A 35 stop loss on gbp/jpy is going to get hit a lot....you need to know the pairs you want to trade.
- #323
- Mar 27, 2007 10:05am Mar 27, 2007 10:05am
- Joined May 2006 | Status: Professional trader, owner of MTC | 1,521 Posts
- #324
- Mar 27, 2007 12:39pm Mar 27, 2007 12:39pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
this system got a stop loss ? How many u all put for the stop loss ? Just now i put a stop loss of 35 at gbp/jpy, got stop so fast. Then re sell again to take back the loss
I do 35 pips or a cross of the 4 hour stoch
but news is differant animal
- #326
- Edited 5:20pm Mar 27, 2007 2:42pm | Edited 5:20pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
TEB
I must admit this is a pretty good system. I'm really impressed by how the discussion is going.
I do have one question though. It's about reading the stochastics. Do you have some type of system that indicates a buy or sell signal. For instance, when trying to indicate a buy signal, do both %D and %K have to be below the 20 line? Or does one have to be? Or do the %D and %K have to cross each other while below the 20 line before one or both crosses the 20 line to in order to indicate a buy signal?
I was basically trying to make an expert advisor for this, but I'm not 100 percent sure how you were doing the stochastics. I was assuming that you were basically just eye balling it; but if you do have specific rules it would be great to know.
Thanks
jj
3 big times in the stochs life
when they cross
then when they come out of the 20-80% zone.
its a personal choice but I will tell you 4 things
1. the 4 hour stoch is the most important to me so I play it the most safe
2. I take the candle & candle formation into account- on all charts
3. I take where the 50ema into account- on all charts
4. if you want to be safe wait untill all 2 or 3 of the stochs
have both of their lines out of the 20% or the 80% zones
other then news times I think that is as safe as it can get in forex
Hello all and many thanks to Teb and others for sharing the experience ,i read lightly this because it catched my eye on the title and then really got my attention because i've tryed to develop a similar system and stoch was a confirmation on entering, i think that other traders use the stoch as confirmation as well, i did a fast 1 month course in forex with a trading firm and i know from there that they used a fixed analisys sheet that prevented them from entering a trade against the stoch among athor indicators .I really don't want to sound snob , i only have one year from first learning of forex , and consider myself the noobest of all here.
I just want to ask if it's possible to develop an EA for this system so we can do a bit more reliable backtest.
May the forex be with you
I just want to ask if it's possible to develop an EA for this system so we can do a bit more reliable backtest.
May the forex be with you
- #328
- Edited Mar 28, 2007 1:29am Mar 27, 2007 6:18pm | Edited Mar 28, 2007 1:29am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
30 min Gbp/Jpy
TEB system-
(this turned out very well!)
Congradulatin on catching the move. I was just few minutes late in watching the monitor when that BIG down move was made.
Have a general trading questions for you. How often do you monitor the chart when you are trading? It seems that the best setup happens just few times a day and it really is difficult for me to watch all day (due to short attention span) to make the trade at the right moment.
Do you constanly stare at the chart, Every few minutes? all the time? Would love to hear your input.
BTW, I have been making PIPs with your system. Thanks a bunch.
Andy L
- #331
- Mar 27, 2007 11:49pm Mar 27, 2007 11:49pm
Nice down leg so far this week with several entries along the way. For some reason this pair often seems to start it's movement (of the week?) in the Asian session which works quite well for me in my time zone (PST). I often begin watching it from about 3:00 GMT onward, starting from the first Asian session of the week.
I prefer methods of trading that tend to tell me when to be watching the market. If one knows when to "be there" then a lot of tedious screen watching can be avoided while still catching the most favourable moves for the week - that's right, I tend to think weekly pips rather than intraday. Just found that's the way it works best for me. Lets me even have a life.
I prefer methods of trading that tend to tell me when to be watching the market. If one knows when to "be there" then a lot of tedious screen watching can be avoided while still catching the most favourable moves for the week - that's right, I tend to think weekly pips rather than intraday. Just found that's the way it works best for me. Lets me even have a life
.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
- #332
- Edited 1:53am Mar 28, 2007 1:31am | Edited 1:53am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
So how is everyone this morn!
What is going on?
Anyone got a set-up?
did anyone get the Usd/Cad
What is going on?
Anyone got a set-up?
did anyone get the Usd/Cad
- #335
- Mar 28, 2007 1:44am Mar 28, 2007 1:44am
- Joined May 2006 | Status: Professional trader, owner of MTC | 1,521 Posts
- #336
- Mar 28, 2007 2:04am Mar 28, 2007 2:04am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
man I don't see much or I am late for the party already
aud/Jpy? (but the day not good to support the 4 hour & 30 min)
aud/Jpy? (but the day not good to support the 4 hour & 30 min)
- #337
- Mar 28, 2007 2:28am Mar 28, 2007 2:28am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
cable short at 1.9626 ; gbpchf short at 2.3800 and euro short at 1.3334 lets see how it goes.
Hi Blanca
I think where the arrow is, is where you got in?
if so something I have found, do you see the big tail on the candle
it is a great tell that the trend is over
esp. if you see a few in a row
- #338
- Mar 28, 2007 2:38am Mar 28, 2007 2:38am
- Joined May 2006 | Status: Professional trader, owner of MTC | 1,521 Posts
- #340
- Mar 28, 2007 2:38am Mar 28, 2007 2:38am
- Joined Mar 2007 | Status: Trader | 1,086 Posts
The quality of your life is brought about by the quality of your thinking.