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Quick and Dirty EOD

Thanks Hugh I'm looking forward to following this thread.
Quoting Hugh Briss
Because 8/28 was the nearest high. This is a very borderline decision. To be honest you could use either, there is only 10 or so pips in it.
Ok, I totally understood what you'd written. But what happen if (hypothetically speaking) the high of 8/23 is "substantially" higher than the high of 8/28???

I asked this question because it has a big impact on this trading strategy. Rephrasing my question above using your words (assuming that the 8/23 high is much higher than the 8/28 high), are we focusing on the break of "nearest" high (8/28) or the break of "highest price reached so far in this mini trend" (8/23)???
Quoting kokopelli
Ok, I totally understood what you'd written. But what happen if (hypothetically speaking) the high of 8/23 is "substantially" higher than the high of 8/28???

I asked this question because it has a big impact on this trading strategy. Rephrasing my question above using your words (assuming that the 8/23 high is much higher than the 8/28 high), are we focusing on the break of "nearest" high (8/28) or the break of "highest price reached so far in this mini trend" (8/23)???
The latter. "the highest price reached so far in this mini trend".
I'm in audusd and got the pendings placed for eurnzd and nzdusd. Also put a pending at the top of that large spike on eurusd.
Up about 170 pips all told but lost 50 pips on eurgbp earlier.
I'm in Aud/Usd as well. I have pendings in E/N and E/G. I'm already in E/U from that 8/23 high
I want to highlight some information written by Hugh in his blog.
In his article of Friday August 31 headed "Trend Following System" he mentions a book written by Courtney Smith called
"How To Make a Living Trading Foreign Exchange" I am about half way thru reading it and would recommend it to anyone who is interested in forex. For me it is the best book that I have read on forex trading.
Quoting digf
I want to highlight some information written by Hugh in his blog.
In his article of Friday August 31 headed "Trend Following System" he mentions a book written by Courtney Smith called
"How To Make a Living Trading Foreign Exchange" I am about half way thru reading it and would recommend it to anyone who is interested in forex. For me it is the best book that I have read on forex trading.
Thanks for the recommendation. will check it out.

Olu
Find a trend and milk it for all it is worth. That's how to be profitable
Just over 200 pips up tonight 9 pm gmt. A few hours till the daily candle closes but nothing setting up, just got to watch the trades I'm in already.

I wish I'd have caught that euraud trend from the start!
I'm also in Aud/Usd. Note RBA interest rate decision later today.
Quoting Porty4
I'm also in Aud/Usd. Note RBA interest rate decision later today.
Yep, I've gone off the idea of watching news too much, even rate decisions. I can only see a cut if anything anyway which will be a hard drop.
  • Post #592
  • Quote
  • Edited at 7:49pm Sep 3, 2012 6:58pm | Edited at 7:49pm
Watch now. Trying to check out what pairs to watch.

I have Eur/Usd, Eur/Gbp, Eur/Aud, Eur/Nzd, Aud/Usd, Nzd/Usd

What feed are you ushing Hugh? I'm using FXpro and I am seeing diffrences both in candle formation and if its a bear/bull candle

Edit: also Hugh I've tried getting you trail and close EA working a couple pages ago but its not working. Don't know why. Can;t even put it on the chart or compile it.
Quoting Hugh Briss
Up about 170 pips all told but lost 50 pips on eurgbp earlier.
HB, 50 pips loss, why not waiting for 100 pip stop loss?

We are still in uptrend on eurgbp, above 10ma.
It seems GBP like other pairs is ranging and needs a breakout. Just my opinion worth two cents.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH12.png Size: 52 KB
Forex is boring but profitable with patience and discipline :waiting:
For what it's worth the EUR/GBP is not one of the better pairs to be in... trends are generally quite choppy if and when they happen.......
  • Post #596
  • Quote
  • Edited at 11:27pm Sep 3, 2012 8:24pm | Edited at 11:27pm
Does anyone have the tailing MA stop EA that will close trades?

i've tried downloading it and its not working, just an empty file with "EA" in it

Backtsting just getting a little uncomfortable with E/U and how big some of the losses are on the last trade where it goes against you. Or when you are entering a ranging market when.

One Key thing that needes to be remembered is that the 10EMA can't be flat or the price not too close to it.. that is when you start to se market ranging...atleast what ive seen
Quoting Maverick731
Watch now. Trying to check out what pairs to watch.

I have Eur/Usd, Eur/Gbp, Eur/Aud, Eur/Nzd, Aud/Usd, Nzd/Usd

What feed are you ushing Hugh? I'm using FXpro and I am seeing diffrences both in candle formation and if its a bear/bull candle

Edit: also Hugh I've tried getting you trail and close EA working a couple pages ago but its not working. Don't know why. Can;t even put it on the chart or compile it.
Tradestar1 is right, eurgbp is not as smooth. I've got audcad and nzdcad too but not sure about those yet. Here is the EA. I use Vantage FX UK.
Attached File
File Type: ex4 Trail&CloseOrderSLtoMA_EA_[EdwardMunroe].ex4   7 KB | 175 downloads
Quoting driven18
HB, 50 pips loss, why not waiting for 100 pip stop loss?

We are still in uptrend on eurgbp, above 10ma.
Eurgbp is generally less volatile so 50 pips would be enough but it didn't work out that way. Removed that pair now anyway as it is a little too choppy for our purposes.
Quoting tradestar1
For what it's worth the EUR/GBP is not one of the better pairs to be in... trends are generally quite choppy if and when they happen.......
Yes, noted.
Quoting Maverick731
Does anyone have the tailing MA stop EA that will close trades?

i've tried downloading it and its not working, just an empty file with "EA" in it

Backtsting just getting a little uncomfortable with E/U and how big some of the losses are on the last trade where it goes against you. Or when you are entering a ranging market when.

One Key thing that needes to be remembered is that the 10EMA can't be flat or the price not too close to it.. that is when you start to se market ranging...atleast what ive seen
Attached to the above post.

You will always give some back with a trend following system such as this but in the long run you will have bigger winners than losers. The point of the system is to wait for the choppiness around the ma to occur and for a clear directional move to be made. Then the price needs to move that way a second time to take you into the trade. This will cut out at least a few whipsaw losses which should make a big difference to the profitability over a normal ma cross system.
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