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  • #2,221
  • May 15, 2014 2:31am May 15, 2014 2:31am
Quoting strada
{quote} Yes Rooi, if London had gone long the signal would probably have been clear from the DP and there may have been a good exit plan as long as the signal bar wasn't too long (ie causing a sizeable SL). The only thing I may have had difficulty with would have been the distance between the pre LO signal and the post LO signal. strada.
I see as that would be seen as more of a continuation trade more than a "new" or "fresh" reversal signal and might not be as high a probability as we want from the original turn area?

Or why do you say that?
We miss 100% of the shots we don't take
  • #2,222
  • May 15, 2014 2:44am May 15, 2014 2:44am
Quoting Rooi
{quote} I see as that would be seen as more of a continuation trade more than an "new" or "fresh" reversal signal and might not be as high a probability as we want from the original turn area? Or why do you say that?
Well now you're asking! we normally say it's easy to analyse charts in hindsight but looking at the EJ chart around LO I'm not sure what I would have done there in reality.
I'm not sure if I would have seen it as continuation as the trade wouldn't have developed to that level. Because I prefer to be in a trade during the opens and always wary of entering on or immediately after the opens I may have entered a reduced stake. The one thing I would have been watching apart from the DP area would have been the previous high, any failure or weakness around that area and I would have been looking to reduce exposure or a cheap exit as that would suggest the previous hour's congestion may have been continuing.
All in hindsight so may be a load of rubbish of course!!
strada.
  • #2,223
  • May 15, 2014 2:45am May 15, 2014 2:45am
Quoting jonnypants
@rooi, nice work there Do you often look to trade away from Pivots and SR as well?
Yes.

S/R , Pivots , Big Round Numbers

But they break just as often as the can reverse PA so Im just aware of them
We miss 100% of the shots we don't take
  • #2,224
  • May 15, 2014 2:54am May 15, 2014 2:54am
Quoting strada
{quote} Well now you're asking! we normally say it's easy to analyse charts in hindsight but looking at the EJ chart around LO I'm not sure what I would have done there in reality. I'm not sure if I would have seen it as continuation as the trade wouldn't have developed to that level. Because I prefer to be in a trade during the opens and always wary of entering on or immediately after the opens I may have entered a reduced stake. The one thing I would have been watching apart from the DP area would have been the previous high, any failure or weakness...

I agree its easy when looking back but the signals are important and how we choose to use them.

I have been analyzing it in the following way.

How many signals were presented in the 2-3 hours I allow myself to trade - Today it was 4
How many did I trade - I traded 3
How many would have been BE or better. - 3

Gives one a realistic idea of what could or should have been. I have so much to catch up on all the data you have collected over the years.Have you ever done stats like that or what was the statistics that help you the most?

If I did long into the high then I would have flipped my position short after the open and made back the small loss of the long - Does not always work but we dont have too much of a choice really.

Im still working on increasing my confidence to enter the signal before opens still a bit painful at the moment.Just have to change the think processes
We miss 100% of the shots we don't take
  • #2,225
  • May 15, 2014 3:02am May 15, 2014 3:02am
@rooi and strada, would you have taken this short entry on purple line?
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  • #2,226
  • May 15, 2014 3:13am May 15, 2014 3:13am
Quoting jonnypants
@rooi and strada, would you have taken this short entry on purple line? {image}
Would be a nice trade but I dont trade EA. I follow Strada's approach about trading either EJ or GU on the FO and LO but if you have the disciple and concentration then you can trade it much longer during the day
We miss 100% of the shots we don't take
  • #2,227
  • May 15, 2014 3:15am May 15, 2014 3:15am
Quoting strada
{quote} Well now you're asking! we normally say it's easy to analyse charts in hindsight but looking at the EJ chart around LO I'm not sure what I would have done there in reality. I'm not sure if I would have seen it as continuation as the trade wouldn't have developed to that level. Because I prefer to be in a trade during the opens and always wary of entering on or immediately after the opens I may have entered a reduced stake. The one thing I would have been watching apart from the DP area would have been the previous high, any failure or weakness...
German GDP was being released right at FO, hence the increase in volatility. Personally I waited for the market to calm down, then took the clear EJ short at 10:36. I like to have trades into session opens as well, except when the open coincides with an Eco release.
  • #2,228
  • May 15, 2014 3:15am May 15, 2014 3:15am
Quoting Rooi
{quote}Have you ever done stats like that or what was the statistics that help you the most?
Hi Rooi, firstly, taking 3 out of 4 possible trades and no losses, that's brilliant. As a matter of interest which one didn't you take?
Re stats, I did most of my data collating some time back when I was on 5mins and spent hours every day for months collecting material on every signal on 1min charts, I was sure there was something there but had to prove it's consistency etc. data included time, duration, price entry, biggest drawdown, maximum pip gain etc. From that I proved the reliability using some strategies and abject failure using others. Although I'm now using 2 TP's like you (previously used 3) my trading strategy and rules that I established way back then still apply today.
It was from all that data that the TP levels and SL levels were calculated. More of a business approach to the strategy rather than a simple R:R. Anyway it's still working, that's the main thing.
strada.

