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Buy sell line trading

  • #641
  • Mar 16, 2012 7:52am Mar 16, 2012 7:52am
Quoting NuBeez
OMG out +51...that was too fast.
you're going well mate, I had wins on GJ EJ and GU and a loss on UCHF..
tradewith60
  • #642
  • Mar 16, 2012 7:54am Mar 16, 2012 7:54am
Quoting 60minuteman
you're going well mate, I had wins on GJ EJ and GU and a loss on UCHF..
Thanks 60mm! Great trading to you too! I think I am going to be satisfied here for this week. Have good weekend!
Consistency = Steady growth = Solid equity
  • #643
  • Mar 16, 2012 8:14am Mar 16, 2012 8:14am
Just want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing,

It's really important that all your trades are risking the same %age of your account, so regardless wether the stop is 80 pips or 20 pips you should be risking 1 or 2% of your account (or whatever figure you're comfortable with).
But you must be consistent!

I guess this is pretty obvious and basic stuff, but imho it is important..

So I have had 4 trades, 3 wins and 1 loss.

My wins were +4%, +4% and +2% and my loss was -2%.. So I could have 3 more losses today and have a win/lose ratio of 3/4 but still be +2% ....does that make sense? you winners will sometimes race to 2/1 but your losers will always be equal.
tradewith60
  • #644
  • Mar 16, 2012 8:56am Mar 16, 2012 8:56am
Quoting NuBeez
Thanks 60mm! Great trading to you too! I think I am going to be satisfied here for this week. Have good weekend!

well done mate impressive trading. and well done 60mm
  • #645
  • Mar 16, 2012 9:31am Mar 16, 2012 9:31am
Quoting 60minuteman
Just want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing,

It's really important that all your trades are risking the same %age of your account, so regardless wether the stop is 80 pips or 20 pips you should be risking 1 or 2% of your account (or whatever figure you're comfortable with).
But you must be consistent!

I guess this is pretty obvious and basic stuff, but imho it is important..

So I have had 4 trades, 3 wins and 1 loss.

My wins were +4%, +4% and...
60minuteman

I agreed with proper RR and MM.
About the %, I am not sure.

For $1000, 2%=$20.0
$980.00, 2%=$19.6
$960.40, 2%=$19.2

One can never cover back to $1000 if he profits at 3rd trade, for R:R 1:2, he gets back to USD998.80

if you use same amount for each trade USD20, then one will return to $1000 at the 3rd trade profit.

English is not my main. I think you get the picture.

Just my opinion. Happy Trading.

p.s. I like your simple and easy trading method. Please keep posting.
  • #646
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting yongezy
60minuteman

I agreed with proper RR and MM.
About the %, I am not sure.

For $1000, 2%=$20.0
$980.00, 2%=$19.6
$960.40, 2%=$19.2

One can never cover back to $1000 if he profits at 3rd trade, for R:R 1:2, he gets back to USD998.80

if you use same amount for each trade USD20, then one will return to $1000 at the 3rd trade profit.

English is not my main. I think you get the picture.

Just my opinion. Happy Trading.

p.s. I like your simple and easy trading method. Please keep posting.
Ok, I see your point, I guess it depends in what order your wins and losses come in... im not great with figures though.

What im trying to get across though is the importance of not taking trades where your risk increases massively because of the size of your stop, each trade should have relatively equal risk.... for financial as well as psychological reasons.
tradewith60
  • #647
  • Mar 16, 2012 10:05am Mar 16, 2012 10:05am
Markets actually gives a lot of patterns. Some indicators works perfectly with some patterns and when those patterns are not there then they show losses. There is no single method that works with every pattern. So the conclusion is that every method is good which is according to standards.
  • #648
  • Edited 10:20pm Mar 16, 2012 10:11am | Edited 10:20pm
Quoting 60minuteman
Ok, I see your point, I guess it depends in what order your wins and losses come in... im not great with figures though.

What im trying to get across though is the importance of not taking trades where your risk increases massively because of the size of your stop, each trade should have relatively equal risk.... for financial as well as psychological reasons.
60minuteman

Don't worry much. I have a feeling your trading is disciplined. Likely this is no much different between % and "same amount" concepts. Otherwise it would hurt as excessive winning trades would be needed to recover the many losses.

p.s. When you free, do this in excel for 3 loss vs 1 win, you will find the answer.

p.s. I will study your trading method over the weekend.

Cheers
  • #649
  • Mar 16, 2012 10:20am Mar 16, 2012 10:20am
Quoting 60minuteman
Just want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing,

It's really important that all your trades are risking the same %age of your account, so regardless wether the stop is 80 pips or 20 pips you should be risking 1 or 2% of your account (or whatever figure you're comfortable with).
But you must be consistent!

I guess this is pretty obvious and basic stuff, but imho it is important..

So I have had 4 trades, 3 wins and 1 loss.

My wins were +4%, +4% and...
Quoting yongezy
60minuteman

I agreed with proper RR and MM.
About the %, I am not sure.

For $1000, 2%=$20.0
$980.00, 2%=$19.6
$960.40, 2%=$19.2

One can never cover back to $1000 if he profits at 3rd trade, for R:R 1:2, he gets back to USD998.80

if you use same amount for each trade USD20, then one will return to $1000 at the 3rd trade profit.

English is not my main. I think you get the picture.

Just my opinion. Happy Trading.

p.s. I like your simple and easy trading method. Please keep posting.
Too bad a thing exist, it's called negative compounding.
You can find more about it Here

But yeah, i totally agree with the principle, it works, as the system, i think that maybe we can just "fine tune" the it, without violating the integrity of the method.

