Great GBP/USD Strategy for Swing Trades | Page 17 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

5/6 candle swing low swing high Indicator 5 replies

Swing high / Swing low indictator+alert? 20 replies

High probability trade setups for day trades and swing trades 4 replies

Swing highs and swing lows 3 replies

swing high/swing low indicator and volume tic history 13 replies

Attachments: Great GBP/USD Strategy for Swing Trades
Exit Attachments

Great GBP/USD Strategy for Swing Trades

  • #321
  • Apr 9, 2007 11:22am Apr 9, 2007 11:22am
[quote=blueruby;266744]You're welcome. I'm happy to contribute what I can, for now. Someday maybe I'll be the guru helping all these frustrated newbies to become profitable, I hope.

Well, you helped me out last night and I appreciate it. Thanks for leading me to something new and setting me straight.
Illegitimi Non Carborundum
  • #322
  • Edited 11:41am Apr 9, 2007 11:22am | Edited 11:41am
Quoting El Nacho
+43 pips on this one since I caught the cross last night @ 1.9650 and Shorted!!! Too bad its on demo... Any similar results???
Up 30. It's always fun when it goes your way right off the bat.

I'm thinking of pulling the stop down around 9670 or so. Anyone else move their stop yet?
  • #323
  • Apr 9, 2007 12:26pm Apr 9, 2007 12:26pm
Very simple system, might be helpful! I'm stunned with recent sell - who would thought that during holiday you can get those pips

How many valid signals do you get per month and what avg pips do you make of it? I suppose on Cable that's more than 100?

PS bounce from fibo @ 9578?
  • #324
  • Apr 9, 2007 12:27pm Apr 9, 2007 12:27pm
Quoting blueruby
Someday maybe I'll be the guru helping all these frustrated newbies to become profitable, I hope.
You're being of great help NOW!

This is becoming a really great thread.

Many thanks!
FXS


I'm a Thing-Finder, and when you're a Thing-Finder you don't have
a minute to spare.
-Pippi Longstocking
  • #325
  • Apr 9, 2007 12:31pm Apr 9, 2007 12:31pm
Can anyone tell me how to set up the EMA4,13, 50 settings on the chart. I'm a newbie and don't know how to set it. thx.
  • #326
  • Apr 9, 2007 12:33pm Apr 9, 2007 12:33pm
I have moved it to 9674 from 9690, I always like to give enough room
Quoting blueruby
Up 30. It's always fun when it goes your way right off the bat.

I'm thinking of pulling the stop down around 9670 or so. Anyone else move their stop yet?
  • #327
  • Apr 9, 2007 12:55pm Apr 9, 2007 12:55pm
Quoting starlucky9009
Can anyone tell me how to set up the EMA4,13, 50 settings on the chart. I'm a newbie and don't know how to set it. thx.
On the top right click on indicator box (green cross)

Moving average

Period (4, 13, or 50)

MA Method (exponential)

Set color and line thickness as you like

That's it.

Happy trading!
FXS
  • #328
  • Apr 9, 2007 12:59pm Apr 9, 2007 12:59pm
I replied to your previous request
http://www.forexfactory.com/showpost...&postcount=285
Quoting starlucky9009
Can anyone tell me how to set up the EMA4,13, 50 settings on the chart. I'm a newbie and don't know how to set it. thx.
  • #329
  • Apr 9, 2007 1:00pm Apr 9, 2007 1:00pm
Quoting FXSurfer
You're being of great help NOW!

That sounds dangerous. When I'm profitable for 4 - 6 weeks in a row, then we'll see about it.
  • #330
  • Apr 9, 2007 3:10pm Apr 9, 2007 3:10pm
Quoting blueruby
Up 30. It's always fun when it goes your way right off the bat.

I'm thinking of pulling the stop down around 9670 or so. Anyone else move their stop yet?
What is happening right now? all pips made is going. should i still stick to the rule?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #331
  • Apr 9, 2007 3:31pm Apr 9, 2007 3:31pm
Wait. This is a non-discretionary system. The minute you try and out-think the market, is the minute you will lose. You must accept losses if they come. With patience, the wins will come and outnumber the losses.
Life is too short to have anything but delusional notions about yourself.
  • #332
  • Apr 9, 2007 5:36pm Apr 9, 2007 5:36pm
I agree with Hoss
However, my concern is where to put the stop. I try to put it somewhere that, were the price to hit it, would be a high probability that the trend is reversing. Right now its at 9674.

Now an important question: If the 4 EMA crosses the 13 EMA, do we wait for the start of a new candle and then close the position, or do we close the position as soon as we see the cross? It could uncross itself in that case as well.
  • #333
  • Apr 9, 2007 5:44pm Apr 9, 2007 5:44pm
I can't emphasize enough how important that is in my opinion.

BTW, are you Ohio State fan? Aren't the Buckeyes from there? I went there for 6 months...to I should know

Quoting hoss
Wait. This is a non-discretionary system. The minute you try and out-think the market, is the minute you will lose. You must accept losses if they come. With patience, the wins will come and outnumber the losses.
  • #334
  • Apr 9, 2007 8:22pm Apr 9, 2007 8:22pm
If you would look back into the thread, someone ( I don't remember who) suggested that you might consider exiting when the 4 hour stocs cross and wait to see if they cross back over (and re-enter the trade in the original direction) AND verify that the daily stocs are still going into the direction of the trade. I would highly suggest going back to look for a clarification on the above .

THIS IS NOT WHAT VYNNER RECOMMENDS.
Robert DeCuir
  • #335
  • Apr 9, 2007 8:32pm Apr 9, 2007 8:32pm
Yep! From Columbus!

Quoting tradeigel
I can't emphasize enough how important that is in my opinion.

BTW, are you Ohio State fan? Aren't the Buckeyes from there? I went there for 6 months...to I should know
Life is too short to have anything but delusional notions about yourself.
  • #336
  • Apr 9, 2007 8:55pm Apr 9, 2007 8:55pm
Position hit stop for loss of 40 pips.
We might see a long signal soon, so I'll be ready for that.
  • #337
  • Apr 9, 2007 8:59pm Apr 9, 2007 8:59pm
Quoting zamakhtar
Position hit stop for loss of 40 pips.
We might see a long signal soon, so I'll be ready for that.
Daily Stoch still shows down? What are the re-entering rules for this strategy?
  • #338
  • Apr 9, 2007 9:01pm Apr 9, 2007 9:01pm
Quoting lkwd2000
Daily Stoch still shows down? What are the re-entering rules for this strategy?
Oh yea good point, then I guess that would not be a valid signal.
  • #339
  • Apr 9, 2007 9:18pm Apr 9, 2007 9:18pm
On this current signal I was at one point 50 pips in profit (stop loss was 50 pips), should I have set my stop loss to break even? I only lowered it by about 10 pips instead, so I have ended up with a 40 pip loss.

My concern is because this signal, in backtesting, would probably be considered a winner or at least break even but perhaps I have mismanaged the trade?

Otherwise, I will just accept this as a normal cost of trading an overall profitable system.
  • #340
  • Apr 9, 2007 9:31pm Apr 9, 2007 9:31pm
This system is not based on moving stops. Although moving it to break even in this case may have saved you money, in other cases it would have taken you out early and you may miss a 200-300 pip run.

It's amazing sometimes how one 4hr candle comes along and wipes these trades out.
Life is too short to have anything but delusional notions about yourself.
6 traders viewing now