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Profit All Day System

  • #921
  • Feb 9, 2011 9:12am Feb 9, 2011 9:12am
Quoting ReaM
Anyone wants to post any good trades for today?

I just scalped the news very nicely )) I never went EU long as I am still afraid of the whipsaw.

My advice: to trade NY session only with this method.

Yes,

Here is mine.
TP 25 pips (70% hit and 30% still going)
SL 55 pips

This was a solid 1 hour trade on EU. I did not like the GU's price movement before EU break out so I did not trade it...at least not yet.
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  • #922
  • Feb 9, 2011 9:25am Feb 9, 2011 9:25am
Quoting Cubbybgood
Yes,

Here is mine.
TP 25 pips (70% hit and 30% still going)
SL 55 pips

This was a solid 1 hour trade on EU. I did not like the GU's price movement before EU break out so I did not trade it...at least not yet.

Cubbygood, quick question....when you leave your 30% riding....do you move your SL to b/e or just till the 3EMA crosses the 13EMA?

oh and also, i almost took that trade but the 4H chart looked a bit messy, price was barely over the EMAs and they were barely spaced apart...now they look good but i am saying when you entered.

thanks cubby!

ps great system!
  • #923
  • Feb 9, 2011 9:36am Feb 9, 2011 9:36am
Quoting Madness
Cubbygood, quick question....when you leave your 30% riding....do you move your SL to b/e or just till the 3EMA crosses the 13EMA?

oh and also, i almost took that trade but the 4H chart looked a bit messy, price was barely over the EMAs and they were barely spaced apart...now they look good but i am saying when you entered.

thanks cubby!

ps great system!
The spacing on the higher TF is always a judgment call. Again. I thought the spacing was decent. Not great but it was enough for me to take the trade from experience.

usually I will leave my trade in till swing level break on 15 min chart if my trade was executed on the 1 hour. If I executed trade on 15 min I wait for swing break or ema's to cross on the 5 minute before I exit. This is a good method and will almost always lock you in with good profit.

If I'm away from my comp I will set a SL at 2 pips below last swing level on the time frames mentioned above.

If you took a 1 hour trade and swing level on 15 min is below entry use the 5 minute swing levels....
  • #924
  • Feb 9, 2011 9:40am Feb 9, 2011 9:40am
Quoting Cubbybgood
The spacing on the higher TF is always a judgment call. Again. I thought the spacing was decent. Not great but it was enough for me to take the trade from experience.

usually I will leave my trade in till swing level break on 15 min chart if my trade was executed on the 1 hour. If I executed trade on 15 min I wait for swing break or ema's to cross on the 5 minute before I exit. This is a good method and will almost always lock you in with good profit.

If I'm away from my comp I will set a SL at 2 pips below last swing level on the time frames...
makes complete sense.

Looking at the 15M/1H combo right now...what do you think of the GBPUSD? Just want to make sure i am 'seeing' what you are seeing...kind of lol
  • #925
  • Feb 9, 2011 9:42am Feb 9, 2011 9:42am
Quoting ReaM
Anyone wants to post any good trades for today?

I just scalped the news very nicely )) I never went EU long as I am still afraid of the whipsaw.

My advice: to trade NY session only with this method.
Hi ReaM,

Are you saying that cubby's method should only be trade din the new york session?
  • #926
  • Feb 9, 2011 9:50am Feb 9, 2011 9:50am
Quoting ACartwright
Hi ReaM,

Are you saying that cubby's method should only be trade din the new york session?
It was his recommendation! I also think that, since if you backtest the system, there is nothing beautiful going on before NY open. London open is always crazy, up and down.

Middle of Asian sess looks good too, but I sleep there, and it would be too slow for me (and not as many set ups as during NY
I found a penny today. That's +100 pips for me.
  • #927
  • Feb 9, 2011 9:53am Feb 9, 2011 9:53am
Quoting ReaM
It was his recommendation! I also think that, since if you backtest the system, there is nothing beautiful going on before NY open. London open is always crazy, up and down.

Middle of Asian sess looks good to, but I sleep there, and it would be too slow for me.
With all due respect, that's rubbish!

Cubby recommended trading NY because he lives in the US. There is usually one decent move per pair during London. You just have be careful to avoid the fake provided by Frankie.
  • #928
  • Feb 9, 2011 9:55am Feb 9, 2011 9:55am
Quoting Delite
With all due respect, that's rubbish!

Cubby recommended trading NY because he lives in the US. There is usually one decent move per pair during London. You just have be careful to avoid the fake provided by Frankie.
I don't agree, this strategy is not for London. I better scalp London. It works for me.

You can look at the last couple of days, there are many many fake outs. Not worth risking.
By the way, most of the losses in my backtesting were during London!
I found a penny today. That's +100 pips for me.
  • #929
  • Feb 9, 2011 9:59am Feb 9, 2011 9:59am
Quoting ReaM
I don't agree, this strategy is not for London. I better scalp London. It works for me.

You can look at the last couple of days, there are many many fake outs. Not worth risking.
By the way, most of the losses in my backtesting were during London!

That's fine - it it works for you, but please don't put off others from trading London using this/123 system, because I can assure you it works well. Today was horrible, granted, but even in the choppy pre NFP mornings last week a decent amount of pips were made with no change to the strategy.

Where in the States are you, by the way? Are you under snow or snjoying sun?!
  • #930
  • Feb 9, 2011 10:00am Feb 9, 2011 10:00am
anyone watching the 15M/1HR charts for most of the pairs...anyone putting in limit orders?

