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1minute 1 trade

  • #121
  • May 8, 2012 3:54am May 8, 2012 3:54am
this is the only trade so far for me, i'm short at 3023

1:3 RR might be the rules, but it places TP just below support, perhaps 1:2.5 is more sensible

........nevertheless, so far so good +15

Quoting Jpr
Yeah that was the next one. It was a loser. See my chart below:
  • #122
  • May 8, 2012 4:02am May 8, 2012 4:02am
Quoting PeterE
this is the only trade so far for me, i'm short at 3023

1:3 RR might be the rules, but it places TP just below support, perhaps 1:2.5 is more sensible

........nevertheless, so far so good +15
Having your SL at 3045 is not where Paulus would place it though. He would place it behind the last swing high and would have been stopped out on that trade.
  • #123
  • May 8, 2012 4:04am May 8, 2012 4:04am
Hi Paulus. Which is the main system you mention you use to make regular money? Is it still TrendMagic?
  • #124
  • May 8, 2012 4:15am May 8, 2012 4:15am
gotcha

Quoting Jpr
Having your SL at 3045 is not where Paulus would place it though. He would place it behind the last swing high and would have been stopped out on that trade.
  • #125
  • May 8, 2012 4:20am May 8, 2012 4:20am
Hi Paulus,

Great strategy, looks really promising.

I have one question, how long should we wait for an entry signal before we consider not taking a trade for this particular day.

For instance, if we're waiting for a breakout on the London open in one direction, and we don't get an entry signal before 10am, I imagine it would reduce the likelihood of making a winning trade if the entry criteria are first satisfied at 10:05am.

Or is it the case, that over the 25 days you have tested the strategy, you find that the entry criteria are always satisfied within 1 hour of the London open?

Cheers,
L
  • #126
  • May 8, 2012 5:06am May 8, 2012 5:06am
SL hit but look nice
  • #127
  • May 8, 2012 5:16am May 8, 2012 5:16am
according to the set-up rules, I believe there is now a short on Aussie @ 0134 (1001GMT)

* my preferred SL @ 0159 & TP @ 0059
………..although perhaps not how Paulus positions SL?!
.
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  • #128
  • May 8, 2012 6:09am May 8, 2012 6:09am
EU

Todays result: Loss
Results sequence so far: LL

Chart already shown.

GU

Todays result: Loss
Results sequence so far: LL

Attached Image (click to enlarge)
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EJ

Todays result: Loss
Results sequence so far: LL

Attached Image (click to enlarge)
Click to Enlarge Name: ej-08may2012.gif Size: 19 KB
  • #129
  • May 8, 2012 8:38am May 8, 2012 8:38am
Hi all.

Thanks again to Paulus for another interesting system

Maybe I can shed some light on the confusion surrounding market openings.

Up until the end of March Frankfurt open was 8:00am CET (Central Europeam Time) which was 7:00am GMT. London open was 8:00am GMT. 1 hour between openings.

However then clocks changed for summertime. Here in the UK British summertime (BST) is GMT +1, but Europe advanced CET by 2 hours so now Frankfurt open is 8:00am CET or 5am GMT or 6am BST. London open is 8:am BST or 7:00am GMT or 10:00am CET. Hence the two hours between oprnings as shown on Paulus' charts.

Hope this helps

N
  • #130
  • May 8, 2012 9:15am May 8, 2012 9:15am
Quoting Nick'em
Hi all.

Thanks again to Paulus for another interesting system

Maybe I can shed some light on the confusion surrounding market openings.

Up until the end of March Frankfurt open was 8:00am CET (Central Europeam Time) which was 7:00am GMT. London open was 8:00am GMT. 1 hour between openings.

However then clocks changed for summertime. Here in the UK British summertime (BST) is GMT +1, but Europe advanced CET by 2 hours so now Frankfurt open is 8:00am CET or 5am GMT or 6am BST. London open is 8:am BST or 7:00am GMT or 10:00am CET....
I think u are not right. Germany is still only one hour in front of UK for sure.
  • #131
  • May 8, 2012 9:26am May 8, 2012 9:26am
rules is rules yes? yes!
Im living in Ireland so i start draw bias from 6-8 a.m after 8 a.m looking for enter DONE
  • #132
  • May 8, 2012 9:31am May 8, 2012 9:31am
Quoting driftwood
I think u are not right. Germany is still only one hour in front of UK for sure.

Hmm interesting....

