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Buy sell line trading

  • #2,521
  • Edited 8:05pm Jan 25, 2013 6:29pm | Edited 8:05pm
Quoting lhDT
1.7 spread, a bit high for scalping M1. Better try ECN (0.1 to 0.4 spread) with a commission (5 to 7$ per lot). It's about 50% cheaper.
This is an ECN. EU is 0.8-1.0p. The movement now on EJ is much better than EU, so the extra 0.8p means little (look at today's range on each). I am unaware of anything cheaper -- except for Oanda (already used them) and Pepperstone (doesn't allow US accounts) -- that is also US and regulated so that I feel safe with my dough. In S&P futures, it is common to scalp for 5 ticks per lot including 1 tick bid-ask spread, netting 4 ticks ($50), from which you then pay a commission of, say, $4 per lot. This is similar to paying 1.6p spread on EJ if I am targeting 6-10p, or 1R.
  • #2,522
  • Jan 25, 2013 6:56pm Jan 25, 2013 6:56pm
Quoting grooler
Is there any timeframe you don't trade? So far i've seen daily, 15 min, and now 1 min scalping. Thanks for all your posts and sharing from your experiences, and nice to see you posting again.
LO is midnight in my time zone. Therefore, unless I want to interrupt my beauty sleep, it makes it difficult to trade M15 and H1, and still get enough setups each day. M1 offers an ample supply of setups from 7-11 a.m. ET. So more out of necessity than anything else.
  • #2,523
  • Jan 25, 2013 7:36pm Jan 25, 2013 7:36pm
Quoting grooler
With that high of spread on gold, why not have an account to trade gold futures, with most brokers you can get in and out for $5 per contract.
yeah you are probably right, but there are the tax implications of not spread betting.
tradewith60
  • #2,524
  • Jan 26, 2013 3:54am Jan 26, 2013 3:54am
Quoting California
M1 scalping EJ (see chart).

I would normally only scalp EU, but EJ makes more sense nowadays due to the tremendous trends in all yen pairs. The wider spread is well worth it. While I always want to know what the 50sma is doing, I key off of the 20ema (longs above, shorts below). It is a perfect balance between too sensitive and not sensitive enough. My favorite retracements are back to the 20ema. Shallower retracements are fine as long as they touch the 9ema at minimum. Anywhere in the 9/20 gap. Type 2, IB's, commando entries preferred.

The...
Great post! Thank you.
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,525
  • Jan 26, 2013 6:35pm Jan 26, 2013 6:35pm
hi ryanklefas...new to threa..downloaded swiss army ea and accompanying pdf's..in one statement you state the EA cannot open orders on it's own, just manage open orders..but in the intro inproved statement indicates can modify pending orders?? also in features section indicates selected actions will be executed on followiiing type orders then list limit/ stop orders..please clarify for a newbie...really like the thread and excellent data/insights provided by all.
  • #2,526
  • Jan 28, 2013 6:01pm Jan 28, 2013 6:01pm
EJ cross trade M5 +42
Attached Image (click to enlarge)
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tradewith60
  • #2,527
  • Jan 28, 2013 8:37pm Jan 28, 2013 8:37pm
EJ M5 two hours after Tokyo open.
Attached Image (click to enlarge)
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  • #2,528
  • Jan 28, 2013 8:44pm Jan 28, 2013 8:44pm
EJ M1 just before LO and then two hours afterward.
Attached Image (click to enlarge)
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  • #2,529
  • Edited Jan 29, 2013 6:55pm Jan 28, 2013 8:59pm | Edited Jan 29, 2013 6:55pm
Attached is the trade entry/management ea I use for M1, M5. It allows you to quickly place the pending stop entry order, the pending s/l, and the pending t/p on the MT4 chart as three horizontal lines. These can then be dragged on the chart, either prior to entry or once the trade is live. I think it is much better and faster than the more popular one that is on FF, which I tested and found annoying. With this one, it helps to know your s/l in pips beforehand to make it a quick process. However, if you are trading M1, chances are you are using about the same s/l on many of your trades. So that step can be eliminated.

If I could not use something like this, I would not even be trading M1, since the entry is much more critical to this TF.

