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  • #2,041
  • Aug 13, 2010 12:36pm Aug 13, 2010 12:36pm
If I'm not wrong, I think there is no need to set the time zone of news master, cos its only a count down from the news announcement, no matter the time zone you are.

I trust this is right
Eric

Quoting jasonhingfx
Hello Rob,
I've actually tried that. I moved my broker time ahead by 1 hour from +3 to +4 which fixed the time error -3600 but all the opening/closing time also advanced by 1 hour. I had to increase 1 hour in the GMT settings to fix it. Then I found that the News master is now delayed by 1 hour since I can't correct it by adding 1 hour like the other settings. I guess I can live with not using the news master.

I'm from Malaysia and I don't have daylight savings here. I'm going to try and play around with the timezone in Windows 7 to see if I can...
  • #2,042
  • Aug 13, 2010 5:27pm Aug 13, 2010 5:27pm
I got an email from rogerdoger about this. Appears that there is confusion about how to move the dash to a non-existent window.

I did a quick jing clip to show how to do it:
http://screencast.com/t/NWI5ZDRj

Quoting rogerdoger
do you know how to remove the dashboard from the chart but still keep the s/r utility intact?
  • #2,043
  • Aug 13, 2010 6:08pm Aug 13, 2010 6:08pm
Yes is correct. The news is real-time and shows time until events so no need for time zone info.

Had a quick look at your journal ... you seem to be doing well

Quoting Buildcity
If I'm not wrong, I think there is no need to set the time zone of news master, cos its only a count down from the news announcement, no matter the time zone you are.

I trust this is right
Eric
  • #2,044
  • Aug 14, 2010 2:16am Aug 14, 2010 2:16am
Hello, Stratman and everybody else! I started to trade with dahsboards older versions about a month ago and now i have the latest version and its great!
Only the news master, i think, was better, wenn it was on each chart and showing news only for this pair. But enyway-results are good-thanks for the great work!
  • #2,045
  • Aug 14, 2010 5:20am Aug 14, 2010 5:20am
Quoting stratman
Now that the trade is in serious profit I have switched over to managing it on the H1 time frame.

We are very close to a resistance point (look left) and my strategy now is to move my stop to the bottom of each H1 candle.

btw .. home for the weekend

Attachment
This is the way i trade. Open on M1 or M5 with stop about 10-15pips+spread. And if it goes in the right way, i swich ower to H1. This way i got a trade last week with 10pips stop and closed manualy with 200pips profit!
  • #2,046
  • Aug 14, 2010 5:32am Aug 14, 2010 5:32am
Quoting stratman
Yes is correct. The news is real-time and shows time until events so no need for time zone info.

Had a quick look at your journal ... you seem to be doing well
Rob,

Tks, your S&R function comes from DB did help me a lot.

Eric
  • #2,047
  • Aug 14, 2010 5:56pm Aug 14, 2010 5:56pm
At present, I consider the following most important

1) SMA60 on all time frames ... price 'bounces' or 'stalls' there a lot.
2) Never have a stop larger than 10 pips.
3) Close any trade that has gone into profit ie never let a winning trade become a loss ... more difficult than it sounds
4) Enter trades on a pull back of a main move. While in a pull-back, watch lower time frames for reversal signal:
..a) Highs and Lows (fractals) confirming the main move is continuing.
..b) Break of reversal candle with stoch slope agreement.
..c) Break of trend line made by the pull-back.
..d) Bounce off SMA60.
..e) HA candles change of color.
..f) Bounce off Support and Resistance.

Something I have thought about a lot is that because approx 95% of traders fail, there is sense in trading opposite to what they do ie we should consider how a typical newbie will trade and do the opposite?

Quoting Ultimatus
Hi Stratman, thanks for the chart examples and great to see you are having the time to trade again.

I know you are very busy at the moment with your software contract, but I was wondering if perhaps you can look into this in the near future....?

...I would really apprecieate it if you could write a simple PDF or similar of the strategies that you use i.e. your 'system'....
  • #2,048
  • Aug 14, 2010 6:23pm Aug 14, 2010 6:23pm
Using these entry methods, almost 100% of my trades go into profit ie very rare for a trade to have only negative pips. Approx 50% of trades will be exited around plus 2-6 pips.

These are the trades that most people likely lose on because they allow them to reverse and hit a large stop. It's much better having 3 x +2 pips than 3 x -10 pips

The trades I benefit the most from are the ones going 15 or more pips. Those happen often during the start of London .. the time I normally trade.


Quoting stratman
At present, I consider the following most important

1) SMA60 on all time frames ... price 'bounces' or 'stalls' there a lot.
2) Never have a stop larger than 10 pips.
3) Close any trade that has gone into profit ie never let a winning trade become a loss ... more difficult than it sounds
4) Enter trades on a pull back of a main move....
  • #2,049
  • Aug 14, 2010 6:35pm Aug 14, 2010 6:35pm
While trading, I think of myself like the owner of a Casino. All I need is the 'edge' ie even though I lose sometimes during the short term, I profit over the long term ... the house has the 'edge' or 'advantage' over the gamblers. This edge doesn't need to be very large.

I have said this before ... you can have a absolutely terrible win/loss ratio but still be profitable if your risk/reward is good.

