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True Trading Tactics

  • #281
  • Feb 12, 2012 6:07pm Feb 12, 2012 6:07pm
[quote=kraven;5378265]
Quoting kraven

there was some nice trades today, using this method it was impossible to loose if you took them. they was even 2 good +25 pip trades (EU and EJ) just before close. quote]

Did anyone get in and stay in???? up 70 and 60 pips respectively. if you stayed in you have your pips for the week
Hi Kraven,
I like your system and have just studied it through the weekend.
Could you please clarifiy the signal for EU today? Is it a buy sinal when the market just opening in gap this morning or the reversal bar last Friday?
Thanks.
Accept as it is being!
  • #282
  • Feb 12, 2012 6:23pm Feb 12, 2012 6:23pm
i posted last week how i like to see sunday gone before i look to trade.

the comments i made were a quote from last friday. i seen a signal candle had formed the hr before close, if you had got in you could have bailed before market closed for the week with +25...if you kept it open it would be 70 or 60 on the first candle today.

our second candle today on a few pairs were entries, but i like the market to settle on Sunday before i trade.
  • #283
  • Feb 12, 2012 10:25pm Feb 12, 2012 10:25pm
I took these 2 trades, was my understanding of this method correct? Please suggest.

Thanks
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  • #284
  • Feb 12, 2012 10:51pm Feb 12, 2012 10:51pm
hi guy's anyone looking at eurusd i hour
  • #285
  • Edited 11:00pm Feb 12, 2012 11:00pm | Edited 11:00pm
steevebalmer i return your pm have u got it
  • #286
  • Feb 12, 2012 11:49pm Feb 12, 2012 11:49pm
The system looks very attractive for me as I love to catch reversal movements. I will backtest and post the results here))
  • #287
  • Feb 13, 2012 12:23am Feb 13, 2012 12:23am
Hi Kraven,
Thanks very much for the clarification. I hate to stay in over the weekend due to my very bad experience of gap opening on Monday against my position eventhough I have locked my profit it still automatically turned my trade from profit into a huge loss. It was Nov 28 2011.

Anyway, could you also share your money management in line with this strategy? Do you apply any rule of maximum pips in risk or just put your SL at the high/low of the breakout candle?

Quoting kraven
i posted last week how i like to see sunday gone before i look to trade.

the comments i made were a quote from last friday. i seen a signal candle had formed the hr before close, if you had got in you could have bailed before market closed for the week with +25...if you kept it open it would be 70 or 60 on the first candle today.

our second candle today on a few pairs were entries, but i like the market to settle on Sunday before i trade.
Accept as it is being!
  • #288
  • Feb 13, 2012 2:10am Feb 13, 2012 2:10am
did anyone short the EurJpy, reversal candle at 0900h? wasn't very sure, would have prefered a longer upper wick or shorter body but i'm demo trading, so decided to test it. i entered short at 102.98, SL-103.19, TP1-102.76, TP2-102.54 (if i manage to close half at TP1, will move the rest to BE)
  • #289
  • Edited 3:35am Feb 13, 2012 2:23am | Edited 3:35am
Quoting kraven
redbox good luck with the EA, personaly i don't think the results will match manualy trading, unless you can create an EA that can be put on different pairs, communicate with each other as too which pair looks best, take into account news and different forms of SR and adjust SL, lot size and TP in accordence to them. that said it could still end up profitable. look at RoelMajors post on RR (on last page)
interesting...
since my current trading style is correlation... i have an indicator that calculating major pair & show their performance, in short, yes, i can make this EA reading other pair information...

so what is your criteria when choosing which pair is best one?... (but the EA only will tested on forward test mode)

sorry, i don't understand... what is SR?...
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File Type: ex4 Currency Race Arena.ex4   6 KB | 452 downloads
  • #290
  • Feb 13, 2012 2:31am Feb 13, 2012 2:31am
you must wait of a reversel candle, dont good set up this moment.

Quoting Omd
did anyone short the EurJpy, reversal candle at 0900h? wasn't very sure, would have prefered a longer upper wick or shorter body but i'm demo trading, so decided to test it. i entered short at 102.98, SL-103.19, TP1-102.76, TP2-102.54 (if i manage to close half at TP1, will move the rest to BE)
  • #291
  • Feb 13, 2012 2:51am Feb 13, 2012 2:51am
Quoting stevebalmmer
you must wait of a reversel candle, dont good set up this moment.
hi steve, if you have time, do u mind explaining why the EJ is not considered reversal candle coz i thought it was
thanks!
  • #292
  • Feb 13, 2012 3:31am Feb 13, 2012 3:31am
Quoting betterlife
Take just care of one thing. Looking at your pick, it seems like trades are entered far away from where they should, namely at the break of the setup candle. This might be due to too high spread modeled.
You're aware of the intricacies of MT4 testing, isn't it?
Don't trust any results of your backtesting till you've gone down the whole tick data modeling...
yes & yes.
this backtesting using "control point" mode + visualization, just only to make sure it works correctly.

and because i test on off-market time, it has spread 2x than normal trading time.

i did test on tick data modeling at that abnormal spread. the result is almost break even, in very long run, it still produce loss *maybe due spread*.& i only test at USDCAD because i only have this pair history...

thank you for your suggestion about sharing the code, but i think we will not be lonely in this big community i think it's better to not share it public because will do more harm than good. i know you are a coder too, feel free to discuss or share about EA programming with me.
  • #293
  • Feb 13, 2012 4:52am Feb 13, 2012 4:52am
Quoting Omd
hi steve, if you have time, do u mind explaining why the EJ is not considered reversal candle coz i thought it was
thanks!
i would consider it a reversal. we have a noticeable trend up then a reversal. i'd be looking to move SL to above past candles or to BE...the object is always not to loose, not just win!

