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trading eurusd/gbpusd M5

  • #41
  • Jul 7, 2008 11:50pm Jul 7, 2008 11:50pm
Quoting drayco
Interesting. I would probably only add positions if they were at a better price than the last. I will watch this... Thanks for sharing.
yes....you would have to be very careful adding positions as it can go against you once in a while
"Keep your eyes on the helpers" - Mr. Rogers
  • #42
  • Jul 8, 2008 2:01am Jul 8, 2008 2:01am
My first trade of the day was a success, although it was a little unconventional for the entry, but it made sense to me and the exit was not as smooth as yesterday, but i ended up with a few pips and quite the market.

I amy have exited early, but the indicators were doing a very weird thing...price action was going down and they were going up and vice versa. also the laguerre .80 which was going to be my exit came back up above .10 level and so I didn't know quite how to handle it even though the other 2 indicators were comoing down. it could be that i should have waited for it to close back below .1 level before attempting an exit especially since price was below the daily pivot,

chaulk it up as a learning experience and positive pips in the bank, albeit only 3

it appears that price may head down to S1...I will be watching for a bounce from there

Here is my chart, now I am just awaiting my next entry siganl.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 111 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #43
  • Jul 8, 2008 2:38am Jul 8, 2008 2:38am
Did you just totally change your system? what happened to the first description of the system...don't you trade it that way anymore?
  • #44
  • Jul 8, 2008 2:49am Jul 8, 2008 2:49am
I have actually done alright with the your old system yesterday
  • #45
  • Jul 8, 2008 2:51am Jul 8, 2008 2:51am
Quoting casperbet
Did you just totally change your system? what happened to the first description of the system...don't you trade it that way anymore?
I am still trading it, but with different indicators that have gotten rid of the whipsaw. this was necessary for the survival of this fantastic entry point. Please read post #38, i have also made a note on the first page.
"Keep your eyes on the helpers" - Mr. Rogers
  • #46
  • Jul 8, 2008 2:56am Jul 8, 2008 2:56am
Quoting nesa1980
I have actually done alright with the your old system yesterday
yes...yesterday was good, but it can eat you up at sometimes if you start trading at the wrong time. This is why the change was necessary, though this drastic was not expected, just wanted to find a filter to keep out the whipsaw.

If you would have traded it early london yesterday, you would have lost quite a few pips, but new york would have been phenominal.

I think you will find this much better.....
"Keep your eyes on the helpers" - Mr. Rogers
  • #47
  • Jul 8, 2008 3:39am Jul 8, 2008 3:39am
Quoting damonl
yes...yesterday was good, but it can eat you up at sometimes if you start trading at the wrong time. This is why the change was necessary, though this drastic was not expected, just wanted to find a filter to keep out the whipsaw.

If you would have traded it early london yesterday, you would have lost quite a few pips, but new york would have been phenominal.

I think you will find this much better.....
OK I see what you mean, I didnt trade the London session yesterday. Will add the new filters!

Cheers!
  • #48
  • Jul 8, 2008 4:12am Jul 8, 2008 4:12am
FWIW.....i am using a 2% account balance trade based on a 15 pip s/l, and am willing to eat the rest if my losses amount to more than that.

Here is my chart for the latest trade. this one was good for 22 pips......

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 111 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #49
  • Jul 8, 2008 4:15am Jul 8, 2008 4:15am
I traded the whole day yesterday but ended in overall profit (just above breakeven).

When I look back you can have some very nice days with the old settings, many 20-40 pip winning days and you don't have that many big losing days if you just keep trading the signals after you have lost a trade.

Another thing you can do is to stop trading when you win a trade so you don't overtrade the system.
  • #50
  • Jul 8, 2008 4:20am Jul 8, 2008 4:20am
Quoting casperbet
I traded the whole day yesterday but ended in overall profit (just above breakeven).

When I look back you can have some very nice days with the old settings, many 20-40 pip winning days and you don't have that many big losing days if you just keep trading the signals after you have lost a trade.

Another thing you can do is to stop trading when you win a trade so you don't overtrade the system.
good suggestions....... i am now wondering if we will see any more significant movement before Ben speaks this AM
"Keep your eyes on the helpers" - Mr. Rogers
  • #51
  • Jul 8, 2008 4:49am Jul 8, 2008 4:49am
Quoting damonl
good suggestions....... i am now wondering if we will see any more significant movement before Ben speaks this AM
I don't think we will see that much more movement for now. I just switched to trade on my demo. I am current in a short on EURUSD and in a long on USDCHF.

I have traded similar systems for a long time on my real accounts and I have just implemented your system into my live trading.

What I really like about the system is the tight stop that means you don't need that much movements to make a good return on your account.

On my set up on my real-account I trade the EURUSD with 15 pips stop (17 including spread). I risk 3% of my account balance per trade.

