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50 pips candle system

  • #281
  • Dec 2, 2009 5:41am Dec 2, 2009 5:41am
Observing some history I found that I can improve the results with the following rule:
Assume GG so we will enter long at 1.6650. DO NOT ENTER ON THE FIRST trade trigger since usually price retraces. Enter on the second time the price crosses over 1.6650. We will probably experience this today with GPB????


P.S. I usually observe price at 15m so enter the second time a 15m bar crosses 1.6650
  • #282
  • Dec 2, 2009 5:48am Dec 2, 2009 5:48am
But actually it is confusing becose it opened a new position for me at that prise bid prise was 16647 and ask for buy order 16650 so it was enough for me to get a loosing trade. OF course it is ok That was my first trade with this system that is way I bought at that prise not just mooved my stop loss if I were started earlier.
Yes thats right I drowe it by hand. Just bloks.
  • #283
  • Dec 2, 2009 7:33am Dec 2, 2009 7:33am
Managed to long @ 1.6600, SL : 1.6500, TP: 1.6650 yesterday..after 2 consecutive G trending and TP reached. Now it seems like :

G
GR ... so, how to enter now?
  • #284
  • Dec 2, 2009 7:53am Dec 2, 2009 7:53am
G
GR .. i think next is buy order @ 1.6700 ( 2 consecutive G uptrending)..
  • #285
  • Dec 2, 2009 8:13am Dec 2, 2009 8:13am
Quoting zebulon
GG, RR, GG, RR, GG, RR.
This series will also cause a failure : yes, but this serie is unusual.
If this kind of pattern come too often, that means the box size (50 pips) is not the good one for the pair you're trading.

If i have GRG, i sell at 6500 , my TP = 6450 my SL = 6550

thats the case for my platform it is 3 spread. then wont the win always be 47pips and loss be 50pips. am i right to say that?
  • #286
  • Dec 2, 2009 8:50am Dec 2, 2009 8:50am
Quoting kostas1
Observing some history I found that I can improve the results with the following rule:
Assume GG so we will enter long at 1.6650. DO NOT ENTER ON THE FIRST trade trigger since usually price retraces. Enter on the second time the price crosses over 1.6650. We will probably experience this today with GPB????


P.S. I usually observe price at 15m so enter the second time a 15m bar crosses 1.6650
i dont get what u mean by first trade trigger? explain ur whole thing again? ahaha
  • #287
  • Dec 2, 2009 8:58am Dec 2, 2009 8:58am
Quoting Pipkeeper
G
GR .. i think next is buy order @ 1.6700 ( 2 consecutive G uptrending)..
look at this chart
Attached Image (click to enlarge)
Click to Enlarge Name: 09-12-02 15 56 59.jpg Size: 48 KB
  • #288
  • Dec 2, 2009 9:06am Dec 2, 2009 9:06am
Quoting ja5on
thats the case for my platform it is 3 spread. then wont the win always be 47pips and loss be 50pips. am i right to say that?
No, in a range, the win and the loss would be 50 pips
if i sell at 1.6600 ( bid = 1.6600 ask= 1,6603) , i will buy at 1.6550 (bid = 1.65747 ask = 1.6550) or i will buy at 1.6650 (bid = 1.6647 ask = 1.6650).

in a trend, my SL is XXX00 or XXX50, so the result will be a multiple of 50.
  • #289
  • Dec 2, 2009 9:31am Dec 2, 2009 9:31am
Quoting zebulon
No, in a range, the win and the loss would be 50 pips
if i sell at 1.6600 ( bid = 1.6600 ask= 1,6603) , i will buy at 1.6550 (bid = 1.65747 ask = 1.6550) or i will buy at 1.6650 (bid = 1.6647 ask = 1.6650).

in a trend, my SL is XXX00 or XXX50, so the result will be a multiple of 50.

Zebulon,

If you sell at 1.6600 and exit at 1.6650 you made 50 pips. But your net profit is 47 pips since you had to pay 3 pips for spread, am I correct ?

If you want to make exactly 50 pips net profit then you will exit at 1.6647, right?
  • #290
  • Dec 2, 2009 10:00am Dec 2, 2009 10:00am
Quoting maxwell-eqtn
Zebulon,

If you sell at 1.6600 and exit at 1.6650 you made 50 pips. But your net profit is 47 pips since you had to pay 3 pips for spread, am I correct ?

