Profit All Day System | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA "Close all positions at profit target" closed all positions at loss ? 9 replies

Simple scalping system, all red or all green 101 replies

Day Trading system - Simple system to make money 51 replies

Profit All Day with Retracement - EA development 42 replies

Looking for EA to close all Buy Or all Sell trades when in profit 0 replies

Attachments: Profit All Day System
Exit Attachments

Profit All Day System

  • #81
  • Jan 25, 2011 9:41am Jan 25, 2011 9:41am
Quoting Shanexx
Speak of the devil, a trade happened on EU to explain what I was saying about the 10 pip BE.

Attachment

wow, you nailed it. good hit!

yeah, I wonder if the 10 pip break even is a good long term strat...
  • #82
  • Jan 25, 2011 9:48am Jan 25, 2011 9:48am
Thanks for this thread

I use "KG support and resistance" for HH ang LL
  • #83
  • Jan 25, 2011 9:54am Jan 25, 2011 9:54am
anybody take this set up?

looks good. only 8 pip profit though....
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.gif Size: 26 KB
  • #84
  • Jan 25, 2011 10:10am Jan 25, 2011 10:10am
No, I didn't take the long there, I was concerned about the previous highs.
I shorted the 5m range breakout for 5 pips, but for now will watch the price as it takes either side of this area.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 15m.jpg Size: 58 KB
  • #85
  • Jan 25, 2011 10:19am Jan 25, 2011 10:19am
The ride up was short lived, now watching the 15m for rejection of the move down and a long setup, not sure just yet, but have my ideas.

I had 2 shorts in the move, should have taken much more.

Note: It is easier taking the 5m shorts then thinking of longs at this point.
I will watch for the next 30 minutes, until this hour closes, then start taking more setups on the NY trend.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 15m.jpg Size: 59 KB
  • #86
  • Jan 25, 2011 10:30am Jan 25, 2011 10:30am
Quoting monarch
The ride up was short lived, now watching the 15m for rejection of the move down and a long setup, not sure just yet, but have my ideas.

I had 2 shorts in the move, should have taken much more.

Note: It is easier taking the 5m shorts then thinking of longs at this point.
I will watch for the next 30 minutes, until this hour closes, then start taking more setups on the NY trend.

yeah, some crazy stuff goin on today....
  • #87
  • Jan 25, 2011 10:45am Jan 25, 2011 10:45am
Quoting Cubbybgood
yeah, some crazy stuff goin on today....
The London boys rode it high, they left, and NY dropped it back.

Big moves for sure, I am wondering if will get another long setup here... you?
  • #88
  • Jan 25, 2011 10:45am Jan 25, 2011 10:45am
Cubby, thanks for sharing this, it's an interesting approach to mechanising 123s and for budding 'naked' traders, a useful set of stabalisers cheers.
  • #89
  • Jan 25, 2011 11:19am Jan 25, 2011 11:19am
UJ looks ready to go the systems way.

Attached Image (click to enlarge)
Click to Enlarge Name: profit all day system3.gif Size: 22 KB
  • #90
  • Jan 25, 2011 11:24am Jan 25, 2011 11:24am
Quoting shanexx
uj looks ready to go the systems way.

Attachment

you have a perfect trade here.
  • #91
  • Jan 25, 2011 11:37am Jan 25, 2011 11:37am
It is really a simple and clear system to use! Thank you for refering

Quoting Cubbybgood
PLEASE READ ALL OF THIS POST BEFORE TRADING!!!!!!

The only system one could ever want or truly need is right here.
I was taught this system from a friend of mine with a lot of forex knowledge.

I have a few threads on FF sharing with you a couple of my custom systems but this one here is the real deal. There's no custom or tricky indicators that repaint. Everything is already included in your platform. This is the system I use for my live trading and believe I always will. My custom systems are good but just don't...
  • #92
  • Jan 25, 2011 12:04pm Jan 25, 2011 12:04pm
Quoting whatfx
cubby

is the setting on cci to the 'close' or 'open'.

some points :

say if a candle was to be the highest high. it must have two candles before and after it, that are below it. right ? what if the candles below it are only below by lets say just 1 pip. does that still count ? if not how many pips below must they be at least ?

what if the candles below are actually dojis ? or at least one of them is a doji. would that be ok still ?


there was a long trade today on EU on my alpari chart at 12.30. it broke the last swing high, which was about...
Hi whatfx,

The CCI is set to Typical Price {HLC/3} I think I see the trade you took for a 38 pip loss. Ouch, those hurt. Here's a few pointers on that trade. Once you entered the trade, if the price goes against you on your 5min. chart and the 3&5 Emas cross back down the 13, close the trade immediately, don't wait for it to hit your stop loss.

Most of the time when a cross happens in the opposite direction, you'll get out before the stop loss is hit. It'll still be a loss but not as bad.

Also I'm wondering if you saw the 3&5 cross the 13 on the 15 min. chart, then switched to the 5min. and entered right away. If so ,that's not a good idea, and here's why.

