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Symphonie Trader System

  • #8,941
  • Mar 15, 2012 11:13am Mar 15, 2012 11:13am
Dear Helena

when you aim for 10pip moves during ranging markets, what stop loss do you use?
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  • #8,942
  • Mar 15, 2012 11:24am Mar 15, 2012 11:24am
thanks guys.. I think I'll step away from the 5m timeframe. I'll stick to 1hr and lower my position sizes so I can take in more consistant pips ..

I guess I'm not ready for all the noise on the lower timeframes as I was used to trading the 4hr charts before finding this system and I think the 1hr is perfect for this system and for how I want to trade it.



besides the ramble was able to hit tp1 on Usdchf for 42 pips.

up 20 pips on EU and 5 pips on ucad
  • #8,943
  • Mar 15, 2012 11:33am Mar 15, 2012 11:33am
Quoting Dyekid217
thanks guys.. I think I'll step away from the 5m timeframe. I'll stick to 1hr and lower my position sizes so I can take in more consistant pips ..

I guess I'm not ready for all the noise on the lower timeframes as I was used to trading the 4hr charts before finding this system and I think the 1hr is perfect for this system and for how I want to trade it.



besides the ramble was able to hit tp1 on Usdchf for 42 pips.

up 20 pips on EU and 5 pips on ucad
Hmm when do you think it is too late to enter on the 1H chart? Or do you think, we should take fresh signals only?
  • #8,944
  • Mar 15, 2012 11:37am Mar 15, 2012 11:37am
Quoting fxwall
Hi Blackeagle,
nice work, "pipmonster"!

I'm testing H1 in EURUSD too.

in H1 TF you trade when four "amigos" are blue or red or you wait for other confirmation?
your settings is the same as in post#1 "1,3,3 ...." and "30,5" ?

Thanks for your help

see post 8449
  • #8,945
  • Edited 11:52am Mar 15, 2012 11:39am | Edited 11:52am
Quoting Rokz
Hmm when do you think it is too late to enter on the 1H chart? Or do you think, we should take fresh signals only?
backtesting it looks like the best signals are during the london/ny session. That's the only time I trade anyways since its when the market offers the most liquidity.

also the 1hr doesnt repaint too often so I usually just take a signal if it looks good enough and theres enough time left until the NY close.. then I just follow the 4 extreme exit rule from there. usually by that time I'm in some profit atleast or my target is hit
  • #8,946
  • Mar 15, 2012 11:58am Mar 15, 2012 11:58am
Quoting Dyekid217
backtesting it looks like the best signals are during the london/ny session. That's the only time I trade anyways since its when the market offers the most liquidity.

also the 1hr doesnt repaint too often so I usually just take a signal if it looks good enough and theres enough time left until the NY close.. then I just follow the 4 extreme exit rule from there. usually by that time I'm in some profit atleast or my target is hit
Since it's an hourly chart you may be AFK when the extreme show themselves. I think I will give the FibExtension a good go with this one. Will you be ignoring lower timeframes? Also, how many pairs are you running for the 1H?

I was going great this week with Symph on the 5min, that was, until I wandered into the Interactive Trading section of FF. Man that place is dangerous, so many opinions I need to keep out, it is ruining my trading.

I need a break from the 5min, it's doing my head in, I think I'll follow you into the solo 1H timeframe.
  • #8,947
  • Mar 15, 2012 12:05pm Mar 15, 2012 12:05pm
yeah interactive traders have done me no good.. too much bias and not enough actual thinking going on.

I'm testing fib retracement levels as tp and sl.. I will set my trade to BE once Target 1 is hit and letting the trade ride until TP2 is hit. so far 4/4 and haven't exited due to 4 extremes yet.

EDIT: tp2 just hit on EU for 52 pips gain.. ah finally a 100 pip day after a dry spell
  • #8,948
  • Mar 15, 2012 12:09pm Mar 15, 2012 12:09pm
i already see but i don´t understand.
he enter two orders, one M15 and another in H1 ?


Quoting bobmorloc
see post 8449
  • #8,949
  • Mar 15, 2012 12:20pm Mar 15, 2012 12:20pm
Quoting fxwall
i already see but i don´t understand.
he enter two orders, one M15 and another in H1 ?

no i think post 8885 was an example to show how many pips can be made.
maybe it's better to stick to only one time frame and one or two currencies. step by step
  • #8,950
  • Mar 15, 2012 12:29pm Mar 15, 2012 12:29pm
thanks

i'm testing since 06-03-2012 in H1 only eurusd and the results seems consistent for now, with return of 14.50%, with appropriate MM.

