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Attachments: 5 Min TrendPipper - with Hull, Ema and Pivots
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5 Min TrendPipper - with Hull, Ema and Pivots

  • #181
  • Apr 8, 2011 8:55am Apr 8, 2011 8:55am
Quoting dynel14
even the best system is useless if you do not see price action.
hope I could help.
Thx Dynel,

In your attached image, you highlighted the Bullish Engulfing pattern.

Do you use a pattern recognition indicator, or did you draw that in yourself for the purpose of showing an example?
  • #182
  • Apr 8, 2011 9:07am Apr 8, 2011 9:07am
i have 2 trade today but are lost money plaese say me why?thankes
Attached Image (click to enlarge)
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  • #183
  • Apr 8, 2011 9:09am Apr 8, 2011 9:09am
Quoting spot007
Thx Dynel,

In your attached image, you highlighted the Bullish Engulfing pattern.

Do you use a pattern recognition indicator, or did you draw that in yourself for the purpose of showing an example?
no indicator. printed all the famous candles pattern and hung it on the wall.
if you really want to trade successfully, you have to deal with price action and if you still have such a great system like in this thread, nothing can go wrong
  • #184
  • Apr 8, 2011 9:40am Apr 8, 2011 9:40am
gbpusd long 1.6357 1st exit +30, i'm not expecting a lot of movement here.
  • #185
  • Apr 8, 2011 10:02am Apr 8, 2011 10:02am
Quoting sanyax
i have 2 trade today but are lost money plaese say me why?thankes
Sanyax,

No system is perfect... you must accept that some trades will be losers...

Dynel14 has a very valid point, which I often forget: Price Action comes first!

BTW... some people use other filtering techniques, if you've read the other posts... (and even then, you may still end up with a bad trade).

I like to use the ADX...

PS: The market does not care about you. Nor does it care whether you make money or lose money. It does what it wants in the moment. Just because it did something one way in the past does not mean it will do it again now or at some other point in the future. Have no expectations, and you will be happier (easier said than done.. I struggle with that myself every day). I empathize with you, though... I hate whipsaws!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 2011apr08 - 001.gif Size: 47 KB
  • #186
  • Apr 8, 2011 10:31am Apr 8, 2011 10:31am
Sanyax, look at your 20 EMA its flat as a pancake. Make sure when trading off any EMA it had some trend to it !! Good luck >>>










See it, Draw it, Trade it ...
  • #187
  • Apr 8, 2011 10:34am Apr 8, 2011 10:34am
Quoting sanyax
i have 2 trade today but are lost money plaese say me why?thankes
sanyax,

i can only offer my opinion, but it's about where and how you've made these entries. first of all, you made a very aggressive short entry on a countertrend trade, which is a risky entry to make. did you wait for candle to close? after signal occurred you didn't wait for move down, and then a pullback. you would have avoided this trade, if you had done so.

on long trade, your entry was at the high of the day, a very risky entry, a big no no. you made a very aggressive long entry. did you wait for close of candle? after signal occurred you didn't wait for move up, and then a pullback. you would have avoided this trade, if you had done so.

i would not have made these trades to begin with.
  • #188
  • Apr 8, 2011 10:42am Apr 8, 2011 10:42am
This is what i get for tonight...
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  • #189
  • Apr 8, 2011 10:52am Apr 8, 2011 10:52am
Quoting sanyax
i have 2 trade today but are lost money plaese say me why?thankes
hi sanyax. here's my opinion about your 2 losses:

first of all, julie states that you are not supposed to enter at the signal candle, but it's safer to wait for a retrace to the 20 EMA. you entered at the signal candle in both trades. i am finding that this rule MUST ALWAYS be obeyed when signal candle opens AND closes beyond the 20 EMA, because you have a higher probability of sl being hit. i do enter on signal candle only when it opens on one side and closes on the other, provided that candle is not too large, and the close is near the EMA.

trade 1 short: besides the above rule, you sold into R2 and into the 60 sma (or coral) - i strongly suggest you add it to your chart -, which provides strong r/s. also, if you check your 15 mn chart, you sold after a doji-hammer which signals a possible downtrend end, and uptrend continuation.

trade 2 long: you were way too far from 20ema, and you bought after 2 overly extended bull candles, with hidden divergence (i use RSI set to 6 periods) - price makes a new high, RSI does not. the correct entry could have been 5 candles after your entry - but you had 2 red nolags before, besides divergence and a shooting star on 15mn, so no trade.
Attached Image (click to enlarge)
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  • #190
  • Apr 8, 2011 11:22am Apr 8, 2011 11:22am
From what I can see there is no need to add loads of new things to the chart which will only confuse someone that is not used to trading. Take the rules, set them in stone and don't try to sell on top of support and don't buy at the high of the day (especially one brought about by high risk news) wait for a pullback to the 20ma.

Waiting for a pullback you might think you are missing the boat but that very rarely happens, and if it does, go to another currency and look for another trade.
  • #191
  • Apr 8, 2011 11:42am Apr 8, 2011 11:42am
Short GBPUSD @ 1.63719 (time 11:25 EST)

1st Exit: 1.63507 @ 11:37, after price went back above Daily Pivot.
2nd Exit: 1.63505 @ 11:41, again near DPV (price stopped moving, and was possibily going to bounce).
3rd Exit: 1.63462 @ 11:50. Price sat at the DPV before breaking.

