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As Easy as "PI"

  • #141
  • Jan 16, 2013 7:59am Jan 16, 2013 7:59am
Quoting msia.metal
Subscribed!
In your opinion, how different 7/22 against the standard setting 8/26?

Obviously not much as can be seen below. 7/22 is Red and Light Blue, 8/26 is Orange and Dark Blue. But if you switch to 8/26, then you wouldn't have "PI"

The key, for me, really isn't in the exact cross, it's just establishing that I'm in a trend and then stacking positions in line with the market's sentiment.
  • #142
  • Jan 16, 2013 8:08am Jan 16, 2013 8:08am
Quoting spyderman
Obviously not much as can be seen below. 7/22 is Red and Light Blue, 8/26 is Orange and Dark Blue. But if you switch to 8/26, then you wouldn't have "PI"

The key, for me, really isn't in the exact cross, it's just establishing that I'm in a trend and then stacking positions in line with the market's sentiment.
Do you find the PI system work well in H4 or H1?
Reason asked is Daily is seem long waiting for some like me .
How H4 or H1 offers one a small loss in every trade taken, just my opinion

About stacking, how soon you to stack (make a new trade)?

Thanks
  • #143
  • Jan 16, 2013 9:04am Jan 16, 2013 9:04am
Quoting msia.metal
Do you find the PI system work well in H4 or H1?
Reason asked is Daily is seem long waiting for some like me .
How H4 or H1 offers one a small loss in every trade taken, just my opinion

About stacking, how soon you to stack (make a new trade)?

Thanks
No, I don't trade the lower time frames with this. I want to get into long term trends in line with Global sentiment. That takes a while to happen, get moving, and then to turn around. The lower the time frame the more 'market noise' you're going to get. Many news releases that have a shorter term effect are going to skew your results. For the news releases that have a longer term effect (market shift) you can incorporate into the long term trend.
  • #144
  • Jan 16, 2013 11:02am Jan 16, 2013 11:02am
Quoting msia.metal

About stacking, how soon you to stack (make a new trade)?

Thanks

As far as stacking goes, as mentioned earlier, I stack a position after I get a daily reversal candle. I then place my buy/sell stop above/below the recent high
  • #145
  • Jan 16, 2013 2:04pm Jan 16, 2013 2:04pm
Hi Spyderman,

May I know how to interpret this P/L statement? Today, there is a return of 17%. Does that mean that you have closed a trade that earn you 17%? If so, the exit is 0 whereas the entry is 1. If 1815 pips is equivalent to 17%, I wonder how does -1.0% associated with -2,670 pips as shown in the weekly performance. There are 4 entry and 2 exit for the week. Does the exit refers to closing of the trade and entry mean opening new positions? This is quite confusing.
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  • #146
  • Edited 4:52pm Jan 16, 2013 2:19pm | Edited 4:52pm
Quoting patguay
Hi Spyderman,

May I know how to interpret this P/L statement? Today, there is a return of 17%. Does that mean that you have closed a trade that earn you 17%? If so, the exit is 0 whereas the entry is 1. If 1815 pips is equivalent to 17%, I wonder how does -1.0% associated with -2,670 pips as shown in the weekly performance. There are 4 entry and 2 exit for the week. Does the exit refers to closing of the trade and entry mean opening new positions? This is quite confusing.

To be honest, I don't know how FF's trade explorer works for sure. At least not as far as how it figures entries and exits. You'll see on my tote that I use that the numbers are different, at least for this week. My chart only records actual closed trades as losses and then the floating profit/loss in the current section.

I did have 1 entry today that hit a pending sell stop (GbpAud). I'm sure the 17% profit is just the increase in floating profit for today. The weekly is confusing on the FF explorer. The number of entries/exits is correct, but as you can see on my tote the 2 exits were for a -410 pips total. I'm guessing the FF explorer takes the negative pips from the closed trades and adds to it the number of negative pips of floating profit for the week.

