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  • #181
  • Apr 13, 2012 9:20am Apr 13, 2012 9:20am
Quoting whatfx
Attachment





m30 chart showing long entry where two blue lines cross.
thanks for posting, its difficult to analyze, i'm sure the charts look diff. then when you entered. best of luck to you.
  • #182
  • Apr 13, 2012 9:22am Apr 13, 2012 9:22am
Quoting panguFX
i'm only using the last 2 h4 bars because together they exceed 81 pips...
waiting for trigger or cancel order....
order cancelled.
waiting for new valid m30 TE bar.....
  • #183
  • Apr 13, 2012 9:33am Apr 13, 2012 9:33am
Quoting panguFX
order cancelled.
waiting for new valid m30 TE bar.....
hi you dont wait for 30 m candle close?
becuse i wait for close bar green then i put order 2 pips over the bar then my trade start
  • #184
  • Apr 13, 2012 10:19am Apr 13, 2012 10:19am
Quoting ronentn
hi you dont wait for 30 m candle close?
becuse i wait for close bar green then i put order 2 pips over the bar then my trade start
i usually don't wait for the candle to close, but the system should still work if you wait until it closes.
  • #185
  • Apr 13, 2012 4:37pm Apr 13, 2012 4:37pm
Quoting panguFX
thanks for posting, its difficult to analyze, i'm sure the charts look diff. then when you entered. best of luck to you.
Sure the charts were different live. But it was a valid setup as you can see on 4hr move over 81 pips. Did you not take this trade if not why not ?
  • #186
  • Apr 13, 2012 5:45pm Apr 13, 2012 5:45pm
Quoting whatfx
Attachment





m30 chart showing long entry where two blue lines cross.
Hi whatfx, your M30 chart shows the wrong end of the bar for the long trade. Long trades are meant to be placed with a gap ABOVE the extended M30 bar, not below it.
This means you only get triggered if the price retraces.

Looks like you are trying to check the system by reading the action on the screen.
I would suggest to actually trade them on a demo account, then you will get the feel of why each part of the rules are there & how it all fits together. Sorry if you are already doing this.

Like your chart profile name by the way.

PS: found an almost stand-alone fib tool. Doing some mods & corrections to get it to display some bits. Will post later if ok Pangu ?
At the moment it dont handle the TF changes.

cheers scalpz
Target 2 : Stoploss in the green
  • #187
  • Apr 13, 2012 7:30pm Apr 13, 2012 7:30pm
Quoting scalpz
Hi whatfx, your M30 chart shows the wrong end of the bar for the long trade. Long trades are meant to be placed with a gap ABOVE the extended M30 bar, not below it.
This means you only get triggered if the price retraces.

Looks like you are trying to check the system by reading the action on the screen.
I would suggest to actually trade them on a demo account, then you will get the feel of why each part of the rules are there & how it all fits together. Sorry if you are already doing this.

Like your chart profile name by the way.

PS:...
. No pangu doesn't wait for a gap above he enters trade immediately the 81 pips is passed on m30 which is what I did
  • #188
  • Edited 9:07pm Apr 13, 2012 8:38pm | Edited 9:07pm
Quoting whatfx
. No pangu doesn't wait for a gap above he enters trade immediately the 81 pips is passed on m30 which is what I did
well actually i was watching and didn't see the trade you took, also i do wait for a gap. its called a buystop/sellstop pending order 2 pips above/below the high/low of the trend extreme bar.
  • #189
  • Apr 13, 2012 8:43pm Apr 13, 2012 8:43pm
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.
and if you win the next one you are breakeven. what's the chances of you winning the next one? should be greater than 80 or 90%. if you have a tp of 10 and a sl of 30, what's more likely to hit first?

then add the edge of catching the retrace off a >81 pip move, and surely we can obtain profitability at anything over 80% winrate.
  • #190
  • Apr 13, 2012 8:46pm Apr 13, 2012 8:46pm
Quoting scalpz
Hi whatfx, your M30 chart shows the wrong end of the bar for the long trade. Long trades are meant to be placed with a gap ABOVE the extended M30 bar, not below it.
This means you only get triggered if the price retraces.

Looks like you are trying to check the system by reading the action on the screen.
I would suggest to actually trade them on a demo account, then you will get the feel of why each part of the rules are there & how it all fits together. Sorry if you are already doing this.

Like your chart profile name by the way.

PS:...
i luv new tools and indis, post away.....
  • #191
  • Apr 13, 2012 8:57pm Apr 13, 2012 8:57pm
Quoting whatfx
Attachment





m30 chart showing long entry where two blue lines cross.
are you setting pending orders at the top or bottom of the m30 extreme bar? im confused by your entry.
  • #192
  • Apr 13, 2012 9:16pm Apr 13, 2012 9:16pm
if price drops below the that m30 trend ext. bar, then this pending buy order will need to be canceled. if price starts retracing above that m30 trend ext. bar, then I'm long.

there is a general rule that i'm breaking...
"never tell your friends about your trade"


Attached Image (click to enlarge)
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  • #193
  • Apr 14, 2012 3:29am Apr 14, 2012 3:29am
Great System .. i try this week..

