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Directional Movement

  • #61
  • Apr 4, 2009 11:39am Apr 4, 2009 11:39am
This is the best laugh I have had all week.

"I'll have to part company on the candle formations. I've found them to be about like reading tea leaves".

Really, tickled me for some reason, perhaps because I am British and my grandmother read tea leaves occasionally.
Starting to see instead of just looking.
  • #62
  • Apr 6, 2009 9:47am Apr 6, 2009 9:47am
Only one trade today on eur/usd.

I personally missed this one due to doing something else at the time.

It is best to stay out if you have missed the signal originally.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd - 1h 06.04.2009.gif Size: 45 KB
  • #63
  • Apr 6, 2009 11:37am Apr 6, 2009 11:37am
aud/usd was a good trade today.

Not normally a pair that I trade but the system gave antoher solid signal to sell on the close of the candle that I have highlighted.
Attached Image (click to enlarge)
Click to Enlarge Name: aud-usd - 1h 06.04.2009.gif Size: 46 KB
  • #64
  • Apr 6, 2009 11:52am Apr 6, 2009 11:52am
valid signal on gbp/usd.

Will be interesting to see how this one pans out.

I would be a little dubious of entering as price has made a long charge with no real pull back.

Also it is late in the day of uk trading.

We shall see.

It should have got to break even at the worst.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd - 1h 06.04.2009.gif Size: 46 KB
  • #65
  • Edited 12:59am Apr 7, 2009 12:56am | Edited 12:59am
my trade is all manually done. i want u to tell me how i can get the arrow in my platform in accordance with my strategy.i am not a computer programmer ,how do i do this?
i know that u have made some money this time on sell the sell trade ....lol

lucky
  • #66
  • Apr 7, 2009 4:39am Apr 7, 2009 4:39am
Thanks for posting the details of your system, ACartwright.


I haven't seen anything so far about the initial stop placement, or movement of stops as the trade progresses.


I am making the logical assumption of placing the initial stop behind the latest swing high/low. (See the attached chart)


I understand your exit rule "When there is a down movement (long) or an up movement (short) in the histogram place your take profits on the low of the corresponding candle."


In the mean time it might be wise to trail the stop behind 2 or 3 closed bars to guard against any explosive move against your position while waiting for the exit condition to occur.


What do you think?


By the way, I am (temporarily) in profit 103 pips on that trade as I write.
Attached Image (click to enlarge)
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  • #67
  • Apr 7, 2009 5:04am Apr 7, 2009 5:04am
Quoting PistolDave
Thanks for posting the details of your system, ACartwright.


I haven't seen anything so far about the initial stop placement, or movement of stops as the trade progresses.


I am making the logical assumption of placing the initial stop behind the latest swing high/low. (See the attached chart)


I understand your exit rule "When there is a down movement (long) or an up movement (short) in the histogram place your take profits on the [FONT=Comic...
Hi Dave,

The exit strategy is a little rough as I do not have any hard and fast rules. I simply move my position on feeling.

Often I reduce the stop in line with the following candles high/lows and try to get to b/e when it is possible (without compromising my position.

As for the initial stop loss this can be either be in relation to the last swing high/low or I use the high/low of the indicating candle.

In theory a downtrend is a series of lower highs and lower lows - a stop should not be hit when you are in the trend - I do however leave a little room just in case of the pip hunters.

I am glad that you have had early success so far and look forward to your commetns going forward.
  • #68
  • Apr 7, 2009 5:13am Apr 7, 2009 5:13am
GBP/JPY - Trade I just got into.

Sold on indicating candle with a take profit at first support level at 146.00.

In and out for approx 60 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-jpy - 1h 07.04.2009.gif Size: 48 KB
  • #69
  • Apr 7, 2009 9:46am Apr 7, 2009 9:46am
Results today so far from the more "major" pairs.

