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Attachments: Buy sell line trading
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Buy sell line trading

  • #1,301
  • May 6, 2012 6:02am May 6, 2012 6:02am
Quoting TheDivine
This way of trading have potential that can be exploited, also in strong trend look for inside bars and trade them on breakout in trend direction. I see on the other chart's where we have bearish engulf and also and inside bar giving strong signal.
Sure Divine... we need to look at the trend too and a pull back to a key level for the best set-ups..

I like to post these charts to show how just the price action alone is fairly successful...

But I will disagree with saying that signal was not proper as it engulf the prior 3 or 4 bars... unfortunately it spiked back strongly... looking at the chart you can see price was struggling to break that strong swing low... when it did break though it gave a really nice r/r trade
tradewith60
  • #1,302
  • Edited 1:45pm May 6, 2012 1:22pm | Edited 1:45pm
Quoting lucariga
How could i know to be in a sideways market untill 03/16/2012?
See attachment...
Price crossed above the 50SMA after the downtrend was your clue to wait for the 50SMA and price action to show direction.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,303
  • May 6, 2012 1:52pm May 6, 2012 1:52pm
Quoting lucariga
2012 GBP/JPY better results but still not in profit....

4 win and 4 lost
You marked a win as a loss on Trade#3, so it is really 5 wins 3 losses. You also went short above the 50SMA on your last trade#8 which would change it to 5 wins 2 losses.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,304
  • May 6, 2012 2:01pm May 6, 2012 2:01pm
Quoting lucariga
I've done all the backtest you suggested

2012 AUD/USD

Better results...
6 wins and 5 lost

Recap:
EUR/USD 1 W and 3 L (not considering the sideways market)
GBP/JPY 4 W and 4 L
AUD/USD 6 W and 5 L

Total: 11 W and 12 L
What can I do to have better results?


Off topic: my space for attachments is over. What can i do?
Trade #5 is not a) engulfing, but an inside bar and b) it doesn't look like the next candle broke the high. You also missed an opportunity between trade #8 and #9. That would change the stats to 7 Wins 4 losses.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,305
  • May 7, 2012 12:36pm May 7, 2012 12:36pm
Quoting LasVahGoose
You marked a win as a loss on Trade#3, so it is really 5 wins 3 losses. You also went short above the 50SMA on your last trade#8 which would change it to 5 wins 2 losses.
Unfortunately trade #3 is a loss because of the 4th candle (blue candle) after the one I've marked with red line. In fact the low of that candle is 4 pips below the low of the trigger candle. According to the rules the stop has to be placed 1 pip + spread below the low of the trigger candle.

Trade #8 is also a loss because of the trigger candle closes well below the 50SMA so, as to the rules I've to go short....

Cheers
  • #1,306
  • May 7, 2012 12:41pm May 7, 2012 12:41pm
Quoting LasVahGoose
Trade #5 is not a) engulfing, but an inside bar and b) it doesn't look like the next candle broke the high. You also missed an opportunity between trade #8 and #9. That would change the stats to 7 Wins 4 losses.
Trade #5: you are right. My miss
Trade #8 and #9: You are right. There is an engulfing bearish I've missed.

So yes, on AUD/USD 7 Wins and 4 losses

Total of the year on a daily chart (for engulfing only): 12W and 11L
  • #1,307
  • May 10, 2012 11:39am May 10, 2012 11:39am
I learned an interesting lesson.

Yesterday morning I put on a trade (using this method) and then left for work.
I got so busy with my work, that I did not remember about my trade until about 8 hours later.

I checked in and I had made a profit of 44 pips.

If I had more time to manage the trade, I probably would have closed it out early for 25 or 30 pips, but because I left things alone, it went to profit of 44 pips (1:1 RR)

Hope others are benefiting from this system.

