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Symphonie Trader System

  • #16,861
  • Feb 12, 2013 3:58am Feb 12, 2013 3:58am
So far for me two trades today and both hit my sl
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  • #16,862
  • Feb 12, 2013 4:00am Feb 12, 2013 4:00am
Is it bearish pennant on GBP/USD? placed my pending order according to my re-enter strategy
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  • #16,863
  • Feb 12, 2013 4:03am Feb 12, 2013 4:03am
Quoting fugly
So far for me two trades today and both hit my sl

Yes. I know the feeling. My second order never execute.....but it is for the best because it seem price aktion reverse.

Evaluator.:nerd:
  • #16,864
  • Feb 12, 2013 4:58am Feb 12, 2013 4:58am
I love when markts finally trend.....!

Evaluator.:nerd:

P.S. The lower buys are Symphonie in 1M.....!
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  • #16,865
  • Feb 12, 2013 4:58am Feb 12, 2013 4:58am
Evaluator yes you must have gone through this feeling many many times ..... thx for your support ..... guess its only to be expected as i'm in the learning phase of this system and also new to 5min charts so I guess its to be expected.

Well third order was executed .... just would like to ask you which exit (1,2 or 3 from the first post) are you are currently using?

Also in the chart you posted above do you have 4 buy orders? Are these orders part of the symphonie system?

thx
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  • #16,866
  • Feb 12, 2013 5:00am Feb 12, 2013 5:00am
Quoting fugly
Evaluator yes you must have gone through this feeling many many times ..... thx for your support ..... guess its only to be expected as i'm in the learning phase of this system and also new to 5min charts so I guess its to be expected.

Well third order was executed .... just would like to ask you which exit (1,2 or 3 from the first post) are you are currently using? thx

I am doing a mixed exit. 1/2 on Sentiment and the 2/2 on trend colour change.

As to the number of order. I actually have 6. 2 orders are regular 5M Symphonie and the others are mini lots that I am taking in 1 M then stoploss protect at 10 pips then I am exit on 5M change.

Why 1M? Because once you see a pattern you just play the pattern and one can catch good turns for better position. HOWEVER, this takes alot of practice to get correct!!!!

Evaluator.:nerd:
  • #16,867
  • Feb 12, 2013 5:14am Feb 12, 2013 5:14am
To better explain how I am doing this the below screenshot should explain but again this is very advanced and I recommend NOT using 1M until you can know and master it. Once you have the pullback and a clear bottom signal ( in this example dojo candlebar) the risk is usually low and success high in play 1M in one direktion.

Evaluator.:nerd:
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  • #16,868
  • Feb 12, 2013 6:02am Feb 12, 2013 6:02am
Very clear explanation ... thx ... will aspire for this once I'm consistent on the 5min.
  • #16,869
  • Feb 12, 2013 7:21am Feb 12, 2013 7:21am
BEWARE.....

Mario Draghi to speak in Espana (Spain) 13:15 (GMT)today about Banking System. There are sure to be flux in EURUSD.

Evaluator.:nerd:
  • #16,870
  • Feb 12, 2013 7:48am Feb 12, 2013 7:48am
Evaluator are you keeping your current orders which are in profit open or closing them? Will you take any new trades after he begins speaking
  • #16,871
  • Feb 12, 2013 7:53am Feb 12, 2013 7:53am
Quoting fugly
Evaluator are you keeping your current orders which are in profit open or closing them? Will you take any new trades after he begins speaking

The ones in heavy profit I take off 1/2 the others are mini lots so I let them run with protected Stoploss so I only lose profit it it move against me.

Evaluator.:nerd:
  • #16,872
  • Feb 13, 2013 1:32am Feb 13, 2013 1:32am
Well I didn't get any trades after Draghi's speech yesterday, today so far market seems extremely choppy, Evaluator are you in any trades today?
  • #16,873
  • Feb 13, 2013 2:44am Feb 13, 2013 2:44am
Quoting fugly
Evaluator are you in any trades today?
fugly,

Here is my trades this morning. Taking them as they show.

