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Bread and Butter Trades

  • #381
  • Aug 29, 2011 11:55am Aug 29, 2011 11:55am
I was blessed to be around just some few minutes ago to catch this eu trade.

After missing the previous 24ema trade, I adjusted my limit buy to reflect the latest 24ema position and I kept chking every hr.

Just got back and noticed that I was filled and first tp already hit.

Nice and easy...no need for complicated analysis.

Happy trading.
Attached Image (click to enlarge)
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  • #382
  • Aug 30, 2011 7:00am Aug 30, 2011 7:00am
Take a look at this trade taken today.

I came online late to trade and saw eu falling hard. I waited for the candle to finish and set my limit to sell. The rest is history now.

Is this a chance trade, was I lucky to be at my desk at this time? Or is it just beginner's luck?? I guess the pips reward will tell.

The picture say it all.

If I was online earlier, the picture may have been different.

Happy trading.
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  • #383
  • Aug 30, 2011 7:07am Aug 30, 2011 7:07am
Ibuks,

thanks your effort and sharing about this strategy,
what is your opinion , the strategy through stev EA that why cannot get profitable performance , what is the major issue compare to your manual trading?


Regard.
  • #384
  • Aug 30, 2011 9:03am Aug 30, 2011 9:03am
Hi Devonfgu,

Use the machine advantage. Put the ea on a demo and use it to get u started to study the strategy.

With the ea on a demo, I have been trying 2 other pairs which will be come part of what i trade when am happy. However, I could not focus on more than 1 pair b4, but the ea is gradually letting me loose.

I also post some of these trades to help other fully understand the strategy. I also think the problem of mt4 also contributed to the failure of the ea so far. But as far as I am concern, the ea is a winner as it is helping me see what I would ordinarily not see if i was trading manually.

My advice, trade it manually first and then use the ea to ur advantage as best as u can.

I also remember Steve saying somewhere on his thread that there is no set and forget ea....am I right Steve??....lol. Maybe this is a case in time.

Happy trading.

Quoting Devonfgu
Ibuks,

thanks your effort and sharing about this strategy,
what is your opinion , the strategy through stev EA that why cannot get profitable performance , what is the major issue compare to your manual trading?


Regard.
  • #385
  • Aug 30, 2011 4:16pm Aug 30, 2011 4:16pm
hello all
these are my last 10 days..
I'm working as I had written a few weeks ago
with rules of Ibuks in first post and the fibo The7

Work 2-3 hours a day or less.. only manual, very very simple
at least 35 pips a day(today 130.. last week I was on vacation)

I will keep you also updated the next few weeks, ask if you need

The advice to you is do not try to complicate it by believing that it can not be so much simpler..

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  • #386
  • Aug 30, 2011 4:28pm Aug 30, 2011 4:28pm
Exactly the point danyjoe

The best things in life are simplier than we thought.

Keep it up.


Quoting Danyjoe
hello all
these are my last 10 days..
I'm working as I had written a few weeks ago
with rules of Ibuks in first post and the fibo The7

Work 2-3 hours a day or less.. only manual, very very simple
at least 35 pips a day(today 130.. last week I was on vacation)

I will keep you also updated the next few weeks, ask if you need

The advice to you is do not try to complicate it by believing that it can not be so much simpler..

  • #387
  • Aug 30, 2011 4:56pm Aug 30, 2011 4:56pm
Quoting Ibuks
Exactly the point danyjoe

The best things in life are simplier than we thought.

Keep it up.
"algorithms, logarithms and equations ...
completely useless if you can not imagine yourself riding a beam of light"
Albert Einstein

  • #388
  • Aug 30, 2011 5:03pm Aug 30, 2011 5:03pm
Quoting Ibuks
Take a look at this trade taken today.


If I was online earlier, the picture may have been different.

Happy trading.
Hi Ibuks,

I am a little bit confused here.In the first page it says:

2. When price is below 24ema and travelling UP towards 24ema, If price close above 24ema, Then open and close above 24ema, set a buy limit at 24ema anticipating a retest of 24ema for the journey UP. Vice visa for sell.

But here you didn't wait for 1 candle to open and close below 24ma.

Would explain it why?

Regards
Mike
Failure, is a wonderful teacher!
  • #389
  • Aug 31, 2011 1:46am Aug 31, 2011 1:46am
Hi Mike,

I hope u read my statement ' If I was online earlier, the picture may have been different'.

That explains it all. If I was online earlier, the scenerio would have been different as I would have been in the earlier bounce trade which will be a loss and then reversing the trade may have giving the necessary pips.

I came online when the candle was breaking down and that is the point at which my trading started for the day. In effect, price was below 24ema and i waited at the 24ema to catch the bus to the south.

This is the reason individually, we need to master and tweak it to suit ur personalities.

Trading the same thing for over 3 years have taught me some lessons I could probably not be able to explain it all...but am sure u can get ur niche as well trading it just like The7.

