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Symphonie Trader System

  • #13,841
  • Jun 22, 2012 1:38am Jun 22, 2012 1:38am
Quoting frontline141
Hi Evaluator

Signals in 60m and entries in 5m..... but what about the exit strategy?

"SPECIAL EXCEPTION to Exit Strategy This exception applies to all Exit Strategies and supersedes them. When a trade produces an Extreme Spikes before reaching 30 pips....,EXIT THE TRADE IMMEDIATELY."

I take the exit strategy in 5m so these weeks I have lots of negative stops

but u mentioned the trade could be hold for days, so I guess it is consider in hr TF?


thanks !!!

frontline141,

Great question!

Because I am following 60 min. I use the 60 min chart to determine entry and exits.... I wait for 60 min to give signal then move to 5 min for actual order entry point then swtich back to 60 min and I usually follow Exit Strategy #2.

So for exception rule...I look to 60 min once I have enter a trade.

But why switch to 5 min??? Simple. It is normal for pullback at the beginning of a Symphonie Signal so I use the 5 min chart to determine the pullback and give me the best entry level for the larger timeframe move. I am playing off my post #2449 but with a twist because I let the 5 min chart do the work for me and find the better entry point.

Good luck!

Evaluator.:nerd:
  • #13,842
  • Jun 22, 2012 2:31am Jun 22, 2012 2:31am
Quoting Evaluator
With Wednesday USA Central Bank decision we have a strong drop in EURUSD that breaks a trendline of the uptrend that begin on 1 Jun. It also forms a perfekt abc corrective wave triangle that screams to me that the corrective wave is complete and the 5th or final push of the overall downtrend is about to contunue its fall...
Evaluator, did you decided to hold our short(even though v3 changed to blue in 1 hr) due to the news on wednesday or just on the analysis of the daily tf? do you only trade eu, or did u short gu aswell? Why are you no longer trading the 5TF?
  • #13,843
  • Jun 22, 2012 2:50am Jun 22, 2012 2:50am
Quoting grechmar
Evaluator, did you decided to hold our short(even though v3 changed to blue in 1 hr) due to the news on wednesday or just on the analysis of the daily tf? do you only trade eu, or did u short gu aswell? Why are you no longer trading the 5TF?

grechmar,

I am use Exit Strategy 2 so 1/2 is exit at extreme change the the rest remain until trendline change. As tzo your question the answer is all of the above...news, patterns, Symphonie...I use them all to determine trades.

To answer your last question: Simply....I find 60 min charts more stable and the stress level is lower...I feel more comfortable trading 60 min charts lately. That is not say the in future I will trade in that timeframe. I just prefer current 60 min charts right now.

One must choose what fits them best and that is the great part about Symphonie is the ability to keep the same system and choose what conditions one fell most comfortable.

Evaluator.:nerd:
  • #13,844
  • Jun 22, 2012 3:05am Jun 22, 2012 3:05am
i have one question:
buy EURUSD 1 lot at ....
when sell,i want sell 1/2 position and 1/2 later , but do not know what to use.
please help !
  • #13,845
  • Jun 22, 2012 3:08am Jun 22, 2012 3:08am
Quoting Ati_82
Well, it might differ from people to people but really comes down where and when do I see the signal. Is there a chart formation (double-top/bottom etc) sto divergence, pivot level, strong horizontal support or resistance levels confirming my view / signal ? Is this happening during london/ny higher volume times? If the answer is yes to some / all of the above... I usually shoot first and ask questions later

Entering a trade is easy, exiting is much-much harder thing to master. If for any reason I'm not comfortable with the situation A, do...
Thanks Ati_82. Cheers.
  • #13,846
  • Jun 22, 2012 3:08am Jun 22, 2012 3:08am
Quoting Evaluator
grechmar,

I am use Exit Strategy 2 so 1/2 is exit at extreme change the the rest remain until trendline change. As tzo your question the answer is all of the above...news, patterns, Symphonie...I use them all to determine trades.

To answer your last question: Simply....I find 60 min charts more stable and the stress level is lower...I feel more comfortable trading 60 min charts lately. That is not say the in future I will trade in that timeframe. I just prefer current 60 min charts right now.

One must choose what fits them best and that...
yes, in fact i am finding 5m TF highly stressful, i a try the 60 min TF which i think is better in the current climate.
  • #13,847
  • Jun 22, 2012 3:14am Jun 22, 2012 3:14am
Quoting gtudor
i have one question:
buy EURUSD 1 lot at ....
when sell,i want sell 1/2 position and 1/2 later , but do not know what to use.
please help !
Right click on your trade, click close position and where it has the amount to close, fill in what you want to close and then ok.
  • #13,848
  • Jun 22, 2012 3:19am Jun 22, 2012 3:19am
Quoting Evaluator
frontline141,

Great question!

