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  • #7,961
  • Aug 2, 2012 4:04am Aug 2, 2012 4:04am
Quoting atgmer
Hi Dee50,

Can explain the pips column?
Is the B/E column meana you move stop to B/E after prices goes #pips in favour of the trade?
Is this only for the H1 trades?
Thanks.
The pips column is how many pips profit. Where you see 2 pips means price retraced to my stop which had moved to B/E+2
B/E column identifies point at which stop moved to B/E. This figure is based on a minimum 15 pips upto 50% of stop loss.
Stop column identifies size of stop loss. Figure is dynamic and stop is placed at nearest swing point upto a maximum of 50 pips.
Retrace column identifies how much price retraced beyond the entrypoint.
So far this is only for H1, I am continuing the analysis, it is time consuming and 30 trades are not enough to base anything on. I am also going to do this exercise for the 15 min chart.

But even with only 30 trades the information gained has been interesting.
Not one trade stopped out for a loss.
Only one trade retraced within 5 pips of my stop.
Only 4 trades initiated at market open 09:00
5 trades stopped out for B/E
Average profit is 41 pips (My time scale and Style)

Although this is time consuming I recommend that everyone do this because in doing this I also reviewed my trades in detail, i effectively replayed each trade more or less pip for pip. I review my trades each day normally but not to the same extent as this.

Hope it helps
Cut your Losers short and let your Winners run.
  • #7,962
  • Aug 2, 2012 4:15am Aug 2, 2012 4:15am
Hi Dee50,

Thanks for sharing these valuable info.
I will try to log down my own trades as well.
Thanks.
  • #7,963
  • Aug 2, 2012 5:00am Aug 2, 2012 5:00am
Quoting dee50
Although this is time consuming I recommend that everyone do this because in doing this I also reviewed my trades in detail, i effectively replayed each trade more or less pip for pip. I review my trades each day normally but not to the same extent as this.

Hope it helps
Its basically how I do back tests on any trading idea, nice one.
  • #7,964
  • Aug 2, 2012 5:34am Aug 2, 2012 5:34am
Quoting Vantage
Its basically how I do back tests on any trading idea, nice one.
Thanks.

I back test methods or ideas like this too. But incorporating this into my daily routine has been priceless, I am seeing things in the trades that I completely missed and it is providing me with more precise info, how effective my stop placement is, what sort of retracement should I suck up I was starting to feel queesy every time price retraced more than 7 pips but this has shown me that I do not need the travel sickness pills after all. Basically it has given me even more confidence in the system which means I am more relaxed, my decision making has improved etc.
Cut your Losers short and let your Winners run.
  • #7,965
  • Aug 2, 2012 5:42am Aug 2, 2012 5:42am
Quoting dee50
Basically it has given me even more confidence in the system which means I am more relaxed, my decision making has improved etc.
Which is why everyone should take the time to do the excercise. Trading SHOULD be dead boring, a failed trade so what, you can only get that from confidence in the method which comes from the initial homework.

Climbing off soap box now.
  • #7,966
  • Aug 2, 2012 7:11am Aug 2, 2012 7:11am
Quoting emmanuel7788
Hi,

my EU h1 trade done yesterday.

Anyone traded this pair, please post and share you trade chart all to learn how you made your trade entry and exit(s).
thanks.

Trade Well!
Just curious why you took this trade. What said to you "this is a good setup"? There is absolutely no doubt that it worked out well.
Cut your Losers short and let your Winners run.
  • #7,967
  • Aug 2, 2012 9:33am Aug 2, 2012 9:33am
Quoting dee50
Just curious why you took this trade. What said to you "this is a good setup"? There is absolutely no doubt that it worked out well.
see chart...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 1H1 1 Aug Trade notes .png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,968
  • Aug 2, 2012 10:48am Aug 2, 2012 10:48am
Quoting emmanuel7788
see chart...
Thank you, appreciate it. Interesting. I did not take this entry because the 3 previous bars following the pin bar were Dojis, the TDI cross was at 3 o clock almost flat, we were in a 30 pip range and the entry was in the middle of the range, the BBs were in a squeeze, we were just 10 pips from the 2300 and it was FOMC day.

Just goes to show if we all had the same vision wouldn´t the world be a boring place and if we all had my vision we would all be a lot poorer.

Nice call.
Cut your Losers short and let your Winners run.
  • #7,969
  • Edited 5:49pm Aug 2, 2012 5:20pm | Edited 5:49pm
Quoting dee50
Thank you, appreciate it. Interesting. I did not take this entry because the 3 previous bars following the pin bar were Dojis, the TDI cross was at 3 o clock almost flat, we were in a 30 pip range and the entry was in the middle of the range, the BBs were in a squeeze, we were just 10 pips from the 2300 and it was FOMC day.

Just goes to show if we all had the same vision wouldn´t the world be a boring place and if we all had my vision we would all be a lot poorer.

Nice call.

