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  • #590,761
  • Feb 1, 2012 12:51pm Feb 1, 2012 12:51pm
Quoting Logik
bad news or the bears are here?
The "matter of hours" has turned into a matter of a week in mere minutes.

You could have traded that news on the assumption that it would come to nothing... anything connected with Greece will be half lie - half BS!

Anything. We should all know that by now.
  • #590,762
  • Feb 1, 2012 12:55pm Feb 1, 2012 12:55pm
Quoting Tellerton
The "matter of hours" has turned into a matter of a week in mere minutes.

You could have traded that news on the assumption that it would come to nothing... anything connected with Greece will be half lie - half BS!

Anything. We should all know that by now.
  • #590,763
  • Feb 1, 2012 1:10pm Feb 1, 2012 1:10pm
http://picshare.at/IMG/1328121199_Sc....-01-19.31.jpg

right-angled descending broadening pattern
be aware it's famous for false breakouts
  • #590,764
  • Feb 1, 2012 1:13pm Feb 1, 2012 1:13pm
Developing an EA > for Eur/USD (Prime market hours) 8am-12 noon NY Time.


SL; set to 25 pips.

what do you guys think?

is 25 stop loss good enough for eur/usd from 8am - 12noon.?

any suggestions/ideas ?
  • #590,765
  • Feb 1, 2012 1:15pm Feb 1, 2012 1:15pm
Hello Traders my name is pipnaija.. i have been following this thread for 4 years and have decided to join,contribute and hopefully we become the best traders.
i am classified a newbie but i am far from that in forex. i will start posting from 2moro.



SHALOM
  • #590,766
  • Feb 1, 2012 1:21pm Feb 1, 2012 1:21pm
Quoting laciera
Developing an EA > for Eur/USD (Prime market hours) 8am-12 noon NY Time.


SL; set to 25 pips.

what do you guys think?

is 25 stop loss good enough for eur/usd from 8am - 12noon.?

any suggestions/ideas ?
Get the SL value dynamically by averaging recent ATR or zig-zaq data. Best if your EA can minimize losses. Could also place SL 15 pips behind closest S/R level.
  • #590,767
  • Feb 1, 2012 1:21pm Feb 1, 2012 1:21pm
Quoting laciera
Developing an EA > for Eur/USD (Prime market hours) 8am-12 noon NY Time.


SL; set to 25 pips.

what do you guys think?

is 25 stop loss good enough for eur/usd from 8am - 12noon.?

any suggestions/ideas ?
backtest on demo and forward test. to each their own
  • #590,768
  • Feb 1, 2012 1:22pm Feb 1, 2012 1:22pm
Quoting laciera
Developing an EA > for Eur/USD (Prime market hours) 8am-12 noon NY Time.


SL; set to 25 pips.

what do you guys think?

is 25 stop loss good enough for eur/usd from 8am - 12noon.?

any suggestions/ideas ?
Not enough info... depends on things like time frame...long or short....

for example, markets move down faster then up... up markets have a lot more backfilling....

Settings like that are best revealed by VALID backtesting.... the key word is valid... most abuse backtesting and end up curve fitting some nonsense.

Read some good books on system development
  • #590,769
  • Feb 1, 2012 1:29pm Feb 1, 2012 1:29pm
Reuters just ran a correction ********

IIF sees deal with Greece by the close the THIS week... not next week
  • #590,770
  • Feb 1, 2012 1:31pm Feb 1, 2012 1:31pm
Quoting Crassius
Reuters just ran a correction ********

IIF sees deal with Greece by the close the THIS week... not next week

I'm getting seasick...
  • #590,771
  • Feb 1, 2012 1:33pm Feb 1, 2012 1:33pm
Quoting Tellerton
I'm getting seasick...
I am sure some fusks do this type of thing to make money trading....

a couple a months ago one of the ratings agencies released a French downgrade only to retract it as a mistake an hour later....

