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  • #3,221
  • Sep 3, 2008 2:00pm Sep 3, 2008 2:00pm
Hi Rorieu, have responded to your Q's below in blue -

Quoting rorieu
Strada,

Trades on 28 Aug #3175

"Trade details:
T1 Sell 790; tp1 = 8; tp2&3 sl@be; +8
T2 buy 792; tp1 = 7; tp2&3 sl@be; +7 "

Are these numbers after the semicolon: ' +8' and '+7' the TOTALS for these trades?
Yes. T1 ~ tp 1 closed for 8pips, tp2&3 closed at BE for Zero so total for trade = +8pips.
Wondered why did you not move the SLs after each tp1?
I did, tp2&3 closed at BE. For further info on this see post 3190/p213.

#3199 missed question
"....do you in fact use the characteristics or patterns of the bars at all in your trading decisions? You mentioned a 'double top' on Friday...."
I'm mindful of anything obvious I see but on 1min I tend to focus mainly on the price in relation to the signals.
You mentioned a 'double top' on Friday...."
Think you may be referring to a double bottom on T9 when i was looking for an excuse to close tp3 on my last trade, the double bottom was as good a reason as any at the time.

Eraserhead
Fascinated to see how you use Fibs?


R
  • #3,222
  • Sep 3, 2008 2:18pm Sep 3, 2008 2:18pm
Evening Eraserhead, made some comments below in blue

Quoting eraserhead
Hi Strada

I tried to watch "holes" using fibs and it helped me a lot to manage the situation without panic. Except "Hole #2", the other ones are clear fibs retracements.

I know you are not a fibs fan and you are trading with a pure system but I'm just making experiments. I think this could be a nice way to manage stress (vision is more clear) and maybe to understand when it's time to enter on a cross or stay in the previous trade....we'll see.

Strada I noticed that I'm losing lots of pips waiting for a recross at the end of the third TP. Does your experience says that it is better to wait for that or maybe it would be better take this TP3 when it reach 30 pips. In my short experience I see that it is very hard to take more than 30 pips with the third TP. Can we say that we are happy with 8+14+30 =52 pips for a trade?
Yes, you can do this, lots of traders use targets for exits.
I had this tussle sometimes, you think the move has exhausted itself but how can you possibly know? I used to exit on these thoughts and like your example above have a profit of 52 pips. Not bad at all. But hang on what's happening next, this thing has found new legs and is away again and I'm sitting on my hands here. Another 20 pips, 40, 50 and so on. That is when I started looking more seriously at the 5/12 recross, it seemed a more legitimate reason for exiting and furthermore if the trade then found new legs it would recross again and I'd be able to re-enter tp3. I know what you mean about seeing pips disappear going back to the recross but very often it will do this and then reverse and continue in its original direction. Whether the target exit or 5/12 exit would be more profitable I couldn't say, be interesting to find out though. If I get the chance I'll check some old data that includes the maximum pip score on trades and try to do a comparison..





p.s.
today profit/loss +45pips (edit: +71. Stop for the day, I learned that when I start to get tired losses comes quickly). I agree with you, EU morning session seems to be more easy to trade. Did you say that or I dreamed about it?
  • #3,223
  • Sep 3, 2008 4:20pm Sep 3, 2008 4:20pm
Quoting eraserhead
Is it a question?
Yep

How do you draw Fibs 'over' a hole?

R
  • #3,224
  • Sep 4, 2008 1:57am Sep 4, 2008 1:57am
Morning Eraserhead, have been thinking about your concept of using fibs alongside the recross or possibly instead of the recross. I remember bago used fibs in this regard, don't know if you've seen his posts on the subject, there were quite a few of them in the discussion. I don't use them normally but I can see that there might be times when fibs could keep a trade out of trouble and perhaps reduce losses. My main problem with it is if I exit a trade based on the fib but the 5/12 is still intact and it stays that way and recovers can I use the fib for re-entry effectively???? Will try to look at it over the week-end.

