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Quick and Dirty EOD

  • #261
  • Jul 24, 2012 11:20am Jul 24, 2012 11:20am
Hugh,

You said:

I like the fact that there are plenty of opportunities available though. It
seems that most days there is one pair or another setting up

Which pairs, or at least how many pairs are you following to get set ups most days?

Thanks.
  • #262
  • Jul 24, 2012 12:14pm Jul 24, 2012 12:14pm
Quoting Realus
Hugh,

You said:

I like the fact that there are plenty of opportunities available though. It
seems that most days there is one pair or another setting up

Which pairs, or at least how many pairs are you following to get set ups most days?

Thanks.
Don't take that too literally! There are plenty of setups but maybe not every day. I watch all available pairs. The only pairs I am not watching at the moment are chf pairs because they are just a mirror of eur pairs.
  • #263
  • Jul 24, 2012 12:42pm Jul 24, 2012 12:42pm
the patience thingy paid off - 3 stop orders opened in the last 45 minutes - $/chf, E/Y, & A/$. I cancelled the other 3 to keep risk limited.
  • #264
  • Jul 24, 2012 7:19pm Jul 24, 2012 7:19pm
Quoting piprac
the patience thingy paid off - 3 stop orders opened in the last 45 minutes - $/chf, E/Y, & A/$. I cancelled the other 3 to keep risk limited.

These don't appear to be valid entries based off of the criteria as listed in post one. None of these entries came after a counter trend day.
  • #265
  • Jul 24, 2012 9:12pm Jul 24, 2012 9:12pm
Quoting prof8t
These don't appear to be valid entries based off of the criteria as listed in post one. None of these entries came after a counter trend day.
I don't see set ups with those pairs either. Maybe piprac's broker's daily candle ends at a different time?
  • #266
  • Jul 25, 2012 6:45am Jul 25, 2012 6:45am
Quoting Wendavol
I don't see set ups with those pairs either. Maybe piprac's broker's daily candle ends at a different time?
My broker's rolloever is 23:00 cdt/US but the trades weren't triggered until the following morning. Update - E/$ SL hit, the other two in negative pips. I was slightly in profit when I went to bed last night but London killed me. Not sure if I will let trades stay open overnight as this has always been a problem for me with whatever strategy I was testing. p
  • #267
  • Jul 25, 2012 7:36am Jul 25, 2012 7:36am
Quoting piprac
My broker's rolloever is 23:00 cdt/US but the trades weren't triggered until the following morning. Update - E/$ SL hit, the other two in negative pips. I was slightly in profit when I went to bed last night but London killed me. Not sure if I will let trades stay open overnight as this has always been a problem for me with whatever strategy I was testing. p

Yeah it's tough being patient when you get some negative movement. With a longer term strategy ya just have to hang tough though. Our s/l's should be able to ride out most intraday movement. They're there mostly for change of longer term change of trend.

All my positions (14 open) retraced last night but none stopped out. I'm still up 500 pips across all pairs.
  • #268
  • Jul 25, 2012 7:43am Jul 25, 2012 7:43am
Quoting spyderman
Yeah it's tough being patient when you get some negative movement. With a longer term strategy ya just have to hang tough though. Our s/l's should be able to ride out most intraday movement. They're there mostly for change of longer term change of trend.

All my positions (14 open) retraced last night but none stopped out. I'm still up 500 pips across all pairs.
Hi Spyderman,

how much you put stop loss?
  • #269
  • Jul 25, 2012 7:53am Jul 25, 2012 7:53am
Quoting umpats
Hi Spyderman,

how much you put stop loss?
My original orders (most of these) were as Hugh suggested, at the high/low of the signal bar or 100 pips, whichever was less. TP was 2 times that.

On my new orders I'm switching to using the ATR (20) x1 for my stop.

So logic would indicate that intraday movement wouldn't take out a 1 day ATR stop.
  • #270
  • Jul 25, 2012 7:58am Jul 25, 2012 7:58am
Quoting spyderman
My original orders (most of these) were as Hugh suggested, at the high/low of the signal bar or 100 pips, whichever was less. TP was 2 times that.

On my new orders I'm switching to using the ATR (20) x1 for my stop.

So logic would indicate that intraday movement wouldn't take out a 1 day ATR stop.
Is your TP 2 X ATR(20)?
  • #271
  • Jul 25, 2012 8:03am Jul 25, 2012 8:03am
Quoting spyderman
My original orders (most of these) were as Hugh suggested, at the high/low of the signal bar or 100 pips, whichever was less. TP was 2 times that.

