Open/close cross | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Open: Button, Close: MA Cross 14 replies

5min open/close ma cross 39 replies

Royal Cross/Fresh Cross 7 replies

Seeking Correct Open/Close - It's Close but ... 0 replies

Alert for Ema Open-Close Cross 0 replies

Attachments: Open/close cross
Exit Attachments

Open/close cross

  • #141
  • Dec 8, 2011 5:19pm Dec 8, 2011 5:19pm
Quoting jiva34
Probably lose all three. GU still hanging on. AU bit the dust..
William would have to be pretty much off line until he can get a new computer system going.
Necessity dictates I only consider trading the one pair for any new trades. EU.
My friend, I like your spirit and your focus on the daily charts. However, understanding market seasonality will help you in trading the markets. The greatest dilemma traders have is knowing whether markets are trending or in a range. Of course hindsight is 20-20 when someone puts up a chart to show you a trade after the fact, but it really does not work like that in real time as you have found out.

In this regard understanding market seasonality is a way of knowing whether you should go for a home run, scale out or use a reduced profit target.

If you go thru the daily charts for the last 3 years you would have noticed that december and early january are not the best of months to trade because of the holiday season and low liquidity leading to erractic and range bound price action which your system is not optimised for.

Your system would work better from feb to may then skip the summer seasons due to the holidays. The period from late August until end of november will produce a harvest of pips for your system.

On a final note understanding market seasonality is key to being succesful in forex. Thus 'know thyself and know the markets and your bread and butter trades are guaranteed'.

Merry Xmas
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #142
  • Dec 8, 2011 5:54pm Dec 8, 2011 5:54pm
Quoting okehiedon
My friend, I like your spirit and your focus on the daily charts. However, understanding market seasonality will help you in trading the markets. The greatest dilemma traders have is knowing whether markets are trending or in a range. Of course hindsight is 20-20 when someone puts up a chart to show you a trade after the fact, but it really does not work like that in real time as you have found out.

In this regard understanding market seasonality is a way of knowing whether you should go for a home run, scale out or use a reduced profit target....
Excellent point. I kind of know that intuitively. But to hear you spell it out is helpful. Perhaps a scaling out technique does have a time and a place. Like what I have experienced in the last 4 trades in a sideways market possibly being caused by seasonality.
Trying to predict market activity is not practical. Since no can actually predict what will happen.

But if there is a proven correlation over enough time to seasonality then it might well be worth considering it and incorporate that into a strategy.

As we know there are times in the market during the trading days that are correlated with a certain type of action. London open for example..
I'll put some time into studying how seasonality may affect trading markets.
Do you have any links to articles discussing this, etc.?
Thanks..
  • #143
  • Dec 8, 2011 6:58pm Dec 8, 2011 6:58pm
Quoting okehiedon
My friend, I like your spirit and your focus on the daily charts. However, understanding market seasonality will help you in trading the markets. The greatest dilemma traders have is knowing whether markets are trending or in a range. Of course hindsight is 20-20 when someone puts up a chart to show you a trade after the fact, but it really does not work like that in real time as you have found out.

In this regard understanding market seasonality is a way of knowing whether you should go for a home run, scale out or use a reduced profit target....
In researching the past history of the data for EU over the last several years seasonality doesn't seem to hold a correlation to market activity.
Some of the biggest trends have actually taken place during the November December holiday season.
We have a tendency to want to predict what will happen.
  • #144
  • Dec 8, 2011 11:23pm Dec 8, 2011 11:23pm
Quoting jiva34
In researching the past history of the data for EU over the last several years seasonality doesn't seem to hold a correlation to market activity.
Some of the biggest trends have actually taken place during the November December holiday season.
We have a tendency to want to predict what will happen.
Now your getting it.....
S/R, seasonality, fibs, the list goes on and on..... these things, while they have there own uses DO NOT apply to this method......
  • #145
  • Dec 8, 2011 11:32pm Dec 8, 2011 11:32pm
Plan is to only trade the EU. Take every signal. Enter initially with 1% if the trade is bad, stopped out at 1 ATR if the trade is good close with a cross opposite, trail 2 ATR, and add to the position .5% as it goes.
This is starting to make sense. Start out small and if the trade is bad the loss is small. If the trade is good add to it.
Pretty much the exact opposite of what I had been accustomed to do. Start out big if trade was bad big loss, if the trade was good keep reducing the position.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 57 KB
  • #146
  • Dec 8, 2011 11:39pm Dec 8, 2011 11:39pm
Quoting tradestar1
Now your getting it.....
S/R, seasonality, fibs, the list goes on and on..... these things, while they have there own uses DO NOT apply to this method......
yes, boss...
  • #147
  • Dec 9, 2011 5:06am Dec 9, 2011 5:06am
another bad trade.
Sometimes there is a series of losses. But to not take a signal means I could miss a run.
It's not something I really want to do. Take a series of losses. But it is part of the strategy. After those nice gains last few weeks I knew I would hit this volatility. I'll stay with it. Because the gains overall are much greater than the series of small losses.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 50 KB
  • #148
  • Dec 9, 2011 9:33am Dec 9, 2011 9:33am
Why did you take that trade? I thought the 21 had to be bearish before, or at least give a signal at the same time with, the 5.5.
  • #149
  • Dec 9, 2011 9:36am Dec 9, 2011 9:36am
Quoting jiva34
another bad trade.
Sometimes there is a series of losses. But to not take a signal means I could miss a run.
It's not something I really want to do. Take a series of losses. But it is part of the strategy. After those nice gains last few weeks I knew I would hit this volatility. I'll stay with it. Because the gains overall are much greater than the series of small losses.
It's been a tough week to trade for everyone, the markets are ranging and only reacting to announcements out of The Euro Zone. I set up your template on the daily's and think that it looks pretty good!
Take your lumps now and it'll pay off later!
Thanks For Starting the Thread
  • #150
  • Dec 9, 2011 10:10am Dec 9, 2011 10:10am
This system has worked really well on the M1 today, have you tried scalping, jiva?
  • #151
  • Dec 9, 2011 8:40pm Dec 9, 2011 8:40pm
Quoting Trucomallica
Why did you take that trade? I thought the 21 had to be bearish before, or at least give a signal at the same time with, the 5.5.
It was. gmt 0 at candle open...

