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Buy sell line trading

  • #121
  • Mar 6, 2012 8:50am Mar 6, 2012 8:50am
Quoting whatfx
i entered at 86.87. long. as marked by the cross of the two blue lines on this chart.

this was an ideal trade to take. the previous candle was bullish and closed above the sell candle. therefore signal to go long.

price was also above 50 sma, near strong support (marked by the red line on the chart) and the 4hr trend had been making higher highs for a while. so a strong case to go long.

price was almost near 50 sma, so an ideal place for it to resume the upwards trend also.
all these factors made it a high probalbiity trade to take , go...
...the missing ingredient for that setup candle was strength of bullish momentum. All the other retracements toward the MA were kick started back into the prevailing trend with much better bullish candles and momentum, circled on your chart.
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  • #122
  • Mar 6, 2012 9:21am Mar 6, 2012 9:21am
Quoting whatfx
i entered at 86.87. long. as marked by the cross of the two blue lines on this chart.

this was an ideal trade to take. the previous candle was bullish and closed above the sell candle. therefore signal to go long.

price was also above 50 sma, near strong support (marked by the red line on the chart) and the 4hr trend had been making higher highs for a while. so a strong case to go long.

price was almost near 50 sma, so an ideal place for it to resume the upwards trend also.
all these factors made it a high probalbiity trade to take...
These things happen sometimes. A great setup is only great after the fact in my opinion. Your thinking was clear and robust. I hope yoe get a retracement to recoup some or all of your loss. If it doesnt happen we live to battle another day. Chin up my friend.

Olu
If you think you can or cannot do it you are correct
  • #123
  • Mar 6, 2012 9:56am Mar 6, 2012 9:56am
Entered short here. Aiming 1:1 RR
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  • #124
  • Mar 6, 2012 9:59am Mar 6, 2012 9:59am
welcome Goldwiki, give it a try on demo and feel free to post some charts
tradewith60
  • #125
  • Mar 6, 2012 10:04am Mar 6, 2012 10:04am
Quoting The7
Entered short here. Aiming 1:1 RR
Im assuming your entered on the break of the red hammer type candle. In my opinion that red hammer candle isnt much of an englufing pattern + look at that lower wick on it and the doji before it.
  • #126
  • Mar 6, 2012 10:46am Mar 6, 2012 10:46am
Hi there, I would just like to thank 60mm for this great profitable system. I would like to say I am currently up:

58 pips buy Usd/Chf
94 pips sell Eur/Usd
131 pips sell Aud/Jpy
19 pips buy Usd/Cad

All on a live accout! I think some people are being a little mislead by looking to trade all signals here. We are looking to trade with the trend

Thanks again 60mm!!!
Direction is more important than speed. Alot of people go nowhere real fast
  • #127
  • Mar 6, 2012 11:21am Mar 6, 2012 11:21am
Quoting traderjess87
Hi there, I would just like to thank 60mm for this great profitable system. I would like to say I am currently up:

58 pips buy Usd/Chf
94 pips sell Eur/Usd
131 pips sell Aud/Jpy
19 pips buy Usd/Cad

All on a live accout! I think some people are being a little mislead by looking to trade all signals here. We are looking to trade with the trend

Thanks again 60mm!!!
Excellent Jess, and youre spot on with your observation, i like to think of the rules as giving you an edge, an advantage... then its just a case of some simple analysis...

Awesome results too, well done at getting on the AJ...
tradewith60
  • #128
  • Mar 6, 2012 2:13pm Mar 6, 2012 2:13pm
Backtest on signal 1, EURUSD 1H. Migtrader (or SIgtrader MT4) time.

1 = wins
-1= losses



2011.09.02 20:00-1
2011.09.06 17:00-1
2011.09.12 19:00-1
2011.09.13 00:001
2011.09.13 16:00-1
2011.09.16 05:00-1
2011.09.16 12:00-1
2011.09.20 23:00-1
2011.09.21 02:00-1
2011.09.27 12:001
2011.09.27 16:00-1
2011.09.30 09:001
2011.10.03 17:001
2011.10.03 19:001
2011.10.05 07:00-1
2011.10.06 20:001
2011.10.10 06:001
2011.10.10 10:001
2011.10.10 15:001
2011.10.12 17:00-1
2011.10.13 02:00-1
2011.10.14 20:00-1
2011.10.17 16:001
2011.10.21 21:001
2011.10.25 10:00-1
2011.10.26 12:00-1
2011.10.27 12:001
2011.10.31 21:001
2011.11.01 11:00-1
2011.11.03 08:00-1
2011.11.07 08:001
2011.11.09 21:001
2011.11.10 22:00-1
2011.11.15 04:001
2011.11.15 22:001
2011.11.16 04:001
2011.11.22 13:00-1
2011.11.23 10:001
2011.11.23 12:001
2011.11.25 10:001


So, after 40 trades you end positive by 2 trades.
  • #129
  • Mar 6, 2012 3:14pm Mar 6, 2012 3:14pm
Quoting giraia_br
Backtest on signal 1, EURUSD 1H. Migtrader (or SIgtrader MT4) time.

