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Profit All Day System

  • #361
  • Feb 3, 2011 9:13am Feb 3, 2011 9:13am
Quoting Cubbybgood
I'm very glad you noticed this. I go to sleep at about 12 pm EST. Because of this I could not watch my trade to remove 70% of it when TP was hit So I just set my TP for 100% of the trade. I did actually leave it in on the demo I have running this week for you guys.

Cubbybgood.mt4live.com

What a trading day with the news so far!!!!
I've locked in some good pips and my 30%'s are going crazy!
Hi Cubby, I've tried just about every system known to man, but I think this one really does seem a goer, was the attached a good trade?
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  • #362
  • Feb 3, 2011 9:19am Feb 3, 2011 9:19am
Quoting forex1962
Hi Cubby, I've tried just about every system known to man, but I think this one really does seem a goer, was the attached a good trade?

I think your SL should be lower. My SL was 22 pips and TP 10. This is the safer bet. Yeah, the Swing level you picked is stronger but the one I have is still a swing level and it's safer for a sure profit.

Here's a pic
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  • #363
  • Feb 3, 2011 9:25am Feb 3, 2011 9:25am
Quoting BLACKFEET
Would it be possible to display the spread between the HH and the LL ?
Will add ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #364
  • Feb 3, 2011 9:30am Feb 3, 2011 9:30am
Quoting Cubbybgood
I think your SL should be lower. My SL was 22 pips and TP 10. This is the safer bet. Yeah, the Swing level you picked is stronger but the one I have is still a swing level and it's safer for a sure profit.

Here's a pic
Suppose you see a swing low and prepare for an entry but then you get a subsequent swing high, but all the signals are still looking good for a short entry, would the swing high after your swing low break point be the stop loss, or would you not take the trade or would you stick to the swing high before as a stop loss?
Confused, I am?!?
  • #365
  • Feb 3, 2011 9:30am Feb 3, 2011 9:30am
Quoting forex1962
Hi Cubby, I've tried just about every system known to man, but I think this one really does seem a goer, was the attached a good trade?

I have tried many as well. Stick to this one. Guaranty that you'll thank yourself later.

Remember, if you have a bad day do not jump to another system just because you have one, maybe 2 losers. This will not get you anywhere in forex. If you want to succeed stick to this system risking no more the 5% of your account per trade. I recommend 3% as max if you are just starting out.

I've never had more then 2 losing trades per pair in a row on my live account why?

Because I risk 3% per trade and I pick my trades wisely while making sure I dont over trade.
  • #366
  • Feb 3, 2011 9:34am Feb 3, 2011 9:34am
Quoting forex1962
Suppose you see a swing low and prepare for an entry but then you get a subsequent swing high, but all the signals are still looking good for a short entry, would the swing high after your swing low break point be the stop loss, or would you not take the trade or would you stick to the swing high before as a stop loss?
Confused, I am?!?

As long as the higher time frame is saying that there is a down trend you take all swing breaks on the lower time frame.

Where to accurately define where the swing levels are for SL takes practice. Make sure you keep taking pics if you have questions.
  • #367
  • Feb 3, 2011 9:37am Feb 3, 2011 9:37am
posting a new break for the newbs to see where to put SL

red bars are swing levels
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  • #368
  • Feb 3, 2011 9:38am Feb 3, 2011 9:38am
Will it happen?

red bars are swing levels
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  • #369
  • Feb 3, 2011 9:49am Feb 3, 2011 9:49am
Quoting Cubbybgood
Will it happen?

red bars are swing levels
i was happy to take the remaining 30% off on the 5min 123 break long, as this is also around today's S1 pivot and today's ADR is looking quite stretched now and ready for a retrace.
  • #370
  • Feb 3, 2011 9:51am Feb 3, 2011 9:51am
This is actually not a very good swing level. It may hold but entry swing level was week why? Because it was only.02 pips swing low. Remember it has to be at least 1 full pip in order to be a good swing level?

This is not a great entry.

