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2 Minutes 2 Trades

  • #41
  • Jul 2, 2012 2:41pm Jul 2, 2012 2:41pm
Thanks. That was not confusing at all. I understood it 100%. As I was reading it, I was following the bid and ask lines on my chart so I could understand what you are saying.

Thanks for explaining.

Quoting Jpr
Ok here goes (it's quite hard to explain).

Basically it's to do with the way the candles are drawn on the chart. As you know there are two prices quoted, the bid and ask.

The candles highs, lows, opens and closes as shown on the chart are always drawn using the low price of the spread.

When you sell, then the sell line appears at the lowest price of the spread, however the actual price at that time is the higher price of the spread (hence why you are 'down' as soon as you place a trade).

If the SL was placed only 0.4 pips above the last...
  • #42
  • Jul 2, 2012 2:44pm Jul 2, 2012 2:44pm
Quoting Percentage
Thanks for the chart and explanation. My entry would have been at the close of the candle that is one candle after what you have marked on your chart.

Will go back and double check to see if I missed calculated something for the entry rules. Even with being one candle after you, my trade was stopped out also.
I think you're right actually. The arrow should have been on the candle directly above the first light red bar on the MACD.
  • #43
  • Edited 2:45pm Jul 2, 2012 2:44pm | Edited 2:45pm
This is completely off subject but geez...how many post must one make before they are no longer a Junior Member.

I've got over 10 post since joining this forum yesterday and I'm still a Junior Member and all of my post still have to be moderated.

Not a big deal now I guess but it's frustrating when I'm trying to post a live chart because by the time my post is moderated my chart is in hindsight at that point.

Oh well...I will keep pushing forward.

Edit: As soon as I posted this comment, I became a Member...how funny!
  • #44
  • Jul 2, 2012 2:47pm Jul 2, 2012 2:47pm
Perfect. I was not against the fact that I could have been wrong so thanks for clearing that up.

Are you trading live Jpr or demo? Sorry if this has already been asked to you in Paulus' orginal thread.

Quoting Jpr
I think you're right actually. The arrow should have been on the candle directly above the first light red bar on the MACD.
  • #45
  • Jul 2, 2012 2:49pm Jul 2, 2012 2:49pm
Quoting Percentage
Perfect. I was not against the fact that I could have been wrong so thanks for clearing that up.

Are you trading live Jpr or demo? Sorry if this has already been asked to you in Paulus' orginal thread.
Live.
  • #46
  • Jul 2, 2012 3:04pm Jul 2, 2012 3:04pm
Okay.

Quoting Jpr
Live.
  • #47
  • Jul 2, 2012 3:12pm Jul 2, 2012 3:12pm
I have another question (just trying to be successful and reach my goals so I ask questions) about a possible situation that I'm not sure if it has come up yet but I will bring it up.

It will only affect those who trade with a US broker because you can't hedge (actually you can but I'm sure you have figured that out by now) your trades.

My question is has a situation happened where we get in the trade from the Frankfurt Open and then that trade is still open when the London Open trade presents itself? If the trades are not in the same direction (both long or both short) those trading with a US broker won't be able to enter the London trade because you can't hedge.

Any suggestions on what to do in a situation like this? Each individual has to make his or her own choices but I wanted to see if this has happened before and if so how did people handle it.

Of course if the trades are in the same direction there is no problem. Only when they are in opposite directions does this become an issue and only for those with a US broker.
  • #48
  • Jul 3, 2012 1:23am Jul 3, 2012 1:23am
There was a valid entry at the end of the 7:01 bar this morning. It was a loss.

JPR
  • #49
  • Jul 3, 2012 1:25am Jul 3, 2012 1:25am
Mine was at 7:08. A loss too......
  • #50
  • Jul 3, 2012 1:37am Jul 3, 2012 1:37am
Took 7:01. Stopped out
G
  • #51
  • Jul 3, 2012 2:12am Jul 3, 2012 2:12am
I had a short entry for the Frankfurt Open at the close of the 12:08am PST candle, which resulted in a loss.