This is a trend following system so the higher time frame shows trend direction and the smaller time frame gives an entry on the pull back in the trend direction, { Buy the Dips & Sell the Rallies} That's why we wait for the 3&5 to cross the 13 on the 5 min. and the CCI to be over/under 90, THEN check the 15 min. chart to confirm the 3&5 have already crossed the 13.

The reason we wait to enter on the break of the most recent swing high {Long Trade} is because this previous swing high is where the pull back started happening on the 15 min. chart. If you missed the entry on the 5min. wait for the next pull back giving you another swing high on the 5min. or wait for the 3&5 to bounce off of the 13 Ema and break it's most recent swing high again.

Another thing to remember is that on average the intra day swings on the smaller time frames { 5Min. to H1 } is 30 to 60 pips pretty much across the board for all pairs. Once or twice a day you'll see big swing moves of 70 pips or higher, but on average 30 to 60 is the norm. On the trade you took, the Euro had already moved close to 60 pips from the swing low to the swing high on the 15 min. chart, so that swing had exhausted itself. It was risky to enter there.

When you check the 15 min. chart for confirmation look for upward angle on the 5 Ema over the 13. If it's flat or parallel over the 13 Ema, it's showing momentum has slowed down and it's probably better to pass on the trade and look at another pair.

I hope this explanation helps you out! .....T-Wolf
  • #93
  • Jan 25, 2011 12:25pm Jan 25, 2011 12:25pm
Quoting Shanexx
UJ looks ready to go the systems way.

Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: profit all day system4.gif Size: 21 KB
  • #94
  • Edited 6:14pm Jan 25, 2011 6:02pm | Edited 6:14pm
I recommend.. only taking the 5 min trades when the 15 min
cci is also above/below 90... if you need higher hit rates
over number of trades a day.. easy thing to do

and second..make sure its the first time in the 15 min
trend you are taking the 5 min entry.. unless
price has come back and bounced on the
13.. ie a full retrace to the 13 before another entry
in the same 15 min trend. Common sense?
Yes but not for newbies.

Oh and ignore big candles..when you have an abnormally large candle
setting up your trade..leave it alone.. its not worth the additional
risk.


Brian
  • #95
  • Jan 25, 2011 6:47pm Jan 25, 2011 6:47pm
Based on the 15m chart, pressure is downwards so far this hour, if there were moves up, it would grab some shorts within the retrace level, I have shorted 3 times in this move so far, and have other areas I would take shorts that are not even on this chart.

To me, 2 candles down, 1 or 2 mild consolidation, then another drop down.

New hour bar in 13 minutes.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 15m.jpg Size: 47 KB
  • #96
  • Jan 25, 2011 7:02pm Jan 25, 2011 7:02pm
It rose as expected, I took a short in response and rode it to the previous low and exited before the New Hour Bar, I prefer clearing profits before new hours.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: EU short 15m.jpg Size: 75 KB
  • #97
  • Jan 25, 2011 7:19pm Jan 25, 2011 7:19pm
Quoting N2FX
It rose as expected, I took a short in response and rode it to the previous low and exited before the New Hour Bar, I prefer clearing profits before new hours.

Cheers.


Hey N2FX,
Nice to see you on the thread.

So have you been trading this method or are you using a variation?

If you have been using it can you share your thoughts?
  • #98
  • Jan 25, 2011 9:16pm Jan 25, 2011 9:16pm
Good evening.

I am working on this system with a few variations, which we talked of over the weekend.
I am doing live testing with real money, keeping the overall rules to entry and exit as per our last conversation.
Typically by the time the signal triggers on the 15min chart, I am already in or already cleared my 5min trade profits.
I hope to continue working on this for the remainder of January, then I believe I will be prepared to take full trades based on the 15min signals.

Good trading to you.
  • #99
  • Jan 25, 2011 9:36pm Jan 25, 2011 9:36pm
Quoting Maxwell11
First off I must say much props to you Cubby for sharing this simple system in the pics you'll see I only added the ma angle mq4 and 62 visually just to see the big trend,also I always trade with the 34ema rainbow,I heard it's based on volatility,everything else is you!


I wanted to point out that I heard somewhere the gbp/nzd is the most volatile pair in the whole market,even more so than the gbp/jpy this pic my just prove that,Cubby,if you would have put this system out last week you could have set us up easy to ride out this beautiful pattern/move...
I know exactly what you're talking about. about once or twice a week I'll take 1 hour trade. Last week I had a 45 pip 1 hour trade and a 52 pip 1 hour.

When I was taught this system I was told that the higher the time frame the higher the win %.

I just like trading on the 5 and 15 min because I don't like waiting for a set up but sometimes as mentioned above they do come and I will take them.
  • #100
  • Jan 25, 2011 9:38pm Jan 25, 2011 9:38pm
expect a 50 pip move up at least tonight guys. This trade is actualy still good on the 1 hour....

Attached Image (click to enlarge)
Click to Enlarge Name: pic1.gif Size: 27 KB
0 traders viewing now