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Yet another 50 SMA trading strategy

  • #101
  • May 11, 2009 11:41pm May 11, 2009 11:41pm
Checking back with GU. Is this right?

So basically there is a trade after the breach of the last fractal
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 62 KB
  • #102
  • May 12, 2009 9:41am May 12, 2009 9:41am
Quoting AndsX
Checking back with GU. Is this right?

So basically there is a trade after the breach of the last fractal
I hope you also put the buy limit as well

I closed it @ 6% gain
  • #103
  • May 12, 2009 6:26pm May 12, 2009 6:26pm
Quoting melpheos
I hope you also put the buy limit as well

I closed it @ 6% gain
on demo though . Was i right about the there is a trade after the breach of the last fractal?

Still trying to understand the system better. How do you handle you SL? Do you put something like 30pips?
  • #104
  • May 12, 2009 8:15pm May 12, 2009 8:15pm
Is there a way to avoid trade like this or it's just a part of the game.
Attached Image (click to enlarge)
Click to Enlarge Name: EJEntries.gif Size: 51 KB
  • #105
  • May 12, 2009 10:59pm May 12, 2009 10:59pm
Quoting AndsX
Is there a way to avoid trade like this or it's just a part of the game.
It's part of the game. If you find a solution i will take it gladly

Quoting AndsX
on demo though . Was i right about the there is a trade after the breach of the last fractal?

Still trying to understand the system better. How do you handle you SL? Do you put something like 30pips?
Your were not right or wrong. The system was followed. That's all.

Usually i take the previous reverse fractal if it's not too far, otherwise i take the 50SMA.

But the SL is not very important. What is important is making a proper risk calculation.

For example if you have 1000$ and want to risk 2% (20$) on a €$ trade and your SL is 20 pips , then your size lot should be 9000$ (that would be 0.09 standard size lot)
If your SL is 40 pips your size lot should be 4700$ ( 0.047 lot size) at current price.

Only Oanda will provide you a proper risk calculation if your account size is small.
  • #106
  • May 12, 2009 11:07pm May 12, 2009 11:07pm
Quoting melpheos
It's part of the game. If you find a solution i will take it gladly



Your were not right or wrong. The system was followed. That's all.

Usually i take the previous reverse fractal if it's not too far, otherwise i take the 50SMA.

But the SL is not very important. What is important is making a proper risk calculation.

For example if you have 1000$ and want to risk 2% (20$) on a €$ trade and your SL is 20 pips , then your size lot should be 9000$ (that would be 0.09 standard size lot)
If your SL is 40 pips your size lot should be 4700$...
Cool.. that trade was offset by a buy on EJ . On the fractals is it a buy after breaching red and sell after breaching the last blue fractal. Since on the trade below is the sell limit to be placed below the red or the blue
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.gif Size: 45 KB
  • #107
  • Edited 7:16am May 13, 2009 6:17am | Edited 7:16am
Quoting 8pip
do you use candle stick for trading or do you attaching more ?
Sorry i dont get your question.... If you are asking if i use candle stick pattern, then yes i use some of them but not that often. I have more regard for support resistance.

For the second, i really dont get the meaning of your question.

And this is for AndsX
Attached Image
  • #108
  • May 13, 2009 11:09am May 13, 2009 11:09am
http://www.forexfactory.com/attachme...1&d=1242224136

you mean in broken resistance @ Green Cericle (BuyStop ) not (Buy limit ) am i right ??
Never sell @ lower upward channel unless breacked and vise versa .
  • #109
  • May 13, 2009 12:09pm May 13, 2009 12:09pm
Quoting WedWed

you mean in broken resistance @ Green Cericle (BuyStop ) not (Buy limit ) am i right ??
Yes buy stop of course. I said buy limit because i'm working on Oanda for some time now and it uses only buy limit and sell limit. Those are just words depending on where the price is, the result will be the same
  • #110
  • May 13, 2009 12:53pm May 13, 2009 12:53pm
I come cross this system today and try out, it look great. but did i need to trend first if yes how do I do that. thank
  • #111
  • May 13, 2009 1:48pm May 13, 2009 1:48pm
Quoting WedWed
http://www.forexfactory.com/attachme...1&d=1242224136

