Hi Eval
I had a simular trade this morning, got all my entry signals and price action going well for 17 pips then price came back to 10 pips on close of candle and coloured spike apeard so came out happy to take the 10 pips..
- #281
- Sep 26, 2011 12:54pm Sep 26, 2011 12:54pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
- #283
- Edited 1:26pm Sep 26, 2011 12:59pm | Edited 1:26pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
The most important thing he said is there were opportunities to make money - the definition of good luck is - when opportunity meets preparedness
We have the upper hand...simply because....... we have this system!!!!
We see it coming before the rest of the herd.....
- #284
- Sep 26, 2011 2:15pm Sep 26, 2011 2:15pm
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
EUR/USD
- #287
- Sep 26, 2011 3:15pm Sep 26, 2011 3:15pm
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
- #291
- Sep 26, 2011 4:47pm Sep 26, 2011 4:47pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
realjumper,
I played with the inputs for triggerline and found that if you make inputs at 95 or 100 each it will cleanup alot of the whipsaw action making it more stable in predicting trendline changes. Try those setting and you may find they are closer to the original trendline indicator but provide better entry points.
eval.
Doing what you like is Freedom. Liking what you do is Happiness.
- #292
- Edited 9:22pm Sep 26, 2011 6:33pm | Edited 9:22pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
- #296
- Sep 26, 2011 7:32pm Sep 26, 2011 7:32pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
There is no doubt that the system requires no modifications - it is just that trading the triggerlines rather than the trendline provides too many false signals which need to be dealt with somehow if they are used rather than trendlines. I am away from my computer but will post charts in about 9 hours.
For the record i have taken my macd idea from the profitable system "black dog system" which can be found in the recycle bin of this website. I modified the settings slightly.
See post #273 , I made some suggestions on how Triggerline can be modified to make somewhat more stable.:nerd: Check it out and let us know the outcome.
eval.
- #297
- Sep 26, 2011 7:48pm Sep 26, 2011 7:48pm
- | Joined Jul 2010 | Status: Building Edge SandwEdges | 280 Posts
Sarythsaya,
See post #273 , I made some suggestions on how Triggerline can be modified to make somewhat more stable.:nerd: Check it out and let us know the outcome.
eval.
I saw your suggestion but was trying to find a solution that didn't delay the signal quite as much. Your solution is effective though.
Enter Signature
- #298
- Sep 26, 2011 8:18pm Sep 26, 2011 8:18pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Regarding the Triggerlines indi, and it's settings, I have tried 100/100 as Eval suggested, but to me, it's too slow. I am sticking with my original 15/15 settings, and I honestly don't get any false entries, *provided* I apply the indies in this way......note......the numbers below correspond to both charts, and they are in order of importance to me executing a trade.
1. Extreme spike noted
2. Colour change noted
3. Colour change noted
4. An obvious top formed
5. Triggerlines rolled over, crossed and changed colour, so entry here is executed.
So, if all those 5 ducks line up for me, I pull the trigger.
RJ
1. Extreme spike noted
2. Colour change noted
3. Colour change noted
4. An obvious top formed
5. Triggerlines rolled over, crossed and changed colour, so entry here is executed.
So, if all those 5 ducks line up for me, I pull the trigger.
RJ
Doing what you like is Freedom. Liking what you do is Happiness.
- #300
- Sep 26, 2011 10:11pm Sep 26, 2011 10:11pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
I would like for EVERYONE to pay CLOSE ATTENTION to this situation and graph.
(caveat....This occurred during Asian session which can act weird at times)
This is an excellent reason that I promote proper Money Management when trading and as you have seen I have written extensively about it. This is a victory that was a failure......
Here is what I mean. (reference see post #292)
First, we have a Extreme Spike (see red arrows in graph) indicating a top had formed and to be ready for market force changed.
Second, we had all indicators line up showing a SELL signal (in red).
The pricing dropped over 60 pips and gave a false bottoming signal that repainted 2 candlesticks later. THEN......
the Spike and SELL signal both became false
as the market never reached a new bottom and sharply reversed. Instead, the Spike just repainted. This would have put you in a bad spot had one not used an EXIT strategy nor the Order Account Balance Protection rules that I push on each of my reported orders that I post here.
Because of these rules....I used Exit Strategy (2) booked 1/2 my order at 60pips (the disappearing Extrme Spike) and the other hit my 3 pip profit stoploss. (a win on both parts
but a loss because the system never responded to this sudden market reversal.
) What made this a win was proper Money Management techniques.
I will note however, the quick reversal has not reached the initial 50 pip stoploss if you did not modification the original order entered but it came within 3 pips of hitting it.
So..... trade well and make sure you practice proper Money Managment rules.
Remember.....no system, regardless how well designed, can be right 100% ALL of the time!!!
I use this situation to demonstrate why both halves of this program are EXTREMELY important. The automated (charts and indicators) and the human (money managment strategy and chart interpretation).
Happy Trading.
eval.
(caveat....This occurred during Asian session which can act weird at times)
This is an excellent reason that I promote proper Money Management when trading and as you have seen I have written extensively about it. This is a victory that was a failure......
Here is what I mean. (reference see post #292)
First, we have a Extreme Spike (see red arrows in graph) indicating a top had formed and to be ready for market force changed.
Second, we had all indicators line up showing a SELL signal (in red).
The pricing dropped over 60 pips and gave a false bottoming signal that repainted 2 candlesticks later. THEN......
the Spike and SELL signal both became false
as the market never reached a new bottom and sharply reversed. Instead, the Spike just repainted. This would have put you in a bad spot had one not used an EXIT strategy nor the Order Account Balance Protection rules that I push on each of my reported orders that I post here.Because of these rules....I used Exit Strategy (2) booked 1/2 my order at 60pips (the disappearing Extrme Spike) and the other hit my 3 pip profit stoploss. (a win on both parts
but a loss because the system never responded to this sudden market reversal.) What made this a win was proper Money Management techniques.I will note however, the quick reversal has not reached the initial 50 pip stoploss if you did not modification the original order entered but it came within 3 pips of hitting it.
So..... trade well and make sure you practice proper Money Managment rules.
Remember.....no system, regardless how well designed, can be right 100% ALL of the time!!!
I use this situation to demonstrate why both halves of this program are EXTREMELY important. The automated (charts and indicators) and the human (money managment strategy and chart interpretation).
Happy Trading.
eval.
