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  • #3,741
  • Feb 4, 2012 7:40am Feb 4, 2012 7:40am
x-man
I am also trying to backtest your strategy, but my trading simulator is not working fine for this propose, do you use any trading simulator? or do you do it using the F12 key?
  • #3,742
  • Feb 4, 2012 7:44am Feb 4, 2012 7:44am
Quoting migmac
x-man
I am also trying to backtest your strategy, but my trading simulator is not working fine for this propose, do you use any trading simulator? or do you do it using the F12 key?
X-Man uses the F12 key to do his backtesting.
  • #3,743
  • Feb 4, 2012 7:47am Feb 4, 2012 7:47am
Quoting HITMAN
hello X-man i have Simple Question did you use SL bigger than 50 pip in any trade ?
For the 1H method i never used a SL bigger than 50pips

For the 4H method yes the SL varies due to the bigger movements.
X-man the legendary conqueror of markets
  • #3,744
  • Feb 4, 2012 7:53am Feb 4, 2012 7:53am
Quoting migmac
x-man, I have a question, the version of TDI that you are using dosen't update automatically right? you need to change the timeframe correct? If you are aware of this issue what is the reason for not using one of the TDI versions that updates on every tick?
Yes i am aware of this.
Most of my focus is based on the movement of PA.
I mainly look at TDI after a candle forms by then it updates itself and wont really bother about TDI during the formation of the candle.
So due to that i dont need a TDI that updates after every tick

I only use the F12 key to backtest just as the fellow trader answered your question
X-man the legendary conqueror of markets
  • #3,745
  • Feb 4, 2012 7:57am Feb 4, 2012 7:57am
Quoting hale-mary
So this is a test chart to see whether people can understand my entries and exits I post.X-man, Let me know if it is good enough so I can post more.

So here the trade. SL is above the candle marked with a down arrow. Entry is when the candle appeared to break the resistance area or what some might call the 1 2 3 pattern. I entered. Price moved down 25 to 30 pips. At that time I moved my SL to BE and got hit. Only to see it go down more. I recall phx62 mentioning he moved his SL to BE everytime price moved this much.

TP was 50 pips. But here...
Yes hale mary that is fine.
So next week i would like to see all the charts like that so me and other traders can help.
Next week no trade should be moved to BE. I have given to some rules to follow so apply those rules when taking trades next week
X-man the legendary conqueror of markets
  • #3,746
  • Feb 4, 2012 12:21pm Feb 4, 2012 12:21pm
Quoting X-Man
[color=Blue][size=3]10 Year old computer thats ancient.
Technology is just something a person can never keep up with. you buy the latest model today and tomorrow something better is out.

Well i guess im a blessed trader because my brother is the I.T expert so anything regarding that I let him do the job.
You dont need the latest computer . You just need a good processor with about 4gig ram and a huge screen. This is to allow you to have many programs and pages up at once without stalling your PC

My bro built my computer, we never buy ready made...
My trusty desktop is over 10 years old....lol, It runs two 22" dell moniters
( although i did buy a good graphics card )..

I have also "shoe-horned" as much ram as i dare...........

My boys do take the mick a bit .....lol

But i keep it clean and "tweaked" works a treat........
Memories caught in time but never forgotten
  • #3,747
  • Feb 4, 2012 6:23pm Feb 4, 2012 6:23pm
So here is a trade on Jan 31. Went long when price broke the Asian high. (need to avoid these types of errors on trades as it kills the overall profit for the day when you get the signal right) Immediately reversed when price broke the range formed in London and we had TDI cross with red candles closing lower.

TP- Just got out when price went to 1.3100. Did not know it would fly that far and want to recoup some of the lose made earlier by the wrong long. Got lucky I guess as that was the main resistance level I was looking at.
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  • #3,748
  • Feb 4, 2012 6:30pm Feb 4, 2012 6:30pm
did not have the 200 ema on chart when I took the trade. Saw a few people have them so I stuck it in there.

Went long because the red candle closed up and the candle turned blue with TDI cross. Was looking to get out at the previous days open which happened.

Sl was Few pips below low of the red candle.

