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  • #181
  • Jan 25, 2009 11:55pm Jan 25, 2009 11:55pm
Quoting thehenryfam
Update -- now the HMA on EURUSD is back to red again. LOL. I guess I just experienced the HMA's repainting in action!

Scott
Scott,

Mine had gone green and I was about to get out but it has turned red so I'm good. Typical Sunday, my buys went south on me, it went down almost to
-$600 (remember I'm buy single and double lots). I have to admit, that was one of the bigger draw-downs I've seen. But again like most Sundays, my trades have rebounded and I'm now a positive $63. I'm head off to bed, will update all in the AM

Night All
Mitch
  • #182
  • Jan 26, 2009 12:09am Jan 26, 2009 12:09am
Sounds good, Mitch. Plus you just had to know that as soon as you began to share your trades publicly, they would take a little bit of a hit, right? That happens to just about all system sharers on FF. But I'm glad to hear that it sounds like your trades have rebounded.

My USDCAD trade is doing well, but the EURAUD trade is dragging me down at the moment.

Talk to you tomorrow.

Scott

Quoting mitchp
Scott,

Mine had gone green and I was about to get out but it has turned red so I'm good. Typical Sunday, my buys went south on me, it went down almost to
-$600 (remember I'm buy single and double lots). I have to admit, that was one of the bigger draw-downs I've seen. But again like most Sundays, my trades have rebounded and I'm now a positive $63. I'm head off to bed, will update all in the AM

Night All
Mitch
Prices are never too high to begin buying or too low to begin selling.
  • #183
  • Jan 26, 2009 1:43am Jan 26, 2009 1:43am
Hi,

I am watching 11 pairs at the moment, and took trades on 9 of them yesterday night, shortly after the forming of the daily candle. I think the basket turned positive during the night (during the middle of the Asian session), but when I checked at 7 GMT it was negative, and it still is.

I am trading the Yen pairs as well and these are always moving a lot. They affect my basket more than the other pairs, and perhaps it would be good to exclude them, if one wants to reduce the risk?

Which pairs are you all trading, and which ones are the best to trade in your opinion? I am thinking of excluding the Yen pairs, at least for a while.

Cheers,

Archie
  • #184
  • Jan 26, 2009 4:27am Jan 26, 2009 4:27am
Hey Mitch,

Wasn't that €/Gbp Long a bit risky to take, I mean, pair already went over 500pips up, +my CCi starts to went down

Thanks
  • #185
  • Jan 26, 2009 4:56am Jan 26, 2009 4:56am
Quoting mitchp
Ok,

Here are my trades for now. I actually have a couple other pairs I'm interest in but the spreads are way too big right now. I will monitor them and hope they go down: GBPCHF, EURCAD.

If you can't see the attached, let me know and I will type them out.

Good luck to all of us
Mitch
Mitch;

Thanks for this wonderful system. I love it and use it straight away. But regarding of GBPUSD and EURUSD, these pairs already experienced massive downtrend and in the last three days showed reversal candles. Therefore, although the HMA of these pairs this morning showed red, I placed buy on these pairs. And now, the HMA are green !! Thanks God. And hopefully going north ! I just closed half of my position (chicken !!!) and let the other half open. The other pairs are spot-on.

Therefore, I think it is wise to see the candles. It may help further. Anyway, thanks for the system. Really appreciated.

BKH
  • #186
  • Jan 26, 2009 6:28am Jan 26, 2009 6:28am
Hi,

Almost all of my pairs in the basket have chnaged color on the HMA during the morning. Would it perhaps be good to trade lower timeframes?

I have looked at 1H, and I'm not sure, but perhaps it doesn't repaint that often?
  • #187
  • Jan 26, 2009 6:48am Jan 26, 2009 6:48am
Wouldn't you know it, I finally put this system up and boast about good its been for me and right away it turns on me. All but one of my trades went south on me, so much, that I had to close everything out this morning. I would have to say that this is was the biggest lose I've experienced! I'm not sure what went wrong, it's been a sure winner up to this point. Oh well, I will keep on trading because I do believe in the system, it just still needs work.

