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  • #2,261
  • Apr 10, 2013 9:24am Apr 10, 2013 9:24am
Quoting tdforex
Ok, this explains! I was looking London close all the time, because it is GU
Yes I only use London close from the previous day I don't go back any farther than that.
  • #2,262
  • Apr 10, 2013 9:45am Apr 10, 2013 9:45am
hi guys, hope you have had a good day. I been ok but i got busted on the u/j when it fell... i had shorted it but for some reason my pc froze and i could not get out of trade when it rose. My backup pc wouldnt let me access the broker nor could i get on with mobile. Oh wel strange things happen
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,263
  • Apr 10, 2013 9:57am Apr 10, 2013 9:57am
Quoting Seneca pilot
When I say the Friday close I mean the Friday NY close. On my feed the Friday NY close on GU was 1.53248.
SP, as I know, you don't trade daily close except London close for GU. Am I right?
Btw, 1.3089 is today open level for EU, was it a loser if I longed it at GMT12:00?
  • #2,264
  • Apr 10, 2013 10:06am Apr 10, 2013 10:06am
Quoting kk007
SP, as I know, you don't trade daily close except London close for GU. Am I right? Btw, 1.3089 is today open level for EU, was it a loser if I longed it at GMT12:00?
I only really use London close for GU and GJ.

The daily open on EU produced a loss on the initial short this morning. The Tuesday high was a short trade and is in floating profit right now. I would not take the daily open long after shorting from the previous day high as I would expect the stronger level to break below the open as it did today.

EJ was the better trade today as the yen has been the driving force in the market of late. EJ was a perfect daily open trade up to the Tuesday high producing 2/1 profit. GJ and GU both had excellent trades down from the Tuesday highs as well. Today as with most days if you traded at least one pound pair and one euro pair you would have profits for the day. Easy peezy.

I did not trade today at all. My children have a doctor visit today for a check-up so I traded Asia last night for a nice quick gain and went to sleep. I feel refreshed.
  • #2,265
  • Apr 10, 2013 10:16am Apr 10, 2013 10:16am
Quoting Seneca pilot
I only really use London close for GU and GJ. The daily open on EU produced a loss on the initial short this morning. The Tuesday high was a short trade and is in floating profit right now. I would not take the daily open long after shorting from the previous day high as I would expect the stronger level to break below the open as it did today. EJ was the better trade today as the yen has been the driving force in the market of late. EJ was a perfect daily open trade up to the Tuesday high producing 2/1 profit. GJ and GU both had excellent trades...
Thanks!
  • #2,266
  • Apr 10, 2013 10:23am Apr 10, 2013 10:23am
There is an interesting question about the stats at myfxbook. In the information column to the left of the growth graph the second section down shows daily, monthly, and drawdown stats. None of these are equal to my actual stats. I have to assume that these are projections based on the partial months that I have traded. I certainly have not shown a monthly gain of 25.68%. I have certainly not had a draw down of 7.49% and hope I never do. Can anyone confirm for me that these are projections based on the actual numbers because they are definitely not anything I have actually posted. I would love to get a monthly gain of 25% and I have done it before but not in this case yet. I have looked over the site but cannot find where the computations for these numbers come from.

https://www.myfxbook.com/portfolio/mh60l/522675
  • #2,267
  • Apr 10, 2013 10:45am Apr 10, 2013 10:45am
Quoting Seneca pilot
There is an interesting question about the stats at myfxbook. In the information column to the left of the growth graph the second section down shows daily, monthly, and drawdown stats. None of these are equal to my actual stats. I have to assume that these are projections based on the partial months that I have traded. I certainly have not shown a monthly gain of 25.68%. I have certainly not had a draw down of 7.49% and hope I never do. Can anyone confirm for me that these are projections based on the actual numbers because they are definitely...
The numbers are (must be) projections.
  • #2,268
  • Edited 11:01am Apr 10, 2013 10:51am | Edited 11:01am
Quoting Seneca pilot
There is an interesting question about the stats at myfxbook. In the information column to the left of the growth graph the second section down shows daily, monthly, and drawdown stats. None of these are equal to my actual stats. I have to assume that these are projections based on the partial months that I have traded. I certainly have not shown a monthly gain of 25.68%. I have certainly not had a draw down of 7.49% and hope I never do. Can anyone confirm for me that these are projections based on the actual numbers because they are definitely...
You have growth of 14.38% in about 17 days, 25.89% for 30 days (1 month) should be the approx. projection value. If you want to know the calculation, I can tell you in the next post.

