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Higher low, lower high system

  • #3,201
  • Oct 13, 2010 8:45am Oct 13, 2010 8:45am
I was away from computer and Mrs V saw this one. Nice hl, little/no upper wick on entry candle. Saw eur holding at 1.40 and exited just on 30 when that held (eur had been tracking ej quite closely and Mrs V very happy with those pips).

We then had another buy on gu after the news but got out with -9 when move up failed and it became a lh. Didn't get sell loaded quick enough for the move down.
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  • #3,202
  • Oct 14, 2010 5:07am Oct 14, 2010 5:07am
3 trades today.

Left arrow up was just a bit too early, we got 2 of the other moves up.

Had the arrow down lh sell, out at BE though.
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  • #3,203
  • Oct 14, 2010 6:01am Oct 14, 2010 6:01am
Quoting Vantage
3 trades today.

Left arrow up was just a bit too early, we got 2 of the other moves up.

Had the arrow down lh sell, out at BE though.


Hi Vantage,

May I ask, for the 3rd arrow (LO), if you gave any consideration to the fact that price had already moved the daily range?

Thanks for sharing btw, I'm learning much from this thread.

Saylu
  • #3,204
  • Oct 14, 2010 8:42am Oct 14, 2010 8:42am
Quoting saylu
Hi Vantage,

May I ask, for the 3rd arrow (LO), if you gave any consideration to the fact that price had already moved the daily range?

Thanks for sharing btw, I'm learning much from this thread.

Saylu

Hi Saylu
Thats not one that we took but it was a higher low so I showed it.

We were aware of the size of Asian move but also were aware that London hadn't done that much also. We did think there was a little more in it. If you're going to bank pips you have to be prepared to enter again.

Cheers.
  • #3,205
  • Oct 14, 2010 10:01am Oct 14, 2010 10:01am
Ok, thanks.

So to confirm my understanding of the 4 arrows:
- Was the 1st a 2B fake breakout? It also had a reasonable 15m candle.
- The 2nd was an entry following a HL but waiting for some movement? I guess one would also have had to watch what happened at 1.6000.
- The 3rd we talked about, a HL.
- The 4th, I'm happy with, was a regular HL shortly after the 3rd, and by then we also had a 15M hammer that had no upper wick, so a system entry.
  • #3,206
  • Oct 15, 2010 1:36am Oct 15, 2010 1:36am
Nice clean charts V. Your good old reliable HL/LH's work well with Trend Magic IMHO
  • #3,207
  • Oct 15, 2010 1:59am Oct 15, 2010 1:59am
Quoting saylu
Ok, thanks.

So to confirm my understanding of the 4 arrows:
- Was the 1st a 2B fake breakout? It also had a reasonable 15m candle.
- The 2nd was an entry following a HL but waiting for some movement? I guess one would also have had to watch what happened at 1.6000.
- The 3rd we talked about, a HL.
- The 4th, I'm happy with, was a regular HL shortly after the 3rd, and by then we also had a 15M hammer that had no upper wick, so a system entry.
1 Yes 2b set up NB in direction of trend, even better.
2 When everything lining up we don't worry (any more) about 1st reject level, even if RN. Early in session we are more concerned about LO price.
  • #3,208
  • Oct 15, 2010 2:01am Oct 15, 2010 2:01am
Quoting orientos
Nice clean charts V. Your good old reliable HL/LH's work well with Trend Magic IMHO
It does give a slightly quicker trend than 1hr 8lwma.

Just had a counter trend 2b sell at 6026, out at BE.
  • #3,209
  • Oct 15, 2010 3:26am Oct 15, 2010 3:26am
Possible L/H setting up on 5mins.

Not sure if it's worth a trade or not though.

Looking rather bullish...
  • #3,210
  • Oct 15, 2010 3:31am Oct 15, 2010 3:31am
Quoting Musashi
Possible L/H setting up on 5mins.

Not sure if it's worth a trade or not though.

Looking rather bullish...
Obviously we are banging up against Y's high but we are not close to range yet so I'll need more convincing.
  • #3,211
  • Oct 15, 2010 3:34am Oct 15, 2010 3:34am
Quoting orientos
Nice clean charts V. Your good old reliable HL/LH's work well with Trend Magic IMHO
Mrs V is enjoying this set up ssooooooo much she has requested we consider trading trend ONLY instead of the 6 set ups we'll consider. TWT.
  • #3,212
  • Oct 15, 2010 4:05am Oct 15, 2010 4:05am
Well it broke down....
  • #3,213
  • Oct 15, 2010 5:03am Oct 15, 2010 5:03am
Quoting Vantage
Mrs V is enjoying this set up ssooooooo much she has requested we consider trading trend ONLY instead of the 6 set ups we'll consider. TWT.
Hmm. Perhaps I'll need to take a peek at this over the weekend. As you know, I'm pretty hesitant to jump over to the next big thing but if Mrs V is on board...

Nice to see you seemingly back in your trading groove, V. This month has offered plenty of prime setups so far.

By the way, I've been spending a lot of time with A/U lately as we discussed a ways back and it's looking quite promising. It's only this month that I've taken it live (and only cherry-picked setups allowed) but it's offering some excellent pips so far. Not nearly as much fun as GU though...
  • #3,214
  • Oct 15, 2010 9:17am Oct 15, 2010 9:17am
Quoting Auron112
Hmm. Perhaps I'll need to take a peek at this over the weekend. As you know, I'm pretty hesitant to jump over to the next big thing but if Mrs V is on board...