Hi Dee,

what I showed on the H1 chart is are just some of the things what I saw and can be used for decision to take that trade.
however, if I look at the chart and look for condtions not to take the trade I will also find a few.
what is important is to put weight on certain setup conditions and make decision base on that.

you mention FOMC which is also a decision making factor. trading news release is more speculative.

what I did not mention on the H1 chart is the S&R.
look at D and H4, the resistance region 1.2320 is quite obvious.
the TDI BB squeeze is an opportunity for breakout, but that will require something to cause abreakout.

we also need to read the market sentiments of USD by looking at all USD related pairs. we determine whether the market is pro-USD or anti-USD.

so final decision was that SELL was the better idea on Wed.
every trade we take has a cost to it, i.e. the initial SL aka 'R'.
once we decided to take the trade, conisder the 'R' gone from our books.
as traders we focus more on determinig and managing the exit(s).
managing the 1st exit is the SL and the other exit(s) is how much profits.
it is a mindset thing we muts train ourselvs to become traders.
Trading is afterall processes which we perform.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,970
  • Aug 2, 2012 9:12pm Aug 2, 2012 9:12pm
Just to reconfirm that the modified settings for GOLD is working, I placed a pending order.

The trade is executed with the SL and TP in place.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-03 Gold BS-EP.jpg Size: 234 KB
  • #7,971
  • Aug 3, 2012 2:38am Aug 3, 2012 2:38am
Quoting emmanuel7788
Hi Dee,

what I showed on the H1 chart is are just some of the things what I saw and can be used for decision to take that trade.
however, if I look at the chart and look for condtions not to take the trade I will also find a few.
what is important is to put weight on certain setup conditions and make decision base on that.

you mention FOMC which is also a decision making factor. trading news release is more speculative.

what I did not mention on the H1 chart is the S&R.
look at D and H4, the resistance region 1.2320 is quite obvious.
the...
Thanks again, great insight, great analysis, made me look again and you are absolutely right.
Cut your Losers short and let your Winners run.
  • #7,972
  • Aug 3, 2012 3:10am Aug 3, 2012 3:10am
Quoting Star178
Just to reconfirm that the modified settings for GOLD is working, I placed a pending order.

The trade is executed with the SL and TP in place.
i try in another MT4 platform, it works~

thanks so much!
  • #7,973
  • Aug 3, 2012 3:12am Aug 3, 2012 3:12am
Today's trade is on AUDJPY.

Enter on the breakout of the inside bar on H4 chart.

Hit 1st TP with 30 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-03 AUDJPY 1TP.jpg Size: 183 KB
  • #7,974
  • Aug 3, 2012 3:17am Aug 3, 2012 3:17am
Quoting xuflyeven
i try in another MT4 platform, it works~

thanks so much!
You are welcome.
  • #7,975
  • Aug 3, 2012 3:35am Aug 3, 2012 3:35am
Quoting emmanuel7788
Hi Dee,

what I showed on the H1 chart is are just some of the things what I saw and can be used for decision to take that trade.
however, if I look at the chart and look for condtions not to take the trade I will also find a few.
what is important is to put weight on certain setup conditions and make decision base on that.

you mention FOMC which is also a decision making factor. trading news release is more speculative.

what I did not mention on the H1 chart is the S&R.
look at D and H4, the resistance region 1.2320 is quite obvious.
the...
Attached Image (click to enlarge)
Click to Enlarge Name: 123.jpg Size: 153 KB


I entry a short. hoep to be revise!
My Point is :1. the Pa retracing to the 50.0Level
2. The 50.0Level is a resistance level, just look at the leftside of the chart.
  • #7,976
  • Aug 3, 2012 4:08am Aug 3, 2012 4:08am
long E/G just now,TDI cross ,PA above fibo 38.2 and MA60,and chart show H/H and H/L,the day chart also support,any one with me?
Attached Image (click to enlarge)
Click to Enlarge Name: 无标题.png Size: 52 KB
  • #7,977
  • Edited 6:00am Aug 3, 2012 4:55am | Edited 6:00am
Hi,
Took this H1 trade earlier now partial exit TP1 +44pips and BE trade.
There was very narrow range TOK 5H and nice momemtum abd price break above PAC.

Now manage exit for TP2 and wait for NFP later.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 3 AUG H1 trade 3-8-2012 5-48-26 PM.png Size: 22 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,978
  • Aug 3, 2012 4:58am Aug 3, 2012 4:58am
Quoting Star178
Just to reconfirm that the modified settings for GOLD is working, I placed a pending order.

The trade is executed with the SL and TP in place.

Good work Star,
so no need to change anything in the EA mq4.

thanks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,979
  • Aug 3, 2012 6:22am Aug 3, 2012 6:22am
Quoting emmanuel7788
Hi,
Took this H1 trade earlier now partial exit TP1 +44pips and BE trade.
There was very narrow range TOK 5H and nice momemtum abd price break above PAC.

Now manage exit for TP2 and wait for NFP later.

regards,

Moved Trailing SL to 1.2239 trailing behind APB.

<>
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 3 Aug H1 trade TSL 3-8-2012 7-15-12 PM.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,980
  • Aug 3, 2012 6:43am Aug 3, 2012 6:43am
Quoting emmanuel7788
Good work Star,
so no need to change anything in the EA mq4.

thanks!
Yes no changes to EA only external settings.

As a followup to the earlier trade on AUDJPY, it was closed manually as the price is about to hit trailing.

The reason is because the price seems unable to break the resistance line (ignoring the spike) for the pass 3 days.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-03 AUDJPY 2TP.jpg Size: 223 KB
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