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Buy sell line trading

  • #2,401
  • Jan 16, 2013 4:18am Jan 16, 2013 4:18am
Quoting 60minuteman
yeah this is my own, to my knowledge I have never seen anyone use the 50Lwma with the 50sma...

2pip buffer... avoids some losers
Thanks for your comment. Will definetly test it. First visual backtest on a few pairs looks good...
  • #2,402
  • Jan 16, 2013 7:18am Jan 16, 2013 7:18am
TP of 1.3260 Hit ou EURUSD for 2.8R (Ignore the red line)
Attached Image (click to enlarge)
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Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,403
  • Jan 16, 2013 7:41am Jan 16, 2013 7:41am
Quoting fisheggs
TP of 1.3260 Hit ou EURUSD for 2.8R (Ignore the red line)
nice... took the same trade!
tradewith60
  • #2,404
  • Jan 16, 2013 8:17am Jan 16, 2013 8:17am
Quoting 60minuteman
nice... took the same trade!

I hesitated because of the large green bar before the signal bar.
Should that be a consideration?
  • #2,405
  • Jan 16, 2013 8:20am Jan 16, 2013 8:20am
Quoting the novice
I hesitated because of the large green bar before the signal bar.
Should that be a consideration?
I actually see that as a bonus as the weak hands have been pushed out (i.e weak shorts stopped out)

We were still below the 50SMA so shorts only.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,406
  • Jan 16, 2013 8:31am Jan 16, 2013 8:31am
Quoting fisheggs
I actually see that as a bonus as the weak hands have been pushed out (i.e weak shorts stopped out)

We were still below the 50SMA so shorts only.
im in agreement with Mr fish... we had almost the same set up on GU yesterday...
tradewith60
  • #2,407
  • Edited 10:06am Jan 16, 2013 9:55am | Edited 10:06am
Quoting fisheggs
TP of 1.3260 Hit ou EURUSD for 2.8R (Ignore the red line)
Well done, nice trade.
I took the same trade for a 2.0R win.
  • #2,408
  • Jan 16, 2013 12:16pm Jan 16, 2013 12:16pm
Some good trades today I see, nicely done!! I'm looking forward to producing these results one day.
Just pulled up the 4h charts and I saw a possible nice entry setup.

I love how it fits in the long term trend and it still has some room to breath. Downside is that it looks like the momentum is turned. What do you guys think?

[Disclaimer: I'm still learning and on demo!]
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  • #2,409
  • Jan 16, 2013 12:51pm Jan 16, 2013 12:51pm
Quoting mijnmail
Some good trades today I see, nicely done!! I'm looking forward to producing these results one day.
Just pulled up the 4h charts and I saw a possible nice entry setup.

I love how it fits in the long term trend and it still has some room to breath. Downside is that it looks like the momentum is turned. What do you guys think?

[Disclaimer: I'm still learning and on demo!]
To me it looks ok, I am looking at a similar trade in USDJPY H4, perhaps the more experienced with this method can comment.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,410
  • Jan 16, 2013 12:54pm Jan 16, 2013 12:54pm
Quoting Olarion1975
Well done, nice trade.
I took the same trade for a 2.0R win.

Cheers
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,411
  • Jan 16, 2013 1:46pm Jan 16, 2013 1:46pm
Quoting mijnmail
Some good trades today I see, nicely done!! I'm looking forward to producing these results one day.
Just pulled up the 4h charts and I saw a possible nice entry setup.

I love how it fits in the long term trend and it still has some room to breath. Downside is that it looks like the momentum is turned. What do you guys think?