I stand corrected...
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  • #371
  • Feb 3, 2011 9:52am Feb 3, 2011 9:52am
Quoting Cubbybgood
As long as the higher time frame is saying that there is a down trend you take all swing breaks on the lower time frame.

Where to accurately define where the swing levels are for SL takes practice. Make sure you keep taking pics if you have questions.
Thanks for your patience Cubby, I probably didn't expalin very well, if you were looking at a short trade and had your entry point figured and had taken the previous swing high as your sl, if there was a blip and you had a new swing high before your entry point was reached, would you use this as a new sl?
  • #372
  • Feb 3, 2011 9:56am Feb 3, 2011 9:56am
Quoting sidefx
i was happy to take the remaining 30% off on the 5min 123 break long, as this is also around today's S1 pivot and today's ADR is looking quite stretched now and ready for a retrace.

I'm telling ya, you should not do this. I used to!

Many many of my trades kept going causing me to lose out on hundreds of pips before I realized the problem. I removed pivot points all together because they were just not reliable with this system.

Just use the 3 and 5 ema crossing back on the 13 as your exit. This really is your safest bet. You'll notice alot of times that 3 and 5 bounce of the 13 and then the trend contenues....
  • #373
  • Feb 3, 2011 10:00am Feb 3, 2011 10:00am
Quoting Cubbybgood
I'm telling ya, you should not do this. I used to!

Many many of my trades kept going causing me to lose out on hundreds of pips before I realized the problem. I removed pivot points all together because they were just not reliable with this system.

Just use the 3 and 5 ema crossing back on the 13 as your exit. This really is your safest bet. You'll notice alot of times that 3 and 5 bounce of the 13 and then the trend contenues....
Many thanks for your advice, Cubby.
  • #374
  • Feb 3, 2011 10:02am Feb 3, 2011 10:02am
Quoting forex1962
Thanks for your patience Cubby, I probably didn't expalin very well, if you were looking at a short trade and had your entry point figured and had taken the previous swing high as your sl, if there was a blip and you had a new swing high before your entry point was reached, would you use this as a new sl?

I understand now. good question!

The answer is yes! You would take the new swing high as your SL but make sure that trend checks out on the higher time frame!

Some times when this scenario happens the trend is no longer intact so it's important to check.
  • #375
  • Feb 3, 2011 10:04am Feb 3, 2011 10:04am
Quoting Cubbybgood
I understand now. good question!

The answer is yes! You would take the new swing high as your SL but make sure that trend checks out on the higher time frame!

Some times with this scenario happens the trend is no longer intact so it's important to check.
Great, thank you, with your picture I don't get how you get the stop loss, I've arrowed where I thought it went at the previous swing high?
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  • #376
  • Feb 3, 2011 10:06am Feb 3, 2011 10:06am
Quoting forex1962
Great, thank you, with your picture I don't get how you get the stop loss, I've arrowed where I thought it went at the previous swing high?

Not sure if I fully understand what you are saying.

Ignore my green sell line. that the remaining 30% I have in from the previous swing levels.
  • #377
  • Feb 3, 2011 10:09am Feb 3, 2011 10:09am
Quoting forex1962
Thanks for your patience Cubby, I probably didn't expalin very well, if you were looking at a short trade and had your entry point figured and had taken the previous swing high as your sl, if there was a blip and you had a new swing high before your entry point was reached, would you use this as a new sl?

pic answer to your question!

Haha.
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  • #378
  • Feb 3, 2011 10:12am Feb 3, 2011 10:12am
Cubby,
How long have you been trading this system.
  • #379
  • Feb 3, 2011 10:15am Feb 3, 2011 10:15am
Quoting Cubbybgood
pic answer to your question!

Haha.

...and re the validity of waiting for the emas to cross before taking the final 30%! Nice one.
  • #380
  • Feb 3, 2011 10:29am Feb 3, 2011 10:29am
Another way to manage your TP on the 30%.

Use swing levels as shown in the pic. This isn't a strong swing level but I want to protect my profit.
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