EUR/GBP Trendmagic System | Page 148 | Forex Factory

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EUR/GBP Trendmagic System

  • #2,941
  • Jun 24, 2009 8:33am Jun 24, 2009 8:33am
Quoting TudorGirl
All,

I am really struggling with the M5/M1 system, but doing fine on the H1. I went short on EU at 1.4111 at 0900 GMT this morning and set TP=1.4007, 5 pips above the Daily Pivot (1.4002).

Just touched 1.4004 before bouncing. How's that for not wasting pips!

Anne
I am also doing better with H1, put these trades on before I went to bed (EST) and managed SL with swiss army knife EA. Ended up closing manually

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  • #2,942
  • Jun 24, 2009 8:47am Jun 24, 2009 8:47am
GBPUSD
GBPJPY
EURGBP
EURJPY
EURUSD

Market is quite choppy ahead of FOMC.
GBPJPY should have been avoided today!

Settings 5/14 on 5m TF.

4 minilots per trade with preset TP targets.

I am going to give it another go later during the week or early next week, once the market settles down, it was a challenge today.
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" Never let the past hold the future to ransom "
  • #2,943
  • Jun 24, 2009 8:47am Jun 24, 2009 8:47am
Hi Blud4oilPrgm
what is your strategy on the 1hr charts?
cheers
Ian

Quoting Blud4oilPrgm
I am also doing better with H1, put these trades on before I went to bed (EST) and managed SL with swiss army knife EA. Ended up closing manually

Attachment
  • #2,944
  • Jun 24, 2009 8:57am Jun 24, 2009 8:57am
Renko chart 5pip bar.
I find this type of chart very helpful.
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  • #2,945
  • Jun 24, 2009 9:04am Jun 24, 2009 9:04am
Quoting tommyd
Renko chart 5pip bar.
I find this type of chart very helpful.
Wow where do u fnd renko indicator??? can u post it?
  • #2,946
  • Jun 24, 2009 9:08am Jun 24, 2009 9:08am
M1 results on demo:

I'm doing wrong something...but i don't understand where....
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  • #2,947
  • Jun 24, 2009 9:09am Jun 24, 2009 9:09am
Signals are pretty good.

Am a bit uneasy with FOMC on deck as GlenEagle mentioned, but adequate PA to scalp with is intact. 14 WMA (0r TM with 10/20 setting and changing color) working well as a SL buffer.

Regards.
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  • #2,948
  • Jun 24, 2009 9:12am Jun 24, 2009 9:12am
Quoting iansr1
Hi Blud4oilPrgm
what is your strategy on the 1hr charts?
cheers
Ian
I'm just using Vorticity with a 15 and 30 period MA. When price dips below both MA's (or close to it by bed time) and Vorticity is red time to go short, and vice versa.

Usually I just shoot for 50 pips on EUR/GBP but I put too many digits on my "MaxProfitPip" setting in the EA after dealing with 5 digit pair. So I closed it manually after I woke up. You can also specify max profit in dollars.
  • #2,949
  • Jun 24, 2009 9:18am Jun 24, 2009 9:18am
Quoting metatsock
M1 results on demo:

I'm doing wrong something...but i don't understand where....
Throw a couple of chart shots up and the community can review your entries and exits better.

Regards.
  • #2,950
  • Jun 24, 2009 9:18am Jun 24, 2009 9:18am
Quoting metatsock
Wow where do u fnd renko indicator??? can u post it?