[Disclaimer: I'm still learning and on demo!]
I find EURJPY pretty tricky as H1 and H4 seems to be going opposite direction. In the next 20 mins, if bearish engulfing pattern is form for the signal candle, you can short H1. Yet now, you can also long H4 as shown in the pictures below. Both are pretty near the 50 SMA. Given this scenario, which T/F would you choose? Should the higher timeframe overide the lower time frame trade? Based on what I have observed for the past few days, both scenario can take place for any pairs of currencies. Is it necessary to confirm D1, H4 and H1 to be in the same direction before one can take any trade (be it H1 or H4) just to be on the safe side?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY H1 16 Jan 2013.gif Size: 19 KB
Click to Enlarge Name: EURJPY H4 16 Jan 2013.gif Size: 18 KB
  • #2,412
  • Jan 16, 2013 2:10pm Jan 16, 2013 2:10pm
Quoting Olarion1975
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.
Hi Patgay,
I think with the information from the quote of Olarion above the 4h is the way to go. What in my opinion also helps is the longer term trend (up) and the fact that the 4h bar coverd the two previous bars. Unfortunately it doesn't look like it's coming in action..

A question to the guru's: Do you guy's still take a 4h setup if it activates in the last hour or would you be looking to get it within the first hour (possible momentum)?

Will stay awake for the next 4h bars and then call it a night!
  • #2,413
  • Jan 16, 2013 2:52pm Jan 16, 2013 2:52pm
Quoting patguay
I find EURJPY pretty tricky as H1 and H4 seems to be going opposite direction. In the next 20 mins, if bearish engulfing pattern is form for the signal candle, you can short H1. Yet now, you can also long H4 as shown in the pictures below. Both are pretty near the 50 SMA. Given this scenario, which T/F would you choose? Should the higher timeframe overide the lower time frame trade? Based on what I have observed for the past few days, both scenario can take place for any pairs of currencies. Is it necessary to confirm D1, H4 and H1 to be in the...

If price goes short to trigger H1 it cant go long at the same time to trigger H4, although it is possible to trigger both and both win, it is also possible to trigger both and them both lose...

But there is distinct difference between the timeframes, this is way too much information for anyone to explain... but it is easy to get for yourself... On saturday you pull your charts up , you go back a year and you study and collect the data.

What I will say is this, most h4 trades that win run for 24 hours (on average) So time of day is not really relevant, London, New York, Asia will all be involved in that trade. But for H1, 6 bars will only really be 1 session, so do you really want to trade GBP USD in just Asian session? etc etc, these are just examples.... and as always there are exceptions to the clause, but you need to decide what tf, what instruments etc etc and have that planned out.

, study what you're going to do tirelessly and write a plan
tradewith60
  • #2,414
  • Jan 16, 2013 5:40pm Jan 16, 2013 5:40pm
Hi
Please write the last moving setting
thanks
  • #2,415
  • Jan 16, 2013 5:42pm Jan 16, 2013 5:42pm
60minuteman

With your extensive trading experience, care to share, which is the tf produced a constant profitable trades? H4? D? H1 or??

Cheers
  • #2,416
  • Jan 16, 2013 9:38pm Jan 16, 2013 9:38pm
Hi Folks:
Does anyone have the post# that 60 talks about his trailing stop when the price makes a new high. I went through the entire thread and couldn't find it. Thanks for your help.

Jim
  • #2,417
  • Jan 17, 2013 1:20am Jan 17, 2013 1:20am
Quoting bigjim1958
Hi Folks:
Does anyone have the post# that 60 talks about his trailing stop when the price makes a new high. I went through the entire thread and couldn't find it. Thanks for your help.

Jim
Post #2033

[60mm]: "I use a few different stop management methods, at the moment I'm favouring stepping the stop behind the low or high of the last closed H1..."
  • #2,418
  • Jan 17, 2013 6:27am Jan 17, 2013 6:27am
Did anyone hop on the $Yen train? My TP is at 89.66, if hit, would be 2.17 R
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Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,419
  • Jan 17, 2013 6:32am Jan 17, 2013 6:32am
Quoting fisheggs
Did anyone hop on the $Yen train? My TP is at 89.66, if hit, would be 2.17 R
Nice trade! I did not take it though, because at the time of entry the round number 89.000 above was only a few pips away. Often price likes to reverse there...
  • #2,420
  • Jan 17, 2013 6:38am Jan 17, 2013 6:38am
Olarion,

Would you still look at H1 if there is important news coming out in the next hour?
You mentioned that you would take any H4 bar round the clock if the signal is valid. Does that include the bar between 4pm to 8 pm EST?

Thanks.
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