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Two Reversal Bar Entry System

  • #201
  • Edited 6:00pm Jan 19, 2011 5:45pm | Edited 6:00pm
Quoting jiva34
...
Short EURUSD, long USDJPY, short EURGBP
...
Short EURUSD, EURGBP ... Reentry? ... can you tell me the reason?
USDCHF possible long trade looks good (but first, news).

Thx.
  • #202
  • Jan 19, 2011 6:12pm Jan 19, 2011 6:12pm
hedged EURGBP
short was a mistake.
just dumb
prices sitting on support wood pivot..
have reverse position. Long..
trying to get it right.
the short moves were there but I was late getting in.
I notice you stay for 10 pips only.
I was thinking to catch bigger moves.
20, 50 and beyond...
Staying short EURUSD, think there is more to go down.
Again late to the party...
  • #203
  • Jan 19, 2011 6:14pm Jan 19, 2011 6:14pm
Long EURGBP

Next trade London sassion.
Looks good for EUR.

Have fun, Wandler.
  • #204
  • Jan 19, 2011 6:26pm Jan 19, 2011 6:26pm
Quoting jiva34
hedged EURGBP
short was a mistake.
just dumb
prices sitting on support wood pivot..
have reverse position. Long..
trying to get it right.
the short moves were there but I was late getting in.
I notice you stay for 10 pips only.
I was thinking to catch bigger moves.
20, 50 and beyond...
Staying short EURUSD, think there is more to go down.
Again late to the party...
OK, I understand.

10p. 20p. 30p. ... I use the TP according to how well the signal is (or rather, I think, how good it is).

Maybe you interested this. You probably already know.

But I would not say more, lest I disturb you in the development of the strategy.

...

In addition: GBPJPY Short and wait for London open.
  • #205
  • Jan 19, 2011 6:51pm Jan 19, 2011 6:51pm
Quoting Wandler
OK, I understand.

10p. 20p. 30p. ... I use the TP according to how well the signal is (or rather, I think, how good it is).

Maybe you interested this. You probably already know.

But I would not say more, lest I disturb you in the development of the strategy.

...

In addition: GBPJPY Short and wait for London open.
You are part of the development of the strategy.
I thought maybe you were just crazy. Apologies.
Just communication problem.
We see you are very serious trader and are probably successful at least to some degree.

Yes it may be that my profit targets are unrealistic.
But that was why I chose 20 pips as the trigger for closing a position and moving stops to break even. 20 pips is not so much to expect from a trigger on the 4 hour chart. Or so I was thinking.

But I was considering only trading EURUSD small spread big swings.
This may still be good for EURUSD.
But maybe I could use your "10 pip grab and run" for other pairs.
thank you for your input and humility.

Could you explain a bit more in detail what you are doing since you are somewhat successful with the 10 pip profit trades? what candles you are using 60min?

How you consult the mtf, and what you are using macd. rsi?
Thanks.. if you don't mind to share with us...
Your posting is respected.

It was confusing that your charts had so many "railroad tracks" and yet you were saying you didn't use indicators. So we thought he is crazy. But we see now they are there for reference and as a side thought main focus is 2 candle reversal breakout.
So hopefully the air is cleared on that and you will feel welcome on the thread.
I think you have some things you can share that will help us.
Ich denke, wir können einige Dinge von Ihnen lernen.
That's what this is all about.
Okay? friend?
  • #206
  • Jan 19, 2011 6:59pm Jan 19, 2011 6:59pm
Quoting Wandler
OK, I understand.

10p. 20p. 30p. ... I use the TP according to how well the signal is (or rather, I think, how good it is).

Maybe you interested this. You probably already know.

But I would not say more, lest I disturb you in the development of the strategy.

...

In addition: GBPJPY Short and wait for London open.
Yes GBPJPY short..
I will look for the 20 pips first target strategy.

But it does increase the risk on the trade. Since there are 3 positions that could stop out for a loss.
Whereas a winning trade might only be 1 position for 20 pips and 2 positions closing at break even.
Will have to way and measure if it is actually worth it try for a 3 position trade with this strategy or where and when it is worth it to place the 3 positions as opposed to maybe looking for 10 pips only.

Can you tell us little more detail what you look for in a trade?
  • #207
  • Jan 19, 2011 8:36pm Jan 19, 2011 8:36pm
Quoting Wandler
OK, I understand.

10p. 20p. 30p. ... I use the TP according to how well the signal is (or rather, I think, how good it is).

Maybe you interested this. You probably already know.

But I would not say more, lest I disturb you in the development of the strategy.

...

