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  • #1,441
  • Jun 20, 2011 7:52am Jun 20, 2011 7:52am
Quoting olivierforex
Careful with shorts for 3 reasons:
1) TMS bands are now clearly pointing up
2) 1H Stoch has been green 5 hours on the trot
3) for pure MOM trades, 4H Stoch is now pointing up too with Euro at 4272

Instead we could be looking at buying the dip if we get to the bottom of the TMS bands
I know i just preparing myself- but 4h is down (for now)
  • #1,442
  • Jun 20, 2011 7:52am Jun 20, 2011 7:52am
The breaking point or turning point I was talking about.
Taking short at the signal. But if you failed to get out at the low band before the market retracts, and failed also to set the breakeven and SL points, it surely wipes out the account of a passive and newbies' accounts.

Well, considering the fact that I am a conservative trader, I got out at the lower band. I usually do for a quick profit. And in the event that the market keeps going the expected trend, I reenter at the at the next mini retracement outside the band.

just sharing what do with your system.

forexforex
Attached Image (click to enlarge)
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  • #1,443
  • Jun 20, 2011 8:01am Jun 20, 2011 8:01am
Quoting forexforex
The breaking point or turning point I was talking about.
Taking short at the signal. But if you failed to get out at the low band before the market retracts, and failed also to set the breakeven and SL points, it surely wipes out the account of a passive and newbies' accounts.

Well, considering the fact that I am a conservative trader, I got out at the lower band. I usually do for a quick profit. And in the event that the market keeps going the expected trend, I reenter at the at the next mini retracement outside the band.

just sharing...
So i see that only 1h stoch is the good one and not 4h? because 4h shows down trade and 1h shows up-correct me please
  • #1,444
  • Jun 20, 2011 8:11am Jun 20, 2011 8:11am
just my 2 cents...
agree with forexforex
I mentioned about trend reversal too...
it should continue for some time..
now's the time to buy dips
mean eu,gu,ej at least
Mind is the King
  • #1,445
  • Jun 20, 2011 8:27am Jun 20, 2011 8:27am
Not necessarily. I use both and reference each other. Kev or someone else i think already said that the 240 stoch indicates the larger trend and the 1 hr stoch is shows what happens inside that 240.

The signal is there, but the point that I am trying to make is what you would do if it goes your way and what would you do if it does not. You have to learn to deal with the many conditions that the chart will bring you and you should establish a firm plan or strategy for each of them.

forexforex
  • #1,446
  • Jun 20, 2011 8:30am Jun 20, 2011 8:30am
sure, agree
trend is your friend, until it ends obviously
Mind is the King
  • #1,447
  • Jun 20, 2011 8:52am Jun 20, 2011 8:52am
Quoting forexforex
Not necessarily. I use both and reference each other. Kev or someone else i think already said that the 240 stoch indicates the larger trend and the 1 hr stoch is shows what happens inside that 240.

The signal is there, but the point that I am trying to make is what you would do if it goes your way and what would you do if it does not. You have to learn to deal with the many conditions that the chart will bring you and you should establish a firm plan or strategy for each of them.

forexforex
Trade Management beyond the trigger, it"s a whole other story..

I am not sure if I am allowed to talk about it or its even wise to do so because it requires craft and skill and still sometimes leaves you uhh and ahhh's..

but i recommend to not let your losses to widen too much and watch the price reaction when it reach the bands and make firm decision there to either bank the profit or risk the money on the table to get more with reducing the risk to BE or under 10 pips SL..

we talk more.. I be back later on tonight.

happy N.Y piping.
  • #1,448
  • Jun 20, 2011 8:58am Jun 20, 2011 8:58am
Exactly!, That is all what is daytrading is all about if you want to last long and be successful in this business.

Quoting P.Dean
Trade Management beyond the trigger, it"s a whole other story..

I am not sure if I am allowed to talk about it or its even wise to do so because it requires craft and skill and still sometimes leaves you uhh and ahhh's..

but i recommend to not let your losses to widen too much and watch the price reaction when it reach the bands and make firm decision there to either bank the profit or risk the money on the table to get more with reducing the risk to BE or under 10 pips SL..

we talk more.. I be back later on tonight.

happy N.Y piping.
  • #1,449
  • Jun 20, 2011 11:16am Jun 20, 2011 11:16am
closed 1/2 @ .8425. Looking at nice set up with 4 and 1hr stochs up.

