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Simple 7 Strategy

  • #61
  • Edited 10:17am May 21, 2012 10:15am | Edited 10:17am
I have installed 2 different "click & drag SL & TP" EAs but I can't get them to work. They show up in the Custom Indicators and the EA tab is on but when I click or dbl click the line to drag it doesn't move. An EA like this would be very helpful with this strategy. Caveman is too complicated for this old brain.

Anyone? Thanks, p.

Would setting an mt4 trailing stop, say 10 pips, and not setting a TP do the same thing?
  • #62
  • May 21, 2012 7:30pm May 21, 2012 7:30pm
I have a problem because I cannot attend the market during the London or NY open most of the time, almost always. The 20 pip trailing stop loss might help me, or perhaps just setting TP for 15 pips. I can enter profit, but cannot lock it in with a stop loss as I am at work.

As far as drag and drop goes FXCM Tradestation does that very nicely.

Quoting piprac
I have installed 2 different "click & drag SL & TP" EAs but I can't get them to work. They show up in the Custom Indicators and the EA tab is on but when I click or dbl click the line to drag it doesn't move. An EA like this would be very helpful with this strategy. Caveman is too complicated for this old brain.

Anyone? Thanks, p.

Would setting an mt4 trailing stop, say 10 pips, and not setting a TP do the same thing?
  • #63
  • May 29, 2012 1:41pm May 29, 2012 1:41pm
Quoting akatom2u
I have a problem because I cannot attend the market during the London or NY open most of the time, almost always. The 20 pip trailing stop loss might help me, or perhaps just setting TP for 15 pips. I can enter profit, but cannot lock it in with a stop loss as I am at work.

As far as drag and drop goes FXCM Tradestation does that very nicely.
I see that you live in the US so do you trade the Asian market in the evening more than the US open/mornings?
  • #64
  • May 29, 2012 6:16pm May 29, 2012 6:16pm
Quoting piprac
I see that you live in the US so do you trade the Asian market in the evening more than the US open/mornings?
I do because that is the only time I can.
  • #65
  • May 31, 2012 10:26am May 31, 2012 10:26am
I sure missed a good opportunity 2 hrs ago on this pr. I was busy setting up a practice acct with Oanda as I need tighter spreads for this strategy. I am anxious to see how evening trading goes and of course with the a.m. NY session. p.
  • #66
  • Jun 1, 2012 6:55pm Jun 1, 2012 6:55pm
Surely you did well on Thursday with the E/U...
  • #67
  • Jun 2, 2012 7:43am Jun 2, 2012 7:43am
Quoting akatom2u
Surely you did well on Thursday with the E/U...
Unfortunately no as I was having trouble getting a different broker's mt4 to load and display. I missed that great action, Friday's too.
  • #68
  • Jun 12, 2012 6:49am Jun 12, 2012 6:49am
I am having better results trading the 1H instead of the 15M & never the 5M. I only trade the a.m. NY session.
  • #69
  • Jun 12, 2012 8:02am Jun 12, 2012 8:02am
Let me know where I can send it to, and I'll send you one to modify TP and SL on the fly.

Quoting piprac
I have installed 2 different "click & drag SL & TP" EAs but I can't get them to work. They show up in the Custom Indicators and the EA tab is on but when I click or dbl click the line to drag it doesn't move. An EA like this would be very helpful with this strategy. Caveman is too complicated for this old brain.

Anyone? Thanks, p.

Would setting an mt4 trailing stop, say 10 pips, and not setting a TP do the same thing?
  • #70
  • Jun 12, 2012 8:58am Jun 12, 2012 8:58am
Quoting Winston Reed
Added a MACD as an additional filter. In general when MACD is below zero one considers shorts and when above zero consider longs. Also careful analysis can be given to MACD spikes above the zero line in a downtrend and spikes below the zero in an uptrend as retracements. Hey I may play with this on demo. Any thoughts anyone?
Quoting akatom2u
I currently use (15m chart) the RSI with a 20 period setting on the 5m, 15m and 1h timeframes as a premium filter (buy above 55 and sell below 45). When the Simple 7 cross is ready, wait for the 3 RSIs to correlate or at least the 5m and 15m. Consider an exit when the 5m or 15m RSI crosses the 50 level.
Hello akatom and winston

I like your MA trading method. We have similar methods. I think EMA 7 and 8 make no much different. I use 8,21,50, MACD and PA. PA is the key factor, I prefer to trade based on trend on H4 and Daily, thou H1 and Weekly I do refer to.

Short AUD/NZD based on the break of PB and when H1 and H4 heading down.

Also short EUR/AUD on H4 after bearish engulfing candlestick on a downtrend.

Also short EUR/USD on H1(risk 40 pips) after seeing the long upper tail candlestick heading down, crossing 8/21/50, MACD moving down. Watching close for a favorite candlestick to show up - I may add a short?

Hope the short on EJ on Daily based on the bearish candlestick will work out nicely, risk 220 pips
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Trade As A Sniper
  • #71
  • Jun 12, 2012 9:15am Jun 12, 2012 9:15am
Quoting pama.fx
Also short EUR/USD on H1(risk 40 pips) after seeing the long upper tail candlestick heading down, crossing 8/21/50, MACD moving down. Watching close for a favorite candlestick to show up - I may add a short?
Just added a short due H1 showed a long upper tail bearish candlestick and H4 a bearish engulfing candlestick, all crossing down (7)8/21/50, with a risk 60+ pips. (1st trade is now BE and a free trade)

Hope this downtrend works well for others.
Trade As A Sniper
  • #72
  • Jun 12, 2012 11:41am Jun 12, 2012 11:41am
Nice trading pama.
  • #73
  • Edited Jun 14, 2012 9:48am Jun 13, 2012 6:08pm | Edited Jun 14, 2012 9:48am
Quoting piprac
Nice trading pama.
The market is in critical period... hard to find any value trades at the moment.

EUR/USD 2nd trade SL hit so -ve, 1st in +ve.
Manually closed EUR/JPY in -ve; EUR/AUD in +ve; AUD/NZD in +ve.

Relook at AUD/NZD... any comment?
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Trade As A Sniper
  • #74
  • Jun 13, 2012 6:39pm Jun 13, 2012 6:39pm
Charles Manson must have been in charge of the NY session this morning, strictly Helter Skelter. I basically broke even and was probably lucky at that. I'm taking the next 4 days off, I hope everyone has good trades. p.
  • #75
  • Jun 21, 2012 4:50pm Jun 21, 2012 4:50pm
This is a trade from today...
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  • #76
  • Jun 21, 2012 4:52pm Jun 21, 2012 4:52pm
The solid vertical brown line is the New York open.
  • #77
  • Jun 22, 2012 7:35pm Jun 22, 2012 7:35pm
Quoting akatom2u
This is a trade from today...
You need some more lines, then it won't be "simple."
  • #78
  • Jun 24, 2012 9:30am Jun 24, 2012 9:30am
Quoting akatom2u
This is a trade from today...
WHERE??????? Too much crap on your chart to see anything....
  • #79
  • Jun 24, 2012 9:58am Jun 24, 2012 9:58am
Quoting tradestar1
WHERE??????? Too much crap on your chart to see anything....
If you have read my first post in this thread... look at the chart and find the EMA cross near the New York open time. You will see a sell signal, then the price goes down untill it converges. I exited my trade at that point.
  • #80
  • Jun 24, 2012 10:01am Jun 24, 2012 10:01am
By the way, 2 trades this week using Simple 7 for about 105 pips, one was about 80 pips the other about 25.
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