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As simple as possible: 00 level trading

  • #32,521
  • Jul 23, 2015 2:09am Jul 23, 2015 2:09am
Nasap,

Notice that your most simple yet effective also includes that you deviate from the original parameters...
Your SL 15, your TP 8 in these examples.
Do you suggest ( I think you do) that 10SL/5TP might be not themost efficient parameters to this system?
Remember, before bunch of trades you post with about4.3 pips TPs too...
Is the variation of SL/TP you decided based on something, or these are as separate projects into finding the best settings to run with?
there is always, always another trade!!
  • #32,522
  • Jul 23, 2015 2:51am Jul 23, 2015 2:51am
GBP/USD, H1 system.
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  • #32,523
  • Jul 23, 2015 3:47am Jul 23, 2015 3:47am
USDCAD to BE +10pips.

Trade Ideas:

1. My stochs All the way.....



Yomi.
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Time always comes before price
  • #32,524
  • Jul 23, 2015 3:52am Jul 23, 2015 3:52am
Nasap, can you or anybody else tell me how the Coral indicator is calculated? I need this to convert the formula into my trading software (not MT4)

I've been looking on the net but there is not much info on this indicator, any help would be much appreciated.
Persistence will get it. Consistency will keep it.
  • #32,525
  • Jul 23, 2015 4:29am Jul 23, 2015 4:29am
Quoting profitfarmer
Nasap, Notice that your most simple yet effective also includes that you deviate from the original parameters... Your SL 15, your TP 8 in these examples. Do you suggest ( I think you do) that 10SL/5TP might be not themost efficient parameters to this system? Remember, before bunch of trades you post with about4.3 pips TPs too... Is the variation of SL/TP you decided based on something, or these are as separate projects into finding the best settings to run with?
Nasap already mentioned that she introduced an algorithm that varies the SL and the TP due to market conditions.

Imho there are times (e.g. LO or NYO) during which you may shoot for wider targets.
  • #32,526
  • Jul 23, 2015 4:31am Jul 23, 2015 4:31am
Quoting Chake
Nasap, can you or anybody else tell me how the Coral indicator is calculated? I need this to convert the formula into my trading software (not MT4) I've been looking on the net but there is not much info on this indicator, any help would be much appreciated.
Have a look at this: http://www.forexfactory.com/showthread.php?t=172004

Contains a mq4 version of the coral indicator.
  • #32,527
  • Jul 23, 2015 4:37am Jul 23, 2015 4:37am
Quoting profitfarmer
Nasap, Notice that your most simple yet effective also includes that you deviate from the original parameters... Your SL 15, your TP 8 in these examples. Do you suggest ( I think you do) that 10SL/5TP might be not themost efficient parameters to this system? Remember, before bunch of trades you post with about4.3 pips TPs too... Is the variation of SL/TP you decided based on something, or these are as separate projects into finding the best settings to run with?
What you see are different trading styles with different setups. My dashboard is using an algorithm for the TP in a range of 4.3 - 15 pip with a SL of 17 while the manual trading uses TP 8.2 with a SL of 15. You and others as well may think about such SL as too big. You might be right if you have a few trades only, because one bad trade is enough to break you down. But we make hundreds to achieve our goals and most of them are winners!

nasap
The little nut in your head is called brain. Use it!
  • #32,528
  • Jul 23, 2015 5:08am Jul 23, 2015 5:08am
Quoting nasap
{quote} What you see are different trading styles with different setups. My dashboard is using an algorithm for the TP in a range of 4.3 - 15 pip with a SL of 17 while the manual trading uses TP 8.2 with a SL of 15. You and others as well may think about such SL as too big. You might be right if you have a few trades only, because one bad trade is enough to break you down. But we make hundreds to achieve our goals and most of them are winners! nasap
hi Nasap!

Thank you for your answer!
In fact what I thought of the SL size is the opposite what you suspect

I believe, that 8/15 gives a better ratio, (even if ever slightly better) than 5/10....more than that the commission takes less a %age point of the total profit.
I am quietly toying around the system most time, and found that the 1:2 RR was more like approx. 0.85/2.2...due the commissions.
Anything improvement that closing the RR gap and make the system more viable to less pro traders like me, who cant consistently make 90% win rate is welcome.
And I extra appreciate simplicity vs. more indis!
there is always, always another trade!!
  • #32,529
  • Jul 23, 2015 5:11am Jul 23, 2015 5:11am
Quoting Sniper1310
{quote} Have a look at this: http://www.forexfactory.com/showthread.php?t=172004 Contains a mq4 version of the coral indicator.
Thanks Sniper, you're a real help!
I did see that mq4 off the Coral indicator and studied the code. But MT4 code is not really my cup off tea and i had some difficulties to see what exactly was calculated.
That's why i hope someone can explain to me the logic off this indicator and i can then try to re-create it in AFL code (Amibroker)
If nobody knows, then i have to dive deeper in the MT4 code, it will take a lot more time but i'm sure i can figure it out.
Persistence will get it. Consistency will keep it.
  • #32,530
  • Jul 23, 2015 6:23am Jul 23, 2015 6:23am
Buenos días,

Todayīs trades;

#1: USDCHF to TP. At London Open, USD and JPY were going opposite ways. Reason enough for me not to touch EU and EJ.
Entry short at the 750 level and moving nicely against EURUSD, just the way I like it.
#2: GBPCHF to TP. Entry at the 400 level, with 45 minutes to go until GBP Retail Sales news.
#3: AUDUSD to TP. Waited for price to break the BRN first and entered after a small retrace.
#4: NZDUSD to TP. Exactly same story as trade #3.