About the drawdown, I am not completely sure.. but it seems to be the projection of your accumulated drawdown made. You have an accumulated drawdown of 4.41% in about 17 days, 7.49% may be the accumulated drawdown projected for the month.
  • #2,269
  • Apr 10, 2013 10:57am Apr 10, 2013 10:57am
[quote=diamonddbw;6591278]Thanks to SP & all those others that Contribute Thoughtful suggestions, I am currently researching EJ & how it likes to play about Sydney open. It does seem to use this market opening as a sort of Base level,




Hi bud, i am always running tests especially in the night hours uk time (sad) you are right ,,it is possible to see goings on thats why i test, and they do shift, always try and stay one step ahead
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,270
  • Apr 10, 2013 11:12am Apr 10, 2013 11:12am
[quote=billytt;6592214]
Quoting diamonddbw
Thanks to SP & all those others that Contribute Thoughtful suggestions, I am currently researching EJ & how it likes to play about Sydney open. It does seem to use this market opening as a sort of Base level,

billytt,
Hi bud, i am always running tests especially in the night hours uk time (sad) you are right ,,it is possible to see goings on thats why i test, and they do shift, always try and stay one step ahead
++++++++++++++++++++++++++++++++

Shift, as in relation to how often this level works or not?
Thanks, D
  • #2,271
  • Apr 10, 2013 11:25am Apr 10, 2013 11:25am
Quoting kk007
You have growth of 14.38% in about 17 days, 25.89% for 30 days (1 month) should be the approx. projection value. If you want to know the calculation, I can tell you in the next post. About the drawdown, I am not completely sure.. but it seems to be the projection of your accumulated drawdown made. You have an accumulated drawdown of 4.41% in about 17 days, 7.49% may be the accumulated drawdown projected for the month.
My maximum draw down for the period was 2.38%. You would have to add all the small draws below the start value and below the high water marks to come up with the number that they have. I guess you are right it is a cumulative value. Misleading stat. This gives the impression that I have had draw down equal to half the gains and that is not the case. I have an account on another site that tracks stats and they have it correct. Interesting.
  • #2,272
  • Apr 10, 2013 11:26am Apr 10, 2013 11:26am
[quote=diamonddbw;6592276]
Quoting billytt
++++++++++++++++++++++++++++++++ Shift, as in relation to how often this level works or not? Thanks, D

sorry, i mean example,,u/j - you say it seems to do things at aussie open, that is well spotted..and the SHIFT i mean is perhaps in 3 months time this happening may shift(move) from aussie open to perhaps and hour later. I hope i explain this well.
It is like how opening range breakout works,,, example,,, market opens goes wild for a time retraces then moves on... but the retrace and move on can be at different time gaps.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,273
  • Apr 10, 2013 11:33am Apr 10, 2013 11:33am
Quoting Seneca pilot
My maximum draw down for the period was 2.38%. You would have to add all the small draws below the start value and below the high water marks to come up with the number that they have. I guess you are right it is a cumulative value. Misleading stat. This gives the impression that I have had draw down equal to half the gains and that is not the case. I have an account on another site that tracks stats and they have it correct. Interesting.
Yes, I agree "Max drawdown" value is more meaningful for account risk management.
I don't know what the cumulative drawdown can be used for.
  • #2,274
  • Apr 10, 2013 11:50am Apr 10, 2013 11:50am
Hi Chris,

could you possibly confirm your SL for the EJ open trade please.

