subscribed as well
good, simple thing
good, simple thing
Hero calls followed by margin calls...
Trade What You See - Almost Naked Trading
- #1,462
- Oct 16, 2010 11:27am Oct 16, 2010 11:27am
- Joined Dec 2009 | Status: Trader | 6,603 Posts
No, of course, i meant different thing - divided by 3-4 pairs by 20-40 pips tp's, achieve a 100 pips amount is really easy, not by 100 pips on each trade!
- #1,463
- Oct 16, 2010 5:35pm Oct 16, 2010 5:35pm
The attached is an EA and so goes in your Expert Advisors folder.
It attempts to give an at-a-glance view of the trending status of the pairs you wish to trade. The 'Trend' col will show up/down if all three tf Rsi's are heading in the same direction. If not, it will show 'flat'.
This is fantastic, I was hoping for an EA like that! Thanks so much Steve!!
Trading Makes Money!
- #1,464
- Edited 7:14pm Oct 16, 2010 5:41pm | Edited 7:14pm
No, of course, i meant different thing - divided by 3-4 pairs by 20-40 pips tp's, achieve a 100 pips amount is really easy, not by 100 pips on each trade!
Markets are dynamic, so simply take what the market gives you.
E.g. if you see a bottom forming in the RSI indicator, take your profit. If you see reversal candles (dojis, inside bars, outside bars, long bars, etc.) or previous S/R (esp. on h4) take your profit. Or at least take half and set your SL to BE.
There are no hard and fast rules in Forex. Trade what you see - as Lawgirl said it.
Trading Makes Money!
- #1,465
- Edited 5:25am Oct 17, 2010 4:01am | Edited 5:25am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I have just been forced to work out how to send emails from within an EA, by a pal for whom I am doing some coding.
It turns out to be ridiculously simple, so I have added the function here. This ea should now send you an email alert when it detects a change from a flat to a trending market. To enable this feature:
It turns out to be ridiculously simple, so I have added the function here. This ea should now send you an email alert when it detects a change from a flat to a trending market. To enable this feature:
- leave the AlertByEmail input at its default of 'true'
- in your platform, go to Tools|Options|Email and set up your email thingies.
A couple of curiosities are emerging with the ea. I sometimes find I have to click on the chart to achieve a display when I drag it onto a chart. I have no idea why.
Changing the PairsToTrade input does not appear to work whilst the ea is running - it makes my display disappear completely. Changing the input involves 4 stages:
- call up the ea's Inputs window and save your existing set file
- make your changes
- re-save the set file
- re-drag the robot onto the chart, loading it with your new set file
A bit of a faff, I know, but not as though we have to do this 15 times a day.
I just had another idea and have added two new inputs: TrendRequiresAllThree and TrendRequiresOnlyHtf
- TrendRequiresAllThree requires all tf Rsi's to be pointing in the right direction before alerting us to a trend change
- TrendRequiresOnlyHtf requires only the D1 and W1 to be pointing in the right direction before alerting us to a trend change
I do not know which setting is the best to use as I have not sufficient experience with the system. Any advice, lg?
- #1,466
- Oct 17, 2010 4:15am Oct 17, 2010 4:15am
Steve -you are a genius
I have just been forced to work out how to send emails from within an EA, by a pal for whom I am doing some coding.
It turns out to be ridiculously simple, so I have added the function here. This ea should now send you an email alert when it detects a change from a flat to a trending market. To enable this feature:
- leave the AlertByEmail input at its default of 'true'
- in your platform, go to Tools|Options|Email and set up your email thingies.
A couple of curiosities are emerging with the ea. I sometimes find I have...
- #1,467
- Oct 17, 2010 5:27am Oct 17, 2010 5:27am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve -you are a genius
I had another idea, also easy to code, so you might like to go back to my previous post again, as I have edited it.
- #1,468
- Oct 17, 2010 7:27am Oct 17, 2010 7:27am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
...I have traded forex for approximately 4 years, have lost more than a few thousand dollars, have responded to more than one $99 special offers for the holy grail. I have followed several threads on FF, some with more success than others, have downloaded about every indicator known to man. But I did not really start making real money until I deleted all the indicators (except one) and started drawing trendlines and support/resistence levels.
I was working all alone, having just about given up on FF. I had been pretty active in a thread where most were calling for 200+ pip moves in a certain pair .. and changing the direction of their calls at least 3 times a day (or so it seemed)!
I had streaks of making a bunch of money, but it was not consistent and often felt more like gambling than trading ...
I am really looking forward to picking up some useful information that I can see is already in sync with my own recent discoveries & then to enjoying some comeraderie from like-minded traders.
So I'm off now to read 98 pages before commenting again as I don't want to ask questions that have already been answered a dozen times.
Thanks lawgirl!
*******************
I'd rather make money than be right.
- #1,472
- Oct 17, 2010 9:53am Oct 17, 2010 9:53am
- Joined Dec 2009 | Status: Trader | 6,603 Posts
Yes, I managed to profit 76 pips out of this trade.
- #1,473
- Edited 10:43am Oct 17, 2010 10:26am | Edited 10:43am
I'm so happy about that! I went back to check it and noticed that it turned on the next candle, if I remember correctly. Great job! You were watching it and did not let it go "loser" on you.
LG, thanks for your kind words.
To be honest 3taps was not the only reason why I entered the trade.
There were three reasons:
1. Trend line (medium TF from days before)
2. Price bounced off fibo 50% (I entered near fibo 61% and put SL just below previous swing low)
3. 3 taps (Edit: candle was not closed yet on the last tapped bar. In fact it was just forming but I noticed somehow price respected the trend line as it bounced off the line right away)
In fact if you notice, the 3 taps already happened three of days before (tuesday) and the trend still strong until friday morning US!
Sorry I did not upload the last chart with the rest 2 reasons because I did not want to divert far from this thread. Also, I did not want to confuse anybody with what appeared to be a mix trading system (although there are all based on price action).
So make no mistake, I believe 3 taps alone is still a good setup.
Let me attach a chart so you can see what I saw.
*Edit: green line was my entry level*
Thanks LG.