@Panamamike, that's exactly what I should have done too, you read it right, I didn't read it at all.
  • #2,229
  • May 15, 2014 3:22am May 15, 2014 3:22am
I book 17,9 pips after LO

nice trading all I must stop because have no eelctric and run near out of the UPS power

cheers
  • #2,230
  • May 15, 2014 3:23am May 15, 2014 3:23am
Quoting strada
{quote} Hi Rooi, firstly, taking 3 out of 4 possible trades and no losses, that's brilliant. As a matter of interest which one didn't you take? Re stats, I did most of my data collating some time back when I was on 5mins and spent hours every day for months collecting material on every signal on 1min charts, I was sure there was something there but had to prove it's consistency etc. data included time, duration, price entry, biggest drawdown, maximum pip gain etc. From that I proved the reliability using some strategies and abject failure using...
What's your daily/weekly targets?
thanks
@panamamike, fancy posting a chart and inviting us all to Panama?
  • #2,231
  • May 15, 2014 3:25am May 15, 2014 3:25am
Quoting punisher
I book 17,9 pips after LO nice trading all I must stop because have no eelctric and run near out of the UPS power cheers
dude good trading but you need to get on the bike quickly!!! (to generate more power!)
  • #2,232
  • May 15, 2014 3:38am May 15, 2014 3:38am
Quoting strada
{quote} Hi Rooi, firstly, taking 3 out of 4 possible trades and no losses, that's brilliant. As a matter of interest which one didn't you take? Re stats, I did most of my data collating some time back when I was on 5mins and spent hours every day for months collecting material on every signal on 1min charts, I was sure there was something there but had to prove it's consistency etc. data included time, duration, price entry, biggest drawdown, maximum pip gain etc. From that I proved the reliability using some strategies and abject failure...
I didnt take trade 3 for many reasons but I could have taken it and the changed and filliped the position around on the next signal short

Those 4 trades are all I need for my trading for now and working on the extending my trading time maybe.

The system works well as long as there is movement but after the opens it can quite down a bit so Im trying to just get those 2-3 hours.

Your system and calculations are spot on and will forever be unless there is a real big change in the market but I doubt that will ever happen.The only time that the system wont work is if price becomes range bound in a less than 12 pip range.Anything more than 12 pips will get you to TP1 easily.

My last problem is I need to accept the BE trades better because it allows the market to run better rather than always cutting the position early.All in time.Just need to prove it to my mind over time I suppose.I just need to collect the data like you did as it gives you unshakable confidence
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We miss 100% of the shots we don't take
  • #2,233
  • May 15, 2014 3:43am May 15, 2014 3:43am
Quoting punisher
I book 17,9 pips after LO nice trading all I must stop because have no eelctric and run near out of the UPS power cheers

Nice trading punisher

Enjoy your day and see you tomorrow morning
We miss 100% of the shots we don't take
  • #2,234
  • May 15, 2014 4:03am May 15, 2014 4:03am
For being aware of the news I use this indicator

You set it up on a chart and it warns you of any news however many minutes before the news you decide
Attached Image (click to enlarge)
Click to Enlarge Name: 15 05 2014 T6.png Size: 116 KB
Attached File(s)
File Type: ex4 SonicR FFCal Panel (White).ex4   21 KB | 270 downloads
File Type: mq4 SonicR FFCal Panel (White).mq4   52 KB | 265 downloads
We miss 100% of the shots we don't take
  • #2,235
  • May 15, 2014 4:06am May 15, 2014 4:06am
Quoting Rooi
For being aware of the news I use this indicator You set it up on a chart and it warns you of any news however many minutes before the news you decide {image} {file} {file}
That's a good indi for me cause often i have problems due to news i forgot.
My name is Martin... Martin Gale
  • #2,236
  • May 15, 2014 4:14am May 15, 2014 4:14am
Why do i always have that alert :
Attached Image
My name is Martin... Martin Gale
  • #2,237
  • May 15, 2014 4:22am May 15, 2014 4:22am
Finally i used that one if some is interested for build 600+
Attached File(s)
File Type: mq4 Sonic_5 FFCal Panel (Black).mq4   53 KB | 335 downloads
My name is Martin... Martin Gale
  • #2,238
  • May 15, 2014 4:24am May 15, 2014 4:24am
Quoting condor666
Why do i always have that alert : {image}

I dont know the indy that well.

Google the error or the go to the indicators creator in MQL editor.(if you don know how to do it just google it)

I know there are many versions of the indy available

Sorry I cant be of more hesitance
We miss 100% of the shots we don't take
  • #2,239
  • May 15, 2014 4:26am May 15, 2014 4:26am
Quoting Rooi
{quote} I dont know the indy that well. Google the error or the go to the indicators creator in MQL editor.(if you don know how to do it just google it) I know there are many versions of the indy available Sorry I cant be of more hesitance
I think it was an error to the fact that i've a build 600+ so i took the last indi in the sonic thread.
My name is Martin... Martin Gale
  • #2,240
  • May 15, 2014 4:28am May 15, 2014 4:28am
Quoting condor666
{quote} I think it was an error to the fact that i've a build 600+ so i took the last indi in the sonic thread.
Maybe.

I hope its working now
We miss 100% of the shots we don't take
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