So the weeks total negative profit (floating and booked) is -2,670. Hope that helps.
  • #147
  • Jan 16, 2013 2:54pm Jan 16, 2013 2:54pm
Quoting spyderman
To be honest, I don't know how FF's trade explorer works for sure. At least not as far as how it figures entries and exits. You'll see on my tote that I use that the numbers are different, at least for this week. My chart only records actual closed trades as losses and then the floating profit/loss in the current section.

I did have 1 entry today that hit a pending sell stop (GbpAud). I'm sure the 17% profit is just the increase in floating profit for today. The weekly is confusing on the FF explorer. The number of entries/exits is correct,...
It is quite difficult for anyone to comprehend having a closed trade of negative profit to add on to its floating profit. Since this is a closed position, any profits or losses should not be added to the floating profit. Because this is a done deal trade, it is not "floating" anymore.

How to tell whether the floating profit is increasing over the weeks? Is there a figure where it indicates the net profit/loss if you decide to close all your positions? Or the floating profits can be interpreted as the net profit after you close all the positions?
  • #148
  • Jan 16, 2013 4:53pm Jan 16, 2013 4:53pm
The floating profit is what would be booked if you closed all entries. Then that would be added/subtracted from the account balance.
  • #149
  • Jan 16, 2013 5:41pm Jan 16, 2013 5:41pm
Quoting spyderman
The floating profit is what would be booked if you closed all entries. Then that would be added/subtracted from the account balance.
Generally most traders would have closed their profit trades, for the intention not to further lo$$ing.
You are good indeed.

Cheers
  • #150
  • Jan 16, 2013 9:30pm Jan 16, 2013 9:30pm
Quoting spyderman
No, I don't trade the lower time frames with this. I want to get into long term trends in line with Global sentiment. That takes a while to happen, get moving, and then to turn around. The lower the time frame the more 'market noise' you're going to get. Many news releases that have a shorter term effect are going to skew your results. For the news releases that have a longer term effect (market shift) you can incorporate into the long term trend.
Agree. I prefer higher time frames and this is also the way I love trading. New traders tend to get excited when they trade intraday charts (less than H1) because of quick pips but over the run they would lose more than they can win. There are too many false reversal signals down the smaller time frames and chances are we could always go wrong because we are trading against the trend from the upper time frames.
  • #151
  • Jan 17, 2013 6:58am Jan 17, 2013 6:58am
So we're seeing some nice resurgence in the Yen pairs today. I have several buy stops that may be triggered today. Also had triggers in the other euro crosses.

Analysts are predicted a rise in the U/J to 90 over the next months then as the Japan reduces their stimulus we may see it fall back to the 80 range. Who knows if they know, but it would be interesting to see that nice downtrend in the Jpy crosses this summer. Just need to be patient.
  • #152
  • Jan 17, 2013 3:47pm Jan 17, 2013 3:47pm
Pardon me for a brief indicator change request but, would some kind person consider updating the MA Cross indicator shared on post 4 to fix the alerting to only once per cross instead of every bar? I don't know MQL good enough to do it myself. Thanks Spyderman for sharing your system!
  • #153
  • Edited 5:18pm Jan 17, 2013 4:45pm | Edited 5:18pm
Quoting spyderman
So we're seeing some nice resurgence in the Yen pairs today. I have several buy stops that may be triggered today. Also had triggers in the other euro crosses.

Analysts are predicted a rise in the U/J to 90 over the next months then as the Japan reduces their stimulus we may see it fall back to the 80 range. Who knows if they know, but it would be interesting to see that nice downtrend in the Jpy crosses this summer. Just need to be patient.
Good trades!
Don't mind if you can post often with charts so that we can understand your entries and how you stack trades?
Thanks
  • #154
  • Jan 17, 2013 7:34pm Jan 17, 2013 7:34pm
Quoting msia.metal
Good trades!
Don't mind if you can post often with charts so that we can understand your entries and how you stack trades?
Thanks

Here's a couple of examples of recent entries and a pending I have on Gbp/Aud.

