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  • #1,221
  • Edited 4:49am Jul 11, 2012 4:37am | Edited 4:49am
Quoting Paulus
yesterday was a win in case there is ny dout

The actual sequence of events was

1t st up was invalid as stoch was over 50

when then broke the low of EU session so we look for shorts

Price then came back up into the EU range so we look for longs

We then had a valid signal

P
Hi Paulus, might need to tweak the rules in post #6. I think most wouldn't have taken a long yesterday because price didn't breach the EU session high before the long signal you've indicated. In the last chart of post #6, you show an EU range break south so looking for shorts, but then price returns to the EU range and you're still looking for a short, not a long as you've posted above.

No way meant as a criticism, just keen for everyone to be completely clear on setups - it's a great system.
  • #1,222
  • Jul 11, 2012 5:19am Jul 11, 2012 5:19am
Quoting Paulus
yesterday was a win in case there is ny dout

The actual sequence of events was

1t st up was invalid as stoch was over 50

when then broke the low of EU session so we look for shorts

Price then came back up into the EU range so we look for longs

We then had a valid signal

P
I took the short signal after the low of the EU was broken. So it was a loss for me. Had not seen the information in this system about price coming back into the range.
  • #1,223
  • Jul 11, 2012 7:49am Jul 11, 2012 7:49am
...depending on where you set the stoploss. 100% by the current rules might have knocked you out for -5%.
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  • #1,224
  • Jul 11, 2012 8:41am Jul 11, 2012 8:41am
Quoting sidefx
...depending on where you set the stoploss. 100% by the current rules might have knocked you out for -5%.
Hi Sidefx, the main problem I see with such a SL is that it created a TP of over 20 and the range for the previous few hours was only around 20 so now you need a breakout for your trade to perform, that's a big difference to trading a retracement which this method is based on. Paulus has always kept his stops fairly tight and this makes sense, this method works best on relatively quick trades, it's about retracement on 1 min charts, if the trade goes on for too long then it becomes something different. If you need your trade to do too much work in a confined range then you increase the chance of failure.
  • #1,225
  • Jul 11, 2012 8:59am Jul 11, 2012 8:59am
Quoting strada
Hi Sidefx, the main problem I see with such a SL is that it created a TP of over 20 and the range for the previous few hours was only around 20 so now you need a breakout for your trade to perform, that's a big difference to trading a retracement which this method is based on. Paulus has always kept his stops fairly tight and this makes sense, this method works best on relatively quick trades, it's about retracement on 1 min charts, if the trade goes on for too long then it becomes something different. If you need your trade to do too much work...
Agreed. It's a -5% day unless you used discretion on the stop, which Paulus has done in the past.
  • #1,226
  • Jul 12, 2012 12:59am Jul 12, 2012 12:59am
My entry candle was the same

The low of the swing low was 1.22564

I have said in past I always round down to the 4th digest so that would be
1.2256

Less 1-2 pips ..My SL yesterday was 1.2255

Price at X went to 1.22557

And I hit my TP

Dont forget I use SB company charts are slightly differnt

P
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  • #1,227
  • Jul 12, 2012 3:47am Jul 12, 2012 3:47am
Quoting Paulus
My entry candle was the same

The low of the swing low was 1.22564

I have said in past I always round down to the 4th digest so that would be
1.2256

Less 1-2 pips ..My SL yesterday was 1.2255

Price at X went to 1.22557

And I hit my TP

Dont forget I use SB company charts are slightly differnt

P

Dear Paulus
What do you mean by SB company charts? Thanks
  • #1,228
  • Jul 12, 2012 3:55am Jul 12, 2012 3:55am
Quoting Paulus
Dont forget I use SB company charts are slightly differnt
I use spreadbetting for execution but an MT4 chart for setups - so, you get the signal from your MT4 chart and modify your entry/SL and exit prices to fit your SB chart...is that right?
  • #1,229
  • Jul 12, 2012 5:53am Jul 12, 2012 5:53am
Just another thought, nothing fancy.

Look to take your trade outside the band, its no holy grail, you'll miss some trade and most definitely lose some.
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keep it movin'
  • #1,230
  • Jul 12, 2012 6:33am Jul 12, 2012 6:33am
Hi Paulus,

you seem to have profit and loss levels and % on one of you charts that look like fib levels, is this an idicator or did you draw them manually....or is this s feature on MT4 that i'm not aware of....?

Regards
Paul
  • #1,231
  • Jul 12, 2012 9:45am Jul 12, 2012 9:45am
Good day evry1!
I am very new here, I av been taking my time to study this thread from beginning but at the moments I am still far behind around page 8 cos I want to av a very good understanding of the system b4 usage. So I decided to try it out today though I am not too sure if my settings were correct. The chart below shows the details of how I placed the trade. D challenge I had was how to detect the right price for SL and I only had to use 1:2 of MM hence I wasn’t to sure but I ended up a winner with +15pips target.
Chart below for comments please..

Green horizontal line for sl @ 1.22290
red vertical and horizontal lines for entry @ 1.22213
blue horizontal line for tp @ 1.22055


I had wanted to enter from the first orange vertical line but I noticed the stoch was below 50 so I had to wait for the right one.


Thanks
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  • #1,232
  • Jul 12, 2012 11:03am Jul 12, 2012 11:03am
Today I saw this as a Short.
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  • #1,233
  • Jul 12, 2012 11:46am Jul 12, 2012 11:46am
Quoting kola8701
Just another thought, nothing fancy.

Look to take your trade outside the band, its no holy grail, you'll miss some trade and most definitely lose some.
The tma is a good indi to add to this system, particularly in ranging market.
Read extreme tma thread
Vandag is die dag.....
  • #1,234
  • Jul 12, 2012 3:40pm Jul 12, 2012 3:40pm
Quoting EllisEdi
This ea is for educational and analysis purposes only ...

I like this system. Last weekend I wrote this EA. It is a work in progress. It started off as fully customizable (including indicator values) but i have trimmed down the cutomizable variables to a manageable number.
Thanks for this Mark but I've had it on a demo account and it hasn't taken a trade all week - am I missing something? No errors, nothing showing up in the logs. I have set Make Trade = true...
  • #1,235
  • Jul 13, 2012 3:12am Jul 13, 2012 3:12am
Quoting sidefx
-5% today.
Why?
You take the entry at GMT 7.36?
The stoch was under 50
  • #1,236
  • Jul 13, 2012 3:13am Jul 13, 2012 3:13am
Quoting Fame of me
Why?
You take the entry at GMT 7.36?
The stoch was under 50
Yes, my mistake invalid signal. I've deleted the post.
  • #1,237
  • Jul 13, 2012 3:13am Jul 13, 2012 3:13am
Quoting sidefx
-5% today.
Based on the system I have had no winners for the last 10 trading days

-50%
  • #1,238
  • Jul 13, 2012 3:24am Jul 13, 2012 3:24am
Quoting Rahimseven
Based on the system I have had no winners for the last 10 trading days

-50%
A small variation in broker feed makes a large difference to the win rate it seems.
  • #1,239
  • Jul 13, 2012 8:20am Jul 13, 2012 8:20am
Quoting Rahimseven
Based on the system I have had no winners for the last 10 trading days

-50%
After 10 losses you should only be down 40%

oo7_ts
  • #1,240
  • Jul 13, 2012 9:21am Jul 13, 2012 9:21am
Quoting oo7_ts
After 10 losses you should only be down 40%

oo7_ts
ok 40%
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