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  • #321
  • Edited 8:46am Sep 15, 2014 4:18am | Edited 8:46am
EU and UCHF - candidates ... pairs appear oppositely correlated, price action / trend

UCHF -10pips (10pip TS) [false break from parallel bullish trend lines (15M TF), triggered entry then slowly sank to SL - never looked like a win]
  • #322
  • Sep 15, 2014 6:23am Sep 15, 2014 6:23am
Quoting Twinsbossom
It is observed that people here do not post their trading picture. It is easy to say I won 3 trades and lost 1. But when you post your trade picture, it will help others build their trading confidence.
The Trade Explorer in my signature is my demo account I use for trading this method and it's a public one so feel free to have a look at all the trades I've done. I'm just lazy posting up charts lol
Learning is all about about asking the right questions!
  • #323
  • Sep 15, 2014 6:25am Sep 15, 2014 6:25am
Quoting reeeen4
{quote} The Trade Explorer in my signature is my demo account I use for trading this method and it's a public one so feel free to have a look at all the trades I've done. I'm just lazy posting up charts lol
Great comment reeeen4! Your doing extremely well too.
  • #324
  • Sep 15, 2014 10:04am Sep 15, 2014 10:04am
Quoting reeeen4
{quote} The Trade Explorer in my signature is my demo account I use for trading this method and it's a public one so feel free to have a look at all the trades I've done. I'm just lazy posting up charts lol
Right, im also lazy posting the charts. But so far weekly results are good. using 7 TP SL.
Reaction is better than Prediction
  • #325
  • Sep 15, 2014 10:06am Sep 15, 2014 10:06am
Quoting griffinssoul
{quote} Great comment reeeen4! Your doing extremely well too.
Your findings are very helpful. basing from the data, 7 pips maybe a good approximation. for me 1:1 should be done as much as possible
Reaction is better than Prediction
  • #326
  • Sep 15, 2014 12:34pm Sep 15, 2014 12:34pm
Quoting griffinssoul
EU and UCHF - candidates ... pairs appear oppositely correlated, price action / trend UCHF -10pips (10pip TS) [false break from parallel bullish trend lines (15M TF), triggered entry then slowly sank to SL - never looked like a win]
your findings are very helpful! keep us posted
  • #327
  • Sep 15, 2014 5:31pm Sep 15, 2014 5:31pm
Quoting griffinssoul
{quote} Great comment reeeen4! Your doing extremely well too.
Thanks

Quoting mikajap
{quote} Your findings are very helpful. basing from the data, 7 pips maybe a good approximation. for me 1:1 should be done as much as possible

Yeah I think 7 pips seems to be working well but I agree that it probably should be kept to 1:1 I've been testing with a 10pip SL and I think it's not working too great.... it means even if I get 2 or three wins all it takes is 1 loss and most of the winnings are gone.
In a month I might start testing certain pairs just at the London open and see how that goes might get less losses.
Learning is all about about asking the right questions!
  • #328
  • Edited Sep 16, 2014 12:03am Sep 15, 2014 11:44pm | Edited Sep 16, 2014 12:03am
GU +5pips (6pip TS) [ Happen in a flash. Could have done a bit better but ATR(14)=6 and we were at the lower end of bearish parallel trend lines (15M TF). Actually, it was a breakout to the entry but it all happen too fast. Asian session ]
  • #329
  • Edited 2:09am Sep 16, 2014 12:01am | Edited 2:09am
Quoting reeeen4
{quote} Thanks {quote} Yeah I think 7 pips seems to be working well but I agree that it probably should be kept to 1:1 I've been testing with a 10pip SL and I think it's not working too great.... it means even if I get 2 or three wins all it takes is 1 loss and most of the winnings are gone. In a month I might start testing certain pairs just at the London open and see how that goes might get less losses.
Normally traders aim for 1:4 (Risk:R) or better so even if they are technically losing on average per trade their money management will make them win in the end (when ever the end may be). With scalping methods you are turning that around. However, IMO, anything with less than 1:1 is not sustainable. If you have 1:1 and 60% win say (which is remarkable in its own right) then it could possibly work. So, when ever I see strategies that rely on huge R:R against the trader (in some cases no SL strategy at all) then I immediately reject these.

update:

Just looking at the GU trade, it could be a good idea in the future to implement a stop-runner money management strategy which would improve R:R. That is you could TP 75% on the fixed target, reset the SL to BE and let 25% run with a TS? Perhaps automating this in MT4 or similar would be the way to go. However, this would also require a counter strategy - simply downsizing risk @ 75% of SL should things go bad.
  • #330
  • Edited 2:00am Sep 16, 2014 1:38am | Edited 2:00am
Candidates coming into the London session:

EU - looking ok on the D
UCHF - looking sluggish / consolidating on the D [ could be forming a bullish flag-pole? ]

The above pairs are locally well (oppositely) correlated but EU has produced less losses

