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Symphonie Trader System

  • #12,701
  • Edited 6:33pm May 16, 2012 6:20pm | Edited 6:33pm
Quoting Mr Pippy
I didn't take on any trades, save one that I exited out at 2 pips (the AU gave a 5 min signal at 15:00 that eventually broke through the pivot but as it was overbought massively on all timeframes bar the 4 hour, I exited.)
Ok......That trade was not a good place to enter because, as you know, stoch was poorly positioned. The entry was much earlier, but you didn't get the signal because your Trendline setting is wrong, as has been spoken about already.

Regarding the stoch.....if you look at the EU Daily......you can see that it's so oversold that it's almost going underground. That doesn't mean that the PA won't go down more......it means that it would be unwise to enter a short **on that timeframe** because the trade would not be a high probability trade. If you switch to the EU H4, the stoch is not much better, so no shorts on that timeframe either. Lets have a look at EU H1......ahhhh there some pretty good opportunities on this time frame. M15 and M5 are also offering good opportunities as far as stoch is concerned.

I wouldn't dare enter short on the H4 or the Daily, but H1 and less is fine. You have to remember that the larger the time frame, the fewer the opportunities, but the larger and longer the trade will be......that's why the stoch, for our purposes, is specific to the time frame traded.

Now, if you haven't changed your trendline settings to 20, 5, I urge you to do so!!!

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,702
  • May 16, 2012 8:48pm May 16, 2012 8:48pm
Quoting ohammond
I prefer fresh signals on H1, I have always said the same and I try to stay in as long as possible, if its a re-entry I look very carefully around to see if I can see why the trend should carry on, that means looking for all sorts of things, so why not try just trading fresh signals only for a while and see how you get on. I have the 50 EMA on my chart and don't like to trade too close into that as it bounces from it quite often, other than that I take fresh signals.
Hi Olivia,

I understand where you are coming from with trading toward the 50EMA. What happens if you get a sell signal then say 4 bars later you get a cross below the 50EMA? I know there's other things to consider but would you enter or be wary of that trade and await a retrace and re-signal below the 50EMA to get in?

Cheers,

John
Everyone's got a plan until they get punched in the face
  • #12,703
  • May 16, 2012 9:10pm May 16, 2012 9:10pm
Hey guys really appreciate your help earlier today.. I just need to keep my head on straight even though trading may be frustrating. I'm sure some if not all of you have had your ups and downs trading.. I should be proud that I haven't lost any money in my 7 months of live trading.

I noticed that price failed to break yesterdays low as well which may have resulted in my loss. I have added a pivot indicator which also shows the high/low/open of the previous day which should come in handy.

I just need to stay persistant.. eventually I know it will pay off!
  • #12,704
  • May 16, 2012 11:20pm May 16, 2012 11:20pm
Quoting Dyekid217
Hey guys really appreciate your help earlier today.. I just need to keep my head on straight even though trading may be frustrating. I'm sure some if not all of you have had your ups and downs trading.. I should be proud that I haven't lost any money in my 7 months of live trading.

I noticed that price failed to break yesterdays low as well which may have resulted in my loss. I have added a pivot indicator which also shows the high/low/open of the previous day which should come in handy.

I just need to stay persistant.. eventually I know it will...
Be careful of adding more and more stuff to your charts kid......you don't need it and it just makes your analysis and decisions that much harder. I've been through what you're going through, and I dare say most traders have.

At the end of the day.....the price can go up, down or sideways. No matter which indicators, or how many indicators you put on your chart, the price can only do those things.....and there isn't an indicator in existence that can predict which way it will go with 100% accuracy!! The more indi'es you add, the more complicate the matter becomes and the deeper hole you will dig for yourself.

The recent breakout from the pennent thingee that I have been posting for quite some time was an absolute textbook breakout....retest....drop. The AU pair broke out from parity, retested parity, dropped. That is textbook basic stuff, and Symphonie caught it all easily. Even without the Daily pennent thingee.....Symphonie caught the drop all the way from 1.33 following the 2 daily doji's and overbought stoch. All basic stuff kid.

Don't complicate this by adding more stuff to your charts.....try to see the forest amoung the trees.

