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GBPJPY Daily Trend Method

  • #121
  • May 17, 2010 6:20pm May 17, 2010 6:20pm
Quoting Dreamliner
That's the one that just closed; you mean you'll put an order in for the 7:00-7:30 bar?
No...I really did mean the 6:30-7:00 bar's closing price. It's the exact same as the morning trade.

Michael
  • #122
  • May 17, 2010 6:24pm May 17, 2010 6:24pm
Quoting MichaelLee_8
No...I really did mean the 6:30-7:00 bar's closing price. It's the exact same as the morning trade.

Michael
But you wrote that at about 7:15. How could you put an order in for the bar that closed at 7:00?
  • #123
  • May 17, 2010 6:27pm May 17, 2010 6:27pm
Quoting Dreamliner
But you wrote that at about 7:15. How could you put an order in for the bar that closed at 7:00?
I'm not in the trade yet. I just put a "pending buy stop" order for 133.98 with a stop at 132.93 and a take profit at 135.23
  • #124
  • May 17, 2010 6:53pm May 17, 2010 6:53pm
Hi: I just came across this method an I am a newbie, but I went back and looked at all last week and todays trade and each time there was a trade which I think there were 3 trades last week and today's trade and each trade got stopped out. Is that correct.

Thanks
Darvin
  • #125
  • May 17, 2010 7:14pm May 17, 2010 7:14pm
Quoting darvin
Hi: I just came across this method an I am a newbie, but I went back and looked at all last week and todays trade and each time there was a trade which I think there were 3 trades last week and today's trade and each trade got stopped out. Is that correct.

Thanks
Darvin
Hey Darvin,

Nice to see you here. The first two trades of the May were stopped out. The next two were winners. Today's trade was stopped out. Total May pips: -50
  • #126
  • May 17, 2010 7:14pm May 17, 2010 7:14pm
Traders,

I was just taken into the market for the 7:00pm trade.
  • #127
  • May 17, 2010 7:15pm May 17, 2010 7:15pm
Quoting MichaelLee_8
I'm not in the trade yet. I just put a "pending buy stop" order for 133.98 with a stop at 132.93 and a take profit at 135.23
Ah, now I understand what you are saying. I'm kinda dense, helps to clap out the syllables for me!
  • #128
  • May 17, 2010 7:16pm May 17, 2010 7:16pm
Quoting Dreamliner
Ah, now I understand what you are saying. I'm kinda dense, helps to clap out the syllables for me!
LoL!!
  • #129
  • May 17, 2010 8:21pm May 17, 2010 8:21pm
The 7:00PM EST trade Total May Pips= 118
  • #130
  • May 17, 2010 9:44pm May 17, 2010 9:44pm
Guys i have tried this method on the 4 hour charts with good results, no timing required, just make sure the indicators line up. SL & TP are last significant S & R.
  • #131
  • May 18, 2010 4:33am May 18, 2010 4:33am
Quoting Cosmo
Guys i have tried this method on the 4 hour charts with good results, no timing required, just make sure the indicators line up. SL & TP are last significant S & R.
Hey Cosmo,

Thanks for looking into my method. What you are proposing seems a bit different than what we are doing here. Would you mind defining "good results" for us?

Michael
  • #132
  • May 18, 2010 7:40am May 18, 2010 7:40am
Quoting MichaelLee_8
The 7:00PM EST trade Total May Pips= 118
This trade has not hit either take profit or stop loss, we are still in this trade.

Entry was at 134.02.
Low after that has been 133.11
High has been 134.82

Is this your calculation too? (Give or take a few pips)
  • #133
  • May 18, 2010 7:43am May 18, 2010 7:43am
Quoting Dreamliner
This trade has not hit either take profit or stop loss, we are still in this trade.

Entry was at 134.02.
Low after that has been 133.11
High has been 134.82

Is this your calculation too? (Give or take a few pips)
That's funny I was just about to comment. You're talking about the trade from 7pm last night correct?

I'm a little sea sick from watching the price action on that trade. We stay in the trade until the SL or TP is hit. Although, we may look to change that in the future, that's the way I back tested it.

Michael
  • #134
  • May 18, 2010 7:54am May 18, 2010 7:54am
Good morning traders! I'm currently back testing 5:00AM EST to see if it's a lucrative time to implement this method. I'm done with May, June, and July of 2009. The results aren't looking very good but I'll keep you all updated.

Watching Indiana Jones and the Temple of Doom. It's crackin me up!
  • #135
  • May 18, 2010 8:04am May 18, 2010 8:04am
Quoting MichaelLee_8
That's funny I was just about to comment. You're talking about the trade from 7pm last night correct?

I'm a little sea sick from watching the price action on that trade. We stay in the trade until the SL or TP is hit. Although, we may look to change that in the future, that's the way I back tested it.

Michael
Yes, that was the trade I am talking about. I just noticed you posted this: "The 7:00PM EST trade Total May Pips= 118"

So I was responding that this trade has not hit take profit or stop loss.
  • #136
  • May 18, 2010 8:07am May 18, 2010 8:07am
I was talking about the Total number of pips for May. Not last nights trade.
  • #137
  • May 18, 2010 8:10am May 18, 2010 8:10am
Quoting MichaelLee_8
I was talking about the Total number of pips for May. Not last nights trade.
Oh *clap* I *clap* un *clap* der *clap* stand *clap* now *clap*
  • #138
  • May 18, 2010 8:38am May 18, 2010 8:38am
Less than 30 minutes until trade time
  • #139
  • May 18, 2010 8:40am May 18, 2010 8:40am
Good morning,
It seems a trade is on its way!
  • #140
  • May 18, 2010 8:44am May 18, 2010 8:44am
Yep....It certainly seems that way.
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