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Trading Made Simple

  • #29,141
  • Jan 14, 2014 6:16am Jan 14, 2014 6:16am
Hey,

I have been experimenting with an MPTM EA this week to see what it does, how it does it, etc.

I thought I had it figured out and this was just a test to check.

But I have a few questions if anyone can answer it would help greatly!

Is this (the file I attached) set up correctly for a 50 pip JSL?

Is it set to 'start' and jump the SL to BE after a 50 pip positive move?

Is there an initial 'emergency SL' set on the EA? If so, what is it? Or how can I set this?

How does the EA moving SL's appear on my MT4 Account History screen? For example in the trade history window, my SL/TP windows are still zero on a trade I applied the EA on today - I assume they do not change on account of the EA SL being moved?

Do I need to keep the computer on, that the EA is applied to at all times for the EA to work?

I ask this because I got stopped out at 30 pips on a trade today, and I am not sure why or how it happened.


Thanks!

irishtoffy
Attached File(s)
File Type: txt 50 pips.set.txt   5 KB | 389 downloads
  • #29,142
  • Jan 14, 2014 6:22am Jan 14, 2014 6:22am
Quoting Bizzzle
EJ- Close one lot at 80 pips and going to hold the other for 145.70. Best of luck {image}
I have received some PM's asking why I am holding for 145.70 for my second lot...

Hopefully this picture will help its my longer term view of EJ!!

Best of luck
Attached Image (click to enlarge)
Click to Enlarge Name: EJ log term.png Size: 56 KB
Give yourself a chance and trade it like it's layed out...
  • #29,143
  • Jan 14, 2014 6:28am Jan 14, 2014 6:28am
Quoting Bizzzle
{quote} I have received some PM's asking why I am holding for 145.70 for my second lot... Hopefully this picture will help its my longer term view of EJ!! Best of luck {image}
Helpful! Thanks!

Quoting lastingwell
{quote} I know what you mean. I have to see about 50 things going in its favour before I trade it

That's why I focus mainly on EJ and I just wait for something to catch my eye. Recently I started trying to trade tokyo, because I'm feeling a bit more comfortable with the system and all. We'll see how it goes... I've got a small weekly goal, easily achievable with 3-5 trades.
  • #29,144
  • Jan 14, 2014 6:50am Jan 14, 2014 6:50am
Quoting WDays
{quote} Helpful! Thanks!
Your welcome
Give yourself a chance and trade it like it's layed out...
  • #29,145
  • Jan 14, 2014 7:04am Jan 14, 2014 7:04am
Quoting Bizzzle
{quote} I have received some PM's asking why I am holding for 145.70 for my second lot... Hopefully this picture will help its my longer term view of EJ!! Best of luck {image}
Hi,

Yeah I see ur reason for targeting 145, but be aware that if the 140.5 level is tested and breached this time (which I happen to think it may well do)and the 139 support level also, then theres not much support all the way down to 135 or thereabouts and perhaps even further. I may well be wrong though, the next day or two will shed more light I expect, lets see how how it all pans out.
  • #29,146
  • Jan 14, 2014 7:06am Jan 14, 2014 7:06am
Gee, I wonder what's going to happen. A final test of the big ol' confluence area Bizzle pointed out, maybe?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 49 KB
  • #29,147
  • Jan 14, 2014 7:15am Jan 14, 2014 7:15am
Quoting Landline
{quote} Hi, Yeah I see ur reason for targeting 145, but be aware that if the 140.5 level is tested and breached this time (which I happen to think it may well do)and the 139 support level also, then theres not much support all the way down to 135 or thereabouts and perhaps even further. I may well be wrong though, the next day or two will shed more light I expect, lets see how how it all pans out.
How big is your stop loss for the trade yesterday?
  • #29,148
  • Jan 14, 2014 7:26am Jan 14, 2014 7:26am
Quoting lastingwell
{quote} How big is your stop loss for the trade yesterday?
I am applying the basic rules and principles that Eelfranz used and clearly worked in one of his early posts, in as much that breathing space is necessary. My stop hence is 1.5 ADR. If it gets hit, it gets hit, but I'm giving the trade every chance to reach some healthy profit if my assessment is correct.
  • #29,149
  • Jan 14, 2014 7:28am Jan 14, 2014 7:28am
Quoting Landline
{quote} I am applying the basic rules and principles that Eelfranz used and clearly worked in one of his early posts, in as much that breathing space is necessary. My stop hence is 1.5 ADR. If it gets hit, it gets hit, but I'm giving the trade every chance to reach some healthy profit if my assessment is correct.

