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  • #561
  • Jun 18, 2012 5:01am Jun 18, 2012 5:01am
Quoting PeterE
short 1.2704 @ 710GMT SL 1.2730 (-5%) TP 1.2626 (+15%)

+15% TP reached (running total +53% @ 22 sessions)


tight stops comparison:

short 1.2704 @ 710GMT SL 1.2710 (-5%) TP 1.2686 (+15%)

+15% TP reached (running total +15% @ 1 session)
.
I saw this trend in Europe up. The system said buy 1.2705. I wonder what kind of right action?
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  • #562
  • Jun 18, 2012 5:01am Jun 18, 2012 5:01am
i've made a mistake there........for short the MACD signal should be light green to dark green

that entry signal came at 712 GMT (after the 711 candle completed) from what i can tell, short at 1.2700

Quoting klw
Hi Peter -- Can you confirm that 1.2704 is the correct price to short from ? My platform has that particular bar as showing as light green on my macd and does not go dark green until the next bar even allowing for platform differences my xx.10 bar opens at 1.2705 and closes at 1.2698, that is still 6 points difference to you, quite a lot.

Just confused, can you confirm 1.2704 was the correct price and that all conditions had been met to enter at that time ? I woulden't expect differences in platforms to be that much.

Cheers ............

Great...
  • #563
  • Jun 18, 2012 5:05am Jun 18, 2012 5:05am
thanks i'll take a look

Quoting Jpr
There is a script available which does this. Search for 'EASY ORDER'. Allows you to predetermine your risk (%) of account, then drag your SL and TP lines to wherever you want to. Whenever you're ready you just press 'submit' and it calculates the lot size and places the order with your SL and TP.

Check it out.

JPR
  • #564
  • Jun 18, 2012 5:06am Jun 18, 2012 5:06am
Quoting PeterE
i've made a mistake there........for short the MACD signal should be light green to dark green

that entry signal came at 712 GMT (after the 711 candle completed) from what i can tell, short at 1.2700

No worries , thanks for the reply.
  • #565
  • Jun 18, 2012 5:13am Jun 18, 2012 5:13am
Quoting Paulus
yes sorry it is .. 5 % of the compounded bank

Recovery is allot quicker using a fixed financial amount
ie

[/b]
Yes I can see that you can recover quicker from your losses using a fixed lot size,which of course is great when you win but has a downside if you continue to lose as you quite rightly say you would wipe your account out after 20 straight losers.

I personally prefer to use 5% of the outstanding balance of my account all the time win or lose as this means after 20 losers in a row you would still have 36% of your account left. eg you are still in the game.

In fact by using 5% of your outstanding balance for every trade , it is impossible to completely blow your account. You could lose every trade for the rest of your life and still have some money left, be it fairly small but of course one would hope that someone losing every trade might go back to the drawing board before that happened.:nerd:

Of course using 5% still gives you the advantage when you win of the compound growth effect too so your account still grows exponentially. Hence Paulus has managed to double his account 4 times already in less than 3 months. Awesome trading Paulus!!!

So basically the secret to good money management is very,very simple.

Always trade with the same % risk of "The Outstanding Balance of Your Account". That way you will never blow your account but at the same time your winners will grow your account at an amazing rate.

Hope that might help anyone struggling to risk 5% per trade.
Feel the Fear and do it anyway!!!
  • #566
  • Jun 18, 2012 5:38am Jun 18, 2012 5:38am
Quoting tol
I saw this trend in Europe up. The system said buy 1.2705. I wonder what kind of right action?
Draw the trendline from European Open to London Open to determine which direction to trade. See Paulus post #6.
  • #567
  • Jun 18, 2012 5:59am Jun 18, 2012 5:59am
Quoting sidefx
Draw the trendline from European Open to London Open to determine which direction to trade. See Paulus post #6.

My mistake that I did not take into account the new bottom in the London session. So? And now, after that you have to look down?
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  • #568
  • Jun 18, 2012 6:36am Jun 18, 2012 6:36am
Quoting tol
My mistake that I did not take into account the new bottom in the London session. So? And now, after that you have to look down?
tol

I think you're settings might be off on your opening times. That's why you're reading an up trend when everyone else is seeing down. It's not the "session bottom" its the direction from eur open to lon open.
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  • #569
  • Jun 18, 2012 6:42am Jun 18, 2012 6:42am
This indi helps me a lot with lot sizing. I've modified it to calculate based on account balance. Just set the risk % and you can calculate based on s/l in pips or at a certain level.

For this strategy set it to your desired level and then it will adjust as market moves to the appropriate lot size.
Attached File(s)
File Type: ex4 LotCalculator Balance.ex4   6 KB | 340 downloads
File Type: mq4 LotCalculator Balance.mq4   7 KB | 423 downloads
  • #570
  • Jun 18, 2012 6:49am Jun 18, 2012 6:49am
Hello @ all,

Paulus,

how much trades have you taken until now? I think a little bit more than 50?


