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  • #1,221
  • Aug 25, 2011 5:06am Aug 25, 2011 5:06am
you didn't add the buffer..

I am looking at this also for long, but am waiting on my pending being hit

Quoting TokyoDrifter
EJ long MSCT I think.....
  • #1,222
  • Aug 25, 2011 5:10am Aug 25, 2011 5:10am
Quoting dtdoom
Great threat!! congratulations
We started this morning very bullish until got 1.4475 area,.. then neutral. Later breaks 1.4450 and plunge.
When did you stop thinking on LONG trades, and start to think SHORT.

Thanks
I take it your asking a question.. so if you are..

we don't think too much but rather we react based on what we see and when it meets one of our setups..
in this case we got a up and down market where it went from bullish strike to bearish strike look a like and without showing much of Neutral band at all.
  • #1,223
  • Aug 25, 2011 5:15am Aug 25, 2011 5:15am
Quoting jmw1970
you didn't add the buffer..

I am looking at this also for long, but am waiting on my pending being hit
Yeah, I'm a bit too quick on the click. Now waiting to ambush the EU. Do you think it's too tight....
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m.jpg Size: 79 KB
  • #1,224
  • Aug 25, 2011 5:21am Aug 25, 2011 5:21am
can't see what your buy stop is set at, for me the indicator is highlighting 1.44328

if you look at the attachments (paperclip top right) you will find a newer version of the retracement finder indicator that gives pending order price boxes

called Retracement Finder with Entry




Quoting TokyoDrifter
Yeah, I'm a bit too quick on the click. Now waiting to ambush the EU. Do you think it's too tight....
  • #1,225
  • Aug 25, 2011 5:34am Aug 25, 2011 5:34am
Quoting jmw1970
can't see what your buy stop is set at, for me the indicator is highlighting 1.44328

if you look at the attachments (paperclip top right) you will find a newer version of the retracement finder indicator that gives pending order price boxes

called Retracement Finder with Entry
John,
about this calculation..
it automatically accounts when one got a floating spread.. or you have got it at a first set number for spread on this?
  • #1,226
  • Aug 25, 2011 5:39am Aug 25, 2011 5:39am
Out for +20pips.....
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m.jpg Size: 70 KB
  • #1,227
  • Aug 25, 2011 5:47am Aug 25, 2011 5:47am
it uses a floating spread calculation so Ask-Bid at the time of the new bar

although to change it to use global variables and a fixed avg spread per currency pair (or allow the user to choose between fixed & floating) wouldn't be difficult

Quoting P.Dean
John,
about this calculation..
it automatically accounts when one got a floating spread.. or you have got it at a first set number for spread on this?
  • #1,228
  • Aug 25, 2011 5:51am Aug 25, 2011 5:51am
Quoting jmw1970
can't see what your buy stop is set at, for me the indicator is highlighting 1.44328

if you look at the attachments (paperclip top right) you will find a newer version of the retracement finder indicator that gives pending order price boxes

called Retracement Finder with Entry
OK John I got it attached now. Thanks!
  • #1,229
  • Aug 25, 2011 5:52am Aug 25, 2011 5:52am
Quoting jmw1970
it uses a floating spread calculation so Ask-Bid at the time of the new bar

although to change it to use global variables and a fixed avg spread per currency pair (or allow the user to choose between fixed & floating) wouldn't be difficult

no its good that is floating bcz my spread is floating..
so to just be exact for confirmation:
floating spread + 3.3 buffer = correct pending order.. ?? (i think the buffer is set at 3.0)
  • #1,230
  • Aug 25, 2011 6:09am Aug 25, 2011 6:09am
short of EU, SBT setup.. but its a weak one IMO.. let's see what happens..
Attached Image (click to enlarge)
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  • #1,231
  • Aug 25, 2011 6:22am Aug 25, 2011 6:22am
Quoting P.Dean
short of EU, SBT setup.. but its a weak one IMO.. let's see what happens..
P.Dean....I'm in this same trade so I didn't post a chart. Here is where I struggle. 4 consecutive candles failed to close below the mid-line. I'm allowing it to effect my decision to stay with the trade or bail. I just bailed with a breakeven trade. Should I even be thinking like this?
"Amat Victoria Curam" Victory Loves Preparation
  • #1,232
  • Aug 25, 2011 6:27am Aug 25, 2011 6:27am
Quoting daytrade5
P.Dean....I'm in this same trade so I didn't post a chart. Here is where I struggle. 4 consecutive candles failed to close below the mid-line. I'm allowing it to effect my decision to stay with the trade or bail. I just bailed with a breakeven trade. Should I even be thinking like this?
my chart should answer your question...
look at it and tell me what you see different, than i explain..
Attached Image (click to enlarge)
Click to Enlarge Name: 74.gif Size: 51 KB
  • #1,233
  • Aug 25, 2011 6:28am Aug 25, 2011 6:28am
Hi PD,

I got in the EU short too. Again a little too early. Bailed for +4pips when I seen the price bouncing around the mid band.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m.jpg Size: 81 KB
  • #1,234
  • Aug 25, 2011 6:32am Aug 25, 2011 6:32am
correct

then for longs it will be

High + Floating Spread + Buffer (default 3)

for shorts it will be

Low - Buffer (default 3)



Quoting P.Dean
no its good that is floating bcz my spread is floating..
so to just be exact for confirmation:
floating spread + 3.3 buffer = correct pending order.. ?? (i think the buffer is set at 3.0)
  • #1,235
  • Edited 6:47am Aug 25, 2011 6:37am | Edited 6:47am
Quoting jmw1970
correct

then for longs it will be

High + Floating Spread + Buffer (default 3)

for shorts it will be

Low - Buffer (default 3)
thanks John.. and now I see we can change around the buffer default.. its a good tool.

folks..
use this tool it helps greatly in the speed of things.. and set the butter to 3.3 pips.
  • #1,236
  • Aug 25, 2011 6:43am Aug 25, 2011 6:43am
"butter" - LOL - you got thick fingers from counting all your profits from this method

Quoting P.Dean
thanks John.. and now I see we can change around the butter default.. its a good tool.

folks..
use this tool it helps greatly in the speed of things.. and set the butter to 3.3 pips.
  • #1,237
  • Aug 25, 2011 6:44am Aug 25, 2011 6:44am
Quoting P.Dean
my chart should answer your question...
look at it and tell me what you see different, than i explain..
daytrade5.. what happen to you!!

ok..
if you look at my chart you will see that i have lowered the risk to half for about 8 pips vs original hard sl of 18..
so instead of totally dropping my hard and bailing i lower the risk within normal losing average..

sure it has been struggling, but also its not going opposite quite strong..
mid band bounces and struggle its also a given, it happens most of the times.


and.. sl just got hit for -8... next one
  • #1,238
  • Aug 25, 2011 6:45am Aug 25, 2011 6:45am
Quoting jmw1970
"butter" - LOL - you got thick fingers from counting all your profits from this method
... sorry

its Buffer not Butter..
  • #1,239
  • Aug 25, 2011 6:47am Aug 25, 2011 6:47am
Quoting P.Dean
my chart should answer your question...
look at it and tell me what you see different, than i explain..
What's different is that I see you have tightened your stop loss minimizing your risk. You can now relax and see what happens since you still are able to give it all the time it needs to break and possibly run.
"Amat Victoria Curam" Victory Loves Preparation
  • #1,240
  • Aug 25, 2011 6:54am Aug 25, 2011 6:54am
I got into EURUS too. After so much hesitation I decide to get out with -2

Was this trade a good one? I mean base on your rules.
now i feel like I bet the wrong trend.
Attached Image (click to enlarge)
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