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Milking The Cable Trend

  • #61
  • Edited 1:22am Oct 20, 2009 1:09am | Edited 1:22am
Hey all, I have posted that I have only gone back 6 months. Well I just for grins went back to last october and look what I found! I'll post the charts below.
Oct 8-14th of 08 the system made over 1000 pips just on the A side.
Then on Oct 28th another trade opened and made 1000 pips in 3 days. As long as GU makes runs, I make pips!
Do you see why I dont mind a few 40 pip losers? And while 1000 pip runs are not happening every month, 200-600 pip runs are happening several times per month.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 100808 milk gu.gif Size: 37 KB
Click to Enlarge Name: 102808 milk gu.gif Size: 33 KB
  • #62
  • Oct 20, 2009 2:47pm Oct 20, 2009 2:47pm
Hello alllivemind
If it is possible, generate accurate rules.
Thanks
  • #63
  • Oct 20, 2009 3:16pm Oct 20, 2009 3:16pm
Waiting for part B!
Holding my candle high up, my mentor lit it up once!!
  • #64
  • Oct 20, 2009 3:49pm Oct 20, 2009 3:49pm
I think this thread will be a sucess if you take few minutes and try to answer all queries. Once the queries are answered people will try it out and work to make it better

just my 2 cents
  • #65
  • Oct 20, 2009 4:16pm Oct 20, 2009 4:16pm
Quoting dreamfx
Waiting for part B!
Part B is explained in post #33, with more details in post #59 and #60
  • #66
  • Oct 20, 2009 8:35pm Oct 20, 2009 8:35pm
Quoting maihua
Hello alllivemind
If it is possible, generate accurate rules.
Thanks
Hmm,
For me the basic rules are clearly posted in Post #1
But I must be doing something wrong, as more than one of you keeps asking.
So:
1. Load my template on to an hour chart.
2. When the gold 3ema crosses the black 34 sma on a completed candle, enter on the open of the next candle in the direction of the cross.
Example: If the 3ema is above the 34sma and crosses down through it, go short.
Take small profits along the way, and try to retain at least 40-50% of your position. At the next 3/34 cross, exit the trade and go the other way.
Use a 40 pip stop. Sometimes I feel I need a 50 pip stop.
Here are two profit taking levels I use, depending on how volitile I think the market is going to go:
1) Take off 25% at +35, then 10% of Remaining position at 100, 150, 200, 250 ect, until you get down to half of your original position.
2) Take off 25% at +35, then 10% of Remaining position at 80, 120, 160, 200 ect.
There are some other tweaks I use and rules for long candles that I have been discussing but tell me if you understand this much first.
Michael
  • #67
  • Oct 21, 2009 12:26am Oct 21, 2009 12:26am
Here's a good one for you! I just entered this one about 90 mins ago. See that doji I circled? When these happen near the 34sma, and when the next candle reverses the direction of the 3ema, and we have a nice long wick, then this is one of my favorite entries. I had a buy stop waiting 3 pips plus spread over the completed doji. I have been up as much as 53, took 25% off at +35. I also did the daytrade strategy I have outlined in this thread and did quite well.
Do any of you see anything unusual about this Metatrader chart? Look closely, I just wanna see who's paying attention......
Attached Image (click to enlarge)
Click to Enlarge Name: doji entry 102109.gif Size: 21 KB
  • #68
  • Oct 21, 2009 1:13am Oct 21, 2009 1:13am
Quoting alllivemind
Do any of you see anything unusual about this Metatrader chart? Look closely, I just wanna see who's paying attention......
UMMM.... It has 16 candles in a day (90 min chart) but would it not be better to say nothing to see who is really paying attention?
  • #69
  • Oct 21, 2009 2:13am Oct 21, 2009 2:13am
Quoting bob_inabottle
UMMM.... It has 16 candles in a day (90 min chart) but would it not be better to say nothing to see who is really paying attention?
Haha,
You got it Bob. Sometimes the hour chart is too choppy and confusing, and I like to go to the 90 min, which is very often more clear. No matter what rules you post, you can do better by watching price action. Since my last post, the market has gone quite a bit my way
  • #70
  • Oct 21, 2009 7:04am Oct 21, 2009 7:04am
Looks like 3 of your ma's are missing as well, or are they just out of shot? Also you are missing a picture of a beautiful naked woman, or is she just out of shot?
Keep smiling
  • #71
  • Oct 21, 2009 3:11pm Oct 21, 2009 3:11pm
Quoting alllivemind
Haha,
You got it Bob. Sometimes the hour chart is too choppy and confusing, and I like to go to the 90 min, which is very often more clear. No matter what rules you post, you can do better by watching price action. Since my last post, the market has gone quite a bit my way
How did you get a 90min chart on MT?
  • #72
  • Oct 22, 2009 12:00am Oct 22, 2009 12:00am
Quoting alllivemind
Do any of you see anything unusual about this Metatrader chart? Look closely, I just wanna see who's paying attention......
TF doesn't really matter, if it is 60 or 90 min.

