Been busy, but still trading NOMO's strategy my way.....as those of you that have pm'd me know.
Here are my results for today don;t have time to format as in the past, but I hope it helps.
Pair Session Date Order Entry SL 25 pg TP Close P/(L)
EURUSD London 1/5/2009 Sell 13662.4 13687.4 13637.4 13612.4 13687.4...
Ignored
Hey,
I've been using this method also since the thread started, but only on 2 pairs. How do you determine your stops ?
Do you use the original 20 pip stop ?
I do't think that would work in this volatile market at least not on the pairs I trade. I put mine 5 pips above the pull back and set my TP at least 2x my stop
I've been using this method also since the thread started, but only on 2 pairs. How do you determine your stops ?
Do you use the original 20 pip stop ?
I do't think that would work in this volatile market at least not on the pairs I trade. I put mine 5 pips above the pull back and set my TP at least 2x my stop
Ignored
D labour of a fool wearieth him cos he doesn't know how to enta d city
Last year I started using a stop of 25 pips. This year I'm using 20 pips, but looking to reduce it a little further. I'm trying to focus mainly on the really solid trades and my data is telling me that once you pass 17 your chances for success, based on my risk level are, low.
I either use 2x my stop or, I add a trailing stop with no tp. The second method tends to capture more of the move for me. There have been many times where the trade has got to 48 when the tp was 50 and then turned around.
I've been using this method also since the thread started, but only on 2 pairs. How do you determine your stops ?
Do you use the original 20 pip stop ?
I do't think that would work in this volatile market at least not on the pairs I trade. I put mine 5 pips above the pull back and set my TP at least 2x my stop
First of all I want to thank Nomo, RRothschild, cheelu and all contributors for sharing this strat. I`m a noob tryng to make it on the forex.
From today i will start live tests wit nomo`s system and hopfuly in 2 weeks from now i will start trading it live.
My first question for you is if i got the box timed in. So... can you check the chart below (compare it with your own charts) and see if the begining and end of the box for London and NY session are right?
First of all I want to thank Nomo, RRothschild, cheelu and all contributors for sharing this strat. I`m a noob tryng to make it on the forex.
From today i will start live tests wit nomo`s system and hopfuly in 2 weeks from now i will start trading it live.
My first question for you is if i got the box timed in. So... can you check the chart below (compare it with your own charts) and see if the begining and end of the box for London and NY session are right?
Trying to understand the reason why you choose 1-3 EST for London. I thought we are supposed to pick 1 hr before and 1 hr after the session open as the box timings.
For New york, your timings 7-9 EST go well with the above theory.
Yes cheelu, I was about to ask the same question... Why 3 hours box for london?
Another thing... how do i interpret you log?
For example, I took this short trade this morning...
EURUSD London 1/8/2009 Sell 13536.1 13561.1 13508.1 13486.1 13556.1 (20.00)... but i can`t understand all the athores levels... one sl and more tp levels or what???
Trying to understand the reason why you choose 1-3 EST for London. I thought we are supposed to pick 1 hr before and 1 hr after the session open as the box timings.
For New york, your timings 7-9 EST go well with the above theory.
My London box (1:00 - 3:00) is 2 hours not 3 not sure where you're getting 3 from.
if it's from the typo on the GMT then the times are (6:00 - 8:00 GMT).
Read the first line of the results, it tells you what info is in each column.
Yes cheelu, I was about to ask the same question... Why 3 hours box for london?
Another thing... how do i interpret you log?
For example, I took this short trade this morning...
EURUSD London 1/8/2009 Sell 13536.1 13561.1 13508.1 13486.1 13556.1 (20.00)... but i can`t understand all the athores levels... one sl and more tp levels or what???
Hi Folks:
Quick question. Say you get a long signal at for example. 1.5000. Would you place the trade when the ask hit 1.5000, or in the example of a 3 pip spread wait until the bid hit 1.5000 and the ask was at 1.5003. Just curious as to what people do. If anyone remembers what NOMO said that would also be great. Happy, profitable New Year everyone.
Hi Folks:
Wanted to post a losing trade from this morning. Thought that it was important to show both winners and losers on the forum. It's a holiday today in U.S. plus the inaguration, so I'll pass on further trading until London session early tomorrow morning.
I only trade a select few pairs with this system, including the EU. It used to be my most consistent pair before the new year. Now it doesn't seem to break the box with much strength or consistency anymore...at least in the NY session. It seems to make a stronger run earlier around the open of NY that maxes out the range, and never breaks out again.
Have you EU traders noticed this change? Does this typically happen each January time frame, or is it because of the election/innauguration, or just a change in market dynamics, or ?? Obviously, there is also a lot going on with economy as well.
Any thoughts on what might have caused the change, and whether it (hopefully) is just a cycle that might come back to compliment the system?
Fortunately, USDCAD is performing like EU used to...very well with this setup.
Hi everyone:
Just wanted to post a small winning trade this morning, I was up approx. 20 pips, but it retraced and I got out at the check mark with 10. Keep posting people, this seems to give pretty consistent pips if you aren't too greedy, and as always, limit your losses.
thanks to Cheelu for the response. a very prosperous new year to everybody on the thread