The classic mistake is to not take signals after a few losses, but that's when the big move comes, after a few losses, and then miss the big move. Just have to ride it out. Fortunately I have enough of a gain accumulated that I am not having to dip into start up capital. When it breaks out of this it should be a healthy move in one direction or another. Which way it goes no one knows for sure. Lots of people will guess and analyze, but ultimately no one knows...
  • #152
  • Dec 9, 2011 8:42pm Dec 9, 2011 8:42pm
Quoting DaTrader
It's been a tough week to trade for everyone, the markets are ranging and only reacting to announcements out of The Euro Zone. I set up your template on the daily's and think that it looks pretty good!
Take your lumps now and it'll pay off later!
Thanks For Starting the Thread
Thanks for the support. The system is good. We have a veteran who has been trading it very successfully for quite some time coaching us in the background.
  • #153
  • Dec 9, 2011 8:46pm Dec 9, 2011 8:46pm
Quoting Trucomallica
This system has worked really well on the M1 today, have you tried scalping, jiva?
I've been a scalping addict. Am trying to steer away from the lower time frames. I still play with them and robots on a demo but no money.....
It's different state of mind for me to try to trade those lower frames. I want to cultivate the state of mind needed for day charts.
  • #154
  • Dec 10, 2011 11:43am Dec 10, 2011 11:43am
Hey. I found the perfect indicator!!!!!
Check this out. Predicts the future....
The indicator to end all indicators.....
Attached Image (click to enlarge)
Click to Enlarge Name: crystal.gif Size: 42 KB
Attached File(s)
File Type: ex4 Crystal Ball.ex4   3 KB | 523 downloads
  • #155
  • Dec 10, 2011 1:14pm Dec 10, 2011 1:14pm
I kinda like this one for all my executive and trade disicions........ 8 Ball
  • #156
  • Dec 10, 2011 11:08pm Dec 10, 2011 11:08pm
Quoting tradestar1
I kinda like this one for all my executive and trade disicions........ 8 Ball
Interesting. I'll run some tests on it next week.
  • #157
  • Dec 11, 2011 2:45am Dec 11, 2011 2:45am
Dear Jiva,

Due to my schedule, I have not gotten a chance to trade the system, except following the thread when it was started last month or so. So without putting in "chart time" yet on my part, my questions below may be stupid, please bear with me!

I took some quotes from post 1 where I have questions:

Quoting jiva34
...
I use 15 of balance to enter add to position if trade is trending. No more than 2% at risk total.
Do you mean 1.5% of balance to enter position, and then 0.5% to add to a position? Since we are not risking more than 2%, so given current idea, we can add to a position only once.

This 0.5% will have its own stoploss and trailing stop, independent of the first 1.5%, i.e., essentially it is a separate trade by itself?

Quoting jiva34
...
exit stopped out or new signal in opposite direction.
By "new signal in opposite direction", you meant that I need both the 5,5 cross down over and the 21 LSMA must be down in order to close the trade, assuming I have a long trade in place?

I ask this because if I used just the 5,5 cross over to exit a trade, then there may be many situations where I could not really apply the "0.5% position on pull-back" concept, because the main trade has already exited due to pull-back.

Thanks and appreciate your sharing!
  • #158
  • Dec 11, 2011 10:50pm Dec 11, 2011 10:50pm
ff offers a great tracking service.
sign up your demo or live account...
http://www.forexfactory.com/trades.php
  • #159
  • Dec 11, 2011 10:54pm Dec 11, 2011 10:54pm
Quoting zeropoint
Dear Jiva,

Due to my schedule, I have not gotten a chance to trade the system, except following the thread when it was started last month or so. So without putting in "chart time" yet on my part, my questions below may be stupid, please bear with me!

I took some quotes from post 1 where I have questions:



Do you mean 1.5% of balance to enter position, and then 0.5% to add to a position? Since we are not risking more than 2%, so given current idea, we can add to a position only once.

[u]This 0.5% will have its own stoploss and...
>>>Do you mean 1.5% of balance to enter position, and then 0.5% to add to a position? Since we are not risking more than 2%, so given current idea, we can add to a position only once.<<<

oops typo... meant 1%....

>>>This 0.5% will have its own stoploss and trailing stop, independent of the first 1.5%, i.e., essentially it is a separate trade by itself?

By "new signal in opposite direction", you meant that I need both the 5,5 cross down over and the 21 LSMA must be down in order to close the trade, assuming I have a long trade in place?<<<

yes these are both correct.
  • #160
  • Dec 11, 2011 11:04pm Dec 11, 2011 11:04pm
only trading EU for now. No trade EU today...
1 trader viewing now