1 = wins
-1= losses



2011.09.02 20:00-1
2011.09.06 17:00-1
2011.09.12 19:00-1
2011.09.13 00:001
2011.09.13 16:00-1
2011.09.16 05:00-1
2011.09.16 12:00-1
2011.09.20 23:00-1
2011.09.21 02:00-1
2011.09.27 12:001
2011.09.27 16:00-1
2011.09.30 09:001
2011.10.03 17:001
2011.10.03 19:001
2011.10.05 07:00-1
2011.10.06 20:001
2011.10.10 06:001
2011.10.10 10:001
2011.10.10 15:001
2011.10.12 17:00-1
2011.10.13 02:00-1
2011.10.14...
who ends positive by 2 trades? you or the robot blindly taking every signal?

does the ea read the trend?
what times of day are the signals best?
what are the bad times of day to take a signal?
Does it trade all week including market open?
Does it matter how big the engulfing is?
What about major news releases?
How does the ea decide when to let a winner run and when to close for break even?

I already have an EA for this strategy, it doesn't work, you need to do some work, you need to be a trader.

So after 33 trades you end positive....
Attached Image
tradewith60
  • #130
  • Mar 6, 2012 4:36pm Mar 6, 2012 4:36pm
Quoting 60minuteman
who ends positive by 2 trades? you or the robot blindly taking every signal?

does the ea read the trend?
what times of day are the signals best?
what are the bad times of day to take a signal?
Does it trade all week including market open?
Does it matter how big the engulfing is?
What about major news releases?
How does the ea decide when to let a winner run and when to close for break even?

I already have an EA for this strategy, it doesn't work, you need to do some work, you need to be a trader.

So after 33 trades you end positive....
Yeah there's no point trying to create an EA for any system, they dont work .. period. You cant just blindly trade this method like a robot/ea you have to do some basic analysis like 60mm has mentioned, plus support/resistance etc. giraia_br, looking through your posts you seem to love backtesting and your jumping from system to system trying (i guess) to find the 'holy grail' ...
  • #131
  • Mar 6, 2012 4:46pm Mar 6, 2012 4:46pm
Quoting 60minuteman
who ends positive by 2 trades?
lol! you are right!
  • #132
  • Mar 6, 2012 4:56pm Mar 6, 2012 4:56pm
Quoting dan89
Yeah there's no point trying to create an EA for any system, they dont work .. period. You cant just blindly trade this method like a robot/ea you have to do some basic analysis like 60mm has mentioned, plus support/resistance etc. giraia_br, looking through your posts you seem to love backtesting and your jumping from system to system trying (i guess) to find the 'holy grail' ...
oh, you make afirmattions but you guess? What retarted comment. The guy gave the system in post 1, os i backtested the system. What bullshit is that now about "did you did that?, did you did this?" in a affirmative manner .

don't be retard, the guy gave the system rules and i backtested it.
  • #133
  • Mar 6, 2012 5:03pm Mar 6, 2012 5:03pm
>who ends positive by 2 trades?

everyone who took trades between 2011.09.02 20:00 until 2011.10.27 12:00 following your system rules.

>does the ea read the trend?

who said it was an EA?

>what times of day are the signals best?
>what are the bad times of day to take a signal?

there is no "time of the day" in your first post

>Does it trade all week including market open?
>Does it matter how big the engulfing is?
>What about major news releases?
>How does the ea decide when to let a winner run and when to close for >break even?
>
>I already have an EA for this strategy, it doesn't work, you need to do >some work, you need to be a trader.
>
>So after 33 trades you end positive...

why are you so sure the trades i posted are so incorrect that you can post so much text to criticize it?

"but I would challenge anyone to take 20 trades following the rules and come out with a negative profit and loss."

so here they are. Now, find the trades that are incorrect post here. The time of each trade is here.
  • #134
  • Mar 6, 2012 5:05pm Mar 6, 2012 5:05pm
Quoting giraia_br
oh, you make afirmattions but you guess? What retarted comment. The guy gave the system in post 1, os i backtested the system. What bullshit is that now about "did you did that?, did you did this?" in a affirmative manner .

don't be retard, the guy gave the system rules and i backtested it.
Ok giraia, no problem, running an ea for backtest is a good idea, but we then have to go over each win and loss and make some analysis as to why we had losses and why we had wins.

