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Mister ED's 4 hour Heikin Ashi system

  • #221
  • Jul 21, 2009 8:50am Jul 21, 2009 8:50am
Quoting demons19
How do you handle it if the HA changes color, you enter the trade, get stopped out, but then price reverses and ends up going the way you originally wanted?
Do you ever jump back on that wagon or do you just ignore it and move on to the next one?

An example is the usdjpy which has a daily downtrend, retraced on the 4hr and created a faulty signal but still looks like it wants to go down. Would you entertain a sell after this price bar closes red?
I just trade on what the HA colour changes tell me. Trying to turn bad trade calls into good ones has always meant I get kicked in the teeth twice. It becomes an emotional mess then.

This is why I just trade the signals. It also means that I can test the data better and not fudge the results.

However there are many better traders than I who can alter their trades successfully. It is just not part of my system or the way I trade.

Your reading of the signals is correct so far.

Misyter ED
  • #222
  • Jul 21, 2009 8:53am Jul 21, 2009 8:53am
Mr. Ed...

Great thread!

Many members of the FXAW private forum are following your work; that's how I got here.

Have you (or anyone else for that matter) looked at this method on the H1 chart? Looks promising for those who are not comfortable with the H4. Just a suggestion.........
  • #223
  • Jul 21, 2009 9:09am Jul 21, 2009 9:09am
Quoting Mister ED
Hi Demons

Yes you managed to enter on a bad string of trades. I entered on the EURGBP trade on my current candle 16:00 and hit TP1 and so am trailing it now.

USDJPY looks like a trade later but still has 3 hours to go so the HA candle could change by then.

Good luck,

Mister ED
what price did you enter on the eurgbp at?
because my entry candle closed at .8647 + atr27= .8674 and I never reached that high (fxdd)
  • #224
  • Jul 21, 2009 9:45am Jul 21, 2009 9:45am
Quoting billbss
I lost on them, as well as GBP/USD.
It's been a bloodbath tonight.
Hi Bill, just to be sure about your gbp trade you lost, do you talk about last night because the last possible trade setup i saw on my FXDD chart was only last friday and we are not suppose to trade this day ! Thanks

Luk
  • #225
  • Jul 21, 2009 9:52am Jul 21, 2009 9:52am
Quoting PipsRider
Hi Bill, just to be sure about your gbp trade you lost, do you talk about last night because the last possible trade setup i saw on my FXDD chart was only last friday and we are not suppose to trade this day ! Thanks

Luk
I know I entered the GBPUSD trade on a retracement last night but it does look like the original signal came on Sunday, therefore it would be no trade. I think
  • #226
  • Jul 21, 2009 9:54am Jul 21, 2009 9:54am
Quoting PipsRider
Hi Bill, just to be sure about your gbp trade you lost, do you talk about last night because the last possible trade setup i saw on my FXDD chart was only last friday and we are not suppose to trade this day ! Thanks

Luk
There was a long GBP/USD trade, yesterday, on the FXDD 16:00 4H candle.

The 8:00 candle had been too long.
The 16:00 candle had retraced and then broke the H of the 800 candle.

The white arrow shows the candle I entered on.

The trade got stopped out last night.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 39 KB
  • #227
  • Jul 21, 2009 9:54am Jul 21, 2009 9:54am
Quoting PipsRider
Hi Bill, just to be sure about your gbp trade you lost, do you talk about last night because the last possible trade setup i saw on my FXDD chart was only last friday and we are not suppose to trade this day ! Thanks

Luk
Sorry Bill i forget about to mention a winner setup on gbpusd monday, it was a long trade but i dont see other setup since !

Luk
  • #228
  • Jul 21, 2009 9:57am Jul 21, 2009 9:57am
Quoting PipsRider
Sorry Bill i forget about to mention a winner setup on gbpusd monday, it was a long trade but i dont see other setup since !

Luk
I just showed it to you.
  • #229
  • Jul 21, 2009 10:00am Jul 21, 2009 10:00am
Quoting billbss
There was a long GBP/USD trade, yesterday, on the FXDD 16:00 4H candle.