Good start to the day today on 1min, missed the signal on EU just before 7.00, was distracted (breaking the rules already, tut, tut) so took the cable signal which followed so on cable at present. Currently short and just closed tp2.

rgds strada.
  • #3,225
  • Sep 4, 2008 5:34am Sep 4, 2008 5:34am
Hi Strada&Rorieu,

I simply trace Fibs from highs/lows on different TF (week, daily, 1h....1m), remember I'm very newbie and just watching at this tools with lots of fascination. Not only because Fibonacci was an italian mathematician of course

I see that in some way (I don't know which right now...) fibs could be a nice tool to make the vision more clear, but I repeat, I don't know how to use them concretely everytime. It seems that (like Strada says) they can prevent more losses, they can help to exit before RC or SL.

Today, as everyday , I started trading after Strada and took 3 false signal around that area that seems very crucial because of confluence of many fibs. The 4th signal was good, still making pips.

I limited losses of the first 3 false signals because of fibs:

normal losses: 108 Vs fibs losses: 90 (not too much I know...)

4th trade is making around 40 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU_strada_040908I.jpg Size: 356 KB
  • #3,226
  • Sep 4, 2008 7:20am Sep 4, 2008 7:20am
Hi EH

I was in all those trades that you said were false signals and I took profit from all of them????

'False Trade 1' Signal bar on my chart was at 9.48. long @ 522 there were 2 attempts at making 8, I got to 7.7 then 7.6 so I took 6.9 and then exited tp2&3 at BE

'False Trade 2' Signal bar at 10.00; short @ 516; tp1 8 on 10.06 bar; tp2&3 Sl @ BE

'False TRade 3' Signal bar at 10.24; Long @ 518; tp1 8 on10.32 bar; tp2&3 sl@be.

What targets are you using for your TP's?

rgds, strada.

Quoting eraserhead
Hi Strada&Rorieu,

I simply trace Fibs from highs/lows on different TF (week, daily, 1h....1m), remember I'm very newbie and just watching at this tools with lots of fascination. Not only because Fibonacci was an italian mathematician of course

I see that in some way (I don't know which right now...) fibs could be a nice tool to make the vision more clear, but I repeat, I don't know how to use them concretely everytime. It seems that (like Strada says) they can prevent more losses, they can help to exit before RC or SL.

Today, as everyday , I started trading after Strada and took 3 false signal around that area that seems very crucial because of confluence of many fibs. The 4th signal was good, still making pips.

I limited losses of the first 3 false signals because of fibs:

normal losses: 108 Vs fibs losses: 90 (not too much I know...)

4th trade is making around 40 pips
  • #3,227
  • Sep 4, 2008 8:08am Sep 4, 2008 8:08am
Quoting strada
Hi EH

I was in all those trades that you said were false signals and I took profit from all of them????

'False Trade 1' Signal bar on my chart was at 9.48. long @ 522 there were 2 attempts at making 8, I got to 7.7 then 7.6 so I took 6.9 and then exited tp2&3 at BE

'False Trade 2' Signal bar at 10.00; short @ 516; tp1 8 on 10.06 bar; tp2&3 Sl @ BE

'False TRade 3' Signal bar at 10.24; Long @ 518; tp1 8 on10.32 bar; tp2&3 sl@be.

What targets are you using for your TP's?

rgds, strada.
Well,
I use the same TP levels of my Guru "Strada", but I remembered that you told to someone that you did not move SL@BE on TP1&TP2. You do like that because you prefer to make the trade breathe; sorry! probably it's my bad memory. That's why I had losses in Trade 1 and Trade 2.
So actually you move SL@BE after TP1?

In Trade 3, different scenario, I waited a bar more to see a clear RSI signal because on your entry bar, in my chart, RSI was barely under 50.
So I entered late and have a triple loss.


