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Attachments: 34ema/atr
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34ema/atr

  • #61
  • Apr 5, 2007 2:01am Apr 5, 2007 2:01am
more for you ace
Attached Images
Welcome to the Layer Cake son!
  • #62
  • Apr 5, 2007 2:02am Apr 5, 2007 2:02am
Quoting coolshades
for me on this yesterday night and was successul.. a short with a tp of 15 pips.. i believe with this system you shd be able to get 10-15 pips easily.. couple that with multiple lots.. 50 pip a week gives you a good living

i second that coolshades
wahomeron
Welcome to the Layer Cake son!
  • #63
  • Apr 5, 2007 2:44am Apr 5, 2007 2:44am
Hi there. My name is Anne Marie. I am very new to all of this and have been trying to figure it all out. I was wondering if you would be willing to answer a few questions for me?

1. I was wondering if you could tell me where you get your charts? I dont know where I would go to get them, and not sure how to apply them into my trading stratagy.

2. I was also wondering if you would be willing to explain to me what you mean by setup for 5 min? What is EMA envelops indicator? And lastly what is a channel?

I have a demo account with MBT. Thank you so much for even looking at this email.

Thank you for your time. Im just trying to figure it all out. If you are willing to answer my questions I appreciate you!!!


Quoting wahomeron
so here goes: setup for 5 minutes gbp/usd: EMA envelops indicator set @ 34 deviation 0.09. time frame: i prefer 5 minutes but the deviation can be changed to fit other timeframes. rules: for long entry, wait for price to touch the channel and then enter long when price retraces back to the 34 EMA. Reverse rules for short. Stop: on the opposite side of the channel. take profit: break even when price touches the channel and trail profits from here with a stop that get closer to the position as it moves in my favor. that is it, simple and clear. i welcome all constructive ideas and criticism. wahomeron.
  • #64
  • Apr 5, 2007 2:55am Apr 5, 2007 2:55am
Anne Marie , just open a demo account with any broker that use MetaTrader and you will find all your answers there.
  • #65
  • Apr 5, 2007 4:07am Apr 5, 2007 4:07am
Quoting AnneMarie
Hi there. My name is Anne Marie. I am very new to all of this and have been trying to figure it all out. I was wondering if you would be willing to answer a few questions for me?

1. I was wondering if you could tell me where you get your charts? I dont know where I would go to get them, and not sure how to apply them into my trading stratagy.

2. I was also wondering if you would be willing to explain to me what you mean by setup for 5 min? What is EMA envelops indicator? And lastly what is a channel?

I have a demo account with MBT. Thank you so much for even looking at this email.

Thank you for your time. Im just trying to figure it all out. If you are willing to answer my questions I appreciate you!!!
hey Anne M. the best way to understand all these is to download a metatrader platform from metaquotes.net and input the indicatots yourself. There is nothing like first hand experience. If you are still clueless then look at any technical analysis website for a defination of indicators and their uses.
thanks gico.
anyone else got a better answer for our friend Anne Marrie please feel free to post.
wahomeron.
Welcome to the Layer Cake son!
  • #66
  • Apr 5, 2007 5:52am Apr 5, 2007 5:52am
hi wahomeron,thanks for sharing your system.may i ask how long have u been trading this method? whats the success rates? only for cable?
thanks
  • #67
  • Apr 5, 2007 6:08am Apr 5, 2007 6:08am
Quoting fxnewbie 71
hi wahomeron,thanks for sharing your system.may i ask how long have u been trading this method? whats the success rates? only for cable?
thanks
hi fxnewbie, i have been trading this system since September 06 and only for cable, i am sure it would work for other crosses but i am partial to cable.
cheers.
Welcome to the Layer Cake son!
  • #68
  • Apr 5, 2007 6:52am Apr 5, 2007 6:52am
Thanks for the charts. You have put together a nice simple easy to
design method. As with all method MM must be used. Thanks again.

AceTrader
  • #69
  • Apr 5, 2007 9:07am Apr 5, 2007 9:07am
Quoting acetrader
Thanks for the charts. You have put together a nice simple easy to
design method. As with all method MM must be used. Thanks again.

