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  • #621
  • Jun 19, 2012 5:05am Jun 19, 2012 5:05am
Quoting wolfeman
I think it will be interesting what paulus has to say about todays trade. From what I can see today is a no trade day. I don't see a single entry as per my understanding of the rules.

The 8GMT candle was lower that the 7, which was lower than the 6. We should be looking to go short, right? From then I see no stoch pass from 80 to 50 that might signal a short trade. There is one, but that is after the price went back above the 8 candle open.

Someone please correct me if I'm wrong, this is my first day
Broker variation will give different entries/results sometimes. Alpari (UK) Spreadbetting platform gave a valid long earlier, which was stopped out.
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  • #622
  • Jun 19, 2012 5:12am Jun 19, 2012 5:12am
Hi Sidefx,
I too read it like Wolfeman. Looking at your posted chart it looks like London open was indeed lower than EU open and therefore we were looking only for shorts?
G
  • #623
  • Jun 19, 2012 5:13am Jun 19, 2012 5:13am
Quoting wolfeman
i think it will be interesting what paulus has to say about todays trade. From what i can see today is a no trade day. I don't see a single entry as per my understanding of the rules.

The 8gmt candle was lower that the 7, which was lower than the 6. We should be looking to go short, right? From then i see no stoch pass from 80 to 50 that might signal a short trade. There is one, but that is after the price went back above the 8 candle open.

Someone please correct me if i'm wrong, this is my first day

Моя мысль про сегодня торги: ЕС вниз. Убыток 7 пунктов.
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  • #624
  • Jun 19, 2012 5:17am Jun 19, 2012 5:17am
this was adifficult one and not a situation Id really seen before so I tried to look at the market logically ...I marked the hi and lo and we did take out the hi but there was no long as the macd didnt turn red between A and B

By the time I had a red macd we were and I was looking to long the price was 1.2 pips above the low of the EU session at C ..so how can I take this long .. Im at the bottom of the range of the EU session and so i reverted back to my down line on the EU session and looked for a short

My 1st setup at D was not confirmed as the stoch at the point of the signal was below 50

My entry was at E SL 1 pip above the hi I needed 3 x 5pips and my spread was 4 on my Sb today so I needed 19 pips

Which I gained

Mon
Account £16,830 x 5% = £841
Result - Win £2,524

Tue

Account £19,354 x 5% = £967
Result - Win £2,903
Account £22,257

Im in Oxford for the next 4 days so I will not be able to trade good luck all
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  • #625
  • Jun 19, 2012 5:21am Jun 19, 2012 5:21am
Quoting Grumbo
Hi Sidefx,
I too read it like Wolfeman. Looking at your posted chart it looks like London open was indeed lower than EU open and therefore we were looking only for shorts?
G
Before the short signal came, the range high had been breached, which according to the rules means we were then looking for a long entry...i see Paulus has now covered today's situation...
  • #626
  • Jun 19, 2012 5:26am Jun 19, 2012 5:26am
Hi Paulus

can you please be kind and answer my Question.

has anyone coded and BT ed the past performance

walker


Quoting Paulus
this was adifficult one and not a situation Id really seen before so I tried to look at the market logically ...I marked the hi and lo and we did take out the hi but there was no long as the macd didnt turn red between A and B

By the time I had a red macd we were and I was looking to long the price was 1.2 pips above the low of the EU session at C ..so how can I take this long .. Im at the bottom of the range of the EU session and so i reverted back to my down line on the EU session and looked for a short

My 1st setup at D was not confirmed...
  • #627
  • Jun 19, 2012 5:27am Jun 19, 2012 5:27am
Hi sidefx, Paulus,
thanks for the clarification. I understand now.
Paulus awsome results mate!
  • #628
  • Jun 19, 2012 5:41am Jun 19, 2012 5:41am
i see what you have done, but how to turn this into an objective rule for future application

for your system, i'm trying to weed out discretion, hence i saw only a buy as posted earlier

Quoting Paulus
By the time I had a red macd we were and I was looking to long the price was 1.2 pips above the low of the EU session at C ..so how can I take this long .. Im at the bottom of the range of the EU session and so i reverted back to my down line on the EU session and looked for a short
  • #629
  • Jun 19, 2012 6:05am Jun 19, 2012 6:05am
Indeed today it was a tough one. I was looking for a short signal. The price had exceeded the European open by about 0.7 of a pip on my platform before the signal was obtained. I decided to stick to a sell. Due to requotes, I was about 6pips from the SHbefore the order was activated. But I had already calculated my sl to be 13pips (my spread is 3pips). Price came to within 0.4pips of my tp before turning on me.

But there is always tomorrow!!
  • #630
  • Jun 19, 2012 7:20am Jun 19, 2012 7:20am
Quoting Grumbo
Hi Sidefx,
I too read it like Wolfeman. Looking at your posted chart it looks like London open was indeed lower than EU open and therefore we were looking only for shorts?
G
Yes but the high of the range was broken at 8:06 hence bias change is to long. Read Step 2 Post#6 Page 1
  • #631
  • Jun 19, 2012 7:38am Jun 19, 2012 7:38am
Paulus,

Thanks for the comments on this trade! It was very insightful and helpful to see how you considered the movement of the market and then finally took the trade.
Thanks.
Bruce

Quoting Paulus
this was a difficult one and not a situation Id really seen before so I tried to look at the market logically ...I marked the hi and lo and we did take out the hi but there was no long as the macd didn't turn red between A and B

By the time I had a red macd we were and I was looking to long the price was 1.2 pips above the low of the EU session at C ..so how can I take this long .. Im at the bottom of the range of the EU session and so i reverted back to my down line on the EU session and looked for a short

My 1st setup at D was not confirmed...
  • #632
  • Jun 19, 2012 11:35am Jun 19, 2012 11:35am
Quoting Jfr
Yes but the high of the range was broken at 8:06 hence bias change is to long. Read Step 2 Post#6 Page 1
It sounds like I am misinterpreting the entry rules but I'm not sure...


