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Easy entry system: coloured candles

  • #101
  • May 9, 2012 7:27am May 9, 2012 7:27am
@Driftwood

I'm not being terribly scientific at this stage about my TP. I realise this is a bad habit to get into, so as of next week I will be working my MM out correctly.

I have been careful to trade into strong trends on both charts, and I've simply set TP @ 100 (or 50) by gauging the strength of the move on the bars.

I'm trying to take the emotion out of it and be as mechanical as possible. I'm trying to 'trust the system'....

I will be increasing my risk next week, and hence be more careful with my TP!

I hope that makes sense?!

Regards
Ath
  • #102
  • May 9, 2012 7:53am May 9, 2012 7:53am
Quoting Athravan
@Driftwood

I'm not being terribly scientific at this stage about my TP. I realise this is a bad habit to get into, so as of next week I will be working my MM out correctly.

I have been careful to trade into strong trends on both charts, and I've simply set TP @ 100 (or 50) by gauging the strength of the move on the bars.

I'm trying to take the emotion out of it and be as mechanical as possible. I'm trying to 'trust the system'....

I will be increasing my risk next week, and hence be more careful with my TP!

I hope that makes sense?!

Regards
Ath...
Yeah thx. I to like little more MM risk for smaller tp (25) to be in and out and happy quick as possible
  • #103
  • May 9, 2012 8:22am May 9, 2012 8:22am
Quoting Roofx
This system will not work on the long term, guys. I'm just letting you know. It's similar to my old PArbolic SAR and also the BBStop system. Like most indicator systems, this will look great in trends and then wipe you out in the ranges. Forget it and move on. Trust me.
Roofx,

I am curious to know, did you found any system that works for a long term? and what is it BBStop system ?
  • #104
  • May 9, 2012 11:23am May 9, 2012 11:23am
Quoting Athravan
I realise I'm jumping around the pairs a fair bit looking for opportunities. I am, however, using my discretion on the 15m chart, coupled with looking for strong trends on the 4hr chart.

Question for Kraven:
Do you think this system has any merit moving up the timeframes? Do you think it would work using a Daily/1hr frame rather than 4hr/15m?

I'm new to indicators and wondered if these would need changing to accomodate?

Regards
Ath
no reason why it wouldn't work on higher TF's


I find 15m give more reliable entries plus more entries in total. I original tried this on 5mins without the bigger TF for trend but I was in and out all of the time.

I have had outstanding results the weeks i've been testing and improving this. This may get choppy in flat situations and we'll sufferer a number of small losses (normaly in early Asian time for me), but if do as Athraven is doing and try to see good trends in the 4hr then this will help also going for a good R:R and early BE.

I'm still in the other trade at one point it was 1:11 R:R. (if i was around I'd have taken this) we've had 1 loss, and 2 positive re-entries since.
Attached Image (click to enlarge)
Click to Enlarge Name: colour candles 4.gif Size: 35 KB
  • #105
  • May 9, 2012 11:33am May 9, 2012 11:33am
The reason I was asking about the Daily/1hr timeframe was hopefully to see if we could make the ranging sessions easier to manage.

I am new to this, so I may be talking rubbish, so please let me know if I am...

It seems to me that this system is good for strong trending movements, and we will likely suffer in a ranging market. I think there are enough currency pairs to look at - I can't believe they would all range at the same time? Does this happen?

If it is ranging, should we move up the timeframes to look for longer terms pips before moving down when it trends again?

Regards
Ath
  • #106
  • May 9, 2012 11:34am May 9, 2012 11:34am
Quoting kraven
no reason why it wouldn't work on higher TF's


I find 15m give more reliable entries plus more entries in total. I original tried this on 5mins without the bigger TF for trend but I was in and out all of the time.

I have had outstanding results the weeks i've been testing and improving this. This may get choppy in flat situations and we'll sufferer a number of small losses (normaly in early Asian time for me), but if do as Athraven is doing and try to see good trends in the 4hr then this will help also going for a good R:R and early BE.

I'm...
Kraven,

is it possible to have an email notification when all conditions are meet to have a probably trade? what do you think it needs to be done?