Mitch
  • #188
  • Jan 26, 2009 6:54am Jan 26, 2009 6:54am
Hi Mitch... Great system . Very similar to the one i'm using now and has been very positive for me . My concern is when you placed your buy on the EUR/GBP , (as an example) , last night .Yes the trend has been established for the past week and a half or so . So why enter at a late stage of a trend when all the colors match up ? To risky for me . i'm willing to wait for the proper colors to set up first , then get in , less draw down on the account ...also a pretty good stop loss when first entering a trade for me is a 20-day ATR x (70%). Then adjust , as the trade progress in my favor...
It is still a great style of trading . i would be more cautious on when entering , think you would find it more Profitable ... ...... buffalopip.......
  • #189
  • Jan 26, 2009 7:08am Jan 26, 2009 7:08am
Quoting buffalopip
Hi Mitch... Great system . Very similar to the one i'm using now and has been very positive for me . My concern is when you placed your buy on the EUR/GBP , (as an example) , last night .Yes the trend has been established for the past week and a half or so . So why enter at a late stage of a trend when all the colors match up ? To risky for me . i'm willing to wait for the proper colors to set up first , then get in , less draw down on the account ...also a pretty good stop loss when first entering a trade for me is a 20-day ATR x (70%)....
Thanks, you are probably right and thats what I hoped to learn from putting this up on FF.
  • #190
  • Jan 26, 2009 7:15am Jan 26, 2009 7:15am
Well I traded live last night for the first time and was very conservative. I was trading .01 pips so money wasn't the goal. I wanted to see how the system worked on the live fxdd server. With these 4 trades I made around $.39 but again I watched them and closed them out before I went to bed.

Overall I made +$15 thanks to earlier trades in egbp, gj and gu which I closed. I also scalped a little on ej.

I plan to place trades again tonight. I don't want to second guess the system but maybe looking at the length of the existing trend is something to think about. In other words a long downtrend based on the HMA may be losing steam. As opposed to a recent trend reversal. Just a thought.
Sandy
  • #191
  • Jan 26, 2009 7:19am Jan 26, 2009 7:19am
Quoting Bkh60
Mitch;

Thanks for this wonderful system. I love it and use it straight away. But regarding of GBPUSD and EURUSD, these pairs already experienced massive downtrend and in the last three days showed reversal candles. Therefore, although the HMA of these pairs this morning showed red, I placed buy on these pairs. And now, the HMA are green !! Thanks God. And hopefully going north ! I just closed half of my position (chicken !!!) and let the other half open. The other pairs are spot-on.

Therefore, I think it is wise to see the candles. It may help...
Excellent point, I've always used bars but it may be time to start paying attention to the candlesticks.

Nice move with your trades, you called that one correct!
  • #192
  • Jan 26, 2009 7:36am Jan 26, 2009 7:36am
Quoting nubchai
Well I traded live last night for the first time and was very conservative. I was trading .01 pips so money wasn't the goal. I wanted to see how the system worked on the live fxdd server. With these 4 trades I made around $.39 but again I watched them and closed them out before I went to bed.

Overall I made +$15 thanks to earlier trades in egbp, gj and gu which I closed. I also scalped a little on ej.

I plan to place trades again tonight. I don't want to second guess the system but maybe looking at the length of the existing trend is something...
Sandy,

Glad to hear you had some positive results. I guess it was just time for the system to take back a bit from me. We've talked in the past about maybe Sunday wasn't a good day to take trades, and those thoughts are still running in my head.

I agree about taking a look at the length of the trend, but I was hoping the RSI would give the signal about a possible turn.

Mitch
  • #193
  • Jan 26, 2009 7:51am Jan 26, 2009 7:51am
Quoting mitchp
Sandy,

Glad to hear you had some positive results. I guess it was just time for the system to take back a bit from me. We've talked in the past about maybe Sunday wasn't a good day to take trades, and those thoughts are still running in my head.

I agree about taking a look at the length of the trend, but I was hoping the RSI would give the signal about a possible turn.

Mitch
Mitch,

Successful trading on Sunday seems to be a 50-50 proposition. If you wait until the opening trend has passed I've seen this system produce very good results on Sundays. So last night was payback I guess lol.

Sandy
  • #194
  • Jan 26, 2009 7:51am Jan 26, 2009 7:51am
Mitch, as you well know, you can't expect to win every night or every week or even every month in this game. Hang in there. I think the system is pretty sound... just needs some tweaks on when to get in and out efficiently.

Personally, I think it would be safer to enter at the beginning of trends (as indicated by the indicators) and ride them until a a stop loss or trailing stop takes you out of the trade and then just wait for a new change of trend to enter again. Trying to guess at how much of a trend is left and enter accordingly is difficult business.