Here is a Renko type indicator you can look at, it can be found on this forum but it is not what you see in my post above.
That is a script/ea from mqlservice.net but it is not free so I can not post that.
The advantages of the script is you can place indicators on it and it functions like any other chart.
For a day trader looking for 10 - 50 pips a shot I think this is a great way to go.
Attached File(s)
File Type: mq4 RENKO_2.mq4   9 KB | 673 downloads
  • #2,951
  • Jun 24, 2009 9:24am Jun 24, 2009 9:24am
My new entry: GJ long at 157.70 SL 157.55
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  • #2,952
  • Jun 24, 2009 9:27am Jun 24, 2009 9:27am
Quoting tommyd
Here is a Renko type indicator you can look at, it can be found on this forum but it is not what you see in my post above.
That is a script/ea from mqlservice.net but it is not free so I can not post that.
The advantages of the script is you can place indicators on it and it functions like any other chart.
For a day trader looking for 10 - 50 pips a shot I think this is a great way to go.
Interesting avatar!

Another Renko vote on the books. Closing the gap. Are deadly when scalping as has been mentioned.

Regards.
  • #2,953
  • Jun 24, 2009 9:28am Jun 24, 2009 9:28am
Quoting metatsock
My new entry: GJ long at 157.70 SL 157.55
Hit SL -15pips

Am i wrong in something????
  • #2,954
  • Jun 24, 2009 9:30am Jun 24, 2009 9:30am
Quoting tommyd
Here is a Renko type indicator you can look at, it can be found on this forum but it is not what you see in my post above.
That is a script/ea from mqlservice.net but it is not free so I can not post that.
The advantages of the script is you can place indicators on it and it functions like any other chart.
For a day trader looking for 10 - 50 pips a shot I think this is a great way to go.
Tnx i had it...but it doesn't work so well....
Tnx for information i will see mqlservice.net
  • #2,955
  • Jun 24, 2009 9:30am Jun 24, 2009 9:30am
Quoting Badass_UA
Please, have a look at the chart below.
When I see market like this, should I try to find entry point
or is it better to stay away and wait for some time?
Thanks.
Sorry for my english



http://s50.radikal.ru/i127/0906/25/aeee7c507afe.jpg

When you see PA like this and TM is flat, put on the chart TD HI-LO - reverse the colors of the dots , so you dont get confused and you still make pips unless PA is completely flat. Give it a try, i have good results.
  • #2,956
  • Jun 24, 2009 9:39am Jun 24, 2009 9:39am
Quoting metatsock
Hit SL -15pips

Am i wrong in something????
I am no expert in this method but here is what I see.

I would have entered much sooner , look down to bottom where TudorGirls indie confirms the trix like at 157.40 ish. (also confirmed by TM)
I would have been looking to take profit just prior to your entry at the other side of the cog.
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  • #2,957
  • Jun 24, 2009 9:40am Jun 24, 2009 9:40am
Quoting metatsock
Hit SL -15pips

Am i wrong in something????
A 15 pip SL on GJ is way too tight.
  • #2,958
  • Jun 24, 2009 9:43am Jun 24, 2009 9:43am
Quoting Edgetrader
A 15 pip SL on GJ is way too tight.
i followed rules...Sl is to be set at previous flat line of TM....
I'm a bit confused...
  • #2,959
  • Jun 24, 2009 9:48am Jun 24, 2009 9:48am
Quoting metatsock
Hit SL -15pips

Am i wrong in something????
1) Not every trade will automatically work
2) The market is in limbo before FOMC with low volatility
3) Using 15 pips stop on GBPJPY means you will be stopped out on most trades
4) GBPJPY is in a range, draw horizontal lines on highs and lows
5) You entered in the middle of the range
6) If you want to test the concept, don`t trade now or pick another pair
" Never let the past hold the future to ransom "
  • #2,960
  • Jun 24, 2009 9:53am Jun 24, 2009 9:53am
What is the correct way to interpret this indie? Is it valuable on lower time frames?

Quoting tommyd
Here is a Renko type indicator you can look at, it can be found on this forum but it is not what you see in my post above.
That is a script/ea from mqlservice.net but it is not free so I can not post that.
The advantages of the script is you can place indicators on it and it functions like any other chart.
For a day trader looking for 10 - 50 pips a shot I think this is a great way to go.
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