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As Easy as "PI"

  • #241
  • Edited Jan 31, 2013 12:00am Jan 30, 2013 5:43pm | Edited Jan 31, 2013 12:00am
Hi Spyderman

Again it is en entry issue (case study).

As no sign of histogram > 0 was seen when candle "1?" closed, but when the candle closed "2?" the histogram is seen crossed < 0, should one take the short right away even thou the candle is at the confluence area, or wait for pull back?

Thanks for your time.

Happy Trading.
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  • #242
  • Jan 30, 2013 11:06pm Jan 30, 2013 11:06pm
Quoting orabi
great performance i wonder how many pips you pi hahahah
For a young doctor that is not very wise words - how do you help your people, laughing at them or helping them

John from Durban
  • #243
  • Jan 31, 2013 12:27am Jan 31, 2013 12:27am
Quoting jmcl
For a young doctor that is not very wise words - how do you help your people, laughing at them or helping them

John from Durban
thank you for your input you are right i have carried away a lot i apologize to all
my best wishes
focus while relaxed to see better
  • #244
  • Jan 31, 2013 6:26am Jan 31, 2013 6:26am
Quoting msia.metal
Hi Spyderman

Again it is en entry issue (case study).

As no sign of histogram > 0 was seen when candle "1?" closed, but when the candle closed "2?" the histogram is seen crossed < 0, should one take the short right away even thou the candle is at the confluence area, or wait for pull back?

Thanks for your time.

Happy Trading.
These are the situations where you a a trader will need to mold the system to your style. Either may be fine, however you may also see that downward movement several bars earlier and decide to jump in early. I've done that before. Or you may pull back and see that A/F is in a trading range and has tested this low twice recently. Now I don't believe price will turn around just because it hits a certain point on the chart, but that area of support may well indicate where the market feels it should not go any lower. What's happening in AUS and with the Franc right now. What would the market sentiment have you believe.

These are questions you need to ask and answer, especially when you have a pair that's ranging.

Just my thoughts
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  • #245
  • Jan 31, 2013 8:04pm Jan 31, 2013 8:04pm
Hi Spyderman

It is 04:00 here in South Africa. I must change my trading schedule to accommodate the daily time.

The re-entering, say in an uptrend, must the pullback candle retrace below the 7 ema line, in other words, cut the line ?

This matter is still grey for me.

Have a nice day

John from Durban
  • #246
  • Jan 31, 2013 8:26pm Jan 31, 2013 8:26pm
Quoting jmcl
Hi Spyderman

It is 04:00 here in South Africa. I must change my trading schedule to accommodate the daily time.

The re-entering, say in an uptrend, must the pullback candle retrace below the 7 ema line, in other words, cut the line ?

This matter is still grey for me.

Have a nice day

John from Durban
No, it just has to be an opposite candle. In an uptrend, once you get a red candle, then your set for another entry.
  • #247
  • Jan 31, 2013 8:38pm Jan 31, 2013 8:38pm
Quoting spyderman
No, it just has to be an opposite candle. In an uptrend, once you get a red candle, then your set for another entry.
Thank you

John
  • #248
  • Feb 1, 2013 2:19am Feb 1, 2013 2:19am
Hi Spyderman

Thank you for your system. I really don't understand how this thread is so quiet, when we have IMHO the best system I have ever seen (and I have seen a lot). Maybe people need a shorter TF in order to have quick gains (and quick losses)......... Anyway better like this, less to read everyday.

I'm waiting for funds to arrive to Dukascopy and next week I will start this gift.

Thanks again.

Cheers
  • #249
  • Feb 1, 2013 4:15am Feb 1, 2013 4:15am
Hello Spyder

Thank you for your system. I would like to add my testing report

1.First account which grown upto 35% since last month with 1% risk for SL 100 pip to 200 Pip Sl based on the potential of the trend

2.Second account which grown upto 32% in a week time but the risk was taken 3% with 85 to 125 pip stop

all are demo environment but seriously tested as live

i will give the demo id and password

1.Tadawul fx --login--999636553 investor password--d7sypmw

2.pepperstone demo login 75399 investor password--osp7swz
  • #250
  • Feb 1, 2013 5:32am Feb 1, 2013 5:32am
Spyderman,

Thank you so much for your system,I think finally i will be start to see success in my trading ,I have tried many systems and strategies but with no joy with this i this i can make progress most especially with the add on trades .

Thank you for your generosity.
I would also like to ask , do you open or trade on fridays or Do you take profit and wait till monday for new entries.

Thanks
  • #251
  • Feb 1, 2013 6:15am Feb 1, 2013 6:15am
Quoting Caillou
Hi Spyderman

Thank you for your system. I really don't understand how this thread is so quiet, when we have IMHO the best system I have ever seen (and I have seen a lot). Maybe people need a shorter TF in order to have quick gains (and quick losses)......... Anyway better like this, less to read everyday.

I'm waiting for funds to arrive to Dukascopy and next week I will start this gift.

Thanks again.