I recall Xman entered the trade as soo as price broke the red resistance dotted line I have. Even though price moved over 60 pips up. Keep this in mind as I was using this logic when entering short the next day. will post that chart as well.
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  • #3,749
  • Feb 4, 2012 6:43pm Feb 4, 2012 6:43pm
***going to be had to visually show the entries so hope my explanations will suffice***

Xman pointed out the downward trendline which made me pay close attention to what happened the past few days as price got to the 1.3200 level. So went short on the break of Asian low. Price moved 30 pips so I moved SL to BE only to be taken out and watch price fall.

Now based on what I saw X-man do the previous day to enter long. I went short on the Next red candle as price did a confirmed break to the down side. Then the next blue candle occured and I got stopped out for 40 pips because a 50 pips SL seemed to much for me and it was a a bit above the red synergy candle.

Next entrey was when price broke the range low as shown by the whitew line and 3 green dots. Price movwed 33 pips and I moved my SL to BE only to get taken out.

Last entry is shown by the red arrow. TDI crossed up and we had a blue candle form and TDI crossed up. Was looking for 50 pips. (I dont know why even though I saw price Had rejected the same area 3 times. SL was 50 pips, but as soon as I was at plus 37 pips I moved to BE. I got stopped out a BE. I have know clue why I didnt take the money and run.
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  • #3,750
  • Feb 4, 2012 6:47pm Feb 4, 2012 6:47pm
Quoting hale-mary
did not have the 200 ema on chart when I took the trade. Saw a few people have them so I stuck it in there.

Went long because the red candle closed up and the candle turned blue with TDI cross. Was looking to get out at the previous days open which happened.

Sl was Few pips below low of the red candle.

I recall Xman entered the trade as soo as price broke the red resistance dotted line I have. Even though price moved over 60 pips up. Keep this in mind as I was using this logic when entering short the next day. will post that chart as well....
HM I can't see your entry point. Could you please highlight it with an arrow oslt?
Ok you already did, sorry.
  • #3,751
  • Feb 4, 2012 6:50pm Feb 4, 2012 6:50pm
Last trade of the week.

Entered short after that long candle spike from NFP. Price went down 40 pips. I was expecting more. I think because in the back of my mind I kept wanting to believe what Xman said about the 170 pip move so I held on. Plus NFP day usually has good moves. But that is not what made me hold on. I saw price break 1.3080 and quickly go to 1.3060 and I was like"1.3000" here we come. I saw price close above the 200 EMA and just waited and BE occured.

So I need to figure out what to look for when exiting a trade as I think my TPs are random. Entries do need to improve as well.
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  • #3,752
  • Feb 4, 2012 7:02pm Feb 4, 2012 7:02pm
Quoting hale-mary
***going to be had to visually show the entries so hope my explanations will suffice***

Xman pointed out the downward trendline which made me pay close attention to what happened the past few days as price got to the 1.3200 level. So went short on the break of Asian low. Price moved 30 pips so I moved SL to BE only to be taken out and watch price fall.

Now based on what I saw X-man do the previous day to enter long. I went short on the Next red candle as price did a confirmed break to the down side. Then the next blue candle occured and I...
You have been quite unlucky in your first trade. I think candles like the long wicked blue doji that stopped you out are quite unusual in eurusd. I was not at the computer or I think I'd have done the same thing. Anyway I am trying to follow expert advice and not to move my sl but to close the trade when PA tells me it's not moving my way.
I'd not have taken your second, last was an overextended candle after a downward move, I understand it may signal the bottom of the move.
  • #3,753
  • Feb 4, 2012 7:03pm Feb 4, 2012 7:03pm
Quoting hale-mary
So here is a trade on Jan 31. Went long when price broke the Asian high. (need to avoid these types of errors on trades as it kills the overall profit for the day when you get the signal right) Immediately reversed when price broke the range formed in London and we had TDI cross with red candles closing lower.

TP- Just got out when price went to 1.3100. Did not know it would fly that far and want to recoup some of the lose made earlier by the wrong long. Got lucky I guess as that was the main resistance level I was looking at.
Hey hale-mary,
i'm a newbie and maybe i'm wrong but i think you shouldn't have went long there because the candle before your trade didn't formed a low, like definition of pullback candle say this, from .pdf file #1 post:

A pullback candle is a candle if the previous candles are bearish then candle will form a low then reverse and close above the open.

