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Quick and Dirty EOD

  • #741
  • Sep 16, 2012 7:16pm Sep 16, 2012 7:16pm
Quoting maudur
Maverick, Thank you very much.

I know it. but what about Take Profit in new strategic?

I prefer to wait HB back from vacation and tell me if he's good or not seems to have a TP in its new strategy.

Thank you very much to all for your interest in helping me.
No problem, the system outline when a trade is exited though... it either hits the stop loss, or the candle closes on the opposite side of the 10ema
  • #742
  • Sep 17, 2012 2:50am Sep 17, 2012 2:50am
Can the members here please discuss why this buy stop would not be a wise trade to take?

Price is trading above the 10EMA then a pullback day.
Does the pin bar have any relevance in this method, should I be wary?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd d1.jpg Size: 87 KB
  • #743
  • Sep 17, 2012 4:38am Sep 17, 2012 4:38am
Quoting normtold
Can the members here please discuss why this buy stop would not be a wise trade to take?

Price is trading above the 10EMA then a pullback day.
Does the pin bar have any relevance in this method, should I be wary?
Isn't that a Sunday candle on the chart ?
(If so, I personally wouldn't use it as a pullback candle)
  • #744
  • Sep 17, 2012 6:10am Sep 17, 2012 6:10am
Quoting normtold
Can the members here please discuss why this buy stop would not be a wise trade to take?

Price is trading above the 10EMA then a pullback day.
Does the pin bar have any relevance in this method, should I be wary?
The pin bar and the previous high in August suggest many sellers at your buy area. Also, if the buy stop is triggered in the next bar or two, it will occur far above the 10 ema. I would feel better about the buy if price remained near the highs and consolidated through time allowing the 10 ema to "catch up", then triggering a buy.
  • #745
  • Sep 17, 2012 7:16am Sep 17, 2012 7:16am
Quoting normtold
Can the members here please discuss why this buy stop would not be a wise trade to take?

Price is trading above the 10EMA then a pullback day.
Does the pin bar have any relevance in this method, should I be wary?
I see what you are doing Normtold. We have a reversal candle and if this market is bullish it will take it out on its way up. The logic is good. However I feel it is overbought and you might a fill and no serious momentum... However if this market sells off and consolidates that high is a place to watch for later...

Olu
If you think you can or cannot do it you are correct
  • #746
  • Sep 17, 2012 7:35am Sep 17, 2012 7:35am
Thanks all for your replies, I have cancelled that order.

I had a buy order set on EurJpy EurUsd and NzdUsd too but they are all similar situations to AudUsd in that the pullback candle is a Sunday candle and that price is way above the 10EMA (I had not realised that point was important).
  • #747
  • Sep 17, 2012 8:54am Sep 17, 2012 8:54am
We might be setting up for a sell here.

And we are not too far from the sma... Comments anyone?
If you think you can or cannot do it you are correct
  • #748
  • Sep 17, 2012 9:09am Sep 17, 2012 9:09am
I think HughBriss said he is staying away from Chf pairs.

If you are looking at the low from the 6th September then I believe it is invalidated since a bar closed above the 10EMA on the 13th.
  • #749
  • Sep 17, 2012 9:10am Sep 17, 2012 9:10am
I dont trade anything CHF, doesnt really have any direction/trend & is very shaky looking back at it.

Only trades I have open currently are E/U and E/A. I know that it is double betting but E/A was played at a later point when I already had profit locked in with E/U

Up ~950 pips

I have limits placed on EUR/NZD, AUD/USD, NZD/USD
  • #750
  • Sep 18, 2012 12:03pm Sep 18, 2012 12:03pm
Hi guys, i'm reading all the trend,
whic crosses do you follow?
  • #751
  • Sep 18, 2012 9:20pm Sep 18, 2012 9:20pm
Normtold: I placed my buystop there today after I had seen the retractment. We will see what the coming days bring us.

I am current down about ~140 from being around 980 pips morning morning. E/U and Eur/Aud have a bit fo a pullback right now.

I follow...

