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Quick and Dirty EOD

  • #21
  • Jun 27, 2012 5:55pm Jun 27, 2012 5:55pm
oops... wrong chart


This is why I loose points for excessive posting.

Perhaps the same could be said for trading ??
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When the Joker is in the deck.. fear not and play it well
  • #22
  • Jun 27, 2012 6:20pm Jun 27, 2012 6:20pm
Anyone wants to take a shot at a dashboard for this system to screen many pairs at the same time? Thanks
  • #23
  • Jun 27, 2012 8:37pm Jun 27, 2012 8:37pm
Quoting Hugh Briss
This is an "end of day" system that I have been looking into. It is not thoroughly tested yet but a visual backtest looks very promising and it could be a good method for people with a full time job or who live in places where trading the London session means being up at 3am.

It takes into account the monthly trend and then trades the daily only in that direction. It can be used on any pair or other instrument but I have used eurusd for the example. I have shown 2 winners and one that would be currently open. Of course there are losers and...
good job man,thanks!I will code an ea later to backtest this.
  • #24
  • Jun 27, 2012 8:49pm Jun 27, 2012 8:49pm
Hey Hugh,

This is an old thread might have something of value for you or others who are
interested..

1000 or so replies on it....for whatever thats worth????

http://www.forexfactory.com/showthread.php?t=44759
Master your Mind,,,Master the Market
  • #25
  • Jun 27, 2012 9:23pm Jun 27, 2012 9:23pm
Quoting Slim Buffett
Probably a good strategy tho I think I prefer the weekly/daily.
Could be a little less stressful than hammering away at the hourly charts.
Er, it's an end of day system, no hourly charts involved.
  • #26
  • Jun 27, 2012 9:24pm Jun 27, 2012 9:24pm
Quoting prof8t
How are you factoring in your support and resistance? Looks like the EURO is flirting with a low seen in 2008/2009.
Yes, a rule regarding not trading into strong historic s/r and round numbers sounds like a good idea.
  • #27
  • Jun 27, 2012 9:25pm Jun 27, 2012 9:25pm
Quoting Nate04
I have a question concerning your stop loss Hugh. Do you ever move up to break even, say like when you've reached 100 pips for example, or is every trade either a 200 pip win or 100 pip loss? Just curious... And thanks for sharing your idea.
No worries. In this case I think letting it do it's thing, win or lose, would be better in the long run.
  • #28
  • Jun 27, 2012 9:27pm Jun 27, 2012 9:27pm
Quoting bluesteele
Hey Hugh,

This is an old thread might have something of value for you or others who are
interested..

1000 or so replies on it....for whatever thats worth????

http://www.forexfactory.com/showthread.php?t=44759
Thanks but it's not the actual ma cross that we are trading, they are there just for direction.
  • #29
  • Jun 27, 2012 9:50pm Jun 27, 2012 9:50pm
Quoting Hugh Briss
Er, it's an end of day system, no hourly charts involved.
That WAS the point.
"Could be a little less stressful than hammering away at the hourly charts."

You don't take in extraneous information very well do you.
When the Joker is in the deck.. fear not and play it well
  • #30
  • Jun 27, 2012 9:52pm Jun 27, 2012 9:52pm
Quoting Hugh Briss
Thanks but it's not the actual ma cross that we are trading, they are there just for direction.

What's WRONG with you.

You have to be the hero ??
When the Joker is in the deck.. fear not and play it well
  • #31
  • Jun 28, 2012 12:24am Jun 28, 2012 12:24am
Quoting Slim Buffett
What's WRONG with you.

You have to be the hero ??
What? Ignored.
  • #32
  • Jun 28, 2012 1:44am Jun 28, 2012 1:44am
Quoting Hugh Briss
What? Ignored.
Good for you Hugh...
  • #33
  • Jun 28, 2012 2:07am Jun 28, 2012 2:07am
Quoting Sjr
Good for you Hugh...
Thanks mate.
  • #34
  • Jun 28, 2012 2:11am Jun 28, 2012 2:11am
Nice trade
  • #35
  • Jun 28, 2012 5:35am Jun 28, 2012 5:35am
Hi Hugh,

I made two live trades with EU and EJ last night on Oanda. EJ is currently +50 pips and EU is +25 pips. I made small lot size trades to be cautious with a new strategy, but there were some other pairs that could have been traded, as well.

Just to protect myself, I have moved my SL to BE+1 on both pairs. I know moving the SL is not in the rules, but I hate to see a winning position end up a loser.

When I am trading multiple pairs simultaneously, I like to view the group as a whole, and generally set a basket goal. When I reach that goal, I will close out the live trades.

Thanks for sharing...I am fond of breakout trades.
  • #36
  • Jun 28, 2012 5:44am Jun 28, 2012 5:44am
Quoting Hugh Briss
What? Ignored.
Me too.

Hugh, many thanks for your continuing to push for strategies that will work for someone's time allotment, ie short term, long term. I recently switched demos to Oanda and their close of day is my late afternoon - perfect for me. I still trade the D/1H stochs method but wanted something that I could set up and then get a good night's sleep.

Q. - when do you sleep? Thanks again, p.
  • #37
  • Jun 28, 2012 5:53am Jun 28, 2012 5:53am
Quoting Bobcat2
Hi Hugh,

I made two live trades with EU and EJ last night on Oanda. EJ is currently +50 pips and EU is +25 pips. I made small lot size trades to be cautious with a new strategy, but there were some other pairs that could have been traded, as well.

Just to protect myself, I have moved my SL to BE+1 on both pairs. I know moving the SL is not in the rules, but I hate to see a winning position end up a loser.

When I am trading multiple pairs simultaneously, I like to view the group as a whole, and generally set a basket goal. When I reach that...
Nice one, I was just going to post that the EJ trade would have worked ok so far but be careful, the afternoon EU meeting could change everything in a flash. Also be careful of taking profit too soon. If you're risking 100 pips on a trade you need to get sufficient reward out of every trade to pay for your losses and leave you some profit left.
  • #38
  • Jun 28, 2012 5:55am Jun 28, 2012 5:55am
Quoting piprac
Me too.

Hugh, many thanks for your continuing to push for strategies that will work for someone's time allotment, ie short term, long term. I recently switched demos to Oanda and their close of day is my late afternoon - perfect for me. I still trade the D/1H stochs method but wanted something that I could set up and then get a good night's sleep.

Q. - when do you sleep? Thanks again, p.
No worries, I keep getting these ideas so I post them and sometimes they are good and sometimes they are not.

Sleep is for wimps!
  • #39
  • Jun 28, 2012 12:22pm Jun 28, 2012 12:22pm
Here's euraud, should be ok to place a pending order now, not sure it will trigger tomorrow anyway.
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  • #40
  • Jun 28, 2012 12:24pm Jun 28, 2012 12:24pm
Hugh,

What advantage is there to wait for a daily candle to be a contrarian candle running opposite to the trend? After all, in a downtrend, we are simply trading a breakout making a new low of the contrarian candle. Yes, it makes sense to trade with the MA trend, but why must there be a contrarian candle? It would seem ANY candle would work...be it green (up) or red (down).

I'm guessing the contrarian candle represents a retest of the price action direction and protects our pending trade if price is making a reversal?

Good trading!
BC2
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