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The MotherFibber

  • #141
  • Apr 11, 2012 7:25am Apr 11, 2012 7:25am
breakfast...
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  • #142
  • Apr 11, 2012 7:26am Apr 11, 2012 7:26am
Quoting infinipipz
it is available on FF, but here u go.
nice indi!!!!!
  • #143
  • Apr 11, 2012 8:41am Apr 11, 2012 8:41am
Quoting panguFX
breakfast...

where did you place your stop on this trade ?
  • #144
  • Apr 11, 2012 9:20am Apr 11, 2012 9:20am
nice first winner for me...

http://i589.photobucket.com/albums/s...2Apr112217.jpg

Me too can't babysit the trade, I use MPTM to manage the trade and close at 12pips
  • #145
  • Apr 11, 2012 9:44am Apr 11, 2012 9:44am
Quoting whatfx
where did you place your stop on this trade ?
the unclosed trend extreme bar was 19 pips long, so i set my SL for 30 pips.
  • #146
  • Apr 11, 2012 9:45am Apr 11, 2012 9:45am
Quoting infinipipz
nice first winner for me...

http://i589.photobucket.com/albums/s...2Apr112217.jpg

Me too can't babysit the trade, I use MPTM to manage the trade and close at 12pips
can MPTM follow rule number 7?
  • #147
  • Apr 11, 2012 1:25pm Apr 11, 2012 1:25pm
how i miss it?
never mine tomorow newday have agod night
thank for the system
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  • #148
  • Apr 11, 2012 6:44pm Apr 11, 2012 6:44pm
Quoting panguFX
can MPTM follow rule number 7?
unfortunately it can't.
  • #149
  • Apr 11, 2012 8:08pm Apr 11, 2012 8:08pm
Quoting panguFX
the unclosed trend extreme bar was 19 pips long, so i set my SL for 30 pips.

if you had followed rule 7 , then you would have come out at B.E. why did you not follow rule 7 in this case, as the price did retrace to almost the SL.
  • #150
  • Apr 11, 2012 8:31pm Apr 11, 2012 8:31pm
Quoting whatfx
if you had followed rule 7 , then you would have come out at B.E. why did you not follow rule 7 in this case, as the price did retrace to almost the SL.
Didn't go "past trend extreme" bar.
ie price didn't go higher than top of extended bar.
My ibfx shows 4 pips short then continued down to tp.

cheers scalpz
Target 2 : Stoploss in the green
  • #151
  • Apr 11, 2012 11:21pm Apr 11, 2012 11:21pm
Quoting panguFX
this strategy theoretically can work on any broker's data. I have
seen ibfx and forex.com/gain have horrible horrible data.

my favorite data....
http://alpari-forex.com/en/metatrader/?tab=2

(S.T.A.R. traders use this data.)

enjoy
What do you mean horrible data? I would have thought that the only relevant difference would be that the candles end at difference times between brokers.

When do alpari daily candles end?
  • #152
  • Apr 12, 2012 2:17am Apr 12, 2012 2:17am
I do like the idea but how many trades per week can this system produce?
  • #153
  • Apr 12, 2012 4:33am Apr 12, 2012 4:33am
Quoting richhand
What do you mean horrible data? I would have thought that the only relevant difference would be that the candles end at difference times between brokers.

When do alpari daily candles end?
bucket shop brokers make up their own price. I once saw a 200-300 pip move on usd pairs, and ibfx didn't show the move until 10 mins later.
  • #154
  • Apr 12, 2012 4:33am Apr 12, 2012 4:33am
Quoting richhand
I do like the idea but how many trades per week can this system produce?
usually at least 1 per day, and quite often 2-3 trades per day.
  • #155
  • Apr 12, 2012 5:19am Apr 12, 2012 5:19am
Quoting panguFX
usually at least 1 per day, and quite often 2-3 trades per day.
so you could get atleast 50 pips profit per week?
  • #156
  • Apr 12, 2012 6:41am Apr 12, 2012 6:41am
Quoting richhand
What do you mean horrible data? I would have thought that the only relevant difference would be that the candles end at difference times between brokers.

When do alpari daily candles end?

 Hi Richhand,

With Alpari (UK) you may trade Forex from 22:00 (UK time) Sunday to 22:00 (UK time) Friday.

Our MT4 trading platform server time zone is Eastern European Time (EET) or UK time +2. The first candle in the chart starts on Monday at 00:00:00 EET and the last candle will close on Friday at 23:59:59 EET.

Therefore, from Monday to Friday the daily candles close at 23:59:59 EET.



Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #157
  • Apr 12, 2012 7:05am Apr 12, 2012 7:05am
Quoting Alpari UK

 Hi Richhand,

With Alpari (UK) you may trade Forex from 22:00 (UK time) Sunday to 22:00 (UK time) Friday.

Our MT4 trading platform server time zone is Eastern European Time (EET) or UK time +2. The first candle in the chart starts on Monday at 00:00:00 EET and the last candle will close on Friday at 23:59:59 EET.

[font=Verdana][size=2]Therefore, from Monday to Friday the daily...
wow, alpari uk, how did you find my thread?
  • #158
  • Apr 12, 2012 7:08am Apr 12, 2012 7:08am
Quoting richhand
so you could get atleast 50 pips profit per week?
depends on how much sleep you need.
  • #159
  • Apr 12, 2012 7:13am Apr 12, 2012 7:13am
a recent up move of 81 pips ended at level 13174.

so, a sell is to be taken. but, the extreme candle is over 32 pips in total length. so entering a sell at the low of the extreme candle may be risky. what say you people ?
  • #160
  • Apr 12, 2012 7:21am Apr 12, 2012 7:21am
Quoting richhand
so you could get atleast 50 pips profit per week?

not really. remember there could be losses too. this method has bad risk reward of 2:1. i dont usually touch anything that is less than 1:1 risk reward. but iam just testing this method out.

you only have to make 1 or 2 losing trades a week to negate any pips you would have made.

e.g you win 3 days in a row. 3 wins, make 15 pips each win, so 45 pips in total. you then have 2 losing trades. thats 30 pips loss on each trade, total 60 pips loss.

overall in the week you would be down -15 pips.

so you need to be careful here, cannot expect to make pips with such a bad r:r. extremely careful.
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