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As Easy as "PI"

  • #181
  • Jan 21, 2013 4:39pm Jan 21, 2013 4:39pm
Well, we should know after tonight on the near term direction on the Jpy pairs.
  • #182
  • Jan 21, 2013 11:16pm Jan 21, 2013 11:16pm
Quoting spyderman
Well, we should know after tonight on the near term direction on the Jpy pairs.
Yeap... it was very volatile an hour ago on Yen!
  • #183
  • Jan 22, 2013 7:35am Jan 22, 2013 7:35am
Quoting msia.metal
Yeap... it was very volatile an hour ago on Yen!

The BOJ's announcement on easing wasn't quite as bold as many had hoped. So that spurred a selloff. We may get a consolidation here while the market sorts out its thoughts. Definitely worth keeping an eye on it.
  • #184
  • Jan 22, 2013 7:52am Jan 22, 2013 7:52am
Hi Spyderman,

Nice thread, I've been following with interest for a while.

I have a question regarding your stops. Where did you come up with a 300 pip stop? I've been experimenting with a similar strategy using a 100 pip stop but getting stopped out too often. Thinking of increasing to 250 but wondered if u had done any research to come up with 300. I'm wondering if it may be sensible to look at ATR for each pair I trade and have a different stop loss amount for each pair which moves with current volatility? Any thoughts?

Keep up the good work.

Suntan
  • #185
  • Jan 22, 2013 9:01am Jan 22, 2013 9:01am
Quoting suntan
Hi Spyderman,

Nice thread, I've been following with interest for a while.

I have a question regarding your stops. Where did you come up with a 300 pip stop? I've been experimenting with a similar strategy using a 100 pip stop but getting stopped out too often. Thinking of increasing to 250 but wondered if u had done any research to come up with 300. I'm wondering if it may be sensible to look at ATR for each pair I trade and have a different stop loss amount for each pair which moves with current volatility? Any thoughts?

Keep up the good work.

Suntan...
As I've mentioned my stop loss is for emergency only. I don't want it to ever have to trigger. You should get an exit signal from the MA's/MACD before it hitting. It's just there for emergencies. 300 seems to be far enough so that retracements don't take them out.

There's always exceptions. Last night the GbpJpy dipped down and took out the stop on my most recent position by 2 pips. Now it seems to be turning back around. such is trading.
  • #186
  • Jan 23, 2013 5:46am Jan 23, 2013 5:46am
Hi Spyderman,
I was checking your trade history, and i was wondering why you didn t add a trade on EUR/GBP on 17 january ( check the attachement) ?
best
Toinou
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.JPG Size: 77 KB
  • #187
  • Jan 23, 2013 7:00am Jan 23, 2013 7:00am
Quoting toinou21
Hi Spyderman,
I was checking your trade history, and i was wondering why you didn t add a trade on EUR/GBP on 17 january ( check the attachement) ?
best
Toinou
I did, at .83301. It's up there.
  • #188
  • Jan 23, 2013 7:04am Jan 23, 2013 7:04am
Well, this move back on the Yen pairs took out my stops on the Eur and Gbp crosses. Time will tell if that was a blessing or a curse. Up until yesterday I didn't have those stops pulled up to within 300 pips. If it turns out to be a mistake I may have to not trail stops and just move to BE after a big trend establishes itself. Hard to know. Anyways, it banked about 5800 pips.
  • #189
  • Jan 23, 2013 8:06am Jan 23, 2013 8:06am
hi spyderman, after i view your trade report, i found out that almost all of the winning trades is with the yen, may i know is this system work best with the yen? it seems doesnt works so good with other currency, may i know is this true?
  • #190
  • Jan 23, 2013 8:06am Jan 23, 2013 8:06am
oh Sorry i didn't see it. I'm not used to Forex factory trade list.
Anyway I will follow carefully this thread it s really interesting.
Toinou
  • #191
  • Jan 23, 2013 8:31am Jan 23, 2013 8:31am
Quoting njc1622
hi spyderman, after i view your trade report, i found out that almost all of the winning trades is with the yen, may i know is this system work best with the yen? it seems doesnt works so good with other currency, may i know is this true?

No, not necessarily. This is a long term trend system. Different pairs trend at different times. Right now the Yen pairs are in a big trend. I also have several solid positions in some Gbp and Nzd crosses. If you look back over the last couple of years you should be able to see a variety of pairs that would have done well, which may indicate they could in the future.
  • #192
  • Jan 23, 2013 8:57am Jan 23, 2013 8:57am
Hi,

I just came across your wonderful and so simple but powerful thread yesterday.


And I saw a few replies regarding how many pips the stop loss should be away. Further to that I did bit of analysis on daily change (in pips) on audcad and audchf. I did this to find out how much has the market moved if we take extreme cases to set our stop loss, especially on daily basis only.

