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Higher low, lower high system

  • #1,981
  • Jul 27, 2010 10:55am Jul 27, 2010 10:55am
Just wondering if anyone here has experience trading gold, system seems to work nicely.
  • #1,982
  • Jul 27, 2010 8:10pm Jul 27, 2010 8:10pm
subscribing to this thread....
  • #1,983
  • Jul 28, 2010 1:00am Jul 28, 2010 1:00am
Quoting Vantage
Just wondering if anyone here has experience trading gold, system seems to work nicely.
I've been trading gold for a while but on longer timeframes. Minimal experience intraday. I'll try to keep an eye on it. You were testing AUD/JPY before - how did that go?
  • #1,984
  • Jul 28, 2010 1:20am Jul 28, 2010 1:20am
Quoting Vantage
Got distracted and missed prob trade of day so far on ej but never mind.

First trade was a gu lh against the pos close 15 min but it was another inside bar and we had a lower close on 5 min followed by a shooting star.

Scalped 11 pips.

If I may be so bold as to give a suggestion in your own thread, I think that you should add in some more detail on your exits if possible (for this trade, the next one, and others as well). Learning entries is easy, and most threads focus on that. It's in the exits and the trade management where most novice traders falter.

Of course, exits and trade management strategies are very much an individual thing and difficult to articulate, which I'm sure is why they are given so little focus on the forums. However, I think that seeing another traders' perspective, even if someone is unable to replicate that exact mindset, is very beneficial to those trying to form their own understanding of the markets. For instance, why exit there instead of looking for a further move? Did you go into these trades looking to scalp, or did the PA during the move convince you to get out? If you were convinced, what price action formations and bars in particularly convinced you that price would likely turn? Any sort of additional detail on your thought process concerning exits would, I'm sure, be very appreciated by those viewing the thread.

Cheers.
  • #1,985
  • Jul 28, 2010 1:40am Jul 28, 2010 1:40am
Quoting roundrock
subscribing to this thread....
Welcome aboard.
  • #1,986
  • Edited 2:23am Jul 28, 2010 1:46am | Edited 2:23am
Quoting Auron112
If I may be so bold as to give a suggestion in your own thread, I think that you should add in some more detail on your exits if possible (for this trade, the next one, and others as well). Learning entries is easy, and most threads focus on that. It's in the exits and the trade management where most novice traders falter.

Of course, exits and trade management strategies are very much an individual thing and difficult to articulate, which I'm sure is why they are given so little focus on the forums. However, I think that seeing another traders'...
Exits have been my weakness for ages. I am aware of the problems and am working on it. On those trades I was more in scalp mode because of weak vol in London session, counter trend and perhaps importantly my mindset lately which has been a concern (performance issues ie we are up for month but its down from general levels) and just happy to grab 20 between the 2.

I missed the nice hl later from 5450 and did call the break out effectively above 5525 (although I didn't see a nice entry) so things are chugging along but should be much, much better.
  • #1,987
  • Edited 2:03am Jul 28, 2010 1:53am | Edited 2:03am
not strictly your h1 reversals and m5 entries but man how pretty is that ej and cadjpy chart.

entries using pa and your m5 reversal, targets 2b H1 resistance.

Sorry for offtopic post V but your stuff has so opened my eyes to candlestick analysis and PA, just fantastic.

P.S I am finding getting the entries pre FO at 6am BST is getting me useful pips before the FO / LO shenanegans
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cadjpy.gif Size: 31 KB
  • #1,988
  • Jul 28, 2010 2:31am Jul 28, 2010 2:31am
We were concerned with this being counter trend and left.

It was a perfect system trade, 1 hr shooting star, 15 min neg close on higher vol. The 5 min shooting star with little/low lower wick confirms one of our basic trading thoughts, weaker bounce from key level (RN, W M4 and Y's high combo) so should be sell.

Why weaker bounce from key level and why does it generally work. IMHO if the big boys were buying 5600 (and any other key level) it should go from there right? Prior to the SS arrow down pa had touched 5600 twice, why hadn't the big boys bought already?

A missed opportunity, once again when ALL makes sense ito your rules take the trade.

Missed opp number 10291.
Attached Image (click to enlarge)
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  • #1,989
  • Jul 28, 2010 2:39am Jul 28, 2010 2:39am
Quoting Vantage
We were concerned with this being counter trend and left.

It was a perfect system trade, 1 hr shooting star, 15 min neg close on higher vol. The 5 min shooting star with little/low lower wick confirms one of our basic trading thoughts, weaker bounce from key level (RN, W M4 and Y's high combo) so should be sell.

Why weaker bounce from key level and why does it generally work. IMHO if the big boys were buying 5600 (and any other key level) it should go from there right? Prior to the SS arrow down pa had touched 5600 twice, why hadn't the big...
I got 5pips out of this one I got nervous when it bounced off days open I was only looking for 15589 anyway but should have waited.
  • #1,990
  • Jul 28, 2010 3:07am Jul 28, 2010 3:07am
We sold the 5 min lh at 5575, out at BE when the Asian session lows at 5562 held.
  • #1,991
  • Jul 28, 2010 3:28am Jul 28, 2010 3:28am
Thanks for your system. I think this should complete your system.
Attached Image (click to enlarge)
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  • #1,992
  • Jul 29, 2010 1:21am Jul 29, 2010 1:21am
Quite the first post to enter someone's thread and "complete" their system. How kind of you.
  • #1,993
  • Jul 29, 2010 1:25am Jul 29, 2010 1:25am
haha
  • #1,994
  • Jul 29, 2010 1:35am Jul 29, 2010 1:35am
Mrs V thought she was buying this ej 100% system trade, she actually set up gu which wasn't. No harm done as we got out of gu at BE on the quick pullback. I can't even get upset as I've done the same thing once.
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  • #1,995
  • Jul 29, 2010 1:51am Jul 29, 2010 1:51am
Me too, and more than once, I am sorry to say. I took the EJ but only got +10. Poor exit (again).
  • #1,996
  • Jul 29, 2010 3:12am Jul 29, 2010 3:12am
Sold this lh at extreme, reject of D pivot 113.85 out -15.
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  • #1,997
  • Jul 29, 2010 3:26am Jul 29, 2010 3:26am
Using PA H1 buying momentum looked strong. M5 higher low entries and H1 targets worked again.

Watching m5 scares me out of trades.

Cheers Vantage.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cj (2).gif Size: 29 KB
Click to Enlarge Name: ej (2).gif Size: 30 KB
  • #1,998
  • Jul 29, 2010 7:19am Jul 29, 2010 7:19am
We had another gu 100% system buy which never followed through for -13, not a good day. Haven't had a day like this for a long time Mrs V loaded gu for ej and instead of a nice profit there almost -3% on 2 trades.
  • #1,999
  • Jul 29, 2010 7:36am Jul 29, 2010 7:36am
Quoting Vantage
We had another gu 100% system buy which never followed through for -13, not a good day. Haven't had a day like this for a long time Mrs V loaded gu for ej and instead of a nice profit there almost -3% on 2 trades.
Hi Vanatge what time was the -13pips on GU?

Cheers
  • #2,000
  • Jul 29, 2010 7:40am Jul 29, 2010 7:40am
Quoting reflex
Hi Vanatge what time was the -13pips on GU?

Cheers
9.55 gmt.
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