I attach an experiment I did with TP looking at Fibs. Hope one day I will collect many of these "perfect trade" . It was just like an orgasm to see how price retraced after TP3

Anyway I'm here to learn my teacher


Attached Image (click to enlarge)
Click to Enlarge Name: EU_strada_040908II.jpg Size: 344 KB
  • #3,228
  • Edited 11:10am Sep 4, 2008 10:58am | Edited 11:10am
EH
Thanks for the answer.

I have tried fibs before and noticed how sensitive they are to the choice of highs & lows.
If you try and duplicate someone's post you never get the same levels.

Also if you use many TFs you'll get so many lines you'll probabaly find the one you want!
Is it not better to draw the Fibs on the TF you are using?

Not for me I think but if they work for you - good luck.

I agree with Strada's numbers on the three 'FALSE' trades but TRUE 1 see today's chart attached can you explain please?

PS... Strada did you trade thru this area too??
R
Attached Image (click to enlarge)
Click to Enlarge Name: EH tru1.gif Size: 15 KB
  • #3,229
  • Sep 4, 2008 11:36am Sep 4, 2008 11:36am
Strada

Still following your posts and still learning.

Many thanks for the info.

Can you tell us what you pip totals have been over the last few days (weeks?) on EUR/USD on 1 minute please?
What is the wins to losses ratio? I see a very high number of losses

I like the method but I am finding the 1m a bit frantic so I am contemplating trying 2m to reduce the number of signals.
Overall, are your profits higher on 1m than on your previous favourite 10 minute or 5m?

I am currently using 5m on GBP/USD, much less stressful.

It looks like you are on-screen from before 6am to around 11am is that so?

NU2
  • #3,230
  • Sep 4, 2008 1:35pm Sep 4, 2008 1:35pm
Hello Rorieu, the trade you highlighted on your chart I took and exited after the 10.54 bar which was a recross and I had a loss of 6pips (total - 18). The 5/12 recross bar was part of a new signal which I didn't take as there was German news a few mins later at 11.00. I took the signal immediately after the news.

Nu2Fx, the 1min can be frantic as you say and requires solid screen-time and full time concentration so it won't suit everyone. Probably best sticking with the 5min, take a look at EJ it works well on that too. Will try and give you some stats but requires a bit of work going through my statements from 3 brokers. The charts and results i posted at the end of last week and monday this week should give you a reasonable flavour of the results, they were 2 good days and 1 bad day, overall not quite as bad as typical I'd say but a reasonable overview. Cannot say categorically whether 1min is more profitable than the 5/10 mins, difficult to draw any direct comparisons as things have changed in various ways since I was doing 5/10mins. And yes I like to start between 6 - 7am and try to be finished by lunch, brain is fried by then.

rgds, strada.

Quoting rorieu
EH
Thanks for the answer.

I have tried fibs before and noticed how sensitive they are to the choice of highs & lows.
If you try and duplicate someone's post you never get the same levels.

Also if you use many TFs you'll get so many lines you'll probabaly find the one you want!
Is it not better to draw the Fibs on the TF you are using?

Not for me I think but if they work for you - good luck.

I agree with Strada's numbers on the three 'FALSE' trades but TRUE 1 see today's chart attached can you explain please?

PS... Strada did you trade thru this area too??
R
  • #3,231
  • Sep 4, 2008 5:18pm Sep 4, 2008 5:18pm
Quoting strada
Hello Rorieu, the trade you highlighted on your chart I took and exited after the 10.54 bar which was a recross and I had a loss of 6pips (total - 18). The 5/12 recross bar was part of a new signal which I didn't take as there was German news a few mins later at 11.00. I took the signal immediately after the news.

rgds, strada.
I completely agree.

It's just that EH mentioned:

"The 4th signal was good, still making pips."
which I didn't understand, I just wanted to check your view.

rorieu
  • #3,232
  • Sep 5, 2008 5:36am Sep 5, 2008 5:36am
Hello,

today as Bagonivo used to say in the past (I've just finished to read all the thread) "too easy!!!"

