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EU Intraday System

  • #1
  • First Post: Edited Aug 10, 2011 8:21am Jul 27, 2011 8:30pm | Edited Aug 10, 2011 8:21am
My first post regarding a trading syste. Been using it for some time and hope it will be profitable system for everyone. It can be only used for EU and it is intraday trading system on 5M but runs the whole of 24 hours before the system is reset. Use your own judgement on profit level based on average daily range (normally is about 120pips). Once you reach this range, than it is game over for the day unless it is unusual trading runs!
  • #2
  • Jul 27, 2011 8:47pm Jul 27, 2011 8:47pm
here is the screenshot for the 5M. Good trades comes in when the 133 and 222 are getting closer. Until then, trades will be erratic.Thats why need to trade during asian or Euro session. Today the 133 and 233 are wide apart in asian session start. Will let it closer and then strike the trade. My assumption today will be up!
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.gif Size: 26 KB
  • #3
  • Jul 27, 2011 9:48pm Jul 27, 2011 9:48pm
SMA 133 and 222 still splitting up. Looks Asian session continues with the downtrend. No long for now Will wait for the lines to come closer. Yesterday's short still in play. 4H already oversold, so, might see pull back during Euro/USA session. The SMA 4 tried to penetrate SMA 133, but got rejected and come tumbling down. I think we already reached the bottom for the Asian session.
  • #4
  • Jul 27, 2011 11:37pm Jul 27, 2011 11:37pm
133 flatten out and slightly pointing up. sma 4 crossed 133. lets see if can rally up to sma222
  • #5
  • Jul 28, 2011 1:21am Jul 28, 2011 1:21am
Hi dsugums,

I've read your strategy and it looks interesting. I have question though: have you run any tests on it? If yes what are the results? How many trades have you won and how many lose trading this system?

Cheers,
  • #6
  • Jul 28, 2011 1:28am Jul 28, 2011 1:28am
Quoting Songo
Hi dsugums,

I've read your strategy and it looks interesting. I have question though: have you run any tests on it? If yes what are the results? How many trades have you won and how many lose trading this system?

Cheers,
I am using it for quite sometime. It happen to be told by someone who is very experienced trader.

Best trades or trend comes in when the 4SMA crosses both the longer term SMA. Then let it run for at least 100pips, it never misses it

Just eye ball it for the past results, you should know the reliability.

For today trade, wait for the 4SMA cross both 133 and 222. It should be long trade today if it does cross the SMAs
  • #7
  • Jul 28, 2011 1:47am Jul 28, 2011 1:47am
Quoting dsugums
I am using it for quite sometime. It happen to be told by someone who is very experienced trader.

Best trades or trend comes in when the 4SMA crosses both the longer term SMA. Then let it run for at least 100pips, it never misses it

Just eye ball it for the past results, you should know the reliability.

For today trade, wait for the 4SMA cross both 133 and 222. It should be long trade today if it does cross the SMAs
Hey,
How do you filter out trades like those shown in the attached chart?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 28 KB
  • #8
  • Jul 28, 2011 1:49am Jul 28, 2011 1:49am
looks interesting, i'll try it out, thanks for posting system.
  • #9
  • Edited 2:28am Jul 28, 2011 2:14am | Edited 2:28am
Quoting Harry123
Hey,
How do you filter out trades like those shown in the attached chart?
Once you break the two SMA, your stoploss will be your previous swing low or high. Look at the chart, it did not go below that level until you touch about 100pips.
  • #10
  • Jul 28, 2011 2:19am Jul 28, 2011 2:19am
Curent chart at abt 8GMT. Looks like the price is waiting for the white and yellow line to come closer

