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Milking The Cable Trend

  • #41
  • Oct 19, 2009 2:19am Oct 19, 2009 2:19am
Allli, what do you think of the EJ and GJ.
What you do is a reflection of you....what I do is a reflection of me.
  • #42
  • Oct 19, 2009 3:53am Oct 19, 2009 3:53am
Quoting Ezzy
Hi Allli and all

Finding this system interesting!

Alllivemind, I hope you don't mind me posting a chart and commenting on it.

First post is daily time frame. We see price approaching a nice trendline, also it has reached 50% fibs.

On the hourly price is crossing emas backwards and forwards at the moment, price may be indecisive at this stage.

I think I may wait for either a cross of emas closer to the trendline, or enter if emas cross, retrace and continue down.

Just some thoughts Allli, please comment. I'm still learning.

Cheers
Ezzy...
Thanks Ezzy,
I need to know about the big picture more. What I like to do is take every cross, but sometimes I take 1/2 my size if I have a good reason. If I take every cross, I will always have a good entry and never miss a good move.
  • #43
  • Oct 19, 2009 3:56am Oct 19, 2009 3:56am
I see what you you mean Allli, thanks for the clarification.

There are a few signals atm. Observing with interest.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #44
  • Oct 19, 2009 4:07am Oct 19, 2009 4:07am
Quoting dreamfx
Dear alllivemind,

Please do not mind for my foolish question, where do I put the milk.tpl file? I have been reading your post from start to end and I'm very much interested in following you. I like to know how to enter a trade using your system. Sorry for being pest, I have lots of FX dream but very less knowledge, I'm willing to learn!
OK, just download my template to where you can find it like desktop. Then go to program files and look for your platform. For example, I have FXDD, so program files/FXDD metatrader/templates. Just copy it in, then shut down your platform and bring it back up.
Put your cursor on the screen, right click, go to templates and look for it.
For questions like this, everyone in the future please go to:
http://www.metatrader.info/node/41
or any number of sites like it that you can find in google.
  • #45
  • Edited 4:26am Oct 19, 2009 4:11am | Edited 4:26am
Quoting Ezzy
Allli, what do you think of the EJ and GJ.
I shorted them both tonight by my system. GJ hit the first target. G/chf hit two targets, E/j is still going sideways. BTW, I really like the black and white on your awesome. How do you do that?
Also, I'm still trying to get to the deeper explanations of entries and exits. I haven't quite made it yet, so I may ignore many questions until I can get it all out there because I think many questions will be answered by that.
  • #46
  • Oct 19, 2009 4:23am Oct 19, 2009 4:23am
Quoting Ezzy
I see what you you mean Allli, thanks for the clarification.

There are a few signals atm. Observing with interest.

Ezzy
EEzy,
Go back over the last two weeks and see how the system made over 850 pips in three trades! If we "tread water" with some losers and small winners for two weeks, and then hit some runs is it worth it? So it's kind of a semi mechanical system that will catch all those moves.
Right at the moment for example, I am short from 1.6306, and we went all the way down to 6239. I took off 20% at +35, so if I'm out at BE it like making 35/20%= 7 pips profit relative to the whole position size. I like this better than putting a stop locking in +7. I have 7 pips more breathing room, and sometimes I can put back on what I've taken off. I was 67 pips up and then it bounced and I'm only up 10-15. Normally as a short term day trader I would never let that happen. But now I'm a much more relaxed hour chart trader going for moves that are 150-500 pips, sometimes more.
Does what I'm saying make any sense? Then when the run does come, and we catch the re enters, wow! When I say three trades in a row made 850 pips I'm just counting entry to exit. When we tack on the re entries there are hundreds more pips. Soon I will talk about # or pips being not nearly as relevant as % of account increase but please be patient with me, as I have 2 other businesses and a family.
  • #47
  • Oct 19, 2009 4:41am Oct 19, 2009 4:41am
Quoting alllivemind
I shorted them both tonight by my system. GJ hit the first target. G/chf hit two targets, E/j is still going sideways. BTW, I really like the black and white on your awesome. How do you do that?
Also, I'm still trying to get to the deeper explanations of entries and exits. I haven't quite made it yet, so I may ignore many questions until I can get it all out there because I think many questions will be answered by that.
Thanks Allli

The more I read from you and the more you explain, the more I understand. I will re-read your posts so the information sinks in better.

