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Profit All Day System

  • #941
  • Feb 9, 2011 10:55am Feb 9, 2011 10:55am
Quoting forex1962
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...
You work 18 hours a day? Jesus.

Ok, I give you an example and you will have to point at the right entry point. I'll attach screen in a minute.

Where would you enter Long here? Where would your SL and TP be? Does not have to be precise! I removed fractal. Do not try to search in MT4 for this trade, just look at the screen here. We ignore higher TM for the purpose of this exercise.
Save the screen and add SL, TP and Entry point, also mark relevant swings. Ignore pink line, it's pivot point or something.

And you can always post your losses and I would comment on it!!!
Attached Image
I found a penny today. That's +100 pips for me.
  • #942
  • Feb 9, 2011 11:01am Feb 9, 2011 11:01am
Quoting forex1962
To be honest I'm a bit dissappointed with this...


Every Pair moves on average a certain amount of pips per day, this calculation is called the ADR. If you are entering at a time when the current pip (hi/low) movement is close to the ADR then you want to exercise caution, the same goes for the current pip distance it has moved from the day open.

The overall premise is to know what the overall movement the pair has moved for the day in relation to the time you are entering.

So for example if a pair has a daily average of 121 pips and the pair has a high low of 109, then you may pass on the trade if the higher timeframe setup is looking weak.

Studying the ADR for the pairs you are trading is one way of gaining that situational awareness of where you are
Attached Image
  • #943
  • Feb 9, 2011 11:06am Feb 9, 2011 11:06am
Quoting Tread
Every Pair moves on average a certain amount of pips per day, this calculation is called the ADR. If you are entering at a time when the current pip (hi/low) movement is close to the ADR then you want to exercise caution, the same goes for the current pip distance it has moved from the day open.

The overall premise is to know what the overall movement the pair has moved for the day in relation to the time you are entering.

So for example if a pair has a daily average of 121 pips and the pair has a high low of 109, then you may pass on the trade...
Great point.
  • #944
  • Feb 9, 2011 11:10am Feb 9, 2011 11:10am
Quoting ReaM
You work 18 hours a day? Jesus.

Ok, I give you an example and you will have to point at the right entry point. I'll attach screen in a minute.

Where would you enter Long here? Where would your SL and TP be? Does not have to be precise! I removed fractal. Do not try to search in MT4 for this trade, just look at the screen here. We ignore higher TM for the purpose of this exercise.
Save the screen and add SL, TP and Entry point, also mark relevant swings. Ignore pink line, it's pivot point or something.

And you can always post your losses and I...
Thanks ReaM, the points arrowed look right to me but I'm not sure if the stops agrre with the 1 point difference rule? I would place the TP at half the stop - a few pips,
Attached Image
  • #945
  • Feb 9, 2011 11:13am Feb 9, 2011 11:13am
No,
none of these valid, because the first trade there was no high to break and the second entry was not 1 pips above previous high.

If you put limit buy order it would not be triggered. Search more^^.

Hint: it is better to enter lower so it can go higher. Look for a lower high.


Anyone took EU? I missed it totaly. GU was also a winner, also did not see it.
I found a penny today. That's +100 pips for me.
  • #946
  • Feb 9, 2011 11:18am Feb 9, 2011 11:18am
Quoting forex1962
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...

Speeking of red posts... lol.

Ok. I've seen this time and time again.
Just because someone says they have a good system and they have been profiting from it for a year does not mean that everyone trading the system will. There are so many systems out there that you can profit from. It's just hard to find the one that suits you best. Just because I say this system is good for me does not make it a winner all of you. You have to decide that for yourself.

I know it's a bad thing to jump from system to system but I did this for 3 years before I locked in with this system here. I do not think my 3 years of going from system to system was a weighst of time because I learned a lot about myself, forex, trading and what I needed to succeed. I wanted a system that fallowed price. I did not want indicators telling me what to do and where to enter This was what I kept searching for and never really found. Note, I still will look every once in a while at other systems when I get board or just want to make even more pips then I am now.

Again, I average 20-50 pips a day.

All I ask is give each system a valid chance to see if it works with you.

Todays stats so far.

70% 25 pips
30% 24 pips


cubby
  • #947
  • Feb 9, 2011 11:21am Feb 9, 2011 11:21am
Quoting ReaM
No,
none of these valid, because the first trade there was no high to break and the second entry was not 1 pips above previous high.

If you put limit buy order it would not be triggered. Search more^^.

Hint: it is better to enter lower so it can go higher. Look for a lower high.