My TP is set to 22 (20 including spread) which will earn me a return of ~3,5% per winning trade. If you consider slipperage and me pushing the buy/sell button to slow I still manage to make ~3% to 3,3% in return on a winning trade.

When I have made that ~3% to 3,3% in return I stop trading for the day. If I lose a trade I continue trading until I am in positive. I stop trade if lose 3 trades in a row

What is the best part is that a winning trade only require a 22 pip movement.

Many other systems that works with high SL and on higher TF requires much more movements to make that return.

Since we make our living from return in % and not by the numbers of pips I see this as a very strong system because you can make this type of return with just a little movement on the market....and try to compound 3% per day on your account for a few months.
  • #52
  • Jul 8, 2008 6:01am Jul 8, 2008 6:01am
OK there was some movements...both positions (Buy USDCHF and Sell EURUSD) on my demo account just closed in profit...why did I stop trading the real account oh ya because I follow my strategy
  • #53
  • Jul 8, 2008 6:41am Jul 8, 2008 6:41am
Quoting casperbet
Since we make our living from return in % and not by the numbers of pips I see this as a very strong system because you can make this type of return with just a little movement on the market....and try to compound 3% per day on your account for a few months.
I agree, counting in percentage is better than pips. Based on that i was up 4.4% yesterday, which is good enough for me
  • #54
  • Jul 8, 2008 9:42am Jul 8, 2008 9:42am
id like to know if im doing this right, I went long at 1.5683 (09:03 Est) with a stop at 1.5660

got stopped out
thanks
  • #55
  • Jul 8, 2008 9:52am Jul 8, 2008 9:52am
id like to know if im doing this right, I went long at 1.5683 (09:03 Est) with a stop at 1.5660

got stopped out
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: trade test.gif Size: 27 KB
  • #56
  • Jul 8, 2008 12:56pm Jul 8, 2008 12:56pm
Damon
I'm pretty good with indicators but it is really vauge how to set them up
I really cannot tell which ones of the 2 Laguere get what changes and when i blow up your chart i can't read the numbers so i could not fig it out that way.
You refer to Lang80 and 85 but am lost to which is which
  • #57
  • Jul 8, 2008 1:14pm Jul 8, 2008 1:14pm
OOPs I just reread your directions and I get it now I guess its reading I have problems with Thanks for sharing this great setup
  • #58
  • Jul 8, 2008 5:41pm Jul 8, 2008 5:41pm
Quoting samsamsam
id like to know if im doing this right, I went long at 1.5683 (09:03 Est) with a stop at 1.5660

got stopped out
thanks
yes....this was correct, however, because laguerre .55 went above level .85 and then back down below it before laguerre was able to close above level .15, i would have closed this trade at the point of laguerre .55 closing below level .85
"Keep your eyes on the helpers" - Mr. Rogers
  • #59
  • Jul 8, 2008 6:11pm Jul 8, 2008 6:11pm
Well i had to work today so i was only able to take one more trade befor ework which was good for 21 pips. If this keeps up maybe i will not have to work any more, i am so ready for this to happen.

Here is the chart of that trade.......

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 103 KB


I don't know how much i will be around tonight, I have a training at 1 GMT, and i may not make it for London tonight if I need some sleep, but it is important to take training and to learn from others.

Here's to being on the highway to JOB freedom.

I will post again when I can
"Keep your eyes on the helpers" - Mr. Rogers
  • #60
  • Jul 8, 2008 6:31pm Jul 8, 2008 6:31pm
Quoting casperbet
I don't think we will see that much more movement for now. I just switched to trade on my demo. I am current in a short on EURUSD and in a long on USDCHF.

I have traded similar systems for a long time on my real accounts and I have just implemented your system into my live trading.

What I really like about the system is the tight stop that means you don't need that much movements to make a good return on your account.

On my set up on my real-account I trade the EURUSD with 15 pips stop (17 including spread). I risk 3% of my account balance per trade.

My TP is set to 22 (20 including spread) which will earn me a return of ~3,5% per winning trade. If you consider slipperage and me pushing the buy/sell button to slow I still manage to make ~3% to 3,3% in return on a winning trade.

When I have made that ~3% to 3,3% in return I stop trading for the day. If I lose a trade I continue trading until I am in positive. I stop trade if lose 3 trades in a row

What is the best part is that a winning trade only require a 22 pip movement.

Many other systems that works with high SL and on higher TF requires much more movements to make that return.

Since we make our living from return in % and not by the numbers of pips I see this as a very strong system because you can make this type of return with just a little movement on the market....and try to compound 3% per day on your account for a few months.
This is fantastic.....my personal goals are a little more than 3%, I am looking for 4-6% which is around 40 - 50 pips. I am usually able to rach that everyday and today have set a goal for myself for 200% profit from today until I put in my notice at work. I am hoping for no more than 3 months to achieve this goal.

wish me luck and let's help each other along
"Keep your eyes on the helpers" - Mr. Rogers
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