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Symphonie Trader System

  • #12,721
  • May 17, 2012 5:19am May 17, 2012 5:19am
Quoting realjumper
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.
yeah not gonna enter.. it was just posted to get me thinking. didnt enter because stoch was oversold and the previous daily low was holding as marked by the white arrow.. Also there was only 20 pips left by the time it was testing the low so I stayed out. Just wondering what everyones thoughts were. I need to start thinking like I should on EVERY trade.. I know I have most of the tools to win I just need to make sure I'm using them thoroughly so I dont make mistakes and give back pips
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  • #12,722
  • May 17, 2012 5:27am May 17, 2012 5:27am
Quoting realjumper
I don't think he was pointing a finger at you.....he was making a general point.
Yes correct.
  • #12,723
  • May 17, 2012 5:37am May 17, 2012 5:37am
Just had a great setup on the GU, 5 mins. It might not look like symphonie but it still is 100%. The STSi Tape at the bottom is just all the symphonie indicators into one strip, created by Xaphod. Also the STSi dash in the top corner was created by him. There is just a stochastic I got use to, but the one RJ uses works the same.

Anyway I took this trade, risking 2% of account setting SL at last high(fractal) but it looked like the price stalled and I ended up getting out only bout 1.7% but could easily have reached 3-5%

The reasons I saw this as a perfect setup.

- Received full symphonie signal 11:55 (close of 11:50 candle, GMT+3)
- At that stage had full 1H signal (look at top right corner
- Chart making lower highs (looking at fractals)
- 2 of my stochastics broker through 50, the 11 and 22 (not symphonie but extra confirmation
- the ADR had loads of room. (bottom right).
- Small divergence, looking at last 2 fractals and green(11) stocastic which can only be good.
- No pivot, resistance or round number near.

Couldnt see any reason not to take the trade.

Realising its a good setup I drew my fib expansion and decided I will go for target 2, which still is above the S1.

I tried to take half profit at T1 about 5 candles later but lost a few pips. How do you guys set half take profit in the system. Do you use a EA or do it manually or maby open 2 trades to begin with?

Anyway the price continuted slowely but started stalling. I took profit on my second half just under T1 only to see it run a few candles later to the original T2 and the also the S1.

Do some of the pros, like olivia, RJ who trade the 5mins chart exit trades when it starts to stall before reaching target? Should I just let the trades run to target but risk giving pips back on future trades?

I feel like its easy to enter trades with a system, anybody can do it, but the diffrence between the constant profitable traders and the rest of us is mostly on the exits.

Any comments, help, criticism on the trade will be appreciated.
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  • #12,724
  • May 17, 2012 5:39am May 17, 2012 5:39am
Quoting Dyekid217
yeah not gonna enter.. it was just posted to get me thinking. didnt enter because stoch was oversold and the previous daily low was holding as marked by the white arrow.. Also there was only 20 pips left by the time it was testing the low so I stayed out. Just wondering what everyones thoughts were. I need to start thinking like I should on EVERY trade.. I know I have most of the tools to win I just need to make sure I'm using them thoroughly so I dont make mistakes and give back pips
You're definitely on the right track kid, and I'm pretty sure that you're going to make it happen for you. All I can say, and you and I both know this is true, is take your time and pick only the best entries. Yeah for sure you'll see trades like the GU you mentioned, and it could drop another 50 pips.....and we're not in it.....but.....if that happens, I'm not going to be cursing thinking 'shit.....I should have had a go because now look what happened'. I'll be thinking...'fine.....I hope someone got the correct entry hours ago and profited from this, because by the time I saw it, it did not meet my standards of entry.

It's that simple.

I want every trade to be a winner......and of course that doesn't happen. But I do win about 85% of the ones I enter.....and that's what matters.

I may not enter a trade this whole session.....or even for a whole day. That's because there was no entries that met my requirements for entry.Simple.

But when my conditions are met.....I have an 85% chance of it being a good trade.

Patience and letting the trades come to you is key. Chasing trades will kill you!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,725
  • May 17, 2012 5:45am May 17, 2012 5:45am
Quoting christiaandu
J
Do some of the pros, like olivia, RJ who trade the 5mins chart exit trades when it starts to stall before reaching target? Should I just let the trades run to target but risk giving pips back on future trades?
I can't speak for Olivia, but I move my SL to BE at about +20 and I manually trail my SL. I won't exit when the PA starts to stall because very often it is just 'breathing', not many trades go in a straight line. If the stall turns into a full blown reversal I will exit, if my SL doesn't get hit first. I don't concern myself with the pips I 'could have had' if I had exited at the stall, because, as I said, very often the pa will continue.......and at the end of the day, I still took a profit. May not be as big as I was expecting, but no one ever went broke from making profits!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,726
  • May 17, 2012 5:49am May 17, 2012 5:49am
Quoting Dyekid217
yeah not gonna enter.. it was just posted to get me thinking. didnt enter because stoch was oversold and the previous daily low was holding as marked by the white arrow.. Also there was only 20 pips left by the time it was testing the low so I stayed out. Just wondering what everyones thoughts were. I need to start thinking like I should on EVERY trade.. I know I have most of the tools to win I just need to make sure I'm using them thoroughly so I dont make mistakes and give back pips
Hi Dyekid217,
Could you please share the pivot indicator you have with Y's HI/LO? Looks much nicer than mine. Thanks very much.
  • #12,727
  • May 17, 2012 5:59am May 17, 2012 5:59am
thanks rj the support is much appreciated!

