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Yet another moving average crossover system

  • #521
  • Oct 28, 2011 9:53am Oct 28, 2011 9:53am
In this pair short on the H1 chart
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  • #522
  • Oct 28, 2011 9:55am Oct 28, 2011 9:55am
Phew out with a couple of pips profit, too volatile for me at present
good luck to all

Tom
  • #523
  • Oct 28, 2011 9:57am Oct 28, 2011 9:57am
Quoting tradestar1
So I guess this system has gone from a Trend trading system to a scalping system?
No.....No.....No...I am not understanding how some of you are not getting it! We are only scalping because that is what the market is offering us this week!
  • #524
  • Oct 28, 2011 9:58am Oct 28, 2011 9:58am
About to hit my TP
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  • #525
  • Oct 28, 2011 9:58am Oct 28, 2011 9:58am
So do you also have some long term trades on while you are scalping the current market?
  • #526
  • Oct 28, 2011 10:02am Oct 28, 2011 10:02am
Quoting digf
I'm quite new to forex and am finding this thread very interesting. Lawgirl is using a Daily Linebox Indicator which I understand gives the spread of the first four candles of the day.
I have a couple of questions. 1. Could someone direct me to a post or article which explains the benefit of using this indicator?
2. I live in the UK so would I be better using one which gave the first candles for the London open?

Thanks so much to Lawgirl for all the work she puts into this thread helping so many people.
Digf, look at the posted USDCAD chart above. I have put a TP at that bottom support line, which is the BO H1 4C line. It is acting as a barrier, if you will. That is the purpose of the BO lines.

Now price may shoot through that line, but it is just as likely to be repelled by it...we just don't know. If it goes through it, I will consider a re-entry.
  • #527
  • Oct 28, 2011 10:03am Oct 28, 2011 10:03am
Quoting digf
I'm quite new to forex and am finding this thread very interesting. Lawgirl is using a Daily Linebox Indicator which I understand gives the spread of the first four candles of the day.
I have a couple of questions. 1. Could someone direct me to a post or article which explains the benefit of using this indicator?
2. I live in the UK so would I be better using one which gave the first candles for the London open?

Thanks so much to Lawgirl for all the work she puts into this thread helping so many people.
Hello digf

The benefit of the indicator is, go to the 1hr tf and go long/short in direction of the breakout.
Go to inputs and put in the start time of 7.00 and end time of 11.00.

Aj1
  • #528
  • Oct 28, 2011 10:05am Oct 28, 2011 10:05am
Quoting tradestar1
So do you also have some long term trades on while you are scalping the current market?
Only USDCAD on the H1 chart. Because I only trade/consider 3 pairs at a time...this is the only pair that looked to me like any longer time possibility/setup. But I am scalping GBPUSD at the same time. Staying out of EURUSD.

Trading systems/styles are not mutually exclusive.
  • #529
  • Oct 28, 2011 10:07am Oct 28, 2011 10:07am
Hit my TP out with 20 pips.
  • #530
  • Oct 28, 2011 10:08am Oct 28, 2011 10:08am
Hi Digf
I am in UK too, what I do is use the 1 hr break out indicator to cover all the asian session from 12.00am to 7am, when we are in bed basically, so in the morning London acts as a breakout, this is just the way I use the indicator instead of covering just 4 hrs it covers 7.
respect

Tom
  • #531
  • Oct 28, 2011 10:09am Oct 28, 2011 10:09am
Not doing well at this time. I did not wait for a good cross and may pay for it.
Attached Image
  • #532
  • Oct 28, 2011 10:10am Oct 28, 2011 10:10am
Quoting lawgirl21
Only USDCAD on the H1 chart. Because I only trade/consider 3 pairs at a time...this is the only pair that looked to me like any longer time possibility/setup. But I am scalping GBPUSD at the same time. Staying out of EURUSD.

