Lucky Spike System

practice in simulator.
practice practice practice, in demos, in the simulator...
in the micro.
develop the eye....
steady the passions

i see uve been piping jiva ,nice!

on the 4hr there is a spike developing, still 19 mins left for the candle to close but there is also a negative divergence in obv, could be the end of the run up in EURUSD. End of year repositioning.
Am short here.
30 pip stop
prices like to come back and test old resistance. yellow trend line.

moral of the story
always wait for a candle to close before concluding. And of course I didn't do any of the things I listed a few posts back. Stopped out.
However the inverse ea has given a signal.
So back in we go. It may be a loser too, since after 6 winners in a row to look for #7?
We shall see.
The ea doesn't use any indicators. if prices move 5 pips within 5 min at open of candle 2 hours after London open, place order in opposite direction. Stop 30 tp 15..
Ordinarily I wouldn't go long here, but we are trading mechanically according to ea's signals...
looks like the bot has put tp at resistance and stop at support. smart ea, eh?

what do I know, I would not have gone long here, but bot in reverse says go long...
I'm with bot. 7 winners in a row...

look bullish,cci trend is up on 4h for me,and the daily candle is also good,i think we might see a erubull ,or maybe its just central bank buying,spanish central bank has been a buyer of euro

news
This time they were buying the USD. The BIS were seen buying USD/JPY below 81.50 and there was also some rumoured sightings of Kampo (semi-official buying on behalf of BOJ). There were also central banks seen selling EUR/USD at 1.3310 (probably booking profits on those they bought earlier in the week at 1.3085).

turned green

look at rsi,its been gainin support,now its up

range got high too,

in here i lost a 10dollar short,i didnt look that it was above the trendline ,never went below it .

a

all those systems i posted are mostly in my recycle bin now,i left a tudor girl indi and a mtf ichimoku th3

plus nice d1 heiken ashi

i didnt expect peter to be so good,ive seen this post before,but just dodged it,but i read it today and changed my whole method and thinking,
have a read jiva
http://www.forexfactory.com/showthread.php?t=39514

hmmm.
that could be a very very simple trading technique all by itself..
look for an entry so that stop is above resistance and limit is at support for short and vice versa for long.
Just that nothing else...
well you know what I will be fiddling with for the next little while...
Boy that would really help to control risk, look for entries where stop is very small... according to that criteria...

check it out,i reckon if i only followed the greeen and red bar changes,,i would make great money,wat do u think jiva

thv guys really have updated these indis,big credits to them

peter says there isnt one system,and that indicators are mostely uselesss,

but it can be used to help ,he says use many methods,theres no other way and that under 4h we shouldnt even think about it

have u read peters thread?

http://www.forexfactory.com/showthread.php?t=114258

http://www.forexfactory.com/showthread.php?t=177093

I agree pretty much.
But lower time frames can be traded... but for entries, the higher time frames need to be consulted..

the ea looks for trades 2 times/day. 2 hours after London open and 1 hour after NY open.
So it will probably take another trade today in about 30 mins.
I'll be taking the inverse.
going for 8 wins in a row with a 30 pip stop loss, tp 15.
10 yr backtest 70% loss (which means 70% win inverse)
So we are getting close to testing the mean. Which means 7 out of 10 trades can expected to be losses. So it is highly probable that the next 3 trades or so will be losses.

No trade 1 hr after NY open, prices did not move 5 pips in any one direction within 5 mins...

http://www.downtownpet.com/blog/uplo...ing-788518.jpg

http://img3.visualizeus.com/thumbs/1...06613a96_h.jpg