you mean in broken resistance @ Green Cericle (BuyStop ) not (Buy limit ) am i right ??
Cool...
  • #112
  • May 14, 2009 1:45am May 14, 2009 1:45am
Too many whipsaws today ... 3 on EJ , 2 on GU, 1 on UJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJEntries.gif Size: 50 KB
Click to Enlarge Name: UJ.gif Size: 52 KB
Click to Enlarge Name: GU.png Size: 70 KB
  • #113
  • May 14, 2009 2:48am May 14, 2009 2:48am
Melphoes, I watched 8 pairs today during the London session. There were too many trades to manage. How many and what pairs are you watching using this method? And, when I was in an EU long position, I got an EJ short entry, how would you deal with such situation?
Thanks.
  • #114
  • Edited 11:47am May 14, 2009 8:10am | Edited 11:47am
Quoting AndsX
Too many whipsaws today ... 3 on EJ , 2 on GU, 1 on UJ
Yes that was a very sucky day, i lost 6% and haven't made it back. I'm on the €$ trade now but i will quit for today if it goes wrong too...

edit : haaa finally, my €$ is making 6% and €yen 4%, it took some time but i'm back on track ^^
  • #115
  • Edited 8:36am May 14, 2009 8:22am | Edited 8:36am
Quoting xecret
Melphoes, I watched 8 pairs today during the London session. There were too many trades to manage. How many and what pairs are you watching using this method? And, when I was in an EU long position, I got an EJ short entry, how would you deal with such situation?
Thanks.
If you have contradicting situation, one should not take the trade because there is a lot of chance that this will be a false brakeout. On the other hand it could be a could option to filter bad trade. I will look into that to see if it help filter more bad trade than good trade.

On the long term this strategy is a winner yet on ranging period you will have drawdown up to 10%. That's also why you should trade on higher TF that are less likely to have false breakout. But on longer TF, you should use a faster SMA.

My advice of pair to choose would be GBPUSD, EURUSD, EURYEN, USDYEN, USDCAD and NZDUSD, you can eventualy add GBPYEN.

Move away from EURCH pair on any TF. This pair sucks big time ATM. But this pair is good for scalping but not with this strategy.
  • #116
  • May 14, 2009 1:03pm May 14, 2009 1:03pm
Quoting melpheos
Yes that was a very sucky day, i lost 6% and haven't made it back. I'm on the €$ trade now but i will quit for today if it goes wrong too...

edit : haaa finally, my €$ is making 6% and €yen 4%, it took some time but i'm back on track ^^
Good you got it back.. I assume all these trades where based just on this startegy?
  • #117
  • May 14, 2009 1:46pm May 14, 2009 1:46pm
Quoting AndsX
Good you got it back.. I assume all these trades where based just on this startegy?
Absolutly, nothing else
  • #118
  • May 14, 2009 3:22pm May 14, 2009 3:22pm
Quoting melpheos
Absolutly, nothing else
Do you trade EU, GU and EY only?
  • #119
  • May 14, 2009 11:11pm May 14, 2009 11:11pm
The trade marked in the picture is not valid right since the price pierced to the other side of EMA?

Just clarifying
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 52 KB
  • #120
  • Edited 12:49am May 15, 2009 12:05am | Edited 12:49am
Quoting AndsX
The trade marked in the picture is not valid right since the price pierced to the other side of EMA?

Just clarifying
Nope, i'm in this trade right now. I had the chance to look the chart during the retracement and took it with a better SL than what i should have (20 instead of 30)

3% gain allready.

I was watching the yen pairs too but had no entry point. Also it seems the GBPUSD is the USD pair that dropped the less comparing to the other USD pair :-/

Edit : damned, closed on SL @ 2% gain... I fell it could have gave more :-/
Attached Image
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