Trading systems/styles are not mutually exclusive.
OK.... Just curious.
  • #533
  • Oct 28, 2011 10:12am Oct 28, 2011 10:12am
Quoting booktimes
Hi Digf
I am in UK too, what I do is use the 1 hr break out indicator to cover all the asian session from 12.00am to 7am, when we are in bed basically, so in the morning London acts as a breakout, this is just the way I use the indicator instead of covering just 4 hrs it covers 7.
respect

Tom
Alot of traders use the Asian market...I think I mentioned that a few pages ago. I am beginning to believe it does not much matter the TF marked and it certainly does not have to be exact. The lines are needed for reference, in my opinion.
  • #534
  • Oct 28, 2011 10:27am Oct 28, 2011 10:27am
Quoting babnz48
Hi JPassion, Is there a number of trades that one should stop at? I did 51 all up yesterday and put 18% on my pocket money live micro acc so there wasn't any thing to get the emotions going. Thanks for tip It got me thinking and I went back over the last few weeks and from the 29/9/11 to 7/10/11 on my demo acc I did 115% on 13 trades, so it comes down to quality of trades not the quantity, good point thanks. I must admit that did make me feel happy, so I will need to work on the emotion side if I do the same on my live acc. Once again...
Nice trading
  • #535
  • Oct 28, 2011 10:29am Oct 28, 2011 10:29am
Hi Lg
Yes I agree, I look at it as good s & r from a complete session
Tom
  • #536
  • Oct 28, 2011 10:29am Oct 28, 2011 10:29am
Quoting tradestar1
So I guess this system has gone from a Trend trading system to a scalping system?
Tradestar,

Actually, this is neither a scalping system nor a trend trading system. LG's brilliantly simple method consists primarily of watching two MAs on two different time frames. I used to trade stochastics the same way, but found them far too lagging for my taste.

Trading multiple timeframes is a smart way to trade, but you must constantly pay attention to the complexion of the market at any given time, as the market is constantly changing. You can apply LG's approach to any 'style' of trading including so-called scalping, depending not only on the market conditions you see in front of you, but on what best suits your individual personality, as well.

Greater trading experience will generally (hopefully) give you a more instinctive feel for how to trade any given market successfully, and most successful traders are able to change tactic as soon as they recognize that the nature of the day's market has shifted. Hope this helps.

Thanks LG, for your terrific insight, and your uncanny clarity. Very, very impressive. You are truly one of the great treasures here on FF.

Good trading to all...
Jeff Singer, K2KV
  • #537
  • Edited 10:55am Oct 28, 2011 10:45am | Edited 10:55am
Quoting k2kv
Tradestar,

Actually, this is neither a scalping system nor a trend trading system. LG's brilliantly simple method consists primarily of watching two MAs on two different time frames. I used to trade stochastics the same way, but found them far too lagging for my taste.

Trading multiple timeframes is a smart way to trade, but you must constantly pay attention to the complexion of the market at any given time, as the market is constantly changing. You can apply LG's approach to any 'style' of trading including so-called scalping, depending not...
Thanks for your lovely compliments, Jeff. I don't generally ask my husband to read any of the posts on the thread, but yours I will. He will be very pleased with your kind words, too, as he is so aware of the time committment involved in a ongoing thread. Thanks again...have a great weekend...you have made mine!
Rebecca
  • #538
  • Oct 28, 2011 10:56am Oct 28, 2011 10:56am
Quoting lawgirl21
Not doing well at this time. I did not wait for a good cross and may pay for it.
Out...-35 pips.
  • #539
  • Oct 28, 2011 10:57am Oct 28, 2011 10:57am
Quoting lawgirl21
Digf, look at the posted USDCAD chart above. I have put a TP at that bottom support line, which is the BO H1 4C line. It is acting as a barrier, if you will. That is the purpose of the BO lines.

Now price may shoot through that line, but it is just as likely to be repelled by it...we just don't know. If it goes through it, I will consider a re-entry.
Thanks for your help Lawgirl. I like the idea of this system. This is such a good and active thread with new posts seems to be every few minutes.
  • #540
  • Oct 28, 2011 10:59am Oct 28, 2011 10:59am
Quoting Aj1
Hello digf

The benefit of the indicator is, go to the 1hr tf and go long/short in direction of the breakout.
Go to inputs and put in the start time of 7.00 and end time of 11.00.

Aj1
Sorry to be a pain Aj1 but where is Inputs?

Forget what I've just written above I've just realised where it is.
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