Thanks for sharing your experiment. Quick question - does the daily bar have close above the EMAs?
- #26
- May 5, 2013 7:21pm May 5, 2013 7:21pm
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
{quote} I am still very much interested in this strategy. I want to get your position on taking a trade that qualifies as per the rule if the Daily TF shows overbought/oversold with wpr indicator. Would you advise taking such trades or should we skip the trades if daily shows wpr OB/OS? Thank you.
1) Price needs to be above / below BOTH the 20 EMA and 50 EMA on the Daily chart. Above = BUY Below = SELL
2) New positions are opened up using H1 Williams % Indicator when price is Over Bought / Over Sold. We do not need to wait for H1 to close in OB or OS area. Once price moves into OB / OS area then 1 position opens up.
However, I believe the confusion you feel is because 100pips has both the 20 EMA / 50 EMA and the Williams % Range on BOTH the Daily and H1 charts that he use for example.
I suggest that you set up your charts as per what he says not what he shows (I know this from other threads and comments made
)Let's look at his example EUR-AUD in detail, but remove the W%R from the Daily, mark (X) the day that price moved above both 20 EMA / 50 EMA, and following days with green box
Notice that he says price above both 20 EMA & 50 EMA - NOT that they have to be crossed
It takes a lot for me to IGNORE you, but you can try.
- #27
- May 5, 2013 7:24pm May 5, 2013 7:24pm
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
@ Okoli,
Now let us zoom into the previously green, marked area, on the 1 hour chart
We can find the 8 entries easily as per Williams % Range oversold
Let's assume entries are approximately at 1.26500
Now let us zoom into the previously green, marked area, on the 1 hour chart
We can find the 8 entries easily as per Williams % Range oversold
Let's assume entries are approximately at 1.26500
It takes a lot for me to IGNORE you, but you can try.
- #28
- May 5, 2013 7:28pm May 5, 2013 7:28pm
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
@ Okoli,
Finally, let us check the 4 Hour chart to see where price is
It has not yet reached the 350 pip target of 1.30000, but all are in profit
You need to do this similar research on charts to learn the method yourself
Sincerely, I hope this has been of help to you and meets with 100pips approval
Finally, let us check the 4 Hour chart to see where price is
It has not yet reached the 350 pip target of 1.30000, but all are in profit
You need to do this similar research on charts to learn the method yourself
Sincerely, I hope this has been of help to you and meets with 100pips approval
It takes a lot for me to IGNORE you, but you can try.
- #29
- May 5, 2013 7:49pm May 5, 2013 7:49pm
- | Commercial User | Joined May 2012 | 3,285 Posts
@ Okoli, Finally, let us check the 4 Hour chart to see where price is It has not yet reached the 350 pip target of 1.30000, but all are in profit You need to do this similar research on charts to learn the method yourself Sincerely, I hope this has been of help to you and meets with 100pips approval
Thank you very much for clarifying these simple rules explained on the first post!
So far I am more than happy with the results I am experiencing with this system. Obviously the demo accounts are new but so far so good.
- #32
- May 5, 2013 8:41pm May 5, 2013 8:41pm
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
Do you use support and resistance while trading this system? I hope it has great results while you test it
but no reason why YOU can't look at it, if that is what you are used to doing and it works for you
personally,
I think he jumped the gun on the AUD-USD buy, especially now bad news is outat least only 1 small position he has, just cut it
It takes a lot for me to IGNORE you, but you can try.
Hi 100pips,
On your account summary, your loses have been minimal and most are less than 250 pips. When do you decide to get out of the trade?
Same with TP, when do you decide to cut the trade short as the momentum is running out of steam?
(Btw, this is my first post after having been a long-time lurker)
On your account summary, your loses have been minimal and most are less than 250 pips. When do you decide to get out of the trade?
Same with TP, when do you decide to cut the trade short as the momentum is running out of steam?
(Btw, this is my first post after having been a long-time lurker
){quote} I have a hard SL and TP for each position. I will not move SL or TP targets EVER.
- #35
- May 5, 2013 10:22pm May 5, 2013 10:22pm
- | Commercial User | Joined May 2012 | 3,285 Posts
Hi 100pips, On your account summary, your loses have been minimal and most are less than 250 pips. When do you decide to get out of the trade? Same with TP, when do you decide to cut the trade short as the momentum is running out of steam? (Btw, this is my first post after having been a long-time lurker
Everything should be in place now though and I will not be touching trades at all no matter what.
- #40
- May 6, 2013 7:18am May 6, 2013 7:18am
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
There is green light on GBP-USD but wait for good price and time before buying
good night all, best of trades to you
good night all, best of trades to you
It takes a lot for me to IGNORE you, but you can try.