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Simple, Non-subjective, Consistent, Effective

  • #441
  • Mar 7, 2014 4:09am Mar 7, 2014 4:09am
Quoting mor707
Nice one njokie Here's my EURJPY trade. I must really start to do the stacking thing, so far all my trades have been one entry trades. Stacking is suppose to be the real secret of this method, which I am ignoring completely at the moment. I find that it takes some doing to stay in a move and then to add to it, instead of taking the 1st profits you can get and run. {image}
good trade too mor707 nice RR yea the stackig thing is the real deal we need to pull up our socks
thankyou gregwilson
  • #442
  • Edited 5:32am Mar 7, 2014 4:46am | Edited 5:32am
Quoting edge540
{quote} With out a doubt most of the trades posted as of late are hindsight or cherry picked to say the least and what is more none of them are in keeping with the original rules.What does this say about FX trading in general...be careful out there folks,this is a very risky business.
Thank you edge540,

As I am new to this thread I appreciate all the help that I can get. I just now again compared my NZDUSD trade against the original rules and I can't see where I have deviated from the original rules. Obviously, I am missing something that I am not aware of. Would you please help me by indicating which of the original rules were broken.

Also, with English not being my 1st language I fail to understand what you meant by "....most of the trades posted as of late are hindsight "? In post # 420 on 3 March I indicated that I just entered the NZDUSD trade. On 6 March I showed the completed trade. That's the best I can do

You are quite correct and I appreciate it that you bring this important point to our attention again. Fx can be a very risky business. That's one of the main reasons I like Ap3's approach. He advocates the use of SL's as well as a Risk:Reward ratio of minimum 1:2 bit preferably must bigger, all because of the fact that FX trading is mostly a probabilities game and therefore you should make provision for the numerous losses you will incur alongside your winning trades.

Thanks again for sharing your knowledge and experience and I look forward to your insight as to where I have deviated from the original rules.

Regards.

Edited: removed some comments
  • #443
  • Mar 7, 2014 5:25am Mar 7, 2014 5:25am
Quoting mor707
{quote}. Regards.
What a great trade that Usd/Cad short turned out to be. I missed it, but it is my favourite kind of trade, engulfing, off a pullback, strong close below previous s/r. There were no forseeable obstacles before 1.1000 round number. I am very annoyed I did not see it.
Gone to a better place
  • #444
  • Mar 7, 2014 5:33am Mar 7, 2014 5:33am
For those into stacking, here is another opportunity in the making. Break and retest and rejection of 1.1000. Trading into the NFP release in an hour or two is not for the faint hearted, though:

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad140307h4.JPG Size: 108 KB
Gone to a better place
  • #445
  • Mar 7, 2014 6:25am Mar 7, 2014 6:25am
Quoting smikester
For those into stacking, here is another opportunity in the making. Break and retest and rejection of 1.1000. Trading into the NFP release in an hour or two is not for the faint hearted, though: {image}
Hi smikester,

Yeah that original entry was a nice one.

Just one comment on the stacking opportunity: its above the Daily Open, so as I interpret the rules that is not a legit setup, but I am not 100% sure if that rule applies to stacking setups or only for the initial entry?

Also I see that my candles look a bit different to yours (different broker times and feed) so on my charts I don't have a bearish engulfing setup. On yours it looks good. So, I'll stay out of this stacking opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD140207.jpg Size: 137 KB
  • #446
  • Mar 7, 2014 7:36am Mar 7, 2014 7:36am
Quoting mor707
{quote} Hi smikester, Yeah that original entry was a nice one. Just one comment on the stacking opportunity: its above the Daily Open, so as I interpret the rules that is not a legit setup, but I am not 100% sure if that rule applies to stacking setups or only for the initial entry? Also I see that my candles look a bit different to yours (different broker times and feed) so on my charts I don't have a bearish engulfing setup. On yours it looks good. So, I'll stay out of this stacking opportunity. {image}
Well in my book, the daily open is midnight GMT (or BST) and midnight EST. I have a GMT and an EST feed for this reason. Both daily and H4 candles are affected, obviously. I rarely trade against the day's direction. I am not sure how to interpret Ap3's rules - perhaps this could be clarified.

Both my H4 feeds show engulfing. There are various definitions of engulfing. For me, the close must close beyond the extremity of the previous candle. The open, and the other end of the candle are not so important to me as long as either the tail or the body engulfs it.

While writing the NFP figures have been released and show the danger of trading into these major events. I nearly always stay flat as I always seem to lose.
Gone to a better place
  • #447
  • Mar 7, 2014 8:06am Mar 7, 2014 8:06am
Hello All,

I have a comfortable understanding of the original strategy of this thread - except for one thing: can someone please explain in more detail the use of the Daily Weekly and Monthly Hi/Lo levels for determining trade entries?

Thanks,

Bry
  • #448
  • Mar 7, 2014 8:53am Mar 7, 2014 8:53am
Hi..., Trade USD/JPY H 1


Attached Image (click to enlarge)
Click to Enlarge Name: 39 USDJPY H 1.png Size: 11 KB


JVBS
Work very hard until you get there (excuse my english)
  • #449
  • Mar 7, 2014 10:16am Mar 7, 2014 10:16am
jvbs,

How are you using the Daily Weekly and Monthly hi/lo lines on your charts when choosing trades?