Nice to see you seemingly back in your trading groove, V. This month has offered plenty of prime setups so far.

By the way, I've been spending a lot of time with A/U lately as we discussed a ways back and it's looking quite promising. It's only this month that I've taken it live (and only cherry-picked setups allowed) but it's offering some excellent pips so far. Not nearly as much fun...
Whilst it seems to be a big thing, in the V's tradition its actually another small twist, or to be more specific narrowing down trade set ups lower from poss 6 now. Pls remember that all this set up changes really is the 1hr 8lwma, often the diff's between 1hr 8lwma and trend magic are small.

Initial thoughts FO/LO trading will remain the same, TWT. Thereafter its following the trend all the way. We in any event concerntrate on trend trades once LO range has been broken. It will miss some turn trades but for us so many of them end at BE as turns around 11-1pm gmt can take that hour or two to work themselves through in any event. So what its doing is concerntrating on what 1st post calls 100% system trades (following 1hr, 15 min) with normal hl/lh entries.

So hl/lh entries remains 100% as is, we will NOT be taking moves through trend magic as a signal, hl/lh's all the way. All the other things we discuss trade the right candles, entries with little/no wick (in direction of trade) also stay as is.

So the more things change the more they stay the same.
  • #3,215
  • Oct 15, 2010 9:31am Oct 15, 2010 9:31am
Quoting Auron112
Nice to see you seemingly back in your trading groove, V. This month has offered plenty of prime setups so far.

By the way, I've been spending a lot of time with A/U lately as we discussed a ways back and it's looking quite promising.
Cheers after last months speed wobble back on track nicely. Crazy how some self inflicted pressure can mess with your head.

We have also been watching AU for a little while now. Not the biggest mover but not that volatile. We hope to be able to trade multiple currencies if we are in au and another set up comes up.

Speaking a little more on the above subject, ie specialising in FEWER more specific set ups. I remember one story I heard about a highly successful trader that ONLY traded gu 4hr macd divergence. Had a few trades a week 50 lots at a time and remarkably successful apparently.

Anyway Mrs V having suggested it is much happier trading trend only and leaving trades at the extreme (LO excluded for now). The cake remains the same, can play around with the icing from time to time.
  • #3,216
  • Oct 15, 2010 10:29am Oct 15, 2010 10:29am
Hi Guys,

was wondering if any of you know how I can test an ea with range bar script?

Thanks J
  • #3,217
  • Oct 15, 2010 10:47pm Oct 15, 2010 10:47pm
Quoting Vantage
Initial thoughts FO/LO trading will remain the same, TWT. Thereafter its following the trend all the way. We in any event concerntrate on trend trades once LO range has been broken. It will miss some turn trades but for us so many of them end at BE as turns around 11-1pm gmt can take that hour or two to work themselves through in any event. So what its doing is concerntrating on what 1st post calls 100% system trades (following 1hr, 15 min) with normal hl/lh entries.
Agreed on this point. I still trade some reversals if we are entering an obvious area where we can expect significant supply or demand to enter the market (and the 15min PA + volume confirms this), but generally we are just moving between these larger zones and thus trend following is the optimal strategy. It seems that most days if things want to temporarily reverse we will get our 1-2-3 / 2B setup fairly quickly after LO. Of course, there are some later reversals but crunching some of my stats I am much better off with with my current strategy to avoid reversal trading much after LO and its initial swings.
  • #3,218
  • Oct 15, 2010 11:22pm Oct 15, 2010 11:22pm
Quoting Vantage
Anyway Mrs V having suggested it is much happier trading trend only and leaving trades at the extreme (LO excluded for now). The cake remains the same, can play around with the icing from time to time.
Of course, of course. I was only joking around about the "next big thing" since I know it's only a small tweak off the 8LWMA (which I don't use in order to keep the chart clean, though I generally have a good feel for where it is based on 1HR chart). Worth looking at since it would keep things visually pretty much as they are now where the bars themselves are concerned.

As for AU, yes, definitely less volatile. Pretty similar to trading EU really, but for whatever reason I find the PA it gives a bit more appealing. The last couple weeks it has been giving very steady pips but it's far too early to tell for sure. Give me a couple months and I'll let you know.
  • #3,219
  • Oct 16, 2010 3:40am Oct 16, 2010 3:40am
Quoting Auron112
I still trade some reversals if we are entering an obvious area where we can expect significant supply or demand to enter the market (and the 15min PA + volume confirms this), ................................................... there are some later reversals but crunching some of my stats I am much better off with with my current strategy to avoid reversal trading much after LO and its initial swings.
I'd go along with that.
  • #3,220
  • Oct 16, 2010 3:44am Oct 16, 2010 3:44am
Quoting Auron112
Of course, of course. I was only joking around about the "next big thing" since I know it's only a small tweak off the 8LWMA (which I don't use in order to keep the chart clean, though I generally have a good feel for where it is based on 1HR chart). Worth looking at since it would keep things visually pretty much as they are now where the bars themselves are concerned.

As for AU, yes, definitely less volatile. Pretty similar to trading EU really, but for whatever reason I find the PA it gives a bit more appealing. The last couple weeks it has...
I have cleaned up the 5 min charts a little. Have the whole load on 15 min and 1hr now. 5 min the TM, psych levels and DO, Y's high low.

Looking forward to posting some AU trades!
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