Example:

If I win 20% of trades (1 out of 5) with a average loss of 2 pips and average win of 11 pips I have an 'edge'. It may be very small (+1 pip every 5 trades) but it's enough to make money ie the number of lots traded determines the size of your actual monetry profit.

Now, if you can kill most 'losing' trades as close to break-even as possible, maybe +1 pip average, you would gain 15 pips over those 5 trades
  • #2,050
  • Aug 14, 2010 6:43pm Aug 14, 2010 6:43pm
In summary, my strategy relies on entry signals that almost always go into profit (sometimes only 2 pips) but I get out as soon as a loss looks likely to keep my win/loss and risk/reward favorable.

During the 2-3 hrs I trade (early London) there will be 2 or 3 entries that become 15 or more pips.

Because I risk 1% per 10 pips, profit % is easy to calculate eg if you want a target of 1% per day, you only need to get +10 pips. My current target is 2.4 % which means 24 pips.

Compounding 2.4% per day will increase your account by 10 times over 100 days.
  • #2,051
  • Aug 14, 2010 6:47pm Aug 14, 2010 6:47pm
Because Dukascopy charges commission on top of spread, my break-even has to take this into account.

For dukascopy, I think of +2 pips as break-even ie 0 pips will be a losing trade as I still need to pay commission on every trade.
  • #2,052
  • Aug 15, 2010 4:20am Aug 15, 2010 4:20am
Quoting stratman
At present, I consider the following most important

1) SMA60 on all time frames ... price 'bounces' or 'stalls' there a lot.
2) Never have a stop larger than 10 pips.
3) Close any trade that has gone into profit ie never let a winning trade become a loss ... more difficult than it sounds
4) Enter trades on a pull back of a main move....

Nice set of posts, stratman. They prompted some questions, if you have the time to answer

  1. One of the most common ways of stop placement is to place it behind the high(or low) of the signal candle. Do you do this? (which means you will let a signal bar of more than 10 pips go past without trading it) or do you use 10 pips irrespective of how large the signal candle is? and let the momentum of the signal and entry bar guide you

  1. How far past the entry does price have to move before you move the SL to +1 or +2. How long do you give it?

  1. Do you use any time of mechanical trade management EA or script to place orders, move stops and take profits, or do you do all this manually?

  • #2,053
  • Aug 15, 2010 3:13pm Aug 15, 2010 3:13pm
Yes, place the stop behind the signal bar but no more than 10 pips. Sometimes stop will be 'in' the signal bar ... but maybe not if you move down to a lower time frame.

I don't move my stop to break even (+1 or 2 pips in my case) until around 10 pips. I exit manually when the trade is starting out.

No EA. Always manual

Quoting Royston
Nice set of posts, stratman....
  • #2,054
  • Aug 15, 2010 6:42pm Aug 15, 2010 6:42pm
Quoting stratman
I got an email from rogerdoger about this. Appears that there is confusion about how to move the dash to a non-existent window.

I did a quick jing clip to show how to do it:
http://screencast.com/t/NWI5ZDRj

thanks for the reply. however, when i do that, the box showing the daily ranges gets moved and not the dashboard like in the video was moved.

is there anything else I can try? or should i just switch the mt4 to a different broker
  • #2,055
  • Aug 15, 2010 9:37pm Aug 15, 2010 9:37pm
I'm a bit confused ... the box with the daily ranges is part of the dashboard.

Maybe you can show a picture of what it is you are trying to get rid of?

Quoting rogerdoger
thanks for the reply. however, when i do that, the box showing the daily ranges gets moved and not the dashboard like in the video was moved.

is there anything else I can try? or should i just switch the mt4 to a different broker
  • #2,056
  • Aug 15, 2010 10:47pm Aug 15, 2010 10:47pm
Quoting stratman
I'm a bit confused ... the box with the daily ranges is part of the dashboard.

Maybe you can show a picture of what it is you are trying to get rid of?
im trying to get rid of the large box with all of the lights (located in window 1 of your video) but keep the box with the daily range. when I try to do what you did in the video, it moves the daily range box but keeps the large box with the lights in the same place even though i did exactly the same thing as you did

thanks
  • #2,057
  • Aug 16, 2010 1:14am Aug 16, 2010 1:14am
are you not referring to the debug panel for alerts perhaps?
http://screencast.com/t/YTcyMmViYmQt
  • #2,058
  • Aug 16, 2010 4:40am Aug 16, 2010 4:40am
Ok,i got this... But anyway-if the deal goes some god pips in my way, i swich ower to H1 and place the stop acording to H1 fractal+spread+filter 3pips. And let the price do the rest.
  • #2,059
  • Aug 17, 2010 4:52am Aug 17, 2010 4:52am
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd m1.gif Size: 24 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 5 min.gif Size: 33 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15 min.gif Size: 33 KB


Have a good Trading Day

fishman356
  • #2,060
  • Aug 17, 2010 5:09pm Aug 17, 2010 5:09pm
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 5 min.gif Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15 min.gif Size: 39 KB


Which way will it go , I have buy stop and sell stop, with a approx forty pip profit each way, and a 10 pip sl, dashboard tells me yesterday that asian went 46 pips and nz sydney went 33 pips so , lets see what happens. I have the db on another screen.

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