personal preference, but I usually let them run.
  • #277
  • Jun 20, 2008 1:51pm Jun 20, 2008 1:51pm
Quoting ljr
Whatever happens on Sunday or Monday is not going to change the Friday candle in anyway.

The price could move for you or against you between Friday and Monday and will only affect your entry point but your stop would not change so I would be inclined to say place your order immediately after the Friday close.
I personally let the market re-open and then make a decision.
  • #278
  • Jun 20, 2008 4:58pm Jun 20, 2008 4:58pm
Quoting pungggi
USDJPY seems to be the next potential Trade...
Correct.

Because this is a Second Strength Trade, it means our stop would be placed at the swing high. This is also a strong resistance point, as can be seen in the picture. Excellent setup.

You can either enter on Friday night or at market open. That's something which I haven't accounted for officially.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_20th_june_ash.gif Size: 29 KB
  • #279
  • Edited 6:54pm Jun 20, 2008 6:39pm | Edited 6:54pm
Originally Posted by smjones http://www.forexfactory.com/images/buttons/viewpost.gif
I think I actually see two trades here.


Quoting forexmoments
No, there is only one trade, because:

a) The SL wasn't hit.
b) The second "trade" you talk about couldn't occur since the Stochs weren't crossing up.

Ash,

Did you take swing Low into account, which was three bars away from the entry for the first Long trade? if so, then yes, it did not hit the SL.

I am asking to be sure that SL was not the difference of Low and close of the previous bar to go long. Otherwise, SL would have been hit.

Thanks

akalra


Never mind Ash. I found answer to my own question as per post 120.
Thanks
  • #280
  • Jun 20, 2008 10:17pm Jun 20, 2008 10:17pm
Ash,

The first solid week of trading in a long time - thanks Ash for a great system. I used it live exclusively this week starting Tuesday and closed everything out just before close. Did my best to follow your rules, but still made some stupid noobie moves. All in all 275 pips booked!!!!!!!!
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