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Attachments: Ronnierott's 1 Hour Strategy
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Ronnierott's 1 Hour Strategy

  • #381
  • Mar 8, 2011 12:20am Mar 8, 2011 12:20am
Is the following analysis correct:

Candle (1) was the initial "setup" candle;

however after candle (2) closed above the 15EMA line, it becomes the new setup candle.

Waiting to see what transpires with Candle(3) ; moving the original sell stop order to 10 pips below candle 2. Is that correct?
thanks.
Attached Image
  • #382
  • Mar 8, 2011 12:35am Mar 8, 2011 12:35am
Quoting lakeluke
Is the following analysis correct:

Candle (1) was the initial "setup" candle;

however after candle (2) closed above the 15EMA line, it becomes the new setup candle.

Waiting to see what transpires with Candle(3) ; moving the original sell stop order to 10 pips below candle 2. Is that correct?
thanks.

Candle 2 closed above 15 EMA.......... Cancel order and wait for new setup.

If candle 3 closes below 15 EMA and all other criteria is met then that is the new setup candle
  • #383
  • Mar 8, 2011 1:15am Mar 8, 2011 1:15am
got it; I think it's nearly sunk in. thanks for mentoring.
  • #384
  • Edited 2:45am Mar 8, 2011 1:20am | Edited 2:45am
Morning all

GBPUSD could be interesting for a sell cos we had a fall from a triple top yesterday
If it goes past yesterday low of 1.61822 , away she goes
UPDATE - Sorry I just realized it did not, penetrate the Fast MA beforehand, (shame)
  • #385
  • Mar 8, 2011 1:27am Mar 8, 2011 1:27am
Quoting peterporter
Morning all

GBPUSD could be interesting for a sell cos we had a fall from a triple top yesterday
If it goes past yesterday low of 1.61822 , away she goes
UPDATE - Sorry I just realized it did not penetrate the Fast MA beforehand, (shame)

yeah, but if u go according to the rules, there's no setup candle at all.
  • #386
  • Edited 2:38am Mar 8, 2011 1:29am | Edited 2:38am
Quoting kedridder
yeah, but if u go according to the rules, there's no setup candle at all.
UPDATE - Sorry I just realized it did not penetrate the Fast MA beforehand, (shame)
Ive still taken it though cos on my other system its a signal to sell http://www.forexfactory.com/images/m...ading_dark.gif
  • #387
  • Mar 8, 2011 1:31am Mar 8, 2011 1:31am
Quoting peterporter
UPDATE - Sorry I just realized it did not penetrate the Fast MA beforehand, (shame) http://www.forexfactory.com/images/m...ading_dark.gif http://www.forexfactory.com/images/buttons/edit.gif

no worries, we all learn from mistakes and help each other.
  • #388
  • Mar 8, 2011 1:52am Mar 8, 2011 1:52am
Quoting kedridder
well, this pair certainly didnt give me a good time. Yellow area is my setup candle.
my swissy trade is down the drain.
  • #389
  • Mar 8, 2011 1:55am Mar 8, 2011 1:55am
Quoting kedridder
my swissy trade is down the drain.
yep same here
  • #390
  • Mar 8, 2011 2:02am Mar 8, 2011 2:02am
Quoting peterporter
yep same here

-100 on USDCHF , not a great start to the week
  • #391
  • Mar 8, 2011 2:08am Mar 8, 2011 2:08am
I am runner EAcoder's EA on a demo with 6 pairs [EU, GU, UCHF, AU, UJ, GJ] and have done so for around 1 week now and haven't had any signals.

Are others getting the same inactivity or is there some setting that I need to change

Current setting I have are those OOTB
  • #392
  • Mar 8, 2011 2:53am Mar 8, 2011 2:53am
According to the rules, Candle(1) or Candle(2) were good "setup" candles; hence enter trade at 10 pips below their Low for a "Sell-Stop" order.

However after entering this trade, it then went negative; the rules normally state 100 SL;

As a new idea, why not take the SL to be the point 3, i.e. when the MA on the MACD goes outside it.

Advantage: A smaller possible loss on the trade.

Disadvantage here would mean that you would have to watch the trade more carefully;
however, I think still set the SL at 100 pips, but at the same time, when the MACD MA goes outside like Pt3, then kill the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF-8mar-.jpg Size: 279 KB
  • #393
  • Mar 8, 2011 2:56am Mar 8, 2011 2:56am
Hi,
I am following this thread and it is great strategy. This is my first post. I identified the Sell setup candle. I attached the JPG files. Can some confirm it. The Setepup candle is highlighted in Yellow colour.

Many Thanks in advance
Attached Image
  • #394
  • Edited 3:17am Mar 8, 2011 3:00am | Edited 3:17am
Quoting lakeluke
According to the rules, Candle(1) or Candle(2) were good "setup"...
Interesting, I will have a look back and see if thats a good idea
Must admit , I normally use 100 SL on trades set up on H4
would normally be around 50 SL for H1
Your just talking about the SL cos the same could be said for the TP as a good place to take your profits maybe or even a trade thats not moving will have the EMA eventually leave the MACD, another sign to bail out cos the trend is over
Does sound worth testing , my next trades I wil try that
Remember everyone , the idea about the forum is to share thoughts and ideas and not necessarily just stick to the rules , hence the forums would be a pretty dull affair and good systems could not evolve;
Ronnie would agree on that I sure
  • #395
  • Mar 8, 2011 3:22am Mar 8, 2011 3:22am
your right Peter, and without wanting to change too much Ron's obviously successful strategy, as it has worked for him well; new ideas are useful. I hope Ronnierott does not mind too much.
  • #396
  • Mar 8, 2011 3:23am Mar 8, 2011 3:23am
Quoting netwatchpips
Hi,
I am following this thread and it is great strategy. This is my first post. I identified the Sell setup candle. I attached the JPG files. Can some confirm it. The Setepup candle is highlighted in Yellow colour.

Many Thanks in advance
check you fast ema
it should be 15 EMA close
15 Exponential Moving Average applied to the closing price
  • #397
  • Mar 8, 2011 3:23am Mar 8, 2011 3:23am
.
  • #398
  • Mar 8, 2011 3:24am Mar 8, 2011 3:24am
Hello all

Interesting thread - definitely subscribing!

One question re the MACD. I use ProRealTime charts and only have 3 fields available for the MACD settings, yet this version requires 4. What do I do?
  • #399
  • Mar 8, 2011 3:28am Mar 8, 2011 3:28am
Quoting Delite
Hello all

Interesting thread - definitely subscribing!

One question re the MACD. I use ProRealTime charts and only have 3 fields available for the MACD settings, yet this version requires 4. What do I do?
You will have to download Metatrader , analyse your charts and entries on that, but actually trade on Prorealtime
  • #400
  • Mar 8, 2011 3:39am Mar 8, 2011 3:39am
Quoting peterporter
check you fast ema
it should be 15 EMA close
15 Exponential Moving Average applied to the closing price
Thank for that. You are right my 15 EMA is set to low. I changed it now. Thank you.
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