6GMT price opens at 1.26066 (IBFX)
7GMT price opens at 1.25938
8GMT price opens at 1.25901

To me this means we are looking to go short- correct? For a long entry we must see a breach of the "euro hour" high of 1.26198. In this case a long could not be considered until after 10GMT. At least that's what I'm seeing.

A couple of people refer to a valid long entry. I can see why they say that; but the "euro hour low" does not determine the bias, rather it is the line between the open and close of the euro time...correct?

The short by paulus then does make sense as the only valid entry was indeed short. I ignored that signal because it was above the London open price and that made me nervous. I now see that I should not have been nervous because we can look for a short in this case all the way up to 1.2698...correct?

If paulus could clarify these points of mine it would really help my understanding of the rules.

As it turned out, I sat out last night and I'm glad I did. Though paulus' trade was a winner, it seems to me he lucked out this time.

Or, should I consider the time proven saying " the more I practice, the luckier I get".

Please don't mistake me as a troll. I'm new to this thread and really want to get it down pat.
  • #633
  • Jun 19, 2012 11:56am Jun 19, 2012 11:56am
Quoting wolfeman
It sounds like I am misinterpreting the entry rules but I'm not sure...


6GMT price opens at 1.26066 (IBFX)
7GMT price opens at 1.25938
8GMT price opens at 1.25901

To me this means we are looking to go short- correct? For a long entry we must see a breach of the "euro hour" high of 1.26198. In this case a long could not be considered until after 10GMT. At least that's what I'm seeing.
European Open line should be set to 05:00GMT and the London Open line to 07:00GMT. The range high was broken at 07:05/06 GMT which signalled looking for a long setup. London is GMT+1 at the moment.
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  • #634
  • Jun 19, 2012 12:53pm Jun 19, 2012 12:53pm
Hi Paulus
Thanks for great, easy to grasp system which I have been using for a good few days now, my results so far have been positive but nowhere near the returns you are getting, and now you have really confused the hell out of me. Up till now anyone coming on to the thread with a suggestion that we should maybe look at some market analysis or take into account what the market is telling us has been advised by your goodself to stop over thinking, stop analysing the trade, keep it simple, if lights are green its go, lights are red dont go, just stick to the rules laid out in the thread and all will be well. Now this morning most of us took trade as per the rules and made a loss, no thinking or over analysing, just
sticking to the rules as you say, then BINGO, all of a sudden you tell us you have a winner because you have used discretion and ignored the rules ,thought about what to do and made a winning trade. Could you tell us how much of your really wonderful positive gains with this method have been made with discretional trades.
Anyway, no offence meant, as I say, really like this way of trading, at least before today I did
Kind Regards
Geoff
  • #635
  • Jun 19, 2012 4:09pm Jun 19, 2012 4:09pm
Damn, I just HATE when a thread evolves to a "what time is it" debate. There I went and did it myself! Go ahead and bitch slap me

I've adjusted my sessions indi to the correct time now.

Still, I don't see the entry criteria as being met for those long trades today. Could be a broker issue. Could some of you guys that took the longs today post your charts so idiots like me can see your entries?

The first one I see is at 7:34


Quoting sidefx
European Open line should be set to 05:00GMT and the London Open line to 07:00GMT. The range high was broken at 07:05/06 GMT which signalled looking for a long setup. London is GMT+1 at the moment.
  • #636
  • Jun 19, 2012 5:40pm Jun 19, 2012 5:40pm
Quoting wolfeman
Damn, I just HATE when a thread evolves to a "what time is it" debate. There I went and did it myself! Go ahead and bitch slap me

I've adjusted my sessions indi to the correct time now.

Still, I don't see the entry criteria as being met for those long trades today. Could be a broker issue. Could some of you guys that took the longs today post your charts so idiots like me can see your entries?

The first one I see is at 7:34
This is from Alpari (UK) Spreadbetting feed. After the failed buy, there was a failed sell; reached 13% odd and retraced...so if going purely by the rules a -5% day (the sell setup wouldn't have been taken...1 trade per day).
Attached Image (click to enlarge)
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  • #637
  • Jun 19, 2012 6:10pm Jun 19, 2012 6:10pm
forgive me for being DUMB.... but can we only BUY on red Macd when it changes to light red plus correct stoch......and SELL when its going from light green to dark green plus red stoch.....


IE is there ANY other variation
  • #638
  • Jun 19, 2012 8:08pm Jun 19, 2012 8:08pm
so it was not correct to take this trade?
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  • #639
  • Jun 19, 2012 8:24pm Jun 19, 2012 8:24pm
Quoting giraia_br
so it was not correct to take this trade?
Not correct

The Euro-London high was taken out. At that point you should start looking for a long trade.
  • #640
  • Jun 19, 2012 8:27pm Jun 19, 2012 8:27pm
Quoting sidefx
This is from Alpari (UK) Spreadbetting feed. After the failed buy, there was a failed sell; reached 13% odd and retraced...so if going purely by the rules a -5% day (the sell setup wouldn't have been taken...1 trade per day).
Agreed
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