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Higher low, lower high system

  • #181
  • Oct 6, 2008 12:44am Oct 6, 2008 12:44am
Quoting dwt
Vantage,

Thanks for an informative thread.

I wonder if you would expand a bit on your use of the 34 EMA.

Also, unlike the 5 EMA, you don't appear to have offset it to right 3 bars. Correct?

Regards.

dwt
I forgot to mention, Islander has said that he uses the slope of 34 ema as an aide it would of course be best to ask him if its anything more that buy the touches when sloped up and sell the touches when sloping down.
  • #182
  • Oct 6, 2008 1:02am Oct 6, 2008 1:02am
Quoting vbro
Hi Van,

Did a bunch of VHands on this system over the weekend, and starting to demo trade it.

This is a picture of EJ in Asian session, it was in freefall mode, I looked for 1 min pullbacks on the way down, and this one brought up a question...

Sell or no sell? I like the strong down market for yen, so I wanted to sell, but I held off because of the higher high. Your thoughts, please.

Thanks for your input.

VBro
First of all its the 1 min chart, I've attached the 5 min chart with an arrow on the time when this happened.

Its clearly down on all bigger time frames the whole time so on 5 min its basically on what I call a 1 candle huiwer (hesitation). The previous move down on your 1 min chart has still had a lower low so with the down trend I'd be selling still. If you missed that one have a look at the 5 min chart there was another lh about 6 candles after the move shown with the arrow.

I'd have been selling I'm sure.
Attached Image (click to enlarge)
Click to Enlarge Name: jpy 1.gif Size: 9 KB
  • #183
  • Oct 6, 2008 1:17am Oct 6, 2008 1:17am
Morning Vantage,
With the LH setting up on the one hour if we get a bull back on the 5 min above the 5ema will you be looking to sell on a move back below it?

Edit,

EURUSD.
  • #184
  • Oct 6, 2008 1:24am Oct 6, 2008 1:24am
Quoting nutmg12
Morning Vantage,
With the LH setting up on the one hour if we get a bull back on the 5 min above the 5ema will you be looking to sell on a move back below it?

Edit,

EURUSD.
Yes
  • #185
  • Oct 6, 2008 1:44am Oct 6, 2008 1:44am
Great good to know I'm on the right track.


I'm thinking the other 2 pairs are looking kind of slow and need to show some kind of a move before looking for a pullback for entry.

GBPUSD looks like it might start moving but I could be wrong.
  • #186
  • Oct 6, 2008 2:27am Oct 6, 2008 2:27am
Sold eur lh and got out at BE. Looks like a hl now missed that buy. Will probably wait a little for currencies to decide what they want to do.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 9 KB
  • #187
  • Oct 6, 2008 2:51am Oct 6, 2008 2:51am
It hasn't been a good morning for me so far. I'm going to hang out this week and trade pennies just to keep track so I can get the timing down.
  • #188
  • Oct 6, 2008 2:59am Oct 6, 2008 2:59am
I sold a lh at 140.18 and got out at -18. Then bought the hl at 140.73 and got out at +23.

Eur and ej are both on hl's so hopefully we'll have a pullback and a chance to get in.
Attached Image (click to enlarge)
Click to Enlarge Name: jpy 5 - 2.gif Size: 8 KB
  • #189
  • Oct 6, 2008 6:18am Oct 6, 2008 6:18am
As the trading was a little directionless I took a break. Shouldn't have, there was a nice bearish engulfing candle on ej 1 hr. Then 2 nice lh's, neither massive trades but both very nice.
Attached Image (click to enlarge)
Click to Enlarge Name: jpy 2.gif Size: 10 KB
Attached Image
  • #190
  • Edited 10:12am Oct 6, 2008 9:13am | Edited 10:12am
This one is high on the list of trades I'm not happy about. Sold 139.77 perfect lh, trailed my stop a little close and got taken out at -2 (after being 20 something up). Its now 100 pips+ up, oh well, neeeexxxxxxxt trade please.
Attached Image (click to enlarge)
Click to Enlarge Name: jpy 5 min.gif Size: 8 KB
  • #191
  • Oct 6, 2008 12:25pm Oct 6, 2008 12:25pm
Sold jpy lh, was over 50 up and started coming back way too much out at 42.
Attached Images
  • #192
  • Oct 6, 2008 12:47pm Oct 6, 2008 12:47pm
Quoting vbro
Hi Van,

Did a bunch of VHands on this system over the weekend, and starting to demo trade it.

This is a picture of EJ in Asian session, it was in freefall mode, I looked for 1 min pullbacks on the way down, and this one brought up a question...

Sell or no sell? I like the strong down market for yen, so I wanted to sell, but I held off because of the higher high. Your thoughts, please.