This is a very nice thread, thx Paulus for sharing this :-)


Regards...

Chriss
  • #571
  • Jun 18, 2012 7:24am Jun 18, 2012 7:24am
Quoting tol
My mistake that I did not take into account the new bottom in the London session. So? And now, after that you have to look down?
Make sure your open/close session indicator is drawing lines at the correct time for the european and London open - then draw your trendline between price at those two opening points...sloping downwards this morning.
  • #572
  • Jun 18, 2012 7:39am Jun 18, 2012 7:39am
Tol

The London Open you show on your chart should be 1 hour later likewise with the European Open. However from what I can gather from this system you need to look at the slope of the price from 6am (1hr before the European Open) to 8am (London Open) current UK time.

It would be helpful as there has been so much needless confusion about which times to look at if Paulus would once and for all make it clear that his system looks at the two hours prior to the London Open and has absolutely nothing to do with the Eurpopean Open whatsoever.

So on your chart the start of you line is correct but the end of the line should carry on for another hour.

Also where you say short I make it one peak earlier and you then almost get stopped out on the peak you have chosen.

This system caught my eye as I trade a reasonably similar one that I designed myself.
  • #573
  • Jun 18, 2012 7:44am Jun 18, 2012 7:44am
I watched all of the pages. The answer is no. What GMT time will reveal London. What is the Europe. I looked at Paulus - the entrance to the market as I have. Ordered a certificate is just no time. Answer please.
  • #574
  • Jun 18, 2012 7:50am Jun 18, 2012 7:50am
Quoting tol
I watched all of the pages. The answer is no. What GMT time will reveal London. What is the Europe. I looked at Paulus - the entrance to the market as I have. Ordered a certificate is just no time. Answer please.
The European Open line should be at 5am GMT and the London Open line at 7am GMT.
  • #575
  • Jun 18, 2012 7:54am Jun 18, 2012 7:54am
Quoting tol
I watched all of the pages. The answer is no. What GMT time will reveal London. What is the Europe. I looked at Paulus - the entrance to the market as I have. Ordered a certificate is just no time. Answer please.
Looks like you're an hour early on your London open on your platform.
  • #576
  • Jun 18, 2012 8:00am Jun 18, 2012 8:00am
Hi Paulus, and Hi every one followowing this thread.

I have followed your thread from the very first day. I only started using it thursday last week because I am very new in the trade and was practicing most of the time. But I am conviced it is a winner.It may not be what proffessionals would be looking for, but for us who are new here, it gives us a stepping stone.I have 2 losses and 1 winner but my acc is 4.3% up.

Thanks Paulus
  • #577
  • Jun 18, 2012 10:24am Jun 18, 2012 10:24am
I set this up this morning on a micro account for trading here in US time zone.

Decided to try E/U and G/U both.

First trade on G/U was triggered 13 minutes after NY open at 1.5652
S/L was hit at 1.5606 (just barely) If s/l would have been a pip higher trade would have been a win. Oh well.

G/U - L -5%

Watched E/U and it wasn't triggered until 1 hr. 14 minutes at 1.2602. S/L of 1.2610 was almost hit (ironically to within 1 pip) and then turned back down. Brought s/l to +20 pips when trade reached +22. Was almost immediately hit at 1.2582 for a win.

E/U - W +12%

Not quite sure why my win was only 12%. My s/l was 1.2610 (6 pips + 2 for spread). 6x3=18 plus 2 for spread is 20. Don't know if market jumped at last second so my lot size was off. Guess it could have gone the other way.
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  • #578
  • Jun 18, 2012 10:29am Jun 18, 2012 10:29am
Hey quick question.

Tough to watch screen every minute even for short time...nature calls, wife needs you, etc.

If any of you miss the first tradeable entry are you just shutting down for the day or do you take the next entry that you see. Either way would be a mechanical system. Just interested to hear how you all think.

Thanks,
  • #579
  • Jun 18, 2012 10:32am Jun 18, 2012 10:32am
Thanks, that helped to understand. For almost 3 years, as I was looking for a similar algorithm. But I looked for 1 hour. Only now, it turned out gather all in one algorithm. I asked my broker, opening of London? And got the answer that was always at 1 hour earlier in the market. Now I come to you in the team!
  • #580
  • Jun 18, 2012 10:36am Jun 18, 2012 10:36am
Quoting clivepackham



So basically the secret to good money management is very,very simple.

Always trade with the same % risk of "The Outstanding Balance of Your Account". That way you will never blow your account but at the same time your winners will grow your account at an amazing rate.

Hope that might help anyone struggling to risk 5% per trade.
Also I can add if I may trade with the trend ..let the current direction of the market do the work for you

This system is very simple but like all simple things can some times be frustrating and difficult to implement

Find a trend enter on a re-tracement
If all rules are met and you get a green light - enter the market

P
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