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GBPJPY Daily Trend Method

  • #321
  • Jun 9, 2010 9:07am Jun 9, 2010 9:07am
Quoting Bay
MADX-what is M standing for?
M = Michael
  • #322
  • Jun 9, 2010 9:10am Jun 9, 2010 9:10am
Quoting MichaelLee_8
M = Michael
Sounds good
  • #323
  • Jun 9, 2010 9:13am Jun 9, 2010 9:13am
Would anyone here be willing to help me out by testing some different parameters? By "parameters" I mean trade management parameters. (SL, TP, etc.)
  • #324
  • Jun 9, 2010 9:44am Jun 9, 2010 9:44am
I take that as a no....
  • #325
  • Jun 9, 2010 9:51am Jun 9, 2010 9:51am
Quoting MichaelLee_8
I take that as a no....
Michael,
the best way to do it- create EA and we can optimized it and see results for different TP, SL and time periods (like last two or three month)
  • #326
  • Jun 9, 2010 9:57am Jun 9, 2010 9:57am
Quoting Bay
Michael,
the best way to do it- create EA and we can optimized it and see results for different TP, SL and time periods (like last two or three month)
I'm not convinced that it's the best way, but it's definitely the easiest. Unfortunately, we don't have an EA yet.
  • #327
  • Jun 9, 2010 9:58am Jun 9, 2010 9:58am
hello everyboddy

I am very intresting by the nice system..

a question : are you trading the system in demo or in real ?

thank you

bourseok

ps : sorry for my bad english, i am french
  • #328
  • Jun 9, 2010 10:00am Jun 9, 2010 10:00am
Quoting bourseok
hello everyboddy

I am very intresting by the nice system..

a question : are you trading the system in demo or in real ?

thank you

bourseok

ps : sorry for my bad english, i am french

I believe we are all trading it in demo accounts. No apologies needed. Thanks for checking the system out.
  • #329
  • Jun 9, 2010 10:03am Jun 9, 2010 10:03am
i intend to trade it on mini-account in real..
what do you think about it ?
  • #330
  • Jun 9, 2010 10:06am Jun 9, 2010 10:06am
Quoting bourseok
i intend to trade it on mini-account in real..
what do you think about it ?
To be honest, I am too. I wouldn't risk more than 1% of your account balance. It's definitely up to you but just remember, this is a new system.
  • #331
  • Jun 10, 2010 2:20am Jun 10, 2010 2:20am
Hi Traders! I see divergence on GU.
Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 21 KB
  • #332
  • Jun 10, 2010 8:09am Jun 10, 2010 8:09am
Quoting Yahoo!!!
Hi Traders! I see divergence on GU.
Thanks for the chart and it looks great. However, this thread is for my GBPJPY system. Please make sure your future posts are relevant.

Thanks,
Michael
  • #333
  • Jun 10, 2010 8:13am Jun 10, 2010 8:13am
Traders,

Markets have been in wave 4 correction mode all week! I don't think the ADX is going to make the climb above 25 by 10 am.
  • #334
  • Jun 10, 2010 8:37am Jun 10, 2010 8:37am
Quoting MichaelLee_8
Traders,

Markets have been in wave 4 correction mode all week! I don't think the ADX is going to make the climb above 25 by 10 am.

ok an what about the trade ot yesterday (+52 pips for me).. ?

do you wait for the break events (100 pips) or do you close the trade or do you wait for 125 pips ?

bourseok

sorry if my questions are stupid ...
  • #335
  • Jun 10, 2010 8:48am Jun 10, 2010 8:48am
Quoting bourseok
ok an what about the trade ot yesterday (+52 pips for me).. ?

do you wait for the break events (100 pips) or do you close the trade or do you wait for 125 pips ?

bourseok

sorry if my questions are stupid ...
Never think that your questions are stupid! People will only put you down to make themselves feel better.

When the trade reaches +100 move the stop to break even. Then you wait for the market to hit your target of +125 or take you out at break even. I'm currently testing to see if we should be moving our stop to +25 after the market reaches +100. I'll let you know how it turns out.

Michael
  • #336
  • Jun 10, 2010 8:56am Jun 10, 2010 8:56am
Traders,

Looks like we have an ascending wedge and that give me a bullish bias. Thoughts or opinions anyone??

Michael
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy trend system ex.gif Size: 25 KB
  • #337
  • Jun 10, 2010 9:37am Jun 10, 2010 9:37am
rsi >50

adx =24,28 (at 10:35)

custom trend blue
line blue > line red..

wait for a long at 11:00..
  • #338
  • Jun 10, 2010 9:38am Jun 10, 2010 9:38am
Quoting bourseok
rsi >50

adx =24,28 (at 10:35)

custom trend blue
line blue > line red..

wait for a long at 11:00..
No, if the ADX is not above 25 @ 10am est there is no trade for the day.
  • #339
  • Jun 10, 2010 9:46am Jun 10, 2010 9:46am
Quoting MichaelLee_8
No, if the ADX is not above 25 @ 10am est there is no trade for the day.
ok thank you even if at 11:00 the adx is>25 but if at 10:00 is not>25 no trade..

is it a rule of your system ?
  • #340
  • Jun 10, 2010 9:48am Jun 10, 2010 9:48am
Quoting bourseok
ok thank you even if at 11:00 the adx is>25 but if at 10:00 is not>25 no trade..

is it a rule of your system ?
Yes it is. Make sure you have read page #1 carefully.
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