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Trade what you see NOT what you expect

  • #32,901
  • Edited 12:51pm Mar 16, 2010 11:28am | Edited 12:51pm
Hello everyone, I hope everyone is doing well. I just wanted to say that anyone in here that is struggling with this system really needs to look at the 35ma plus 35 pip trade (at least that is what I call it). I have been in this thread every since it started and this trade has just now grabbed my attention. It is really not talked about a lot, seems we talk more about bouncing off ma's and pa but this trade is simple and it works. I have been trading it live and doing very well and I have also back tested it (which I am not a big fan of back testing because things look different after they have already happened plus they are much easier to see). For anyone that is interested this is how I play it, after the candle closes thru the 35 ma I wait for another candle to close 35 pips beyond and then I enter. I put a t/p 50 pips out. I look for exit mainly if the trade runs into a 200ma, closes on the opposite side of the 10ma, or I get a strong reversal candle. It has really worked well for me and it seems to be a trade with very little draw down on your account. Is anyone else doing this trade?
Please ask questions and share your experiences with us all!
  • #32,902
  • Mar 16, 2010 11:46am Mar 16, 2010 11:46am
Quoting bkg102665
Hello everyone, I hope everyone is doing well. I just wanted to say that anyone in here that is struggling with this system really needs to look at the 35ma plus 35 pip trade (at least that is what I call it). I have been in this thread every since it started and this trade has just now grapped my attention. I t is really not talked about a lot, seems we talk more about bouncing off ma's and pa but this trade is simple and it works. I have been trading it live and doing very well and I have also back tested it (which I am not a big fan of back testing...
Hi,

what timeframe - 5 min or 15 min?

Thanks
  • #32,903
  • Mar 16, 2010 11:57am Mar 16, 2010 11:57am
Quoting bkg102665
Hello everyone, I hope everyone is doing well. I just wanted to say that anyone in here that is struggling with this system really needs to look at the 35ma plus 35 pip trade (at least that is what I call it). I have been in this thread every since it started and this trade has just now grapped my attention. I t is really not talked about a lot, seems we talk more about bouncing off ma's and pa but this trade is simple and it works. I have been trading it live and doing very well and I have also back tested it (which I am not a big fan of back testing...
thanks bkg, really interesting. so you wait for a candle to CLOSE 35 pips beyond, not just touch? this is essentially a trending system, so i guess this would work well during london hours, and not asian hours? have you noticed any such thing?
  • #32,904
  • Mar 16, 2010 12:05pm Mar 16, 2010 12:05pm
Quoting MarkyBoy
Hi,

what timeframe - 5 min or 15 min?

Thanks
15 min
Please ask questions and share your experiences with us all!
  • #32,905
  • Mar 16, 2010 12:07pm Mar 16, 2010 12:07pm
Quoting kc0793
thanks bkg, really interesting. so you wait for a candle to CLOSE 35 pips beyond, not just touch? this is essentially a trending system, so i guess this would work well during london hours, and not asian hours? have you noticed any such thing?
I certainly like it better during London and U.S. but I have seen it work during the Asian session. I take it every time no matter what time of day it is. Now I did take it last night during Asian session on EJ and it did not work so maybe there is the answer you are looking for. It closed back across the 10ma so I got out and lost 20 I think.
Please ask questions and share your experiences with us all!
  • #32,906
  • Mar 16, 2010 12:09pm Mar 16, 2010 12:09pm
Quoting bkg102665
Hello everyone, I hope everyone is doing well. I just wanted to say that anyone in here that is struggling with this system really needs to look at the 35ma plus 35 pip trade (at least that is what I call it). I have been in this thread every since it started and this trade has just now grapped my attention. I t is really not talked about a lot, seems we talk more about bouncing off ma's and pa but this trade is simple and it works. I have been trading it live and doing very well and I have also back tested it (which I am not a big fan of back testing...
Hi BK...what kind of stop loss are you using?
  • #32,907
  • Mar 16, 2010 12:32pm Mar 16, 2010 12:32pm
Quoting bkg102665
I certainly like it better during London and U.S. but I have seen it work during the Asian session. I take it every time no matter what time of day it is. Now I did take it last night during Asian session on EJ and it did not work so maybe there is the answer you are looking for. It closed back across the 10ma so I got out and lost 20 I think.
Well, I might be wrong, but I don't think you should be using this system for other pairs like EJ. Reason being, EO has seen 35 pips to be a good number for GU based on his years of experience. You would need to come up with the corresponding magic number for other pairs, which would depend on individual volatility, trading ranges, etc. Just my 2 cents.
  • #32,908
  • Mar 16, 2010 12:36pm Mar 16, 2010 12:36pm
Quoting UgoPips
Hi BK...what kind of stop loss are you using?
That is the same question a friend of mine asked me last night and here is the answer I gave him. If I am not able to manage the trade I would put a 30 pip stop on it. I like to manage the trade and just wait for it to close on the other side of the 10ma or if I get a strong reversal candle I will take it out. From what I have seen there seems to be very little draw down on this trade....I love it. EO if I am saying something wrong here please let me know. Check it out and let me know what you guys think. It worked very well today on GU GJ and EJ but i got out -4 on EU because it closed below the 10ma. I picked up 50 each on the others though .