My thought (admittedly it is early) would be to take the new signals on whatever day of the week they present themselves and let them ride until the trade takes you out (maybe do a scenario where you take a certain % profit on one lot and let the second lot run until taken out). And I would consider leaving the trades open over the weekend as well. I have seen several people talking about opening trades one night and then closing at the end of the next day. That's really more like scalping the daily time frame as opposed to a true daily method. The beauty of a daily method is taking small hits on the losers but letting the winners run for as many pips as possible -- multiple days or even weeks. Anyway, just a thought.

Update: My USDCAD short is doing really well, and my EURAUD is a little in the hole at the moment. But I've got SLs set for both so will just let them ride.

Thanks again for the system!

Scott

Quoting mitchp
Sandy,

Glad to hear you had some positive results. I guess it was just time for the system to take back a bit from me. We've talked in the past about maybe Sunday wasn't a good day to take trades, and those thoughts are still running in my head.

I agree about taking a look at the length of the trend, but I was hoping the RSI would give the signal about a possible turn.

Mitch
Prices are never too high to begin buying or too low to begin selling.
  • #195
  • Jan 26, 2009 8:20am Jan 26, 2009 8:20am
Trading at the beginning of a trend would be a safe way to go.

I prefer to end a trade when I'm at a profit level I'm happy with. But staying with trades 1 or more days may prove more lucrative. It's riskier though in that you increase exposure to news events that may have a big impact on the basket of trades. But taking partial profits and using a basket SL would counteract that.

So it's all in your trading style. One thing I like about this system is there's a number of ways you can use it.

Sandy

Quoting thehenryfam
Mitch, as you well know, you can't expect to win every night or every week or even every month in this game. Hang in there. I think the system is pretty sound... just needs some tweaks on when to get in and out efficiently.

Personally, I think it would be safer to enter at the beginning of trends (as indicated by the indicators) and ride them until a a stop loss or trailing stop takes you out of the trade and then just wait for a new change of trend to enter again. Trying to guess at how much of a trend is left and enter accordingly is difficult...
  • #196
  • Jan 26, 2009 8:21am Jan 26, 2009 8:21am
Quoting tcmm
Hi Guys I know Mitchp went in which is right that the traffic lights Shows the signals, but not to get in right away yet, I am waiting when the Hour time frame lines up with the daily and also looking at the 15min. because there is retracements still. I posted this in Post #149 Thanks Just To Help
Good thing for waiting and went long on eur and gpb US and by looking at the lower time frames and news.Post #173
Also be careful on Sunday's for Daily Trading
My Email For Help: [email protected]
  • #197
  • Jan 26, 2009 8:31am Jan 26, 2009 8:31am
Quoting thehenryfam
Sounds good, Mitch. Plus you just had to know that as soon as you began to share your trades publicly, they would take a little bit of a hit, right? That happens to just about all system sharers on FF. But I'm glad to hear that it sounds like your trades have rebounded.

My USDCAD trade is doing well, but the EURAUD trade is dragging me down at the moment.

Talk to you tomorrow.

Scott
Didn't see E/A on Mitch's trade list from last evening. Just wondering if you took this trade on your own?
  • #198
  • Jan 26, 2009 8:34am Jan 26, 2009 8:34am
10.00am eastern watch for Existing homes sales and the Dow Jones it can change the trends back again there is also negative news
You need to keep Fundamentals in Mind
My Email For Help: [email protected]
  • #199
  • Jan 26, 2009 8:41am Jan 26, 2009 8:41am
Quoting tcmm
Good thing for waiting and went long on eur and gpb US and by looking at the lower time frames and news.Post #173
Also be careful on Sunday's for Daily Trading
tcmm in your approach are you waiting for the same HMA signal on 1 hr and daily?

thanks,
Sandy
  • #200
  • Jan 26, 2009 8:42am Jan 26, 2009 8:42am
Quoting thehenryfam
Mitch, as you well know, you can't expect to win every night or every week or even every month in this game. Hang in there. I think the system is pretty sound... just needs some tweaks on when to get in and out efficiently.

Personally, I think it would be safer to enter at the beginning of trends (as indicated by the indicators) and ride them until a a stop loss or trailing stop takes you out of the trade and then just wait for a new change of trend to enter again. Trying to guess at how much of a trend is left and enter accordingly is difficult...
Scott,

Thanks for the support, I think there is a lot of wisdom in what you said. The market gives and now the market has taken - that's ok, I'm now in trades moving in the right direction.

Mitch
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