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McElotDino-Trading 4h

  • #21
  • Sep 30, 2008 4:39am Sep 30, 2008 4:39am
Arrow was on the previous candle, so you should have taken a LONG ... RIght?

Then why are you saying "It all depends upon now on the close of the last candle"? Please explain - I am little confused....R U in the Long trade or NOT?..

Sorry



Quoting ashes
gbpusd shows a elliot wave reversal arrow, macd is green and dinapoli stoch has crossed. it all depends now on the close of the last candle.
in 4 hours we know more.

Regards
  • #22
  • Sep 30, 2008 6:49am Sep 30, 2008 6:49am
Quoting ashes
gbpusd shows a elliot wave reversal arrow, macd is green and dinapoli stoch has crossed. it all depends now on the close of the last candle.
in 4 hours we know more.

Regards

My Friend ashes i like your profitable sys.

i hav quastion about your rule..


Rules:

Wait until elliot wave oscillator shows an arrow.

Wait for candle close.

my quastion is:

Which candle i have to wait ,the one has arrow or the next candle??..
Never sell @ lower upward channel unless breacked and vise versa .
  • #23
  • Sep 30, 2008 7:03am Sep 30, 2008 7:03am
okay ashes..

now what new candel say??
Never sell @ lower upward channel unless breacked and vise versa .
  • #24
  • Edited 9:40am Sep 30, 2008 7:06am | Edited 9:40am
I entered 3 positions long on gbpusd at 1,8072

sl 1,7972
tp1 1,8172
tp2 1,8272
tp3 1,8372

sl triggered

total = - 300 pips
Attached Image
  • #25
  • Sep 30, 2008 7:10am Sep 30, 2008 7:10am
Hi pipmonger and WedWed,

the entry is at the candle close after the ew signal candle, if the other indicators confirm it.

of course one could already enter after ew candle close, which I sometimes do, but with more risk.

Regards
  • #26
  • Edited 7:27am Sep 30, 2008 7:16am | Edited 7:27am
Quoting ashes
Hi pipmonger and WedWed,

the entry is at the candle close after the ew signal candle, if the other indicators confirm it.

of course one could already enter after ew candle close, which I sometimes do, but with more risk.

Regards



so means on your rule is

we have to wait next 4hours CLOSED after ( ew candle ) then entry .. like what u did now..

is that right?
Never sell @ lower upward channel unless breacked and vise versa .
  • #27
  • Sep 30, 2008 7:21am Sep 30, 2008 7:21am
Quoting WedWed
so means on your rule is

we have to wait next 4hours after ( ew candle ) then entry .. like what u did now..

is that right?
that's correct.

sorry if I've left room for confusion.

Regards
  • #28
  • Sep 30, 2008 7:27am Sep 30, 2008 7:27am
sorry brother.. just see my quastion again .. i was edit it.
Never sell @ lower upward channel unless breacked and vise versa .
  • #29
  • Sep 30, 2008 7:38am Sep 30, 2008 7:38am
Quoting ashes
I entered 3 positions long on gbpusd at 1,8072

sl 1,7972
tp1 1,8172
tp2 1,8272
tp3 1,8372

my bro.
u r enter long below 200ma

in same time ther is on EU storng signal short under 200ma oppsit direction of GU


so i think we have to think about it??

which one batter to choose
Never sell @ lower upward channel unless breacked and vise versa .
  • #30
  • Sep 30, 2008 7:44am Sep 30, 2008 7:44am
If a Signal(Arrow) appears on a candle say at 4Hr(4 to 7:59) then wait till next candle (8-11:59 ) closes. Means cannot enter until 12....Assuming others are in sync/suppports it.

Currently on EUR/USD 4H there were two opposing arrows on two consecutive candles... So forget the first one?

Will this work on H1 chart?

Thanks in advance for your help.


Quoting ashes
that's correct.

sorry if I've left room for confusion.

Regards
  • #31
  • Sep 30, 2008 7:53am Sep 30, 2008 7:53am
Quoting WedWed
my bro.
u r enter long below 200ma

in same time ther is on EU storng signal short under 200ma oppsit direction of GU


so i think we have to think about it??

which one batter to choose
if I'd knew which would be better to choose I'd probably could retire.

yes, I've relaized this on eurusd.

we're definitely in strange trading times.

plus the gbpusd trade is a countertrend trade, so always something to be careful with.

but I will stick to the rules concerning gbpusd because this pair I have achieved positive backtest results with.

just to repeat: there will be losers with this system. but the winners will provide positive balance by the end of the month.

Regards
  • #32
  • Sep 30, 2008 8:00am Sep 30, 2008 8:00am
thanks good luck..

i chosse to sell EU ..
Never sell @ lower upward channel unless breacked and vise versa .
  • #33
  • Sep 30, 2008 8:00am Sep 30, 2008 8:00am
Quoting pipmonger
If a Signal(Arrow) appears on a candle say at 4Hr(4 to 7:59) then wait till next candle (8-11:59 ) closes. Means cannot enter until 12....Assuming others are in sync/suppports it.

Currently on EUR/USD 4H there were two opposing arrows on two consecutive candles... So forget the first one?

Will this work on H1 chart?

Thanks in advance for your help.
the ew arrow can appear even in the middle of a 4h candle. then whait for the following candle to close.

I'm not trading eurusd with this system, only gbpusd and sometimes eurchf.

I guess it could work on 1h chart with modified tp and sl. For me the 4h is much better because of my work and if a trade works out just to the 2nd position the profits are pretty neat.

Regards
  • #34
  • Sep 30, 2008 9:15am Sep 30, 2008 9:15am
Hi ASh:

I would appreciate if you please post a chart, when ready to get into a trade or you think one may be forming/getting ready for a trade...LIVE one.

Thanks for all the clarifications..

pipmonger
  • #35
  • Sep 30, 2008 9:33am Sep 30, 2008 9:33am
It has an uparrow 3 candles ago ...Should one be in trade?

To me the STOCH cross is not clear and still points downwords...
What is your take on this?
  • #36
  • Last Post: Sep 30, 2008 9:37am Sep 30, 2008 9:37am
Quoting pipmonger
It has an uparrow 3 candles ago ...Should one be in trade?

To me the STOCH cross is not clear and still points downwords...
What is your take on this?
when I entered the trade at close of the 8:00 gmt+1 candle the indication was clearer for a long. actually it doesn't look to good, I agree.

I've posted the chart on page 2

Regards
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