Saying all that if you get up 35 pips and run into a 200ma you may want to think about taking profit. If you are up in profit and see a reversal signal then get out, we still have to use a little common sense here.
Please ask questions and share your experiences with us all!
  • #32,909
  • Mar 16, 2010 12:38pm Mar 16, 2010 12:38pm
Quoting kc0793
Well, I might be wrong, but I don't think you should be using this system for other pairs like EJ. Reason being, EO has seen 35 pips to be a good number for GU based on his years of experience. You would need to come up with the corresponding magic number for other pairs, which would depend on individual volatility, trading ranges, etc. Just my 2 cents.
Everyone has a different fear factor and you may want to stick to just GU but I have been trading it on all 4 pair and it has worked well so far. I promise you it does not work everytime on any pair!!
Please ask questions and share your experiences with us all!
  • #32,910
  • Mar 16, 2010 12:42pm Mar 16, 2010 12:42pm
Quoting bkg102665
That is the same question a friend of mine asked me last night and here is the answer I gave him. If I am not able to manage the trade I would put a 30 pip stop on it. I like to manage the trade and just wait for it to close on the other side of the 10ma or if I get a strong reversal candle I will take it out. From what I have seen there seems to be very little draw down on this trade....I love it. EO if I am saying something wrong here please let me know. Check it out and let me know what you guys think. It worked very well today on GU GJ and EJ...
Thanks...I'll start watching it. By the way..did I see in an earlier post that you are from North Carolina? If so, we are practically neighbors...I'm from Hickory NC.
  • #32,911
  • Mar 16, 2010 12:43pm Mar 16, 2010 12:43pm
Quoting bkg102665
Everyone has a different fear factor and you may want to stick to just GU but I have been trading it on all 4 pair and it has worked well so far. I promise you it does not work everytime on any pair!!
I am not trying to talk anyone into anything here just wanted to share what is working for me and you better well damn believe I have been looking, reading, and trading like crazy to find something that works for me!! It works for me but that does not mean you will see it the same way so just look at it and if it works for you then great and if not then no harm done.
Please ask questions and share your experiences with us all!
  • #32,912
  • Mar 16, 2010 12:45pm Mar 16, 2010 12:45pm
Quoting bkg102665
Hello everyone, I hope everyone is doing well. I just wanted to say that anyone in here that is struggling with this system really needs to look at the 35ma plus 35 pip trade (at least that is what I call it). I have been in this thread every since it started and this trade has just now grapped my attention. I t is really not talked about a lot, seems we talk more about bouncing off ma's and pa but this trade is simple and it works. I have been trading it live and doing very well and I have also back tested it (which I am not a big fan of back testing...
Do you measure from the close of the candle that closed thru the 35MA...or the high?
  • #32,913
  • Mar 16, 2010 12:55pm Mar 16, 2010 12:55pm
Hello to all,

First time posting on FF. Excellent thread, Excellent people.