The 8:00 candle had been too long.
The 16:00 candle had retraced and then broke the H of the 800 candle.

The white arrow shows the candle I entered on.

The trade got stopped out last night.
Ok i see, thanks, i mentioned this long because i had entered too early(risky trade) on the 2 colours haiken hashi signal 2 candle before the right signal ! sorry Bill

Luk
  • #230
  • Jul 21, 2009 10:06am Jul 21, 2009 10:06am
GBP/JPY is setting up for a short on FXDD.
It'll be a couple of hours before the bar completes.
  • #231
  • Jul 21, 2009 10:23am Jul 21, 2009 10:23am
Mr. Ed,

Good stuff!!
  • #232
  • Jul 21, 2009 10:29am Jul 21, 2009 10:29am
Quoting billbss
GBP/JPY is setting up for a short on FXDD.
It'll be a couple of hours before the bar completes.
I also see this set up but my 4 hour candle will close in 30mins. so far I lost 2 trades in a row. Lets see what happens with this one. It looks like a decent entry as well in technical, just above 62% fibs retracement in 4h chart. I will go for it if it closes the way it should be.
  • #233
  • Jul 21, 2009 10:33am Jul 21, 2009 10:33am
Quoting fed
I also see this set up but my 4 hour candle will close in 30mins. so far I lost 2 trades in a row. Lets see what happens with this one. It looks like a decent entry as well in technical, just above 62% fibs retracement in 4h chart. I will go for it if it closes the way it should be.
I've lost 3 in a row and am losing on a 4th (EUR/GBP).
I'll continuing taking them until I'm convinced this doesn't work.
4 losing trades can happen with any system.

With a 55% hit rate, there is a 4.1% chance of losing 4 in a row.
That is within the realm of possibility.
  • #234
  • Jul 21, 2009 10:36am Jul 21, 2009 10:36am
Quoting billbss
GBP/JPY is setting up for a short on FXDD.
It'll be a couple of hours before the bar completes.
Does the GBPUSD also appear to be setting up?
My bar is repainting a bit (bouncing blue-red) but if it drops some more in the next 90min, it might be a short.

USDJPY did drop
  • #235
  • Jul 21, 2009 10:42am Jul 21, 2009 10:42am
Quoting demons19
Does the GBPUSD also appear to be setting up?
My bar is repainting a bit (bouncing blue-red) but if it drops some more in the next 90min, it might be a short.

USDJPY did drop
Same here. It's flashing on and off.
  • #236
  • Jul 21, 2009 10:45am Jul 21, 2009 10:45am
GJ soon suffice TR 1 and trigget TRS
  • #237
  • Jul 21, 2009 10:47am Jul 21, 2009 10:47am
GJ is definitely going short. But I can't read the HA for the signal bar. I assume it's shifted to red.

EGBP was initially a smallwinner forme. I let it run and it's now in the negative (demo)

One of the advantages of having a good EA is that those who know how to backtest can do that and see what the results look like. I know there are issues with the back tester but still it will be interesting data
  • #238
  • Jul 21, 2009 10:49am Jul 21, 2009 10:49am
Quoting nubchai
GJ is definitely going short. But I can't read the HA for the signal bar. I assume it's shifted to red.

EGBP was initially a smallwinner forme. I let it run and it's now in the negative (demo)

One of the advantages of having a good EA is that those who know how to backtest can do that and see what the results look like. I know there are issues with the back tester but still it will be interesting data
This system lends itself to a visual backtest.
I trust that a lot more than I do an EA. That's just my own personal preference.
  • #239
  • Jul 21, 2009 10:51am Jul 21, 2009 10:51am
Quoting nubchai
GJ is definitely going short. But I can't read the HA for the signal bar. I assume it's shifted to red.
GJ is *this close* to exceeding 2X the ATR. It might be a retrace candidate.

***Edit***
Belay that. The signal bar has now exceeded 2X the ATR. Retrace.
You are in a maze of twisty little passages, all alike.
  • #240
  • Jul 21, 2009 10:58am Jul 21, 2009 10:58am
ok guys on the g/j no trade it is greater then 200%, got to wait for a retracement.
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