High possibility of long for today (or rebound from oversold)
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.gif Size: 28 KB
  • #11
  • Jul 28, 2011 2:21am Jul 28, 2011 2:21am
Quoting dsugums
Once you break the two SMA, your stoploss will be your previous swing low. Look at the chart, it did not go below that level until you touch about 100pips.
OK, fair enough. Thanks.
  • #12
  • Jul 28, 2011 2:54am Jul 28, 2011 2:54am
Like the system. I have the same style of trading. Hope it does go long and we trend again. I have been using Murray math for the last 2 hours using Price action off key zones just to snag a few. Got my box drawn and ready for a breakout. Its having a hard time breaking the M5 3/8 Murrey math line. which is at 1.43661. it likes that top and the bottom is 1.43433. Then throw in the 1.43500 round number as another midpoint between the 2. Waiting bro but scalping off these key points using price action until we get a breakout. Will follow with everyone on this system. Will say its simple and effective.

EDIT:haha while typing this up it broke through. Lets see if it holds. GL everyone
  • #13
  • Jul 28, 2011 3:22am Jul 28, 2011 3:22am
Hope you all catched the move. I prefer to take 30pips profit partially and let the rest move to BE. As long the 133 and 222 not crossed, there is a danger for reversal.
  • #14
  • Jul 28, 2011 3:33am Jul 28, 2011 3:33am
Quoting dsugums
Hope you all catched the move. I prefer to take 30pips profit partially and let the rest move to BE. As long the 133 and 222 not crossed, there is a danger for reversal.
I agree. 1.4400 is the round number where it stopped.1.44043 is a area of resistance so needs to push pass these to get a good long trend going imo. Would like to see it drop to 1.4374 and bounce a little to re enter. Just need a few more pips and done for the day. Looks like we are heading into some consolidation. Time will tell. Again my opinion on this and I may be wrong
  • #15
  • Jul 28, 2011 4:45am Jul 28, 2011 4:45am
dsugums - thanks for answer I want to clear the pattern - it should look like this:
1. start at 0600 GMT
2. watch at 5 min chart looking for 4SMA crossing 133SMA
3. enter long/short (depending on direction of cross) and look for about 30 pips of profit (placing SL just above/below latest swing before SMAs crossed)
4. if 4SMA crosses 222 SMA look for 100 pips of profit (overall)

Is it ok, or I'm making mistake somewhere?
  • #16
  • Jul 28, 2011 4:55am Jul 28, 2011 4:55am
Is it 1:00GMT or 6:00GMT ?
  • #17
  • Jul 28, 2011 5:12am Jul 28, 2011 5:12am
SMA133 decided to bounce away from SMA222. Does this happen often?
  • #18
  • Jul 28, 2011 5:15am Jul 28, 2011 5:15am
Quoting Songo
dsugums - thanks for answer I want to clear the pattern - it should look like this:
1. start at 0600 GMT
2. watch at 5 min chart looking for 4SMA crossing 133SMA
3. enter long/short (depending on direction of cross) and look for about 30 pips of profit (placing SL just above/below latest swing before SMAs crossed)
4. if 4SMA crosses 222 SMA look for 100 pips of profit (overall)

Is it ok, or I'm making mistake somewhere?
i will put up the rules properly later using today's chart as sample. Today shows a good how the rules play out using the SMAs. Stay tuned
  • #19
  • Jul 28, 2011 5:20am Jul 28, 2011 5:20am
Quoting Harry123
SMA133 decided to bounce away from SMA222. Does this happen often?
Each time there is consolidation, you have a chance to see this. Even if it crosses, it might get back in the original direction. It is the price that lead the indicators, not the indicators that lead the price. Technical analysis is just a game of probability, not prediction.

We never know if it is a reversal or a retracement, this one was a retracement.
  • #20
  • Jul 28, 2011 5:23am Jul 28, 2011 5:23am
Quoting Harry123
SMA133 decided to bounce away from SMA222. Does this happen often?
I did mention need to watch out this crosses. The 4SMA decided to cross back these lines instead and new reversal trade taken. If the 133 and 222 crossed, I will taken additional lots at pullback.
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