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5min EUR/USD mini trendline breaks

  • #261
  • Apr 23, 2012 6:52am Apr 23, 2012 6:52am
Hit SL -20.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5 9.png Size: 38 KB
  • #262
  • Apr 23, 2012 7:05am Apr 23, 2012 7:05am
Quoting reuptake
It depends not only in single trade but also in multiple trades. I'm trading this system too short and in too messy way to say something conclusive about Win/Loss or R:R. I'm rather trying to cut losses shorth, so I'm experiencing rather low win ratio, but wins are larger than losses. I prefer to close the trade if it's not going into my desired direction.
Good thinking. I only started trading this today, and I changed rules slightly, just to see how it goes, to see am I "feeling" it. My R:R is 1:1, and I trade 10 different pairs. We'll see results soon.
  • #263
  • Apr 23, 2012 7:15am Apr 23, 2012 7:15am
The system is simple and interesting. However since it is based on 5 min charts you will get burned out often.

Here are my tips:

1. Make sure RR is better than 1:1
2. Don't trade during Asian market unless there is good trend in place
3. Best time is during London session when market makes most of it daily move
4. Take the concept and apply to higher timeframes, 1hr is much better imo
5. Stick on 1 pair, EURUSD preferably since it usually have tightest spread
6. Take higher timeframe into consideration and not just rely on MA crossovers for trend determination

Anyone disagrees ??
Vouch me and I vouch you back !
  • #264
  • Apr 23, 2012 7:17am Apr 23, 2012 7:17am
Quoting The_One
The system is simple and interesting. However since it is based on 5 min charts you will get burned out often.

Here are my tips:

1. Make sure RR is better than 1:1
2. Don't trade during Asian market unless there is good trend in place
3. Best time is during London session when market makes most of it daily move
4. Take the concept and apply to higher timeframes, 1hr is much better imo
5. Stick on 1 pair, EURUSD preferably since it usually have tightest spread
6. Take higher timeframe into consideration and not just rely on MA crossovers...
Agreed on all 6.
  • #265
  • Apr 23, 2012 7:28am Apr 23, 2012 7:28am
Quoting The_One
The system is simple and interesting. However since it is based on 5 min charts you will get burned out often.

Here are my tips:

1. Make sure RR is better than 1:1
2. Don't trade during Asian market unless there is good trend in place
3. Best time is during London session when market makes most of it daily move
4. Take the concept and apply to higher timeframes, 1hr is much better imo
5. Stick on 1 pair, EURUSD preferably since it usually have tightest spread
6. Take higher timeframe into consideration and not just rely on MA crossovers...
Late Asian session is recently very nice to trade. Good, uniform trends.
  • #266
  • Apr 23, 2012 8:05am Apr 23, 2012 8:05am
Quoting nikz
Hit SL -20.

Don't feel bad, I got burned too.
  • #267
  • Apr 23, 2012 9:57am Apr 23, 2012 9:57am
Here are results of my first day trading this.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
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File Type: rar DetailedStatement.rar   2 KB | 336 downloads
  • #268
  • Edited 1:33am Apr 24, 2012 1:07am | Edited 1:33am
Morning folks. In long on this trendline break. I have another eur/usd screen up with heiken ashi candles to experiment with a trade management idea i have.

Attached Image (click to enlarge)
Click to Enlarge Name: Long.png Size: 92 KB


Just realised that my ma's were crossed down and so i should not have entered this trade! sorry about that. i will try and limit damage and hope for good fortune now.
#out. closed half at start of wrong trade and closed the 2nd half for -10. should have paid attention the ma's!!
  • #269
  • Apr 24, 2012 1:50am Apr 24, 2012 1:50am
Quoting iak
#out. closed half at start of wrong trade and closed the 2nd half for -10. should have paid attention the ma's!!
Good you had the guts to do so. On the other hand, have you thought about another "trend indicator"? Other than MA cross? It's sooo laging.
  • #270
  • Apr 24, 2012 1:55am Apr 24, 2012 1:55am
Quoting reuptake
Good you had the guts to do so. On the other hand, have you thought about another "trend indicator"? Other than MA cross? It's sooo laging.
Well, always thinking about improvements mate. any suggestions are welcome.
  • #271
  • Edited 2:50am Apr 24, 2012 2:36am | Edited 2:50am
short order pending just below 1hr rising support.

Attached Image



#order cancelled as new set up forming.
  • #272
  • Apr 24, 2012 3:13am Apr 24, 2012 3:13am
Quoting iak
short order pending just below 1hr rising support.

Attachment


#order cancelled as new set up forming.
oh well
Attached Image
  • #273
  • Apr 24, 2012 3:16am Apr 24, 2012 3:16am
short pending

Attached Image (click to enlarge)
Click to Enlarge Name: new_short.png Size: 41 KB


#just triggered

##I am going to manage this trade using heiken ashi. when heiken ashi candle changes colour i will exit half my position. if it then changes back i will re-enter half a position. just an idea i got at mo
  • #274
  • Apr 24, 2012 3:20am Apr 24, 2012 3:20am
Quoting iak
short pending

Attachment

#just triggered
It was clearly about to happen (breakout to the bottom). But I'm not trading today, made some bad trades yesterday, waiting for recovery.
  • #275
  • Apr 24, 2012 3:23am Apr 24, 2012 3:23am
Quoting reuptake
It was clearly about to happen (breakout to the bottom). But I'm not trading today, made some bad trades yesterday, waiting for recovery.
Thats good thinking mate. This is a frustrating stressfull business at times. good to have time off.
  • #276
  • Edited 3:46am Apr 24, 2012 3:35am | Edited 3:46am
Heiken ashi colour change so have closed half my order

#heikin ashi change. re-entered half order
  • #277
  • Apr 24, 2012 3:45am Apr 24, 2012 3:45am
Quoting iak
Heiken ashi colour change so have closed half my order
Good idea. I think this strategy makes it quite easy to reenter when trend returns after retrace, so it's quite safe to jump out of the train when it stops, you can still catch it as it resumes journey

Where is your SL now?
  • #278
  • Apr 24, 2012 3:48am Apr 24, 2012 3:48am
Quoting reuptake
Good idea. I think this strategy makes it quite easy to reenter when trend returns after retrace, so it's quite safe to jump out of the train when it stops, you can still catch it as it resumes journey

Where is your SL now?
@ 3175 but with the heiken ashi in and out it will prob vanish on next order. experimenting a bit today
  • #279
  • Edited 4:39am Apr 24, 2012 4:22am | Edited 4:39am
still in the trade. Heikin ashi made me close half my order earlier and so this move against me has been fairly painless so far with the potential to re-enter half at a better price

#ok, stopped out. At least it was half what it would have been though.
  • #280
  • Edited 6:13am Apr 24, 2012 5:30am | Edited 6:13am
Sold EJ following M5 signal
#half closed +19
#second half closed @ +1
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