closed at BE
How are you trading this? H4 only on checking on higher/lower TF's? How are you handling exits?
Do you mind elaborating a little bit?
? Thank you very much
Trading system using relative strength
How are you trading this? H4 only on checking on higher/lower TF's? How are you handling exits?
Do you mind elaborating a little bit?
? Thank you very much
Hi Everyone.
Last night I took several hours to read through the whole thread and now I'm excited about giving it a try.
for the sake of comparison, I thought I'd set up all of the methods tried at one point.
- Old indicator first used by ES_Trader
- histograms
- MTF CCFp
I'm getting mixed signals in all of them, can't get any of them to match. I have checked all of the settings and I am using use.current, 240 TF, and same MA settings for all of them.
What's going on? Any enlightmen would be much appreciated
Last night I took several hours to read through the whole thread and now I'm excited about giving it a try.
for the sake of comparison, I thought I'd set up all of the methods tried at one point.
- Old indicator first used by ES_Trader
- histograms
- MTF CCFp
I'm getting mixed signals in all of them, can't get any of them to match. I have checked all of the settings and I am using use.current, 240 TF, and same MA settings for all of them.
What's going on? Any enlightmen would be much appreciated
- #2,224
- Oct 11, 2011 7:50pm Oct 11, 2011 7:50pm
Hi Drifter. Are you using the one with the colors and the + and - ?
How are you trading this? H4 only on checking on higher/lower TF's? How are you handling exits?
Do you mind elaborating a little bit?
Im using the indi in post 2. and inputing the data in to the excel sheet on page 16 post 226.
Im only looking at H4, i dont check higher or lower.
Each trade get a 100 pips SL and then i walk away for an hour or so, when i come back i decide whether to hold or close.
before placing each trade i do a quick technical analysis on each pair just for peace of mind. look for support and resistance, elliot wave etc.
thats it so far, only done 3 trades so im sure ill have more to say in the coming weeks.
hi drifter. A couple of questions, your feedback is being ov much help. (Just closed my first positive basket )
- Beside your 100 pip SL, what's your criteria for exit? Do you wait for the signals of the CCfp H4 to mark a change in the trend in the next closing candle or as you mentioned, you check after an hour of opening wether to hold or close? what's the criteria for this?
- Also, when opening the baskets all you're doing is checking wether each currency "index" is + or - and inputting that into the excel sheet? What you mentioned about S/R only works as a filter not to enter all of the suggestions you get from the excel sheet, am i right?
Once again, thanks for the help!
)- Beside your 100 pip SL, what's your criteria for exit? Do you wait for the signals of the CCfp H4 to mark a change in the trend in the next closing candle or as you mentioned, you check after an hour of opening wether to hold or close? what's the criteria for this?
- Also, when opening the baskets all you're doing is checking wether each currency "index" is + or - and inputting that into the excel sheet? What you mentioned about S/R only works as a filter not to enter all of the suggestions you get from the excel sheet, am i right?
Once again, thanks for the help!
- #2,238
- Oct 12, 2011 9:33am Oct 12, 2011 9:33am
hi drifter. A couple of questions, your feedback is being ov much help. (Just closed my first positive basket
- Beside your 100 pip SL, what's your criteria for exit? Do you wait for the signals of the CCfp H4 to mark a change in the trend in the next closing candle or as you mentioned, you check after an hour of opening wether to hold or close? what's the criteria for this?
- Also, when opening the baskets all you're doing is checking wether each currency "index" is + or - and inputting that into the excel sheet? What you mentioned about...
tonight i actaully used a 75 pip stop. I think if one pair is going that far in the wrong direction its safe to say its going to go further rather than come back.
HOWEVER the 75pip SL is a hard stop meaning in the case of an unexpected news event i wont lose my entire account.
My soft stop is around 350 pips on the entire basket. If it goes negative by that much its safe to say that i got it wrong, cut my losses and try again next candle. This gets a bit tricky as there is no specific exit criterea. I just use normal chating analysis to see if i think the basket will bounce back or not.
Same goes for a positive exit. i look at market conditions. tonight (aussie time) the market moved alot and i took one basket of 400 and one of 260. both happened really quickly, so i got out in fear of a pull back. last night was slower so my trades ran longer.
when opening baskets i only use the + or - in the spread sheet to determin possible trades. as im placing each trade i have a quick look to confirm the direction of the trade. Last nigt i had a Cad/? trade but PA was clearly going the other way so i left that one out.
something i also take into consideration now is how much the ccfq numbers have moved from H4 bar to bar. so if the USD has moved by 10 units the CAD has moved by 1 unit and the Jpy has moved by 1 unit. ill take the usd/cad and usd/jpy trades but not the cad/jpy, i hope that makes sense - i guess this is the basic way of how the more complex histo indi's work with the trade levels 1 to 10 (i might be wrong there, just my interpretaion).
hope that helps
Drifter
Hi Acostafulano,
tonight i actaully used a 75 pip stop. I think if one pair is going that far in the wrong direction its safe to say its going to go further rather than come back.
HOWEVER the 75pip SL is a hard stop meaning in the case of an unexpected news event i wont lose my entire account.
My soft stop is around 350 pips on the entire basket. If it goes negative by that much its safe to say that i got it wrong, cut my losses and try again next candle. This gets a bit tricky as there is no specific exit criterea. I just use normal chating...
For managing the basket I'd reccommend Steve Hopwoods MPTM