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  • #161
  • Jan 5, 2012 4:08pm Jan 5, 2012 4:08pm
Quoting Erebus
I will try to answer as best I can, but please remember, it is only a new trading year and same as other followers here on Synergy CRS, I am finding my way with this excellent method.

I like it because the method is price based; we all know currency moves a certain amount everyday, this can be measured - it is how we watch the movement and see the action that determines whether or not we can take advantage of that daily movement.

Method:

1. Yes, I am only concentrate on the Regular Trade (RGT) - the Counter Trend Trades (CTT) take a lot...
Thank you very much. Everything is really clear now. Sorry about the ADR lines, I thought they were fixed
  • #162
  • Jan 5, 2012 4:09pm Jan 5, 2012 4:09pm
Here is the results of my DEMO account so far, using a NOT recommended 5% RISK

There are 2 losers, one was carried over from previous day, should have exit but I wanted to watch the new day's lines plot and see where it went; the other was an unlucky entry due to spike from news. All other trades more conventional and I have posted most of the charts. Only a small sample size, see where we go as 2012 progress.

Of more importance, please note the calculation for POSITION SIZE, if the number of pips entered for stop loss changes, the position size will change, BUT the RISK will never change (in this case $1,250)

This is absolutely critical concept to understand, and most new traders do not take time to absorb, they just think 1 lot and 50 pips is good enough - fixed lot size and pip size is never the way to trade, YMMV.

Go to this website and have a play with this Calculator to see what I mean -

http://www.earnforex.com/position-size-calculator

Hope that helps someone, someday
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  • #163
  • Jan 5, 2012 4:29pm Jan 5, 2012 4:29pm
Quote
This is absolutely critical concept to understand, and most new traders do not take time to absorb, they just think 1 lot and 50 pips is good enough - fixed lot size and pip size is never the way to trade, YMMV.
Erebus, I'm assuming you are stating this as an opinion, because I would have to disagree a little here, no disrespect though. The are strategies out there that are strictly reliant on adjusting the lot size in relation to risk percentage and stop loss factors to be profitable. But because we are using a strictly technical strategy here that involve specific recovery ratios and increasing lot sizes on losses, fixed lot sizes are extremely important to this strategies success.

Now I'm not saying that you cannot increase your base lot size to match the account growth, but I've always been taught not to increase the base lot size unless we have achieved 100% account grow. In my case for example using a base lot size of .01 lots on a $1000 account, I would not increase my lots until I have reached $2000, then my lot size would increase to .02 lots. But again, that's what I've been taught and it's just the way I do things. I do like the calculator though .
  • #164
  • Jan 5, 2012 6:39pm Jan 5, 2012 6:39pm
Little video I came across, pretty much explains the Regular Trade entry

http://youtu.be/IFJFuJ6-tQY
It takes a lot for me to IGNORE you, but you can try.
  • #165
  • Jan 5, 2012 7:52pm Jan 5, 2012 7:52pm
That's funny!!!
  • #166
  • Jan 6, 2012 1:48am Jan 6, 2012 1:48am
Quoting Erebus
Little video I came across, pretty much explains the Regular Trade entry

http://youtu.be/IFJFuJ6-tQY
Wow, too much sophisticated for me............

Anyway, today is a holiday day here in Spain and big news today so no trades for me......

Good luck to everyone.

Cheers
  • #167
  • Jan 6, 2012 7:47am Jan 6, 2012 7:47am
you seem so excited Erebus ! go go ...but beware ha! do not be too confident
  • #168
  • Jan 6, 2012 9:02am Jan 6, 2012 9:02am
Ok, I am not a 'chart' person,so the way I saw the action today was that you were unlucky on a reversal 4 units from 2811 back to 2770 ; other than that you came out of it well. The perfect scenerio was if you got your 4 unit price at ~+ 20 and then it rolled off as the initial SELL was 'covered'.

Did I get that right?
  • #169
  • Jan 6, 2012 12:48pm Jan 6, 2012 12:48pm
Ok,the scalp trade got hit but the reg trade came through fine.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #170
  • Jan 6, 2012 1:53pm Jan 6, 2012 1:53pm
Quoting Line-Trader
Ok,the scalp trade got hit but the reg trade came through fine.
You are a man of few words Line-Trader, so I will assume that you are about the EUR-USD ?

I shutdown yesterday, actually had orders in place but chickened out & deleted them, even in demo - take note seqburn

Anyway, looks to me that there would be 1 failed Scalp but then there is a chance for another which would be good trade? the 107 line not on my chart, so I'm going by memory...

For Regular Trade, 123.6 and 138.2 were made, and with 138.2 lined up with the ADR, that would be great exit, Non-Farm Payroll didn't cause too much upset as it has in the past.

Have a good weekend all
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  • #171
  • Edited 3:58pm Jan 6, 2012 3:36pm | Edited 3:58pm
Because everyone is using different brokers, everyone is going to have different result as 00:00 GMT will line up differently. Look at mine for example, I had 1 bad scalp, a bad CT 1 trade (next will be .08 lots), a good Scalp @ .02 lots, and a good Regular Trade. The bad CT 1 trade hurt, but we will get that back next week, I'm sure of it.