The entry for the London Open just got triggered at the close of the 12:03am PST candle.

Entry for the London trade was at 1.2600 with the stop loss at 1.2594 (spread + buffer...even after Jpr's explanation to me earlier.). The take profit is at 1.2618 which at the moment of writing this post it has yet to be reached (almost stopped out though).
  • #52
  • Jul 3, 2012 2:18am Jul 3, 2012 2:18am
Loss for London
  • #53
  • Jul 3, 2012 4:20am Jul 3, 2012 4:20am
Quoting Caillou
Loss for London
Yep 2 losses today.

Results so far:

Frankfurt - WL
London - LL

Attached Image (click to enlarge)
Click to Enlarge Name: eu 3.gif Size: 18 KB
  • #54
  • Jul 3, 2012 6:41am Jul 3, 2012 6:41am
Quoting Jpr
Yep 2 losses today.

Results so far:

Frankfurt - WL
London - LL

Attachment
Hi Jpr,

You have an interesting strategy here.

Do you notice the candle you are entering has broke the swing low of EURO session? So you should be looking to short instead of long?
  • #55
  • Jul 3, 2012 6:52am Jul 3, 2012 6:52am
Quoting lithium1
Hi Jpr,

You have an interesting strategy here.

Do you notice the candle you are entering has broke the swing low of EURO session? So you should be looking to short instead of long?
I entered the candle after the one you are talking about. However, it only pierced the low and didn't close below it (showing if anything there was some support there!).

Anyway I am not taking into account any bias including highs and lows of sessions. It is the first signal no matter what.

This strategy is based on the fact that at market opens there is often large volume which enters causing the trade to either hit TP or SL quite quickly. This morning it was the SL.

JPR
  • #56
  • Jul 3, 2012 7:20am Jul 3, 2012 7:20am
Thanks for the reply.

This is a nice strategy to trade since it limit us to trade max only 2 trades per day. It prevents overtrade. My biggest problem.

I'm thinking to tweak it a bit with money management. 1:3 ratio seems a bit difficult to achieve. So I will split into 2 positions for each entry. Take profit on 1 position at 1x stop loss distance, hold only the 2nd position till 3x.

This should put more weight to capital preservation, but of course reduce my profits when I win.

Anyway, this is just me, I feel very bad if I lose money, so maybe this will increase my winning rates abit to keep my emotions in control.
  • #57
  • Jul 3, 2012 7:25am Jul 3, 2012 7:25am
Quoting lithium1
Thanks for the reply.

This is a nice strategy to trade since it limit us to trade max only 2 trades per day. It prevents overtrade. My biggest problem.

I'm thinking to tweak it a bit with money management. 1:3 ratio seems a bit difficult to achieve. So I will split into 2 positions for each entry. Take profit on 1 position at 1x stop loss distance, hold only the 2nd position till 3x.

This should put more weight to capital preservation, but of course reduce my profits when I win.

Anyway, this is just me, I feel very bad if I lose money,...
Ok cool, keep us updated with your results.
  • #58
  • Jul 3, 2012 11:21am Jul 3, 2012 11:21am
Yes, to day was a losing day for me also on both Frankfurt and London.

Quoting Caillou
Loss for London
  • #59
  • Jul 4, 2012 1:14am Jul 4, 2012 1:14am
My internet is acting a little weird right now so I'm going to post this real quick before I get disconnected again.

Entry @ 1.2590
Stop Loss @ 1.2585
Take Profit @ 1.2605
Attached Image (click to enlarge)
Click to Enlarge Name: July3 Frankfurt.png Size: 220 KB
  • #60
  • Jul 4, 2012 1:21am Jul 4, 2012 1:21am
Quoting Percentage
My internet is acting a little weird right now so I'm going to post this real quick before I get disconnected again.

Entry @ 1.2590
Stop Loss @ 1.2585
Take Profit @ 1.2605
Entry @ 1.25922
SL @ 1.25868
TP @ 1.26084

Attached Image (click to enlarge)
Click to Enlarge Name: eu 4.gif Size: 15 KB
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