If you want to make exactly 50 pips net profit then you will exit at 1.6647, right?
if you made axsactly 50 pips it means you made 53 pips (3 for your broker)
  • #291
  • Dec 2, 2009 10:29am Dec 2, 2009 10:29am
Quoting Saintsurfer
if you made axsactly 50 pips it means you made 53 pips (3 for your broker)

That is what I thought Saint.

Thanks.
  • #292
  • Dec 2, 2009 10:40am Dec 2, 2009 10:40am
Quoting ja5on
i dont get what u mean by first trade trigger? explain ur whole thing again? ahaha

In blocks A, and B DON'T take trigger-1, but trigger-2.
Attached Image (click to enlarge)
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  • #293
  • Dec 2, 2009 10:47am Dec 2, 2009 10:47am
Quoting Saintsurfer
if you made axsactly 50 pips it means you made 53 pips (3 for your broker)
Yes i'm agree with you !
  • #294
  • Dec 2, 2009 10:48am Dec 2, 2009 10:48am
Quoting zebulon
No, in a range, the win and the loss would be 50 pips
if i sell at 1.6600 ( bid = 1.6600 ask= 1,6603) , i will buy at 1.6550 (bid = 1.65747 ask = 1.6550) or i will buy at 1.6650 (bid = 1.6647 ask = 1.6650).

in a trend, my SL is XXX00 or XXX50, so the result will be a multiple of 50.
sorry for being not knowledgable enough but i dont get ur bid and ask price. what is the difference between the bid and ask price? if thats the case u will enter upon the bid or ask price?

from what i see. its whenever i want to sell at 1.6600, i will sell it at 1.6603. or i want to long at 1.6600 i will long it at 1.6597. will it be the same for u?
the entry 3 pips earlier is to cover the spread. am i right to say that
  • #295
  • Dec 2, 2009 11:08am Dec 2, 2009 11:08am
Quoting kostas1
In blocks A, and B DON'T take trigger-1, but trigger-2.
What is the difference on final results?
If I know how, I tell You!! Few but Good!!
  • #296
  • Dec 2, 2009 11:11am Dec 2, 2009 11:11am
Quoting ja5on
sorry for being not knowledgable enough but i dont get ur bid and ask price. what is the difference between the bid and ask price? if thats the case u will enter upon the bid or ask price?

from what i see. its whenever i want to sell at 1.6600, i will sell it at 1.6603. or i want to long at 1.6600 i will long it at 1.6597. will it be the same for u?
the entry 3 pips earlier is to cover the spread. am i right to say that
look at this
Attached Image (click to enlarge)
Click to Enlarge Name: 09-12-02 18 09 17.jpg Size: 34 KB
  • #297
  • Dec 2, 2009 12:30pm Dec 2, 2009 12:30pm
ya if u do that.. that means ur net profit will minus away 3pips i think. since the spread is 3pips. haha. i am blur now. lol. am i wrong?

cos u put it this way. long at 1.6600 and the order will be profitable after 1.6603. so if it hits 1.6650. u will earn from 1.6603 to 1.6650 which is 47 pips.

and when the trade go against u. it went to 1.6550. u will lose from 1.6603 till 1.6650 which is 53 pips. no ?
  • #298
  • Dec 2, 2009 12:49pm Dec 2, 2009 12:49pm
Quoting LuboLabo
What is the difference on final results?
I don't have quantitative results but observe the charts and you will see that it helps save some losses. In addition, retracing at round numbers is very common in FX. I am already following the method this way and helped me get in the trade with more confidence. Otherwise, you get in with the first trigger and then it retraces in your face 30-45 pips and scares you out. But the second time it crosses the thrust is more powerful.
  • #299
  • Dec 2, 2009 12:52pm Dec 2, 2009 12:52pm
Quoting kostas1
I don't have quantitative results but observe the charts and you will see that it helps save some losses. In addition, retracing at round numbers is very common in FX. I am already following the method this way and helped me get in the trade with more confidence. Otherwise, you get in with the first trigger and then it retraces in your face 30-45 pips and scares you out. But the second time it crosses the thrust is more powerful.

But the SL is always 50 pip so it doesen't matter.....
If I know how, I tell You!! Few but Good!!
  • #300
  • Dec 2, 2009 1:17pm Dec 2, 2009 1:17pm
Quoting LuboLabo
But the SL is always 50 pip so it doesen't matter.....
LuboLabo,
You are probably right but if the retracement is more severe it may save you pips..
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