I am missing almost all trades, currently I am 3 winners at EURUSD and 1 loser at GBPUSD, the loser at GBPUSD was my fault due to the tigh SL

Thank you
  • #107
  • May 9, 2012 12:13pm May 9, 2012 12:13pm
sorry migmac i have zero programming skills. I am missing a lot of the trades too, most of mine have been on paper while monitoring.

Athravan you can't avoid ranging markets, it can range on any TF. pretty much all strategies will get caught in ranges (apart from scalping) It's part of trading. We'd all be rich if we new when it was about to range..'it's trending today i'll enter, but tommorrow it'll range so i'll stay in bed'.
You need to realise as soon as you hit the order button you have no control or forwards knowledge where the price will go. We can try to use signals and signs to give us an 'edge' or 'heads up' like trending markets, news, candle formations, S&R. but if these were 100% reliable we would have no losses.
What you need to think about is not the loses, but the win ratio and the reward ratio. If you have 10 bets per week and you win 4, and you R:R is 1:2 you'll still be on top. If it's 1:4 and we win 2, but move to BE after 1:1 is hit and as a result lose 4...then if your sl is 10, you lose 40pips..but your 2 wins get you 80pips, the rest BE.

from the short time i've studied this system it has produced 80%+ positive results. and an average R:R of 1:3..if it stopped like this then i'm charging all you guy's $5k for it lol. All the banks etc will install it. But it will not stay this way, ranging is due and so are loses. you can stop with it for a while (i will) or move to another system (like so many do, and keep moving, not getting anywhere). Sorry for lecture.
  • #108
  • May 9, 2012 7:00pm May 9, 2012 7:00pm
see we had another entry 19:30 gmt sl15/25 max so far.
  • #109
  • May 10, 2012 3:16am May 10, 2012 3:16am
Only had an hour to look for opportunities last night and found these:

EURUSD - Sell - +150 pips
CHFJPY - Sell - +101 pips (my entry pipped up 1 after setting TP at 100!)
EURGBP - Sell - +91 pips (jumped out of this one early as I got a bit twitchy)

Running total so far:
14 Trades - 13 Wins, 1 Loss
+1257 pips

Regards
Ath
  • #110
  • May 10, 2012 4:02am May 10, 2012 4:02am
Quoting Athravan
Only had an hour to look for opportunities last night and found these:

EURUSD - Sell - +150 pips
CHFJPY - Sell - +101 pips (my entry pipped up 1 after setting TP at 100!)
EURGBP - Sell - +91 pips (jumped out of this one early as I got a bit twitchy)

Running total so far:
14 Trades - 13 Wins, 1 Loss
+1257 pips

Regards
Ath
great , well done
do you put your trades on before going to bed ? if so do you live usa .
sounds like set and forget working for you
  • #111
  • May 10, 2012 5:24am May 10, 2012 5:24am
on EU through Asian session we had one small false entry for about 6 pips and we have an entry now. there is a lot of news today which is good for movement, however for me this is the time for caution as market has moved sharply lower over the last few days so it's due a correction or consolidation, again we don't know this for sure.
  • #112
  • May 10, 2012 6:36am May 10, 2012 6:36am
@robuk

I'm in the UK and work fulltime 8.30-5.30. I occasionally get to look at trades before 8am (end of Tokyo session) but usually look for a couple of hours in the evening around 8pm-10pm (end of NY, beginning of Sydney).

Its early days in my trading career - still on demo account - and I'm trying to establish an emotionless approach. I like to pick a trade, set TP and then walk away. Some have closed while I watch, others I have left to run overnight (like the last CHFJPY one).

Regards
Ath
  • #113
  • May 10, 2012 7:21am May 10, 2012 7:21am
Quoting migmac
Kraven,

is it possible to have an email notification when all conditions are meet to have a probably trade? what do you think it needs to be done?
If someone will specify EXACTLY what conditions need to be met , I will have a go at programming it for you.
I'm finding this quite an interesting thread, however I too have reservations about ranging periods, I guess time will tell!
Steve.
  • #114
  • May 10, 2012 7:42am May 10, 2012 7:42am
Quoting Athravan
@robuk

I'm in the UK and work fulltime 8.30-5.30. I occasionally get to look at trades before 8am (end of Tokyo session) but usually look for a couple of hours in the evening around 8pm-10pm (end of NY, beginning of Sydney).

