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  • #161
  • Apr 12, 2012 7:21am Apr 12, 2012 7:21am
Quoting whatfx
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 ?
no trade.
  • #162
  • Apr 12, 2012 7:23am Apr 12, 2012 7:23am
Quoting panguFX
no trade.

why no trade ?
  • #163
  • Apr 12, 2012 7:25am Apr 12, 2012 7:25am
Quoting whatfx
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...
thats why its important to keep a winrate higher than 80% to be profitable.
  • #164
  • Apr 12, 2012 8:00am Apr 12, 2012 8:00am
Quoting whatfx
why no trade ?
m30 trend extreme bar was too long, and we'v already had a decent retracement back to the 38 before we hav a new valid m30 TE BAR
the move has already given its pips
  • #165
  • Apr 12, 2012 8:10am Apr 12, 2012 8:10am
Quoting panguFX
m30 trend extreme bar was too long, and we'v already had a decent retracement back to the 38 before we hav a new valid m30 TE BAR
the move has already given its pips

but you normally enter trade before the m30 extreme bar closes, do you not ? i usually wait for it to close, but yourself you enter once the 81 pips is hit and the m30 retraces a bit then you enter. as per your previous examples.

so why did you not enter immediately this time ? with sl above the high of the extreme m30. if you had entered immediately then you would have got the 10 pips. curious to know why you didnt enter whilst the m30 extreme bar was still forming, like you did in your old trades.
  • #166
  • Apr 12, 2012 9:12am Apr 12, 2012 9:12am
Quoting whatfx
but you normally enter trade before the m30 extreme bar closes, do you not ? i usually wait for it to close, but yourself you enter once the 81 pips is hit and the m30 retraces a bit then you enter. as per your previous examples.

so why did you not enter immediately this time ? with sl above the high of the extreme m30. if you had entered immediately then you would have got the 10 pips. curious to know why you didnt enter whilst the m30 extreme bar was still forming, like you did in your old trades.
i did'nt see the trade until it was too late, life got in the way.
  • #167
  • Apr 12, 2012 10:38am Apr 12, 2012 10:38am
lets see waht happen today
best luck to me and all with this trade
thank you
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd30m3.gif Size: 57 KB
  • #168
  • Apr 12, 2012 6:35pm Apr 12, 2012 6:35pm
"7) If price triggers your order, and then goes against you past the trend extreme, but doesn't hit your SL, move your TP to +1 pips or breakeven."

I'm assuming the purpose of this is to get out of a trade that's not quickly progressing in your favor, however, this could negate a profitable trade if the trade just happens to sit in a range for a while before continuing further in the favored direction.
  • #169
  • Edited 7:25pm Apr 12, 2012 7:15pm | Edited 7:25pm
Quoting ronentn
lets see waht happen today
best luck to me and all with this trade
thank you
http://www.forexfactory.com/images/attach/gif.gifeurusd4h3.gif (54.6 KB, 0 views)
http://www.forexfactory.com/images/attach/gif.gifeurusd30m3.gif (52.4 KB, 0 views)
Got same, but in & out.

12Apr12
82.5 became 84.4 then 84.6
07:30 low 1.31011
14:30 high 1.31857 plus 10 = 1.31867 SL
14:30 extended bar 1.31707 low makes 16 pips
-2 = 1.31687 for sell stop. minus 10 = 1.31587 TP
15:40 triggered on 10pip spike down
didn't make allowance for spread as on a sell trade.
wanted to move SL to BE, but already back in DD.
Closed trade at 15:52 BE -2 (missed +0).
Trade would have gone to full SL by 17:09
1st SL trade for system rules -26(+2 for spread on the buy side)= -24pips.


cheers scalpz
Target 2 : Stoploss in the green
  • #170
  • Apr 12, 2012 10:17pm Apr 12, 2012 10:17pm
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?
Couple of screens, crm is ibfx vs ibfx au. Demo only TG

Data very very bad lately. Have been unable to close trades for a few hours. "We are aware of a few little problems" or similar words.
Yea I said hours. TG its only demo, but trashes the testing of systems.
Maybe thats the intent.