+70pips with 2 trades and stop for the day.

Strada I had many bad experience in the past but this time seems that the account is growing day by day. I would like to thank you again because now I have a strategy that I trust, I have a discipline that I lilke to follow etc... working with 1M timeframe is an HARD work but...someone has to do it! . My goal is to produce 50 pips average a day / 250 pips per week. Is it something achievable or pure utopia Strada? Hope to start with real money microlots at the beginning of october.

Rorieu what you say about fibs is absolutely true the screen tend to became a web. I'm watching at them just for training and learning not as a real instrument for trade. Note that I'm still demotrading.
Attached Image (click to enlarge)
Click to Enlarge Name: EU_strada_050908I.jpg Size: 303 KB
  • #3,233
  • Sep 5, 2008 10:12am Sep 5, 2008 10:12am
Hi Eraserhead

Can't remember the quote but as usual bago was spot on. Looks like you're now finding this out for yourself. Today did seem relatively easy on EU (did some on cable too, much the same) and good results.

Your targets are wholly realistic. As long as you've got your plan properly worked out (and you're confident it is a good plan) and you stick with it I see no reason why you won't profit and reach the target most days. Be sure to let us know how you progress.

Have a good week-end, strada.

Quoting eraserhead
Hello,

today as Bagonivo used to say in the past (I've just finished to read all the thread) "too easy!!!"

+70pips with 2 trades and stop for the day.

Strada I had many bad experience in the past but this time seems that the account is growing day by day. I would like to thank you again because now I have a strategy that I trust, I have a discipline that I lilke to follow etc... working with 1M timeframe is an HARD work but...someone has to do it! . My goal is to produce 50 pips average a day / 250 pips per week. Is it something achievable or pure utopia Strada? Hope to start with real money microlots at the beginning of october.

Rorieu what you say about fibs is absolutely true the screen tend to became a web. I'm watching at them just for training and learning not as a real instrument for trade. Note that I'm still demotrading.
  • #3,234
  • Edited 3:07pm Sep 8, 2008 9:57am | Edited 3:07pm
Hi Strada,

Do you have a minimum of losing trades per day? Today I stopped after losing 80 pips with 10 trades.

Thanks

Edit:
Just look at this chart. That is an example of the perfect unlucky day for a trader. I missed all the big trades because I started too late and ended too soon. I have -80 pips day during a day with this huges movement. How we wanna call this?
Attached Image (click to enlarge)
Click to Enlarge Name: 080908_unluckyday.jpg Size: 275 KB
  • #3,235
  • Sep 9, 2008 10:48am Sep 9, 2008 10:48am
[quote=eraserhead;2207157]Hi Strada,

Do you have a minimum of losing trades per day? Today I stopped after losing 80 pips with 10 trades.

Thanks

Edit:
Just look at this chart. That is an example of the perfect unlucky day for a trader. I missed all the big trades because I started too late and ended too soon. I have -80 pips day during a day with this huges movement. How we wanna call this?

---


Hi Strada
today a super day with 200 pips gained. I noticed that there are a LOT of TP3 that are blewed away waiting for the re-cross. Many times we loose 20 or 30 pips gain because of that waiting...
Are you having the same experience?

I noticed that fibs, trendline, r/s, psico-resistence (like today 4200) can give a huge help to close trades without waiting the recross. Have you ever did a consideration on this?

Also during a "gold day" like today I noticed that I left 100 (more or less) pips on the table.

have a nice evening my dear
  • #3,236
  • Sep 9, 2008 3:10pm Sep 9, 2008 3:10pm
[quote=eraserhead;2209295]
Quoting eraserhead
Hi Strada,

today a super day with 200 pips gained. I noticed that there are a LOT of
Also during a "gold day" like today I noticed that I left 100 (more or less) pips on the table.
Well done EH. Amazing!