Anyone took EU? I missed it totaly. GU was also a winner, also did not see it.
I think I need a rehash of the rules , so we have to have a swing high broken to enter on a next s/h then look back for the nearest valid s/l stop, the stop I marked I'm guessing is ok with the 1 pip difference as it looks pretty close.
I don't think I have a problem with the profit price as that seems pretty straightforward once you have the stop.
I'm looking at the blue candle for the stop, my arrows a bit too far left...
Attached Image
  • #948
  • Feb 9, 2011 11:24am Feb 9, 2011 11:24am
Quoting forex1962
I think I need a rehash of the rules , so we have to have a swing high broken to enter on a next s/h then look back for the nearest valid s/l stop, the stop I marked I'm guessing is ok with the 1 pip difference as it looks pretty close.
I don't think I have a problem with the profit price as that seems pretty straightforward once you have the stop.
I'm looking at the blue candle for the stop, my arrows a bit too far left...
Or here! but this doesn't look like a valid swing high as theres only 1 lower candle after the high
Attached Image
  • #949
  • Feb 9, 2011 11:25am Feb 9, 2011 11:25am
Quoting ReaM
No,
none of these valid, because the first trade there was no high to break and the second entry was not 1 pips above previous high.

If you put limit buy order it would not be triggered. Search more^^.

Hint: it is better to enter lower so it can go higher. Look for a lower high.


Anyone took EU? I missed it totaly. GU was also a winner, also did not see it.
Hi Ream,

Is this correct?

Actually I think I am worng there are 3 lower swing highs to this chart - 6th candle from right hand side is a lower low also.
Attached Image
  • #950
  • Feb 9, 2011 11:27am Feb 9, 2011 11:27am
Here another exercise:

Find a LONG trade entry and set SL.
Attached Image
I found a penny today. That's +100 pips for me.
  • #951
  • Feb 9, 2011 11:28am Feb 9, 2011 11:28am
Nope, both of you wrong.

None of you showed the right entry! Hint for the 1st exercise: look for lower high, so you can enter EARLY.
I found a penny today. That's +100 pips for me.
  • #952
  • Feb 9, 2011 11:33am Feb 9, 2011 11:33am
Quoting ReaM
You work 18 hours a day? Jesus.

Ok, I give you an example and you will have to point at the right entry point. I'll attach screen in a minute.

Where would you enter Long here? Where would your SL and TP be? Does not have to be precise! I removed fractal. Do not try to search in MT4 for this trade, just look at the screen here. We ignore higher TM for the purpose of this exercise.
Save the screen and add SL, TP and Entry point, also mark relevant swings. Ignore pink line, it's pivot point or something.

And you can always post your losses and...
How about this - I have fractal on my MT4 so woul dhave seen this lower high earlier.

Can you post where you would get in?
Attached Image
  • #953
  • Feb 9, 2011 11:34am Feb 9, 2011 11:34am
Quoting ReaM
Here another exercise:

Find a LONG trade entry and set SL.
The previous high hasn't been broken?
How does post 948 look?
Attached Image
  • #954
  • Feb 9, 2011 11:35am Feb 9, 2011 11:35am
Quoting ACartwright
How about this - I have fractal on my MT4 so woul dhave seen this lower high earlier.

Can you post where you would get in?
Yes! Right entry! Profitable. The last swing up there would have been a loss while this entry hits TP.
I found a penny today. That's +100 pips for me.
  • #955
  • Feb 9, 2011 11:37am Feb 9, 2011 11:37am
Correct?
Attached Image
  • #956
  • Feb 9, 2011 11:38am Feb 9, 2011 11:38am
Quoting forex1962
The previous high hasn't been broken?
How does post 948 look?

Look at the nearest high!

Rember: buy when it looks cheap and sell when it is more expensive. While the entry up there is somewhat correct, I would not take it. Look for earlier entry.

No, 948 is no good, and you explained it yourself why: there is no high there that has to be broken.
I found a penny today. That's +100 pips for me.
  • #957
  • Feb 9, 2011 11:46am Feb 9, 2011 11:46am
I not sure whose referring to what now, think I need a break, just before I go are you saying post 952 is correct as this doesn't seema valid s/h, yes it is isn't it thought that 1st red candle was higher.......
  • #958
  • Feb 9, 2011 11:53am Feb 9, 2011 11:53am
Correct ACartwright.


Here another two:

Find earliest possible entry on both screens.
(I must say all of these 4 screenshots are not perfect entries, ususally, there are better looking ones, but they are all valid and you can filter other bad entries very good with these screens)
Attached Images
I found a penny today. That's +100 pips for me.
  • #959
  • Feb 9, 2011 11:55am Feb 9, 2011 11:55am
Quoting forex1962
I not sure whose referring to what now, think I need a break, just before I go are you saying post 952 is correct as this doesn't seema valid s/h, yes it is isn't it thought that 1st red candle was higher.......
It must be 1 pip under the high, usually it looks right. I don't know how many pips that was, but it looks alright.

Here an entry from Cubby: http://www.forexfactory.com/showpost...&postcount=663
I found a penny today. That's +100 pips for me.
  • #960
  • Feb 9, 2011 11:56am Feb 9, 2011 11:56am
OK so if 955 is correct I can't see where the previous high was broken, I'm gonna have a go at your next 2 before i go!
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