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Higher low, lower high system

  • #1,081
  • May 25, 2010 3:49am May 25, 2010 3:49am
I'm assuming this is the EJ setup you guys are mentioning? Managed to catch it. Passed on what looked like a nice GU trade earlier because it was too close to LO. Might have a question or two for you Vantage on that subject that I'll post once my trading day is wrapped up.
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  • #1,082
  • May 25, 2010 3:51am May 25, 2010 3:51am
Got this nice system trade shooting star after news. Stop at BE already.
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  • #1,083
  • May 25, 2010 3:54am May 25, 2010 3:54am
Quoting Auron112
I'm assuming this is the EJ setup you guys are mentioning? Managed to catch it. Passed on what looked like a nice GU trade earlier because it was too close to LO. Might have a question or two for you Vantage on that subject that I'll post once my trading day is wrapped up.
Yep thats the one I meant, very nice trade, great shooting star in the downtrend. 1hr had closed lower as did 15 min.
  • #1,084
  • May 25, 2010 3:56am May 25, 2010 3:56am
Quoting Vantage
Got this nice system trade shooting star after news. Stop at BE already.
Mrs V really not sure where we should target as exit with the general drift down already this am so we have exited bounce from D S2 for 24 and hope we get another entry.
  • #1,085
  • May 25, 2010 3:58am May 25, 2010 3:58am
Quoting Auron112
I'm assuming this is the EJ setup you guys are mentioning? Managed to catch it. Passed on what looked like a nice GU trade earlier because it was too close to LO. Might have a question or two for you Vantage on that subject that I'll post once my trading day is wrapped up.
Auron do you also have 1hr top line, 15 min middle and 8 lwma on bottom of your 5 min?
  • #1,086
  • May 25, 2010 4:03am May 25, 2010 4:03am
Quoting Vantage
Auron do you also have 1hr top line, 15 min middle and 8 lwma on bottom of your 5 min?
If it is would you mind posting a template of 5 min chart as for some reason I can't. Any template I have saved is nowhere to be found on this computer.
  • #1,087
  • May 25, 2010 4:12am May 25, 2010 4:12am
Yup. It's a nice set-up.

Quoting Vantage
Auron do you also have 1hr top line, 15 min middle and 8 lwma on bottom of your 5 min?
  • #1,088
  • May 25, 2010 4:24am May 25, 2010 4:24am
Quoting Auron112
I'm assuming this is the EJ setup you guys are mentioning? Managed to catch it. Passed on what looked like a nice GU trade earlier because it was too close to LO. Might have a question or two for you Vantage on that subject that I'll post once my trading day is wrapped up.
Another great example of 5 min lh that 'goes' when the 15 min chart turns around and has a nice shooting star (as opposed to a couple of hammers that occurred before).
  • #1,089
  • May 25, 2010 5:50am May 25, 2010 5:50am
So as mentioned earlier, I had a couple questions. First off, there was a potential trade from earlier today on GU that I missed. Even if I had seen it though, I probably would have passed since it was only 15min to London Open. What are you thoughts given the proximity to LO? It did get me thinking about what sort of rules you have around the opens in general.

I've seen you mention multiple times that you don't take trades within the first 15min of FO in most cases, but what about in the 15 or so minutes prior to the open? What about if you are up, say, 13 pips (I use this because I know you're likely to take 20 pips pre-LO) going into FO or LO. Are you most likely to take profit, move to BE, or leave things alone? I also remember you saying that Mrs. V is of the mind that Frankfurt is generally one move, so you either get the first one or likely stand aside. Do you have rules for this, as in you don't take a trade in the final 20-30 minutes of Frankies Hour?

Sorry, lots of questions but I don't expect you to go through and answer each. I'm really just trying to get a feel for your overall approach around the opens and these are the sorts of things that pop into my head. Any insight into your trading process within the 15-20 minutes before and after the opens is something I would be very interested in.

Thanks Vantage.
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  • #1,090
  • May 25, 2010 6:07am May 25, 2010 6:07am
A couple of really good ej set ups here.
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  • #1,091
  • May 25, 2010 6:24am May 25, 2010 6:24am
Quoting Auron112
So as mentioned earlier, I had a couple questions. First off, there was a potential trade from earlier today on GU that I missed. Even if I had seen it though, I probably would have passed since it was only 15min to London Open. What are you thoughts given the proximity to LO? It did get me thinking about what sort of rules you have around the opens in general.

I've seen you mention multiple times that you don't take trades within the first 15min of FO in most cases, but what about in the 15 or so minutes prior to the open? What about if you are...
FO first 15 mins we generally don't trade as that 1st move is often a fake out.

Opens in general, take care if pa is jittery or there are big spikes or if trade is literally just before LO. If its 100% system and trends are strong, candles right take the trade.

The best way to satisfy yourself is to check the charts over many LO's.

FO and general rule in FH is bank, only if trend is overly strong like now its down would I risk leaving open.

If we miss 1st move in FH we will not take a FH move in same direction, a good range for FH is 40-50 pips and can easily have reversal half way through FH. The numbers watched over many days are not good for a 2nd trade in same direction in FH. So the only trade we want to take in the final 30 mins would be a reversal or if first 30 mins were static. Don't take 2 trades in same direction in FH UNLESS you have got the chart time to satisfy yourself it works (this actually applies to these suggestions and any other forex/trading suggestions, always check out they work, you have to be happy that any system works for you).

OK back to LO if you get the right candles/set up take the trade IMHO.
  • #1,092
  • May 25, 2010 6:29am May 25, 2010 6:29am
Quoting Vantage
FO first 15 mins we generally don't trade as that 1st move is often a fake out.

