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Doing what you like is Freedom. Liking what you do is Happiness.
- #8,161
- Dec 9, 2012 5:13pm Dec 9, 2012 5:13pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
- #8,162
- Dec 9, 2012 5:28pm Dec 9, 2012 5:28pm
- | Joined Feb 2012 | Status: Don't let the bastards grind u down | 217 Posts
[quote=olivierforex;6275367]Hi Scarlet
Correct.
Sorry for the misunderstanding: I was just posting the stats as they are on the H4 chart rather than the result of yet another great 'after the event' trade (for the record, I didn't take this trade as I was busy elsewhere). The original post was just to outline the potential of a fairly straightforward (with hardly any discretion) strategy because at a glance, Genesis looked profitable on H4 but I'm still collecting data for it as 12 signals aren't enough for a full strategy.
Bear in mind that H4 charts do not give the full 'live' picture but they reflect only a possible 'worst case' scenario: when you look at the H4 entry candle (not the signal one), you have no way of knowing if on that H4 candle the entry was activated before the drawdown or vice versa. You have to zoom down to the lower TFs to get the true number and on this occasion the 'real' drawdown was only -3/4 pips and not -46! The point is that if a strategy already looks good on a worst case scenario basis then you're likely to be able to refine it and make it more profitable when you have the full dataset.
No problem Oli.
I will definitely be watching for your updates/findings regarding H4 trading as the time I can dedicate to my trading these days is getting less and less so need to look into HTF trading.
All the best.
Correct.
Sorry for the misunderstanding: I was just posting the stats as they are on the H4 chart rather than the result of yet another great 'after the event' trade (for the record, I didn't take this trade as I was busy elsewhere). The original post was just to outline the potential of a fairly straightforward (with hardly any discretion) strategy because at a glance, Genesis looked profitable on H4 but I'm still collecting data for it as 12 signals aren't enough for a full strategy.
Bear in mind that H4 charts do not give the full 'live' picture but they reflect only a possible 'worst case' scenario: when you look at the H4 entry candle (not the signal one), you have no way of knowing if on that H4 candle the entry was activated before the drawdown or vice versa. You have to zoom down to the lower TFs to get the true number and on this occasion the 'real' drawdown was only -3/4 pips and not -46! The point is that if a strategy already looks good on a worst case scenario basis then you're likely to be able to refine it and make it more profitable when you have the full dataset.
No problem Oli.
I will definitely be watching for your updates/findings regarding H4 trading as the time I can dedicate to my trading these days is getting less and less so need to look into HTF trading.
All the best.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
- #8,163
- Dec 9, 2012 5:33pm Dec 9, 2012 5:33pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
No problem Oli.
I will definitely be watching for your updates/findings regarding H4 trading as the time I can dedicate to my trading these days is getting less and less so need to look into HTF trading.
All the best.
Yes, I'm following with interest too. I don't see me ever trading from the H4 charts, but it's a very interesting study.
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,165
- Dec 9, 2012 5:43pm Dec 9, 2012 5:43pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,167
- Edited Dec 10, 2012 1:04am Dec 9, 2012 11:25pm | Edited Dec 10, 2012 1:04am
Don't you love it when you make a mistake and it all goes to plan.
I highlighted what I thought was a HPT short on the EJ pair.
The only problem was I put in another 0 thus I was exposed ten times what I should have been.
My target was 20 pips which was accomplished
I suppose that's the equivalent of 200 pips profit in one trade
I highlighted what I thought was a HPT short on the EJ pair.
The only problem was I put in another 0 thus I was exposed ten times what I should have been.
My target was 20 pips which was accomplished
I suppose that's the equivalent of 200 pips profit in one trade
- #8,168
- Dec 10, 2012 12:06am Dec 10, 2012 12:06am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Don't you love it when you make a mistake and it all goes to plan.
I highlighted what I thought was a HPT short on the EJ pair.
The only problem was I put in another 0 thus I was exposed ten times what I should have been.
My target was 20 pips which was accomplished
I suppose that's the equivalent of 200 pips profit in one trade
I will post a chart when I get home.
I took the the same trade too......but Santa was otherwise occupied!!......lol
Doing what you like is Freedom. Liking what you do is Happiness.
Wow.....that's a nice bit of Christmas goodwill for you.....Santa is obviously watching over you!
I took the the same trade too......but Santa was otherwise occupied!!......lol
I nearly pulled out when it hit b/e, however, I took the trade based on my analysis and liked the PA so I stuck tight.
My stop tightened up a lot
- #8,170
- Dec 10, 2012 1:33am Dec 10, 2012 1:33am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
He sure was RJ, good to see you were in also
I nearly pulled out when it hit b/e, however, I took the trade based on my analysis and liked the PA so I stuck tight.
My stop tightened up a lot
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,171
- Dec 10, 2012 1:48am Dec 10, 2012 1:48am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
We've spoken about correlated currency pairs before, and he's a great example.
I'm not sure how many of you are in the current short on EU, but you can see on your own charts how the PA seemed to reverse for no reason just about the time Frankie opened. There was a good Genesis signal plus the stoch etc etc.....never-the-less....the reversal seemed to occur for no reason.....or was there a reason?
Take a look at the UC chart attached....you can see see that there was a pivot bounce just before Frankie opened, which is reflected in the EU reversal....
I try to watch for such events, however, it all happens a bit quick at times.
I'm not in the EU trade, however, EJ is set at b/e
- #8,173
- Dec 10, 2012 1:59am Dec 10, 2012 1:59am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Interesting observation RJ
I try to watch for such events, however, it all happens a bit quick at times.
I'm not in the EU trade, however, EJ is set at b/e
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,174
- Dec 10, 2012 2:10am Dec 10, 2012 2:10am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,175
- Dec 10, 2012 2:12am Dec 10, 2012 2:12am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
And there's the London reversal of Frankie....lol.....how many times to we see that? Just about impossible to catch without taking a bit of a risk, which I don't like to do....
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #8,176
- Dec 10, 2012 2:24am Dec 10, 2012 2:24am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #8,177
- Dec 10, 2012 2:31am Dec 10, 2012 2:31am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,178
- Dec 10, 2012 2:41am Dec 10, 2012 2:41am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #8,180
- Dec 10, 2012 2:55am Dec 10, 2012 2:55am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.