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1min Tricolour

  • #361
  • Feb 7, 2012 2:43pm Feb 7, 2012 2:43pm
I made an EA for this strategy and backtested results (1 year) show that it is a loosing system.
  • #362
  • Feb 7, 2012 2:56pm Feb 7, 2012 2:56pm
Quoting MickaelFx
Hey,

Are you sure that your first Tp is not too far ??
The distance between SL and entry should me the same than entry TP1.
I've found a similar trade than yours and it had been a BE, not a loss.
Let me know
My SL should be 1 pip below the low of the recent candle.

Distance between the entry point and the low of a recent candle is 3 pips.

1:2 RR

RISK = (3 + 1)SL + (3)SPREAD : REWARD = (14)TP
  • #363
  • Feb 7, 2012 3:48pm Feb 7, 2012 3:48pm
I didn't want to say that your R/R is not right.I just said that the First TP is too far.
It's not my opinion, but the rules.
on fib, 0=Entry,1=TP1, 2=TP2...TP1 is not equal at RR2.Tp 2 is.

When the first TP is reach then you move to BE.(not tp2)

On my screenshot the same trade had been a BE one.But I personally think that Spread =3 is too much for such strategy.
Green pips to you


Quoting JoaoOliveira
My SL should be 1 pip below the low of the recent candle.

Distance between the entry point and the low of a recent candle is 3 pips.

1:2 RR

RISK = (3 + 1)SL + (3)SPREAD : REWARD = (14)TP
  • #364
  • Feb 7, 2012 4:23pm Feb 7, 2012 4:23pm
I have been trading this system for about 3 weeks live on a penny account and my M1 EU trades with a 1-2 pip spread are making consistent money. My trades on other currencies with 3-4 pip spreads are really struggling to keep their heads above water. I seem to have to work twice as hard at keeping those trades profitable. The SL are too far back so even though I set them to my chart to my brokers spreads, I will close them out manualy when my real fib tool SL is hit. If I let them go to the real spread SL they would have sank completely by now. In order to trade the higher spread (>2pips) I am looking at trading them on this system now with the M5 and M15 looking for more solid moves. We'll see how this goes. So far I am pleased with the method.

-ej5
  • #365
  • Feb 7, 2012 4:44pm Feb 7, 2012 4:44pm
You're right, In my opinion the spread is the clue too. Not obvious to manage the trade with spread and to respecte the rules in the same time with 3pips spread.

Would you please share your settings on higher timeframe.?
Thanks


Quoting ejohnston5
I have been trading this system for about 3 weeks live on a penny account and my M1 EU trades with a 1-2 pip spread are making consistent money. My trades on other currencies with 3-4 pip spreads are really struggling to keep their heads above water. I seem to have to work twice as hard at keeping those trades profitable. The SL are too far back so even though I set them to my chart to my brokers spreads, I will close them out manualy when my real fib tool SL is hit. If I let them go to the real spread SL they would have sank completely by now....
  • #366
  • Feb 7, 2012 4:46pm Feb 7, 2012 4:46pm
Quoting JoaoOliveira
4 consecutive losses.

20% drawndown on my account

Thanks for posting the screenshots.

The first trade should have been moved to BE as soon as 1R was reached in my view.

You could have filtered out the 3rd and 4th trades by entering the trades at 1 pip beyond the break of the entry candle. I am not suggesting that we optimise the entry necessarily - but entering on the break of the 'entry' candle is a pretty standard variation on the current method of entry.
Enter Signature
  • #367
  • Feb 7, 2012 4:53pm Feb 7, 2012 4:53pm
Quoting oashken1
I made an EA for this strategy and backtested results (1 year) show that it is a loosing system.

Did you only trade the London in your testing?

I quit trading this each day after 2 or three losses - and dont trade any longer after i have made 1.5-2R+. I have found using this form of trade management keeps the system profitable for me.
Enter Signature
  • #368
  • Feb 7, 2012 5:39pm Feb 7, 2012 5:39pm
@MickFX

At this point I have just started the higher time frames and had planned on using the same settings I have for the M1 and see how it goes unless there is an obvious bad reason for doing so that I have missed.

The other thing I want to add is that I dog the trades once they are on. AS soon as trade crosses TP1 I set BE+1, as soon as trade passes TP2 I set stop to TP1. TP3 seems to be a stretch at this time frame so I start whatching the candles for signs of exhaustion and/or stochastics reaching the extreme again and turning against me. I basically try and milk each trade but I don't let a winner ever become a loser. I haven't ever met a positive pip trade I don't like and with this system there are lots of opportunities to jump on board and find the next wave that goes farther than you expected so there is no need to get greedy.

-ej5
  • #369
  • Feb 7, 2012 7:00pm Feb 7, 2012 7:00pm
Quoting JoaoOliveira
The stoploss is always 3 pips above. I just put this way to simulate the target. with 1:2 RR.
You didn't wait for the candles to close with the stoch closing in the gray before you entered, that produced 2 negative trades.

