DislikedWhatever happened to it , it is killing my a/c right now!!! I've caught a tiger by the tail!!!!Ignored
Pairs of Currency Pairs 4 replies
Trending Pairs / Ranging Pairs 0 replies
Robot trading 120 replies
I have always said that trading on M1 or M5 is not an option. However, i have been noticing something which may appeal to manual traders here and possibly may be incorporated into the robots.
The setup is as follows:
- GBPJPY M15 chart.
- Put a M5 200 SMA on the chart. (using the attached MTF MA)
- Buy if Bid > M5 200 SMA + 0.200
- Sell if Bid < M5 200 SMA - 0.200
Still use the original BOJ method whereby the indicator is telling you OB or OS areas. Basically, we are still trading the M15 TF but the SMA 200 on M5 TF becomes...Ignored
DislikedI am not running a scooby EA yet - not sure I am ready. However, I am running KG Relative Strength EA (by Steve) and in the last 2 hours, the Yen has kicked butt! The last 2 candles on GJ chart H1 - have dropped like a stone. Did scooby reflect this move or did you guys get something else?
DislikedIt means that I saw a picture fo you holding a tiger by the tail..
I also saw that yen pairs are always fundamentally charged You can never rely 100 % on technicals with yen. This is just a warm up before the carry trade kicks in though. So get ready for reversals at lower levels.Ignored
DislikedI think ottrix is right when the index is in 90 92 it is overbought for the YEN only and not for xxx/jpy, so we have to sell the YEN and to do that we buy the xxx/jpy. I hope I am making sense.Ignored
DislikedI just hope the reversal comes b4 my a/c is dead! If only BOJ comes out with a vengeance within next 5 minutes can save my butt!Ignored
DislikedSorry to contradict
The OB/OS is the average of the RSI of the 5 JPY pairs.
As you can see where the arrows are it is definitely not overbought these 2 days. So in the 80/90 area it is oversold.
And then I have to send a sell basket as this is the same then buying the yen...
DislikedIf we look in the proper EA then we see these variables and values :
extern double LowerTfOverBought=90;
extern double HigherTfOverBought=80;
extern double LowerTfOverSold=10;
extern double HigherTfOverSold=20;
So for me the 80/90 area means overbought and not oversold.Ignored
DislikedWell it was a good run with yen while it was ranging, now the market is trending down and I wonder if this method can deal with it? I know KG v3 is getting murdered at the moment... I had to manually hedge myself lets hope yen gives back a little since my jpy buy basket was opened at 149 level! LOL i knowIgnored
DislikedWell, here is the version with the inverted logic as requested.
I'm still not convinced that it has to be like this... but what do I know...Ignored
DislikedMy Kg opened a basket of weak Jpy 2 days ago. Only 4 trades but those 4 trades are down by $1200 on a micro a/c. Imagine that.Ignored