On my new orders I'm switching to using the ATR (20) x1 for my stop.

So logic would indicate that intraday movement wouldn't take out a 1 day ATR stop.
Thanks Spyderman.

I put my sl is 600 so all my x/jpy are in loss with this. but still this week i am +180pips.
  • #272
  • Jul 25, 2012 8:13am Jul 25, 2012 8:13am
Quoting piprac
Is your TP 2 X ATR(20)?

Good question. Again, initially I was setting TP at s/l x2. Now I'm switching to a slightly different MM.

When price hits ATR x 2, I move 1/2 my position to BE and start trailing the other 1/2 behind price at about 30 pips. I'm hoping to let some winners run this way and leave 1/2 my positions at BE to develop in line with Graeme's "Equity Millipede" thread.

Just my personal MM, don't want to derail Hugh's original idea. I do know he was still undecided as to the best MM to use.
  • #273
  • Jul 25, 2012 8:19am Jul 25, 2012 8:19am
Quoting umpats
Thanks Spyderman.

I put my sl is 600 so all my x/jpy are in loss with this. but still this week i am +180pips.

Just remember guys. We're talking real pips here, not pipettes. We want to be on the same page here, especially those who may be new traders and not as familiar with "pipology"
  • #274
  • Jul 25, 2012 9:09am Jul 25, 2012 9:09am
Quoting spyderman
Just remember guys. We're talking real pips here, not pipettes. We want to be on the same page here, especially those who may be new traders and not as familiar with "pipology"
ok spyderman.

sl is 60 pips...
  • #275
  • Jul 25, 2012 9:32am Jul 25, 2012 9:32am
Quoting spyderman
Good question. Again, initially I was setting TP at s/l x2. Now I'm switching to a slightly different MM.

When price hits ATR x 2, I move 1/2 my position to BE and start trailing the other 1/2 behind price at about 30 pips. I'm hoping to let some winners run this way and leave 1/2 my positions at BE to develop in line with Graeme's "Equity Millipede" thread.

Just my personal MM, don't want to derail Hugh's original idea. I do know he was still undecided as to the best MM to use.
Yours sounds just fine
  • #276
  • Jul 25, 2012 9:45am Jul 25, 2012 9:45am
For what it's worth, here's a shot of my opens and pendings. Pendings are doubled up so that I can leave 1/2 at BE and trail the other.

Now if I had a Trade Manager EA that could split them for me that would save a ton of work.
Attached Image (click to enlarge)
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  • #277
  • Jul 25, 2012 10:15am Jul 25, 2012 10:15am
Quoting umpats
ok spyderman.

sl is 60 pips...



Now you put a smile on my face. When I read 600 I almost fell out of my chair! Now I get it...

Olu
If you think you can or cannot do it you are correct
  • #278
  • Jul 25, 2012 11:01am Jul 25, 2012 11:01am
Quoting Jcp
Here's a monthly that has pulled back per the approach I mentioned above on the daily. I personally treat setups like this on Monthly and Weekly as a bias for my shorter time frame approaches, much like you mentioned on your first page. It can be extremely profitable when you know there's a good chance of 500+ pips in the next month or two. Taking nibbles on these on the daily down to the hourly can secure several positions at break even.
Hello, just to follow up on my NZDUSD monthly post from the other day. The Daily has now crossed down and will be looking for a pullback to the EMAs for entry, based on Monthly bias. I also look on the shorter TFs, but that's likely not appropriate for this thread.
Attached Image (click to enlarge)
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  • #279
  • Jul 25, 2012 11:32am Jul 25, 2012 11:32am
Quoting Jcp
Hello, just to follow up on my NZDUSD monthly post from the other day. The Daily has now crossed down and will be looking for a pullback to the EMAs for entry, based on Monthly bias. I also look on the shorter TFs, but that's likely not appropriate for this thread.
There is also a 'quick and dirty' H&S pattern on the daily as well which has been broken to the downside. Waiting to sell the break of the upday today soooo makes sense. Well spotted JCP

Olu
If you think you can or cannot do it you are correct
  • #280
  • Jul 25, 2012 11:42am Jul 25, 2012 11:42am
Quoting Olu
There is also a 'quick and dirty' H&S pattern on the daily as well which has been broken to the downside. Waiting to sell the break of the upday today soooo makes sense. Well spotted JCP

Olu
Hey Olu,

Yes, that H&S looks ripe. We'll see what happens on the Daily, may or may not touch back. I've secured a position already on the short TF, but that may or may not survive.
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