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  • #13,101
  • Jul 20, 2010 10:08am Jul 20, 2010 10:08am
Quoting strat
Try three positions.
Thanks Strat! I will TP first 3rd of the position at the first SR level and keep trailing the remaining.

Quoting strat
I have come to realise that no matter what, a TP on the 1st position at ADR, works wonders in keeping the Little People happy so that is what I am doing from now on.
You mean ATR? TP 1st part at 1 ATR?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #13,102
  • Jul 20, 2010 10:18am Jul 20, 2010 10:18am
Quoting Money Magnet
I have a friend who trades manually and uses a Trade management EA which she got for free only to manage the trade for her, all entires are based on her input.

This is what I think Soso is thinking about.
Hey mate,

Mainly yes, that's what I am thinking about, although it is not a usual trade management EA. This is what I want to accomplish (already started to code it): there are 2 parts that the manager will do.

1) After I manually decide that the current bar is the setup bar then I activate the manager that will calculate the lot size and place a stop order above the setup bar with sl below (considering long setup)

2) After trade is initiated the manager will manage the trade according to a set of human readable instructions like "tp1 at atr 1, tp2 at 1.2995, tp3 trail behind atr 2".

So it is not at all an EA, all setup & management analysis will be done by the computer between my ears, is is more like a tool to do what I tell it to do, especially when I am not at the computer - my bars start at 00:00 and I usually sleep.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #13,103
  • Jul 20, 2010 10:21am Jul 20, 2010 10:21am
Quoting strat
Have you heard the saying:

Putting the cat among the pigeons?

This is what I do best.
Yep I should have known that - lol
  • #13,104
  • Jul 20, 2010 11:56am Jul 20, 2010 11:56am
Quoting strat
Whatever you do, don't miss the GBPCAD Big Boss hanging man.

Sorry Strat but that doesn't mean anything to me, also have 9 days of trading left yet in the month as well and it looks like a bond hanging man. But I am only looking for SS's and Hammers for the next while or so.
  • #13,105
  • Jul 20, 2010 8:04pm Jul 20, 2010 8:04pm
Quoting soso
Thanks Strat! I will TP first 3rd of the position at the first SR level and keep trailing the remaining.



You mean ATR? TP 1st part at 1 ATR?
ADR = Average Daily Range

Trade 3 positions:

Position 1 - TP at ADR

Position 2 - TP at PASR or SR

Position 3 - Trail behind swing low/high

Positions 2 & 3 are brought to BE when Position 1 is closed
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,106
  • Edited 8:21pm Jul 20, 2010 8:16pm | Edited 8:21pm
Soso and MoneyMagnet,

What will happen to your accounts during a power outage, loss of IP, software malfunction etc when using electronic trade management?

OK, so I am a CONTROL freak and I don't trust ANYONE (including brokers) with my money and accounts. I must have 100% CONTROL and RESPONSIBILITY over everything. Not having 100% CONTROL would cause me grief and stress and I would never sleep at night by worrying over them.

I would rather miss a trade than have a mickey mouse software program enter it, manage it and close it.

You can read many horror stories here on FF about EAs and robots
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,107
  • Jul 20, 2010 8:49pm Jul 20, 2010 8:49pm
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd test.gif Size: 56 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,108
  • Edited 9:14pm Jul 20, 2010 9:08pm | Edited 9:14pm
The safest way is to wait for PA at the major R, not sure about the R:R on trading the hammer{doesn't look like a hammer on my data}. The Worker is making HH's and HL's though.



Poncho.
" I can read the left side of the chart, the right side's a Bitch!
  • #13,109
  • Jul 20, 2010 9:49pm Jul 20, 2010 9:49pm
Strat, thanks for the explanation of the trend determination. It did help clear things up for me. And I'll be watching the "strat shadow" too.

About what action to take on the GBPUSD right now, I will wait for either a break below last week's candle that would indicate a confirmed swing high, then look to go short - or wait for a close above resistance at 1.5525 that would indicate the immediate trend continuation, then look for a long entry.

BTW, did you start using the 50 ema instead of sma?
  • #13,110
  • Jul 20, 2010 10:02pm Jul 20, 2010 10:02pm
I will take the trade (go long above the hammer).
There is just enough room above the hammer (140 pips) for a 1:1 risk reward ratio.
About 140 pips seems to be the average daily range for this pair.
As the hammer has an upper shadow, it will take substantial upward momentum for the trade to be triggered.