Evaluator.:nerd:
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  • #16,874
  • Feb 13, 2013 3:55am Feb 13, 2013 3:55am
Evaluator, thx seems i may have got the same signal as you on one of the trades so hopefully I'm understanding the system but I moved my sl to BE at +10 as per the rules so might get stopped out but that's ok money missed is better than money lost.

Can you please comment if the entry is correct? thx
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  • #16,875
  • Feb 13, 2013 4:07am Feb 13, 2013 4:07am
Quoting fugly
Evaluator, thx seems i may have got the same signal as you on one of the trades so hopefully I'm understanding the system but I moved my sl to BE at +10 as per the rules so might get stopped out but that's ok money missed is better than money lost.

Can you please comment if the entry is correct? thx

fugly,

I have order in same place as you. You are on it!

Evaluator.:nerd:
  • #16,876
  • Feb 13, 2013 4:24am Feb 13, 2013 4:24am
Here is why Symphonie is so powerful a tool to have in one's trader toolbox. The circle represent the order signal levels and the square represent where one would place pending. As any row change colour you delete pending and wait next signal. So when order is finally filled notice what happen to price aktion....BOOM!

Symphonie is not telling one the counter trade it seek to stay with the overall trending action. So, using the default settings in 5M you will have many pending orders cancel before the price aktion finally break and using Symphonie; one have pending orders there to catch the movement.

Evaluator:nerd:
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  • #16,877
  • Feb 13, 2013 4:50am Feb 13, 2013 4:50am
OK. I know your next question.

Why does your matrix different than default??

Simple....there are multiple different settings from the optimization chart to choose from that decrease and increase the sensitivity of the Symphonie Matrix. In this case, using the default would result in a better entry point than my settings because I am look more to the swings of a price movement and try to more closely choose the actual turn points. The default settings (5M) are just that...the best overall optimized settings to keep one in the trend in 5M charts.

Therefore, because I use one of the other optimized settings that are more sensitive my charts will reflect more direktion changes which can open me up to more whipsaw trouble.

Why open yourself up to more whipsaw false signal???

Answer, I am more open to risks and therefore my risk tolerences are higher and I am ok to gamble alittle more than the defaults. In this example look at the last two entries. I get two signals to enter a strong uptrend versus only 1 with default settings. Twice the orders; twice the risk; twice the REWARD! So it comes down to the amount of risk tolerence one has to gamble.

I hope that answers your question...before you ask them.

Evaluator.:nerd:

P.S. below is my chart....
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  • #16,878
  • Feb 13, 2013 5:17am Feb 13, 2013 5:17am
Evaluator thx for the explanation regarding the signals and your reasons for changing the settings, just wanted to ask in the second signal on the chart would you not have been stopped out at BE+1 as per the mew exit rules? I was stopped out which is fine for me and have entered another pending order 5 pips above the next signal i got.

My observation is the 5 pip pending order rule is more important than just taking the signals .... is this correct?


edit:I have now deleted the pending buy order as the sentiment indicator turned red and am waiting for the next signal
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  • #16,879
  • Edited 6:02am Feb 13, 2013 5:21am | Edited 6:02am
Quoting fugly
Evaluator thx for the explanation regarding the signals and your reasons for changing the settings, just wanted to ask in the second signal on the chart would you not have been stopped out at BE+1 as per the mew exit rules? I was stopped out which is fine for me and have entered another pending order 5 pips above the next signal i got.

My observation is the 5 pip pending order rule is more important than just taking the signals .... is this correct?


edit:I have now deleted the pending buy order as the sentiment indicator turned red and am waiting...
My order never reached 10 pips (no move stoploss) and the pullback was less than 30 pips stoploss. Also, because of broker restrictions and the spread my pending orders are 7 pips away not 5. 5 is the min distance and then you must add the 2 for the spread to make 7.
  • #16,880
  • Feb 13, 2013 6:51am Feb 13, 2013 6:51am
stopped out for -30, and two trades stopped out at B/E so far today.
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