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My Market Order System

  • #41
  • Jan 14, 2014 7:34am Jan 14, 2014 7:34am
Hi PrinceWahaj,
Im fairly new here so bear with me when I ask how you get such large minuses on hitting SL in your findings.
when rules set by Bob say sl under dot which i think 50 - 60 pips then enter trade 10 pips other side of dot so stop loss shouldnt be more than 60 - 70 pips
Please correct me if im wrong , heh i usually am . just trying to understand your backtests
  • #42
  • Jan 14, 2014 8:21am Jan 14, 2014 8:21am
Quoting orid
Hi PrinceWahaj, Im fairly new here so bear with me when I ask how you get such large minuses on hitting SL in your findings. when rules set by Bob say sl under dot which i think 50 - 60 pips then enter trade 10 pips other side of dot so stop loss shouldnt be more than 60 - 70 pips Please correct me if im wrong , heh i usually am . just trying to understand your backtests
Hello orid and bob,

Correct me if i understood the rules wrongly.

Entry and Exit rules:

SELL: When the number 3 dot appears, if the dot was on the TOP, so we will take this candle's low + 10 pips more below for Sell Stop Order, and the SL would be above the DOT, and Closing of the trade will be on the first dot with closed candle of 2nd or 3rd number DOT depend on which one appears first.

BUY: When the number 3 dot appears, if the dot was on the BOTTOM, so we will take this candle's high + 10 pips more above for Buy Stop Order and the SL would be below the DOT and Closing of the trade will be on the first dot with closed candle of 2nd or 3rd number DOT depend on which one appears first.

@Orid that's why we have too much minuses, the dots repaints badly and that is the cause.

Best Regards,
PrinceWahaj
  • #43
  • Jan 14, 2014 9:56am Jan 14, 2014 9:56am
Quoting wahaj
{quote} Hello orid and bob, Correct me if i understood the rules wrongly. Entry and Exit rules: SELL: When the number 3 dot appears, if the dot was on the TOP, so we will take this candle's low + 10 pips more below for Sell Stop Order, and the SL would be above the DOT, and Closing of the trade will be on the first dot with closed candle of 2nd or 3rd number DOT depend on which one appears first. BUY: When the number 3 dot appears, if the dot was on the BOTTOM, so we will take this candle's high + 10 pips more above for Buy Stop Order and the SL...

I see what you mean PrinceWahaj.
I think Bob needs to come in here and explain ,
I may be wrong, but I thought we were to place order 10 pips below disc for sell with sl just above disc ,
then if disc repaints higher order is not hit and you then move sell order up this way you keep stop loss to minimum usually around 40 pips.
Makes good sense to me ,But I may be wrong.
hopefully bob will set us straight.
thanks for working on this Princewahaj all helps (280 pips today so far on this )
Regards Peter
  • #44
  • Jan 14, 2014 10:08am Jan 14, 2014 10:08am
I would like to have Bobhowson here and explain about entry rules again, because all in all, the picture shows my info correct. I may be wrong also as a human.

Best Regards,
PrinceWahaj
  • #45
  • Jan 14, 2014 10:08am Jan 14, 2014 10:08am
here ya go notice stop loss is 43 pips or so, although i think i should have waited for close
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  • #46
  • Jan 14, 2014 10:24am Jan 14, 2014 10:24am
Hello guy's

Anyone got problem with repainting ?
I mean indicator move with price, is hard to find and open position or i have only to wait and spend some time?
What about using it with lower time frame? (4h and 1h)?

Thank's and take care, Bob's thank's for sharing it !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #47
  • Jan 14, 2014 10:37am Jan 14, 2014 10:37am
350 pips today and still going ,(on demo)beginners luck ??
Hi hyperfire well it doesnt repaint after close of candle me thinks so as long as you keep order below disc for sell , im doing ok on 4 hr too.
wish bob would chime in im not good at explaining
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  • #48
  • Jan 14, 2014 10:46am Jan 14, 2014 10:46am
Hello,

I see, thank's Orid. I've check on 4H right now i try to open some position on 1H i'm near a 3 sell stop, let's see what happend.
Anyone already use it on live account ?
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #49
  • Jan 14, 2014 10:49am Jan 14, 2014 10:49am
Hi Orid
I think you've had beginners luck, the ZZ can repaint at any time, so it is pretty risky entering where you have done, but you're only on a demo so doesn't really matter.