Please direct any questions on this to me via PM.
Attached File(s)
File Type: ex4 VE_AIMS.ex4   16 KB | 497 downloads
File Type: pdf Chart Based Trade Management EA.pdf   192 KB | 1,502 downloads
  • #2,530
  • Jan 28, 2013 9:38pm Jan 28, 2013 9:38pm
Quoting California
EJ M1 just before LO and then two hours afterward.
haha nice stuff Cali... and cheers for the EA
tradewith60
  • #2,531
  • Edited 12:20am Jan 29, 2013 12:09am | Edited 12:20am
EJ M5 1.5 hrs before FO
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M5 012813-2.gif Size: 51 KB
  • #2,532
  • Jan 29, 2013 12:17am Jan 29, 2013 12:17am
Quoting 60minuteman
haha nice stuff Cali... and cheers for the EA
Thx, mon!

Someone wanted me to provide the momentum indi. I had it custom made, but it is essentially a MACD with the histo removed plus two additional features.
Attached File(s)
File Type: ex4 MACD Custom.ex4   9 KB | 492 downloads
  • #2,533
  • Jan 29, 2013 4:46am Jan 29, 2013 4:46am
BRENT FUTURES M5...

previous day closed down... retest and rejection of ma's
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-01-29 at 10.36.52.jpg Size: 58 KB
tradewith60
  • #2,534
  • Jan 29, 2013 5:59am Jan 29, 2013 5:59am
Quoting California
EJ M5 1.5 hrs before FO
Grate charts and very informative love the way you talk through your trades, very enlightening for me many thanks.
  • #2,535
  • Jan 29, 2013 9:22am Jan 29, 2013 9:22am
Quoting California
Thx, mon!

Someone wanted me to provide the momentum indi. I had it custom made, but it is essentially a MACD with the histo removed plus two additional features.
nice little scalping system Cali
tradewith60
  • #2,536
  • Jan 29, 2013 12:02pm Jan 29, 2013 12:02pm
I like your new web page, mate. cool stuff!

What I miss, is the engulfing pattern though...
  • #2,537
  • Jan 29, 2013 12:14pm Jan 29, 2013 12:14pm
Quoting Olarion1975
I like your new web page, mate. cool stuff!

What I miss, is the engulfing pattern though...
yeah I need to do one for the engulf, type 2 and OB
tradewith60
  • #2,538
  • Jan 29, 2013 1:26pm Jan 29, 2013 1:26pm
Just had a chance to check out the new site 60MM. Good stuff!!!
  • #2,539
  • Jan 30, 2013 8:00am Jan 30, 2013 8:00am
Hi All - congratulations on the thread. Good guys here who are obviously 'smashing it' with regards to their trading. And there is no quibbles over EAs either

Looking for some feedback on the mindset of the guys here who scanning for entries. 2 charts for consideration:

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In each case when we can see a downtrend / uptrend really get into it's groove.

1) We're looking for a pullback to close to the MA's
2) An engulfing or a type 2 entry to pull the trigger.

3) When a market begins an impulse move we should NEVER jump on board - but always wait a safe point to enter (the retrace)

Of course, it's heartening to see results of successful trades. PA always looks so *obvious* after the event has happened.

I am not looking at all for a signal service (and wouldn't expect anyone to provide it) - but it would be fantastic to see the thoughts of the guys who are looking for specific PA at specific, predefined levels AHEAD of the action, or lackthereof.

Cheers...
  • #2,540
  • Jan 30, 2013 8:34am Jan 30, 2013 8:34am
Hi Ferrer..

here are some odds enhancers I use..

1. wait for retraces to the ma's, the more extended (away) from the ma's we get the less probability of a continued move.

2. The first retrace to the ma's is high probability, with each bounce/retrace the more likely a correction becomes.

3. Did the last bounce make a new high/low?

to summarize, the price action is important, but the location and state of the trend are equally important, if not more so...

There are some new entry ideas i have posted on my web site, a trend reversal entry and a lower tf scalping idea... give them a look..

Also look out for outside bars at retrace points with trend... very good signals




Quoting S_Ferrer
Hi All - congratulations on the thread. Good guys here who are obviously 'smashing it' with regards to their trading. And there is no quibbles over EAs either

Looking for some feedback on the mindset of the guys here who scanning for entries. 2 charts for consideration:

Attachment

Attachment

In each case when we can see a downtrend / uptrend really get into it's groove.

1) We're looking for a pullback to close to the MA's
2) An engulfing or a type 2 entry to pull the trigger.

3) When a...
tradewith60
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