However, before this entry, approximately 5 or 6 bars, there is a 3ema crossing 34ema, why not enter then?

Thanks.
  • #73
  • Edited 1:05am Oct 22, 2009 12:53am | Edited 1:05am
hello Alllivemind, could you please continue with your system explanation. Find it really interesting. do you apply the same rules to other parities?
  • #74
  • Edited 4:01am Oct 22, 2009 1:32am | Edited 4:01am
Quoting charvo
TF doesn't really matter, if it is 60 or 90 min.

However, before this entry, approximately 5 or 6 bars, there is a 3ema crossing 34ema, why not enter then?

Thanks.
Good question Charvo, I wish I had, I would have made even more. My max was over 220 pips and I took off a bit more than half along the way. The answer is that I want to follow my hour system. But the 90 min just gave a great entry signal. It took a while for the 3ema to cross after the 90 min entry, so I did get in a bit earlier. I don't do that very often but it was a perfect entry candle in my book.
  • #75
  • Oct 22, 2009 3:58am Oct 22, 2009 3:58am
[quote=cspip;3166590]How did you get a 90min chart on MT? [/quo

Thought you'd never ask!!
Here it is with some instructions:
Open a 4hr chart of GU and attach the period converter to it Allow DLL imports (on the COMMON TAB) Set period multiplier to 2 for an 8 hr chart or to 3 if you need a 12 hr chart. Click on "file" at the top left hand corner of MT4 Click on "open offline"
In the list of charts select the 8 hr GU and double click on it

The 8hr chart opens and you can customize and apply your indicators onto it as usual Note that the 4hr chart should be running all the time to have the 8hr chart running Sometimes on IBFX it crashes, so I just use it on FXDD, Alpari, or some other MT4 broker.

For the 90 min, start with a 30, set multiplier to 3.
Attached File(s)
File Type: mq4 Period_Converter_Opt.mq4   15 KB | 450 downloads
  • #76
  • Oct 22, 2009 7:41am Oct 22, 2009 7:41am
have you ever tried changing the 34 SMA to a 34 EMA, for the entry signals?
  • #77
  • Oct 22, 2009 10:23am Oct 22, 2009 10:23am
new to this but have been following thread and entered gbp/usd cross this morning and got stopped out at 40 sl. does anyone have any comments to add in respect of this?

Keith.
  • #78
  • Edited 12:18pm Oct 22, 2009 11:48am | Edited 12:18pm
Quoting keithbridges
new to this but have been following thread and entered gbp/usd cross this morning and got stopped out at 40 sl. does anyone have any comments to add in respect of this?

Keith.
Keith,
If you are talking about the short, yes I did exactly the same.
We have to manage our money so that a few losers dont take us financially or emotionally out of the game. Eventually there will be a long run of hundreds of pips. As a beginner, I would risk 1/2% of your account or less on each trade. When you are more confident, go for more. I use 1%. On the run starting 10/13 I made over 6% in my account risking 1% on the trade! Check it out....
As for the long that is forming:
Jeywhistle, I think we should research your idea! We would be long already. Because of the steep slope of the 34 sma, we have not crossed up on a closed candle yet. It may happen here on this hour. Time will tell if this is a good thing or not, but I will look into it as I'm a bit frustrated by todays action.
  • #79
  • Edited 2:46pm Oct 22, 2009 12:00pm | Edited 2:46pm
ps on the long trade. I entered some at 1.6606, as it broke the last candles high.. We are currently 25 from the pips from the 34 and less than 40 pips from the last high. In other words, we have to exceed the previous high to take a small profit and BE. I would set first target for 35 or 40 because of this.
edit: we finanally have a completed cross. The new candle opened at 1.6607, so with 4 pips spread you would be in at 1.6612. I have a reversal stop at 1.6564, under the low of the last candle. If yu are not in yet, you may want to hope for a retrace, so that stop is only 40, and enter at 1.6604 or less.
edit #2: We had a retrace that gave the opportunity to enter lower. Now we will we if it's a good thing. I will be going over MM later, but basically we often make 2.5-6% on a trade, so if I lose 1%, sometimes 3 times in a row, I know I will make it back and more. I am leary of this trade, but following my rules. If you are new you may want to stay out or use small size. The previous high is 1.6636; my first target is 1.6639, where I will take off only 20%
  • #80
  • Oct 22, 2009 5:40pm Oct 22, 2009 5:40pm
I was checking the behaviour of the 34 SMA and 34 EMA, sometimes one gives a better signal sometimes the other one gives a better signal, so my conclusion is go with both and take the first break, even though a lot of times is actually on the same bar. That's my perception so far, let me know what you all think about it.
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