Quoting bobmorloc
no i think post 8885 was an example to show how many pips can be made.
maybe it's better to stick to only one time frame and one or two currencies. step by step
  • #8,951
  • Mar 15, 2012 3:14pm Mar 15, 2012 3:14pm
EU reached TP 1 which is all I go for You will have to excuse not having the matrix on there, 2 trading stations can't handle the templates on there at the same time, I look at the other account for that.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu1hr2.gif Size: 23 KB
  • #8,952
  • Mar 15, 2012 3:20pm Mar 15, 2012 3:20pm
Quoting ohammond
EU reached TP 1 which is all I go for You will have to excuse not having the matrix on there, 2 trading stations can't handle the templates on there at the same time, I look at the other account for that.
hi olivia... any reason why you dont go for tp2? I've hit 2 of them so far today.. but I've been testing to put my trade to BE once tp1 is hit.. that way I find to be quite profitable in the long run since the RR is close to 1:2

4/4 testing this method so far

I was contemplating only aiming for tp1 but it's less than 1:1 most times since you add in the spread.
  • #8,953
  • Mar 15, 2012 3:22pm Mar 15, 2012 3:22pm
To save any confusion, this is the chart I was looking at when I took the trade.
Attached Image (click to enlarge)
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  • #8,954
  • Mar 15, 2012 3:23pm Mar 15, 2012 3:23pm
Quoting Dyekid217
hi olivia... any reason why you dont go for tp2? I've hit 2 of them so far today.. but I've been testing to put my trade to BE once tp1 is hit.. that way I find to be quite profitable in the long run since the RR is close to 1:2

4/4 testing this method so far

I was contemplating only aiming for tp1 but it's less than 1:1 most times since you add in the spread.
Mainly because I have to go away from the computer a lot on and off during the day, the chances of it reaching TP1 are very very high, tp2 not so high, so I would rather not take the chance.
  • #8,955
  • Mar 15, 2012 3:24pm Mar 15, 2012 3:24pm
Four cases arguing for price action reversal in EURUSD.

Case 1

The price action has reached the downchannel top and should now reversal and push downward to the channel bottom at 1.27798.

Case 2
The price action of the EURUSD rallies exactly to the 61.8 fib and then is rejected where the fib reversal now points to a drop to 1.28800 before any fib support.

Case 3
The price action in the hourly has put is a classic top signal where there is a long wick on the topping candle that is followed by two down candlesticks that encompass the topping candle is 50% greater than the body of the topping candlstick. This is a classic sign of a reversal top in pure technical terms.

Case 4 (Symphonie Case)
From a strict Symphonie case we have 4 red extreme bars in the extreme indikator of the Symphonie Matrix that tells one that a top maybe in place and look to take the next Symphonie Sell signal soon as the other indikators change to agree with the extreme spike.


Therefore, based on these cases I believe the EURUSD has reached its top rally point from a technical charting aspect and will look to sell strong the next Symphonie SELL signal as the price aciton completes the end push to the expanding triangle pattern as shown in my post #7158.
Which seems like ancient history compared to now.

Evaluator.:nerd:
Attached Image (click to enlarge)
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  • #8,956
  • Mar 15, 2012 3:25pm Mar 15, 2012 3:25pm
ok gotcha.. Seems tp2 has been working for me since I have time to check at the end of every hourly candle.

If price seems exhausted by the time it hits tp1 I'll take half off and let the second half run
  • #8,957
  • Mar 15, 2012 3:33pm Mar 15, 2012 3:33pm
Quoting Dyekid217
I was contemplating only aiming for tp1 but it's less than 1:1 most times since you add in the spread.
I've thought about that a lot, and the 1:1 or 1:2 etc doesn't bother me too much, as our stop losses are variable. It matters a lot if for instance, you have a set 20 pip stop loss and 10 pip take profit, you need the r:r to be very good so that you can come out on top consistently. If I have longer term trades in, one trade I could have 30 pip stop loss and another time I could have a 60 pip stop loss, so you could have 1:2 risk reward, the smaller one wins and the larger one loses, thats now +60 on the winner and -120 on the loser. If you move your stop loss to breakeven +1 that completely mucks it all up anyway.

The way around that is to vary your lot size and I don't like to do that either, for the same sorts of reasons, the larger lot size could lose and the smaller one could win, same scenario.

Just my 2 cents
  • #8,958
  • Edited 3:49pm Mar 15, 2012 3:39pm | Edited 3:49pm
actually after some backtesting I might be incorrect about TP1 and tp2.. it looks like TP1 will definately be sufficient when trading. I will test it more tonight and next week.

I just need to make sure I'm placing the fib retracement at the correct swing high/low

also I will definately start adjusting my lot size based on the size of the SL
  • #8,959
  • Mar 15, 2012 4:01pm Mar 15, 2012 4:01pm
Quoting Dyekid217

also I will definately start adjusting my lot size based on the size of the SL
If you're going to do that, make sure you do it based on % of your account, so if you only want to risk 2% divide that amount by the amount of pips, also don't forget to take into account some currencies are worth more per pip than others depending on what currency your account is based in
  • #8,960
  • Mar 15, 2012 4:08pm Mar 15, 2012 4:08pm
yup got it =)

also added tdi instead of stoch since that's what I'm more comfortable with
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