Regarding the awesome, right click on the one on your chart, click AO properties and then in the color tab change value up to white and value down to black.

Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #48
  • Oct 19, 2009 8:35am Oct 19, 2009 8:35am
Quoting alllivemind
I shorted them both tonight by my system. GJ hit the first target. G/chf hit two targets, E/j is still going sideways. BTW, I really like the black and white on your awesome. How do you do that?
Also, I'm still trying to get to the deeper explanations of entries and exits. I haven't quite made it yet, so I may ignore many questions until I can get it all out there because I think many questions will be answered by that.
I really like your simple system. I have added the Laguerre indicator with lines on .15 and .75 as a reassurance before entering a trade. If the Laguerre is dropping down from above .75 towards .15, that is a good sell indicator because it shows an overbought scenario. If it is below .15 and rising, that is a good Buy indicator because it shows an oversold scenario. I will be patient to hear about your entry and exit strategy!
  • #49
  • Edited 5:29pm Oct 19, 2009 8:54am | Edited 5:29pm
I was stopped at BE, see post #38. So now Im entering a sell stop at 1.6303 and a buy stop at 1.6351
edit #1 wow that was fast!
Buy stop filled at 6351
edit #2: hit first target @ 1.6388, +35, leary of moving stop to BE, so watching it....
edit #3: 00:45 FXDD time: Just hit my second target of +80(1.6431), and I took off 1/6 of remainder. Yes I know this is different than my rules state. I took off more and sooner purely because I felt a bit beat up this morning. As we continue up I may wish I was more patient.
The idea though is to take some profit, and try to leave at least 40-50% of original size. I try to take the last half all the way to the reverse cross, like I did on the run last week.
I will even dump half of that if I see a topping formation. Remember, when we see a pullback to the ma's we can add back in!
edit #3a: Wow! a 43 pip pullback so far. I took some off at 6431, it only went to 6434. Sometimes intuition and experience actually works!
  • #50
  • Oct 19, 2009 9:34am Oct 19, 2009 9:34am
Quoting alllivemind
I was stopped at BE, see post #38. So now Im entering a sell stop at 1.6303 and a buy stop at 1.6351
wow that was fast!
But stop filled at 6351
Do you normally place both orders when the 3 crosses the 34 to try and catch a breakout?
  • #51
  • Oct 19, 2009 9:51am Oct 19, 2009 9:51am
Hi Allive, looks like you got 40 pips or so back on the cable. Do you use all those extra ma's? They look a bit noisy on my chart.

Anyway, your system's doing well in this volatility, I still need to do some testing on it, just need to kick my daughter off the pc!

Come on the Pound!
Keep smiling
  • #52
  • Edited 10:54am Oct 19, 2009 10:26am | Edited 10:54am
FTSE and Dow Jones having a good day, good for risk appetite, market selling USD.
Keep smiling
  • #53
  • Oct 19, 2009 11:50am Oct 19, 2009 11:50am
Niec thread going alli. I dont know when to exit the trade? do i do it after some pips, or is there any signal we can use to get out of the trade when our pips profit is at the maximum

Thanks
  • #54
  • Oct 19, 2009 3:53pm Oct 19, 2009 3:53pm
Nice post very interesting
  • #55
  • Oct 19, 2009 4:07pm Oct 19, 2009 4:07pm
Quoting TheFutureAce
Nice thread going alli. I dont know when to exit the trade? do i do it after some pips, or is there any signal we can use to get out of the trade when our pips profit is at the maximum