I saw a setup that looked to be setting up on the 1hr on EJ but price didn't break today's open yet so I dropped down to 5m.. as you see price tested the open 4 times and then finally broke it.. I placed a sell with a stop just above the pivot. Mind you I only took a small position.. a third of what I usually trade just to test the waters.. If price stalled at yesterdays low then I would re evaluate my position but as you see it also broke yesterdays low and now it's retesting it.. I'll see what it does if it touches s1.

Funny what the brain can do.. I just need to use it more
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  • #12,728
  • May 17, 2012 6:08am May 17, 2012 6:08am
I want every trade to be a winner......and of course that doesn't happen. But I do win about 85% of the ones I enter.....and that's what matters.

I may not enter a trade this whole session.....or even for a whole day. That's because there was no entries that met my requirements for entry.Simple.

But when my conditions are met.....I have an 85% chance of it being a good trade.

Patience and letting the trades come to you is key. Chasing trades will kill you!!




Thanks RJ we are learing alot from you
  • #12,729
  • May 17, 2012 6:09am May 17, 2012 6:09am
Hi guys

a trade i took today on EU
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  • #12,730
  • May 17, 2012 6:13am May 17, 2012 6:13am
Quoting realjumper
May not be as big as I was expecting, but no one ever went broke from making profits!!
Depends on your overheads RJ
Everyone's got a plan until they get punched in the face
  • #12,731
  • May 17, 2012 6:18am May 17, 2012 6:18am
looks like a big move is about to happen today !
  • #12,732
  • May 17, 2012 6:24am May 17, 2012 6:24am
very exciting to see that my intuition is kicking in and I'm trading my plan to a T..rarely ever happens on the shorter timeframes.. I think adding in the OHL of the previous day helped tremendously.. and it might also be the fact that I'm just plain tired of having drawdown and/or giving back the profits I make the day before.

My EJ trade is looking very healthy.. as well as EU
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  • #12,733
  • May 17, 2012 6:55am May 17, 2012 6:55am
if the candle closes below the blue line on the Daily I am shooting for 1.2550.
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  • #12,734
  • May 17, 2012 7:03am May 17, 2012 7:03am
Quoting ohammond
It doesn't have a period in it to choose just comes as it is. Under inputs change the colours to something you can see if you have a black chart. I only have the ex4.
Hi Olivia

This indicator seems much more reliable than the one im using. At least these projections seems to get hit everyday....

I realized there are 2 levels in the indicator, level 1 and 2.
do you know whats the rationale behind it?
how do you use these 2 levels?

thanks
  • #12,735
  • May 17, 2012 7:08am May 17, 2012 7:08am
Quoting realjumper
I can't speak for Olivia, but I move my SL to BE at about +20 and I manually trail my SL. I won't exit when the PA starts to stall because very often it is just 'breathing', not many trades go in a straight line. If the stall turns into a full blown reversal I will exit, if my SL doesn't get hit first. I don't concern myself with the pips I 'could have had' if I had exited at the stall, because, as I said, very often the pa will continue.......and at the end of the day, I still took a profit. May not be as big as I was expecting, but no one ever...
Tx RJ, learning alot from guys everyday. Little by little. Found your template and PDF very very usefull. Much appreciated. Keep up the good work!
  • #12,736
  • May 17, 2012 7:19am May 17, 2012 7:19am
sorry my mistake, this isnīt for you it were for Mr. DyeKid217.

but of course we all believe "I haven't had a losing day for months", seems like you have cristal ball. you can deceive some of noobies but not me. I have more years of trading than you have age.

Quoting ohammond
You're sounding very bitter, I haven't had a losing day for months so not sure why that was directed at me?
{Promotion Removed}
  • #12,737
  • May 17, 2012 7:22am May 17, 2012 7:22am
do not be ridiculous, one good trade all currencies

Quoting bobby2
I would like to express my undying love for Symphonie and the Australian Dollar. In fact, I'd like to marry the Aussie Dollar. Can I do that? The Australian Dollar has been very, very, good to me. LOL!!
{Promotion Removed}
  • #12,738
  • May 17, 2012 7:23am May 17, 2012 7:23am
Quoting mike2k
sorry my mistake, this isnīt for you it were for Mr. DyeKid217.

but of course we all believe "I haven't had a losing day for months", seems like you have cristal ball. you can deceive some of noobies but not me. I have more years of trading than you have age.
I doubt that very much unless you were trading in the 50's.
  • #12,739
  • May 17, 2012 7:24am May 17, 2012 7:24am
Quoting munirpt
Hi Olivia

This indicator seems much more reliable than the one im using. At least these projections seems to get hit everyday....

I realized there are 2 levels in the indicator, level 1 and 2.
do you know whats the rationale behind it?
how do you use these 2 levels?

thanks
I tend to use both levels the same way I would any support/resistance.
  • #12,740
  • May 17, 2012 7:27am May 17, 2012 7:27am
I am out of this one. waiting for next entry!
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