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1H Envelope Field

  • #1
  • First Post: Edited Dec 7, 2009 7:57am Oct 16, 2008 1:01pm | Edited Dec 7, 2009 7:57am
No
  • #2
  • Oct 16, 2008 1:22pm Oct 16, 2008 1:22pm
This system seems pretty interesting. Do you trade this live or only on demo? What is your success rate, average winner, average loser, etc. Do you trade this only during a certain session or whenever a signal appears, you take the trade?
  • #3
  • Oct 16, 2008 1:34pm Oct 16, 2008 1:34pm
Quoting Dl1982
This system seems pretty interesting. Do you trade this live or only on demo? What is your success rate, average winner, average loser, etc. Do you trade this only during a certain session or whenever a signal appears, you take the trade?

I've been trading this live for about 2 weeks. I will trade it when ever I see a signal. I check markets about every 4 hours so I do miss a lot of trades, hence the reason I would like it to be an EA. Just added the Mom and Stoch couple days ago to raise my wins a little more had 3 wins to 1 loss. I hate losses! Winning pips minus losses makes average 30pips a trade so far. I hope to see this go up with the inclusion of Mom/Stoch. I don't think I have enough info yet to say what the average winners are. Losers have a fixed amount of pips from the open.
  • #4
  • Oct 16, 2008 1:41pm Oct 16, 2008 1:41pm
Hey, we have something in common...we both hate losing. 3 winner to 1 loser is something I can really deal with. We know losing is part of it. 30 pips on average right now is more than great. Do you have a money management plan that you use for this system? It is very interesting. I can't wait to get home today to open up a demo account and see how it goes.
  • #5
  • Oct 16, 2008 1:56pm Oct 16, 2008 1:56pm
I just use the Stop loss strategy I described, and risk only as much as makes me comfortable. The strategy should come out on top in the long run. I've heard many very experienced traders say they never trade more than 2% of their account. I think thats wise. Other than that good pip hunting to you!
  • #6
  • Oct 16, 2008 2:02pm Oct 16, 2008 2:02pm
Thanks. I'm going to set this up today and see if I can get in a trade according to the rules and see how it goes.
  • #7
  • Oct 16, 2008 2:04pm Oct 16, 2008 2:04pm
Quote
All entries long and short begin when the price crosses through the center 60EMA (purple line).

Do you enter in mid bar, as price crosses the center, or do you wait for the bar to close?
  • #8
  • Edited 2:35pm Oct 16, 2008 2:06pm | Edited 2:35pm
Quote
Momentum must be above 99.75 to go long, or below 100.25 to go short.
Is this a mistake or is it as you intended?
  • #9
  • Oct 16, 2008 2:20pm Oct 16, 2008 2:20pm
Quoting billbss
Do you enter in mid bar, as price crosses the center, or do you wait for the bar to close?


I enter Mid bar whenever EMA is crossed.
  • #10
  • Oct 16, 2008 2:28pm Oct 16, 2008 2:28pm
Thats what I intended billbss exactly the way is says. That way it keeps you out of some bad trades but doesn't stop you from trading altogether.
  • #11
  • Oct 16, 2008 8:05pm Oct 16, 2008 8:05pm
Heres a pretty good example of what I am suggesting. I was away from my computer so I missed this one of course!!!


Entry 101.82

Target one reached half profit at 101.16 Moved SL to BE

Red Envelope reached Moved SL to 101.16 then moved SL once an hour maintaining it on the blue Envelope

SL triggered at 101.28

First lot 34 pips profit
Second lot 46 pips profit

Total 80 pips profit
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_trade_ex.gif Size: 40 KB
  • #12
  • Oct 16, 2008 8:06pm Oct 16, 2008 8:06pm
I was actually thinking the reverse. Open trades when the prices goes far from the median.

Your entry for trending and my entry for ranging.