Thanks,

Bry
  • #450
  • Mar 7, 2014 7:22pm Mar 7, 2014 7:22pm
Quoting Traderbry
jvbs, How are you using the Daily Weekly and Monthly hi/lo lines on your charts when choosing trades? Thanks, Bry

Hi Trader ... the lines I use the indicator I put in post 61
Here is the link of the post 61 http://www.forexfactory.com/showthread.php?p=7183609 # post7183609
I hope you have clarified your question
greetings,
JVBS
Work very hard until you get there (excuse my english)
  • #451
  • Mar 8, 2014 4:44pm Mar 8, 2014 4:44pm
Quoting jvbs
Hi .., Trade placed yesterday before I go to sleep, gets out alive with TP + 25 Pips {image} Cumprimentos,
JVBS...Thanks for answering my post but I still did not get what is the green moving average line on your chart???Please advise Thank you again....
  • #452
  • Mar 9, 2014 9:07am Mar 9, 2014 9:07am
Quoting jvbs
{quote} Hi Trader ... the lines I use the indicator I put in post 61 Here is the link of the post 61 http://www.forexfactory.com/showthread.php?p=7183609 # post7183609 I hope you have clarified your question greetings, JVBS
Thanks jvbs, but this post shares the indicator - I am asking for a better explanation of how to use the indicator to choose and enter my trades. I notice that your trades are usually from the hourly time frame, what do you look for before entering your trades?

Thanks,
  • #453
  • Mar 9, 2014 9:33am Mar 9, 2014 9:33am
The goal is to stack H1 and H4 positions in the direction of the daily and weekly trend. How is this accomplished? 1. Buy only if price is up on the day 2. Sell only if price is down on the day 3. All H4 engulfing bars may be taken 4. H1 engulfing bars are ideal after a pullback, but not required 5. Trigger is a spread +1 break of the engulfing bar 6. Stop is 10 pips below previous swing low or engulfing bar 7. Move stop to break-even at 1:1RR, and hold for minimum 2:1RR. Once a comfortable 2:1 has been achieved, meaning 3:1 or 4:1, move stop to 2:1. Then either hold on for the ride or trail behind previous closed daily or H4 candle. 8. Previous monthly, weekly, and daily high/lows will be the only lines used for support/resistance. These lines can also be used for profit targets and directional bias. For example, it would be prudent not to sell into a market that has just broken its previous weekly or monthly high. 9. Each trade in a stack is treated as a separate position unto itself

1. Buy only if price is up on the day 2. Sell only if price is down on the day
Hi guys, how do you understand those two sentences?
if the price is up on the day, BUY only, which day? today? If it is today, we don't know it is going up or down.
Or we compare today's open with previous day's close to define it is up or down, and then buy or sell.
Same doubt about the second point.
  • #454
  • Mar 9, 2014 10:30am Mar 9, 2014 10:30am
Hi Shepherdl, the buy order and the sell order, if I understand well is always in fuction with the day open : market above is a buy market Under is a sell but you have to have to look for the week direction or higher time frame ...it is an help to show the direction of the market and if the market make a rallye or a pullback.

If anyone is not agrre with me a or if I don't realy understand ...corect me.

have a nice day
  • #455
  • Mar 9, 2014 12:52pm Mar 9, 2014 12:52pm
Hi JVBS, just 2 questions: what is the green line ontour chart ( is it a MA if yes can you give the number af period)

I saw you took 3 trades, can you explain why or the strategy for?

thank you
  • #456
  • Mar 9, 2014 6:49pm Mar 9, 2014 6:49pm
Quoting chienung
{quote} JVBS...Thanks for answering my post but I still did not get what is the green moving average line on your chart???Please advise Thank you again....
Hi chienung..., EMA 20/Close
Work very hard until you get there (excuse my english)
  • #457
  • Edited 7:29pm Mar 9, 2014 7:12pm | Edited 7:29pm
Quoting Traderbry
{quote} Thanks jvbs, but this post shares the indicator - I am asking for a better explanation of how to use the indicator to choose and enter my trades. I notice that your trades are usually from the hourly time frame, what do you look for before entering your trades? Thanks,

Hi Traderbry, ShepherdL already gave the answer, what I seek is + - this, now you should understand how each has an interpretation a bit different from the price action, and this can not explain how I do on every trade, because in each trade can be done a thousand way to interpret the market at the moment, (price action).
I try to follow the rules of the first page, they are the ones that are valid for this system.I do my entries in H 1, but before I try to see the trend in longer periods, H4, D1, W1
But you should understand how we are all trying our best anyway way to make trades, I'm still on that pitch.
And it's hard for me to explain my way of negotiating, for lack of time and because my language is not English, then your translation or reading can not come out as I wanted.
I hope you'll understand
greetings,
JVBS
Work very hard until you get there (excuse my english)
  • #458
  • Mar 9, 2014 7:23pm Mar 9, 2014 7:23pm
Quoting liberty55
Hi JVBS, just 2 questions: what is the green line ontour chart ( is it a MA if yes can you give the number af period) I saw you took 3 trades, can you explain why or the strategy for? thank you
Hi ... liberty55, Ema 20/Close.
I enter with 3 positions with an EA, which he does after I go out my positions by managing, EA pulling out part of the profits, whether in for profit I do not to have to return the Pips back to the market.
I hope I answered your question.
Greetings,
JVBS
Work very hard until you get there (excuse my english)
  • #459
  • Mar 10, 2014 5:09pm Mar 10, 2014 5:09pm
Hi...,

Trade GBP/USD H1

Attached Image (click to enlarge)
Click to Enlarge Name: 040 GBPUSD H 1.png Size: 13 KB


JVBS
Work very hard until you get there (excuse my english)
  • #460
  • Mar 11, 2014 5:13pm Mar 11, 2014 5:13pm
Does anyone know of an engulfing candle Alert for mt4? Just wondering...
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