Can you post any details of your trades please...

eg : how many, how long were you on-screen, size of the trades and anything else you can - time permitting?

Was this on EU 1m only?

thanks

rorieu
  • #3,237
  • Sep 9, 2008 4:29pm Sep 9, 2008 4:29pm
Well,
I can't post the exact trade bulletin (entry/exit/gain/loss) because I trade with the phone, the phone is no-battery right now and I have the battery charger in office, not at home I'm on an apple mac computer so I can not log in the account.

I made this orrible charts with what I remember were the good trades (green) and the bad one (red). There's nothing to left to say, when the market doesn't go raging in 1M TF (like yesterday) this system (bago-strada) make lots of pips.

This system is very stressing, I traded many hours (during lunch as well ...with phone in my hand ready to catch signals and moving SL between some pasta and wine ), but when days are good you can make pips in every direction.

The goal is actually to understand how to limit losses in bad days...as every trading system I think.
I think everything can fixed with right money management.

sorry again for the horror chart...
Attached Image (click to enlarge)
Click to Enlarge Name: strada090908IV.jpg Size: 234 KB
  • #3,238
  • Sep 9, 2008 6:34pm Sep 9, 2008 6:34pm
[quote=eraserhead;2209295]
Quoting eraserhead
Hi Strada,

... I noticed that there are a LOT of TP3 that are blewed away waiting for the re-cross. Many times we loose 20 or 30 pips gain because of that waiting...
Are you having the same experience?

I noticed that fibs, trendline, r/s, psico-resistence (like today 4200) can give a huge help to close trades without waiting the recross. Have you ever did a consideration on this?

Also during a "gold day" like today I noticed that I left 100 (more or less) pips on the table.
Money Management

I used Strada's detailed numbers to work this out last week:
Strada's total for Thusday 28 Aug, was 162 pips.

It is interesting to note that if you had exited the 3 lot stake at tp1, (~8 x 3) = 24 pips, you would have netted 189pips (using same losses)

So, if you exited all your money on 'tp1' @ 8 pips nominally, then you netted more than the three split lots strategy.

It seems you lose out:
1) if the BE is hit just after tp1.
2) because you gain only if the tp2 and tp3 levels are large (>8), not so frequent in 1 minute trading.
3) if you wait for the recross on tp3 which is often lower than tp1 or tp2

Strange...

I initially observed this trading GU 5m with 2 lots (tp1:15/18 pips). For tp2 I was trying to find a method of detecting a later turning point (fat chance!).
During this I saw very good results using only a 15 pip tp level on each trade.
(Note I use 8pip tp1 for EU 1m and 15pip tp1 for GU 5m)

Yes, I know, not (nearly) enough data, but just thinking out loud.

rorieu
  • #3,239
  • Sep 9, 2008 7:40pm Sep 9, 2008 7:40pm
Just wondering....

How do most of the testers/traders of this system cut their losses? I would realy prefer the opinion of somebody who has been trading this for a couple of months.... the market has been trending well recently and everyone following this and any other trendfollowing strategy will have made a + on their account.

Leon
Living the adventure in my head.
  • #3,240
  • Sep 10, 2008 5:14am Sep 10, 2008 5:14am
Hi ya Leon,

I think what you are looking for is on post #3215 by Strada....he has been using this system for near on 2 years with great success....

Also if you have some time it is worth going over the last few posts from Strada a couple of times of charts and his Q & A's starting at post #3175 to #3191 as you will have an insight of the system and how it works and feel comfortable about using the system..

Happy trading,

Adrian

Quoting Leonlorenzo
Just wondering....

How do most of the testers/traders of this system cut their losses? I would realy prefer the opinion of somebody who has been trading this for a couple of months.... the market has been trending well recently and everyone following this and any other trendfollowing strategy will have made a + on their account.

Leon
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