The candle there closed above the open, but didn't formed a low and if you look at 27-01 you'll find a lot of resistence area near 1,322. Last thing: always remember round numbers, sometimes those psychological levels affect a lot of our trades.

This is just my guess, but i repeat, i'm just a newbie.
  • #3,754
  • Feb 4, 2012 8:05pm Feb 4, 2012 8:05pm
I'll wait on emmanuels comments,

Every point can be construed as S/R levels which is why I dont give credence to specifics like 50 or 00 etc. It just happened to workout that way. Last week. I was looking at a TMS entry by the way, as I dont blindly take pullback candles without confirmation. But thanks for the input anyways.
  • #3,755
  • Feb 4, 2012 10:31pm Feb 4, 2012 10:31pm
i now know that it is inapropriate to ask on this thread , so can anyone please tell me where to ask general questions about computers , (i am a computer dummie and newbie trader ,and dont also want to be a pain in the a** )
ROB
  • #3,756
  • Feb 4, 2012 11:34pm Feb 4, 2012 11:34pm
These kinds of things are actually very important and have significance to trading as a whole and as we are a very friendly group here in S3. I am pretty sure that anyone that writes frequently on this thread would be happy to answer questions like these. All you have to do is ask through a private message. Happy weekend all.

LL
"IN CASH WE TRUST"
  • #3,757
  • Feb 5, 2012 12:33am Feb 5, 2012 12:33am
Quoting LazyLobster
These kinds of things are actually very important and have significance to trading as a whole and as we are a very friendly group here in S3. I am pretty sure that anyone that writes frequently on this thread would be happy to answer questions like these. All you have to do is ask through a private message. Happy weekend all.

LL
thanks LL,
yes , i agree great people in this group and no way was my post meant to suggest otherwise , i'm just trying not to do the wrong thing and pollute the thread ,as i slipped up badly before and dont want to repeat my mistake .
so, thanks again , i would try PM ,but not sure to whom, dont want to pressure someones time if they're not too happy to reply.
best regards
ROB
  • #3,758
  • Feb 5, 2012 2:57am Feb 5, 2012 2:57am
Quoting hale-mary
I'll wait on emmanuels comments,

Every point can be construed as S/R levels which is why I dont give credence to specifics like 50 or 00 etc. It just happened to workout that way. Last week. I was looking at a TMS entry by the way, as I dont blindly take pullback candles without confirmation. But thanks for the input anyways.
Everyone has its own trade style but maybe rejecting psycological levls in block could be not so wise...
  • #3,759
  • Feb 5, 2012 3:44am Feb 5, 2012 3:44am
hale-mary, why dont you take half or one third of the profit when you reach a certain amount of pips. Or for example when you reach R:R 1:1...

In quite a few situation you could have banked a solid gain and not just BE.

About the last trade you've posted.
IMO you've entered way to late. The 1st reason is that TDI crossed allready quite some time before, the 2nd is that the bullish spike was obviously an attempt to push the price higher against the news, which were good for the dollar.
No way the higher prices get more buyers into the strong weekly resistance and against the good dollar news. Demand was exhausted.

Thats why I've entered at 1.3182. That was ~25 pips from the down sloping trendline. And if you enter high after such a violent move, the price will surely drop 20-30 pips in a minute or so. You can close half here and wait what happens next.

Thats at least what I was thinking when I took the trade.
Thoughts are things
  • #3,760
  • Feb 5, 2012 7:37am Feb 5, 2012 7:37am
Quoting robuk
thanks LL,
yes , i agree great people in this group and no way was my post meant to suggest otherwise , i'm just trying not to do the wrong thing and pollute the thread ,as i slipped up badly before and dont want to repeat my mistake .
so, thanks again , i would try PM ,but not sure to whom, dont want to pressure someones time if they're not too happy to reply.
best regards
ROB
Hi ROB,

You can post at the Rookie Discussion section or the Platform Tech section if you have qeustion related to MT4.
You can also PM me and I will try to help you my time permitting.
Good Luck.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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