AceTrader
thanks for the support acetrader.
cheers
Welcome to the Layer Cake son!
  • #70
  • Apr 6, 2007 4:21am Apr 6, 2007 4:21am
Quoting wahomeron

  1. i always break even @ the channel then trail profits from here with a fast moving stop.
  2. <20 pips = B/E
  3. 40 pips= lock in 10 pips
  4. 60 pips= lock in 30 pips
  5. 70 pips= lock in 50 pips
  6. 80 pips= lock in 70 pips
  7. close trade @ round numbers. for example 1.9600

Hi wahameron!
Thank you for sharing your system!
Could you graphicaly show one of this processes?
Thank you very much!
  • #71
  • Apr 6, 2007 5:18am Apr 6, 2007 5:18am
Quoting aktaurus
Hi wahameron!
Thank you for sharing your system!
Could you graphicaly show one of this processes?
Thank you very much!

hi aktaurus, thanks for your interest but i do not understand your question. Please expound.
Welcome to the Layer Cake son!
  • #72
  • Apr 6, 2007 6:01am Apr 6, 2007 6:01am
Quoting wahomeron
hi aktaurus, thanks for your interest but i do not understand your question. Please expound.
Thank you for your reply!
I ask you to show some episode on history where you trailed your stop as you describe it. Is it possible?
Thank you!
  • #73
  • Edited 6:40am Apr 6, 2007 6:06am | Edited 6:40am
hi wahomeron, I find your system very interesting. Cable yesterday was a very good example of this entry strategy applied.

We should develop a strategy for exits.
The quality of your life is brought about by the quality of your thinking.
  • #74
  • Apr 6, 2007 5:01pm Apr 6, 2007 5:01pm
Quoting wahomeron
right now!
on this post,post #12 on the 29th march, you show the price hitting the top of the tunnel but the market didn't move up. 8 hours later it hit bottom and still didn't move down.

the next day, 30th march, the price hits the top at 1.9645 and retraces down to ema34, 1.9625 and then just goes boom down 1,9540. How do you filter these trades, apart from SL on the other side of the tunnel.

I like your system and think it works great around 60% of the time if not more but, maybe we should think of having a filter as well as an exit strategy. maybe stochastic or MACD could become useful for both scenarios.

What do you think ?
The quality of your life is brought about by the quality of your thinking.
  • #75
  • Apr 7, 2007 12:35am Apr 7, 2007 12:35am
Quoting aktaurus
Thank you for your reply!
I ask you to show some episode on history where you trailed your stop as you describe it. Is it possible?
Thank you!

hi aktaurus, got a chart here for you to see the profit taking in action. This is the last trade from friday. In this particular trade i got a 50 pip profit since the market retraced back to 1.9658.
Let me know if you have any questions.
cheers.
Attached Image
Welcome to the Layer Cake son!
  • #76
  • Apr 7, 2007 12:51am Apr 7, 2007 12:51am
Quoting hornet
hi wahomeron, I find your system very interesting. Cable yesterday was a very good example of this entry strategy applied.

We should develop a strategy for exits.
hallo hornet, thanks for your interest. I would very much like to here your ideas on profit taking. As you can see, i have a profit taking setup but anything to improve on profitability is always open.
In my humble opinion, profit taking is what really makes or breaks a system, but also the most tricky part of system design.

As far as the false signals go, i have not found any technical filters that really give me an edge. Usually they tend to filter out a lot of good trades leaving me indecisive about the next signal. My only "filter" is no more than two bad trades a day.

Anyway i look forward to hearing any ideas that we can work together on.

cheers.
Welcome to the Layer Cake son!
  • #77
  • Apr 7, 2007 7:03am Apr 7, 2007 7:03am
Quoting wahomeron
hi aktaurus, got a chart here for you to see the profit taking in action. This is the last trade from friday. In this particular trade i got a 50 pip profit since the market retraced back to 1.9658.
Let me know if you have any questions.
cheers.
What exactly is the trigger doing and what does it represent? Does it mean you should look out for the upcoming entry?
  • #78
  • Apr 9, 2007 5:41am Apr 9, 2007 5:41am
Quoting jeffreytp
What exactly is the trigger doing and what does it represent? Does it mean you should look out for the upcoming entry?
no it means we had a trend alert towards the channel and now you just have to wait for it to retrace back to the 34 ema for entry.
Welcome to the Layer Cake son!
  • #79
  • Apr 9, 2007 9:56am Apr 9, 2007 9:56am
today`s update so far.
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Welcome to the Layer Cake son!
  • #80
  • Apr 9, 2007 10:03am Apr 9, 2007 10:03am
ok, thanks.

Quoting wahomeron
today`s update so far.
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