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Higher low, lower high system

  • #681
  • Mar 31, 2010 5:38am Mar 31, 2010 5:38am
Quoting Vantage
Ultimately I'm looking for big boys that are short gu to kick in. So I'm looking for test of lows around 4800. I just don't know if/when we're getting there.


Ooops I moved stop to just above 5150, just hanging in.

I certainly don't want to give impression that it'll go there from here, I'd never hang in that long.
  • #682
  • Mar 31, 2010 5:58am Mar 31, 2010 5:58am
Quoting Vantage
Ultimately I'm looking for big boys that are short gu to kick in, see COT thread. So I'm looking for test of lows around 4800. I just don't know if/when we're getting there.


Ooops I moved stop to just above 5150, just hanging in.
Out now, still positive for day but nowhere near as much as it should have been. Didn't get anywhere near as much from gu move up as was available.

Time for some lunch.
  • #683
  • Mar 31, 2010 8:19pm Mar 31, 2010 8:19pm
Vantage,

I am having trouble figuring out the settings for the pivot point indicators. Would you mind sharing the indicator you are currently using and also the settings for time offsets? Also what time zone your MT4 is feeding in. Thanks appreciate it .. of course when you have the time.
  • #684
  • Apr 1, 2010 12:23am Apr 1, 2010 12:23am
Both indi's are in 1st post.

I use pivot points multitimeframe for weekly and monthly.

The pivots indi is used for daily pivots, mid pivots, open (prev days) high low and fibs.

I use midnight fxpro time, attached is a 1hr chart, you need to adjust the local time zone by changing the value either + or - to get your start time lined up with this same 1hr candle. My setting is local time zone -6 and dest time zone 0. Yours will differ if platform has diff start time.
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  • #685
  • Apr 1, 2010 3:45am Apr 1, 2010 3:45am
Hi Vantage,

I am following this thread on the background. Really good job on your trading!! and thanks for sharing this information with us!

Are you using FXPro as your broker? How are you finding them? Are you happy with execution, slippage, spreads, etc?

I've used them in the last few months, and some of my stopped out trades were a bit fishy. Price went up to the stop loss level (or a couple of pips further) right before reversing. I'm considering whether to stay with them or move on to another broker, that's why I am asking for your input as well...

Too bad I need Metatrader (I do a lot of my trading from my Windows Mobile phone, due to work), or else I'd be using Oanda exclusively.

Thanks,

Loukas
  • #686
  • Apr 1, 2010 3:51am Apr 1, 2010 3:51am
Quoting 4xtradercy
Hi Vantage,

I am following this thread on the background. Really good job on your trading!! and thanks for sharing this information with us!

Are you using FXPro as your broker? How are you finding them? Are you happy with execution, slippage, spreads, etc?

I've used them in the last few months, and some of my stopped out trades were a bit fishy. Price went up to the stop loss level (or a couple of pips further) right before reversing. I'm considering whether to stay with them or move on to another broker, that's why I am asking for your input...
I have very few problems with fxpro (I do use 1 other), Spreads are good even during news time. Better than most even during quiet times.

I trade mostly on market orders with a 2 full pip (20 on 5 digit broker) max deviation, which gets me in on most trades. Of course there are some I miss in quick moving market.

Best broker I've used in ages.
  • #687
  • Apr 2, 2010 2:22am Apr 2, 2010 2:22am
I have for some time been looking at methods to get better results from good entries. I've also been looking at ideas to take advantage of the simple fact that currencies often simply follow the previous days close.

Malcolm from vsa thread dropped an idea that put my thoughts into perspective and cleared a few cobwebs, thanks Malcolm.

A possible solution. I have added a work in progress trading idea using the basis of the thread, hl's and lh's, to scale into moves. Keeping risk at 1.5% the results can be stunning. Will this work every day, of course not, when it does the results will be very good.

Well time will tell, have a look at the addition under 2 April 2010 in 1st post. Thats the basis of the idea.

I have taken 15 min chart with volume, see below. All other indi's etc have been taken off. The exception being the pivots indi, all I'm using there is the pivot indi using the show high low open option. It'll be clear where we stand ie buying off 5 min hl's above days open. Selling lh's off 5 min below days open. Scaling in when above DO when Y was a + close, scaling in when below DO when Y was a - close.
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  • #688
  • Apr 2, 2010 2:27am Apr 2, 2010 2:27am
Quoting Vantage
I have for some time been looking at methods to get better results from good entries. I've also been looking at ideas to take advantage of the simple fact that currencies often simply follow the previous days close.

Malcolm from vsa thread dropped an idea that put my thoughts into perspective and cleared a few cobwebs, thanks Malcolm.

