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Quicker and Dirtier EOD

  • #21
  • Jul 3, 2012 3:51pm Jul 3, 2012 3:51pm
Quoting California
An alternative approach, which is the only way I trade engulfing bars, is to enter on a retrace to the 38.2. This is a good way of increasing your reward:risk ratio. Your win rate goes down because some of these setups never turn around and move in the right direction. But total profitability goes up vs just entering at market on the close of a bar.
There's a system vendor who sells this method (believe it or not -for $2K!) with the use of..(for extra padding n hokery pokery)..bollinger bands, support resistance and stochastics - divergence.
  • #22
  • Jul 3, 2012 4:11pm Jul 3, 2012 4:11pm
Quoting Porkpie
There's a system vendor who sells this method (believe it or not -for $2K!) with the use of..(for extra padding n hokery pokery)..bollinger bands, support resistance and stochastics - divergence.
2k? And I just thought it up in the bath!

Seriously, I don't think there is much new in the world of systems, there can only be so many ways to enter a trend?
  • #23
  • Jul 3, 2012 4:17pm Jul 3, 2012 4:17pm
Hello

thank you for sharing this..

Can we have some more pictures from the charts ? So we get the rules perfectly....

it's easier for those like me who does not speak well english.

Thank you.
  • #24
  • Jul 3, 2012 7:04pm Jul 3, 2012 7:04pm
So.... Per the ATR rule, today will not be a trading day correct?
  • #25
  • Jul 3, 2012 10:37pm Jul 3, 2012 10:37pm
Quoting Omidak
Hello

thank you for sharing this..

Can we have some more pictures from the charts ? So we get the rules perfectly....

it's easier for those like me who does not speak well english.

Thank you.
I will try to post more today.
  • #26
  • Jul 3, 2012 10:37pm Jul 3, 2012 10:37pm
Quoting prof8t
So.... Per the ATR rule, today will not be a trading day correct?
On which pair?
  • #27
  • Jul 4, 2012 12:49am Jul 4, 2012 12:49am
Quoting Hugh Briss
You know I get system ideas all the time and you know I like to share them.

You seem to be a really creative and sharing guy. I like it, and for that my friend time to join the 10+V club....
  • #28
  • Jul 4, 2012 1:01am Jul 4, 2012 1:01am
Quoting kostas1
You seem to be a really creative and sharing guy. I like it, and for that my friend time to join the 10+V club....
Thank you very much
  • #29
  • Jul 4, 2012 1:11am Jul 4, 2012 1:11am
Quoting Omidak
Hello

thank you for sharing this..

Can we have some more pictures from the charts ? So we get the rules perfectly....

it's easier for those like me who does not speak well english.

Thank you.
Sorry, not had a chance to look through this morning yet.

Usdcad already hit the 38.2 level so I have placed the pending order already. The body of yesterdays candle is almost exactly the same as 75% of the atr so it's a valid trade.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad fib trade 4th july 2012.gif Size: 19 KB
  • #30
  • Jul 4, 2012 1:14am Jul 4, 2012 1:14am
Here's gbpcad.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad fib trade 4th july 2012.gif Size: 24 KB
  • #31
  • Jul 4, 2012 1:16am Jul 4, 2012 1:16am
Audjpy
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy fib trade 4th july 2012.gif Size: 16 KB
  • #32
  • Jul 4, 2012 1:20am Jul 4, 2012 1:20am
Cadjpy. I'll update at the end of the day with the results.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy fib trade 4th july 2012.gif Size: 19 KB
  • #33
  • Jul 4, 2012 7:27am Jul 4, 2012 7:27am
Quoting Hugh Briss
On which pair?
EUR/USD
  • #34
  • Jul 4, 2012 12:12pm Jul 4, 2012 12:12pm
Bit of a quiet day today being the 4th of July so not much happened. Lost 20 pips on usdcad but nothing else opened. Hopefully more will happen tomorrow.
  • #35
  • Edited 12:49pm Jul 4, 2012 12:37pm | Edited 12:49pm
Quoting Hugh Briss
Bit of a quiet day today being the 4th of July so not much happened. Lost 20 pips on usdcad but nothing else opened. Hopefully more will happen tomorrow.
I am not sure about strategy you have explained.You are saying body of the daily candle range should be 75% or higher of 20(ATR).With that criteria you will get very few candles to trade.Most of the candle which statisfy that criteria are pretty huge candle.
Why you are not comparing 75% ATR with daily candle high low?

In the last couple of trade you mentioned For example CADJPY trade body of the candle is not 75% or higher of 20(ATR) then how you took that trade same hold goods for USDCAD?

For example USDCAD 75%of ATR 20 is coming 60 pips.But in your case its showing 49.I am not sure.I am using trading point.

Regards,
Bedayan.
Attached File(s)
File Type: doc Doc1.doc   37 KB | 369 downloads
  • #36
  • Jul 4, 2012 1:29pm Jul 4, 2012 1:29pm
Quoting bedayan
I am not sure about strategy you have explained.You are saying body of the daily candle range should be 75% or higher of 20(ATR).With that criteria you will get very few candles to trade.Most of the candle which statisfy that criteria are pretty huge candle.
Why you are not comparing 75% ATR with daily candle high low?

In the last couple of trade you mentioned For example CADJPY trade body of the candle is not 75% or higher of 20(ATR) then how you took that trade same hold goods for USDCAD?

For example USDCAD 75%of ATR 20 is coming 60 pips.But...
Yes, I don't want lots of trades just good ones. I think our brokers must have different closing times, both the cad trades were valid today for me.
  • #37
  • Jul 4, 2012 5:14pm Jul 4, 2012 5:14pm
Hi Hugh

How do you get the ATR indicator to show the 75% pip amount? Mine just shows the full atr.

Thanks

Mark
  • #38
  • Jul 4, 2012 9:15pm Jul 4, 2012 9:15pm
Here is attached a tool to help to handle the strategy.

I've developped it for another Hugh's thread but it should work just fine here.

1/ Set and apply the EA on the chart you want to trade

2/ Apply the Fibo where you want it to be managed

3/ When the fibo is at the right place, then and only then, name it BUY (for a Long setup) or SELL (for a short setup)

The EA new default settings should follow the strategy.

More details for the settings start here with the very 1st version : http://www.forexfactory.com/showthre...84#post5498784

Hope that will help ...

FerruFx
Attached File(s)
File Type: ex4 FibonacciTradeManager_v6_QDEOD.ex4   20 KB | 872 downloads
MT4/MT5 EAs/Indicators/Alerts coder
  • #39
  • Jul 4, 2012 10:26pm Jul 4, 2012 10:26pm
  •  Ainks
  • | Joined Feb 2010 | Status: Just trade for money... | 9 Posts
Another system from Mr. HB

I've take a look daily EU chart for the last 6 months and 1 thing I want to ask..
I think (sorry i'm just a newbie in forex) we can watch the price action around fib level 38,2 (i use M15 for this) and if we sure the trend is continuous.. (bounce at 38,2 level) we can safely buy/sell and place SL 20-50 pips above 38,2 level.. Maybe this will be considered as aggressive trade entry

Anyway.. I enjoy all your systems share.. thank you for share them with us.. I can say you are not Mr Bollinger fans
  • #40
  • Jul 4, 2012 10:38pm Jul 4, 2012 10:38pm
Quoting HxMark
Hi Hugh

How do you get the ATR indicator to show the 75% pip amount? Mine just shows the full atr.

Thanks

Mark
Hi, set the multiplier to 0.75
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