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BO System? Here is "The Italian jOB"

  • #201
  • Sep 19, 2014 5:33am Sep 19, 2014 5:33am
Quoting MikeW64
{quote} Thanks sugarman, I took it as a signal and placed the trade as well. And yes, it was a winner. I'm still confused though - what generated the signal? That red line on your charts - where does it come from? Stochastic indicator on its own doesn't do it, does it?
Hi Mike

The red line is something I put on to show you that I`m trading the next bar, this line has nothing to do with the stochastic.
Plan, Patience, Profit
  • #202
  • Sep 19, 2014 5:36am Sep 19, 2014 5:36am
Quoting sugarman
Hi Mike The red line is something I put on to show you that I`m trading the next bar, this line has nothing to do with the stochastic.
Aaaha! So you just watch the stochastics to get over 90 or below 10 and then place the trade on the 5min candle close?
  • #203
  • Sep 19, 2014 5:47am Sep 19, 2014 5:47am
Quoting MikeW64
{quote} Aaaha! So you just watch the stochastics to get over 90 or below 10 and then place the trade on the 5min candle close?
something like that, keeps it clean, simple and effective.
Before Mike started this thread I was playing around the RSI and stochs, now I find just the stochs is enough, well it works for me.
Plan, Patience, Profit
  • #204
  • Sep 19, 2014 5:51am Sep 19, 2014 5:51am
buy eur / usd
Plan, Patience, Profit
  • #205
  • Sep 19, 2014 5:56am Sep 19, 2014 5:56am
winner
Attached Image
Plan, Patience, Profit
  • #206
  • Sep 19, 2014 6:57am Sep 19, 2014 6:57am
Quoting sugarman
something like that, keeps it clean, simple and effective. Before Mike started this thread I was playing around the RSI and stochs, now I find just the stochs is enough, well it works for me.
Thanks. I missed the EU trade, went out for lunch Good to see it win. How do you filter out the fake signals. And how do you decide what candle to enter the trade? If I look at the trade you took, why this candle and not the one before for example? I might wait until the stoch lines close up or cross over, but by that time it might be too late to enter the trade? :-o
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  • #207
  • Sep 19, 2014 7:03am Sep 19, 2014 7:03am
Personally I use 200 ema as a filter.
  • #208
  • Sep 19, 2014 7:11am Sep 19, 2014 7:11am
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Only the price on the chart can show the entrance to the deal...
  • #209
  • Sep 19, 2014 7:15am Sep 19, 2014 7:15am
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Only the price on the chart can show the entrance to the deal...
  • #210
  • Sep 19, 2014 7:17am Sep 19, 2014 7:17am
opportunity for a quick buy scalp at 1.2835 when it gets there.

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  • #211
  • Sep 19, 2014 7:22am Sep 19, 2014 7:22am
Quoting MikeW64
{quote} Thanks. I missed the EU trade, went out for lunch Good to see it win. How do you filter out the fake signals. And how do you decide what candle to enter the trade? If I look at the trade you took, why this candle and not the one before for example? I might wait until the stoch lines close up or cross over, but by that time it might be too late to enter the trade? :-o {image}
Mike

Looks like your stochastics are slightly different than mine, mind you have the same setting 14.3.3, what platform is that?
Plan, Patience, Profit
  • #212
  • Sep 19, 2014 7:39am Sep 19, 2014 7:39am
Quoting sugarman
Mike Looks like your stochastics are slightly different than mine, mind you have the same setting 14.3.3, what platform is that?
That was on TradingView.com. On my MT4 it doesn't look much different.
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  • #213
  • Sep 19, 2014 7:46am Sep 19, 2014 7:46am
Quoting MikeW64
{quote} That was on TradingView.com. On my MT4 it doesn't look much different. {image}
Ok, looks pretty much the same. So that red line you have that`s the bar I traded.
Plan, Patience, Profit
  • #214
  • Sep 19, 2014 8:55am Sep 19, 2014 8:55am
last trades of the week.

sell usd / chf
buy aud / usd
buy gbp /usd
Plan, Patience, Profit
  • #215
  • Sep 19, 2014 9:01am Sep 19, 2014 9:01am
Quoting sugarman
last trades of the week. sell usd / chf buy aud / usd buy gbp /usd
Attached Image
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2 wins
1 loss
Plan, Patience, Profit
  • #216
  • Sep 19, 2014 9:13am Sep 19, 2014 9:13am
Quoting sugarman
last trades of the week. sell usd / chf buy aud / usd buy gbp /usd
I took a ride on two of these Won AU and GU, good call, thanks
  • #217
  • Sep 19, 2014 11:46am Sep 19, 2014 11:46am
Big cojones needed to take countertrend trades
  • #218
  • Sep 20, 2014 1:41am Sep 20, 2014 1:41am
Morning All

Trading from 08.00 based on IG`s opening time to 15.30 (15.30 close this works around my day job) based on an open trade of £50 if the first trade is a loss I double next etc.

This weeks total comes in at +£2088.
Plan, Patience, Profit
  • #219
  • Sep 20, 2014 2:29am Sep 20, 2014 2:29am
Quoting sugarman
Morning All Trading from 08.00 based on IG`s opening time to 15.30 (15.30 close this works around my day job) based on an open trade of £50 if the first trade is a loss I double next etc. This weeks total comes in at +£2088.
Have you had 4 or more consecutive losses since you started utilising this system?
The results look awesome.
B777
  • #220
  • Sep 20, 2014 2:44am Sep 20, 2014 2:44am
The danger of this "system" without a filter is that in a strong trend markets can stay overbought and oversold for long periods of time. Of course with a reasonable stop loss and money management you should be able to circumvent this problem.
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