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Symphonie Trader System

  • #8,161
  • Mar 8, 2012 5:49pm Mar 8, 2012 5:49pm
Quoting Jane_peters
RJ what kind of SL do you have when trading on the 5min. Would you suggest a SL of 10 pip to be fine or too tight.
Hi Jane......I generally place my stops above the previous swing high if I am going short, or below the previous swing low if I'm going long. The exceptions are if there is a pivot or a previous S/R line nearby, then I will place the stop on the appropriate side of that pivot or S/R line.

I think hard stops of 'x' number of pips are ok for an emergency stop, but I think a 10 pip stop is too tight and will get hit fairly frequently.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,162
  • Mar 8, 2012 6:09pm Mar 8, 2012 6:09pm
Thanks RJ
  • #8,163
  • Edited 6:49pm Mar 8, 2012 6:37pm | Edited 6:49pm
What is everyone's experience setting fibo levels as tp? Either expansion or Retracements?

also anyone know why autorefresher resets my toolbars to this??
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  • #8,164
  • Mar 8, 2012 7:21pm Mar 8, 2012 7:21pm
Quoting Dyekid217
What is everyone's experience setting fibo levels as tp? Either expansion or Retracements?

also anyone know why autorefresher resets my toolbars to this??
I thought 1.9 had Auto Refresh built in. But try this, move all your toolbars how you want them, then exit the program yourself before autorefresh reverts them, this should save their new state as default.

By the way I've set my fib expansion as -0.618 for SL and 1.618 as TP, which is really just 1:1. What are your settings, yours seem better?
  • #8,165
  • Mar 8, 2012 7:38pm Mar 8, 2012 7:38pm
I set two tps.. one at 1.618 and 2.618

If pa gets to my tp 1 I'll either set my stop to BE or take half of my position off if I'm unsure where price will go.. I mainly like to go for option 1 though and have a risk-free trade.
  • #8,166
  • Mar 8, 2012 7:48pm Mar 8, 2012 7:48pm
Quoting Dyekid217
I set two tps.. one at 1.618 and 2.618

If pa gets to my tp 1 I'll either set my stop to BE or take half of my position off if I'm unsure where price will go.. I mainly like to go for option 1 though and have a risk-free trade.
Ahh righto thanks. Have you been breaking it down in thirds? Letting the last third, after TP2, run until 1HR SuperTrend says otherwise? Or you close whole position at TP2.

From what I have found, this money management is what will either make you or break you as a trader you need to find a MM edge. I think I've been closing most of my trades too early. But I suppose profit is profit.
  • #8,167
  • Mar 8, 2012 8:06pm Mar 8, 2012 8:06pm
I like exiting full at TP2. There will be plenty of other opportunities to capitalize on.

What I like doing though is scanning multiple pairs so that small TP's are taken rather than trying to catch one big move on a single pair.

Right now I'm looking at AU. There was a lower than expected CPI release and it's showing bearish signs with a good selloff candle. Also were bouncing off the 200 ema and a 50 fibo level...and a double top to add to that

Confluence to add the odds in my favor :nerd:
but still I'm sidelined.. I like to trade only during london and US when the big players are really active
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  • #8,168
  • Mar 8, 2012 11:13pm Mar 8, 2012 11:13pm
More Madness on Greek PSI.

EXCLUSIVE - Hedge funds find loophole to trigger Greek default

http://www.reuters.com/article/2012/03/08/hedgefunds-legal-idINDEE8270H520120308

Reuters Reports That Hedge Funds Have Found Greek Default Trigger Loophole

http://www.zerohedge.com/print/444870



Two years is long enough!!!!!!.....End it now please....someone please have the band stop playing because there is no chairs for Greece regardless how long you keep playing the music.
  • #8,169
  • Mar 8, 2012 11:25pm Mar 8, 2012 11:25pm
It is really funny that these people are still pushing to buy the euro. It is not really Greece that makes me such a Euro Bear at the moment. I am very much pro Euro but the facts do not support a Euro at the price it is now. The Euro is greatly over valued right now and the longer these stupid EU politicians play candy man with the numbers the worse the final correction.

