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  • #161
  • Oct 4, 2012 8:57am Oct 4, 2012 8:57am
Quoting hefhem911
OK. I don't know how you came up with that but what I am saying is this: If my SL is 100 pips, then my TP will be 150 pips. I prefer to re-enter later when I get a divergence in MACD.

This way, I will have my balance increasing and also my equity.
I understand your intention. But in reality you will just have your balance decreasing and also your equity.

Any trade system relies on a ratio of winning and losing trades. It is only profitable when the winners make more profit than the losers take away. When you reduce the profits of your winners, for instance with a profit target, you tilt that ratio towards losing and make the whole system unprofitable. As you can easily see when you do a backtest - just look at the equity curve.

This is not to say that a TP is always bad. It's only bad for most systems. Such as for this.
  • #162
  • Oct 4, 2012 8:59am Oct 4, 2012 8:59am
Quoting jcl365
I understood your intention, but in reality you will just have balance decreasing and also your equity.

Any trade system relies on a balance of winning and losing trades. It is only profitable when the winners make more profit than the losers take away. When you reduce the profits of your winners, which you do with your profit target, you tilt the balance towards losing and make the whole system unprofitable. As you can easily see when you do a simple backtest - just look at the equity curve.
This I know and that's why they teach us to use 1:2. But the truth is, does it always work. Thus I derived my own formula
  • #163
  • Oct 4, 2012 9:11am Oct 4, 2012 9:11am
Quoting Barbossa
How do you decide to set TP at 1.5x the risk?
My SL is gotten from the highest high and then I multiply this by 1.5 to get my TP
  • #164
  • Oct 4, 2012 10:31am Oct 4, 2012 10:31am
Quoting kbeza
Hi mates. What do you think about tma slope filter? I don't trade this ones. Everyone hit a 20 pip tp except the 2nd one in the european session. Sorry for my bad english. Regards.
Could you share the tma slope indicator....like to look at it...thanks in advance!!
  • #165
  • Oct 4, 2012 12:32pm Oct 4, 2012 12:32pm
Looks like AU could be a buy, but I have 10 hrs. before my candle closes
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 24 KB
  • #166
  • Oct 4, 2012 12:39pm Oct 4, 2012 12:39pm
didn't want to comment, but on second thought, i should pay back to the thread creator for this great system by help clarifying the core idea.

your TP vs SL 1.5 will fail this system. simple as that

feel free to try though

i guess the7 might have similar thoughts, and JCL already posts his statistics that are almost same as my tests.

the system is to capture a trend to earn, not a 1.5x SL (the signal bar length) to earn.

Quoting hefhem911
OK. I don't know how you came up with that but what I am saying is this: If my SL is 100 pips, then my TP will be 150 pips. I prefer to re-enter later when I get a divergence in MACD.

This way, I will have my balance increasing and also my equity.
  • #167
  • Oct 4, 2012 2:50pm Oct 4, 2012 2:50pm
I hope you guys have not missed the XX/JPY run.
Aud/Jp +13,
Cad/Jpy +52,
Eur/Jpy +191,
Eur/Usd +100,
Gpb/Jpy +103 and
Nzd/Jpy -14 pips so far and counting...
  • #168
  • Oct 4, 2012 2:54pm Oct 4, 2012 2:54pm
I always loved the 5 Ema indicator...If you are looking for a more conservative approach, try entering the trade when candle closes above/below 5 EMA close.
  • #169
  • Oct 4, 2012 3:14pm Oct 4, 2012 3:14pm
THe7 ,Can you show some of your entries on the Yen trades?
  • #170
  • Oct 4, 2012 3:28pm Oct 4, 2012 3:28pm
Nice system, thanks for sharing. The good thing is that it can be combined with any other system for extra confirmation
'To get something you never had, you have to do something you never did.'
  • #171
  • Oct 4, 2012 3:58pm Oct 4, 2012 3:58pm
Quoting The7
I always loved the 5 Ema indicator...If you are looking for a more conservative approach, try entering the trade when candle closes above/below 5 EMA close.
a more conservative way of entering, especially when the weekly trend turns around is feb2865`s with irony thread.
on the daily chart he waits for the down trend to stall with a pinbar or bull bar, second candle a bull bar for confirmation and enters if the top of the second candle is broken.

pyramid in aggressively a la pipeasy - millepede thread - , and bring your trades to BE before attempting the next trade.

when you have a nice run, you`ll be making a ton of money; lots of small losses and some huge wins.

The7: anyway of scaling in along the way?
  • #172
  • Oct 4, 2012 6:41pm Oct 4, 2012 6:41pm
Anyone going long off the nzdusd pinbar?

Rob
  • #173
  • Oct 4, 2012 7:56pm Oct 4, 2012 7:56pm
don't know , it's kind a up there. looking at the bar on AJ.
  • #174
  • Oct 4, 2012 8:28pm Oct 4, 2012 8:28pm
chicago rob, stoch are down on that so be careful
  • #175
  • Oct 4, 2012 8:44pm Oct 4, 2012 8:44pm
Quoting ChicagoRob
Anyone going long off the nzdusd pinbar?

Rob

Even though this is not a perfect pinbar, the 0.8200 level could be a nice bounce...I'm in...
  • #176
  • Oct 4, 2012 8:47pm Oct 4, 2012 8:47pm
The XX/Jpy are around + 400 pips and counting..And +104 for Eur/Usd. Those are the runners we waited for...
  • #177
  • Oct 4, 2012 8:50pm Oct 4, 2012 8:50pm
Quoting The7
Even though this is not a perfect pinbar, the 0.8200 level could be a nice bounce...I'm in...
I would wait until NFP is done.
Follow me to the Promised Land
  • #178
  • Oct 4, 2012 8:50pm Oct 4, 2012 8:50pm
Closed all my trades for + ~500 pips..WHYYYYY??? Coz I can...:-)
Dont forget, NO HARD RULES..
  • #179
  • Oct 5, 2012 1:20am Oct 5, 2012 1:20am
Quoting kbeza
Hi mates. What do you think about tma slope filter? I don't trade this ones. Everyone hit a 20 pip tp except the 2nd one in the european session. Sorry for my bad english. Regards.
Thanks alot for the suggestion, kbeza.

I have a new version of indicator which shows much better results as the attachment EVENT with M15. It removes most of the failed signals especially in case they violates with the TREND.

Of course we must have a suitable MM strategy to minimize the RISK beside the filters.

Sincerly,
VnTrader
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-M15.png Size: 205 KB
  • #180
  • Oct 5, 2012 1:31am Oct 5, 2012 1:31am
Quoting ChicagoRob
Anyone going long off the nzdusd pinbar?

Rob
Not a pin on my broker candle times, but still a valid entry so I'm in.

Shame i've only picked up on this thread in the last few days, had I been in a week ago, I could have picked up all the yen trades our thread starter has just closed for +500. Not too shabby for a week's work!
Attached Image (click to enlarge)
Click to Enlarge Name: nzus daily.gif Size: 28 KB
Getting there, slowly but surely...
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