Its early days in my trading career - still on demo account - and I'm trying to establish an emotionless approach. I like to pick a trade, set TP and then walk away. Some have closed while I watch, others I have left to run overnight (like the last CHFJPY one).

Regards
Ath
well, it seems to be working out very well for you so far , i hope it continues in the same vein .
i am from uk but now live in thailand , so to trade your times it would be 2am to 4 am , but if i could get results half as good as yours it would be worth it !!
have you tried the daily/i hour idea ?
good luck
ROB
  • #115
  • May 10, 2012 7:57am May 10, 2012 7:57am
@robuk

I hope it continues this way too!! I will continue to demo, as I am aware that there is a lot of movement at the moment.

Over the weekend I will be looking at historical Daily/1hr timeframes to see if this still works as well, and will let the forum know on Mon/Tue next week.

@everyone lurking

Can someone advise me please on taking screenshots so I can show actual results to people?

Regards
Ath
  • #116
  • May 10, 2012 8:37am May 10, 2012 8:37am
Quoting Arnold49
If someone will specify EXACTLY what conditions need to be met , I will have a go at programming it for you.
I'm finding this quite an interesting thread, however I too have reservations about ranging periods, I guess time will tell!
Steve.
Kraven,

Steve is going to help us! Where do you think an email alert will be great to have? what conditions do you think are the best to have a possible trade soon and that will give us some time to analyse the trade before entering? maybe when ultra-signal and cci arrow are on the same color?
  • #117
  • May 10, 2012 8:55am May 10, 2012 8:55am
Quoting Athravan
@robuk

I hope it continues this way too!! I will continue to demo, as I am aware that there is a lot of movement at the moment.

Over the weekend I will be looking at historical Daily/1hr timeframes to see if this still works as well, and will let the forum know on Mon/Tue next week.

@everyone lurking

Can someone advise me please on taking screenshots so I can show actual results to people?

Regards
Ath
hello Ath, to screenshot right click on chart and save as picture. To add to post use manage attachment.
  • #118
  • May 10, 2012 10:39am May 10, 2012 10:39am
Quoting migmac
Kraven,

Steve is going to help us! Where do you think an email alert will be great to have? what conditions do you think are the best to have a possible trade soon and that will give us some time to analyse the trade before entering? maybe when ultra-signal and cci arrow are on the same color?

I've just noticed "FXultratrend.edu" has a built in alert, seems to do the job?
  • #119
  • May 10, 2012 12:02pm May 10, 2012 12:02pm
Quoting Athravan
@robuk

I hope it continues this way too!! I will continue to demo, as I am aware that there is a lot of movement at the moment.

Over the weekend I will be looking at historical Daily/1hr timeframes to see if this still works as well, and will let the forum know on Mon/Tue next week.

@everyone lurking

Can someone advise me please on taking screenshots so I can show actual results to people?

Regards
Ath
i think you can find on x-man sss3 . type in "screenshot" on search facility. hope this helps.
Rob
  • #120
  • May 10, 2012 12:42pm May 10, 2012 12:42pm
well the conditions i look for:

4hr red or green everything (ultra-signal dot, cci arrow, ultratrend candle)this to me means trend has been established for a short time.

15min (ultra-signal dot...plus either one of the arrow or candle, i prefer both but using just one has let me get in earlier)

as Steve said ultrratrend has an alert..

'....this is the time for caution as market has moved sharply lower over the last few days so it's due a correction or consolidation, again we don't know this for sure.'
this appears to be true for today. we may get a move up then a red continuation, or we may have to wait a day or so for a green trend to begin..hopefully it'll not be flat for to long.
If you look at your 4hr chart and skim through you nsee we have had some great runs lately, medium trends which have lasted.
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