Because I am following 60 min. I use the 60 min chart to determine entry and exits.... I wait for 60 min to give signal then move to 5 min for actual order entry point then swtich back to 60 min and I usually follow Exit Strategy #2.

So for exception rule...I look to 60 min once I have enter a trade.

But why switch to 5 min??? Simple. It is normal for pullback at the beginning of a Symphonie Signal so I use the 5 min chart to determine the pullback and give me the best entry level...


Thanks alot !


In this strategy, the SL is 100pips (1h rule) or last swing low?

thanks
  • #13,849
  • Jun 22, 2012 4:04am Jun 22, 2012 4:04am
Quoting Evaluator
With Wednesday USA Central Bank decision we have a strong drop in EURUSD that breaks a trendline of the uptrend that begin on 1 Jun. It also forms a perfekt abc corrective wave triangle that screams to me that the corrective wave is complete and the 5th or final push of the overall downtrend is about to contunue its fall.

I sold EURUSD at 1.27050 (60 min Symphonie Signal) and look to hold until the the end of this next drop. Initial target puts the this current drop in the 1.21500 to (if an extended wave v) 1.18000 range....

Then I look...
Usd.Chf and Usd.Cad seem to be lined up for a fall(speculative). This would mean e/u going up. Furthermore eu did not even test 1.26, so there might be some 60pip profit taking on that, and also regarding the weekly gap of 1.3080(never has a gap not been closed since years ago) how did you make up your mind that e/u would first reach 1.22 and only after that reach 1.31?
  • #13,850
  • Jun 22, 2012 4:10am Jun 22, 2012 4:10am
Quoting grechmar
Furthermore eu did not even test 1.26....
??????????????????

i think that's what you call a double top? and that's an hourly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 45 KB
  • #13,851
  • Jun 22, 2012 4:12am Jun 22, 2012 4:12am
Quoting yelena
??????????????????

i think that's what you call a double top? and that's an hourly chart.
What i mean is it did not test the 1.2600 mark, usually we get a small bounce at round numbers and it is either broken or a reversal with the bounce
  • #13,852
  • Jun 22, 2012 4:22am Jun 22, 2012 4:22am
Quoting frontline141
Thanks alot !


In this strategy, the SL is 100pips (1h rule) or last swing low?

thanks

Whatever you prefer....set stoploss with which ever level you feel most comfortable.

Swing highs and lows are good areas for a stoploss.

The whole point is to have one to protect you from margin call or loss trade that reall hurts you account.

Evaluator.:nerd:
  • #13,853
  • Jun 22, 2012 4:25am Jun 22, 2012 4:25am
Quoting grechmar
Usd.Chf and Usd.Cad seem to be lined up for a fall(speculative). This would mean e/u going up. Furthermore eu did not even test 1.26, so there might be some 60pip profit taking on that, and also regarding the weekly gap of 1.3080(never has a gap not been closed since years ago) how did you make up your mind that e/u would first reach 1.22 and only after that reach 1.31?

Elliott waves and fib retracement levels...... As to the gap down open from a few weeks ago...it is high irregular for gaps not to close but sometimes it happens.
  • #13,854
  • Jun 22, 2012 4:35am Jun 22, 2012 4:35am
i have one question:
buy EURUSD 1 lot at ....
when sell,i want sell 1/2 position and 1/2 later , but do not know what to use.
please help !
  • #13,855
  • Jun 22, 2012 4:54am Jun 22, 2012 4:54am
Quoting gtudor
i have one question:
buy EURUSD 1 lot at ....
when sell,i want sell 1/2 position and 1/2 later , but do not know what to use.
please help !

Post #13850
  • #13,856
  • Jun 22, 2012 4:57am Jun 22, 2012 4:57am
Quoting morris1
Post #13850
thanks all !
  • #13,857
  • Edited Jun 24, 2012 2:14pm Jun 23, 2012 7:43pm | Edited Jun 24, 2012 2:14pm
ATTENTION ALL! Has Found if on graph of no windows indicators Symphonie_Sentiment_Indikator_v3.0 or SEFC Bulls-Bears, occurs record in journal " unknown number -1". These indicators search for on main graph themselves. If they themselves find - a record in journal is not produced. If proceeds call these indicator from EA, that they without fall must be on graph!!!
Note: If delete the lines 10 and 11, graph is of the form of WAVES and possible see, when is changed colour. Same comes of Bools-Bear (lines 11 and 12).
  • #13,858
  • Jun 23, 2012 8:18pm Jun 23, 2012 8:18pm
Quoting zmejskij
ATTENTION ALL! I have corrected the mistake in indicator Sentiment! In journal is not produced record " unknown number -1".
Note: If delete the lines 10 and 11, graph is of the form of WAVES and possible see, when is changed colour. Same comes of Bools-Bear (lines 11 and 12).
Can you explain what difference we should see on the charts please? Thank you
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,859
  • Jun 23, 2012 9:45pm Jun 23, 2012 9:45pm
Forget the PIIGS, the EU as a Whole is Insolvent

By Phoenix Capital Research
Created 06/23/2012 - 20:56
Europe is heading into a full-scale disaster.