PGPB
  • #1,308
  • May 10, 2012 11:41am May 10, 2012 11:41am
just a few h1's from this week
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-05-10 at 15.23.59.jpg Size: 77 KB
tradewith60
  • #1,309
  • May 11, 2012 11:45am May 11, 2012 11:45am
Try this indicator for spotting swing highs and lows in multiple time frames.
Attached File(s)
File Type: ex4 #MTF_Fractal.ex4   3 KB | 502 downloads
  • #1,310
  • May 12, 2012 8:33am May 12, 2012 8:33am
AU H1 this week....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen shot 2012-05-12 at 14.23.56.jpg Size: 83 KB
Click to Enlarge Name: Screen shot 2012-05-12 at 14.23.44.jpg Size: 85 KB
Click to Enlarge Name: ex1.png Size: 94 KB
tradewith60
  • #1,311
  • May 12, 2012 9:50am May 12, 2012 9:50am
Quoting 60minuteman
AU H1 this week....
Hi 60minuteman,
It seems that you are now focusing on H1 rather than H4?
Accept as it is being!
  • #1,312
  • May 12, 2012 10:00am May 12, 2012 10:00am
Quoting Vnfx
Hi 60minuteman,
It seems that you are now focusing on H1 rather than H4?
yes I am... mainly because we have been ranging so much and the trends have been very short lived, maybe 2 or 3 h4's and theyre done and reverse, so I have gone to H1 and it's going really well...

I think when we select a trend following strategy we have to be alert to the market conditions and adjust accordingly... would i go lower than H1, no... but i think you could make m15 work if you were very good at using strong s/r lines to back up your entries... there's always a way!

Can't emphasize enough though at how much more successful this is if you get tuned into the pairs that are trending and you look for those nice sharp retraces... can make a massive difference to your win loss
tradewith60
  • #1,313
  • May 14, 2012 4:10am May 14, 2012 4:10am
Hi all,

Has anyone spent money and bought the rules for this strategy?
  • #1,314
  • Edited 8:35am May 14, 2012 7:43am | Edited 8:35am
Quoting xxxxLearner
Hi all,

Has anyone spent money and bought the rules for this strategy?
Hi xxxLearner,
This is a free strategy shared by 60minuteman. We must say thanks for his kindness!

Hereunder is a short on AU H1 today and become a free trade now.
Attached Image (click to enlarge)
Click to Enlarge Name: auh1.gif Size: 23 KB
Accept as it is being!
  • #1,315
  • May 14, 2012 7:56am May 14, 2012 7:56am
Quoting Vnfx
Hi xxxLearner,
This is a free strategy shared by 60minuteman. We must say for his kindness!

Hereunder is a short on AU H1 today and become a free trade now.
nice, yeah trending movements are strong today, winners on H1 all over the place...
tradewith60
  • #1,316
  • May 14, 2012 7:59am May 14, 2012 7:59am
Two nice opportunities to get into the euro slide on EJ H1
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-05-14 at 13.58.15.png Size: 50 KB
tradewith60
  • #1,317
  • May 14, 2012 8:01am May 14, 2012 8:01am
Two shots a gchf too.... easy set ups all over..
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-05-14 at 14.00.44.png Size: 60 KB
tradewith60
  • #1,318
  • May 14, 2012 8:18am May 14, 2012 8:18am
Quoting 60minuteman
AU H1 this week....
thanks for sharing 60min.
what are the rest of MAs you use in addition to 50?
thanks for your time.
Trade As A Sniper
  • #1,319
  • May 14, 2012 8:55am May 14, 2012 8:55am
Quoting pama.fx
thanks for sharing 60min.
what are the rest of MAs you use in addition to 50?
thanks for your time.
theyre from a counter-trend strategy i use, nothing to do with buy/sell engulfing
tradewith60
  • #1,320
  • May 14, 2012 10:26am May 14, 2012 10:26am
Quoting 60minuteman
Two shots a gchf too.... easy set ups all over..
Hey 60mm,

Is that an indi you are using to identify the engulfing bars, or did you insert those little red arrows just to show us the bar?

PGPB
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