All others should feel free to post any charts or trade setups they may feel are valid.
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  • #155
  • Jan 17, 2013 7:38pm Jan 17, 2013 7:38pm
Quoting msia.metal
Good trades!
Don't mind if you can post often with charts so that we can understand your entries and how you stack trades?
Thanks
Not being a smart azz here, but really, spyderman is not here to spoon feed you. Go back and study Posts 1 , 2 and 46

Here is a link http://www.forexfactory.com/showthre...39#post6339639

And if you click on any of the trades in the Explorer, you will get the chart you so desire, see below.

The trade entries are ALL shown; have you drawn a line at those levels and had a look at where that entry might be on your own charts?

No, didn't think so. He trades the DAILY charts, that should be a great starting point.

There, I feel better now...

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It takes a lot for me to IGNORE you, but you can try.
  • #156
  • Jan 17, 2013 10:01pm Jan 17, 2013 10:01pm
Spyderman, I have a question. Do you ever open trades on Sunday? If you got a signal from Friday, would you open a trade when the markets open back up on Sunday?
  • #157
  • Jan 17, 2013 11:11pm Jan 17, 2013 11:11pm
Quoting Erebus
Not being a smart azz here, but really, spyderman is not here to spoon feed you. Go back and study Posts 1 , 2 and 46

Here is a link http://www.forexfactory.com/showthre...39#post6339639

And if you click on any of the trades in the Explorer, you will get the chart you so desire, see below.

The trade entries are ALL shown; have you drawn a line at those levels and had a look at where that entry might be on your own charts?

No, didn't think...
I think you can see the charts are not the original charts showing the entries and stacking. So I am not blind (unless you are??) but courtesy to request Spyderman for his kindness to post the charts to share. New traders will be benefited from his efforts (I am one for sure). I am a fair follower here - if he finds no need then it is ok. I do not need you to lecture me he is not here to "spoon feed" me.
  • #158
  • Jan 17, 2013 11:19pm Jan 17, 2013 11:19pm
Quoting spyderman
Here's a couple of examples of recent entries and a pending I have on Gbp/Aud.

All others should feel free to post any charts or trade setups they may feel are valid.
Thanks for the post, Spyderman.

Don't mind to share your thought on G/A. Even thou there is a Pin Bar Jan 10 at a level - showing a potential long trade, you would still go for short at the PB's low, based on Daily? Why?

Thanks for your time.
  • #159
  • Jan 18, 2013 2:35am Jan 18, 2013 2:35am
Quoting msia.metal
I think you can see the charts are not the original charts showing the entries and stacking. So I am not blind (unless you are??) but courtesy to request Spyderman for his kindness to post the charts to share. New traders will be benefited from his efforts (I am one for sure). I am a fair follower here - if he finds no need then it is ok. I do not need you to lecture me he is not here to "spoon feed" me.
First of all, I refer you to this quote:

Quoting spyderman
Well here we are on a brand new year. Hope all goes well with everyone in the coming trading year and beyond.

But first, the standard disclaimers:

This thread is not a signal service. I am not going to be giving my entries and exits on my trades. Do not trade this on a live account. If you do you will probably lose all of your money! You have been warned.
As for the Explorer chart not showing every entry, that is why I suggested plotting the entry lines on your own chart, take the information from the Explorer.

All I'm saying is, you need to do so work, some study, good luck

Hope I don't get banned by spyderman as I have just open a new demo to test this going forward, I can suggest a new broker with all 28 pairs, ECN spreads, if I am still around

It takes a lot for me to IGNORE you, but you can try.
  • #160
  • Jan 18, 2013 4:23am Jan 18, 2013 4:23am
Erebus
Perhaps stop and waste no more time.
Your points serve no educational.

p.s. Sorry all if I bore you.
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