Normally Erebus, I stay out of the market with NFP as well, but I had to see how the system would stand up to it. NFP was really weak today which surprised the heck out of me, but again, nothing ever surprises me anymore in this market.

Erebus, I wanted to ask you something about the ADR indicator in post #69. How do we get the indicator to show this (see pic) or is the info on the bottom left a separate indicator? Also, do you have the mq4 file of this indicator just the ex4?
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  • #172
  • Jan 6, 2012 10:56pm Jan 6, 2012 10:56pm
Quoting mer071898
Because everyone is using different brokers, everyone is going to have different result as 00:00 GMT will line up differently.

Erebus, I wanted to ask you something about the ADR indicator in post #69. How do we get the indicator to show this (see pic) or is the info on the bottom left a separate indicator? Also, do you have the mq4 file of this indicator just the ex4?
Yes, I have different prices between real account and demo account due to the broker rollover time, doesn't worry me much.

The indicator from Post 69 - I do not have the ex4 file, sorry, I only found that recently somewhere while trawling the internet, not even sure where anymore.

I like it because the HIGH and LOW lines that it plots are from the CURRENT high & low of the day; when price moves down, both the lines will move down until the HIGH line meets the actual high price = both lines then change from DOTTED to SOLID lines to warn that the ADR for last 14 days has been met.

Refer to chart example. And yes, the data in the lower left chart is from a propitiatory indicator from Compass FX, they code it with my name on it, so I usually delete that part and also, don't want to be accused of commercial promotion.

Basically it plots a HIGH & LOW, as shown by the tags, from the daily open to indicate the range price may go between - these are FIXED and do not move during the day. You can change the number of days settings, 5 was default but I changed to 14 to check the figures with the other ADR indicator.

You can Google for Compass FX and view videos about it if interested. It is OK, I have seen the GBP-USD go to the high price, and I'm thinking this is going straight up, and then a few candles later, it will be down at the low price.
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  • #173
  • Jan 7, 2012 2:27pm Jan 7, 2012 2:27pm
Here are the Jan 6 Trades

No Ct
R1 TP
R2 TP
R3 BE @ 7%

Cheers

Pat
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  • #174
  • Jan 8, 2012 3:23pm Jan 8, 2012 3:23pm
Quote
Here are the Jan 6 Trades

No Ct
R1 TP
R2 TP
R3 BE @ 7%

Cheers

Pat
Hey Pat, Which broker are you using? I'm asking because I had a CT 1 trade triggered and if I had 3 RT trades going, RT 2 & 3 would have been stopped out at the 107 fib extension (see pic). Unless you let us know which broker you're using, it's hard for everyone to get the proper comparisons going.

If your RT 2 did hit target, RT 3's stoploss should have been moved up to RT 2's target and not left at the 107 fib extension.
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  • #175
  • Jan 8, 2012 5:12pm Jan 8, 2012 5:12pm
Just so everyone knows, if you have a price gap when trading starts like on FinFX, you must wait until a candle closes within the new high/low area before any trades become valid entries.
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  • #176
  • Jan 8, 2012 7:06pm Jan 8, 2012 7:06pm
I'm wondering if the GMT brokers are better (chart wise only) for plotting this method indicators?

See picture of 2 brokers but 2 hours different, 1 has entry already, the other not. I think they are GMT and GT +2 for GO Markets (?) not sure.

What are you using mer? Forgive if you already mention, your thoughts on this, maybe only early Monday makes much difference?

Thanks, John
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  • #177
  • Jan 8, 2012 7:13pm Jan 8, 2012 7:13pm
I'm using FinFX, and I agree, different brokers are going to provide different results depending on what their 00:00 GMT start time is. All you can do is work with whatever broker time is available.
  • #178
  • Jan 8, 2012 7:37pm Jan 8, 2012 7:37pm
Mer,

You are right on all counts. The scenarios you showed should have played out.

I'm on IBFX. So the CT trades were not taken it being a live account.

As of now the EA does exactly as you propose, minus escalation of lots for individual trades based on mart series. I have coded the Ea to increase the lots, if the the starting day balance is less than the EOD balance. This part works like a charm.

I will putting this on hold till I circumvent the hedge and Fifo issues.

I have attached a spreadsheet which could be used to calculate lots based on daily range. I was going to code it in but .....

Cheers.

Pat

The orchid areas are user inputs. Rest of it is protected.

Enter the current day's range, and the ratios of reg and ct trades to yield possible Gain Loss Scenarios assuming 3 Regular trades and 3 CT trades, no repeats till the sequence is over Values are in pips.
Attached File(s)
File Type: xls CRSv2.xls   26 KB | 340 downloads
  • #179
  • Jan 8, 2012 11:42pm Jan 8, 2012 11:42pm
Okay, we are back within range and pending orders are placed. We will also be placing our CT 1 trade with .08 lots from the loss on Friday, CT 2 & 3 will be normal size @ .02 and .01 lots.
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  • #180
  • Jan 9, 2012 12:36am Jan 9, 2012 12:36am
Trend is your frends! wact
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