For example, i find courious that the method (the way i backtested it, with the indi, and maybe is not the correct one) works better, pip-wise and cash-wise, with a low period MA instead a 50MA..
But i must backtest further, results on only two pairs means nothing, in the end.
  • #650
  • Mar 16, 2012 10:27am Mar 16, 2012 10:27am
Quoting SteMag
, i find courious that the method (the way i backtested it, with the indi, and maybe is not the correct one) works better, pip-wise and cash-wise, with a low period MA instead a 50MA..
But i must backtest further, results on only two pairs means nothing, in the end.
Hi SteMag, I just think you needed to do more pairs over a longer period, both the crosses you looked at were dollar crosses and not the best trending pairs right now.

Try running the same period on GJ and EJ for example, you will see what I mean...

If a pair is ranging more then a faster ma will get the direction change much quicker...

Im sure many ma's would work, the important thing is to be consistent in your method and have some way of deciphering trend that over time will give you an added edge... an experienced trader could do it visually alone im sure, that's why I always use my eyes too..
tradewith60
  • #651
  • Mar 16, 2012 12:50pm Mar 16, 2012 12:50pm
weekly results

Here are the results with charts for the week if you stuck strictly to the rules on page 1..

H4 TIMEFRAME

12 PAIRS

22 WINS
5 LOSSES
2 BREAKEVEN

So taking profit at 1/1 and not pushing for more would of resulted in +34% (based on 2% risk per trade)
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tradewith60
  • #652
  • Mar 16, 2012 12:53pm Mar 16, 2012 12:53pm
*rest of the weeks charts
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Attached Image
tradewith60
  • #653
  • Mar 16, 2012 1:12pm Mar 16, 2012 1:12pm
60MM, great results this week...your charts are bit unclear...what 12 pairs do you currently monitor each day?
  • #654
  • Mar 16, 2012 1:18pm Mar 16, 2012 1:18pm
Quoting Madness
60MM, great results this week...your charts are bit unclear...what 12 pairs do you currently monitor each day?
It varies, I have a scan at the start of the week and pick the best trending pairs...

results were

GU
EU
AU
NU
ECAD
EG
EJ
GJ
UJ
ECHF
GCHF
UCHF
tradewith60
  • #655
  • Edited 3:01pm Mar 16, 2012 2:08pm | Edited 3:01pm
60minuteman, congrats for the great results. As I said earlier, I find this system very attractive, mostly because of it`s simplicity.
I`ve already started backtesting on 4h TF EU and GU as we talked with SteMag and I think I may go back until January 2011 for a full picture on those couples.
So far I`ve been testing two exit strategies - the close level of the very same 4h candle, on which we took our position and 1:1 SL:TP condition.
  • #656
  • Mar 16, 2012 3:58pm Mar 16, 2012 3:58pm
Quoting 645
60minuteman, congrats for the great results. As I said earlier, I find this system very attractive, mostly because of it`s simplicity.
I`ve already started backtesting on 4h TF EU and GU as we talked with SteMag and I think I may go back until January 2011 for a full picture on those couples.
So far I`ve been testing two exit strategies - the close level of the very same 4h candle, on which we took our position and 1:1 SL:TP condition.
cool, will be good to get the data... be nice if you mixed the crosses though... eu gj, or gu ej...

December until now has been great for me trading on the H4. (although EU has sucked big time)
tradewith60
  • #657
  • Mar 16, 2012 4:53pm Mar 16, 2012 4:53pm
On the chart in your first post, you say "4. Enter if the very next candle trades below the signal candle". Sorry if this has been asked already, but are you waiting for a close below the signal candle, or do you enter as soon as the candle trades below the signal candle? Maybe consider updating the first post to make it more clear. I've found that when you make things as idiot proof as possible, it significantly decreases the number of questions asking for clarification. I learned that in the service while creating lesson plans for new troops. Sometimes you gotta "break it down Barney style" to eliminate as much confusion as possible. LOL

Nice work btw.
Get money, don't let money get you. @kauaiforex
  • #658
  • Mar 16, 2012 5:30pm Mar 16, 2012 5:30pm
Quoting NoJobRob
On the chart in your first post, you say "4. Enter if the very next candle trades below the signal candle". Sorry if this has been asked already, but are you waiting for a close below the signal candle, or do you enter as soon as the candle trades below the signal candle? Maybe consider updating the first post to make it more clear. I've found that when you make things as idiot proof as possible, it significantly decreases the number of questions asking for clarification. I learned that in the service while creating lesson plans for new...
Hi Rob, you don't need to wait for a close, as soon as you trade 1 pip below the low or high of the signal candle you enter... either manually or with a pending order.
tradewith60
  • #659
  • Mar 16, 2012 8:21pm Mar 16, 2012 8:21pm
Quoting 60minuteman
Hi Rob, you don't need to wait for a close, as soon as you trade 1 pip below the low or high of the signal candle you enter... either manually or with a pending order.
Thank you for the clarification 60minuteman.

Here's an indicator I made from editing Pattern Recognition v1.0. I edited it so it only looks for engulfing patterns (in the spirit of keeping things simple, neat, and tidy). It might be useful if you're a newer trader, or if you're like me, you also surf the web, play video games, download music etc., while monitoring your charts. This indicator will alert you when a new engulfing pattern is formed, and it will show it to you on the chart.

http://i1185.photobucket.com/albums/...ternFinder.png

Enjoy!
Attached File(s)
File Type: mq4 Engulfing Pattern Finder.mq4   5 KB | 770 downloads
Get money, don't let money get you. @kauaiforex
  • #660
  • Mar 16, 2012 9:07pm Mar 16, 2012 9:07pm
There are a few candles on the chart which look as though they might be engulfing candles, but upon reviewing the opening and closing prices of said candles and their preceding candles, it was found that they were technically not engulfing candles. Just thought I'd throw that out there...

Get money, don't let money get you. @kauaiforex
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