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Quick and Dirty EOD

  • #161
  • Jul 15, 2012 3:32pm Jul 15, 2012 3:32pm
Down on the monthly and daily. How's this look, Hugh?
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  • #162
  • Jul 15, 2012 5:48pm Jul 15, 2012 5:48pm
I like the concept; simple and concise; am going to give it a shot.
  • #163
  • Jul 15, 2012 9:35pm Jul 15, 2012 9:35pm
Quoting ChicagoRob
Down on the monthly and daily. How's this look, Hugh?
Looks like a good setup Rob. I'm already in E/U from a few days ago. That last up bar.
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  • #164
  • Jul 15, 2012 10:14pm Jul 15, 2012 10:14pm
Quoting ChicagoRob
Down on the monthly and daily. How's this look, Hugh?
Looks a good one to me. Plenty of room for it to drop too.
  • #165
  • Jul 15, 2012 10:15pm Jul 15, 2012 10:15pm
Quoting bluedog23
I like the concept; simple and concise; am going to give it a shot.
Glad you like it, please post any trades you take.
  • #166
  • Jul 15, 2012 10:15pm Jul 15, 2012 10:15pm
Quoting spyderman
Looks like a good setup Rob. I'm already in E/U from a few days ago. That last up bar.
Maybe a good opportunity to stack another trade on top?
  • #167
  • Jul 15, 2012 10:25pm Jul 15, 2012 10:25pm
Quoting Hugh Briss
Maybe a good opportunity to stack another trade on top?

Yeah I thought of that. Just really close to my existing. But then again, guess it wouldn't be by the time it triggered the pending.
  • #168
  • Jul 16, 2012 2:25am Jul 16, 2012 2:25am
Quoting spyderman
Yeah I thought of that. Just really close to my existing. But then again, guess it wouldn't be by the time it triggered the pending.
If the first one is at break even then it should be easy on the nerves.
  • #169
  • Jul 16, 2012 2:33am Jul 16, 2012 2:33am
Hi, Hugh

I'd like to present my pending orders of the day :

EUR/USD Short @ 1.2160
EUR/JPY Short @ 96.40
USD/CHF Long @ 0.9875
EUR/AUD Short @ 1.1930
EUR/NZD Short @ 1.5330

Would you agree ?

Regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #170
  • Jul 16, 2012 2:46am Jul 16, 2012 2:46am
Quoting BLACKFEET
Hi, Hugh

I'd like to present my pending orders of the day :

EUR/USD Short @ 1.2160
EUR/JPY Short @ 96.40
USD/CHF Long @ 0.9875
EUR/AUD Short @ 1.1930
EUR/NZD Short @ 1.5330

Would you agree ?

Regards

BBF
Seems fine to me but don't forget you've got a lot of correlated pairs there so your risk is multiplied. Eurusd and usdchf are almost exact mirrors right now and the others are obviously euro based. So yes, technically fine but control your overall risk.
  • #171
  • Jul 19, 2012 5:53pm Jul 19, 2012 5:53pm
Just a quick update. Loving the system so far.
Since July 2 I'm up 11.43% on a live account (16 total closed orders, 8 for gain, 8 for loss.).
Have another 12% of floating profit.

Thanks again Hugh.
  • #172
  • Jul 19, 2012 8:27pm Jul 19, 2012 8:27pm
I am also doing well with this style of trading. I did some backtesting on E/U using the rules on the first post and averaged 60 pips/month over 17 months. I was trying to think of a way to get a lower risk entry, so I decided to enter on the open of the next candle instead of waiting for the breakout of the high/low. This may generate more losses but they will be smaller. I have only backtested on 4 months of data so far but the average is 190 pips/month with average stop loss of only 31 pips. I will continue with the backtest and post my results when finished. I started demo trading this new entry a couple days ago with 18 currency pairs, doubt that I would trade that many on a live account but I want to see how this translates across different pairs. Thanks Hugh! I've been a fan of your threads here and find them to be creative and fun to follow.
  • #173
  • Jul 19, 2012 9:36pm Jul 19, 2012 9:36pm
Quoting Wendavol
I was trying to think of a way to get a lower risk entry, so I decided to enter on the open of the next candle instead of waiting for the breakout of the high/low.
The open of the next candle after what? Do you mean after the signal candle in the opposite direction of the monthly trend.

IMO a small sized stop doesn't necessarily equate to a low risk entry. If there's no price action (like the break of a high/low) to justify an entry, it can become a random entry at high risk.

Just my thoughts
  • #174
  • Jul 19, 2012 10:44pm Jul 19, 2012 10:44pm
Quoting spyderman
Just a quick update. Loving the system so far.
Since July 2 I'm up 11.43% on a live account (16 total closed orders, 8 for gain, 8 for loss.).
Have another 12% of floating profit.

Thanks again Hugh.
No problem, I'm still trading this too although the thread is quiet. You can lead a horse to water...
  • #175
  • Jul 19, 2012 10:45pm Jul 19, 2012 10:45pm
Quoting Wendavol
I am also doing well with this style of trading. I did some backtesting on E/U using the rules on the first post and averaged 60 pips/month over 17 months. I was trying to think of a way to get a lower risk entry, so I decided to enter on the open of the next candle instead of waiting for the breakout of the high/low. This may generate more losses but they will be smaller. I have only backtested on 4 months of data so far but the average is 190 pips/month with average stop loss of only 31 pips. I will continue with the backtest and post my results...
Thanks. That sounds like an interesting tweak. Could you post some charts with examples?
  • #176
  • Jul 20, 2012 3:21am Jul 20, 2012 3:21am
Quoting Hugh Briss
No problem, I'm still trading this too although the thread is quiet. You can lead a horse to water...
I check in for updates regularly.

I think many read the thread but because you came up with such a simple idea there are not many questions.
  • #177
  • Jul 20, 2012 3:37am Jul 20, 2012 3:37am
Quoting normtold
I check in for updates regularly.

I think many read the thread but because you came up with such a simple idea there are not many questions.
That's probably true.
  • #178
  • Jul 20, 2012 6:27am Jul 20, 2012 6:27am
Quoting Hugh Briss
That's probably true.

Not enough indicators on the charts. Some like to be bedazzled by the twinkling lights.
  • #179
  • Jul 20, 2012 6:51am Jul 20, 2012 6:51am
Hi HB,

First time in my forex exp. i am +200 pips in one week .
  • #180
  • Jul 20, 2012 9:16am Jul 20, 2012 9:16am
Quoting spyderman
Not enough indicators on the charts. Some like to be bedazzled by the twinkling lights.
Yeah, maybe we could add some filters and then get an ea?
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