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5 Seconds " L "

  • #181
  • Edited 4:55pm May 16, 2009 4:30pm | Edited 4:55pm
HI EVERYONE,
I HAVE MOVED MY THREAD TO JOURNALS for 2 reasons. I do this to keep track of my trading and I don't permit indicators/EA to trade for me
Still, Feel free to follow and comment
Invest in alarm clocks
  • #182
  • May 17, 2009 2:35am May 17, 2009 2:35am
Quoting Tony112
HI EVERYONE,
I HAVE MOVED MY THREAD TO JOURNALS for 2 reasons. I do this to keep track of my trading and I don't permit indicators/EA to trade for me
Still, Feel free to follow and comment
don't worry, there wouldn't be any EA becoz oanda doesn't have mt4 and mt4 doesn't have 5 sec chart. There is no way anyone gonna make EA for this.
  • #183
  • May 17, 2009 1:58pm May 17, 2009 1:58pm
Also this way you (hopefully) won't get people telling you to apply filter indicators and ways you can improve your system, seeing as at the moment it looks perfect.

Great system man, wishing you the best in full time trading. Big chunk of holiday coming up for me, screw going out and enjoying summer, Lets get some chart time instead.

Now lets see some of those Oanda statements.
  • #184
  • May 17, 2009 3:40pm May 17, 2009 3:40pm
Hi Tony:
In reviewing the tread, some of your entries have a clear L and others don't have an L at your entry. Have I missed something? Would like to understand the difference.

Thank you,

Steve
  • #185
  • May 17, 2009 4:13pm May 17, 2009 4:13pm
Quoting hazel1919
Tony,

I believe this thread has incredible practical value since the power of the pip is grossly overlooked by the majority of traders.

Attached please find my results of trading the "L" system for the last three weeks. Roughly 80 trades have yielded 27% profit. This was traded on a real live (albeit small) account.

That should be satisfactory by anyone's book. Like you, I keep a tight SL, but differ in that I grab the first profit that appears within 15 seconds.

Now that is the definition of scalping.

Since Tony initated this thread, I...
Well done hazel. You plan on continuing with this system?

I noticed that it is certainly more successful in my opinion that profit is taken soon and locking in few pips instead of chasing 30-50 pip drops. Overall few pips a few dozen times can really add up just like you proved.
  • #186
  • May 17, 2009 9:58pm May 17, 2009 9:58pm
Quoting georgecotton
Also this way you (hopefully) won't get people telling you to apply filter indicators and ways you can improve your system, seeing as at the moment it looks perfect.

Great system man, wishing you the best in full time trading. Big chunk of holiday coming up for me, screw going out and enjoying summer, Lets get some chart time instead.

Now lets see some of those Oanda statements.

I agree, business before pleasure as always. After, we might roll in something even bigger for the end of the summer. I spend most of my last summer in front of the pc even though I used to be someone that used to go out a lot before... When I have a goal I love to get lost and focus too... but during daytime there isn't much price action so I might enjoy a few BBQs & Piña coladas once in a while
Invest in alarm clocks
  • #187
  • May 18, 2009 5:48am May 18, 2009 5:48am
Quoting hazel1919
Attached please find my results of trading the "L" system for the last three weeks. Roughly 80 trades have yielded 27% profit. This was traded on a real live (albeit small) account.

After all... the proof is in the pudding.
Dear Hazel!
Would You Post Your Oanda (or broker) account statement, too? There is a mistake in Your Excel sheet, and Your result should not be 27% with these results. I would like to check it.
THX,
M. Poirot
  • #188
  • May 19, 2009 4:44am May 19, 2009 4:44am
Attached please find actual Oanda results. (My previous excel was extrpolated to $1000 starting balance for ease of analysis.)

As I mentioned... I traded this as a small real-money account... using many trades... nipping a pip here and a pip(ette) there.

The proof is in the pudding.

Whether I will have the same stability of mind to trade a big account with the same criteria remains to be seen. This is where the boys are seperated from the men.

I encourage others to post their results for all see. Surely someone else has got results to show here?
Attached File(s)
File Type: xls Oanda Results.xls   85 KB | 621 downloads
  • #189
  • May 19, 2009 5:34pm May 19, 2009 5:34pm
does anyone have any experience scalping Eu 5 second chart entering when price goes beyond the Oanda pivot point outside lines? It seems to be good for 3-5 pip reversals.

Steve
  • #190
  • May 19, 2009 8:05pm May 19, 2009 8:05pm
felt bored, not good
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Invest in alarm clocks
  • #191
  • May 19, 2009 9:46pm May 19, 2009 9:46pm
I'm down a bit on my new balance. Took a few losses. Need more volatility
Invest in alarm clocks
  • #192
  • May 20, 2009 9:10pm May 20, 2009 9:10pm
Does this work with opposite L shapes that are above the WMA line? lol
  • #193
  • May 20, 2009 9:36pm May 20, 2009 9:36pm
yes and no. here is how I see this: going down the stairs is easier than going up the stairs. funny you might think but in EUR/USD... it applies.. I don't know why but it does and I can tell this by looking at charts for 325423.2 hours
Invest in alarm clocks
  • #194
  • May 20, 2009 9:43pm May 20, 2009 9:43pm
I believe your strategy is similar to those detecting outbreak of linear regression channel?
  • #195
  • May 21, 2009 3:58am May 21, 2009 3:58am
it moves a lot tonight
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Invest in alarm clocks
  • #196
  • May 21, 2009 4:00am May 21, 2009 4:00am
for my personal lesson
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Invest in alarm clocks
  • #197
  • May 21, 2009 4:02am May 21, 2009 4:02am
it moved so much this night I almost felt wind
Invest in alarm clocks
  • #198
  • May 21, 2009 9:20am May 21, 2009 9:20am
Quoting ppc123
I believe your strategy is similar to those detecting outbreak of linear regression channel?

maybe but with a 5 sec chart is pretty sharp
Invest in alarm clocks
  • #199
  • May 22, 2009 1:04am May 22, 2009 1:04am
Looking forward for similar things, tonight
Invest in alarm clocks
  • #200
  • May 22, 2009 1:15am May 22, 2009 1:15am
that was this morning
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