Cad/jpy - -53 outright loss
Gbp/chf - +118 max (still live)
Gbp/chf - +80 max
Gbp/usd - +44 max
Eur/jpy - +210 max
Eur/usd - +48 max

It would have been very difficult not have made pips today.
  • #70
  • Apr 7, 2009 10:25am Apr 7, 2009 10:25am
Just calculated other pairs as follows:

usd/jpy - +41 max
chf/jpy - +135 max
eur/gbp - +81 max
  • #71
  • Apr 7, 2009 11:28am Apr 7, 2009 11:28am
hi acartwright, great system you have there. may i know how long have you been using this system (no offense)? and what do you mean when you said breakeven is 30-40 pips (under your rules)? and upon entry, you will take the high or low of that entry bar as your initial stop levels? tks....
  • #72
  • Apr 7, 2009 11:34am Apr 7, 2009 11:34am
Quoting sholmes9000
hi acartwright, great system you have there. may i know how long have you been using this system (no offense)? and what do you mean when you said breakeven is 30-40 pips (under your rules)? and upon entry, you will take the high or low of that entry bar as your initial stop levels? tks....
Hi there,

In answer to your questions:

1. Once trade is up 30-40 pips try to move stop loss to b/e.
2. Stoploss goes on high of indicating candle for short and low of indcating candle for long.
3. I have been playing around with the DMI for around 4 years and have demoed using confirming indicators. The MACD is the best one I have found.

Hope that helps.
  • #73
  • Apr 7, 2009 11:38am Apr 7, 2009 11:38am
This is a very simple yet powerful trading system that I will try it for sure! Thanks.
  • #74
  • Apr 7, 2009 11:43am Apr 7, 2009 11:43am
Quoting vladv
This is a very simple yet powerful trading system that I will try it for sure! Thanks.
The best way to look at it is to scroll the prices off your screen completely.

Then mark where you would get into the trades based on the strategy.

When this is done reveal the price - you will see a positive result.
  • #75
  • Apr 7, 2009 11:51am Apr 7, 2009 11:51am
Quoting ACartwright
Hi there,

In answer to your questions:

1. Once trade is up 30-40 pips try to move stop loss to b/e.
2. Stoploss goes on high of indicating candle for short and low of indcating candle for long.
3. I have been playing around with the DMI for around 4 years and have demoed using confirming indicators. The MACD is the best one I have found.

Hope that helps.
thanks v much for swift reply.
been using adx to trade euro for sometime as well but not as consistent as compared to your system.
and one last question, do you just look at one time frame ie the 1 hour time frame? tks
  • #76
  • Apr 7, 2009 11:54am Apr 7, 2009 11:54am
Quoting sholmes9000
thanks v much for swift reply.
been using adx to trade euro for sometime as well but not as consistent as compared to your system.
and one last question, do you just look at one time frame ie the 1 hour time frame? tks
I use this strategy on hourly due to the reasons in my first post.

This does work on any time frame and any pair.

You just have to alter your exit strategy accordingly dependent on pair as some move further than others.
  • #77
  • Apr 7, 2009 12:01pm Apr 7, 2009 12:01pm
Quoting ACartwright
I use this strategy on hourly due to the reasons in my first post.

This does work on any time frame and any pair.

You just have to alter your exit strategy accordingly dependent on pair as some move further than others.
tks acartwright.
hopefully am able to can post some results using your system soon.
tks for sharing.
  • #78
  • Apr 7, 2009 1:38pm Apr 7, 2009 1:38pm
Is the ADX indicator posted in the thread? Thanks!
  • #79
  • Apr 7, 2009 1:39pm Apr 7, 2009 1:39pm
Quoting $aly
hi there
i use this method for over 3 month,,, 6 gmt candle in GBP/GPY and gbp/usd have this behavior if this method use with pivot and psy... points very profitable..U R not first one who discoverd that!!!!!!!.. .. and its better using in gbp/usd...............
Can you show a screen shot of how you trade this? Thanks
  • #80
  • Apr 7, 2009 1:46pm Apr 7, 2009 1:46pm
Originally Posted by $aly http://www.forexfactory.com/images/buttons/viewpost.gif
hi there
i use this method for over 3 month,,, 6 gmt candle in GBP/GPY and gbp/usd have this behavior if this method use with pivot and psy... points very profitable..U R not first one who discoverd that!!!!!!!.. .. and its better using in gbp/usd...............


Quoting todder
Can you show a screen shot of how you trade this? Thanks
In answer to your question Todder perhaps that should be answered on a different thread.
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