You see, the debt problems in Europe are not simply related to Greece. They are SYSTEMIC. The below chart shows the official Debt to GDP ratios for the major players in Europe.

http://www.zerohedge.com/sites/defau...2012/06/eu.jpg

As you can see, even the more “solvent” countries like Germany and France are sporting Debt to GDP ratios of 75% and 84% respectively.

These numbers, while bad, don’t account for unfunded liabilities. And Europe is nothing if not steeped in unfunded liabilities.

Let’s consider Germany. According to Axel Weber, the head of Germany’s Central Bank, Germany is in fact sitting on a REAL Debt to GDP ratio of over 200%. This is Germany… with unfunded liabilities equal to over TWO times its current GDP.

To put the insanity of this into perspective, Weber’s claim is akin to Ben Bernanke going on national TV and saying that the US actually owes more than $30 trillion and that the debt ceiling is in fact a joke.

What’s truly frightening about this is that Weber is most likely being conservative here. Jagadeesh Gokhale of the Cato Institute published a paper for EuroStat in 2009 claiming Germany’s unfunded liabilities are in fact closer to 418%.

And of course, Germany has yet to recapitalize its banks.

Indeed, by the German Institute for Economic Research’s OWN admission, German banks need 147 billion Euros’ worth of new capital.

To put this number into perspective TOTAL EQUITY at the top three banks in Germany is less than 100 billion Euros.

And this is GERMANY we’re talking about: the supposed rock-solid balance sheet of Europe. How bad do you think the other, less fiscally conservative EU members are?

Think BAD. As in systemic collapse bad.

Indeed, let’s consider TOTAL debt sitting on Financial Institutions’ balance sheets in Europe. The below chart shows this number for financial institutions in several major EU members relative to their country’s 2010 GDP.

Country
Financial Institutions’ Gross Debt as a % of GDP
Portugal

65%

Italy

99%

Ireland

664%

Greece

21%

Spain

113%

UK

735%

France

148%

Germany

95%

EU as a whole

148%

Source: IMF

As you can see, financial institutions in Germany, France, Italy, Spain, the UK, and Ireland are all ticking time bombs.

Indeed, taken as a whole, European financial institutions have more debt than Europe’s ENTIRE GDP. Let’s compare the situation there to that in the US banking system.

Taken as a whole, the US banking system is leveraged at 13 to 1. Leverage levels at the TBTFs are much much higher… but when you add them in with the 8,100+ other banks in the US, total US bank leverage is 13 to 1.

The European banking system as a whole is leveraged at nearly twice this at over 26 to 1. That’s the ENTIRE European Banking system leveraged at near Lehman levels (Lehman was 30 to 1 when it collapsed).

To put this into perspective, with a leverage level of 26 to 1, you only need a 4% drop in asset prices to wipe out ALL capital. What are the odds that European bank assets fall 4% in value in the near future as the PIIGS continue to collapse?

http://www.zerohedge.com/sites/defau...6/leverage.jpg


These leverage levels alone position Europe for a full-scale banking collapse on par with Lehman Brothers. Again, I’m talking about Europe’s ENTIRE banking system collapsing.

This is not a question of “if,” it is a question of “when.” And it will very likely happen before the end of 2012.

The reason that this is guaranteed to happen before the end of 2012 is that a HUGE percentage of European bank debt needs to be rolled over by the end of 2012.

http://www.zerohedge.com/sites/defau...0rollovers.gif


I trust at this point you are beginning to see why any expansion of the EFSF or additional European bailouts is ultimately pointless: Europe’s ENTIRE BANKING SYSTEM as a whole is insolvent. Even a 4-10% drop in asset prices would wipe out ALL equity at many European banks.


Good Investing!

Graham Summers
  • #13,860
  • Jun 24, 2012 5:23am Jun 24, 2012 5:23am
Quoting Evaluator
Forget the PIIGS, the EU as a Whole is Insolvent
This is mischief and part psychological warfare!

England and the United States historically have always worked against the Euro zone. And there are the big players with the Fed and the rating agencies go hand in hand.

Many experts attest to the euro zone better prospects than the U.S. or Japan.

see here:
http://translate.google.de/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.godmode-trader.de%2Fnachricht%2FVerteidigungsstrategie-der-EUR-Shortpositionen-geht-in-naechste-Runde%2Ca2860637%2Cb457.html

a good rule of trading is, do the same like the big player. So if they sell the EUR, we do that close. And Symphonie says as, what goes on.
Thank you symphonie!
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