Anyway, lets keep on track here... this may well be tradeable with an EA but it would have to be pretty complex and would need management, probably more work than trading it manually.

I find a visual backtest always gives far more information to the trader, perhaps try that on H4 and see how you go.

I haven't got any hard figures but I guess there are 25/30 possible entries over a day on the pairs i watch, but on average I take 3-4 trades a day.
If I took all 30 would i be more successful, I'm pretty sure not..
tradewith60
  • #135
  • Mar 6, 2012 5:31pm Mar 6, 2012 5:31pm
Quoting dan89
Yeah there's no point trying to create an EA for any system, they dont work .. period. You cant just blindly trade this method like a robot/ea you have to do some basic analysis like 60mm has mentioned, plus support/resistance etc.
u r d man dan89

i for 1 never like ea/robot for simple reasons/logics... if it worked why the bankers do not use them instead employing PEOPLE whom we call TRADERS to make $$$ for the institutions !!! if it worked the bankers would have bought and closed up FF and other similar trading forums from publishing EAs and leaving us no chance to make $$$ !!! imho

let's move on to make pips
  • #136
  • Mar 6, 2012 5:35pm Mar 6, 2012 5:35pm
Quoting 60minuteman
Ok giraia, no problem, running an ea for backtest is a good idea, but we then have to go over each win and loss and make some analysis as to why we had losses and why we had wins.

Anyway, lets keep on track here... this may well be tradeable with an EA but it would have to be pretty complex and would need management, probably more work than trading it manually.

I find a visual backtest always gives far more information to the trader, perhaps try that on H4 and see how you go.

I haven't got any hard figures but I guess there are 25/30 possible...
ea is a good idea... perhaps a new thread is a option to discuss further for whom are interested in and so that your thread would not be confused to new comers like me who want to learn mechanical trading method... my 2 cents
  • #137
  • Mar 6, 2012 5:40pm Mar 6, 2012 5:40pm
ops... for to post my last trade b4 nfp on friday

happy pipping!

edit: pls. ignore the bb
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  • #138
  • Mar 6, 2012 6:14pm Mar 6, 2012 6:14pm
Quoting giraia_br
>who ends positive by 2 trades?

everyone who took trades between 2011.09.02 20:00 until 2011.10.27 12:00 following your system rules.

>does the ea read the trend?

who said it was an EA?

>what times of day are the signals best?
>what are the bad times of day to take a signal?

there is no "time of the day" in your first post

>Does it trade all week including market open?
>Does it matter how big the engulfing is?
>What about major news releases?
>How does the ea decide when to let a winner run and when to close for >break even?
>
>I already...
Dont bother applying the rules of ANY system/method as if its life of death. Do some basic analysis of the chart AND follow the method. the rules are more of a guide. Yeah 60mm didnt mention anything about trading times ... you should be able to figure that out yourself. Why you bother trading when the market is clearly ranging even when price is above or below the 50sma ? Why would you take a trade when major news is about to be released ? would you take a long right into confluence of resistance + round number + pivot ? would you take a trade if the signal candle is more then 50% of the average range ? What if the signal bar indicating a long has a massive wick creating a pinbar ?...
  • #139
  • Mar 6, 2012 8:20pm Mar 6, 2012 8:20pm
Quoting traderjess87
Hi there, I would just like to thank 60mm for this great profitable system. I would like to say I am currently up:

58 pips buy Usd/Chf
94 pips sell Eur/Usd
131 pips sell Aud/Jpy
19 pips buy Usd/Cad

All on a live accout! I think some people are being a little mislead by looking to trade all signals here. We are looking to trade with the trend

Thanks again 60mm!!!

when did you get a sell on aud jpy ? please post chart..
  • #140
  • Mar 6, 2012 8:47pm Mar 6, 2012 8:47pm
Quoting traderjess87
Hi there, I would just like to thank 60mm for this great profitable system. I would like to say I am currently up:

58 pips buy Usd/Chf
94 pips sell Eur/Usd
131 pips sell Aud/Jpy
19 pips buy Usd/Cad

All on a live accout! I think some people are being a little mislead by looking to trade all signals here. We are looking to trade with the trend

Thanks again 60mm!!!
Very good job traderjess. That is how you do it. I just closed my eur/jpy and swissy i called earlier in this thread.Not too bad .
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