Ok thanks, I was just curious.
  • #29,150
  • Jan 14, 2014 7:48am Jan 14, 2014 7:48am
Dear user,

I use this system with my live account and is very awesome, right now i just use it with micro account, wich time frame do you like ? What is the best time frame you use to trade ? About me i like the 1h and 4h.
However i want share this video with all traders on this post, because anyone found true the word on this video, don't give up keep study and go head!
Have nice day to all and thank's!

Inserted Video
[Tribute to all traders] I not the owner of this video, i only share it for fun, no commercial purpose !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #29,151
  • Jan 14, 2014 7:48am Jan 14, 2014 7:48am
I haven't been participating in the threads much due to work commitments. However I sincerely appreciate the input all you guys provide here in FF and I always review the posts every night when I return home (Thank you Emmanuel, PHX62, Bizzle, Lastingwell, WDays)

I'm currently looking at EJ I can see a head and shoulders on 4hr. Price currently looks like its retesting the neckline. Does anyone else here agree?
Attached Image
  • #29,152
  • Jan 14, 2014 7:49am Jan 14, 2014 7:49am
This is my EURJPY trade today.Total pip +65.
Thanks emanuel,Lastingwell,ph62,wdays & other friends your help for study this method.

Helanka
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fx-central-clearing.png Size: 43 KB
Helanka
  • #29,153
  • Jan 14, 2014 7:49am Jan 14, 2014 7:49am
Quoting WDays
Gee, I wonder what's going to happen. A final test of the big ol' confluence area Bizzle pointed out, maybe? {image}

Nice one WD
.... laughing all the way to the bank
  • #29,154
  • Jan 14, 2014 8:52am Jan 14, 2014 8:52am
Would one of the experts like to comment on why this trade did not work out - to me it looked like a strong trade. Strong signal candle below the 5 EMA, TDI below the Red & Yellow & Stochs. pointing down.
Opened a Sell trade in Tokyo session with a 50 pip SL, went 18 pips higher to 68 pips above entry.
Cheers Oldie
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 23 KB
  • #29,155
  • Jan 14, 2014 9:08am Jan 14, 2014 9:08am
Quoting Oldie
Would one of the experts like to comment on why this trade did not work out - to me it looked like a strong trade. Strong signal candle below the 5 EMA, TDI below the Red & Yellow & Stochs. pointing down. Opened a Sell trade in Tokyo session with a 50 pip SL, went 18 pips higher to 68 pips above entry. Cheers Oldie {image}
I don't trade UJ but 50 pips is very small sl for the daily chart, and the trade looks to be at least a day late to me even for a bounce trade?
  • #29,156
  • Jan 14, 2014 9:12am Jan 14, 2014 9:12am
Quoting Oldie
Would one of the experts like to comment on why this trade did not work out - to me it looked like a strong trade. Strong signal candle below the 5 EMA, TDI below the Red & Yellow & Stochs. pointing down. Opened a Sell trade in Tokyo session with a 50 pip SL, went 18 pips higher to 68 pips above entry. Cheers Oldie {image}
If you switched to H4, you could see it was under 32 level. It might be better to take profit or not open sell position. And your time frame is day trade, SL may be better to more than 50 pips. It is just my opinion for your reference.

Stone
  • #29,157
  • Jan 14, 2014 9:41am Jan 14, 2014 9:41am
Quoting kingdomk
I haven't been participating in the threads much due to work commitments. However I sincerely appreciate the input all you guys provide here in FF and I always review the posts every night when I return home (Thank you Emmanuel, PHX62, Bizzle, Lastingwell, WDays) I'm currently looking at EJ I can see a head and shoulders on 4hr. Price currently looks like its retesting the neckline. Does anyone else here agree? {image}
It does look like a head and shoulders although the right shoulder doesn't have more volume than the left which is what it should have to be technically correct, but if it does work out I'm going to call him Mister no-neck
  • #29,158
  • Jan 14, 2014 9:41am Jan 14, 2014 9:41am
Quoting itsallover
{quote} Nice one WD
Thanks, more to come hopefully
  • #29,159
  • Jan 14, 2014 10:10am Jan 14, 2014 10:10am
Quoting WDays
{quote} Thanks, more to come hopefully

Indeed.
.... laughing all the way to the bank
  • #29,160
  • Jan 14, 2014 10:29am Jan 14, 2014 10:29am
Now you see what can happen if you're not fast enough on the draw. Missed the tp by 0.9 pips then had to wait another 7 hours for it to reach it Actually the only reason I left it was because I already reached my pip target with the AU trade this morning and this one was safe at +1 so thought I might as well let it go.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymh1.png Size: 25 KB
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