Anyway, the reason I am a Euro bear is because I see what is after Greece and that is the other PIIGS nations and how much of a real impact they will be on the European Community. My real major concerns in the immediate is not Ireland or Portugal....IT IS SPAIN!

There is no amount of money the ECB can print to prevent a full blown collapse if Spain goes or leave the EU to inflate it home currency to correct the debt problems. This is the real bomb in my opinion and the fuse is getting really short.

Excellent article from Financial Times on Spain.

Alarm sounds over Spain’s rising public debt

http://www.ft.com/cms/s/0/2c02be0c-6...#axzz1oasIU9fu
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  • #8,170
  • Mar 8, 2012 11:30pm Mar 8, 2012 11:30pm
Can someone pretty please tell me exaclty which indicators I should be using, as I've downloaded all sorts of indicators from here , the original ones and then I downloaded Matrix 1.6, Symphony 1.7ver , Symphony 1.9ver and also the refresher and super trend alerts and so on.

I'm getting totally confused as to which ones I should be running and if to only run one or multiple indicators at the same time? also if I run them on individual charts like say I have 4 charts open 5M 15M 1H 4H would the signal be different on different time frames??

Also what are the best settings to be running this system on? I'd be really interested to hear what settings have been working best for you? as it seems different versions have different settings and also different people are making their own settings??

Thank you very much in advance for your kind help.
  • #8,171
  • Mar 8, 2012 11:58pm Mar 8, 2012 11:58pm
Quoting Daytrader74
Can someone pretty please tell me exaclty which indicators I should be using, as I've downloaded all sorts of indicators from here , the original ones and then I downloaded Matrix 1.6, Symphony 1.7ver , Symphony 1.9ver and also the refresher and super trend alerts and so on.

I'm getting totally confused as to which ones I should be running and if to only run one or multiple indicators at the same time? also if I run them on individual charts like say I have 4 charts open 5M 15M 1H 4H would the signal be different on different time frames??...

Depends on what is easiest for your to 'see' so you can trade effectivly. All will behave the same way if the inputs for each indicator are the same, see the latest settings in post #1 for the correct settings.

The 1.9 beta matrix allows you to see the status of all timeframes in one chart you can also have the alerts set so that 2 time frames have to be in sync.

The other indicators are giving signals for a particular time frame.

In my case I prefer the combo indicator + the v2 extreme indicator +placing the trend indicator on the chart with my candlesticks.

I am doing this for the 1 hr and 5 min chart. I enter on the 5 min chart when it is giving a entry signal along with the 1 hr chart with all 4 indicators pointing in the same direction. IMO this keeps you trading with the trend.


Excellent trading tip from Evaluator in post #2449. I have used this and alo will look at the stochastic on the 1 & 5 min chart to see if there is an over bought or oversold condition and will wait for the Stochastic to move to )pull back) and reverse before entering.

I also lok at the avg daily range and pivots to set take profits.
  • #8,172
  • Mar 9, 2012 12:03am Mar 9, 2012 12:03am
Quoting Daytrader74
Can someone pretty please tell me exaclty which indicators I should be using, as I've downloaded all sorts of indicators from here , the original ones and then I downloaded Matrix 1.6, Symphony 1.7ver , Symphony 1.9ver and also the refresher and super trend alerts and so on.

I'm getting totally confused as to which ones I should be running and if to only run one or multiple indicators at the same time? also if I run them on individual charts like say I have 4 charts open 5M 15M 1H 4H would the signal be different on different time frames??

Also...
Some people like the signaller, some the matrix, some like the autorefresher some don't, its really a matter of personal choice. Think of it this way, if you are not sure of the signals yourself, or you want to have other confirmations before you take the trade, for instance heiken ashi or a higher timeframe confirmation then use one of the signallers, don't use 1.8 its too buggy, 1.7 will give you the tp and sl levels, 1.9 has more confirmations if you want them and also takes up less room on the chart. If you only want to work on the timeframe you're on and you know when you should be going into a trade, then use one of the matrices.