BTW, what is "Strat Shadow"?
  • #13,111
  • Jul 20, 2010 11:29pm Jul 20, 2010 11:29pm
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
Hi Strat,
I am a newbie and have been following this thread for some time ( not enough to get good at it yet :-), I guess I will always be learning :-) ). But thread makes sense and very much aligned with my psychology.

If BOSS says sell, I will wait for selling opportunity on daily.Looking at the 2 daily candles, price was rejected at 1.5471. I will wait for 20MA to cross 50MA back on daily and sell then.
I may not be right but would love to hear feedback and improve my thought process.

cheers
  • #13,112
  • Jul 20, 2010 11:51pm Jul 20, 2010 11:51pm
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
I wouldn't go long into that resistance. I am looking for shorts on a retest...
  • #13,113
  • Jul 21, 2010 12:06am Jul 21, 2010 12:06am
Drop 15 yards and punt. And look elsewhere, but keep an eye on this to see how it pans out.
I wouldn't feel comfortable risking 160 pips on a long when it isn't clear enough for me, even tho the worker is putting in HH's and HL's, the BOSS isn't.

But if one were inclined to feel the risk acceptable, I believe it would be an ATM trade. Take The Money and Run! Steve Miller Band 1976

Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
  • #13,114
  • Jul 21, 2010 12:38am Jul 21, 2010 12:38am
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
I would wait for price to have a strong close above R, then wait for PA on the pull back to support for long entry.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-07-20-10.gif Size: 14 KB
  • #13,115
  • Jul 21, 2010 1:13am Jul 21, 2010 1:13am
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
For the reasons I mentioned earlier I would sell GBPCAD-
  • #13,116
  • Jul 21, 2010 2:02am Jul 21, 2010 2:02am
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
I would wait for a close above R- 1.5457 and look for a buy signal or wait for a close below the S - 1.4925 for a sell signal - this will signify a trend change to down on the worker which will align with the direction of the boss trend.
  • #13,117
  • Jul 21, 2010 2:10am Jul 21, 2010 2:10am
Hello everyone,

Just wanted to add that 1.5350 is the area where the May controlling bearish candle is taken out.
So yes, given the last month's bullish momentum long orders are in place.
TP1 @ 1.5450 for me and see from there.

Anxious to hear what Strat has to say

R.
  • #13,118
  • Jul 21, 2010 2:18am Jul 21, 2010 2:18am
Hi Strat and everyone...

i'm newbie to this thread and already read some of post from the first one, could anyone tell me where i could find the graphic (chart) explaination of BEEB, BEOB, BUOB, and BUEB. (which page ??)

thanx for the help

Tinorio
Helping Others bring u luck
  • #13,119
  • Jul 21, 2010 2:29am Jul 21, 2010 2:29am
Quoting tinorio
Hi Strat and everyone...

i'm newbie to this thread and already read some of post from the first one, could anyone tell me where i could find the graphic (chart) explaination of BEEB, BEOB, BUOB, and BUEB. (which page ??)

thanx for the help

Tinorio
Gee, how many threads are you going to go on asking for information?

Plus anyone requesting crap like this is NOT suitable for this thread:

EA that open more than 300 position in a mounth
Posted May 24, 2010
Where can I found EA that open more than 300 position in a mounth ? offcourse it has to be profitable, little profit would be fine. If anybody in this forum knows, please let me know the name and where can i get it... Thanx in advance.. Tinorio
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,120
  • Edited 2:52am Jul 21, 2010 2:35am | Edited 2:52am
Quoting strat
Here is a nice test for students on The Path:

Boss already rejected by R for the third time and now rejected by 50

Worker hammer at trend support (Strat Shadow) and 61.8% retrace

What is your next move?
LONG but aware of the Boss R and baseline down TL from 15 July 2008.

Boss is rejected by R but still bullish on the immediate bullish trend. Boss & worker momentum is still high, so it might not stop and turn back too fast and we will have warnings.

With Boss bullish, Worker has bullish reversal PA at minor support 1.52, fib 61.8% (& closed above 50%), price still above bullish TL and closed above immediate demand DSRI.

Expectations are not high and the gains might be considered scraps but it is still PASR.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_d1_21.07.png Size: 36 KB
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