For audcad, the max it moved down was 148 pips, while max it moved up was 143.
For audchf, the max it moved down was 444 and max it moved up was 805.

I may be wrong, but if not, hope this helps to understand extreme moves in last 2 years or so.

Let me know if you guys want the spreadsheet.

It would be worth to know what pairs follow good trend, but agan this can been easily seen on a chart... so I didn't work hard on excel for this

All the best, I am keen to get grips with this strategy...
  • #193
  • Jan 23, 2013 11:44am Jan 23, 2013 11:44am
Quoting toinou21
oh Sorry i didn't see it. I'm not used to Forex factory trade list.
Anyway I will follow carefully this thread it s really interesting.
Toinou
Check "Show Surrounding Trades"
Attached Image (click to enlarge)
Click to Enlarge Name: Noname__2012_13_01_24.png Size: 46 KB
  • #194
  • Jan 23, 2013 12:49pm Jan 23, 2013 12:49pm
Quoting RisingSun
Check "Show Surrounding Trades"
Thank you, it s much easier now
  • #195
  • Jan 23, 2013 5:30pm Jan 23, 2013 5:30pm
Quoting spyderman
Well, this move back on the Yen pairs took out my stops on the Eur and Gbp crosses. Time will tell if that was a blessing or a curse. Up until yesterday I didn't have those stops pulled up to within 300 pips. If it turns out to be a mistake I may have to not trail stops and just move to BE after a big trend establishes itself. Hard to know. Anyways, it banked about 5800 pips.
Sometimes I think it would be better to have a target for each add on trade, say ADR or 2 x ADR or something, depends on strength of each trend I suppose - that way, if the trend continues, pips are banked and there are even more add on trades; when the reversal finally comes, exposure will be less, hopefully already covered by profit up to that point.

This is the fallacy that I see in back testing, sure a method may be proven to work, but nobody knows the future, and trends will not be the same, not the same pairs, not at the same time. This can be proven in stock market, where you begin your portfolio in the cycle can make a huge difference.

Have a good day, E.
It takes a lot for me to IGNORE you, but you can try.
  • #196
  • Jan 23, 2013 6:30pm Jan 23, 2013 6:30pm
Great trading Spyderman! Keep up the excellent work! Here is a little addition to your already proven powerful concept.

Here I took the liberty to add a 128 period EMA (dark blue) for a typical cycle baseline, then added the two Heiken Ashi Smoothed candles, first the 7,22 cross and then the 7,128 cross. It just cleans up the perspective of price during those times of consolidation and helps aid in seeing those turning points a little easier for me. Otherwise, Thanks for your posts!!!

Thanks,

sjc
Attached Image (click to enlarge)
Click to Enlarge Name: Spydy with Heiken Ashi smoothing.jpg Size: 119 KB
  • #197
  • Jan 23, 2013 6:51pm Jan 23, 2013 6:51pm
couple more...4 hour and Daily, both of Euro Yen as it seems to be the pair most are watching.

thanks,

sjc
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Spydy with Heiken Ashi smoothing.jpg Size: 125 KB
Click to Enlarge Name: Spydy 4hr.jpg Size: 104 KB
  • #198
  • Jan 23, 2013 7:25pm Jan 23, 2013 7:25pm
continued with Weekly Persepctive
Attached Image (click to enlarge)
Click to Enlarge Name: Spydy Weekly Perspective.jpg Size: 166 KB
  • #199
  • Jan 23, 2013 7:54pm Jan 23, 2013 7:54pm
Quoting spyderman
Well, this move back on the Yen pairs took out my stops on the Eur and Gbp crosses. Time will tell if that was a blessing or a curse. Up until yesterday I didn't have those stops pulled up to within 300 pips. If it turns out to be a mistake I may have to not trail stops and just move to BE after a big trend establishes itself. Hard to know. Anyways, it banked about 5800 pips.
WOW - 5800
  • #200
  • Jan 23, 2013 7:56pm Jan 23, 2013 7:56pm
Quoting Coondawg71
Great trading Spyderman! Keep up the excellent work! Here is a little addition to your already proven powerful concept.

Here I took the liberty to add a 128 period EMA (dark blue) for a typical cycle baseline, then added the two Heiken Ashi Smoothed candles, first the 7,22 cross and then the 7,128 cross. It just cleans up the perspective of price during those times of consolidation and helps aid in seeing those turning points a little easier for me. Otherwise, Thanks for your posts!!!

Thanks,

sjc
Hi Coondawg

I think you should open up a new thread to share your trading philosophic?
Very nice HA Smoothed displayed.
Indeed a trend indicator.
Care to share the HA Smoothed indicator?

Cheers
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