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  • #281
  • Nov 8, 2008 3:39pm Nov 8, 2008 3:39pm
Hi Dezil,

Here's the chart I tried sending to you (24/10/7):
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  • #282
  • Nov 8, 2008 8:10pm Nov 8, 2008 8:10pm
Quoting Foreyes
I think we've all noticed how price will often return to the previous swing high/low to the pip. It will then bounce off and return to the general trend area.
check out posts 243 and 246. I've been setting limit orders only and it has been working great for me. I've nearly added 25% to an account I'd setup to trade daily charts only but wasn't getting enough signals with my other system. Thanks Paulus.
  • #283
  • Nov 9, 2008 2:56am Nov 9, 2008 2:56am
Quoting jkrick33
Billbs and everyone else:

Im trying to learn through this thread and I am asking based on this entry on the righthandside, I would have gone short a day sooner based on the indicators.

Should I wait to see it go down a little bit and then enter, is that how we confirm our entry...wait till it does go down?

Dont get confuse my friend
time of Entry should in end of day ( 9:00 GMT or more )
Once u see Candle Red and CCI in negitve area and Stoch in positive area and looks down (just looks down) means Entry confirmed you can short it and vise versa .
Never sell @ lower upward channel unless breacked and vise versa .
  • #284
  • Nov 9, 2008 3:45am Nov 9, 2008 3:45am
Quoting rumba68
check out posts 243 and 246. I've been setting limit orders only and it has been working great for me. I've nearly added 25% to an account I'd setup to trade daily charts only but wasn't getting enough signals with my other system. Thanks Paulus.
Could show us by posting a daily and hourly chart where you place your limit orders for entry
Regards
  • #285
  • Nov 9, 2008 3:54am Nov 9, 2008 3:54am
JK

Wed Wed is right we use the CCI for direction so this can only be long or short there is no middle ground .

The stochastic is to try and time our entry

So if going short we would like price to rally 1st so we can enter

If going long we would like price to retrace so we can enter.

The chart you mentioned which I have inc here again shows the correct entry

Just another point if I may about the stop I know we all strive for a RR of at least 1:1 or 3:1 at best but stop placement to me is far more importantly placed at a critical support or resistance area or then a number which has just been number crunched to give us a value..

For example

Our target is 100 pips so my stop will be 50 Im happy because this gives me 2:1 RR if my TP is hit..BUT.. that 50 pip SL has absolutely no relavence in the market its just an obscure point on our chart you have given your position no support what so ever.

In a down trend like shown in the chart for a swing high to be broken then there is a fair chance that the down trend is broken..thats a pretty strong technical situation to arrise and thats where I personally want my stop to be.

Now if that results in a larger stop size then we have to move over to money management to run our trade for us and dictate how large we trade.

2 Trades one with a stop of 50 the other with a stop of 200 if your money management is correct you should lose the same $ value on both if your stop loss is hit.

Foeryes

Love your 2nd entry technic I think i may add another position if price retraces 75% of my entry bar.. my sl on this 2nd position will be very small compared to the 1st position my average price on the trade comes down and my profit is greatly increased..in fact if I set my TP on my 2nd contract the same pip value as my 1st I can close out quicker with it.

Nice idea thanks for adding it to the thread
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  • #286
  • Nov 9, 2008 5:25am Nov 9, 2008 5:25am
Hi Paulus

I think most people who have traded will understand that it is better to place a stop in a techincal place like above a swing high or below a swing low. Or for fib players to hide their stop behind a significant fib of SK confluence level. I also think that most people should understand regarding adjusting their lot size to compensate so it will not matter how big the size of your stop loss is as you are still risking the same amount of your account.

However the real measure of a good system is the percentage of growth at the end of each month. You can have a 600 pip SL and take your lot size down to micro lots and still only risk 5% of your account no problem. Thats a given if you know how to trade.

What I and Gtrade are trying to understand is not if the system wins 70-75% of the time, as I am sure it does...but instead how much % you are growing your account on a monthly basis on average. This is where I think there has been confusion on the posts in the forum!

So it would be nice to clear that up now.

Can I also clarify in one of your previous posts I think you mentioned that you would have many open positions at one time and each one you are risking 5%. If I look at your current open positions then you are at substantial risk - How are you managing this? Do you wait until you go to BE before a new position is risked at 5%? How many open positions do you risk at 5% at any one time? Otherwise you might have for example 50% of your account at risk if you know what I mean?

Can you take the time to try to explain the % monthly growth from your point of view and also the trade MGT of multiple orders in at the same time.

Many thx for your time and continued good work on this forum

Law
  • #287
  • Nov 9, 2008 6:02am Nov 9, 2008 6:02am
Quoting gtrade
Hi Dezil,

Here's the chart I tried sending to you (24/10/7):
This bar is down bar, so long forbiden.
  • #288
  • Nov 9, 2008 6:53am Nov 9, 2008 6:53am
From closed trade the system has now banked 1845 pips after losses..using the 2nd contract scale in I could of doubled this and closed out that 2nd contract alot sooner hmmmmm interesting

Im also up around 1000 pips on open positions

Blue closed with win
Red closed with loss
Black still open

Oct 30th

short EURUSD 1.2918 tgt 439 pips- SL 390 pips
Long USDCHF 1.1378 tgt 243 pips Result = closed +243 pips SL 181 pips

Oct 31st


short GBPUSD at 1.61300 tp 535 pips Result = closed +535 pips SL 551pips
short AUDUSD at 0.66570 tp 337 closed sl hit -245
Long USDCAD at 1.20310 tp 429 pips closed sl hit -100
Short EURJPY at 125.715 tp 719pips SL 654 pips
Short GBPJPY at 158.855 tp 955 pips SL 825 pips

1st Nov

short GBPCHF ( red doji) at 1.86100 tp 445 pips SL 373 pips

5th Nov

Short USDJPY at 98.880 tp 208 pips Result= + 208 pips SL 320 pips
Short AUDUSD at 0.69236 tp 272 pips Result = closed + 272 pips SL 92 pips
Long USDCAD at 1.16264 tp 358 pips Result = closed +358 pips SL 165 pips
Short EURCHF at 1.50745 tp 256 pips SL 98 pips
Long EURAUD at 1.87240 tp 577 pips SL 233 pips Result closed +577pips
Short CADCHF at 0.99755 tp 346 pips SL 108 pips

Paulus
  • #289
  • Nov 9, 2008 6:56am Nov 9, 2008 6:56am
Thank you Dezil.

