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  • #41
  • Dec 4, 2011 9:56am Dec 4, 2011 9:56am
look at this trade

SL is 4 pips therefore TP is 8 pips

Most people getting a 4 pip win would think great £40 win !

I think

10k account

5% risk = £500 / 4 pips stop loss = £125 per pip using spread betting account

I win 8 pips which is a 10% return in this case I make 8 x £125 = £1000

Big difference from £40 because my risk reward is linked to my % gain

Think % NOT pips
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  • #42
  • Dec 4, 2011 12:48pm Dec 4, 2011 12:48pm
Ya ever let the profits run or always have a predetermined take profit?

thank you
  • #43
  • Edited 2:54pm Dec 4, 2011 1:10pm | Edited 2:54pm
Quoting Paulus
look at this trade

SL is 4 pips therefore TP is 8 pips

Most people getting a 4 pip win would think great £40 win !

I think

10k account

5% risk = £500 / 4 pips stop loss = £125 per pip using spread betting account

I win 8 pips which is a 10% return in this case I make 8 x £125 = £1000

Big difference from £40 because my risk reward is linked to my % gain

Think % NOT pips
I completely agree.... I see so many methods here where you have to use 20 - 30 pip stop losses... the reason for that is because the entry is so imprecise. I'd rather use a 5-6 pip stop loss on a precision entry, get stopped out, and then re-enter at the correct location - instead of just entering randomly in the middle of a move and watch price dance around.

I've been trading this with great success as well Paulus, solely on EU and AU. I have also included a 5,3,3 stochastic as well as a 9 and 18 EMA to catch trades in a really fast move. So as long as the very fast stoch pulls back into OB/OS, and the other two stochs aren't showing any color, I wait for the color to go away on the short stoch and take the trade. Sort of a "floor trader stochastic slingshot"

I've also found that your short stoch combined with the 5,3,3 short stoch can be traded very well together (i.e. when they are both showing color) as long as the long stoch isn't showing any colour (i.e. not overbought or oversold)

Anyway, thanks for the method, I think you are right in waiting for the quick stoch to leave the OB/OS area. One question... it looks like you switched the settings on the quick stoch... how come?
Small disciplines repeated with consistency lead to great achievements.
  • #44
  • Dec 4, 2011 7:47pm Dec 4, 2011 7:47pm
Quoting SteMag
Makes sense

Started my forward test on EU, GU, EJ, UC, however i will see if i'm able to follow all those pairs together on the 1min
hi. is there any reason to try it on those. all 4 are correlated esp as U/J hardly moves. e.g. EU,GU,EJ move the same direction. UC moves the same way, but on the opposite direction, and Eurocad hardly moves thru the year(range is not high imo) validating my point

i would try it eu, au, ea, ec, gold perhaps. these all have low spread ECN broker.

hi paulus this looks promising system.
  • #45
  • Dec 4, 2011 11:14pm Dec 4, 2011 11:14pm
Quoting Halba
hi. is there any reason to try it on those. all 4 are correlated esp as U/J hardly moves. e.g. EU,GU,EJ move the same direction. UC moves the same way, but on the opposite direction, and Eurocad hardly moves thru the year(range is not high imo) validating my point

i would try it eu, au, ea, ec, gold perhaps. these all have low spread ECN broker.

hi paulus this looks promising system.
Au works very well, even more so than Eu in my several weeks trading this. spread isn't as good, for me, however, but not really an issue as you're looking for 10 pips at a minimum usually. The indications come at different times (for au and eu), but I won't take a trade in one or the other if i'm already in a trade on the other.
Small disciplines repeated with consistency lead to great achievements.
  • #46
  • Dec 5, 2011 12:05am Dec 5, 2011 12:05am
hi jm the broker u should change to is pepperstone.com only 0.5 pip for au duringy london
comission only 7.50 round turn
  • #47
  • Dec 5, 2011 12:14am Dec 5, 2011 12:14am
Quoting jmflukeiii

I've also found that your short stoch combined with the 5,3,3 short stoch can be traded very well together (i.e. when they are both showing color) as long as the long stoch isn't showing any colour (i.e. not overbought or oversold)

Anyway, thanks for the method, I think you are right in waiting for the quick stoch to leave the OB/OS area. One question... it looks like you switched the settings on the quick stoch... how come?
I needed it to react quicker as I was now using the move from below 20 or above 80 going through the line

This got me in a candle sooner and worked allot better

P
  • #48
  • Dec 5, 2011 12:24am Dec 5, 2011 12:24am
Quoting Halba
hi jm the broker u should change to is pepperstone.com only 0.5 pip for au duringy london
comission only 7.50 round turn
I've been trading this on my TD account where the bad spreads are. Its sort of my "trial account".