No accident in my opinion....
  • #590,772
  • Feb 1, 2012 1:36pm Feb 1, 2012 1:36pm
Here the msitaken French downgrade story.... got me stopped out for this BS

http://www.ft.com/cms/s/0/6ccfa48c-0...#axzz1lA16vSMu
  • #590,773
  • Feb 1, 2012 1:37pm Feb 1, 2012 1:37pm
and by the end of this werk they are sure to complete their deal during the weekend, then on monday, then by the middle of the week... they should be slapped an euro should fall until they really reach a solid agreement.
.:: your stop loss is another trader's first target ::.
  • #590,774
  • Feb 1, 2012 1:39pm Feb 1, 2012 1:39pm
The place for vigilantism is in the bond pits....

They usually get their BS punished there.... but the ECB gave out oodles of cash so the banks would buy the new bonds and run the bond vigilanties away....

They kicked the can... got some breathing room, and now everything is stalled until the market can make them act again.

When Greece is over, its Portugal next....
  • #590,775
  • Feb 1, 2012 1:44pm Feb 1, 2012 1:44pm
Quoting laciera
Developing an EA > for Eur/USD (Prime market hours) 8am-12 noon NY Time.


SL; set to 25 pips.

what do you guys think?

is 25 stop loss good enough for eur/usd from 8am - 12noon.?

any suggestions/ideas ?
Personally I found 25 pip stop loss too tight, any bit of breaking news can take you out in a second before returning to where it was. Also depends on S/R levels and sometimes I use Fib levels. Generally around 40 pips for me
  • #590,776
  • Feb 1, 2012 1:44pm Feb 1, 2012 1:44pm
Quoting Crassius
Not enough info... depends on things like time frame...long or short....

for example, markets move down faster then up... up markets have a lot more backfilling....

Settings like that are best revealed by VALID backtesting.... the key word is valid... most abuse backtesting and end up curve fitting some nonsense.

Read some good books on system development



"markets move down faster than up"
HMM!! I totally didnt consider that.

I want to have it on a short time fame.
Trades max 10minutes. or 15.
trading on an M5 chart.
so 20 or 25 pips?

I think reasonable?
  • #590,777
  • Feb 1, 2012 1:47pm Feb 1, 2012 1:47pm
Quoting voltagetoe
Get the SL value dynamically by averaging recent ATR or zig-zaq data. Best if your EA can minimize losses. Could also place SL 15 pips behind closest S/R level.

10-15 pips beyond closest S/R is a good way to SL.
ill consider that.

Thanks.
  • #590,778
  • Feb 1, 2012 1:49pm Feb 1, 2012 1:49pm
Quoting laciera
"markets move down faster than up"
HMM!! I totally didnt consider that.

I want to have it on a short time fame.
Trades max 10minutes. or 15.
trading on an M5 chart.
so 20 or 25 pips?

I think reasonable?
Don't say I never gave you anything... I always separate my long logic from my short logic for that reason....

Longs backfill and need more room to work... shorts sell off steep in a panic and either move quickly into profit, or immediately reverse against the trade.
  • #590,779
  • Feb 1, 2012 1:55pm Feb 1, 2012 1:55pm
Quoting laciera
"markets move down faster than up"
HMM!! I totally didnt consider that.

I want to have it on a short time fame.
Trades max 10minutes. or 15.
trading on an M5 chart.
so 20 or 25 pips?

I think reasonable?

This is a much harder endveavour than you seem to realize.... take a look at Collective 2 and Currensee and see that there are few profitable systems.... those places are audited results, not self reported blah blah...

Anyway, do it if you dig this stuff as a hobby and would not rather do anything else in your spare time... and realize it takes years... yes years to do it.

As far as your questions above... try not to impose to much on a system going in.... look for a set up that you can make the computer recognize... no discretionary allowed, and then work with the data.... let the set up reveal what time frame and what time of day and what pair and what ever....

Start with a long time frame... the daily chart and get something working there... don't start in the hardest place... trying to find a system that works on a day trading time frame.
  • #590,780
  • Feb 1, 2012 1:56pm Feb 1, 2012 1:56pm
Im wondering if the Bulls have enough energy to pump this thing up for one more distribution before the close?
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