Sincere thanks to EOHater for passing on his trading secrets. Very decent of him.

bkg102665: Couldnt agree more regarding the 35MA trade. Extremely potent on all of the Major pairs (to date). FYI: I use the 5M TF to help with my exit.
  • #32,914
  • Mar 16, 2010 1:01pm Mar 16, 2010 1:01pm
BTW for anyone that just read my post and wants to try this please do not try it during the Fed statement coming out in 15 min cause who knows what might happen and I do not want you to start off on the wrong foot with this !!!!!!!!!!!
Please ask questions and share your experiences with us all!
  • #32,915
  • Mar 16, 2010 1:14pm Mar 16, 2010 1:14pm
Hey BKG,

Can I just ask for some clarification.

You wait for it to cross the 35, then watch it pull back and then wait for another candle to close 35 pips beyond the first to break the MA.

So... and this is the part I am looking for clarification on.

What you are looking for is a continuation of the intial break....ie you want it to keep heading in the direction that it first broke the MA?

*Big Ask Time* - is there anyway you can post a chart showing this?

I have been reading the manual all day at work and my brain is frazzled about these 35/50 using 35 pips etc etc.... to many damn 35's ...... I am sure I wont be saying that when they start working for me.

Regards

Lee
  • #32,916
  • Mar 16, 2010 1:23pm Mar 16, 2010 1:23pm
Quoting leemonk
Hey BKG,

Can I just ask for some clarification.

*Big Ask Time* - is there anyway you can post a chart showing this?

Lee
Beat me too it Lee,any chance of putting some arrows to the candles your talking about bkg,please,as I'm not getting it either.cheers.
  • #32,917
  • Mar 16, 2010 1:27pm Mar 16, 2010 1:27pm
Quoting leemonk
Hey BKG,

Can I just ask for some clarification.

You wait for it to cross the 35, then watch it pull back and then wait for another candle to close 35 pips beyond the first to break the MA.

So... and this is the part I am looking for clarification on.

What you are looking for is a continuation of the intial break....ie you want it to keep heading in the direction that it first broke the MA?

*Big Ask Time* - is there anyway you can post a chart showing this?

I have been reading the manual all day at work and my brain is frazzled about...
I am not very good posting charts but I will try to get you a few examples coming
Please ask questions and share your experiences with us all!
  • #32,918
  • Mar 16, 2010 1:41pm Mar 16, 2010 1:41pm
Quoting Deputy Dawg
Beat me too it Lee,any chance of putting some arrows to the candles your talking about bkg,please,as I'm not getting it either.cheers.
The bottom circled candle is the candle that crossed through the 35ma, moving up the next circle represents where I entered.The 200ma was staring me in the face so I did not enter until we broke the high of the candles that could not close above the 200ma. the next cirle is where I got out with exactly 50 pips. The circle on the red candle is where I would have exited the trade had I not got taken out at my t/p.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 15 35 35.gif Size: 19 KB
Please ask questions and share your experiences with us all!
  • #32,919
  • Mar 16, 2010 1:54pm Mar 16, 2010 1:54pm
Quoting bkg102665
The bottom circled candle is the candle that crossed through the 35ma, moving up the next circle represents where I entered.The 200ma was staring me in the face so I did not enter until we broke the high of the candles that could not close above the 200ma. the next cirle is where I got out with exactly 50 pips. The circle on the red candle is where I would have exited the trade had I not got taken out at my t/p.
Thanks for that bkg,good chart and explanation.will try and look for that in future.
  • #32,920
  • Mar 16, 2010 1:58pm Mar 16, 2010 1:58pm
Quoting Deputy Dawg
Thanks for that bkg,good chart and explanation.will try and look for that in future.
Not a problem at all, I am very glad to be able to help. I want to make this work for me and I want it to work for everyone in here as well!!!
Please ask questions and share your experiences with us all!
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