trading eurusd/gbpusd M5

I really am an advocate of adding additional entries to your position to try and accumulate as many pips as possible. imagine have a 30 pip move where you were able to make 60 pips because you added multiple positions.

I am looking at 2 scenarios for this and once again, i will probably not add additinal entries unless i had a perfect scenario 2 trade where price action started with all 3 laguerre's either above the highest level or below the lowest level.

Additional entry Scenario #1:

This would happen after the laguerre .55 hs started the journey and his bigger brother laguerre .80 decided to join him and crossed the level. My additinal entry would be here either 1 pip above the high or low of the bar depending on direction.

Additional entry Scenario #2:

I like this one a little better i think, but we will see.

I will place on my chart MACD_colored and leave settings at defulat for now. If you signal was long, you would then wait until laguerre .80 also joined laguerre .55 and then you would wait for macd to go from red to green and you would enter. vice versa for a short trade. You would do this each time there was a color change.

Perhaps I will eventually use both additional entry scenarios to enter trades, but i will start with just one.

ONe other thing.....i will probably not place a whole bunch of trades on my first entry of the night unitl i make sure the the oscillator is correct with price action.

I guess i will also look at the MACD_OSMA settings 3,6,3 with colors in this order for the 1st 4 options...lime, red, red, lime

Hope this helps you all get more greener pips per trade.

under most conditions, i think taking profit at 30 pips is a good place to exit the market. it is double my calculated s/l (even though i use a close beyond the nearest countertrend fractal for exiting, i use 15 pips to calulate risk for the trade, and also it seems that when price has reached 30 or more pips, it retraces 10 or more pips before I exit more times then price goes way beyond 30 pips.

Plus with multiple entries all taking profit at 30 pips, if the trad edoes go longer, you will have other entries getting that profit as well.....

did anyone catch this move...... hit t/p of 30 pips.....

have to be careful now as it appears oscilation is a little off at the moment.

what a slow day so far.....

I agree it is pretty slow. Right now I am just focusing on #2 which means extreme patience as I may only get 2-4 trades per day. I think it would still be worth the wait.

batuu can u be kind enough to post the mq4 version of ur imdicator

Possible #2 setting up, but in a 20 pip range.

it is worth it, but i would encourage you to still watch price action as you can get many more pips.

today was an absolute impossible day to trade. there was one nice move for eurusd, but inidcators did not line up before hand and based on the market I may have even not recognized the trade a head of time.

I am hoping for a little more action tonight and some nice green pips.

See you all this evening......

I only had 2 trades offered in uk an U.S. sessions. Sometimes You just take whats offered

yeah....i just took a couple quick pips on kind of a make shift trade that appeared to be going up, but it came back fast and I took profit,

So far still waiting for a good set-up tonight from any pair

btw....what were your results on the U.S.session trade. i grabbed 30 pips from the U.K trade, but then had to head off to work.

we may be poised for a nice fall on the gbpjpy pair on the M15 TF.....

also usdjpy M15 is not quite a set-up, but it wants to be

usdchf m15 is almost there already too

one early trade with gbpusd otherwise nothing moving with the oscillation tonight again

it looks as if we may be very close for a good setup on eurusd M5

set-up confirmed, not just waiting for the market to come to us




oooppsss...NOW just waiting for the market to come to us..lol

Currently I am at work today, but I snagged 4 pips during UK and 20 pips during US if I remember correctly. Keep in mind I have only been using #2. i NOTICED TODAY IN STRONG TRENDS THAT #1 MAY BE A BETTER OPTION. Or else I will be sitting like a clown forever waiting for #2. I also Just trade the e/u. Maybe I should think about other pairs as well.

I don't know but i thought I should post this My tradeing partner and I have been using your old indicator with the williams % with some of our own filters as to when to use it and when to not. Dennis my partner has not had a losing trade sense he started using it and I have only had one because I jumped the gun .. I feel you walked away from a great indicator thats simple to use just because it didn't do everything. But if you just do some fib work and don't trade against div on the MACD your going to rock with it.
and stay out of slow markets ... the danger of trying to get one indicator to do it all in all markets is you get to many rules and tends to be curved fitted to the moment.

I don't want to start a rucus here but thought I'd post this because the old signal is a very good tool .. And I don't think any indicator should be used without understanding market stucture and price action.

hey landfar, thanks for keeping us up to date.

quite honest with you, i am still not 100% happy with either version of these methods. divergence may keep you out of trades, but having a 100% win rate while closeing the trade with 1 pip profit would not count to me as a victiory.

I also find that divergence is kind of subjective and not the easiest thing to spot or interpret. please continue to post results and some charts if you would like.

part of my issure here is that i am a believe in multiplying your positions as you go with the trend. Neiter of these methods is really all that good with finding the trend and so adding multiple positions can be very risky if not devastating to an account balance over time. i am really not looking for the holy grail, just an honiest method that put you in a position to catch the trend while keeping you out of the whipsaws.

I will continue learning reading and using different indicators to try to come up with something that will suit my trading style....with that said, i have started using a trend following indicator and have made some serious progress to catching the trend with hardened fast rules.....

problem is we mis a lot of pips in between and don't make but 1 or 2 trades per day off M5 chart, but they seem very safe for compounding your, but it will give some great entries for 100+ pip trades on eurusd and gbpusd with multiple positions.

i hope to be able to post what i am seeing in another thread on this forum.

peace......

Just start reading your thread. You mentioned to trade this method on

M5 - eurusd and gbpusd
H4 - gbpjpy

How do you decide these are the good pairs and timeframe to trade? Have you try other pairs?