u think u can post your pivot display n daily range indy?
Many thanks
ç¦ å Victor V
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DislikedJurn,
u think u can post your pivot display n daily range indy?
Many thanksIgnored
DislikedHi everyone,
Here is a difficult exercise: trading GU in a ranging market.....not for everyone, but let's try it.
I have special set-up for GU, but I trade same way other pairs...
At first how I know we are in a ranging market ????.....easy I have 2 Semafor 3 without spike
Other important issue: bottom line of price channel is in last 6th of my chart....so I'll trade only upside
Now the trade: [email protected] (magenta line)and TP 1.5559 (yellow line) for 33 pips SL 1.55
EDIT: 12:04 GMT moved my SL to 1.553
GL to me and enjoyIgnored
DislikedThis kind of system can be trusted especially in trending markets.....but when market is in yoyo session....Ignored
Dislikedthanks for the input JJ, nice trade.
in M1/M5, the system loves yoyo if the chop is wide enough; cable was a pip machine today. the key is: don't stay in trades, bag your 20-40 pips and trust the next signal. But we are 'programmed' to anticipate a trendy move - greed tends to hold us in the trade while fear from breakout blocks us from reversing , that's why range trading is so hard.
Regarding this, i have a lot to learn and improve. i'm ok with horizontal yoyo, updrift/downdrift yoyo, wedge and triangle yoyos.. my problem comes when...Ignored
DislikedAll we have to do is follow the system.....why do we find that so hard to do?Ignored
Dislikedexcellent post, many thanks for that.
it's true, at least to some extent. I think another psyche-related aspect (this time with rating our trades) is to pinpoint our failures (=if i did it mechanically, it would be ok) and take the successful 'outsmarts' (=that's obvious nonsense, i don't take the trade) for granted and disregard their benefits.. but both are 'not following the system', thus violating the rules. I still have my doubts about trading this system mechanically. Maybe I don't understand 'mechanical'.. for me, a mechanical system can...Ignored
Dislikedthanks for the input JJ, nice trade.
in M1/M5, the system loves yoyo if the chop is wide enough; cable was a pip machine today. the key is: don't stay in trades, bag your 20-40 pips and trust the next signal. But we are 'programmed' to anticipate a trendy move - greed tends to hold us in the trade while fear from breakout blocks us from reversing , that's why range trading is so hard.Ignored
DislikedI'll take a loss no problem, but the gains have to be bigger and more frequent than the losses!!!Ignored
DislikedCan't put it any better, this should be read in tenfold each morning before the start of trading by anyone that trades those short timeframes.Ignored
Dislikedwell, combined exactly with the 'in the long run' condition, that's the problem with any EA.. anything i have seen (including dissected commercial EAs) was curve-fitted, mostly with absurd R:R ratio.
Optimization is one of the pitfalls - i can make an EA now with a simple MA cross, add a stoch or wpr and run the optimizer overnight thru some period - say 2010-> now and gauge MA periods, oscillator parameters, optimal stops and optimal targets. Tomorrow i will show you a backtest with real tick data and spread and it will look like a holy...Ignored
DislikedRJ, you and all who are helping others in this thread, thank you very much.
I have used your template and have developed an EA that move the SL at a fixed distance from a moving average.
The default values correspond to the SMA 5 Shift 2 and the SL will always be to a default distance of 0 pips.
parameters:
MAGIC_NUMBER: Default 0. If 0, all open orders in the pair are modified, else only those with the entered Magicnumber
MA: Default 5
OFFSET: Default 2
METHOD (0:sma, 1:ema, 2:smma, 3:lwma): Default 0
APPLY_TO (0:close, 1:open,...Ignored
DislikedAs Eval just showed us....taking every signal blindly.....one after the other, is profitable. Yes there are some losses, but good trades run profitably to the bitter end.....and I think the same is true of many, many systems. I think most systems can be profitable, but we have to surrender our ego's to the system and just follow along. The minute we think we know better, greed takes over and we get smacked.....which leads to fear.....which leads to more bad trades.
[i][b]All we have to do is follow the system.....why do we find...Ignored
DislikedRJ, you and all who are helping others in this thread, thank you very much.
I have used your template and have developed an EA that move the SL at a fixed distance from a moving average.
The default values correspond to the SMA 5 Shift 2 and the SL will always be to a default distance of 0 pips.
You can continue running the order manually, ie, close the order when you want or stop EA when you want. The only thing EA does is move the SL by the MA.
I welcome your comments.
Note: you must open the order as it does now, manually....Ignored
DislikedRJ,
What you have just said happened to me! Why we just can't follow the system? It has be proven since the day this thread was started and many people profit from it. What more proof do you want? You do not need years of experience and knowledge in the market to make money with this system.
Like you said, ego. This is the killer. I'm going to throw away my ego and just follow the system.
Cheers to allIgnored
DislikedEasy to say......hard to do.....lol.....I keep getting smacked......must be some kind of masochist!!Ignored
DislikedYes, I don't think it's possible to be completely mechanical.....not 100%. There is still some discretion involved. For instance, there was short signal during the EU session yesterday, but the M5 stochastic was well into the oversold territory......so for me personally, it wasn't a signal at all.....but as far as the system is concerned, it was a green light to go short. I didn't take the trade, and my doubts were soon vindicated when the pa reversed.Ignored
Dislikedthen EU just fell to 1.3295. your doubts were correct after all! i don't know what price you saw back then but i entered a sell at 1.3371. there was a floating loss of as it went to 1.3409 but did not hit the 50 SL and i have taken out the sell less than 30 mins ago at 1.3295 = 76 pips with the aid of MJ's no-refresh trendline! please see attached picture. i mentioned in my post before this, that nov 24 is a bear then nov25 is range mkt (i can be wrong today....) admitingly, i kinda cheated coz...Ignored