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Ronnierott's 1 Hour Strategy

  • #201
  • Feb 25, 2011 1:43pm Feb 25, 2011 1:43pm
Quoting msmarple
kedridder,

Normally I hate it if in a new thread people start modifying the original template immediately, but this is just what I thought might keep it simple and enable me to switch to 15min or 4h without 1000 new lines and indicators having to readjust.

Lawgirl`s Trenddisplay has just proven to be a great momentum indicator - we all know that sometimes we have classic candlestick or price action formations like engulfing bars, pinbars, hammers etc., expect a follow through,.... only seeing that there is less strength behind the move...
Yes just about to edit my post , with this sentiment, don't wander too far from the original
  • #202
  • Feb 25, 2011 2:01pm Feb 25, 2011 2:01pm
Quoting msmarple
kedridder,

Normally I hate it if in a new thread people start modifying the original template immediately, but this is just what I thought might keep it simple and enable me to switch to 15min or 4h without 1000 new lines and indicators having to readjust.

Lawgirl`s Trenddisplay has just proven to be a great momentum indicator - we all know that sometimes we have classic candlestick or price action formations like engulfing bars, pinbars, hammers etc., expect a follow through,.... only seeing that there is less strength behind the move...

All feedback is very much appreciated.....

Any comments for improvement would never go amiss.

The Forex is a beast that will never be tamed, but if ideas can come together and give an edge and put probability on our side then there will be alot of happy faces.

Have a good weekend all.
  • #203
  • Feb 25, 2011 2:11pm Feb 25, 2011 2:11pm
You too ronnie, thank you !

The great thing about the 1h is that the whole world is seeing the same candles and charts,... and everyone can then decide if they want to switch to 15min or higher timeframes.

I am very much low risk......

BTW : usdcad @ almost never before seen lows. It is NOT the time of day I want to trade, just pointing to the really extraordinary lows in usdcad, usdchf and usdjpy.

Cheers & till next week,



___________
michael
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-25_2103_usdcad_1h.jpg Size: 177 KB
Be like water.
  • #204
  • Feb 25, 2011 2:15pm Feb 25, 2011 2:15pm
Quoting stricky1967
Yes just about to edit my post , with this sentiment, don't wander too far from the original
Yep, exactly.... !

Thank you.



_________
michael
Be like water.
  • #205
  • Edited 3:12pm Feb 25, 2011 2:24pm | Edited 3:12pm
Good weekend all
Ready for next week

Oh by the way , I took the signal as per the ronnnie system for the sheer hell of it on USDCAD and I am in the green , Triggered at 20.01CET, I know there wont be any legs on it its just that I will sleep better knowing I finished on a high note


present for the weekend, just put it on a blank chart (except for foreground) and watch the profit being made by the ronnierott baboon
Attached File(s)
File Type: mq4 i-Profittracker.mq4   17 KB | 457 downloads
  • #206
  • Feb 25, 2011 2:57pm Feb 25, 2011 2:57pm
Here is a thread that was the origin of the "Black Dog" that I believe then evolved into the current commercial system. Some of you smarties may be able to glean an insight or two.

http://www.forexfactory.com/showthread.php?t=82484
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #207
  • Feb 25, 2011 5:09pm Feb 25, 2011 5:09pm
Thank you fxhermit, very interesting. Actually I bought the commercial system about 2 years ago. However, although the system was somehow safe and low-risk, I had late entries. I was too focused on the arrows and then noticed that I had better entries if I follow price action and keep mindful of stop-hunt levels. But to each his/her own.

BTW : do you know if Bluemental is still present somewhere ? I enjoyed your posts at the BigMac thread very much - your knowledge about Pitchforks, Swing trading and combining multiple timeframes was very helpful and educational.



Cheers,


________
michael
Be like water.
  • #208
  • Feb 25, 2011 6:20pm Feb 25, 2011 6:20pm
Quoting kedridder
fantastic! u add on a few stuff, yet still does not look too messy.
it's coming to market closing, hope u have a great weekend!

btw, can u email me e market price indi for easy visual pls, Michael? Thank u!
You may find this indicator useful for displaying the current price and market data
Attached File(s)
File Type: ex4 MarketData.ex4   21 KB | 433 downloads
  • #209
  • Feb 25, 2011 9:17pm Feb 25, 2011 9:17pm
Quoting derfl
You may find this indicator useful for displaying the current price and market data
thank u v much derfl! may u have a nice weekend!
  • #210
  • Feb 25, 2011 9:35pm Feb 25, 2011 9:35pm
Quoting msmarple
kedridder,

Normally I hate it if in a new thread people start modifying the original template immediately, but this is just what I thought might keep it simple and enable me to switch to 15min or 4h without 1000 new lines and indicators having to readjust.

Lawgirl`s Trenddisplay has just proven to be a great momentum indicator - we all know that sometimes we have classic candlestick or price action formations like engulfing bars, pinbars, hammers etc., expect a follow through,.... only seeing that there is less strength behind the move...


yup, well said. in e path to gain more edge on trading, i potentially mess up e trade idea that he posted in dis thread. sorry ronnierott!
  • #211
  • Feb 25, 2011 9:39pm Feb 25, 2011 9:39pm
Quoting fxhermit
Here is a thread that was the origin of the "Black Dog" that I believe then evolved into the current commercial system. Some of you smarties may be able to glean an insight or two.

http://www.forexfactory.com/showthread.php?t=82484

it ended up here.
right in e bin.

how can it be??
Attached Image
  • #212
  • Feb 26, 2011 11:40am Feb 26, 2011 11:40am
OK I've been thinking about possible improvements - discussions of which have been welcomed by the thread starter - I feel that the MM/Trade Management of this system could be improved upon to enhance profitability.