ECHF - looking good on the D

GU - is still going strong with +41pips (Griff wipes tears ) and counting... but is now a [no trade]
  • #331
  • Sep 16, 2014 7:08am Sep 16, 2014 7:08am
Quoting griffinssoul
Candidates coming into the London session: EU - looking ok on the D UCHF - looking sluggish / consolidating on the D [ could be forming a bullish flag-pole? ] The above pairs are locally well (oppositely) correlated but EU has produced less losses ECHF - looking good on the D GU - is still going strong with +41pips (Griff wipes tears ) and counting... but is now a [no trade]
are you trading it in all pairs? what rules do you use?
Reaction is better than Prediction
  • #332
  • Edited Sep 17, 2014 3:09am Sep 16, 2014 7:30am | Edited Sep 17, 2014 3:09am
Quoting mikajap
{quote} are you trading it in all pairs? what rules do you use?
Just from the Major pairs but I seem to hover around EU / ECHF / GU / UCHF / EG. Also, its possible to look at any product with a low spread, like Major Indices.
If the spread become too large then its not possible / viable...

Simple rules : if the price action is sluggish around the entry take the ATR(14) value as target (unless this value is not practical). Otherwise take 2X ATR(14). To decide if a move is strong look at the local trend on the 15M TF - is it a breakout, extension, double bottom / top, etc

[ side note: if the entry in near a (psychological) 00-number you may wish too supersede the 1-tick rule in favor of a better entry price. This needs some more observation as there is a lot going on near the entry ]
  • #333
  • Edited 2:05am Sep 17, 2014 12:46am | Edited 2:05am
Everything is looking a little flat at the moment (pair-wise)... Keeping an eye on EU & UCHF as they are (oppositely) correlated with strength dependent upon consolidation of ECHF

Aussie Cash 200 (Fixed) +6points@75% (7points TS) + (Runner) 15points@25% (BE SL) : never in doubt, strong fundamentals, strong price action [ATR(14)=7 on 15M TF]

Just a re-think, runners usually work better if you go for at least 1:3 (with respect to the overall risk - what you started with)

[Side note: the re-entry strategy is apart of swilliam's original proposal, I forgot how detailed the original was]
  • #334
  • Sep 17, 2014 2:54am Sep 17, 2014 2:54am
no setups yet so far, waiting for a possible trigger on EU
Profit is on the other side of your mind
  • #335
  • Sep 17, 2014 2:57am Sep 17, 2014 2:57am
Quoting griffinssoul
Everything is looking a little flat at the moment (pair-wise)... Keeping an eye on EU & UCHF as they are (oppositely) correlated with strength dependent upon consolidation of ECHF Aussie Cash 200 (Fixed) +6points@75% (7points TS) + (Runner) 15points@25% (BE SL) : never in doubt, strong fundamentals, strong price action [ATR(14)=7 on 15M TF] Just a re-think, runners usually work better if you go for at least 1:3 (with respect to the overall risk - what you started with) [Side note: the re-entry strategy is apart of swilliam's original proposal, I...
Hi, your results are very helpfull. I also agree that there should be 1:1 risk reward, So the balance to TP and SL is key. 7pips can be a good set and forget. But like other said and told me, you can increase TP. This will depend of you think the setups can give more profits like news setups, breakout of trading range or inside days

Swilliam
Profit is on the other side of your mind
  • #336
  • Edited 3:17am Sep 17, 2014 2:58am | Edited 3:17am
Quoting swilliam
no setups yet so far, waiting for a possible trigger on EU
ECHF - no trade by rules - came up fast but its weakly correlated with UCHF it seems, which is a possibility (although not a candidate price-wise - too far from entry at the moment)

RED News could shake things up...
  • #337
  • Edited 5:03am Sep 18, 2014 4:30am | Edited 5:03am
Things looked good over the NY session (yesterday), setups for EU, ECHF & UCHF, but I missed it all... anyone get anything? UJ was a sure win.

Aussie Cash 200 (Fixed) +8points (8points TS) : never in doubt [Asian session]

Keep an eye on EU [NU could follow] - looking for a breakout of [local] bearish flag-pole
  • #338
  • Sep 18, 2014 5:18pm Sep 18, 2014 5:18pm
Yesterday was a really good day, I got wins with

EJ +14pip
UJ +15pip
GJ +13pip
AU +7pip
EU +7pip

All during Asian Session.
Learning is all about about asking the right questions!
  • #339
  • Sep 18, 2014 10:01pm Sep 18, 2014 10:01pm
Quoting reeeen4
Yesterday was a really good day, I got wins with EJ +14pip UJ +15pip GJ +13pip AU +7pip EU +7pip All during Asian Session.
Wow! You "caught the wave", well done. Over 50pips that's crazy!

AU is looking good...
  • #340
  • Edited Sep 19, 2014 12:37am Sep 18, 2014 10:28pm | Edited Sep 19, 2014 12:37am
Quoting griffinssoul
{quote} Wow! You "caught the wave", well done. Over 50pips that's crazy! AU is looking good...
Thanks, it's been a good day today too!!

AJ +18pip
UJ +11pip
EJ +19pip

My demo account is starting to look pretty good... 65.6% win ratio... might add this method to my live trading if I can get the win ratio up to 70%!
Learning is all about about asking the right questions!
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