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TDI and Stochastic strategy

  • #241
  • Aug 9, 2013 9:26am Aug 9, 2013 9:26am
Quoting The Wizard
{quote} I have a strict money mangement tool that I developed over the years based on Elliot wave price action it is a bit complicated to expalin in a thread but let's say that in this particular trade it is around 350 pips which is already factored in once I take the first trade. Not all of my trades have the same number of pips as SL nor numbers of lots per trade.

Thanks for the explanation. I was just curious, as price is at 0.9195 at the moment, and if you got in 7 positions yesterday around 2:30pm EST, that's roughly a 560 pip drawdown currently. Just wanted to make sure that you had your MM in place..thanks again
  • #242
  • Aug 9, 2013 10:01am Aug 9, 2013 10:01am
Quoting MaxVFX
{quote} Thanks for the explanation. I was just curious, as price is at 0.9195 at the moment, and if you got in 7 positions yesterday around 2:30pm EST, that's roughly a 560 pip drawdown currently. Just wanted to make sure that you had your MM in place..thanks again
I got in at .8982 and we are in wave 3 the strongest in the 5 waves I am currently 220 pips drawdown counting from the intial trade i will be looking to exit once the market retraces into wave 4.
  • #243
  • Aug 9, 2013 10:08am Aug 9, 2013 10:08am
Quoting The Wizard
{quote} I got in at .8982 and we are in wave 3 the strongest in the 5 waves I am currently 220 pips drawdown counting from the intial trade i will be looking to exit once the market retraces into wave 4.

As a fairly new trader, I appreciate your information. I assume that you have closed some of the trades from yesterday afternoon if your DD is only 220 pips?
  • #244
  • Aug 9, 2013 11:47am Aug 9, 2013 11:47am
Quoting The Wizard
Hello Helee I am attaching 2 screen shots of the AUD/USD long trades for better understanding (ignore the eur/jpy found in one of the shots). I hope this will help. Regards {image} {image}
Hi The Wizard,

Thx a lot for your collaboration, is this only shorts?
.. but this does not seem to be the aandaleb strategy..?? inst these supposed to run over 100pips a trade??

or are you using some other strategy?

Sorry for this confusion.

Thx
Helee
  • #245
  • Edited 7:11pm Aug 9, 2013 12:18pm | Edited 7:11pm
Add a 50 EMA will clear things up a little bit?
Never say no to PIPS
  • #246
  • Aug 10, 2013 1:28pm Aug 10, 2013 1:28pm
Quoting Helee
{quote} Hi The Wizard, Thx a lot for your collaboration, is this only shorts? .. but this does not seem to be the aandaleb strategy..?? inst these supposed to run over 100pips a trade?? or are you using some other strategy? Sorry for this confusion. Thx Helee
Hi The Wizard,

If i understood correctly this should be the way it was supposed to trade, the problem is that the strategy went to far down against, it went 8 positions down. which is quite some investment... especially for a newbie

The horizontal lines are the 8x25 pip entries that the trade keep going against.

Is this correct?
Thx for the support

Helee
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H1.jpg Size: 461 KB
  • #247
  • Aug 11, 2013 6:22am Aug 11, 2013 6:22am
Quoting Helee
{quote} Hi The Wizard, If i understood correctly this should be the way it was supposed to trade, the problem is that the strategy went to far down against, it went 8 positions down. which is quite some investment... especially for a newbie The horizontal lines are the 8x25 pip entries that the trade keep going against. Is this correct? Thx for the support Helee {image}

Helee,

stick to the way eelfranz' method in using the TDI PL green and TSL red lines. You will find good trades in many currency pairs and a lot simpler and easy to trade with proper money management. The Stoch 8,3,3 is good for confirmation of the conventional TDI + APB entry.

Here, theOP aandaleb only trade AUDUSD using this method as mentioned in post#1.
I looked at history charts and I see many trade failures using this TDI TSL and the fast Stoch 8 period. It is like trying to catch an entry in a retracement and waiting for market to resume the trend to take profit or doing the opposite trying to catch the end of a trend then taking profit in a retracement. The issue here is how we read the levels 68 and 32 of the TDI and the 70 and 30 levels the Stoch. Techncially, combining both into one signal don't make any sense. There need to have another filter.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #248
  • Aug 11, 2013 6:45am Aug 11, 2013 6:45am
Quoting emmanuel7788
{quote} Helee, stick to the way eelfranz' method in using the TDI PL green and TSL red lines. You will find good trades in many currency pairs and a lot simpler and easy to trade with proper money management. The Stoch 8,3,3 is good for confirmation of the conventional TDI + APB entry. Here, theOP aandaleb only trade AUDUSD using this method as mentioned in post#1. I looked at history charts and I see many trade failures using this TDI TSL and the fast Stoch 8 period. It is like trying to catch an entry in a retracement and waiting for market to...
Hi EMMANUEL,

Thx a lot for you caring and concern, I do see you a helping person who cares for giving good advise.

Thanks a lot.

Helee
  • #249
  • Aug 12, 2013 3:25am Aug 12, 2013 3:25am
Quoting emmanuel7788
{quote} Helee, stick to the way eelfranz' method in using the TDI PL green and TSL red lines. You will find good trades in many currency pairs and a lot simpler and easy to trade with proper money management. The Stoch 8,3,3 is good for confirmation of the conventional TDI + APB entry. Here, theOP aandaleb only trade AUDUSD using this method as mentioned in post#1. I looked at history charts and I see many trade failures using this TDI TSL and the fast Stoch 8 period. It is like trying to catch an entry in a retracement and waiting for market to...