A possible solution. I have added a work in progress trading idea using the basis of the thread, hl's and lh's, to scale into moves. Keeping risk at 1.5% the results can be stunning. Will this work every day,...
You can still sell a lh below DO when Y was a + close, I'm just saying for now don't scale in. Same with buying a hl above DO when Y was a - close, don't scale in.
  • #689
  • Apr 2, 2010 4:15am Apr 2, 2010 4:15am
Morning Vantage
Volume non existent this morning. I'll be interested to see what happens on NFP.
Interesting to see you wrestling with this problem of how to squeeze more pips out of a trade. The DIBS thread used a variation of this idea, by only taking trades long when above the Daily Open, and short below. However, in that case, they defined the Daily Open as the London Open, with the rationale being that was when the institutional players came into the market. In other words, if there was a change in perception of price leading to a trend, that was when it would manifest itself. All of these strategies are looking for the long tail effect, ie your hit rate goes down a lot, but when you win, you win big. Psychologically hard to do, but OK if you can compartmentalize the 2 strategies. Your left hand plays the hit and run strat for the daily bread, while the right hand tries out the new strategy. Or maybe Mrs V runs one while you run the other, lol...
  • #690
  • Apr 2, 2010 4:25am Apr 2, 2010 4:25am
Quoting Royston
Morning Vantage
Volume non existent this morning. I'll be interested to see what happens on NFP.
Interesting to see you wrestling with this problem of how to squeeze more pips out of a trade. The DIBS thread used a variation of this idea, by only taking trades long when above the Daily Open, and short below. However, in that case, they defined the Daily Open as the London Open, with the rationale being that was when the institutional players came into the market. In other words, if there was a change in perception of price leading to a trend, that...
just got back from shops and watching some rugby in a sec. Yes I do accept that there will be some missed trades. The above set up is to take advantage of the 125 pip gu range that I have long since used. Also its only on certain trades. Like the 1st hl in a move is best one to get into the 1st turn on daily and moves from there are the best.

So on first pos day after neg move will be looking to scale in above DO, if that fails and neg day continues trend will then be looking to scale in.

Finally we KNOW that gu is going to do a certain number of pips the risk is getting in outright wrong move or trading London and it moves in US session. There WILL be days where this works perfectly, there'll also be days of normal hl/lh 20 odd pip trades as its not complying with rules for scaling in.

Coffee and muffins just delivered, see you most likely Tues, cheers.

Oh another way of looking at it, 1 need 2 good scaling in trades a month to equal current general trading. Anything more is an absolute bonus, as mentioned there'll still be the smaller trades here and there.
  • #691
  • Apr 4, 2010 4:22am Apr 4, 2010 4:22am
Computer has bombed, got out back up but have to download everything from scratch. Should have done that back up a lot earlier.
  • #692
  • Apr 4, 2010 4:46am Apr 4, 2010 4:46am
Wow - sorry to hear that. You had better keep Mrs. V away from the computer in future! Cheers.
  • #693
  • Apr 4, 2010 5:35am Apr 4, 2010 5:35am
Quoting Vantage
Computer has bombed, got out back up but have to download everything from scratch. Should have done that back up a lot earlier.
Is the PC dead and without power? If you can access the hard disk, you could still get all your current MT4 files off it. PM me if you want instructions..
  • #694
  • Apr 4, 2010 6:24am Apr 4, 2010 6:24am
Quoting Vantage
Computer has bombed, got out back up but have to download everything from scratch. Should have done that back up a lot earlier.

If you got a spear computer, just connect your hard drive to backup your data from it. i use online backup facility from time to time.


_____________________

my FXSTAT results
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  • #695
  • Apr 5, 2010 1:14am Apr 5, 2010 1:14am
I know, I shouldn't be trading today, with so many bank holidays. But took a short just before what should be FO as 60M showed strong downward bias, and 15M had turned short and was not contra to the 5M LH. Out +21. Thanks V. and hope your computer is up and running.
  • #696
  • Edited 3:53am Apr 5, 2010 3:33am | Edited 3:53am
Thanks guys I've passed on computer suggests to my on call techie (big brother to the rescue).

Nice trade O, I hadn't opened up charts even but this looks like one you took. 5 min below I'll post 15 min in a sec.
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  • #697
  • Apr 5, 2010 3:38am Apr 5, 2010 3:38am
Fri had a big neg close, gapped up on Asian open. 15 min attached shows trade on a neg day below the days open. 15 min neg cose, perfect lh on 5 min, nice trade O.
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  • #698
  • Apr 5, 2010 3:52am Apr 5, 2010 3:52am
I have attached a running days high low indi that brings prev days high and low to today. Now if anyone can add todays open onto this with perhaps a different colour and keep it on previous charts that'll help a lot in backtesting.

So each day would have todays open and prev days high/low on. That'll give clear idea on new method I was looking at.
Attached File(s)
File Type: mq4 dayHL.mq4   3 KB | 529 downloads
  • #699
  • Apr 5, 2010 3:56am Apr 5, 2010 3:56am
Prev days high low on 1 hr, addition of days open will help a lot, I think.
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  • #700
  • Edited 5:56am Apr 5, 2010 5:08am | Edited 5:56am
Not convinced about the logic of using 22:00 GMT as the day's Open (ie midnight in Cyprus), but as price moves very little (usually...) between those 2 hours during the Asian range, it should be good enough for rock 'n roll. Besides which, putting a time shift into the calculations is beyond my programming until I move up to the next level, so it will have to do ......
Attached File(s)
File Type: mq4 dayHL with Open.mq4   3 KB | 499 downloads
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