UPDATE: moving stop to .8425. Bands are tight and will look for 8435, or close out with 10 @ 8425
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Follow the money --Mark Felt (Deepthroat)
  • #1,450
  • Jun 20, 2011 11:21am Jun 20, 2011 11:21am
I have enjoyed myself today and made a lot of pips by:

 

  1. waiting for 1-Retracement to send a nice jingly alert
  2. checking that the H4 and H1 stochs are both heading in the same direction as the proposed trade
  3. checking that the market is within the TMA lines
  4. stop loss the most recent swing high/low
  5. take profit the opposite direction outermost TMA line
  6. adjusting the tp in line with TMA movement

The attached makes mucking around with tp/sl a lot easier. It is an EA and lives in the Experts folder. Drag it onto the chart and it will draw a green tp and red sl line that represent the tp and sl of the open trade. If there are no stops already in place, it adds defaults.

After that, double click the green or red lines to highlight them. Moving them forces the ea to modify the trade's stops to reflect the new value of the moved line.

FYI, I have already coded a basic EA to trade this method. Before I release it, I want to trade manually and learn more about the strategy; whatever I learn I shall add to the EA. With any luck, you guys will be able to play with it by the end of the week. We shall see.

Attached File(s)
File Type: mq4 Click-and-drag take profit and stop loss EA.mq4   12 KB | 744 downloads
  • #1,451
  • Jun 20, 2011 11:32am Jun 20, 2011 11:32am
These are great news Steve !
Thanks for sharing your strategy within the system
Mind is the King
  • #1,452
  • Jun 20, 2011 11:32am Jun 20, 2011 11:32am
Quoting SteveHopwood
I have enjoyed myself today and made a lot of pips by:

blah,blah,blah

I knew it was only a matter of time.
Good to see you here.
  • #1,453
  • Jun 20, 2011 12:00pm Jun 20, 2011 12:00pm
Quoting SteveHopwood
The attached makes mucking around with tp/sl a lot easier. It is an EA and lives in the Experts folder. Drag it onto the chart and it will draw a green tp and red sl line that represent the tp and sl of the open trade. If there are no stops already in place, it adds defaults.

After that, double click the green or red lines to highlight them. Moving them forces the ea to modify the trade's stops to reflect the new value of the moved line.

FYI, I have already coded a basic EA to trade this method. Before I release it, I want to trade manually...
Thanks Steve for the click and drag tp/sl I have been looking for something like that for ages
  • #1,454
  • Jun 20, 2011 12:07pm Jun 20, 2011 12:07pm
Steve, big thumbs up. I am really enjoying your ea's. Brilliant!!
  • #1,455
  • Jun 20, 2011 12:14pm Jun 20, 2011 12:14pm
My wish has come true.... Kevin and Steve pair up.... Yahoo, this is a winning method meeting a winning programer - - i for one can't wait for the outcome of this dream team.

Kevin you rock - - Steve you roll

Back to trade school - Kevinator High.
@FibusSnatchy
  • #1,456
  • Jun 20, 2011 12:20pm Jun 20, 2011 12:20pm
Quoting logic38
Thanks Steve for the click and drag tp/sl I have been looking for something like that for ages
You are welcome. It is a real stress-saver.

  • #1,457
  • Jun 20, 2011 12:34pm Jun 20, 2011 12:34pm
steve

i've download your indicator of drag tp/sl but nothing happen in my chart. can you post an attachment of example to use your indicator. or maybe you need to save in .ex4 instead.
  • #1,458
  • Jun 20, 2011 12:39pm Jun 20, 2011 12:39pm
Quoting SteveHopwood
You are welcome. It is a real stress-saver.

Steve I have just tested the EA on demo and sl and tp are moving up and down with the current price? any help thanks
  • #1,459
  • Jun 20, 2011 12:49pm Jun 20, 2011 12:49pm
Quoting Cicak
steve

i've download your indicator of drag tp/sl but nothing happen in my chart. can you post an attachment of example to use your indicator. or maybe you need to save in .ex4 instead.
Its not an indicator, its an EA so it goes in the expert adviser folder. Then just drag and drop to chart. Then a popup should come up with the EA settings where you can setup your tp/sl
  • #1,460
  • Jun 20, 2011 12:59pm Jun 20, 2011 12:59pm
Kevin,
thanks so much for your system,I have been following it for a while thou. I recently observered that the TMA gives a different sets of value as soon as the charts are closed and restarted offline. The values generated online do not match when checks offline after a while. I was wondering if Im missing something or thats the way it actually is? Please can you clearify on this issue. All the same I have had very good setups using this method,but Im just looking for a way to automate it as my job doesnt allow me be on the system even for an hour at a strecth. Please any advice would be appreciated. Thanks alot
It takes the Mind to Make Money.............
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