Thanks
I also wanted to know why are you specifically using 3 and 34 ema crossover?
  • #56
  • Oct 19, 2009 4:38pm Oct 19, 2009 4:38pm
Keeping it simple Alli try using the lines on this indicator for profit targets
I have used it for a while with. I hope it helps it also confirms your 34 and 3 MA entry and above the White line only look for longs and wait until it goes below the white line to short thus double confirmation for anyone who has doubts.
Attached File(s)
File Type: ex4 [V03]ABHAFXS.ex4   9 KB | 436 downloads
  • #57
  • Oct 19, 2009 4:55pm Oct 19, 2009 4:55pm
Quoting mgs1f
Keeping it simple Alli try using the lines on this indicator for profit targets
I have used it for a while with. I hope it helps it also confirms your 34 and 3 MA entry and above the White line only look for longs and wait until it goes below the white line to short thus double confirmation for anyone who has doubts.
Thanks a lot! Are there instructions?
HEY EVERYONE: I keep updating my trade on post #49, hopefully to make it easier to follow than scattered over the thread.
  • #58
  • Oct 19, 2009 5:37pm Oct 19, 2009 5:37pm
Quoting TheFutureAce
Niec thread going alli. I dont know when to exit the trade? do i do it after some pips, or is there any signal we can use to get out of the trade when our pips profit is at the maximum

Thanks
This question has been asked a lot, so perhaps I have not been clear. Read the first post (I will rewrite it soon)_about taking off small chunks as we go. We are waiting for the 34sma to curl up to be 40 or more pips above out entry. We are wanting to retain about half of our position and exit at the reverse cross of the 3ema over the 34sma. If we see topping/bottoming formations we may take off more, looking to add it back in on a pulback to one or more of the ma's. As we progress I will be giving more and more examples of all of the above. I just dont have tons of time right at the moment. I expect some of you that are good at reading charts to help.
For example, right now we have some divergence between the current high and the one at 10/16 at 5:00 fxdd time. So i'm more inclined to take off some profit if we dont get some upside or sideways soon.
  • #59
  • Oct 19, 2009 7:08pm Oct 19, 2009 7:08pm
This is really a continuation of post #33, and I will address my money management on what I call the daytrades. If you have a question please read post #33 first. I will be looking at the two trades posted there. So here are two close ups of the first trade in post #33:

Notice in the first pictur the retrace brings us very close to our breakeven stop. I used to bail long before this! And sometimes I get hit and wish I did, but I am seeing several whit candles and odds are high it is just a bounce. I love it when a trend starts and then it comes up and kisses the 20. In this case it did not even make it to the 20, which I see as a sign of weakness,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: closeup 1 100909.gif Size: 26 KB
Click to Enlarge Name: closeup 2 100909.gif Size: 25 KB
  • #60
  • Oct 19, 2009 7:31pm Oct 19, 2009 7:31pm
Now lets go to the 5 min chart and see what happened to the part we are managing like a daytrade.
We entered on the red line at 1.5979 short.
I like to have a 20-25 pip stop at first, when up 12 pips I go to BE and trail by 18. When I hit +20, I take 1/3-1/2 off. At this point I have locked in +2 on the remainder. I split the remainder into two halves. I trail one by 15 and the other by 22. So lets say i took half at +20, the next quarter would have made 28, stopped out by that first bounce. The last quarter, once it breaks the previous low, I often put a 15 pip trailer on that one too. But even if I left the 22 trailer, I would hve made 51 pips when stopped. Also, when I'm over 50 ahead, I will be looking for S/R lines, fibs and other exit points, so I may be taking pieces off along the way.
I tend to risk more on these daytrades as they are much shorter term.
so lets average the quarters: +20(twice), +28, and +51 = average 29.75. This is why I call it "milking the trend"
If you want some homework, analyze the next retrace in post #33 and I will post my version tomorrow.
Attached Image (click to enlarge)
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