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1M eurusd trading w/ 1 Indicator

  • #21
  • Oct 7, 2008 9:36am Oct 7, 2008 9:36am
Try it with a filter. I use a similar idea and filter with a higher time-frame MA. Try putting a 195ema (as an approximation of the 15min 13ema and then only trade with the higher time frame (or a 780ema to approximate the 60min). Most of the counter trend trades with be avoided. You can still trade counter-trend but at least you will know you are doing it.
Considering a move to Memphis
  • #22
  • Edited 10:18am Oct 7, 2008 10:00am | Edited 10:18am
Quoting Andy B
Let's say your bank is £14,000

2% risk is therefore £280

You therefore take a trade with 7 pips SL, risking £40 per pip

You make 21 pips profit, multiplied by 40 = £840

You do this again, making another £840

You have therefore made £1,680 of profit in total, which is 12% of your starting bank of £14,000

Andy
And what kind of leverage you are using to attain your results?
I really think you need to do some recalculating of risk here.....
Same Whore .... Different Dress
  • #23
  • Oct 7, 2008 10:05am Oct 7, 2008 10:05am
Thanks for sharing this system!I will try it for sure.
  • #24
  • Oct 7, 2008 10:59am Oct 7, 2008 10:59am
Quoting johnedoe
And what kind of leverage you are using to attain your results?
I really think you need to do some recalculating of risk here.....
I'm not sure if the question is directed to me or the thread author?

I personally would never trade with a 7 pip SL, I use spreadbetting firms in the UK to trade rather than brokers, and the spread is too wide to even contemplate a 7 pip SL (indeed the spread on GBPCHF and GBPJPY are both wider than 7 pips)

Andy
  • #25
  • Oct 7, 2008 10:59am Oct 7, 2008 10:59am
[quote=damonl;2260146]
Greenhorn here.Would someone please tell me the correct "stand for letters".

Indicator: 13 Simpe MA - Close. ?????

S/L: 5 pips + spread - I "think I've got the S/L = Stop Loss?

T/P: 3x s/l + 3x spread or 4x s/l + 4x spread TP = Take Profit?

T/S: 10 pips. ?????

SMA: ?????

Thank you!
  • #26
  • Oct 7, 2008 11:01am Oct 7, 2008 11:01am
[quote=Tekuma;2264968]
Quoting damonl

Greenhorn here.Would someone please tell me the correct "stand for letters".

Indicator: 13 Simpe MA - Close. ?????

S/L: 5 pips + spread - I "think I've got the S/L = Stop Loss?

T/P: 3x s/l + 3x spread or 4x s/l + 4x spread TP = Take Profit?

T/S: 10 pips. ?????

SMA: ?????

Thank you!

SL and TP are correct
TS = Trailing Stop
SMA = Simple Moving Average


Andy
  • #27
  • Oct 7, 2008 11:12am Oct 7, 2008 11:12am
Quoting Andy B
I'm not sure if the question is directed to me or the thread author?

I personally would never trade with a 7 pip SL, I use spreadbetting firms in the UK to trade rather than brokers, and the spread is too wide to even contemplate a 7 pip SL (indeed the spread on GBPCHF and GBPJPY are both wider than 7 pips)

Andy
My questions are ultimately for the author......
Same Whore .... Different Dress
  • #28
  • Oct 7, 2008 12:31pm Oct 7, 2008 12:31pm
Try Oanda. At times the EUR/USD is only .9


Quoting Andy B
I'm not sure if the question is directed to me or the thread author?

I personally would never trade with a 7 pip SL, I use spreadbetting firms in the UK to trade rather than brokers, and the spread is too wide to even contemplate a 7 pip SL (indeed the spread on GBPCHF and GBPJPY are both wider than 7 pips)

Andy
"Loss and failure are inevitable but misery is optional"
  • #29
  • Oct 7, 2008 12:49pm Oct 7, 2008 12:49pm
Quoting carmel
Try Oanda. At times the EUR/USD is only .9
I use O. and haven't seen their .9 since the Wall St. fiasco.
  • #30
  • Oct 7, 2008 12:57pm Oct 7, 2008 12:57pm
Me either. but is at a workable 1.9 as we speak. With the simplicity of this strategy even the archaic Oanda charting may be used!

Quoting piprac
I use O. and haven't seen their .9 since the Wall St. fiasco.
"Loss and failure are inevitable but misery is optional"
  • #31
  • Oct 7, 2008 2:14pm Oct 7, 2008 2:14pm
If one wanted to try the 5M TF, should the SMA be tweaked and if so, what setting?
  • #32
  • Oct 7, 2008 4:15pm Oct 7, 2008 4:15pm
Quoting drmahathir
Thank you for this simple system. I have a question regarding the entry



How do you determine the 'upward' or 'downward' movement? Purely by eyesight or according to the MA values? Thanks
Hello...I really just use my eye on the MA. Trading 1M is to fast to try to read numbers.

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #33
  • Oct 7, 2008 4:19pm Oct 7, 2008 4:19pm
Quoting VitaminBeer
Do you trade during certain times?

Do you use any filters at all what so ever? follow a bigger trend, anything like that at all?

Also waiting on how you judge the 13 SMA angle

VB,
Vitamin Beer....sounds good to me as long as it tastes good

No filters and of course during open sessions is good, but there is no way to tell when the market really moves.

One thing that if you go to the M15 chart and see a lot of long wicks on the candles in consecutimve bars, it is probably not a good market to trade in.

Hope this is helpful...Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #34
  • Oct 7, 2008 4:46pm Oct 7, 2008 4:46pm
Quoting tooloud
Try it with a filter. I use a similar idea and filter with a higher time-frame MA. Try putting a 195ema (as an approximation of the 15min 13ema and then only trade with the higher time frame (or a 780ema to approximate the 60min). Most of the counter trend trades with be avoided. You can still trade counter-trend but at least you will know you are doing it.
Thanks...I will look at the filter. I will also look at a few other filters and see what I can come up with

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #35
  • Oct 7, 2008 5:10pm Oct 7, 2008 5:10pm
Quoting johnedoe
Use a little longer TF and you will have better results and less stress...JMHO
Care to share some information about your strategy? For a while, I've been searching for a strategy that will allow me to make just one trade per day.
  • #36
  • Oct 7, 2008 5:42pm Oct 7, 2008 5:42pm
Quoting forextrades
Care to share some information about your strategy? For a while, I've been searching for a strategy that will allow me to make just one trade per day.
If you have skype give me a call and we can talk...
my skype ID is in my user profile.....
Same Whore .... Different Dress
  • #37
  • Last Post: Oct 7, 2008 10:41pm Oct 7, 2008 10:41pm
Usually what time of the day you use this strategy on?
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