Eur/Usd, Eur/Aud, Eur/Nzd, Aud/Usd, Nzd/Usd

And to those talking about the alot of sellers and blah blah blah in X area... some ppl in here will tell you, that you are overanalyzing. Do as you please and what works for you though
  • #752
  • Sep 19, 2012 12:57am Sep 19, 2012 12:57am
Quoting Maverick731
Normtold: I placed my buystop there today after I had seen the retractment. We will see what the coming days bring us.

I am current down about ~140 from being around 980 pips morning morning. E/U and Eur/Aud have a bit fo a pullback right now.

I follow...

Eur/Usd, Eur/Aud, Eur/Nzd, Aud/Usd, Nzd/Usd

And to those talking about the alot of sellers and blah blah blah in X area... some ppl in here will tell you, that you are overanalyzing. Do as you please and what works for you though
You are right Maverick. It is either we want to trade the system or not. The SMA rules in this system. Annd we need to keep to its rules

Olu
If you think you can or cannot do it you are correct
  • #753
  • Sep 19, 2012 3:45am Sep 19, 2012 3:45am
i'm in audusd
http://gyazo.com/9a93f7ba9d4e9e198891a0fc4a535b6c.png
http://gyazo.com/9a93f7ba9d4e9e198891a0fc4a535b6c

and eurnzd
http://gyazo.com/4069f0d5a912c7b6423bbfe1e9b27d0c.png
http://gyazo.com/4069f0d5a912c7b6423bbfe1e9b27d0c

i usually place order +10 pips the high/low
  • #754
  • Sep 19, 2012 12:39pm Sep 19, 2012 12:39pm
Quoting maudur
Maverick, Thank you very much.

I know it. but what about Take Profit in new strategic?

I prefer to wait HB back from vacation and tell me if he's good or not seems to have a TP in its new strategy.

Thank you very much to all for your interest in helping me.
No take profit. Hold it until the trend ends. Sent from my wife's mobile while in sunny Majorca. Hola everyone.
  • #755
  • Sep 19, 2012 2:22pm Sep 19, 2012 2:22pm
Quoting Hugh Briss
Hold it until the trend ends.
how do you understand when the trend ends?
  • #756
  • Sep 19, 2012 3:29pm Sep 19, 2012 3:29pm
Quoting dnabrasil
how do you understand when the trend ends?
You don't and you or I never will know that...
  • #757
  • Edited 5:26pm Sep 19, 2012 4:06pm | Edited 5:26pm
Quoting dnabrasil
how do you understand when the trend ends?
I'm still learning the method myself but I believe it is when price hits the MA.
  • #758
  • Sep 19, 2012 5:24pm Sep 19, 2012 5:24pm
Quoting tradestar1
Man this is starting to sound pretty complicated....lol
How about this instead... nice and easy, ..... easy peazy.
http://screencast.com/t/b0w9ueuNV5R
The Weighted MA is faster than the Simple MA and as such is an indication of the trend.
Price is above the MAs and the WMA is above the SMA "trend is up" vice versa for down trend.
I keep re-reading the latest changes in the system and looking over the charts. I like the idea of the two MAs. This system is one that I can follow since I can't watch the charts all day. And I don't think I want to anyway. What's interesting is that with the set ups one can catch most of the large moves that occur in the market.

Tradestar1, or anyone who has a good grasp of his method, I have a couple of questions which I have added to the chart. Hopefully it looks ok.
Attached Image (click to enlarge)
Click to Enlarge Name: ts-rules.png Size: 119 KB
  • #759
  • Sep 19, 2012 5:34pm Sep 19, 2012 5:34pm
hey, is this a valid entry setup?
or should i place the order at the low of the marked candle?
Attached Image (click to enlarge)
Click to Enlarge Name: audchf.jpg Size: 97 KB
  • #760
  • Sep 19, 2012 5:46pm Sep 19, 2012 5:46pm
Generally the entry is at the break of the candle you have noted in question 1..... if you wish to be more aggressive then of course you could enter at the close but this will incur more risk...... particularly if there are several retracement days.... in which case I would trail the lows for an entry.

For question #2...
That is an example of trailing your buy order using the lower lows of the two red candles.... A safer more aggressive entry.

Hope this helps clear things up for you.
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