Redbox: SR = support and resistance
  • #294
  • Feb 13, 2012 5:28am Feb 13, 2012 5:28am
Quoting kraven
i would consider it a reversal. we have a noticeable trend up then a reversal. i'd be looking to move SL to above past candles or to BE...the object is always not to loose, not just win!

Redbox: SR = support and resistance
thanks kraven! i did move SL to BE although i have not closed any profit as the movement looked weak. i'm a defensive trader too, always more important not to lose money i have closed the position at about 10pip profit - looks like it might be turning around.

meanwhile, have just entered AU - long 1.2329 did you take that trade?
  • #295
  • Feb 13, 2012 5:52am Feb 13, 2012 5:52am
Quoting Vnfx
Hi Kraven,
Thanks very much for the clarification. I hate to stay in over the weekend due to my very bad experience of gap opening on Monday against my position eventhough I have locked my profit it still automatically turned my trade from profit into a huge loss. It was Nov 28 2011.

Anyway, could you also share your money management in line with this strategy? Do you apply any rule of maximum pips in risk or just put your SL at the high/low of the breakout candle?
Vnfx i know what your saying with gapping but its and odds game. when a gap appears it more often then not closes (people often just trade these) also i have noticed that if the last candle of the week is up the market often opens gapping higher. you'd have to remover your SL though.

As for R:R we've covered that, RoelMajor did to. simply it's not a science. for e.g. early in the week i'm a lot more cautious, i'll move SL to BE quicker, i'll down size my position quicker etc...if by Thursday i'm in profit i maybe more liberal with my trading.
  • #296
  • Feb 13, 2012 5:57am Feb 13, 2012 5:57am
Quoting Omd
thanks kraven! i did move SL to BE although i have not closed any profit as the movement looked weak. i'm a defensive trader too, always more important not to lose money i have closed the position at about 10pip profit - looks like it might be turning around.

meanwhile, have just entered AU - long 1.2329 did you take that trade?
looks like EJ's going in the right direction too me....looks like a good trade, try moving SL to above the previous candle close or the current candle if it's ran for a while. but 10 pips is 10pips...

AU long?
  • #297
  • Feb 13, 2012 6:12am Feb 13, 2012 6:12am
we have a couple of good example of what i look for on the screens right now...

the last trade on EJ...trend going up (mixed candles, but a nice up trend today), a reversal candle, an entry, a drop.

GU 3 candles ago has a reversal candle but the previous 4 candles have been flat, consolidating. lost it's trend. battle between buyers and seller. so i'll give this a miss....not saying this won't shoot up for a huge profit, if i knew that then i'd obviously bet the house on it. i just trade as i see it.
  • #298
  • Feb 13, 2012 6:22am Feb 13, 2012 6:22am
Quoting kraven
looks like EJ's going in the right direction too me....looks like a good trade, try moving SL to above the previous candle close or the current candle if it's ran for a while. but 10 pips is 10pips...

AU long?
oops. i mean EurAud. there was a doji at 1200h but anyway it was a false signal.

Yep the EJ is heading down now, too bad for me but yes 10pip is better than nothing
  • #299
  • Edited 7:05am Feb 13, 2012 6:44am | Edited 7:05am
Quoting kraven
looks like EJ's going in the right direction too me....looks like a good trade, try moving SL to above the previous candle close or the current candle if it's ran for a while. but 10 pips is 10pips...

AU long?
Been late at the game today coz there were so much works must be done!
Quick analyze for three pairs:
EU : 1 signal : would have been -9 (after 10 pips gain) and there was bullish continuation warning sign
But, the signal was wrong signal generated by indie. It was not a new high of the day reversal.
So there was no signal from EU until now
GU: 2 signal : would have been -20 (after 10 pips gain) and would have been lost 11 pips (sl)
But, one of the signal (2nd signal) was wrong signal generated by the indie. It was not the new high of the day reversal.
AU: 1 signal : would have been -10 pips (after 13 pips gain) and there was a bullish continuation warning sign

All signals were mid-range signals based on the ADR target projection.

AU : Break of the Pullback due to strong trend?

Note: the reversal Indie have default 5 bars look back.....will remove this until BL have better implementation.....
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  • #300
  • Feb 13, 2012 8:23am Feb 13, 2012 8:23am
Quoting kraven
we have a couple of good example of what i look for on the screens right now...

the last trade on EJ...trend going up (mixed candles, but a nice up trend today), a reversal candle, an entry, a drop.

GU 3 candles ago has a reversal candle but the previous 4 candles have been flat, consolidating. lost it's trend. battle between buyers and seller. so i'll give this a miss....not saying this won't shoot up for a huge profit, if i knew that then i'd obviously bet the house on it. i just trade as i see it.
ok it's been a few hrs since this post and it shows what i mean..GU has went against the candle.
EJ however, the clearest signal so far for me has went over +70
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