In addition: GBPJPY Short and wait for London open.
re:this

Yes. this is being done on a very big scale. Quantitative analysis.
Just reading the post at this link has changed my outlook considerably.
  • #208
  • Jan 19, 2011 8:59pm Jan 19, 2011 8:59pm
For now we will stay with the original plan.
Look for entries at significant market times,
market opens specifically Tokyo and Europe
3 positions look for +20, +50 and beyond...
240 2 reversal candle signal
and manage the trade on the 15 minute.
  • #209
  • Jan 19, 2011 10:10pm Jan 19, 2011 10:10pm
1 hour before Frankfurt
long signal EURUSD
consolidation area.
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  • #210
  • Edited 11:41pm Jan 19, 2011 11:27pm | Edited 11:41pm
It may be that the targets are too high.
The signal (no longer visible) was good for 15 pips.
So the 20 was not reached and now there is a sell off.
It was Frankfurt open with good German data, but Tokyo is still open.
It may be more practical to look for gain with a larger position and 10 pips than 3 small positions and not reach the targets.

Still consolidation. Frankfurt was not enough to actually break out. London will still be the decider.
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  • #211
  • Jan 20, 2011 1:15am Jan 20, 2011 1:15am
still in the trade
watching volumes.
fascinating.
How to see when the buyers are done and then the prices falls
and when the sellers are done the price goes up..
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File Type: mq4 Volume Teacher v4.mq4   43 KB | 305 downloads
  • #212
  • Jan 20, 2011 1:40am Jan 20, 2011 1:40am
Want to watch near Tokyo closing,
if there has been a run during the session looks like we can expect profit taking just before the Tokyo market closes.
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  • #213
  • Jan 20, 2011 1:57am Jan 20, 2011 1:57am
first tgt reached +20
stops moved to just above break even
2nd tgt 50
3rd closes with macd cross
of stopped out

That's the toughest part. Getting to that first target. After that no risk and 2 positions to run....
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  • #214
  • Jan 20, 2011 2:00am Jan 20, 2011 2:00am
Quoting jiva34
You are part of the development of the strategy.
I thought maybe you were just crazy. Apologies.
Just communication problem.
We see you are very serious trader and are probably successful at least to some degree.
Yes, my English is not as good.
I use Google translation. If you do not understand what, say modest I try to describe it differently.

Normal, I am a silent observer, but it has just got to see that anyone had the same strategy useless ... I wanted to join in a bit.

Quoting jiva34
Could you explain a bit more in detail what you are doing since you are somewhat successful with the 10 pip profit trades? what candles you are using 60min?

How you consult the mtf, and what you are using macd. rsi?
Thanks.. if you don't mind to share with us...
Your posting is respected.
Yes, I am doing ... later (currently no time).

Wandler.
  • #215
  • Jan 20, 2011 2:09am Jan 20, 2011 2:09am
Hey Jiva,

I'm bit late to the party today!

Can i ask, where did you set your SL when you initially entered the trade?

I think i would have been stopped out on the spike that went below the 200 ma
  • #216
  • Jan 20, 2011 2:10am Jan 20, 2011 2:10am
Quoting jiva34
first tgt reached +20
stops moved to just above break even
2nd tgt 50
3rd closes with macd cross
of stopped out

That's the toughest part. Getting to that first target. After that no risk and 2 positions to run....
Very nice EU session.

GBPUSD, EURUSD, EURJPY ... Long Close with any TP 20p.
USDCHF ... Short Close with TP 20p.

NZDUSD, AUDUSD .... Long (but with sm. TP 10p.).
  • #217
  • Jan 20, 2011 2:19am Jan 20, 2011 2:19am
Quoting indy360
Hey Jiva,

I'm bit late to the party today!

Can i ask, where did you set your SL when you initially entered the trade?

I think i would have been stopped out on the spike that went below the 200 ma
I moved it a bit lower than the low of the first 4 hr candle in the set up. I'm watching out for profit taking spikes around Tokyo close.
  • #218
  • Jan 20, 2011 2:20am Jan 20, 2011 2:20am
Quoting Wandler
Very nice EU session.

GBPUSD, EURUSD, EURJPY ... Long Close with any TP 20p.
USDCHF ... Short Close with TP 20p.

NZDUSD, AUDUSD .... Long (but with sm. TP 10p.).
I experimented with other pairs taking small profit tgt, 10pips
but not good results.
We wait for some details how you do it. time frame, what candles 1 hour?
  • #219
  • Jan 20, 2011 2:22am Jan 20, 2011 2:22am
hi，jiva34，can you tell me what are the rules in trading with your system？？
  • #220
  • Edited 3:32am Jan 20, 2011 2:22am | Edited 3:32am
away from trading desk for a while.
closed all EURUSD.
around 90 pips total.

This what is possible with this system. I want to be able to do this regularly and with no stress...

I am certain that understanding what is happening in the market place in terms of mkt openings and closings will make the difference.
Among other things of course.
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