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Buy sell line trading

  • #2,361
  • Jan 13, 2013 5:00am Jan 13, 2013 5:00am
Quoting snail69
IhDT great tool - thanks.

Is there a script to execute a trade after all is set ? - ( sl, pt, order level) Would be just perfect.
Nope no script, just visual reference. Use your fingers
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  • #2,362
  • Jan 13, 2013 5:01am Jan 13, 2013 5:01am
Quoting lhDT
Nope no script, just visual reference. Use your fingers
OK love it....
  • #2,363
  • Jan 13, 2013 5:49am Jan 13, 2013 5:49am
Possible entries and respective targets on EUR 1H.

Entry each time close to important level and in tune with 60M system.
Attached Image (click to enlarge)
Click to Enlarge Name: mr pip1.jpg Size: 160 KB
  • #2,364
  • Jan 13, 2013 9:04pm Jan 13, 2013 9:04pm
Here's the Lot Calculator tool I talked about that you can add to your chart that calculates your lot size. You input your risk and initial stop loss and you're all set. If your using a 5 digit broker just make sure you divide the lot size output by 10. I like to place the indicator in it's own window along the bottom of my charts. Right-click and edit the indicator with the risk and stop loss. As you can see in the example below the appropriate lot size for a trade would 0.45. Remember to divide the lot size by 10!!! Any questions just ask and enjoy!
Attached Image (click to enlarge)
Click to Enlarge Name: LotCalculator v1.JPG Size: 174 KB
Attached File(s)
File Type: mq4 LotCalculator v1.mq4   4 KB | 432 downloads
  • #2,365
  • Jan 14, 2013 12:26am Jan 14, 2013 12:26am
Quoting SMcGuire45
Remember to divide the lot size by 10!!!
Attached modified version to give the right lot size automatically.
Attached File(s)
File Type: mq4 LotCalculator v2.mq4   4 KB | 1,080 downloads
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,366
  • Jan 14, 2013 7:30am Jan 14, 2013 7:30am
Entry in USD/CAD earlier
Attached Image
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,367
  • Jan 14, 2013 1:06pm Jan 14, 2013 1:06pm
Quoting FerruFx
Attached modified version to give the right lot size automatically.
Great! Thanks FerruFX...appreciate it!
  • #2,368
  • Jan 14, 2013 2:55pm Jan 14, 2013 2:55pm
hi all

have been reading this system for scalping e/u has anyone managed to use it regularly with regular profits or no?

thanks guys
  • #2,369
  • Jan 14, 2013 6:36pm Jan 14, 2013 6:36pm
Quoting SMcGuire45
Great! Thanks FerruFX...appreciate it!
You're welcome.
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,370
  • Jan 15, 2013 6:09am Jan 15, 2013 6:09am
Hi All,

Have been reading this thread alot and monitoring the 1hours today. Think i have my first valid wining trade on the system!
GBP/JPY - sell at 142.430
Currently + 66 pips, risk was 46 pips :-)

Thanks for this great and easy method!! Will be keeping it clean untill i) realy understand what is happening and ii) get some milage forward testing it.

Cheers
Attached Image
  • #2,371
  • Jan 15, 2013 6:28am Jan 15, 2013 6:28am
Quoting mijnmail
Hi All,

Have been reading this thread alot and monitoring the 1hours today. Think i have my first valid wining trade on the system!
GBP/JPY - sell at 142.430
Currently + 66 pips, risk was 46 pips :-)

Thanks for this great and easy method!! Will be keeping it clean untill i) realy understand what is happening and ii) get some milage forward testing it.

Cheers
Well done M
If you think you can or cannot do it you are correct
  • #2,372
  • Jan 15, 2013 7:05am Jan 15, 2013 7:05am
Mijnmail, congratulation !
  • #2,373
  • Edited 7:30am Jan 15, 2013 7:07am | Edited 7:30am
Thanks Olu & Snail!

Got a day off so I can learn today, and this is a nice way to start!