I got an email of someone that only trade this strategy between Frankfurt and NY sessions only becos he think that is d best time for him to get good trades and he trades more than 1 pair.

I hope this help?

Happy trading.


Quoting mike1349
Hi Ibuks,

I am a little bit confused here.In the first page it says:

2. When price is below 24ema and travelling UP towards 24ema, If price close above 24ema, Then open and close above 24ema, set a buy limit at 24ema anticipating a retest of 24ema for the journey UP. Vice visa for sell.

But here you didn't wait for 1 candle to open and close below 24ma.

Would explain it why?

Regards
Mike
  • #390
  • Aug 31, 2011 8:32am Aug 31, 2011 8:32am
Quoting Ibuks
Hi Mike,

I hope u read my statement ' If I was online earlier, the picture may have been different'.



I hope this help?

Happy trading.
Thanks for explanation.I know exactly what are you talking about Ibuks.

These are the stuff which needs time and practice to master it like you.

Well done buddy.

Mike
Failure, is a wonderful teacher!
  • #391
  • Sep 1, 2011 1:59am Sep 1, 2011 1:59am
Quoting mike1349
Thanks for explanation.I know exactly what are you talking about Ibuks.

These are the stuff which needs time and practice to master it like you.

Well done buddy.

Mike
Hi Ibuks,

Super system. Simple to boot! I'll start testing post 11 sept.

I notice that tp is 10+ pips.
Would it be possible, and more to point, do you think it is a good idea, somehow to incoprporate Steve Hopwood's caterpillar idea to add to a winning position?

Details of the catepillar can be found on:
http://www.forexfactory.com/showthread.php?t=309980

see post 1

Regards
Nicastro
  • #392
  • Sep 1, 2011 11:07pm Sep 1, 2011 11:07pm
From my post #331, decided to take off trades prior to NFP tomorrow, as avoiding major news events like NFP would really be one to avoid. To date, prior to this NFP event, I have only taken 2 trades off the table for profits, so most of the results are completely automated. A bit of a bumpy ride, but since Aug 15, sitting at +1,771 Pips. Mid next week, I am planning to start looking at the data to begin building framework of the criteria for a complete analysis on Sept 15. Should be interesting to break it down and come to some conclusions for the next test.

Good trading to all...

George
  • #393
  • Sep 5, 2011 2:04am Sep 5, 2011 2:04am
I did not get any trade on eu last wk Thursday and I had adjusted my sell limits several times waiting for price to come to me.

Friday, being NFP, I left my Thursday limit sell and did not amend it again expecting news to get eu to rally up to my sell limit.

True to expectation, news came out, pushed price to my sell limit and BAAAAM.... got my wish.

Still riding the bus now.

I wish u a happy trading week.
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  • #394
  • Sep 7, 2011 5:28am Sep 7, 2011 5:28am
I took these trades some of which was showed on the pic below.

This volatility will bring more pips to traders who are patient.

Happy trading
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  • #395
  • Sep 7, 2011 6:03am Sep 7, 2011 6:03am
Quoting Ibuks
I took these trades some of which was showed on the pic below.

This volatility will bring more pips to traders who are patient.

Happy trading

Hi,
I took these..
I'm often at the beach and I can not see many occasions
But I'm doing 20-30 pips a day..
Summer ends in a few weeks here!
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  • #396
  • Sep 7, 2011 6:22am Sep 7, 2011 6:22am
Nice one Danny,


Good to enjoy the best of 2 worlds...at the beach and still making pips...whaoooooo


Happy trading

Quoting Danyjoe
Hi,
I took these..
I'm often at the beach and I can not see many occasions
But I'm doing 20-30 pips a day..
Summer ends in a few weeks here!
  • #397
  • Sep 7, 2011 7:09am Sep 7, 2011 7:09am
Quoting Ibuks
Nice one Danny,


Good to enjoy the best of 2 worlds...at the beach and still making pips...whaoooooo


Happy trading
Now opened..
but I think this isnt very strong..
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  • #398
  • Edited Sep 13, 2011 4:11am Sep 12, 2011 7:06am | Edited Sep 13, 2011 4:11am
This is a nice eu trade after almost 2-3 days of no trade from this strategy.

I set the limit @ 24ema b4 london open. I came back 2 hrs later and I noticed that the value has decreased. I ammended it accordingly.

It finally hit and first 20pips tp quickly trigered even in my absence.

Wishing u all a happy trading week.

Happy Trading.
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  • #399
  • Sep 13, 2011 3:42am Sep 13, 2011 3:42am
Knowing when to hold and when to run away is an important part of trading. Kenny Rogers said it better...lol

Nice eu setup for about 40-60 pips this morning. Who would have believed that the same eu then plunged down so hard?

Happy trading
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  • #400
  • Sep 13, 2011 5:55am Sep 13, 2011 5:55am
This is another quick pip from the bounce on the 24ema @ 1.3644. Only 10-15 pips was available.

Happy trading
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