I have a 5 day ADR at 275 so 20% gives 55 so including spread i have a SL of 57...

many thanks

grant
  • #2,275
  • Apr 10, 2013 12:12pm Apr 10, 2013 12:12pm
[quote=billytt;6592335]
Quoting diamonddbw
sorry, i mean example,,u/j - you say it seems to do things at aussie open, that is well spotted..and the SHIFT i mean is perhaps in 3 months time this happening may shift(move) from aussie open to perhaps and hour later. I hope i explain this well. It is like how opening range breakout works,,, example,,, market opens goes wild for a time retraces then moves on... but the retrace and move on can be at different time gaps.
++++++++++++++++++++++++++++++++

Got it, Thanks.

I always have to double think Aussie opens as they have totally different DST and when they do change they got the opposite way from the northern hemisphere, which taxes my poor brain.
  • #2,276
  • Apr 10, 2013 1:40pm Apr 10, 2013 1:40pm
Quoting grant18265
Hi Chris, could you possibly confirm your SL for the EJ open trade please. I have a 5 day ADR at 275 so 20% gives 55 so including spread i have a SL of 57... many thanks grant
This is where your averages come in from the data collection in back testing. Yes ATR is huge right now because there have been some big range days of late. You don't really need more than about 30 to 35 pips though. I would have used 35 last night. The stop that you would need purely off the ATR is a bit too big and not necessary. A bit of discretion using past historical amounts is ok.
  • #2,277
  • Apr 10, 2013 2:59pm Apr 10, 2013 2:59pm
Quoting Seneca pilot
This is where your averages come in from the data collection in back testing. Yes ATR is huge right now because there have been some big range days of late. You don't really need more than about 30 to 35 pips though. I would have used 35 last night. The stop that you would need purely off the ATR is a bit too big and not necessary. A bit of discretion using past historical amounts is ok.
Thanks chris

grant
  • #2,278
  • Apr 10, 2013 3:06pm Apr 10, 2013 3:06pm
[quote=diamonddbw;6592507]
Quoting billytt
++++++++++++++++++++++++++++++++ Got it, Thanks. I always have to double think Aussie opens as they have totally different DST and when they do change they got the opposite way from the northern hemisphere, which taxes my poor brain.
It's funny, if you started a thread on the forum dealing with time zones it would quickly out pace all other threads combined in both views and posts, all filled with people arguing when a given market opens. There would be forex factory riots over the time of the London opening in Latvia and Vanuatu and the thread would quickly outpace the ability of the moderators to put bickering posts into the recycle bin.
  • #2,279
  • Apr 10, 2013 3:46pm Apr 10, 2013 3:46pm
[quote=Seneca pilot;6592875]
Quoting diamonddbw
It's funny, if you started a thread on the forum dealing with time zones it would quickly out pace all other threads combined in both views and posts, all filled with people arguing when a given market opens. There would be forex factory riots over the time of the London opening in Latvia and Vanuatu and the thread would quickly outpace the ability of the moderators to put bickering posts into the recycle bin.
yeah same for h4 threads, 'when does your h4 close' etc etc blah blah... if h4 closes over S/R whatever time it started it's significant, but people don't want to believe it, convinced if they just changed broker to a different timezone they will go from loser to winner.

The time you enter can vary without really affecting your results but you better get the direction right!....

Selling previous days high will work better if yesterday closed down....fact... Two possible exceptions: 1. when daily has hit weekly s/r. 2. when daily isn't trending... Always keep in mind the previous days close, it's your direction for tomorrow!
tradewith60
  • #2,280
  • Apr 10, 2013 6:15pm Apr 10, 2013 6:15pm
[quote=Seneca . I have an account on another site that tracks stats and they have it correct. Interesting.[/QUOTE]

Chris, can you advise, which one ?
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