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Ronnierott's 1 Hour Strategy

  • #101
  • Feb 24, 2011 5:14am Feb 24, 2011 5:14am
Quoting triptizine
The logic is solid, so a EA should also be solid.

Great Indicator btw!
Not yet great needs to be fixed first
  • #102
  • Feb 24, 2011 5:15am Feb 24, 2011 5:15am
Quoting ronnierott
For me it would be a no.

Reason being............. I prefer to see the MA on the MACD in the coloured area a bit more than what it is.

Again, it's all about comfort zone.
Page 1, post 6: you took that USDCHF trade when the MACD EMA was in the same area (close to the MACD). What was the difference (comfort) between that trade and this one?
  • #103
  • Feb 24, 2011 5:20am Feb 24, 2011 5:20am
Quoting the-game
Page 1, post 6: you took that USDCHF trade when the MACD EMA was in the same area (close to the MACD). What was the difference (comfort) between that trade and this one?

The USD/CHF trade yesterday was fractionally better than todays EUR/USD setup (Not by much at all though).............. In my opinion
  • #104
  • Feb 24, 2011 5:38am Feb 24, 2011 5:38am
Quoting ronnierott
The USD/CHF trade yesterday was fractionally better than todays EUR/USD setup (Not by much at all though).............. In my opinion
Could you be a bit clearer... For example, would you say it was fractionally better because that USDCHF trade did not pierce through the channel before setting up?
  • #105
  • Feb 24, 2011 6:10am Feb 24, 2011 6:10am
Thanks for publishing, I love the simplicity and looking back it works a treat. I look forward to using it.
  • #106
  • Feb 24, 2011 6:37am Feb 24, 2011 6:37am
Quoting the-game
Could you be a bit clearer... For example, would you say it was fractionally better because that USDCHF trade did not pierce through the channel before setting up?

Both charts attached. You're probably right, but then we get into the realms of price action.

EUR/USD is abit more ugly than the USD/CHF though
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen6.jpg Size: 132 KB
Click to Enlarge Name: screen7.jpg Size: 147 KB
  • #107
  • Feb 24, 2011 6:43am Feb 24, 2011 6:43am
EU setting up, close to the edge though, may reduce stake
  • #108
  • Feb 24, 2011 6:46am Feb 24, 2011 6:46am
Quoting triptizine
From a visual backtest over the last 2 weeks it looks good. I wont get a chance to EA this until maybe tomorrow night. But I should be able too

Great Thread so far!

Ok just need to firm up some of these rules and then we can rock and roll. I have a hr now, so I might see what I can do.

RULE 1. The MACD has to be the right colour for the direction of the trade and the MACD MA must be within the coloured area. (See image below) - Check

RULE 2. [color=black]When the price...


Rule 2............. The candle that touches is the setup candle. Wait for it to close before checking the criteria ie, distance from 15 EMA etc


Rule 3............. Define very close?? I do it visually, but after going back over the charts then I would say that the 15 EMA needs to be away from the relevant 50 EMA by about 6 pips.


Hope this helps
  • #109
  • Feb 24, 2011 6:50am Feb 24, 2011 6:50am
Quoting stricky1967
EU setting up, close to the edge though, may reduce stake

yup, MACD doesnt look nice, according to ronnierott
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 151 KB
  • #110
  • Feb 24, 2011 7:01am Feb 24, 2011 7:01am
EU order long set at 13790
  • #111
  • Feb 24, 2011 7:02am Feb 24, 2011 7:02am
Quoting kedridder
yup, MACD doesnt look nice, according to ronnierott

Looks better now that the candle has closed.

Buystop 1.3793
  • #112
  • Feb 24, 2011 7:08am Feb 24, 2011 7:08am
Quoting ronnierott
Looks better now that the candle has closed.

Buystop 1.3793

yup, my order for Long is set at 1.3791
  • #113
  • Feb 24, 2011 7:15am Feb 24, 2011 7:15am
Quoting kedridder
yup, my order for Long is set at 1.3791

Just remember that if order doesn't get triggered and a candle CLOSES below 15 EMA........... Cancel order and wait for next setup.
  • #114
  • Feb 24, 2011 7:18am Feb 24, 2011 7:18am
Quoting ronnierott
Just remember that if order doesn't get triggered and a candle CLOSES below 15 EMA........... Cancel order and wait for next setup.

what if we get the next candle above 15EMA but order not triggered within that 1 hr candle, do we still cancel order?
  • #115
  • Feb 24, 2011 7:19am Feb 24, 2011 7:19am
Quoting ronnierott
Just remember that if order doesn't get triggered and a candle CLOSES below 15 EMA........... Cancel order and wait for next setup.

got it! thanks for e reminder
  • #116
  • Feb 24, 2011 7:21am Feb 24, 2011 7:21am
Quoting stricky1967
what if we get the next candle above 15EMA but order not triggered within that 1 hr candle, do we still cancel order?


No.

Leave order until either:-

a) Order gets triggered

OR

b) Candle CLOSES below 15 EMA

So screen time is basically a quick look on the hour
  • #117
  • Feb 24, 2011 7:22am Feb 24, 2011 7:22am
Quoting ronnierott
No.

Leave order until either:-

a) Order gets triggered

OR

b) Candle CLOSES below 15 EMA

So screen time is basically a quick look on the hour

cool ,thanks
  • #118
  • Feb 24, 2011 9:08am Feb 24, 2011 9:08am
Ronnierott, lets say this is EURUSD, will u execute a sell stop @112.45?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.jpg Size: 136 KB
  • #119
  • Feb 24, 2011 9:12am Feb 24, 2011 9:12am
I believe so all the rules are met!!

The candle after has closedd below the 15 ema...

My only doubt is the 15 ema is near trhe channel!!

Correct me if I am wrong
Patience and peserverance determine the outcome in any aspect of life.
  • #120
  • Feb 24, 2011 9:23am Feb 24, 2011 9:23am
I would be careful selling into 112.45 - look to the left, this was the start of a strong demand bar. The cycle has now completed and if at all I might look for buy scenarios.

However, the eurjpy is trying to catch up with a strong eurusd - this proves difficult, as we have a strong Yen in times of crisis ( Libyia etc. ).

Wait and see is sometimes a position.

Hope that helps.



___________
michael
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-24_1615_eurjpy.png Size: 270 KB
Be like water.
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