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Buy sell line trading

  • #2,421
  • Edited 6:50am Jan 17, 2013 6:44am | Edited 6:50am
Quoting the novice
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.
I look at news, but do not pay that much attention to it. On M5 or M15 this might be different.
Sometimes, news push price in your favor or sometimes against you. It really all comes down to money management.

For the H4 bar you mentioned, it mostly opens as I sleep - so naturally excluded.
But if I was awake and the setup looked good, I would not hesitate to pull the trigger...
  • #2,422
  • Jan 17, 2013 6:49am Jan 17, 2013 6:49am
Olarion , in a previous post you mentioned that you monitor 20 + pairs, do you used the dashboard to assist you or do you scan every hour manually?

The $Yen trade could still go wrong, but money mgmt has already locked in 0.5R
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,423
  • Jan 17, 2013 6:49am Jan 17, 2013 6:49am
Quoting Olarion1975
I look at news, but do not pay that much attention to it. On M5 or M15 this might be different.
Sometimes, news push price in your favor or sometimes against you. It really all comes down to money management.

For the H4 bar you mentioned, it mostly opens as I sleep - so naturally excluded.
I mentioned H1 because I was taken out by an usually large OB due to news.
Thanks for the quick reply.
  • #2,424
  • Jan 17, 2013 6:52am Jan 17, 2013 6:52am
Quoting fisheggs
Olarion , in a previous post you mentioned that you monitor 20 + pairs, do you used the dashboard to assist you or do you scan every hour manually?

The $Yen trade could still go wrong, but money mgmt has already locked in 0.5R
I scan all pairs manually, but I know there is a dashboard thread somewhere for this system...
Congrats on your locked profit, good job!
  • #2,425
  • Jan 17, 2013 8:56am Jan 17, 2013 8:56am
about time i posted a trade... been a while

GU H1
Attached Image (click to enlarge)
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tradewith60
  • #2,426
  • Jan 17, 2013 9:00am Jan 17, 2013 9:00am
I talked myself out of this as the candle close was not convincing enough more dojiesque (is that even a word?) lol

Although the retrace to the MA was picture perfect.

Edit: Superb R on that !

Quoting 60minuteman
about time i posted a trade... been a while

GU H1
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,427
  • Jan 17, 2013 9:04am Jan 17, 2013 9:04am
Quoting fisheggs
I talked myself out of this as the candle close was not convincing enough more dojiesque (is that even a word?) lol

Although the retrace to the MA was picture perfect.

Edit: Superb R on that !
yeah, i had near 200 on EJ so didnt mind re-investing, if you know what i mean
tradewith60
  • #2,428
  • Jan 17, 2013 9:20am Jan 17, 2013 9:20am
Backtest results on the cross/reversal trade:

305 TRADES 216W 89L 70.8% W/L RATIO

well worth exploring more... gonna try and get 500 trade figures over the weekend...

Seems pretty solid across all instruments though
tradewith60
  • #2,429
  • Jan 17, 2013 9:23am Jan 17, 2013 9:23am
Quoting 60minuteman
Backtest results on the cross/reversal trade:

305 TRADES 216W 89L 70.8% W/L RATIO

well worth exploring more... gonna try and get 500 trade figures over the weekend...

Seems pretty solid across all instruments though
Hey 60!!

Where are the rules for your cross/reversal trade?

PGPB
  • #2,430
  • Jan 17, 2013 9:23am Jan 17, 2013 9:23am
Quick 40 pips on GBPAUD H4 this morning on a nice Type 2 setup! Got nailed on a couple of JPY H1 pairs last night...so I think I'll be steering clear of trading H1 late Asian/Pre-London open.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD h4 Type 2.JPG Size: 144 KB
  • #2,431
  • Jan 17, 2013 9:27am Jan 17, 2013 9:27am
Quoting pgpb
Hey 60!!

Where are the rules for your cross/reversal trade?

PGPB
not leaving it up forever so download the file mate...

http://clip2net.com/s/2INTs
tradewith60
  • #2,432
  • Jan 17, 2013 10:05am Jan 17, 2013 10:05am
Quoting 60minuteman
not leaving it up forever so download the file mate...

http://clip2net.com/s/2INTs

Got it!
Thanks!
  • #2,433
  • Jan 17, 2013 10:22am Jan 17, 2013 10:22am
Quoting 60minuteman
Backtest results on the cross/reversal trade:

305 TRADES 216W 89L 70.8% W/L RATIO

well worth exploring more... gonna try and get 500 trade figures over the weekend...

Seems pretty solid across all instruments though
That is awesome, nice work. What pairs are included in the 305 trades?

And what was your exit criteria?
  • #2,434
  • Jan 17, 2013 10:31am Jan 17, 2013 10:31am
Quoting Olarion1975
That is awesome, nice work. What pairs are included in the 305 trades?
EU AU GU GOLD
tradewith60
  • #2,435
  • Jan 17, 2013 10:32am Jan 17, 2013 10:32am
Quoting 60minuteman
EU AU GU GOLD
Ok, thanks. When did you consider the trade as a win, e.g. at risk/reward 1:1?
  • #2,436
  • Jan 17, 2013 10:49am Jan 17, 2013 10:49am
Quoting SMcGuire45
Quick 40 pips on GBPAUD H4 this morning on a nice Type 2 setup! Got nailed on a couple of JPY H1 pairs last night...so I think I'll be steering clear of trading H1 late Asian/Pre-London open.
Way to go, mate!
My H4 candle looked different (different broker time) and did not show a setup, so I missed that one. Keep pipping!
  • #2,437
  • Jan 17, 2013 10:50am Jan 17, 2013 10:50am
Quoting Olarion1975
Ok, thanks. When did you consider the trade as a win, e.g. at risk/reward 1:1?
I used the trail behind the last closed H1.

I would probably favour a 2 lot trade, removing risk quickly with 1 lot and letting the other run with a trailing stop...
tradewith60
  • #2,438
  • Jan 17, 2013 11:54am Jan 17, 2013 11:54am
BRENT FUTURES H1 off the ma's

nice day close to 300 pips and solid %age increase..
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tradewith60
  • #2,439
  • Jan 17, 2013 12:33pm Jan 17, 2013 12:33pm
Has anyone any advice for using this method on H4 and D1 charts. It looks to me that it would be just as successful by using the IB, Engulfing, and Type 2 bars just as on the H1. Just like some advice and maby things to watch out for on the higher timeframe before I start using live. Thanks in advance.
  • #2,440
  • Jan 17, 2013 12:39pm Jan 17, 2013 12:39pm
Quoting 60minuteman
BRENT FUTURES H1 off the ma's

nice day close to 300 pips and solid %age increase..
Nice trade, congrats! I cannot trade oil with my broker...
+300 pips a day is awesome, mate!
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