The next bar was valid according to the rules?

gray.

Quoting Dezil
This bar is down bar, so long forbiden.
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  • #290
  • Nov 9, 2008 8:15am Nov 9, 2008 8:15am
Quoting gtrade
Thank you Dezil.

The next bar was valid according to the rules?

gray.


Rule Four Factors:
-Time
-Candle Color
-CCI
-Stoch ( Long if Stoch in nigetive area (below 0 ) and look up )
Never sell @ lower upward channel unless breacked and vise versa .
  • #291
  • Nov 9, 2008 8:24am Nov 9, 2008 8:24am
Thank you WedWed.
I think this is the rule:

LONG TRADE
CCI is above 0.00 stochastic moves below 50 and ticks up the tick up hasnt got to finish above 50

Enter on a green candle, if red then you can enter the following day but no more and only of green

Quoting WedWed
Rule Four Factors:
-Time
-Candle Color
-CCI
-Stoch ( Long if Stoch in nigetive area (below 0 ) and look up )
  • #292
  • Nov 9, 2008 8:38am Nov 9, 2008 8:38am
Quoting howard
Could show us by posting a daily and hourly chart where you place your limit orders for entry
No problem. Here is an example of one of my trades from last week. On Nov-5 there was a short signal on nzd/usd. On 1HR there were two obvious swings. The price was around the lower swing at the time so I pick the one higher up. I set my limit order at 0.6000 and got filled. The next day TP was hit at 0.5835. If I had entered at market the risk to reward ratio wouldn't have been reasonable. Stop loss was placed above the swing high at 0.6150 Hope this helps.
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  • #293
  • Nov 9, 2008 8:43am Nov 9, 2008 8:43am
Thanks Paulus, appreciate that.

R

Quoting Paulus
Here are the stop loss for each trade ...
  • #294
  • Nov 9, 2008 8:49am Nov 9, 2008 8:49am
Quoting gtrade
Thank you WedWed.
I think this is the rule:

LONG TRADE
CCI is above 0.00 stochastic moves below 50 and ticks up the tick up hasnt got to finish above 50

Enter on a green candle, if red then you can enter the following day but no more and only of green
Yes my frind that is..
and in your chart all rule factors counfirmed exept Stoch was already above 50 and rule say ( hasnt got to finish above 50 ).
Never sell @ lower upward channel unless breacked and vise versa .
  • #295
  • Nov 9, 2008 9:24am Nov 9, 2008 9:24am
Quoting WedWed
Yes my frind that is..
and in your chart all rule factors counfirmed exept Stoch was already above 50 and rule say ( hasnt got to finish above 50 ).
gtrade's setup is correct, stoch is ticking up from below 50 line; it does not matter if the stoch is below or above 50 line at close of the bar, it just has to be below 50 and tick up from there
Regards
  • #296
  • Nov 9, 2008 9:37am Nov 9, 2008 9:37am
Quoting howard
gtrade's setup is correct, stoch is ticking up from below 50 line; it does not matter if the stoch is below or above 50 line at close of the bar, it just has to be below 50 and tick up from there
RULE SAY
LONG TRADE
CCI is above 0.00
Stochastic moves below 50 and ticks up (the tick up hasnt got to finish above 50 )

and you said
it does not matter if the stoch is below or above 50 line
Never sell @ lower upward channel unless breacked and vise versa .
  • #297
  • Edited 10:01am Nov 9, 2008 9:50am | Edited 10:01am
My Friend Howard , i am talking about the second bar which MR.Gtrade ask about..

What do you think is it Valid according to the Rule?


Becase Rule for long say

Long

CCI is above 0.00 stochastic moves below 50 and ticks up the tick up hasnt got to finish above 50

Enter on a green candle,if red then you can enter the following day but no more and only of green

means as Howard say it is valid.. i am sorry if i make you counfuse.
Attached Image
Never sell @ lower upward channel unless breacked and vise versa .
  • #298
  • Nov 9, 2008 9:50am Nov 9, 2008 9:50am
Quoting WedWed
RULE SAY
LONG TRADE
CCI is above 0.00
Stochastic moves below 50 and ticks up (the tick up hasnt got to finish above 50 )

and you said
it does not matter if the stoch is below or above 50 line(at close of the bar)
Both phrases have the same meaning
Regards
  • #299
  • Nov 9, 2008 9:55am Nov 9, 2008 9:55am
Quoting WedWed
My Friend Howard , i am talking about the second bar which MR.Gtrade ask about..

What do you think is it Valid according to the Rule?
Yes still valid, as the setup bar was the one before the(doji) and entry is on close of that bar, why should somebody want to enter two bars later
Regards
  • #300
  • Nov 9, 2008 9:58am Nov 9, 2008 9:58am
Quoting howard
Yes still valid, as the setup bar was the previous one (doji)
Thanx my friend Howard
Never sell @ lower upward channel unless breacked and vise versa .
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