Profit All Day System | Page 37 | 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

  • #721
  • Feb 7, 2011 6:35am Feb 7, 2011 6:35am
Quoting imran84
why have you got 71 pips stoploss last swing high is 1.35584 or am i missing something?
It looks like Ciscosmithy is trading the 15min/1 hr charts, hence the larger stop.
  • #722
  • Feb 7, 2011 7:01am Feb 7, 2011 7:01am
Quoting jon0
i hope it is right to see?
Your TP would have been hit!!! It was a winner! Nothing wrong with this trade.
I found a penny today. That's +100 pips for me.
  • #723
  • Feb 7, 2011 7:13am Feb 7, 2011 7:13am
Quoting ReaM
Your TP would have been hit!!! It was a winner! Nothing wrong with this trade.
No,it went down 3 pips befor
  • #724
  • Feb 7, 2011 7:18am Feb 7, 2011 7:18am
Quoting jon0
No,it went down 3 pips befor
Stoploss was about 27 pips, take profit 13 or 14 and it woud have been hit.

And if you are 3 pips away from from TP move your stop loss to break even where you placed order, otherwise you just see how this trade would go -40 pips against you.
I found a penny today. That's +100 pips for me.
  • #725
  • Feb 7, 2011 7:19am Feb 7, 2011 7:19am
hi this setup has latest formed on eur/usd 15min .moving averages were all gud on 1 hour and i have been stopped out on 15 min jus wana know is my understanding of this method is correct ?
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 134 KB
  • #726
  • Feb 7, 2011 7:25am Feb 7, 2011 7:25am
Quoting imran84
hi this setup has latest formed on eur/usd 15min .moving averages were all gud on 1 hour and i have been stopped out on 15 min jus wana know is my understanding of this method is correct ?

Yes, correct entry, I also was stopped out here, so no worries.

Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.

It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
I found a penny today. That's +100 pips for me.
  • #727
  • Feb 7, 2011 7:45am Feb 7, 2011 7:45am
Quoting ReaM
Yes, correct entry, I also was stopped out here, so no worries.

Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.

It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.

I had to write in on this trade because if this trade was taken on the 15 min timeframe instead of the 5 minute you would still be in this trade.

70 pips SL
TP 35 pips.

Make sure to take the higher time frame trade!
  • #728
  • Feb 7, 2011 7:59am Feb 7, 2011 7:59am
Quoting Cubbybgood
I had to write in on this trade because if this trade was taken on the 15 min timeframe instead of the 5 minute you would still be in this trade.

70 pips SL
TP 35 pips.

Make sure to take the higher time frame trade!
Good point!

edit: GU 15/60 setting up now (as well as 5/15).
  • #729
  • Feb 7, 2011 8:02am Feb 7, 2011 8:02am
Quoting ReaM
Yes, correct entry, I also was stopped out here, so no worries.

Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.

It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
thanks for ur help and yes that makes alot sense maybe it was too late to join the trend
  • #730
  • Edited 8:20am Feb 7, 2011 8:05am | Edited 8:20am
...as EU & GU appear to be correlated most of the time, wouldn't it be best just to focus on EU given the better spread?

edit: having said this, i guess it depends on the price action (one over the other) around signal time.
  • #731
  • Feb 7, 2011 8:10am Feb 7, 2011 8:10am
Quoting imran84
thanks for ur help and yes that makes alot sense maybe it was too late to join the trend


My last message for today. You guys need to stop over thinking this system. Really nobody knows how long a trend is going to go for.

A trend can go hundreds and hundreds of pips before it decides to turn around. Stop trying to analyse the trend and just trade the system.

over analysing the system could cause you not to take good trades.
  • #732
  • Feb 7, 2011 8:31am Feb 7, 2011 8:31am
EUR/USD got 12 pips profit from 70% and rest 30% still running SL adjusted to break even.
Attached Image
  • #733
  • Feb 7, 2011 9:02am Feb 7, 2011 9:02am
Hello everyone!

Great thread. Some may find this thread to be complementary - http://www.forexfactory.com/showthre...=232466&page=2

Good wishes!
  • #734
  • Edited 9:52am Feb 7, 2011 9:06am | Edited 9:52am
Quoting ReaM
Yes, correct entry, I also was stopped out here, so no worries.

Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.

It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
Hi guys,

Your stop loss is incorrect on this trade?

It should have been the last swing high.

The candle you point to as the stop loss does not have two lower highs proceeding it - therefore it is not a "swing high".

If you had placed it in the correct place you would have got to your tp level.
  • #735
  • Feb 7, 2011 9:51am Feb 7, 2011 9:51am
Quoting ACartwright
Hi guys,

Is your stop loss correct on this trade?

It should have been the last swing high.

Your stop loss is only the last swing taking into account the close of this indicating candle.
No the stoploss was the last swing low not high and it is about 24 pips
I found a penny today. That's +100 pips for me.
  • #736
  • Feb 7, 2011 9:54am Feb 7, 2011 9:54am
Quoting ReaM
No the stoploss was the last swing low not high and it is about 24 pips

...but it was a short trade, wasn't it?...shorts have stoplosses above swing highs.

edit: EU hrly now at potential support becomes resistance switch
  • #737
  • Feb 7, 2011 10:00am Feb 7, 2011 10:00am
Quoting sidefx
...but it was a short trade, wasn't it?...shorts have stoplosses above swing highs.
My point - trade was short so stop loss should be last swing high.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 63 KB
  • #738
  • Feb 7, 2011 10:16am Feb 7, 2011 10:16am
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.
  • #739
  • Feb 7, 2011 10:25am Feb 7, 2011 10:25am
Quoting forex1962
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.

Hi

If you have a look at the link I posted to the 123 thread, Paulus describes his method which pretty much eliminates this problem. He uses it simply as a reversal method, so you trade the first retrace which has much higher odds of success.

Hope this helps!
  • #740
  • Feb 7, 2011 10:27am Feb 7, 2011 10:27am
Quoting forex1962
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.
Totally agree!! you can't always use this strategy for every single set up you find during the day, especially on a Monday like this with low volatility. Always be cautious... however, still remains an excellent method
Ciao. Luca
0 traders viewing now