Never give up and you'll make it......the answer is in a few well chosen indies and a good system.....not in adding more stuff to you charts!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,705
  • May 16, 2012 11:54pm May 16, 2012 11:54pm
Quoting Dud45
Hi Olivia,

I understand where you are coming from with trading toward the 50EMA. What happens if you get a sell signal then say 4 bars later you get a cross below the 50EMA? I know there's other things to consider but would you enter or be wary of that trade and await a retrace and re-signal below the 50EMA to get in?

Cheers,

John
I wouldn't take the trade just because it had crossed below the 50 if it had signalled a few bars ago, unless either it was roughly the same price as the signal should have been taken anyway, or it was a continuation candle pattern (I take quite a few of those). If there was nothing, I would wait for a retrace and new signal. I look at 4 pairs, so I tend to look for the better setups of 2-3 of the 4.
  • #12,706
  • May 17, 2012 12:33am May 17, 2012 12:33am
Quoting realjumper
Be careful of adding more and more stuff to your charts kid......you don't need it and it just makes your analysis and decisions that much harder. I've been through what you're going through, and I dare say most traders have.

At the end of the day.....the price can go up, down or sideways. No matter which indicators, or how many indicators you put on your chart, the price can only do those things.....and there isn't an indicator in existence that can predict which way it will go with 100% accuracy!! The more indi'es you add, the more complicate...
Not gonna clutter my charts.. I just need to be able to see where the previous day hi/low are because I have quite a hard time remembering that the OHLC of daily/weekly candles are important.. Just two more lines on top of the pivots won't do much harm just a reminder as I know I should be paying attention to them and I dont.
  • #12,707
  • May 17, 2012 12:56am May 17, 2012 12:56am
Could make a case out of this for a temporary bottom on the Daily......
Attached Image
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,708
  • May 17, 2012 1:07am May 17, 2012 1:07am
Quoting realjumper
Could make a case out of this for a temporary bottom on the Daily......
Looks like the twin of the Aussie.
Everyone's got a plan until they get punched in the face
  • #12,709
  • May 17, 2012 1:20am May 17, 2012 1:20am
Both seem to be hovering around bottoms from back in Dec/Jan.
Everyone's got a plan until they get punched in the face
  • #12,710
  • May 17, 2012 1:26am May 17, 2012 1:26am
Quoting Dud45
Both seem to be hovering around bottoms from back in Dec/Jan.
Interesting.......the oversold state has to unwind at some stage. Time will tell if this is the beginning or not. With the uncertainty of the EZ due to Greece, it's hard to imagine an rise in EU ....... but anything can happen!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,711
  • May 17, 2012 2:48am May 17, 2012 2:48am
Quoting realjumper
Ok......That trade was not a good place to enter because, as you know, stoch was poorly positioned. The entry was much earlier, but you didn't get the signal because your Trendline setting is wrong, as has been spoken about already.

Regarding the stoch.....if you look at the EU Daily......you can see that it's so oversold that it's almost going underground. That doesn't mean that the PA won't go down more......it means that it would be unwise to enter a short **on that timeframe** because the trade would not be a high probability trade. If you...
Really enjoyed reading this post Realjumper.

To anyone wondering about the benefits of using stochs with Mtf analysis, I would suggest you really understand the point that realjumper is trying to hammer through with that post, especially the middle part.....

"Regarding the stoch.....if you look at the EU Daily......you can see that it's so oversold that it's almost going underground. That doesn't mean that the PA won't go down more......it means that it would be unwise to enter a short **on that timeframe** because the trade would not be a high probability trade. If you switch to the EU H4, the stoch is not much better, so no shorts on that timeframe either. Lets have a look at EU H1......ahhhh there some pretty good opportunities on this time frame. M15 and M5 are also offering good opportunities as far as stoch is concerned.

I wouldn't dare enter short on the H4 or the Daily, but H1 and less is fine. You have to remember that the larger the time frame, the fewer the opportunities, but the larger and longer the trade will be......that's why the stoch, for our purposes, is specific to the time frame traded."

Thanks for the post.
  • #12,712
  • May 17, 2012 4:08am May 17, 2012 4:08am
just sold EU off the 1hr targeting yesterdays lows.. let me know if you guys would take it! thanks.. gonna post up all my trades for now until I get all my mistakes fixed..
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  • #12,713
  • May 17, 2012 4:20am May 17, 2012 4:20am
Quoting Dyekid217
just sold EU off the 1hr targeting yesterdays lows.. let me know if you guys would take it! thanks.. gonna post up all my trades for now until I get all my mistakes fixed..
It's not a trade i would have taken because most of the EU banks are closed today......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,714
  • May 17, 2012 4:25am May 17, 2012 4:25am
Ive taken it mainly because of the strength in the dollar..