I suggest a jjn-fibo indicator.. its a auto-fibonacci.. setting a day 1440

Max
Attached Image
Attached File(s)
File Type: ex4 JJN-Fibo.ex4   10 KB | 338 downloads
  • #194
  • Apr 14, 2012 4:14am Apr 14, 2012 4:14am
Quoting whatfx
. No pangu doesn't wait for a gap above he enters trade immediately the 81 pips is passed on m30 which is what I did
Sorry whatfx, but I think you are missing the main error.

" Long trades are meant to be placed with a gap ABOVE the extended M30 bar, not below it."

Buy-stops are placed above the extended bar, not below the extended bar.

If you check previous trades posted, they show pending buy-stop trades above extended bars. They also show pending sell-stop trades below extended bars.

cheers scalpz
Target 2 : Stoploss in the green
  • #195
  • Apr 14, 2012 4:52am Apr 14, 2012 4:52am
Quoting panguFX
well actually i was watching and didn't see the trade you took, also i do wait for a gap. its called a buystop/sellstop pending order 2 pips above/below the high/low of the trend extreme bar.

please see your post 184 above. if you do not wait for the candle to close, then obviously you do not wait for the gap upto place pending order 2 pips above.

i also refer to some of your previous trades where you did not wait for the m30 candle to close to enter on gap up or down. you entered as price passed 81 pips and while that m30 candle was still developing.

although i did question you at the time about this, you said that is what you do. so i was only following your example.

iam aware about gap up / down, for this you do need to wait for the m30 candle to close first.

so please clarify what the actual rules are that you follow. .....


i see that if you wait for m30 candle to close, thenyou rarely get about 1 - 2 trades a week.
  • #196
  • Apr 14, 2012 6:00am Apr 14, 2012 6:00am
Quoting whatfx
please see your post 184 above. if you do not wait for the candle to close, then obviously you do not wait for the gap upto place pending order 2 pips above.

i also refer to some of your previous trades where you did not wait for the m30 candle to close to enter on gap up or down. you entered as price passed 81 pips and while that m30 candle was still developing.

although i did question you at the time about this, you said that is what you do. so i was only following your example.

iam aware about gap up / down, for this you do need to...
"if you do not wait for the candle to close, then obviously you do not wait for the gap upto place pending order 2 pips above."

i don't wait for the candle to close, and I do wait for the gap up/down to enter through a pending order.

sorry about the confusion.
  • #197
  • Apr 14, 2012 6:02am Apr 14, 2012 6:02am
Quoting whatfx
please see your post 184 above. if you do not wait for the candle to close, then obviously you do not wait for the gap upto place pending order 2 pips above.

i also refer to some of your previous trades where you did not wait for the m30 candle to close to enter on gap up or down. you entered as price passed 81 pips and while that m30 candle was still developing.

although i did question you at the time about this, you said that is what you do. so i was only following your example.

iam aware about gap up / down, for this you do need to...
"i also refer to some of your previous trades where you did not wait for the m30 candle to close to enter on gap up or down. you entered as price passed 81 pips and while that m30 candle was still developing."

if we entered as soon as 81 pips is surpassed, we would lose a lot of trades. price must start retracing against the 81 pip move, and trigger my pending +2 pips above the m30 bar (closed or unclosed) for a long trade.
  • #198
  • Apr 15, 2012 5:07pm Apr 15, 2012 5:07pm
Quoting panguFX
if price drops below the that m30 trend ext. bar, then this pending buy order will need to be canceled. if price starts retracing above that m30 trend ext. bar, then I'm long.

there is a general rule that i'm breaking...
"never tell your friends about your trade"


order cancelled due to trend ext. bar being exceeded.
waiting.....
  • #199
  • Apr 15, 2012 5:49pm Apr 15, 2012 5:49pm
Quoting panguFX
order cancelled due to trend ext. bar being exceeded.
waiting.....
I would imagine you should have a new trade on. Shouldnt you have amended your pending buy stop order to a couple of pips above this current m30 candle (the lowest one) ??
  • #200
  • Edited 7:03pm Apr 15, 2012 6:06pm | Edited 7:03pm
Quoting dean
I would imagine you should have a new trade on. Shouldnt you have amended your pending buy stop order to a couple of pips above this current m30 candle (the lowest one) ??
Placed my pending buystop after the first bar of the week. Only cause it fitted with the rules. Wouldn't normally trade straight off.
Top of extending bar +2 for gap +2.2 for spread = 1.30734 not hit yet on the next M30 bar, has high of 1.30731.

Waiting waiting.

SL set 10 below extending bar, makes bar of 13.4 + 10 +2(top gap) +2.2(spread) = 27.6 SL
Mmmmm that adds up, will have to rethink this 2.2 for spread on the buy side.

cheers scalpz

edit: ok now its triggered on the 3rd m30 bar.
Problem is that we don't know were the price has been over the weekend normally.
May of had a 38.2 retrace and cleared the >81 "stored up energy".

edit2: SL hit on 4th M30 bar of the week.
Oh - thats another extended bar
Target 2 : Stoploss in the green
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