Cheers
Thanks Caillou,

Yeah this is not as exciting as some strategies with a lot of 'in the market - out of the market', and lot's of bells and whistles. So there's probably not much to talk about unless someone has a question. Boring strategy...just makes pips.

Hope it works for you.
  • #252
  • Feb 1, 2013 6:16am Feb 1, 2013 6:16am
Quoting forexbee07
Hello Spyder

Thank you for your system. I would like to add my testing report

1.First account which grown upto 35% since last month with 1% risk for SL 100 pip to 200 Pip Sl based on the potential of the trend

2.Second account which grown upto 32% in a week time but the risk was taken 3% with 85 to 125 pip stop

all are demo environment but seriously tested as live

i will give the demo id and password

1.Tadawul fx --login--999636553 investor password--d7sypmw

2.pepperstone demo login 75399 investor password--osp7swz
Great results Bee,

sounds like a good way to test it out.
  • #253
  • Feb 1, 2013 6:18am Feb 1, 2013 6:18am
Quoting neziah
Spyderman,

Thank you so much for your system,I think finally i will be start to see success in my trading ,I have tried many systems and strategies but with no joy with this i this i can make progress most especially with the add on trades .

Thank you for your generosity.
I would also like to ask , do you open or trade on fridays or Do you take profit and wait till monday for new entries.

Thanks
No take profit, just close above/below trailing MA. On long term trending strategy, I don't care what day of the week it is. That's the nice thing about the long term, it negates much of that type of market noise.
  • #254
  • Feb 1, 2013 9:01am Feb 1, 2013 9:01am
Hi all. Spidy..when you initiate a trade do you set SL&TP points at that time or do you just let them run..as it seems on your explorer listing at beginning of thread??
  • #255
  • Feb 1, 2013 9:07am Feb 1, 2013 9:07am
Spidy..ignore my last post, I went back to post 1 and re-read the entry/exit criteria...Thanks for a great method, I'm finally seeming to get profitable..
  • #256
  • Feb 1, 2013 9:08am Feb 1, 2013 9:08am
Quoting sfg7th
Hi all. Spidy..when you initiate a trade do you set SL&TP points at that time or do you just let them run..as it seems on your explorer listing at beginning of thread??
Again...no T/P. Initial 300 pip s/l for emergencies. Trail s/l at 15 pips or so behind the 22MA.
  • #257
  • Feb 1, 2013 9:53am Feb 1, 2013 9:53am
Quoting spyderman
No take profit, just close above/below trailing MA. On long term trending strategy, I don't care what day of the week it is. That's the nice thing about the long term, it negates much of that type of market noise.
Don't mind if ask.
How would one know a long term trade is to begin?

Is it when the histogram crossing 0?

###

I noticed many your thread followers asked your exit rule.
May be if you may post some charts to illustrate the exit rule?
  • #258
  • Feb 1, 2013 10:25am Feb 1, 2013 10:25am
Markets going crazy today...in a good way. Account's up 36% just today. Hope this keeps up.
  • #259
  • Feb 1, 2013 10:37am Feb 1, 2013 10:37am
Quoting msia.metal
Don't mind if ask.
How would one know a long term trade is to begin?

Is it when the histogram crossing 0?

###

I noticed many your thread followers asked your exit rule.
May be if you may post some charts to illustrate the exit rule?
Noone can predict what the markets will do. All you can do is look and see what has happened in the past, compare that to what you know about the market's current sentiment, and extrapolate on what direction things may go in the future. Go back and reread the first couple of pages. Look at the examples on the pairs that show good trending action. When I entered these JPY crosses, I certainly had no idea how far or fast they would trend. You never do.

The thing that makes this strategy work (at lease so far) isn't the entry signal, it's just participating in the trend and stacking positions. Are you going to lose on some trades...you bet. I'm in the hole thus far if you just count closed trades, because the losers close quickly. But you're trying to catch these long term trends that more then compensate for the losers. I still have many positions open that I took in Novemeber, some over 1200 pips now. That makes up for a lot of small losers.

As far as the close...you can see in the attached chart, I use an ea that trails my stop in relation to the 22 MA. Here on Eur/Gbp I have it set to trail the MA by 15 pips. The 22 MA right now is at .8411. The trailing stop is at .8396. As price moves up the stop will too. If price moves against me then it will close the trades.
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  • #260
  • Feb 1, 2013 1:45pm Feb 1, 2013 1:45pm
This long TF method is starting to grow on me, thanks for sharing Spyderman!
I've had a rocky experience trading 5M (see my thread in the rookie section: One hit wonder or am I on to something?).

I'm actually quite comfortable entering trades on D1 your way, since the stops are large enough to withstand considerable drawdowns.
Now I'm less nervous at work, since I don't have to monitor my jumpy 5M trades all the time. I can actually get some work done

Currently 4 trades are in the green for me. I'm well aware they could all turn around taking out my 150pip stops, but I stand to lose 5% of my balance. Hopefully they'll continue heading my way, getting me much more than 5%!
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