GU EU and USDCHF looking good...but how do you decide which pair to put the orders in...ummmmm *takes out a quarter to flip lol
  • #931
  • Feb 9, 2011 10:06am Feb 9, 2011 10:06am
Quoting Delite
That's fine - it it works for you, but please don't put off others from trading London using this/123 system, because I can assure you it works well. Today was horrible, granted, but even in the choppy pre NFP mornings last week a decent amount of pips were made with no change to the strategy.

Where in the States are you, by the way? Are you under snow or snjoying sun?!
This strat requires sort of a bounce. London usually does not have it. It jus starts going one way then it stops. Yes it's a good move. Noone is trying to make people skip London.
You can read through this thread, most of the bad trades are during London.

Most cannot see the difference, they place the trade whenever they see rules met and that's when they loose.

Last Friday before NFP everyone had a loss, by the way

Of course sometimes London looks like NY and NY as London, but when I am drunk, any woman looks to me prettier.
I found a penny today. That's +100 pips for me.
  • #932
  • Feb 9, 2011 10:13am Feb 9, 2011 10:13am
Quoting ReaM
This strat requires sort of a bounce. London usually does not have it. It jus starts going one way then it stops. Yes it's a good move. Noone is trying to make people skip London.
You can read through this thread, most of the bad trades are during London.

Most cannot see the difference, they place the trade whenever they see rules met and that's when they loose.

Last Friday before NFP everyone had a loss, by the way

Of course sometimes London looks like NY and NY as London, but when I am drunk, any woman looks to me prettier.
"Most cannot see the difference, they place the trade whenever they see rules met and that's when they loose."

I thought that was the whole point to the strategy.

When rules are met you place the trade or am I missing something?
  • #933
  • Feb 9, 2011 10:15am Feb 9, 2011 10:15am
Still disagree!!

EU Chart from yesterday morning.

Anyway its what works for each of us thats important!

All the best.
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  • #934
  • Feb 9, 2011 10:18am Feb 9, 2011 10:18am
anyone noticing audusd 15M/1HR short opportunity coming up?
  • #935
  • Feb 9, 2011 10:19am Feb 9, 2011 10:19am
Quoting Delite
Still disagree!!

EU Chart from yesterday morning.

Anyway its what works for each of us thats important!

All the best.
The chart you post does not have one item on it that resembles cubbys system.

Apart from candletsticks and some swing highs and swing lows.
  • #936
  • Feb 9, 2011 10:21am Feb 9, 2011 10:21am
Quoting ACartwright
The chart you post does not have one item on it that resembles cubbys system.

Apart from candletsticks and some swing highs and swing lows.
Yes it does. They are both 123 pattern. I have other bits on because they are what works for me. Ignore them. The basic pattern is the same.
  • #937
  • Feb 9, 2011 10:38am Feb 9, 2011 10:38am
Quoting Delite
Still disagree!!

EU Chart from yesterday morning.

Anyway its what works for each of us thats important!

All the best.
Do you see that top on the left on your screenshot? That was a loser with all conditions met and someone took that trade!
I did not take it, because it was simply too late in trend after many set ups, but there you go.

It could have been a winner, but rules of this strat are not that simple. Maybe 5 pages ago or so Cubby showed a screen of what top to use to enter and where to place stoploss. Someone who did not read the thread would have been stopped out.

I too use 200EMA as you suggested, thank you for that.

That short by the way did not meet the criteria on higher TF, I saw it live and EMAs on M15 were just crossing.

After that there was one ok trade long and then again one fake out!
I found a penny today. That's +100 pips for me.
  • #938
  • Feb 9, 2011 10:45am Feb 9, 2011 10:45am
Quoting ReaM
Do you see that top on the left on your screenshot? That was a loser with all conditions met and someone took that trade!
I did not take it, because it was simply too late in trend after many set ups, but there you go.
This is where those discretionary elements come in. Start your 123 count from 7am GMT and try to look for a reversal setup - so if Asia has been trending up (as in this case) you are looking for a short setup. This way you don't enter on the last wave of a trend prior to it changing ie those losing trades you mentioned.

I understand I may be taking this thread off topic, so I'll probably leave it there, I just wanted to show you that London can be and is profitable and that by trying to think about when in the trend you are placing your trades, your successes will increase.

All the best.
  • #939
  • Feb 9, 2011 10:49am Feb 9, 2011 10:49am
To be honest I'm a bit dissappointed with this now, most of you guys seem experienced traders and have a good knowledge of what you're doing, I've only been in the game a few months and although working 18 hours a day still seem way behind.
I find it so hard to correctly analyse the right entry points, logic tells me it has to be at the begining of a trend, but time and again when I check all the signals and everything is telling me to enter I get stopped out.
I don't want to jump from system to system as I know thats counterproductive but it does all get pretty frustrating when you think you're doing everything right but it doesn't work.
Sorry rant over!
  • #940
  • Feb 9, 2011 10:50am Feb 9, 2011 10:50am
Thank you,

yeah good, I will look into that, I turn on my pc ten minutes before 7am GMT every day.

Thank you for your contribution.


There is a lot of confusing things in this thread, for which I am also responsible somewhat.

Whoever wants to learn this system I am pretty sure he wont skip those RED posts by Cubby^^

I am today -0.3%, I think it is good, could be worse. 1 good win 1 loss (that I thankfully got out earlier). Yesterday was 2.3% in plus.

I need at least ten weeks "mastering" this here, so I hope you will help us here. So, no need to stop writing...
I found a penny today. That's +100 pips for me.
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