How how to tell the difference between the two... =D
  • #13
  • Oct 16, 2008 8:11pm Oct 16, 2008 8:11pm
Its true. I had actually thought of that and tried a couple live trades that way. They didn't work out so well for me, and I had a difficult time deciding when it was safe to enter the trade. Long story short I lost more money than I made, but let me know if you figure out how to trade it that way. Then we'd have more trading options with the same chart.
  • #14
  • Oct 17, 2008 12:56am Oct 17, 2008 12:56am
On the chart that you showed here, I see the entry that you labeled. My view is (if I understand the system correctly) you would have been stopped out on that trade for a loss. You said to place the stop loss at the closest envelope going in the opposite direction of your trade and the bar after your entry hit the next lowest envelope line. Am I correct with my view? I truly don't mean any disrespect or to question your own knowledge of your system. I just want to make sure I understand completely.


Quoting Skracor247
Heres a pretty good example of what I am suggesting. I was away from my computer so I missed this one of course!!!


Entry 101.82

Target one reached half profit at 101.16 Moved SL to BE

Red Envelope reached Moved SL to 101.16 then moved SL once an hour maintaining it on the blue Envelope

SL triggered at 101.28

First lot 34 pips profit
Second lot 46 pips profit

Total 80 pips profit
  • #15
  • Oct 17, 2008 3:08am Oct 17, 2008 3:08am
Quoting Dl1982
On the chart that you showed here, I see the entry that you labeled. My view is (if I understand the system correctly) you would have been stopped out on that trade for a loss. You said to place the stop loss at the closest envelope going in the opposite direction of your trade and the bar after your entry hit the next lowest envelope line. Am I correct with my view? I truly don't mean any disrespect or to question your own knowledge of your system. I just want to make sure I understand completely.

No, no, you are right. Very astute of you. I should have written it down so that the stop is put down six pips beyond the envelopes. I know that makes it a bit untidy but you will find price moves/bounces that would ordinarily bounce you out with a loss are then avoided. I do this in practice to make sure I don't get knocked out prematurely. This makes sure the envelope is actually broken not just touched, not to mention you have to think about the spread. I was knocked out more than once in this way because I didn't remember the spread. I wrote it the way I did for ease of the examples but from now on I will be more thorough.

In truth I move my entry 6pips beyond the 60EMA also, to ensure it is totally broken before I get into the trade. One can never be too careful.

Good pip hunting to you!
  • #16
  • Oct 17, 2008 10:54am Oct 17, 2008 10:54am
Thanks for clearing that up. As I set up my chart last night, I noticed that many time the 60ema median was barely touched and then price would move to stop the trade out. With the 6 pip rule, that makes a huge difference. Just in my glancing of the chart, I thought this system was unprofitable until you just told me that. I have a 3 pip spread on e/u so I will trade with the 6 pip rule on both entries and stop loss placement but I'm going to keep a chart to see if I added in my spread and made it a 9 pip rule (a little safer) how many trades would occur then. I will demo trade it strictly off the 6 pip rule but I will keep an eye a 9 pip rule for e/u.
  • #17
  • Oct 17, 2008 2:25pm Oct 17, 2008 2:25pm
Its true! The worst feeling in the world is being stopped out of a profitable trade by one or two pips.
  • #18
  • Oct 17, 2008 2:42pm Oct 17, 2008 2:42pm
Could not have agreed with you more. I'm looking forward to placing my first demo trade with this system when the market opens on Sunday. Is it okay if I post trades on here so you can see them and critique them? I think this system has solid potential and I would hate to see the thread die like so many do on this forum.


Quoting Skracor247
Its true! The worst feeling in the world is being stopped out of a profitable trade by one or two pips.
  • #19
  • Oct 18, 2008 12:16am Oct 18, 2008 12:16am
Please post as many trades as you like I truly appreciate your enthusiasm.
  • #20
  • Last Post: Oct 19, 2008 11:24pm Oct 19, 2008 11:24pm
I just placed my first demo trade using your system. I'm long on e/u @ 1.3482. Stop loss @ 1.3426.


Quoting Skracor247
Please post as many trades as you like I truly appreciate your enthusiasm.
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