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  • #581
  • Jun 24, 2010 8:00am Jun 24, 2010 8:00am
very boring day, today....have anybody made any succesful trades so far?
  • #582
  • Edited 10:37am Jun 24, 2010 10:27am | Edited 10:37am
M30 shows indifferent candles. range is 1.2261 - 1.2340. Looking at M15/M30 and trade the ups and downs at M1.
seems to be that the market don't know where to go. political events and the shit state deficit have made people confused and disoriented.
EUR seems to be not more worth than 0.85 for me. why don't give the market player the real worth the EURO back?,...around 0.85 out there.
  • #583
  • Jun 24, 2010 10:27am Jun 24, 2010 10:27am
enter short at 1.2319 with 5 position.

TPs: 1.2262 / 1.2235 / 1.2195 / 1.2190 & 1.2155
  • #584
  • Jun 24, 2010 10:43am Jun 24, 2010 10:43am
Quoting bergax
very boring day, today....have anybody made any succesful trades so far?
This morning (european session) was very good for me
  • #585
  • Edited 6:20am Jun 25, 2010 6:09am | Edited 6:20am
Quoting Dhb
Midnight,

Hope you don't mind me asking, but where did you find the RSI alert indicator you're currently using? The best alert I have found to date is one that gives an alarm when there's either a lower RSI close above a customizable overbought level, or a higher RSI close below a certain oversold level (so when price is "hooking" back to the 50 level). As you know, that's just not good enough, since we're looking to get a warning when there's a realtime penetration of certain OB or OS levels (when using 85/15, I can imagine the alarm levels...
Hi Dhb
in one of the forums I found a programming code for such indicator and pluged it in the Meta editor and it worked. you just change the values in the code that you need for the rsi. I am not at my laptop at the moment, but once i get to it I will post you the code. might be later today. just to warn you, the alarm is really annoying. Once it reaches the specified level and goes above it ( or beneath) it does not stop ringing which drives me crazy and it stops once it gets out of the range
  • #586
  • Jun 25, 2010 8:31am Jun 25, 2010 8:31am
Sorry I haven't checked in a while. Dhb, thanks for the posts. The breakouts you speak of is why I wait for the breakouts to happen first. I won't trade in a ranging market as it is poised for a breakout. I won't get caught up in those things when they happen. Less trades, but more profitable.

Quoting Dhb
Wow, last week must have been beginners luck for me. Between yesterday and today I took 14 trades, with only 6 winners. Combine that with a R:R of less than 1 and you can imagine my demo for this strategy is now in the red.

Lots of breakouts that cost me dearly. You really need the right market conditions for this strategy. This stuff works best when the market is ranging it seems.
Life is too short to have anything but delusional notions about yourself.
  • #587
  • Jun 25, 2010 8:35am Jun 25, 2010 8:35am
You've got the hang of it. Patience for the good trades is key.

Quoting bergax
Hey,

I tried this strategy, but dont have much time now, so cannot test it for long time. I will put here some observations.

1. strategy is very good, price has to make retracement, 5 pips is reasonable TP, SL around 10. Dont like adding, it is dangerous and one loss can wipe huge part of account. Risk 1-2% per trade is key.

2. focus on trade, you need 3-5 trade daily for 5 pips to earn for living.

3. personally I try to trade less, 3-4 hour during London session.

4. I use Murrey Math 1 min chart, period 320, BB(20), EMA 200, RSI(8) and...
Life is too short to have anything but delusional notions about yourself.
  • #588
  • Jun 25, 2010 8:44am Jun 25, 2010 8:44am
Hello Hoss,

nice to see u here again do u use still yr strategy? Would u mind to put here some screenshots of yr trades? to see how master do his job. thanx
  • #589
  • Jun 25, 2010 9:09am Jun 25, 2010 9:09am
Hey there, Hoss. Nice to see you're still around.
It's not about how much you make, it's about how much you don't lose.
  • #590
  • Jun 26, 2010 12:22pm Jun 26, 2010 12:22pm
Quoting Dhb
Midnight,

Hope you don't mind me asking, but where did you find the RSI alert indicator you're currently using? The best alert I have found to date is one that gives an alarm when there's either a lower RSI close above a customizable overbought level, or a higher RSI close below a certain oversold level (so when price is "hooking" back to the 50 level). As you know, that's just not good enough, since we're looking to get a warning when there's a realtime penetration of certain OB or OS levels (when using 85/15, I can imagine the alarm levels...
Sorry Ive been away for a while, heres the indicator I use but as they say the alarm keeps firing up until it completely crossess the obos level, also these couple of days have been really slow for the system, so I am trying with a new some kind of "hybrid" if you want to call it, scalping system that its a little bit more complex cuz it uses a lot of different signals mostly to tell you not to enter the trade, but the couple few OK signals that it gives you it almost guaranteed me 5 pips profit on every trade (even with FXCM high spreads, but of course i never trade if the spread is above 3.5), but right now I developed it reviewing the signals on last week's chart, so the demo trial will go on next week, Ill post something if it works, n If it doesnt well hehehe, Ill just keep on analyzing..