Back to waiting mode until NY Open.

LuXing
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Wisdom begins in wonder
  • #32,531
  • Jul 23, 2015 6:29am Jul 23, 2015 6:29am
Quoting Asmodai
{quote} Great trades. I also took two trades on NU today. One thing i notice about your trades is the entry at a level after the lowest or highest price of the previous candle, not its close. Like we see on your second NU trade. Looking at your trades, you have great success on that type of entry. Asmodai
@Asmodai

Correct. I like my ZigZag stuff. Higher highs, lower lows, ...

LuXing
Wisdom begins in wonder
  • #32,532
  • Jul 23, 2015 6:38am Jul 23, 2015 6:38am
Quoting numberman
{quote} Is it convenient for you to share your entry time? That will help a lot. Numberman
If you think it helps, no problem.

First trade: 15:02:06
Second trade: 16:52:28

The above are my brokerīs server times.

LuXing
Wisdom begins in wonder
  • #32,533
  • Jul 23, 2015 6:46am Jul 23, 2015 6:46am
Quoting LuXing
Buenos das, Todays trades; #1: USDCHF to TP. At London Open, USD and JPY were going opposite ways. Reason enough for me not to touch EU and EJ. Entry short at the 750 level and moving nicely against EURUSD, just the way I like it. #2: GBPCHF to TP. Entry at the 400 level, with 45 minutes to go until GBP Retail Sales news. #3: AUDUSD to TP. Waited for price to break the BRN first and entered after a small retrace. #4: NZDUSD to TP. Exactly same story as trade #3. Back to waiting mode until NY Open. LuXing {image} {image} {image} {image}
thank you for the brief explanations/rationale.
  • #32,534
  • Jul 23, 2015 7:11am Jul 23, 2015 7:11am
Quoting Chake
Nasap, can you or anybody else tell me how the Coral indicator is calculated? I need this to convert the formula into my trading software (not MT4) I've been looking on the net but there is not much info on this indicator, any help would be much appreciated.
Apparently, the moving average in the coral indicator is the same as the "Jurik Smoothing" in the indicator I'm posting (MA_Method = 20). Hope it helps.
Jaime
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  • #32,535
  • Jul 23, 2015 10:18am Jul 23, 2015 10:18am
Guys just wanna hear your opinion about that type of trades given bellow. All of them had good Giraya numbers, but do you enter a trade when we do see previous high not far away from pending trade area(less then 5 pips)? As for last week these trades were not working at all and this week all of them would be in TP.
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  • #32,536
  • Jul 23, 2015 10:29am Jul 23, 2015 10:29am
Quoting orangutangas
Guys just wanna hear your opinion about that type of trades given bellow. All of them had good Giraya numbers, but do you enter a trade when we do see previous high not far away from pending trade area(less then 5 pips)? As for last week these trades were not working at all and this week all of them would be in TP. {image}
I do look at Giriya but not blindly. But the 3 other components that are important in my opinion:
1. Momentum
2. Times of trades (ideally 1-2 hours max 3 after market open) although this could be a little flexible after you get comfortable
3. Correlation with other pairs. EJ and EU in your example. What was EU doing at the same time.

Bring it all together and then you have a good one! Hope this helps.
  • #32,537
  • Jul 23, 2015 10:45am Jul 23, 2015 10:45am
Quoting joe12345
{quote} I do look at Giriya but not blindly. But the 3 other components that are important in my opinion: 1. Momentum 2. Times of trades (ideally 1-2 hours max 3 after market open) although this could be a little flexible after you get comfortable 3. Correlation with other pairs. EJ and EU in your example. What was EU doing at the same time. Bring it all together and then you have a good one! Hope this helps.
Joe12345 thank you for yours reply. How do you check momentum in another way than GIRAYA? Looking at lower time frame candle to see trend (not indecision) candles?
  • #32,538
  • Jul 23, 2015 10:58am Jul 23, 2015 10:58am
Quoting orangutangas
{quote} Joe12345 thank you for yours reply. How do you check momentum in another way than GIRAYA? Looking at lower time frame candle to see trend (not indecision) candles?
I think those wavy ASH lines can be helpful.
there is always, always another trade!!
  • #32,539
  • Jul 23, 2015 10:59am Jul 23, 2015 10:59am
Quoting profitfarmer
{quote} I think those wavy ASH lines can be helpful.
which ones? but most of the indies shows what happened in the history and seeing momentum from PA is much better thing, i think
  • #32,540
  • Jul 23, 2015 11:14am Jul 23, 2015 11:14am
Quoting orangutangas
{quote} Joe12345 thank you for yours reply. How do you check momentum in another way than GIRAYA? Looking at lower time frame candle to see trend (not indecision) candles?
Nasap, FxRabbi, LuXing all have described ways to determine momentum. Nasap/FxRabbi use moving average (5 or 10..to me it does not matter as I look at the angling line). FxRabbi is now onto stochs which does the same thing. An arrow or something is always good... It all comes down to a simple physics phenomena. First measure Distance travelled divided by time. ASH is a good proxy. If this is coupled with volume (hard to get this info and hence time of the day is very critical in my opinion as bankers are pouring in money at the start) you get momentum. IF EU and EJ are headed in the same direction that implies that the strength in Euro is causing that move even though there may be a USD or a JPY related trigger...Hence correlation is important.

Again, currency strength is just a GPS to know which pair to zone in. Correlation should tell whats causing the move. momentum should tell if there is "strength left" to take it to 5-8 pips.

For the records, I think this in essence is what master Udine does! Think about it. PDF! Thats it. BCC comes as you get better at PDF. Just my experience...

Safe trading!
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