On the first one, you should wait till it's trending, don't jump in when the MA's are flipping back and forth.
  • #370
  • Feb 8, 2012 3:14am Feb 8, 2012 3:14am
Quoting PipJaeger
You didn't wait for the candles to close with the stoch closing in the gray before you entered, .
If you look only to color you could be mislead. Someone complain before that the indicator repaints. If you consider color it does repaint. It you consider values (thats what matters. right?) it doesn't changes/repaints.

Consider the following
Stoch alone bellow 20. (Above 80 its the same logic)

whenever the Stoch drop bellow 20 on candle close the last line segment becomes red.
If the value goes up 20, the last line segment will be gray. But if the next value goes again bellow 20, we'll get another last red segment. (an inverted V with the edge above 20).

So color has nothing to do with Joao's entries. I believe he followed the "rules" and at entry time the line was GRAY.

When we look back and see a good setup with obviously a gray line going up it was kind of "luck". this time it went up!! It worked!!

Whenever Stoch crosses bellow 80 or above 20 and the other indies line up, you have a trigger. It doesn't mean it will work every time. But in this timeframe you can't wait to much. You either pull the trigger or you back off.
A lot of discretion is still needed.

Like every other system out there if one follow rules blindly it will loose in the end.

Ignore color and pay attention to numbers and what is happening in higher tf.

Hope it helps.

J
  • #371
  • Feb 8, 2012 4:37am Feb 8, 2012 4:37am
Quoting kook
If you look only to color you could be mislead. Someone complain before that the indicator repaints. If you consider color it does repaint. It you consider values (thats what matters. right?) it doesn't changes/repaints.

Consider the following
Stoch alone bellow 20. (Above 80 its the same logic)

whenever the Stoch drop bellow 20 on candle close the last line segment becomes red.
If the value goes up 20, the last line segment will be gray. But if the next value goes again bellow 20, we'll get another last red segment. (an inverted V with the edge...
Completely agree
  • #372
  • Feb 9, 2012 10:07am Feb 9, 2012 10:07am
good morning trade
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-09_0934.png Size: 55 KB
passion and discipline
  • #373
  • Feb 10, 2012 1:49am Feb 10, 2012 1:49am
Hey,

Paulus, am I wrong or there was not that much signals for a 1 min scalping strategy this week??
Is the market changing ??
Thanks for your help !
  • #374
  • Feb 10, 2012 2:25am Feb 10, 2012 2:25am
Quoting rohule
good morning trade
Hello Rohule, may I ask what indicator you use at the bottom of your chart (showing daily, 4h and 1h candle stick time frame) ?

Good trading to you
Always Set Stop Loss !! Trade what you see .... Not what you think !!
  • #375
  • Feb 10, 2012 7:03am Feb 10, 2012 7:03am
Quoting t3ric
Hello Rohule, may I ask what indicator you use at the bottom of your chart (showing daily, 4h and 1h candle stick time frame) ?

Good trading to you
Hey bro how r u? Here you go http://www.pipware.com/software/mini-charts.html
passion and discipline
  • #376
  • Feb 10, 2012 9:08am Feb 10, 2012 9:08am
Quoting rohule
Hey bro how r u? Here you go http://www.pipware.com/software/mini-charts.html
Hi Rohule, thanks for the links. Looking forward to attach it since I think I have to analyze the higher timeframe before making decision whether to enter position or not.

Regards
Always Set Stop Loss !! Trade what you see .... Not what you think !!
  • #377
  • Feb 10, 2012 10:35am Feb 10, 2012 10:35am
I've been looking at this strategy with great interest - and also some small degree of amazement at some of the deals which have been posted up here!!

There have been many examples of deals which don't follow the rules.

The most common ones are when [using a short deal for my example] the lower band is above the 165ema and also when the trigger candle isn't FULLY ABOVE the 165ema.

If either of the conditions above are true, there is NO TRADE!!

However, I have a question for Paulus:

On the attached chart from today, there are several stochastic crosses which are invalidated by the trigger candle breaching the 165ema.

However, we then get a stoch cross on a candle which DOESN'T breach the 165ema, so would that be a valid trade?
Attached Image (click to enlarge)
Click to Enlarge Name: scalp1.JPG Size: 154 KB
  • #378
  • Feb 10, 2012 10:43am Feb 10, 2012 10:43am
Actually, I take some of the above comments back!!

In one of Paulus's examples, he takes a deal when price HAS breached the 165ema, BUT it still closed on the "correct" side of it it.

Paulus - I would appreciate your clarification here please!
  • #379
  • Feb 14, 2012 5:11am Feb 14, 2012 5:11am
Quoting rohule
good morning trade
Quick question, how do you calculate your pivot points and come up with your fin lines? Thx
  • #380
  • Feb 14, 2012 8:34am Feb 14, 2012 8:34am
Is anyone trading V2 profitable these days?!

Mathias
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