I'll be moving this sytem to my trading on my Interactive Brokers account shortly as its been working very well for me. IB has .5 spread commissioned trades as well - $5 per round trip.

Thank you for the advice though - I'm not sure if pepperstone is only spot forex. Both TD and IB allow me to trade pretty much any security I want which is something I do take advantage of.
Small disciplines repeated with consistency lead to great achievements.
  • #49
  • Edited 12:51am Dec 5, 2011 12:34am | Edited 12:51am
Quoting Paulus
I needed it to react quicker as I was now using the move from below 20 or above 80 going through the line

This got me in a candle sooner and worked allot better

P
Do you wait for the color to go away, i.e. for the green to go away when coming out of overbought, or are you just eyeballing the 20 level to take the trade?\

EDIT: I'm going to trade with a 15,2,9 short stoch tonight. It doesn't look as messy as the 15,1,9 but looks to be a bar sooner than the 15,3,9
Small disciplines repeated with consistency lead to great achievements.
  • #50
  • Dec 6, 2011 12:11am Dec 6, 2011 12:11am
Quoting jmflukeiii
Do you wait for the color to go away, i.e. for the green to go away when coming out of overbought, or are you just eyeballing the 20 level to take the trade?

EDIT: I'm going to trade with a 15,2,9 short stoch tonight. It doesn't look as messy as the 15,1,9 but looks to be a bar sooner than the 15,3,9

up through 20 Green to grey
Down through 80 red to grey

we seem to get some very nice signals in the session

London closes..Sydney opens and before Tokyo opens

P
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  • #51
  • Dec 6, 2011 12:27am Dec 6, 2011 12:27am
yes there was a clear winner there good pips asian session

thats why if u want to be full time trader u need to be alert all sessions sleep cycle permitting . if no signal just keep the screen open but read a book nearby.

e.g. im sydney so i should be trading sydney, frankfurt, and london open 1st hr, and new york afternoon to close
  • #52
  • Dec 6, 2011 6:06am Dec 6, 2011 6:06am
Hi, Paulus. Great threads!
If it`s not a secret - what broker do you use?
I guess it has to be the broker with extremely low spreads and ultra fast execution? Thanks.
Made in Ukraine
  • #53
  • Dec 6, 2011 9:36am Dec 6, 2011 9:36am
Interesting approach, JM
Could you show an example or two of how you implement your trade using the additional indies?
Thanks much,
Cliff


Quoting jmflukeiii
I completely agree.... I see so many methods here where you have to use 20 - 30 pip stop losses... the reason for that is because the entry is so imprecise. I'd rather use a 5-6 pip stop loss on a precision entry, get stopped out, and then re-enter at the correct location - instead of just entering randomly in the middle of a move and watch price dance around.

I've been trading this with great success as well Paulus, solely on EU and AU. I have also included a 5,3,3 stochastic as well as a 9 and 18 EMA to catch trades in a really fast move....
I get exercise just pushing my luck
  • #54
  • Dec 7, 2011 2:07am Dec 7, 2011 2:07am
long eu @ 1.34368
edit: the moment, I posted it: S/L hit.
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  • #55
  • Dec 7, 2011 2:12am Dec 7, 2011 2:12am
long eu @ 1.34351
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  • #56
  • Dec 7, 2011 2:32am Dec 7, 2011 2:32am
Forget m1 charts... use Range Bar charts, much better... I'm using something very similar to this.

Instead I'm using 100 ema, 50 ema combined with 100/1/1 stochastic above or below 50 level for trend.

Stochastic 14/1/1 80/20 for pull back, RSI 5 above below 50 level for entry.
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  • #57
  • Dec 7, 2011 2:36am Dec 7, 2011 2:36am
long eu: target hit: 1 win, 1 loss, so overall win until now. (post 54 + 55)
  • #58
  • Dec 7, 2011 2:43am Dec 7, 2011 2:43am
long gu @ 1.56095

EDIT!!!!! I made a mistake: the the 63 ema was already between the other MA's.
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  • #59
  • Dec 7, 2011 2:49am Dec 7, 2011 2:49am
As I made a mistake at the gu long (MA's not in order), I closed the trade early with a small win.
Edit: nevertheless, it would have been a full win!
  • #60
  • Dec 7, 2011 2:55am Dec 7, 2011 2:55am
Quoting Musashi
Forget m1 charts... use Range Bar charts, much better... I'm using something very similar to this.

Instead I'm using 100 ema, 50 ema combined with 100/1/1 stochastic above or below 50 level for trend.

Stochastic 14/1/1 80/20 for pull back, RSI 5 above below 50 level for entry.
nice system could u post ure .tpl im interested in having a look. i see range bar charts on nexas's thread i know how to use
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