Average pips: +22.7

If I had hung on to my remaining position for a minute or two, I could have captured another 20 pips or so on the drop past DPV, but I am not complaining! DPV is strong support.

-----

Short GBPAUD @ 1.55399 (time 11:15 EST)

1st Exit: 1.55180 @ 11:37, after price broke both Yesterday's Low and S1.
2nd Exit: 1.55159 @ 11:41, as price did not quite hit S2, and there was potential for a strong bounce.
3rd Exit: 1.55161 @ 11:50, when price stopped moving near S2.

Average pips: +23.2

-----
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 2011apr08 - 002.gif Size: 39 KB
Click to Enlarge Name: gbpaud 2011apr08 - 001.gif Size: 37 KB
  • #192
  • Apr 8, 2011 12:36pm Apr 8, 2011 12:36pm
Hi, first of all thank you very much for sharing this system, I am following and do well with excellent results.
My English is not very good, not if I am putting well.
I want to share a good indicator, which can filter false signals, since we know how the market behaves at 15m, 30m and 1h before entering 5m.
Attached File(s)
File Type: ex4 Sapucay-InfoTrade.ex4   37 KB | 336 downloads
File Type: mq4 Sapucay-InfoTrade.mq4   38 KB | 409 downloads
  • #193
  • Apr 8, 2011 1:14pm Apr 8, 2011 1:14pm
Quoting bubola
hi sanyax. here's my opinion about your 2 losses:

first of all, julie states that you are not supposed to enter at the signal candle, but it's safer to wait for a retrace to the 20 EMA. you entered at the signal candle in both trades. i am finding that this rule MUST ALWAYS be obeyed when signal candle opens AND closes beyond the 20 EMA, because you have a higher probability of sl being hit. i do enter on signal candle only when it opens on one side and closes on the other, provided that candle is not too large, and the close is near the EMA.

trade...
++++++++++++++++++++++++++++++++

Very concise & clear explanation. Have been studying this thread and trying to piece it together. This post helps me alot, and I'm sure it will help anyone that reads it.
Thank You
  • #194
  • Apr 8, 2011 3:02pm Apr 8, 2011 3:02pm
Quoting spot007
In the TzPivots, you can choose whether the pivot formula calculates using daily values or fibonacci values. They're usually quite close, but I noticed in the pictures you posted that you have the TzPivots set to Fibonacci, and your vS_Pivots are set to Daily (easy to tell by the central pivot line: "FPV" signifies Fibonacci, while "DPV" signifies Daily).

It's a matter of preference, but I've switched mine to Daily since using this system.
Thanks. I hadn't noticed the small print.
  • #195
  • Apr 8, 2011 3:38pm Apr 8, 2011 3:38pm
Quoting sanyax
i have 2 trade today but are lost money plaese say me why?thankes
I notice you have the Daily Trading Range indicated in the panel on your chart. The display also indicates the average daily range.

At the time you took the trade the high of the day was formed indicated on the the display ie 114 pips. It was only a few pips below the average daily trading range for the pair i.e 121 pips.

Taking a trade near the high/low of the trading range when the average daily trading range has been achieved/exceeded or is within 10% of the average range is a low probability trade. The chances that the pair will exceed the average daily range are against you.
There is a high probability that PA will retrace or consolidate once the average daily trading range has been hit.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #196
  • Apr 8, 2011 3:53pm Apr 8, 2011 3:53pm
Quoting sanyax
i have 2 trade today but are lost money plaese say me why?thankes
With regards to your first trade (short) , it appears as if you took this trade 5 minutes before a " Red Alert" economic news announcement.

The reading was a lot better than expected causing the sharp upwards spike in the price.

Unless you are an experienced news trader and/or gambler rather wait for the PA to settle after the announcement 10M-15M before considering a new position. The time indicated on the calendar is GMT +2 .
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Apr. 08 22.44.jpg Size: 13 KB
" Never let the past hold the future to ransom "
  • #197
  • Apr 9, 2011 2:47am Apr 9, 2011 2:47am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Very concise & clear explanation. Have been studying this thread and trying to piece it together. This post helps me alot, and I'm sure it will help anyone that reads it.
Thank You
glad i could help, diamond
  • #198
  • Apr 10, 2011 4:33pm Apr 10, 2011 4:33pm
Quoting dynel14
even the best system is useless if you do not see price action.
hope I could help.
trading when there's more likely to be price action helps. asian session 7-9pm est and 2-4am euro/uk session.
  • #199
  • Apr 10, 2011 4:38pm Apr 10, 2011 4:38pm
thanks a lot guys for all the information. i really enjoy reading all of your details explanation.

however i have some question for spot007 or anyone else who knows.as you are using the ADX for the trend strength, do you care about the +DI and -DI line as well?i am really new to these, do you guys have some reference where i can learn more about ADX and pivot line.there too many line in pivot.which one is the important one.


thanks in advance
  • #200
  • Apr 10, 2011 4:46pm Apr 10, 2011 4:46pm
closed eurusd long 1.4301 3rd exit +160
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