I think most of my trades that were losers were because I didn't take the time to actually think about why I would get into the trade. I need to just stop and think for a second before getting trigger happy
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  • #12,715
  • May 17, 2012 4:32am May 17, 2012 4:32am
Quoting Dyekid217
Ive taken it mainly because of the strength in the dollar..

I think most of my trades that were losers were because I didn't take the time to actually think about why I would get into the trade. I need to just stop and think for a second before getting trigger happy
Yeah that happens. Sometimes it's not until you place the trade that you see the reason why you shouldn't have!!!

I think Olivia said once that we should take screenshots of our entries and see if we would be proud of them or not....and it's not a bad idea.

It's also good to keep a record of your trades, entries, reasons, targets etc etc etc as well as how it worked out. When you review the trades later you can sometimes see a pattern that you may wish to examine more closely.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,716
  • May 17, 2012 4:33am May 17, 2012 4:33am
what do you guys think about GU? its breaking yesterdays lows and based off the weekly theres still plenty of room to head south but stochastics isn't in an ideal place

It hasnt broken the lows convincingly though so I'm skeptical.

RJ- yes I think it was you that told me I should start a journal and post all my trades.. time and where stochastics was. and if it was a loser or a winner.. its a good idea i just don't know why I havent done it yet..
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  • #12,717
  • May 17, 2012 4:52am May 17, 2012 4:52am
Quoting realjumper
Be careful of adding more and more stuff to your charts kid......you don't need it and it just makes your analysis and decisions that much harder. I've been through what you're going through, and I dare say most traders have.

At the end of the day.....the price can go up, down or sideways. No matter which indicators, or how many indicators you put on your chart, the price can only do those things.....and there isn't an indicator in existence that can predict which way it will go with 100% accuracy!! The more indi'es you...
This are some very good points and i agree. I will even say that there isn't an indicator that can predict which way price will go with 55% accuracy. (maybe even not 51%)
If there was a indicator like that we could just build a EA from it and make money for the rest of our life but i hope people understand that it will never happen.
I am not saying indicators can not help you in trading and that a profitable EA does not exist. All i am saying is that a indicator can not tell you where price will go so i agree with Realjumper when he say that if you are having problems in your trading adding more "stuff" to your chart will not help you. In my opinion you may find just as much help in removing something from the charts.

Arctic4x
  • #12,718
  • May 17, 2012 5:09am May 17, 2012 5:09am
Quoting Arctic4x
This are some very good points and i agree. I will even say that there isn't an indicator that can predict which way price will go with 55% accuracy. (maybe even not 51%)
If there was a indicator like that we could just build a EA from it and make money for the rest of our life but i hope people understand that it will never happen.
I am not saying indicators can not help you in trading and that a profitable EA does not exist. All i am saying is that a indicator can not tell you where price will go so i agree with Realjumper when he say that if...
I didnt add anything that's going to alter the method.. Just the High and low of the previous day. As you see my charts are still quite simple.. It's just a visual aid so I know where the previous day S&R was
  • #12,719
  • May 17, 2012 5:12am May 17, 2012 5:12am
Quoting Dyekid217
what do you guys think about GU? its breaking yesterdays lows and based off the weekly theres still plenty of room to head south but stochastics isn't in an ideal place

It hasnt broken the lows convincingly though so I'm skeptical.

RJ- yes I think it was you that told me I should start a journal and post all my trades.. time and where stochastics was. and if it was a loser or a winner.. its a good idea i just don't know why I havent done it yet..
If you take a quick peek at a GU M15 chart, you can see that the ideal entry time was 2 hours before Frankie (for some reason)......and this is shown on the H1 as the first bear candle. I guess you could enter now, but it's not a high probability entry because of the stoch position.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,720
  • May 17, 2012 5:14am May 17, 2012 5:14am
Quoting Dyekid217
I didnt add anything that's going to alter the method.. Just the High and low of the previous day. As you see my charts are still quite simple.. It's just a visual aid so I know where the previous day S&R was
I don't think he was pointing a finger at you.....he was making a general point.
Doing what you like is Freedom. Liking what you do is Happiness.
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