Hello Emmanuel7788, What is APB entry? can you share? thankx
Never say no to PIPS
  • #250
  • Aug 12, 2013 3:38am Aug 12, 2013 3:38am
Quoting lazyegg
{quote} Hello Emmanuel7788, What is APB entry? can you share? thankx

Average Price Bars
Take care
Helee
Attached File(s)
File Type: pdf TDI_1.pdf   254 KB | 1,595 downloads
  • #251
  • Aug 12, 2013 4:00am Aug 12, 2013 4:00am
Quoting Helee
{quote} Hi The Wizard, Thx a lot for your collaboration, is this only shorts? .. but this does not seem to be the aandaleb strategy..?? inst these supposed to run over 100pips a trade?? or are you using some other strategy? Sorry for this confusion. Thx Helee
The screen shots I posted are all LONG audusd from the first trade I took. In all of the trades and all of the entries I used Aandalep strategy as for exiting the trades I modified it a bit since we were Long and the market was trending downwards. Even if I have not modified the exits all of the positions would have gained money. The Most imoprtant factor in this strategy is MONEY MANAGEMENT.
  • #252
  • Aug 12, 2013 4:19am Aug 12, 2013 4:19am
Quoting The Wizard
{quote} The screen shots I posted are all LONG audusd from the first trade I took. In all of the trades and all of the entries I used Aandalep strategy as for exiting the trades I modified it a bit since we were Long and the market was trending downwards. Even if I have not modified the exits all of the positions would have gained money. The Most imoprtant factor in this strategy is MONEY MANAGEMENT.
Thank you,

May i ask what MM do you follow? can you give some examples, please?

Thx
  • #253
  • Aug 12, 2013 4:59am Aug 12, 2013 4:59am
Quoting Helee
{quote} Hi The Wizard, If i understood correctly this should be the way it was supposed to trade, the problem is that the strategy went to far down against, it went 8 positions down. which is quite some investment... especially for a newbie The horizontal lines are the 8x25 pip entries that the trade keep going against. Is this correct? Thx for the support Helee {image}
Yes Helee Indeed it went 8X25 but it reversed and ended up in Profit more than 100 pips counting from the initial trade. That is why it is very important not to oversize your position on the initial trade so you can keep up adding if the market goes against you.
  • #254
  • Aug 12, 2013 5:04am Aug 12, 2013 5:04am
Quoting Helee
{quote} Thank you, May i ask what MM do you follow? can you give some examples, please? Thx
I am using my own MM strategy that is based on Elliot Wave price action. depending on which wave I am in once I enter the market. Most of the time I enter with a small lot size this way I can add up as mush as I want to my trade .
  • #255
  • Aug 12, 2013 5:38am Aug 12, 2013 5:38am
Helee

I have learned over the years that there is no such thing as the holly grail that every forex trader is looking (wishing for). If forex trading was a sure thing all of us would be millionaires sorry there is no such thing. That is why everytime I place a trade I expect the worse senario and size my lot size accordingly. if the entry was right I still make money ( not a lot) but I am not greedy. if my entry was wrong then I start managing my bad trade to turn ito into a breakeven or a positive one using Elliot wave principle.
  • #256
  • Aug 13, 2013 1:40pm Aug 13, 2013 1:40pm
This is a very good strategy to learn however I wouldn't recommend taking every buy/sell trigger. I'm only taking trades that align with the 4 Hr and look for obvoius support/ resistance areas to enter.

If you backtest you'll find the price hardly moves against you (ie. drawdown) and when it goes with the trend you can be in the money pretty fast.

Just my 2 cents.

Don
Enter Signature
  • #257
  • Aug 21, 2013 7:38am Aug 21, 2013 7:38am
Quoting The Wizard
{quote} I got in at .8982 and we are in wave 3 the strongest in the 5 waves I am currently 220 pips drawdown counting from the intial trade i will be looking to exit once the market retraces into wave 4.
I Have closed 9 positions short audusd at a profit of 897 pips still have 3 positions open.

I have also 6 open positions LONG.
  • #258
  • Aug 21, 2013 1:11pm Aug 21, 2013 1:11pm
Quoting The Wizard
{quote} I Have closed 9 positions short audusd at a profit of 897 pips still have 3 positions open. I have also 6 open positions LONG.
Closed the remaining 3 short position at break even and now I am 7 position Long audusd will have to wait and see how the market will react to FOMC
  • #259
  • Aug 23, 2013 8:29am Aug 23, 2013 8:29am
Quoting The Wizard
{quote} Closed the remaining 3 short position at break even and now I am 7 position Long audusd will have to wait and see how the market will react to FOMC
Still Long audusd with 8 positions .....
  • #260
  • Aug 23, 2013 10:11am Aug 23, 2013 10:11am
Quoting RoyPK
Hi Members, I attach below two demo 1hr charts of FxGlory and FxPro. Note the difference in prices and indicators! This is before this week's opening. Roy {image} {image}
RoyPK, Please let me know the attachments that you used. (For indicators and templates). I am very new to this blog and looks very interesting and educational. Thank you.
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