Attached File(s)
File Type: mq4 RSI-Alert.mq4   3 KB | 440 downloads
  • #591
  • Jun 27, 2010 11:57am Jun 27, 2010 11:57am
Thanks for sharing the alert, Midnight! I'll check and see if it's really that annoying tomorrow.
It's not about how much you make, it's about how much you don't lose.
  • #592
  • Jun 28, 2010 1:28am Jun 28, 2010 1:28am
Thanks, hoss, sure appreciate it!
Attached Image (click to enlarge)
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  • #593
  • Jun 28, 2010 1:41am Jun 28, 2010 1:41am
Thank You, hoss!
Attached Image (click to enlarge)
Click to Enlarge Name: thankshoss2.gif Size: 56 KB
  • #594
  • Jun 28, 2010 9:34am Jun 28, 2010 9:34am
Yes, I still use it. I also play a mind trick on myself that keeps me patient. I pretend that I only need to make one profitable trade per day, and my life depends on it. It's a little extreme but it works for me. It makes me follow all my rules, and makes me wait until a nice move in one direction has made its move before I consider getting in. I can post trades, but they won't look any different than the ones I posted earlier, however.

Quoting bergax
Hello Hoss,

nice to see u here again do u use still yr strategy? Would u mind to put here some screenshots of yr trades? to see how master do his job. thanx
Life is too short to have anything but delusional notions about yourself.
  • #595
  • Jun 28, 2010 12:05pm Jun 28, 2010 12:05pm
Quoting hoss
Yes, I still use it. I also play a mind trick on myself that keeps me patient. I pretend that I only need to make one profitable trade per day, and my life depends on it. It's a little extreme but it works for me. It makes me follow all my rules, and makes me wait until a nice move in one direction has made its move before I consider getting in. I can post trades, but they won't look any different than the ones I posted earlier, however.
Interesting. Somewhere on the first pages of this thread you mentioned doing around 10-15 trades a day, and that you were aiming for 2-5% a day. Has that changed in the mean time? You're probably more picky nowadays?
It's not about how much you make, it's about how much you don't lose.
  • #596
  • Jun 28, 2010 4:22pm Jun 28, 2010 4:22pm
Yes, I got way more picky. I hate averaging in, so I forced myself to up the margin and take fewer trades.

Quoting Dhb
Interesting. Somewhere on the first pages of this thread you mentioned doing around 10-15 trades a day, and that you were aiming for 2-5% a day. Has that changed in the mean time? You're probably more picky nowadays?
Life is too short to have anything but delusional notions about yourself.
  • #597
  • Jun 29, 2010 7:38am Jun 29, 2010 7:38am
Quoting trigg
enter short at 1.2319 with 5 position.

TPs: 1.2262 / 1.2235 / 1.2195 / 1.2190 & 1.2155

4 position are running in the winning zone.

Profit: + 57 pips / + 84 pips / +124 pips / +129 pips

till now:

Profit Total: +394 pips
  • #598
  • Jun 30, 2010 2:30am Jun 30, 2010 2:30am
Quoting Midnight05
Hey there Hoss, I tryed your system for over a month now, It really works like a charm some days are better than other though, the only thing I changed is the RSI alarm levels to 85 15, and you were right you dont get a lot of signals during the day but the ones you get are really good 5 pip for sure, but usually i make anywhere from 30 pips to 70 pips a day, also i tryed the same method on 15M charts, and looking at them i found out that if you have 85 and 15 levels on RSI when you hit those you will definately have a very good long trend to trade...
hi midnight i am using tradestation myself and i have problems finding
Murray Maths indicator...can you explain in few words how you use this wicked metod for scalping on your trade station...indicators,exits ,signals...thanks in advance
  • #599
  • Jun 30, 2010 9:21am Jun 30, 2010 9:21am
Quoting speculant
hi midnight i am using tradestation myself and i have problems finding
Murray Maths indicator...can you explain in few words how you use this wicked metod for scalping on your trade station...indicators,exits ,signals...thanks in advance
Hey there, I use FXCM MT4 to read the indicators and MTS2 to enter the trades.
  • #600
  • Jun 30, 2010 9:59am Jun 30, 2010 9:59am
hi guys....is there a clear rules of this system writen somewhere...did read the whole thread 4 times and still cant put it together...can someone put it in a file...like rules,indikators,signals and all the small invisible details who are known only through testing...THANK YOU in advance
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