I personally just use the matrix 1.6 with the settings 1,3,2 for the extreme part of it and 20,5 for the trendline (the rest of the settings at the default) on all the timeframes and refresh the chart myself but that is also personal choice.

Try them on different charts and see which you feel more comfortable with but really they all in the end do the same job just different approaches.
  • #8,173
  • Mar 9, 2012 12:10am Mar 9, 2012 12:10am
For those who do not already know the Greece PSI participation number came in at:


85.8%

Which is well below the needed 95% to quality for EU bailout funds that the EU outlined as condition for additional bailout money. Let us see how the spineless EU politcians deal with that........

This has the elements of a massive reversal drop in the EURUSD.

Today is going to be fun!!!!!

Evaluator.:nerd:
  • #8,174
  • Mar 9, 2012 12:14am Mar 9, 2012 12:14am
Quoting ohammond
Some people like the signaller, some the matrix, some like the autorefresher some don't, its really a matter of personal choice. Think of it this way, if you are not sure of the signals yourself, or you want to have other confirmations before you take the trade, for instance heiken ashi or a higher timeframe confirmation then use one of the signallers, don't use 1.8 its too buggy, 1.7 will give you the tp and sl levels, 1.9 has more confirmations if you want them and also takes up less room on the chart. If you only want to work on the timeframe...

Olivia,

You are exactly correct! Also, if one just reads post#1 they will see the current best (optimized settings).

Nice post!

Evaluator.:nerd:
  • #8,175
  • Mar 9, 2012 12:26am Mar 9, 2012 12:26am
Quoting Evaluator
...

This has the elements of a massive reversal drop in the EURUSD.

Today is going to be fun!!!!

Evaluator.:nerd:
And Symphonie M15 has given a perfect sell signal on the vertical red line. We have a small problem at 1.3225. If cleared, downside potential is good for today.

Regards,
Blackeagle
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  • #8,176
  • Mar 9, 2012 12:28am Mar 9, 2012 12:28am
Quoting Blackeagle
And Symphonie M15 has given a perfect sell signal on the vertical red line.

Regards,
Blackeagle


Yes. I liked 15 min when I was trading that timeframe. I may return next month.
  • #8,177
  • Mar 9, 2012 12:30am Mar 9, 2012 12:30am
Olivia, Yelena,
I'm trying to pick a swing low on the 1Hr chart. Is Daily S1 too ambitious?
Cheers,
.... laughing all the way to the bank
  • #8,178
  • Mar 9, 2012 12:36am Mar 9, 2012 12:36am
Quoting Evaluator
Yes. I liked 15 min when I was trading that timeframe. I may return next month.
Definitely recommend (LOL - as if you don't know). Very relaxing and you don't need to glue to the screen as in M5 or shorter.
  • #8,179
  • Edited 12:58am Mar 9, 2012 12:38am | Edited 12:58am
3232 is the Daily Pivot & the Daily 38.2 fib retracement. It is alo the 38 fib retracement for the price drop that went from mid oct 11 to mid jan 12.

If this breaks it could be an interesting. I will sit out since I dislike the day of the NF payroll and this Greece business on top of it, hope this gets out of the market's system today.
  • #8,180
  • Mar 9, 2012 12:48am Mar 9, 2012 12:48am
Quoting njfx
3232 is the Daily Pivot & the Daily 38.2 fib retracement. It is alo the 28 fib retracement for the price drop that went from mid oct 1 to mid jan 12.

If this breaks it could be an interesting. I will sit out since I dislike the day of the NF payroll and this Greece business on top of it, hope this gets out of the market's system today.
Yeah that's right, this is a very tough area and I would be surprised if it just crumbled easily
Doing what you like is Freedom. Liking what you do is Happiness.
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