Disliked2. I trade the EA with the ATR value of each pair. i trade using 3 trades for each pair with a total risk exposue of 6 per centIgnored
What you mean with 3 trades per pair and what do u use atr for? You mean tp and sl?
Thanks
Semi automatic EA (Driven Version)
- #1,924
- Oct 2, 2010 8:03am Oct 2, 2010 8:03am
Finally before I take my break today.
To help confirm the trend direction when trading USD pairs apply the 30/60/120 ema on a 4 hr chart of the US Dollar Index(professional trading tip
). The trend on that index will determine dollar stength or weakness on all your forex pairs.
For yen pairs the general rule is Usd Jpy determines overall trend direction of the yen pairs. However it is not as definite as the dollar index. In most cases when the dollar is weak on all fronts the other yen pairs are quite choppy.
To help confirm the trend direction when trading USD pairs apply the 30/60/120 ema on a 4 hr chart of the US Dollar Index(professional trading tip
). The trend on that index will determine dollar stength or weakness on all your forex pairs.For yen pairs the general rule is Usd Jpy determines overall trend direction of the yen pairs. However it is not as definite as the dollar index. In most cases when the dollar is weak on all fronts the other yen pairs are quite choppy.
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- #1,926
- Edited 3:34pm Oct 2, 2010 2:56pm | Edited 3:34pm
Zukies thanks for the complement, but actually is nothing new.
Please take note we only trade the 4hr chart and not daily. The EMAs are only for the 4 hr chart.
For example when price breaks above the 120 ema on the 4hr chart.We would like to see a daily close with price above the 120 ema on the 4hr chart. Before we have a valid change of trend and thereby drive the EA in that direction.
You would now place the EA main trend line to pass through the swing low of the price swing that broke the 120 ema, because usually...
Ok, I admit i made mistake, i used 120 on daily as well instead of 20
now my eur/aud makes sense, just three things, if we just trade daily and watch for ema break on daily and H4 could we do this instead of using ema's and trend line or are the ema's and trend line just safety feature. I see just with 120 ema and 20 we get a LOT of trades Can we do this??? or not
And...you speak of USD index which is actually going DOWN, EUR/USD is picking up or is it just a STRENGTH indicator meaning if the price is close to 120 ema H4 then the trend is weak???
- #1,927
- Oct 2, 2010 3:03pm Oct 2, 2010 3:03pm
Ok just give you bit of idea, I'm rather new to this manual trading i must admit so if you dont mind I'm going to come with LOTS of questions because i really want to get this idea right
According to your previous eur/aud example I see that price DID break on H4 but as you say price SHOULD break on D1 at same time?? From my chart it doesn't seem the case? in fact, this pair is STILL under 120 ema so i wouldn't have opened because trend is invalid? But i see a bit later that price IS rising onH4 so you are right?
1. 4hr charts not the daily chart.
2. I refer to a daily close on the 4hr chart of price below or above the 120 ema.
3. Since you are new to this type of trading,your best option is to search for already established trends on the 4hr chart using the 30/60/120 ema and drive the EA in that direction.
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Hi Oke,
I have an idea, why don't you place your trades on zulu trade where people can follow and you get paid for it
www.zulutrade.com
I have an idea, why don't you place your trades on zulu trade where people can follow and you get paid for it
www.zulutrade.com
- #1,934
- Edited 2:22pm Oct 3, 2010 1:53pm | Edited 2:22pm
Zukies, the questions you are asking me indicates that you have not gone through the thread on how to trade the EA. The EA needs a trend line to be drawn to help it know when it stops taking trades. When the trend line is broken by price the EA stops trading.
So take the time, to study the thread, I am just making inputs on how to identify the medium term trend to drive the EA.
However I have attached a chart on possible trend lines on the eur aud current uptrend there is an outer trend line and an inner trend line.
Concerning the above comment from you the trend line should be drawn THROUGH the last swing not next to it and you have drawn TWO which confuses me, which one now can one use for the EA the inner or outer and why??
Also, can you elaborate more on how to draw these trend lines because as i say, in the previous comment you said the line should go THROUGH the last swing (I'm trying to draw trend lines now as accurate as possible)
Do you have to keep editing your trend line to suit the trend or is the one by the long entry enough for the whole trade?
Thank you for your time and patience, the only real thing I'm now struggling with currently is HOW to DRAW these trend lines (I mean I might draw my line WAY different to yours and my EA stops trading too early and when there IS another trade the EA should take it doesn't because of my trend line being too close?), you seem to have a good technical way of drawing them so I would appreciate your help in this regard
Samurai DOES give PDF's on this point but those notes just DON'T make sense to me, only REAL thing i picked up was that you shouldn't draw your trend lines too CLOSE to candles but that doesn't help me at all! is why i ask for further advice from you.
And BY the way, I THANK you for what you're doing here with your explanations so your help IS HIGHLY appeciated
- #1,935
- Oct 4, 2010 5:19pm Oct 4, 2010 5:19pm
I have been through this thread but a while ago, i know there are VARIOUS versions of this robot even floating around this thread, i just thought you wouldn't be using trend lines to drive this EA that's all
Concerning the above comment from you the trend line should be drawn THROUGH the last swing not next to it and you have drawn TWO which confuses me, which one now can one use for the EA the inner or outer and why??
Also, can you elaborate more on how to draw these trend lines because as i say, in the previous comment you said the line should...
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