cheers scalpz
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd m1 20120413 ibfx au.gif Size: 19 KB
Target 2 : Stoploss in the green
  • #171
  • Apr 13, 2012 7:57am Apr 13, 2012 7:57am
Quoting scalpz
Couple of screens, crm is ibfx vs ibfx au. Demo only TG

Data very very bad lately. Have been unable to close trades for a few hours. "We are aware of a few little problems" or similar words.
Yea I said hours. TG its only demo, but trashes the testing of systems.
Maybe thats the intent.

cheers scalpz
omg, thats bad! both ibfx, horrible data!
  • #172
  • Edited 8:24am Apr 13, 2012 8:21am | Edited 8:24am
81 pips down move to 13130. so a buy trade taken on current m30 candle. entered buy 13136.

anyone in on it ?


but it looks like this one will be a loser. already has gone near the low of extreme bar. so, stop moved to break even. will either get out at BE or -30 pips loss.
  • #173
  • Apr 13, 2012 8:33am Apr 13, 2012 8:33am
yesterday i lose 1 trade and then late night i won 1 trade
now stil no trade i wait for new one
if i in to trade i post it here thank you
  • #174
  • Apr 13, 2012 8:42am Apr 13, 2012 8:42am
stopped out - 30 pips.

sorry, this system aint for me. bad risk / reward ratio. in the long run such bad r:r systems dont work out.

i won two trades this week, +10 pips, then +10 pips. now a loss of -30 pips.

so overall down by - 10 pips this week. sorry, not for me. you will lose in the long run with such a bad risk / reward ratio.
  • #175
  • Apr 13, 2012 8:56am Apr 13, 2012 8:56am
Quoting whatfx
stopped out - 30 pips.

sorry, this system aint for me. bad risk / reward ratio. in the long run such bad r:r systems dont work out.

i won two trades this week, +10 pips, then +10 pips. now a loss of -30 pips.

so overall down by - 10 pips this week. sorry, not for me. you will lose in the long run with such a bad risk / reward ratio.
hi there no any trade where you see here any trade?
i dont see any trade
where you put youre order to inter the trade?
Attached Image (click to enlarge)
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  • #176
  • Apr 13, 2012 8:56am Apr 13, 2012 8:56am
Quoting whatfx
stopped out - 30 pips.

sorry, this system aint for me. bad risk / reward ratio. in the long run such bad r:r systems dont work out.

i won two trades this week, +10 pips, then +10 pips. now a loss of -30 pips.

so overall down by - 10 pips this week. sorry, not for me. you will lose in the long run with such a bad risk / reward ratio.
if you have time, show me pictures, i haven't seen a valid trade yet for today.

you need to incorporate win/loss ratio when you think about risk vs. reward.

an yes, different strokes for different folks.
i know a group of successful scalpers, their tp is 1-5 pips, their sl is 10 pips, they win 99%
  • #177
  • Apr 13, 2012 9:06am Apr 13, 2012 9:06am
hello pangufx first of all thank you for share this system
it work for me good
now waht you say about this one?
Attached Image (click to enlarge)
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  • #178
  • Apr 13, 2012 9:12am Apr 13, 2012 9:12am
Quoting panguFX
if you have time, show me pictures, i haven't seen a valid trade yet for today.

you need to incorporate win/loss ratio when you think about risk vs. reward.

an yes, different strokes for different folks.
i know a group of successful scalpers, their tp is 1-5 pips, their sl is 10 pips, they win 99%


see attached 4 hr chart. downmove from first blue line to second blue line over 81 pips. you then scroll down to m30 and enter a buy, as long as there has been a retrace from the extreme low. i entered at 13136. stopped out - 30 pips.
Attached Image (click to enlarge)
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  • #179
  • Apr 13, 2012 9:14am Apr 13, 2012 9:14am
Attached Image (click to enlarge)
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m30 chart showing long entry where two blue lines cross.
  • #180
  • Apr 13, 2012 9:15am Apr 13, 2012 9:15am
Quoting ronentn
hello pangufx first of all thank you for share this system
it work for me good
now waht you say about this one?
i'm only using the last 2 h4 bars because together they exceed 81 pips...
waiting for trigger or cancel order....
Attached Image (click to enlarge)
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