I have taken an un-scientific look back at a few charts this w'end, my suggestions for discussion would include the following:

1) a 50-60 pip SL and
2) tiered TP levels

2.1) 25% TP at 50 pips and move stop to BE/Entry
2.2) 25% TP at 75 pips
2.3) 25% TP at 100 pips
2.4) 25% TP at full candle close above or below 15EMA, in the opposite direction

Maybe something to think about
  • #213
  • Feb 26, 2011 12:15pm Feb 26, 2011 12:15pm
Quoting stricky1967
OK I've been thinking about possible improvements - discussions of which have been welcomed by the thread starter - I feel that the MM/Trade Management of this system could be improved upon to enhance profitability.

I have taken an un-scientific look back at a few charts this w'end, my suggestions for discussion would include the following:

1) a 50-60 pip SL and
2) tiered TP levels

2.1) 25% TP at 50 pips and move stop to BE/Entry
2.2) 25% TP at 75 pips
2.3) 25% TP at 100 pips
2.4) 25% TP at full candle close above or below 15EMA, in the opposite...
Good thinking Stricky, perhaps the S/L and TP's could be made dynamic in nature so that market range is taken into consideration. TEB63 has an absolutely great thread on this at:

http://www.forexfactory.com/showthread.php?t=106165

Would suit this strategy quite well, I think.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #214
  • Feb 26, 2011 12:24pm Feb 26, 2011 12:24pm
Since a picture is worth a thousand words, here is a recent EURUSD example of what I am refering to in the above post.
Attached Image (click to enlarge)
Click to Enlarge Name: ff chrt 1.gif Size: 15 KB
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #215
  • Feb 26, 2011 12:32pm Feb 26, 2011 12:32pm
Let's include the obvious add on entry (isn't hindsight just wonderful ). I'm such a darn lazy trader and this approach is almost a no brainer, that's why I like it. Besides, simple always works best.
Attached Image (click to enlarge)
Click to Enlarge Name: ff chrt 2.gif Size: 15 KB
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #216
  • Feb 26, 2011 12:47pm Feb 26, 2011 12:47pm
Quoting msmarple
Thank you fxhermit, very interesting. Actually I bought the commercial system about 2 years ago. However, although the system was somehow safe and low-risk, I had late entries. I was too focused on the arrows and then noticed that I had better entries if I follow price action and keep mindful of stop-hunt levels. But to each his/her own.

BTW : do you know if Bluemental is still present somewhere ? I enjoyed your posts at the BigMac thread very much - your knowledge about Pitchforks, Swing trading and combining multiple timeframes was very helpful...
Yes, price always comes first, after all it's the beast us fleas are attempting to ride. However, as fleas we have the ability of being nimble and thereby hopefully taking advantage of the lumbering beast . O.K. so much for the silly analogy.

Yeah, the BIGMAC thread kind of died out, regardless, the basic principles apply to any trading approach. Glad you enjoyed it while it lasted.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #217
  • Feb 26, 2011 12:55pm Feb 26, 2011 12:55pm
Lines in the sand are red so could this be the next scenario? Like in the movies, you'll have to stay to the end to find out.
Attached Image (click to enlarge)
Click to Enlarge Name: ff chrt 3.gif Size: 15 KB
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #218
  • Feb 26, 2011 2:43pm Feb 26, 2011 2:43pm
Quoting stricky1967
OK I've been thinking about possible improvements - discussions of which have been welcomed by the thread starter - I feel that the MM/Trade Management of this system could be improved upon to enhance profitability.

I have taken an un-scientific look back at a few charts this w'end, my suggestions for discussion would include the following:

1) a 50-60 pip SL and
2) tiered TP levels

2.1) 25% TP at 50 pips and move stop to BE/Entry
2.2) 25% TP at 75 pips
2.3) 25% TP at 100 pips
2.4) 25% TP at full candle close above or below 15EMA, in the opposite...

Hi Stricky,

Liking the sound of your suggestions.

The number of times I've seen a trade go 80+ then finish BE, it's criminal not to reap some of the benefits.

Automating this MM would be even better.

Having unlimited screentime would also help........... Pity the day job sometimes gets in the way, damn work.

I'm liking the way this thread is going.
  • #219
  • Feb 27, 2011 4:01am Feb 27, 2011 4:01am
Hi Ronnie..

Fantastic thread here... Cool system too.
Sooner or later I will need to learn how to trade something slower than M5,
maybe I will give your System a go...

Old days is start kickin you know....

Thanks for sharingl this gold to us.


NG
  • #220
  • Feb 27, 2011 4:32am Feb 27, 2011 4:32am
Thanks fxhermit, I'll take a look at that thread

Quoting fxhermit
Good thinking Stricky, perhaps the S/L and TP's could be made dynamic in nature so that market range is taken into consideration. TEB63 has an absolutely great thread on this at:

http://www.forexfactory.com/showthread.php?t=106165

Would suit this strategy quite well, I think.

Quoting ronnierott
The number of times I've seen a trade go 80+ then finish BE, it's criminal not to reap some of the benefits.

Automating this MM would be even better.
Yeh' I'd noticed this too
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