This hour deliverd another setup acording to the rules but I did not take it. I think the long wick and previous high (s/r) left on the chart do not make this a high probability setup.

What do you guys think?
Attached Image (click to enlarge)
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  • #2,374
  • Jan 15, 2013 7:12am Jan 15, 2013 7:12am
Quoting mijnmail
Hi All,

Have been reading this thread alot and monitoring the 1hours today. Think i have my first valid wining trade on the system!
GBP/JPY - sell at 142.430
Currently + 66 pips, risk was 46 pips :-)

Thanks for this great and easy method!! Will be keeping it clean untill i) realy understand what is happening and ii) get some milage forward testing it.

Cheers
I missed this trade as I am following the H4 trading rules. Anyway, GBPUSD meet the H4 criteria and I entered the trade around London opening. The initial risk is 30 pips but now I have brought it to B/E with a profit of 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 15 jan 2013.gif Size: 65 KB
  • #2,375
  • Jan 15, 2013 9:08am Jan 15, 2013 9:08am
Fresh in, a possible set up according to the thread rules on the NZD/USD. Nice big engulf, wick is a little on the long side but still nice i think. Only major problem is the S/R line @8360. If the trades come in to play i therefore will not take it, there is no room for nice profit (or good R/R).

What do you guys think?
Attached Image (click to enlarge)
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  • #2,376
  • Jan 15, 2013 10:04am Jan 15, 2013 10:04am
Just jumped on the USD/JPY. Was a little bit to quick, but i really liked the setup and the momentum. Mind you that is the same momentum that immediately turned around and bit me.. (still in demo btw!)

Here is the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Selectie_005.png Size: 8 KB
  • #2,377
  • Jan 15, 2013 10:53am Jan 15, 2013 10:53am
Quoting mijnmail
Just jumped on the USD/JPY. Was a little bit to quick, but i really liked the setup and the momentum. Mind you that is the same momentum that immediately turned around and bit me.. (still in demo btw!)

Here is the chart:
That was a good catch. I remember 60minutesman ever mentioned that those signal candle that was close to the 50 SMA has the highest probability. I miss this pair though when I use H4 to screen for potential currency pairs. But H1 candles are usually not as reliable as H4 although it generates more signals to trade.
  • #2,378
  • Jan 15, 2013 10:58am Jan 15, 2013 10:58am
Quoting patguay
That was a good catch. I remember 60minutesman ever mentioned that those signal candle that was close to the 50 SMA has the highest probability. I miss this pair though when I use H4 to screen for potential currency pairs. But H1 candles are usually not as reliable as H4 although it generates more signals to trade.
Yes I think that is true, last trade went a long way but did not reach take profit and closed for B/E. Nothing lost luckly!
Let's see if this hour brings us any signals.
  • #2,379
  • Jan 15, 2013 11:42am Jan 15, 2013 11:42am
Quoting mijnmail
Yes I think that is true, last trade went a long way but did not reach take profit and closed for B/E. Nothing lost luckly!
Let's see if this hour brings us any signals.
Hi mijnmail,

first of all, I congratulate you on your last 2 trades. The GBPJPY trade I took myself.

But be aware of over-trading, meaning you should not try to take every setup. Personally, on H1 I only look for trades between London Open and London Close / overlap with NY (8:00 GMT - 17:00 GMT). On H4 I would take signals round the clock if they look high probable.

Second, try to trade on Demo as you would do with your real money. One of your last charts did not show a stop loss. You should ALWAYS use a SL. Set it above the signal candle or the previous swing.

Last, I would suggest to change your chart colors. Set the bear candle to red, at least different than the bull candle.

Keep on your good trading. I will post some charts from my trades later.

Cheers,
Olarion
  • #2,380
  • Jan 15, 2013 11:58am Jan 15, 2013 11:58am
Here is my GBPJPY trade from today...

Overall result today: +195 pips, account growth of 10.5R.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_H1.png Size: 35 KB
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