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Buy sell line trading

  • #141
  • Mar 6, 2012 9:39pm Mar 6, 2012 9:39pm
I did my own visual backtest of every signal on EU H1 since the beginning of the year. If I left out the candles of 50 pips or more, it won about 2 out of 3.

Most of the winners were about 25-35 pips in size.

This is just my observation over a short period of time, though something to think about.
  • #142
  • Mar 6, 2012 11:04pm Mar 6, 2012 11:04pm
Quoting whatfx
when did you get a sell on aud jpy ? please post chart..
There is a bearish engulfing candle on the H4
Attached Image (click to enlarge)
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Direction is more important than speed. Alot of people go nowhere real fast
  • #143
  • Mar 7, 2012 1:03am Mar 7, 2012 1:03am
Quoting traderjess87
There is a bearish engulfing candle on the H4
Hi trader!

May i ask you , it is 50sma on your chart ?

Peter
  • #144
  • Mar 7, 2012 2:00am Mar 7, 2012 2:00am
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 00:00 1
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 12:00 1
2011.09.27 16:00 -1
2011.09.30 09:00 1

So, after 40 trades you end positive by 2 trades.

Hello Everyone

I trade mainly with 1 Hour 4 Hour and Daily charts and I use engulfing candles as part of my trading and I am successful........I am also involved with a 5min chart strategy..

giraia..... I have gone through the charts using a professional platform and your emotionless piece of programing you use is useless as is all Ea robots...They will never out preform me in my trading, why ? because I learnt to trade like a professional...

The result that you would have got using rules from post one and the considerations listed below in sept 2011 ( same period you show) trading like a professional is as follows..

6 No trading days...
14 Positive trades for 596 Pips +
5 negative trades for 232 pips -

Total pips profit 364 pips +
Strike rate 74%

These result are assuming you can trade like and ea (24 hours a day)
Only E/U 1 Hour

Thse results are achieved because I took into consideration

Support and Resistance

Daily Pivots

Consolidation

High impact news events

Stregnth of the trend

Emotion and sentiment of the price action at the time of taking the trade..

Hope this helps anyone..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #145
  • Mar 7, 2012 2:39am Mar 7, 2012 2:39am
Quoting dan89
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...
Isn't the purpose of a "system" to define rules as strict as possible? What is the use of a system if it does not cover the circumstances when to trade and when to step aside? Otherwise everything gets so washed out, that you can't compare any results. This thread would be more of a trading journal, biased by personal experience and opinions.

This system seems to have a real edge and the rules are easy enough. However, if there are more necessary, I'd be happy to learn about them.

Btw, I like your sig!
  • #146
  • Mar 7, 2012 3:10am Mar 7, 2012 3:10am
Quoting Wonko
Isn't the purpose of a "system" to define rules as strict as possible? What is the use of a system if it does not cover the circumstances when to trade and when to step aside? Otherwise everything gets so washed out, that you can't compare any results. This thread would be more of a trading journal, biased by personal experience and opinions.

This system seems to have a real edge and the rules are easy enough. However, if there are more necessary, I'd be happy to learn about them.

Btw, I like your sig!
The problem is people think there should be or is a 'system'. All this is, and other 'systems' is just an edge. The problem is the market is always different every single day and you have to be able to evolve and adapt to the changes ... a system that has 'rules' will never adapt, it cant.

As one of the posters above mentioned you have to look at the bigger picture aswell. S/R, pivots, channels, round numbers, candle patterns etc etc. If you try to trade this 'system' by following the 'rules' and nothing else you will fail
  • #147
  • Edited 5:03am Mar 7, 2012 3:23am | Edited 5:03am
...just watching this atm, i like the last 1hr bullish candle and the fib confluence. Would be another great R:R trade if it materialises. I'm waiting for more confirmation above the 50 psych level before entering. (NB: i use the MA slope and not just price above/below).

Edit: ..a good example of why it's important not to blindly follow a setup - the momentum was too weak to break above the 50 psych/resistance level, despite the previous bullish setup candle, so no trade.
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  • #148
  • Mar 7, 2012 3:29am Mar 7, 2012 3:29am
http://www.investopedia.com/terms/t/...#axzz1oQBlzn4h

A trading strategy outlines the specifications for making trades, and includes rules for trade entries, exits and money management. When properly researched and executed, a trading strategy can provide a mathematical expectation for the specified rules, and help traders and investors determine if a trading idea is potentially profitable.


I take the last line in bold meaning further analysis is required to place the trade
A system just alerts us to a potential trade
This argument crops up time and time again in FF
  • #149
  • Mar 7, 2012 3:34am Mar 7, 2012 3:34am
Quoting peterporter
http://www.investopedia.com/terms/t/...#axzz1oQBlzn4h

A trading strategy outlines the specifications for making trades, and includes rules for trade entries, exits and money management. When properly researched and executed, a trading strategy can provide a mathematical expectation for the specified rules, and help traders and investors determine if a trading idea is potentially profitable.