Thanks for your input.

VBro
Hi Vbro
What were your results on Vhands? I thought you had to have an ea to run this?
  • #193
  • Oct 6, 2008 3:08pm Oct 6, 2008 3:08pm
Quoting Vantage
Hi Vbro
What were your results on Vhands?
I'm trying to stay disinterested in results until I have more time logged with the system. But without having thought about it too much, I can say the outcomes look about the same as I've seen over the last couple of weeks watching live/demo.

I think it's a useful learning tool. The only downside I can see is that you don't have the market running at it's normal speed, so all the intangible, rhythmic cues of momentum are not as accurate as you would hope for. VHands runs tick data, so time plays no part in it's delivery of each price movement, only ticks.

And the other thing is you have to manually move an hourly chart, so you don't get to see the hourly unfold like you would in real time. But these seem small obstacles for the advantage of being able to practice trading so many days in such a small amount of time.

Quoting Vantage
I thought you had to have an ea to run this?
VHands is the EA. Here is a link to Blueruby's excellent thread which gives you the EA and all the instruction you need to get it running.

http://www.forexfactory.com/showthread.php?t=60849

The only thing you want to do differently for this system, is when he tells you to open a chart without indicators, go ahead and open one with your HL/LH 5 min template, and then name it 'vhandstrade' like he tells you to.

If you need more help, let me know, but the Blueruby thread is pretty user friendly.

Cheers,

VBro
  • #194
  • Edited 1:10am Oct 7, 2008 12:56am | Edited 1:10am
First trade of the day didn't work. An inverted hammer on 1hr, a lh high on 5 min just below 140.50. Perhaps sold the 2nd lh a little early stopped out -15.

Re-entered from 1 min lh. Couldn't break below 139.25 out at +1 after being approx 30 up, darn!! One of the things I try and stick to is never to let a 30 pip trade come back and get nothing from it.
Attached Images
  • #195
  • Oct 7, 2008 1:19am Oct 7, 2008 1:19am
When the move down failed it bacame a hl. Out at +21.
Attached Image (click to enlarge)
Click to Enlarge Name: jpy hl.gif Size: 9 KB
  • #196
  • Oct 7, 2008 1:30am Oct 7, 2008 1:30am
Note to self, before 3 am est if you get pretty much anything above 20 pips grab it and definitely don't let 30 pips up go back to BE.
  • #197
  • Oct 7, 2008 1:39am Oct 7, 2008 1:39am
An interesting morning, sold the 2nd lh quite tight before the 5ema as it was falling from 140 even number. It stopped at the upward sloping 34 ema and I missed the chance to take 30 pips, a mistake.

There was more than enough room to take the lh sell and make pips before the first area of concern being the 34 ema and the previous low at 139.17.

When 139.17 wasn't hit it was a hl, in hindsight should have exited M3 at + 40 instead of getting out at + 21.

Anyway, the previous hl of 139.21 is holding so we could be on for another buy chance.
Attached Image
  • #198
  • Oct 7, 2008 1:40am Oct 7, 2008 1:40am
Quoting Vantage
First trade of the day didn't work. An inverted hammer on 1hr, a lh high on 5 min just below 140.50. Perhaps sold the 2nd lh a little early stopped out -15.

Re-entered from 1 min lh. Couldn't break below 139.25 out at +1 after being approx 30 up, darn!! One of the things I try and stick to is never to let a 30 pip trade come back and get nothing from it.
A little trick - look to 34 ema when you trade. It is very strong support/resistance level. In your case - the ema stopped the downmove and could take there the profit.
  • #199
  • Oct 7, 2008 1:43am Oct 7, 2008 1:43am
Quoting Happy68
A little trick - look to 34 ema when you trade. It is very strong support/resistance level. In your case - the ema stopped the downmove and could take there the profit.
Thanks.
  • #200
  • Oct 7, 2008 2:10am Oct 7, 2008 2:10am
Vintage,

Thanks for posting your system.

I hope you don't mind but I have a few questions. I don't trade using candles and at this stage I would prefer not to start as I have been using bars for years.

1) Do you use the hour chart for every trade and do you wait for the close?

2) Waiting for the hourly bar to close is hard as you think you are missing a lot of the new trend! Will you go early if the 5min is making HH and HL inside the first hourly candle? Or wait until the hourly closes?

3) Does the trade need to have BOTH a HH and a HL brofre you will enter?

4) What do you do if the 5min makes a LL and then a HH and then start doing swing inside this range but the 1min has LH and LL?

5) Do you use the 1min chart only to get a jump on the entry to a 5min setup?

Not new to forex but I'm wanting to nail down what you use for an entry.......must have rules...etc

thanks
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