I think Bob means to enter 10 pips above/below the candle where the yellow dot is.

Martin
  • #50
  • Jan 14, 2014 10:53am Jan 14, 2014 10:53am
Hello again,

Ukmartin, i agreed with you. Only way to use this indicator is with buy/sell stop position.
Right now i just use it on live micro account, let's see what happend.
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #51
  • Jan 14, 2014 10:54am Jan 14, 2014 10:54am
Im off to bed should close trades if live but demo and no new discs yet so locked in 200 pips leave and see
unbelievably im up 50 pips on h4 also , exiting system. cheers Bob
nighty all ,
Peter
  • #52
  • Jan 14, 2014 10:56am Jan 14, 2014 10:56am
Good night Orid !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #53
  • Jan 14, 2014 11:03am Jan 14, 2014 11:03am
Quoting ukmartin
Hi Orid I think you've had beginners luck, the ZZ can repaint at any time, so it is pretty risky entering where you have done, but you're only on a demo so doesn't really matter. I think Bob means to enter 10 pips above/below the candle where the yellow dot is. Martin

agreed Martin but i mainly did that one to show where i put order and sl , which im not sure is correct
all my other trades that are doing well ,were done earlier today after yesterday candle close. also entered late because my bedtime.he he
good night all
Regards Peter
  • #54
  • Jan 14, 2014 11:19am Jan 14, 2014 11:19am
Hello,

About the test, i've suspend it due to problem with my internet connection, let's see tomorrow what that can do for my this strategies.

Take care, and read you soon guy's !!
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #55
  • Jan 14, 2014 6:19pm Jan 14, 2014 6:19pm
Morning evening all
Well beginners luck still good over 450 pips and counting , just close au /usd on new pink disc and placed buy order.
Regards Orid
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  • #56
  • Jan 14, 2014 7:35pm Jan 14, 2014 7:35pm
Quoting orid
Morning evening all Well beginners luck still good over 450 pips and counting , just close au /usd on new pink disc and placed buy order. Regards Orid{image}

whoops that was mistake on au us twas on 4 hr shouldnt have closed
  • #57
  • Jan 15, 2014 5:16am Jan 15, 2014 5:16am
Thanks for the info
  • #58
  • Jan 15, 2014 5:24am Jan 15, 2014 5:24am
Quoting bobhowson
Thanks for the info
Hey bob,

Please read the previous posts and let us know the exact rules, we all are confused.

Should we take the low of candle for sell trade or should we take the close of candle for sell? or Orid is correct in the rules?

Best Regards,
PrinceWahaj
  • #59
  • Jan 15, 2014 5:43am Jan 15, 2014 5:43am
Hi Guys !
Sorry if I have confused everyone, I have a habit of doing that sometimes.
This is what I do with this trading system......
But remember I'm only a newbie too and not an expert, so maybe between us all we can improve on this Semafor System.

SELL TRADE: this would be the end of an RISING TREND
Eg: Candle with RED DOT ( Or Yellow If You Wish )

1) Place your SELL STOP ORDER at the BOTTOM of the CLOSED CANDLE 10 Pips Below If You Wish.
2) Place your SL ABOVE the RED DOT

So in other words the RED DOT is indicating us to SELL !
The RED DOT will not move once this candle is closed UNLESS the next candle decides to go further UP.
If it does move your SL ABOVE once again and move the SELL STOP ORDER Up also.

The image in this post is a current trade I'm in with the NZDUSD
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  • #60
  • Jan 15, 2014 5:46am Jan 15, 2014 5:46am
I think the idea of placing your SELL STOP ORDER under the dot may be a better idea.
I will try this on the next up and coming trades...
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