I take the last line in bold meaning further analysis is required to place the trade
A system just alerts us to a potential...
...yes, so FF should perhaps have a Trading Strategies forum in which this strat would belong. I can understand the frustration here, as we're posting in a Trading Systems forum, which by definition should contain purely rules based / mechanical criteria with no room for discretion.
  • #150
  • Mar 7, 2012 3:54am Mar 7, 2012 3:54am
Just to clear any confusion for newbies or anyone not normaly trading this style, it would be very helpful is 60minuteman was to post some trades with explanations to why you should enter them and others explaining why you should not take the trade and the money management behind it as mm is as important as the strategy.

Otherwise you are just going to have a long thread with a lot of headless chickens and the same old questions..

This way you will develope a quality thread that will last longer than a few pages..

Just my thoughts..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #151
  • Mar 7, 2012 4:16am Mar 7, 2012 4:16am
Quoting sidefx
...yes, so FF should perhaps have a Trading Strategies forum in which this strat would belong. I can understand the frustration here, as we're posting in a Trading Systems forum, which by definition should contain purely rules based / mechanical criteria with no room for discretion.
Correct there is no difference at the moment, This is a strategy, not a system, as far as 60mm is concerned
  • #152
  • Mar 7, 2012 4:24am Mar 7, 2012 4:24am
Hi all,
I would like to thank the 60 Minuteman for sharing a great system. Finally, someone opened my eyes. Yesterday 4 winning trades in a live account, no losers.
Many pips to all
  • #153
  • Mar 7, 2012 4:36am Mar 7, 2012 4:36am
Quoting Seabreeze
Just to clear any confusion for newbies or anyone not normaly trading this style, it would be very helpful is 60minuteman was to post some trades with explanations to why you should enter them and others explaining why you should not take the trade and the money management behind it as mm is as important as the strategy.

Otherwise you are just going to have a long thread with a lot of headless chickens and the same old questions..

This way you will develope a quality thread that will last longer than a few pages..

Just my thoughts..
Ok Seabreeze I will do that next week, I was a bit surprised that the thread took off so quickly and havent really had the time so far to break trades down.

There are many ways to trade with these edges, you can trade it aggressively or conservatively, pulling it all together depends a lot on the trader and how he wants to trade, what his weakness and strengths are etc etc.

I would recommend keeping a journal of your own trades and making some notes about the results and any observations, seems boring but things can jump out at you and you develop your own style that fits in with your trading pattern and psyche...
tradewith60
  • #154
  • Mar 7, 2012 4:37am Mar 7, 2012 4:37am
Quoting renos
Hi all,
I would like to thank the 60 Minuteman for sharing a great system. Finally, someone opened my eyes. Yesterday 4 winning trades in a live account, no losers.
Many pips to all
well done Renos, feel free to post some charts and notes.
tradewith60
  • #155
  • Mar 7, 2012 4:46am Mar 7, 2012 4:46am
Quoting 60minuteman
Ok Seabreeze I will do that next week, I was a bit surprised that the thread took off so quickly and havent really had the time so far to break trades down.

There are many ways to trade with these edges, you can trade it aggressively or conservatively, pulling it all together depends a lot on the trader and how he wants to trade, what his weakness and strengths are etc etc.

I would recommend keeping a journal of your own trades and making some notes about the results and any observations, seems boring but things can jump out at you and you develop...
Good post and sound advise...I too keep a journal because thats what my past mentors have advised...My mentors have been trading for 25 years and they still keep a journal, everything tiny move and thought is logged..

You have the makings of a good thread hear so well done

Look forward to your charts...I will take part when ever I can as I own a retail business as well as trade so may not have too much spare time..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #156
  • Mar 7, 2012 4:50am Mar 7, 2012 4:50am
http://www.forex4noobs.com/forex-blo...d-to-forex.jpg

Ok forget the sales blurb on this, beyond that its pretty insightful, I know I have been on this road.

This is obvious stuff for the more experienced on here but might be useful for the newer traders...

When you find a method that you like and works for you, to an extent, you then need to develop YOUR plan to trade it
tradewith60
  • #157
  • Mar 7, 2012 5:03am Mar 7, 2012 5:03am
Quoting Seabreeze
Good post and sound advise...I too keep a journal because thats what my past mentors have advised...My mentors have been trading for 25 years and they still keep a journal, everything tiny move and thought is logged..

You have the makings of a good thread hear so well done

Look forward to your charts...I will take part when ever I can as I own a retail business as well as trade so may not have too much spare time..
Thanks sea breeze, I run my own business too, hence trading mainly H4, I only need to check the charts every four hours and that works for me
tradewith60
  • #158
  • Mar 7, 2012 5:15am Mar 7, 2012 5:15am
Quoting traderjess87
There is a bearish engulfing candle on the H4
my alpari chart aint showing that. fascinating how each brokers chart differs in content.
  • #159
  • Mar 7, 2012 5:16am Mar 7, 2012 5:16am
Quoting sniperfxmy
ops... for to post my last trade b4 nfp on friday

happy pipping!

edit: pls. ignore the bb

Sniper

Where is the bearish engulfing candle? Were you getting poetic with the interpretation of the rules?

Olu
If you think you can or cannot do it you are correct
  • #160
  • Mar 7, 2012 5:18am Mar 7, 2012 5:18am
i would advise all to forget ea's. otherwise another good thread would be cluttered with nonsense and go off track. ea's are a waste of time.
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