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  • #1,041
  • Mar 4, 2013 9:58am Mar 4, 2013 9:58am
Quoting snail69
Olarion how do you set size of stop ?
Currently, I use 20%-22% of the daily ATR(5) smoothed with the 5 period ema for my intraday trading (as SP explained in his posts).
Then I set the position size accordingly, risk is always 1% (1R).

For the trades from the weekly high and low I use the weekly ATR(4) smoothed with a 4 period ema.
  • #1,042
  • Mar 4, 2013 6:00pm Mar 4, 2013 6:00pm
hi guys, a good start to the week with e/u and oil, i trade very similar to you but i do not do the retrace part, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,043
  • Mar 4, 2013 6:46pm Mar 4, 2013 6:46pm
Quoting billytt
hi guys, a good start to the week with e/u and oil, i trade very similar to you but i do not do the retrace part, be good
Billy would you post some chart ?
  • #1,044
  • Mar 4, 2013 7:39pm Mar 4, 2013 7:39pm
Quoting snail69
Billy would you post some chart ?
if its ok wth seneca ican post a chart
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,045
  • Mar 4, 2013 8:00pm Mar 4, 2013 8:00pm
Quoting billytt
if its ok wth seneca ican post a chart
No problem with it. Please take the time to explain to the readers why you take the trade and your stops and targets etc.
  • #1,046
  • Mar 4, 2013 8:14pm Mar 4, 2013 8:14pm
Quoting Olarion1975
Currently, I use 20%-22% of the daily ATR(5) smoothed with the 5 period ema for my intraday trading (as SP explained in his posts).
Then I set the position size accordingly, risk is always 1% (1R).

For the trades from the weekly high and low I use the weekly ATR(4) smoothed with a 4 period ema.
Olarion

Nice work. Are you using a fixed t/p, e.g. 2R, 3R?
  • #1,047
  • Mar 4, 2013 10:22pm Mar 4, 2013 10:22pm
Another indy for levels.
Attached File(s)
File Type: ex4 mn DWM.ex4   4 KB | 300 downloads
File Type: mq4 mn DWM.mq4   2 KB | 507 downloads
  • #1,048
  • Mar 5, 2013 12:49am Mar 5, 2013 12:49am
Seneca, do you take the breakout and retest for the opening range even if it happens late in the NY session like yesterday?
Or do you only take the entry until London Close?
  • #1,049
  • Mar 5, 2013 12:53am Mar 5, 2013 12:53am
Quoting California
Olarion

Nice work. Are you using a fixed t/p, e.g. 2R, 3R?
Thank you, mate.
I try to aim for at least 2R, but I am flexible. If price begins to stall at a key level I might exit and re-enter if the level is broken.
  • #1,050
  • Mar 5, 2013 1:03am Mar 5, 2013 1:03am
Quoting Seneca pilot
Yes it was nice trading last night. Good returns. Be careful not to let your position sizes get too big or take too many correlated trades.
Talk about correlation! What is happening to EU and GU? So -vely correlated.
  • #1,051
  • Edited 1:23am Mar 5, 2013 1:12am | Edited 1:23am
Quoting snail69
Another indy for levels.
This is cooler. Can we add a place to put some description for the lines. Maybe right aligned(to the extreme right of the platform).
  • #1,052
  • Mar 5, 2013 1:28am Mar 5, 2013 1:28am
Quoting square1
This is cooler. Can we add a place to put some description for the lines. Maybe right aligned(to the extreme right of the platform).
It might be done, but I am not an IT guy.
  • #1,053
  • Mar 5, 2013 1:30am Mar 5, 2013 1:30am
Olarion, do you start to look for levels after FO or after LO only.
  • #1,054
  • Mar 5, 2013 1:35am Mar 5, 2013 1:35am
Quoting snail69
Olarion, do you start to look for levels after FO or after LO only.
With me, i start looking at other levels only after LO, because i know price will be heading for those levels.
  • #1,055
  • Mar 5, 2013 1:57am Mar 5, 2013 1:57am
Quoting snail69
Olarion, do you start to look for levels after FO or after LO only.
This is what I do:

  1. 5.00 am GMT: I get up and set my levels (2 hours before FO): daily open, previous day's high + low, previous London Close and NY Close
  2. On Mondays 5.00, I additionally set my weekly levels (high, low, open, close)
  3. I begin looking for entries from the high's/low's and session closes and set my pending limit orderrs
  4. 5:30 am GMT: I begin looking for entries from the daily open (if the high / low or a session close was not hit before)

  • #1,056
  • Edited 7:32am Mar 5, 2013 2:00am | Edited 7:32am
Just wanted to say that I think those of us , using brokers (for charting) that the week opening for them is sunday (and not monday) , and so, they all have a small daily candle of sundays on the charts, I feel that this small sunday candle can fuck up the ATR.
Since sunday is not a real trading day, and the ATR indicator (I don't really know but I strongly suspect) can NOT exculde a candle just because it's life time was only a few hours long, then the average of the last 5 days will be totally different.

For example IBFX Australia has this sunday candle on every chart and the EU daily ATR (5) is now :68 (the 5EMA is 94)
At the same time on AlpariUK who don't have sunday candles the EU daily ATR(5) is now: 85 (the 5EMA is 112)
I know it's not "the heart" of the way we trade here, and it won't have a great influence on us if we trade the levels right, but still...


(By the way this is one more reason why indicators are not to be trusted for trading. Any little missing data or just one missing candle can totally change the story those lagging indicators tell you)
"Always be yourself " Batman
  • #1,057
  • Mar 5, 2013 2:02am Mar 5, 2013 2:02am
Forgot to mention, that I set my levels manually and name the lines.
I saved every pair as a template and drag the lines to the new positions every morning and save again.
  • #1,058
  • Mar 5, 2013 2:18am Mar 5, 2013 2:18am
Quoting snail69
Billy would you post some chart ?

Hi snail, i was going to stick a chart on but as the e/u is moving more than i would like i am not. My normal trade would be on 15 min time frame on uk open at 08-00 uk time and i would sell or buy aggressively on the high or low of the 15 min . That is the simple way and then i sometimes use the high/low of the aussie,jpn, frankfurt to use as a chanel
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,059
  • Mar 5, 2013 2:22am Mar 5, 2013 2:22am
Quoting square1
Talk about correlation! What is happening to EU and GU? So -vely correlated.
Ohhh! it hasnow started behaving normally.
  • #1,060
  • Mar 5, 2013 3:09am Mar 5, 2013 3:09am
Quoting snail69
Great info here Seneca !

It might be helpful to somebody.
Hello snail69, many thanks for sharing these indies..but is it posible to have these indies en .mq4 ? , couldnīt open .ex4 files on my broker..
Thank you very much
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