I run MT4 on Alpari UK which for some unknown reason used to be 1 hour ahead of UK time (in time with CET). Since the clock shange at the end of March Alpari UK now rund 2 hours ahead of UK time.

I am now confused.

Anyone know where Alpari UK get its timing from???

Currenrtly 15:30 UK time

N
  • #133
  • Edited 9:44am May 8, 2012 9:41am | Edited 9:44am
I use Alpari US. Some time ago I received this:

Dear Clients,
Please be advised due to overwhelming client demand, Alpari (US) will be making changes to the MetaTrader clock settings that will give you an extra hour to trade each week.
The MetaTrader clock on your platform will be switching from Central European Time (CET, currently GMT+2) to Eastern European Time (EET, currently GMT+3). The change will take effect at 0:00 EET Monday, April 2, 2012 (21:00 GMT, 22:00 BST Sunday).


Hope it helps. UK office probably did the same.
Hej.
  • #134
  • May 8, 2012 10:09am May 8, 2012 10:09am
Quoting Stitch961
I use Alpari US. Some time ago I received this:

Dear Clients,
Please be advised due to overwhelming client demand, Alpari (US) will be making changes to the MetaTrader clock settings that will give you an extra hour to trade each week.
[font=Verdana, Geneva, sans-serif][size=-1]The MetaTrader clock on your platform will be switching from Central European Time (CET, currently GMT+2) to Eastern European Time (EET, currently GMT+3)....

Thanks Stitch all is clear now.

N
  • #135
  • May 8, 2012 11:13am May 8, 2012 11:13am
I guess that it is not picky on 1 Hr before open or 2 Hr, I find that most of time, Market start moving 1.5 hr before London open.

I might be wrong, I guess that his idea is that

1). Trying to detect short term trend of London market before it move, That's why he uses 1 min chart to detect trend.

2). Stoploss setting and profit taking setting are very tricky, I am very new, However, I still feel that 1:3 is to high, It should be adjust base on Dairy range, Recently day, It shrinks from 120 pips down to less than 90 pips.

As what he say, He uses this system for only 5 weeks, it still need some tuning, Anyway, it is a very good idea, good job
  • #136
  • May 8, 2012 12:47pm May 8, 2012 12:47pm
Quoting lewbar
Hi Paulus,

Great strategy, looks really promising.

I have one question, how long should we wait for an entry signal before we consider not taking a trade for this particular day.


Cheers,
L
No time limit just wait for the signal

P
  • #137
  • May 8, 2012 12:55pm May 8, 2012 12:55pm
Hi,
I'm planning to backtest this strategy and will need confirmation that we always keep 2 hours difference between EU Open and London Open, during Standard and Daylight savings time.
r u ready?
  • #138
  • May 8, 2012 1:00pm May 8, 2012 1:00pm
Hi I do have fun

More over Im relaxed

14 years trading and think Ive prob seen most of what can happen...

I dont get despondent about losers but many do ..get 2 -3 -4 losers on the trot and traders will close down and start looking again..If you have your risk reward in place this should not effect you

Today was a loser but Im not concerned .. as you can see though the actual system is trying to pick rallies in a down trend


-------------------------------------------------------------

Equity £8,740
5% = £437

Result loss

Equity £8,303

P
Attached Image (click to enlarge)
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  • #139
  • May 8, 2012 5:40pm May 8, 2012 5:40pm
Quoting Paulus
Hi I do have fun

More over Im relaxed

14 years trading and think Ive prob seen most of what can happen...

I dont get despondent about losers but many do ..get 2 -3 -4 losers on the trot and traders will close down and start looking again..If you have your risk reward in place this should not effect you

Today was a loser but Im not concerned .. as you can see though the actual system is trying to pick rallies in a down trend...

P
Well said Paulus. You don't happen to like 'Trading in the Zone' by Mark Douglas do you?
  • #140
  • May 8, 2012 5:48pm May 8, 2012 5:48pm
this system may have an edge, but i need a large sample size before i can get enthusiastic about it.........as i'm sure is the same for you Paulus

nevertheless,
this week i've found 4 set-ups (x2 euro + x2 aussie) Mon & Tues session:
15% (+42), 15% (+60), -5% (-25), and 1 pending @ +29

..........each using bigger SL (of 3 winners, max drawdown is 18 pips)

in my view small stops is asking for trouble

be good to see a comparison b/w larger SL/TP (pips) and smaller SL/TP with this system
.
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