Opens in general, take care if pa is jittery or there are big spikes or if trade is literally just before LO. If its 100% system and trends are strong, candles right take the trade.

The best way to satisfy yourself is to check the charts over many LO's.

FO and general rule in FH is bank, only if trend is overly strong like now its down would I risk leaving open.

If we miss 1st move in FH we will not take a FH move in same direction, a good range for...
Oh and on sessions like recently where trends 1 way we don't counter trend. We did miss a couple of buy trades last week because I was overly thinking sell only.
  • #1,093
  • May 25, 2010 6:11pm May 25, 2010 6:11pm
Quoting Vantage

OK back to LO if you get the right candles/set up take the trade IMHO.
Appreciate the detailed answer. So what would you have thought about the GU setup I posted above 15 minutes prior to LO?
  • #1,094
  • May 25, 2010 7:14pm May 25, 2010 7:14pm
Hi Vantage,

Hope all of your patients are recovering

With the other thread a bit quiet now I have been studying your trades a bit more. I would like to attach the bar indicator that you use across the bottom of your chart but unfortunately my PC won't attach Ex4 indis to my charts.

What happens is that I can save them into my experts/indicators and they will save OK but as soon as I open the MT4 program they disappear from the files. I have tried everything that anyone has suggested to fix it, FF, my broker, Metatrader, been like it ever since that buggy version of MT4 a few years ago.
Do you have the MQ4 version of the indicators, I can attach these OK.

thanks
Money grows on the tree of persistence
  • #1,095
  • May 25, 2010 8:20pm May 25, 2010 8:20pm
I have just started to trade the first 2 hours of the Tokyo session - watching EUR/JPY and AUD/USD and AUD/JPY. The AUD pairs both move in correlation, but sometimes there is a HL/LH in one and not the other. So I watch both but trade only one of them.

Anyway, here's a trade I took today on EUR/JPY. Entry was just after the TO and I exited at the RN for +20. The M60 and M15 candles were both favourable and the entry met my definition of a 100% trade. My only concern was the size of the LH candle at 20 pips.
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  • #1,096
  • May 26, 2010 12:20am May 26, 2010 12:20am
Quoting ozmacca
Hi Vantage,

Hope all of your patients are recovering

With the other thread a bit quiet now I have been studying your trades a bit more. I would like to attach the bar indicator that you use across the bottom of your chart but unfortunately my PC won't attach Ex4 indis to my charts.

What happens is that I can save them into my experts/indicators and they will save OK but as soon as I open the MT4 program they disappear from the files. I have tried everything that anyone has suggested to fix it, FF, my broker, Metatrader, been like it ever...
You save the file by "indicators" and then you don't need to open the editor. You jast go to the chart, indikators, custom and there you will find it.
  • #1,097
  • May 26, 2010 1:25am May 26, 2010 1:25am
Hi Happy,

thank you for your reply, I tried that 2 years ago, believe me, it is a LOT more complicated than that.

As I mentioned in my post I have tried my Broker, Metatrader forum and anything else people have suggested over the years without success to load a new EX4.
Money grows on the tree of persistence
  • #1,098
  • May 26, 2010 1:35am May 26, 2010 1:35am
Quoting Auron112
So as mentioned earlier, I had a couple questions. First off, there was a potential trade from earlier today on GU that I missed. Even if I had seen it though, I probably would have passed since it was only 15min to London Open. What are you thoughts given the proximity to LO? It did get me thinking about what sort of rules you have around the opens in general.

I've seen you mention multiple times that you don't take trades within the first 15min of FO in most cases, but what about in the 15 or so minutes prior to the open? What about if you are...
1hr was down, 15 min an inside bar pos close but lower vol. Great 5 min lh, nice shooting star. FH hadn't really done anything so that wasn't a worry. If I didn't take that it would prob be because of the 15 min candle and not the LO. Thats hindsight of course, always different live.
  • #1,099
  • Edited 1:53am May 26, 2010 1:38am | Edited 1:53am
Quoting ozmacca
Hi Vantage,

Hope all of your patients are recovering

With the other thread a bit quiet now I have been studying your trades a bit more. I would like to attach the bar indicator that you use across the bottom of your chart but unfortunately my PC won't attach Ex4 indis to my charts.

What happens is that I can save them into my experts/indicators and they will save OK but as soon as I open the MT4 program they disappear from the files. I have tried everything that anyone has suggested to fix it, FF, my broker, Metatrader, been like it ever...
Thanks yesterday was 1st day in a while that we were both around. My cooking skills have improved dramatically.

MT4 doing wierd things with Vista, I cannot post my saved templates. I'm hoping that Auron or someone else will (1hr top line, 15 min middle and 8 lwma on bottom). I only have the files that are in the link on 1st post. If you don't come right pls ask Royston, he's always been extremely helpful, and he made them.
  • #1,100
  • May 26, 2010 1:52am May 26, 2010 1:52am
Quoting orientos
I have just started to trade the first 2 hours of the Tokyo session - watching EUR/JPY and AUD/USD and AUD/JPY. The AUD pairs both move in correlation, but sometimes there is a HL/LH in one and not the other. So I watch both but trade only one of them.

Anyway, here's a trade I took today on EUR/JPY. Entry was just after the TO and I exited at the RN for +20. The M60 and M15 candles were both favourable and the entry met my definition of a 100% trade. My only concern was the size of the LH candle at 20 pips.
Nice trade.
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