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Open/close cross

  • #201
  • Dec 16, 2011 3:41am Dec 16, 2011 3:41am
Jiva,

Looks like you have a good system. I will be keeping tabs on thread!
PIP'N
  • #202
  • Dec 16, 2011 3:46am Dec 16, 2011 3:46am
Quoting golferguy99
Jiva,

Looks like you have a good system. I will be keeping tabs on thread!
The best,,,, Welcome,,,
  • #203
  • Dec 16, 2011 3:59am Dec 16, 2011 3:59am
Hi All

I think this system is excellent! Technically simple to follow and brings in the pips :-)

Whilst waiting for the D1 setups I've been looking at lower TF's for more setups and after looking at a few, right down to M1, I'm thinking that H1 is good for a shorter term strategy. Just need an EA to trail at 2ATR and close on the opposite signal, I've adapted Steve's MPTM to do the former, just need to get enough setups to test properly.

Have a look, XAG and XAU are particularly good if you get in at the start of the trend.

If this is too far off topic, just let me know and I'll stick to the D1 TF.

Cheers

Paul
  • #204
  • Dec 16, 2011 4:15am Dec 16, 2011 4:15am
Quoting batemap
Hi All

I think this system is excellent! Technically simple to follow and brings in the pips :-)

Whilst waiting for the D1 setups I've been looking at lower TF's for more setups and after looking at a few, right down to M1, I'm thinking that H1 is good for a shorter term strategy. Just need an EA to trail at 2ATR and close on the opposite signal, I've adapted Steve's MPTM to do the former, just need to get enough setups to test properly.

Have a look, XAG and XAU are particularly good if you get in at the start of the trend.

If this is too far...
It's my thread but I have a mentor who's pretty strict. I can hear him now, Day chart only and no lower times. No eas. No indis.

Not that these can't be done, just not here. He makes boodles of pips. I'm with him...
  • #205
  • Dec 16, 2011 4:19am Dec 16, 2011 4:19am
Hi Jiva,

First of all excellent strategy that you've got here, thanks for sharing.....I just wanted to ask you that if the ATR(20) is showing 15 does that mean we multiply it by 10 times which give us the day range of 150 pips and when you say that you have a stop at 2 ATR does that mean we need to multiply 150 X 2?

Looking forward to your reply..

Regards

Ali Raza
Raza
  • #206
  • Dec 16, 2011 4:25am Dec 16, 2011 4:25am
Quoting shr5
Hi Jiva,

First of all excellent strategy that you've got here, thanks for sharing.....I just wanted to ask you that if the ATR(20) is showing 15 does that mean we multiply it by 10 times which give us the day range of 150 pips and when you say that you have a stop at 2 ATR does that mean we need to multiply 150 X 2?

Looking forward to your reply..

Regards

Ali Raza
Not sure why ATR would say 15, but on the day chart we know it wouldn't be 15. It would be more like 150.
so yes 2ATR would be 150X 2.
good luck... keep us posted on your progress.
  • #207
  • Dec 16, 2011 7:22am Dec 16, 2011 7:22am
placing small add on short limit order,
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  • #208
  • Dec 16, 2011 8:28am Dec 16, 2011 8:28am
Quoting jiva34
It's my thread but I have a mentor who's pretty strict. I can hear him now, Day chart only and no lower times. No eas. No indis.

Not that these can't be done, just not here.
  • #209
  • Dec 16, 2011 11:52am Dec 16, 2011 11:52am
Limit short add on filled...
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  • #210
  • Dec 16, 2011 10:38pm Dec 16, 2011 10:38pm
Quoting jiva34
It's my thread but I have a mentor who's pretty strict. I can hear him now, Day chart only and no lower times. No eas. No indis.

Not that these can't be done, just not here. He makes boodles of pips. I'm with him...
No problem, the D1 looks excellent, just a bit slow this time of year.
I'll start on the D1 in the New Year!

Thanks

Paul
  • #211
  • Dec 20, 2011 7:59am Dec 20, 2011 7:59am
Closed out EU short.
5,5 was crossed up candle open.
the added position was a small loss, -.06% 0f equity
original position nice gain +2% of equity
Out of market altogether.
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  • #212
  • Dec 20, 2011 10:30am Dec 20, 2011 10:30am
Why did you close the original trade?? I'm still in it, but with no adds.
  • #213
  • Dec 20, 2011 11:02am Dec 20, 2011 11:02am
Quoting Trucomallica
Why did you close the original trade?? I'm still in it, but with no adds.
When the new candle formed there was a cross up. I usually like to wait for the candle to close and the arrow to from but it is not always the case. It is enough if there is a cross when the new candle is just starting to form.
It was easier to see on Oanda fx than mt4.
I could have stayed short or closed. Either way. I chose to close and then look to re-enter.
I would like to see a green arrow confirmed with today's candle close, and then see a red arrow to re-enter short.

I just chose to exit right away. Myabe if I didn't have the add on I would have stayed in.

I think you are alright to stay short. If there is a green arrow it would be good to get out.

My teacher does not use the lsma. But he says he likes it very much. He is impressed with it's functionality and says I should use it.

Sometimes he doesn't use any trend filter at all and sometimes he uses a variety of moving averages to filter the trend. He trades several systems at the same time.

I find the lsma makes a big difference. I was going to stay in even if there was green arrow if the lsma was still red. But when push came to shove and I saw the cross at the candle open I decided just to exit. I can always get back in if there is the opportunity.

There is some lee way to make a decision at the candle open. if there is a cross it can be used even if the arrow does not form yet. Just once the decision is made to enter (or exit) then the rules for the trade should be followed. But there is a choice at candle open... even if there is no arrow. But waiting for the arrow is always good. The overall gain will be there. A little more aggressive not to wait for the arrow if the 5,5 are crossing at candle open but there is no arrow.
  • #214
  • Dec 20, 2011 11:12am Dec 20, 2011 11:12am
I'm out of E/U as well. Still in long on G/A. I'm positive overall but definitely got some drawdown today.
  • #215
  • Dec 20, 2011 5:23pm Dec 20, 2011 5:23pm
My daily just opened and I'm in Usd/Cad short at 1.03010
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  • #216
  • Dec 20, 2011 5:34pm Dec 20, 2011 5:34pm
The 21 is against your trade. I'm long AUDCAD on 2% risk, 8% total. With four positions it will be easier to avoid correlations.
  • #217
  • Dec 20, 2011 9:25pm Dec 20, 2011 9:25pm
Quoting Trucomallica
The 21 is against your trade. I'm long AUDCAD on 2% risk, 8% total. With four positions it will be easier to avoid correlations.

You're right...I saw the sell arrow and spaced out the 21 .
  • #218
  • Dec 20, 2011 10:14pm Dec 20, 2011 10:14pm
Quoting spyderman
You're right...I saw the sell arrow and spaced out the 21 .
Don't worry, it happens. I changed the colors on that indicator, I think it helps me
  • #219
  • Dec 20, 2011 11:16pm Dec 20, 2011 11:16pm
Quoting spyderman
You're right...I saw the sell arrow and spaced out the 21 .
If you think you entered a trade incorrectly it is better to exit rather than to wait and "hope" it goes in your favor.
  • #220
  • Dec 20, 2011 11:28pm Dec 20, 2011 11:28pm
Okay. I've got my cross up and green arrow.
21 is still down, so now I'm looking for a cross down and/or red arrow to get back in short...
I'm just trading EU for the next little while.
No trade today.
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