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trend catching with NonLagDot indicator

  • #721
  • Jan 12, 2016 11:31pm Jan 12, 2016 11:31pm
The following diagram represents an issue which I think is indicative of the danger of using the last swing high or low as a Stop Loss point and that is why personally I am against that method of setting stop losses.

The diagram indicates a potential exhaustion of the buying pressure nevertheless that was the first pullback on the chart and it triggered a buy. I would like to hear others thoughts on this issue.
Attached Image
  • #722
  • Jan 13, 2016 12:00am Jan 13, 2016 12:00am
A question of T/Fs. Trading manually you would just pass on the trade if you do not like the R:R. However a S/L of that size may not be that unusual on the H1.

On a lower T/F it worked well by the threads rules. (as circled) Just a B/E if I look for H1 confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd M15.gif Size: 26 KB
Good Trading
  • #723
  • Jan 13, 2016 12:17am Jan 13, 2016 12:17am
[quote=Dave_C;8687029]The following diagram represents an issue which I think is indicative of the danger of using the last swing high or low as a Stop Loss point and that is why personally I am against that method of setting stop losses. The diagram indicates a potential exhaustion of the buying pressure nevertheless that was the first pullback on the chart and it triggered a buy. I would like to hear others thoughts on this issue. {image}[/quote

​Dave I wouldn't buy AU there it is what we call late entry, I wait until I get better entry level bcz the move is exhausted. Good luck after all may be I am wrong.
  • #724
  • Jan 13, 2016 12:19am Jan 13, 2016 12:19am
Quoting Dave_C
The following diagram represents an issue which I think is indicative of the danger of using the last swing high or low as a Stop Loss point and that is why personally I am against that method of setting stop losses. The diagram indicates a potential exhaustion of the buying pressure nevertheless that was the first pullback on the chart and it triggered a buy. I would like to hear others thoughts on this issue. {image}
​Dave I would search for sell on AU pair and here a better settings.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 33 KB
  • #725
  • Jan 13, 2016 12:22am Jan 13, 2016 12:22am
we should have by now many pending orders Traders.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CADJPYM30.png Size: 39 KB
Click to Enlarge Name: EURUSDM30.png Size: 36 KB
  • #726
  • Jan 13, 2016 12:24am Jan 13, 2016 12:24am
GU also
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 25 KB
  • #727
  • Jan 13, 2016 12:29am Jan 13, 2016 12:29am
​EN also
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDM30.png Size: 34 KB
  • #728
  • Jan 13, 2016 12:47am Jan 13, 2016 12:47am
Quoting Lebaneese
{quote} ​Dave I would search for sell on AU pair and here a better settings. {image}
Thanks for your input. It is very much appreciated.

I chose hourly charts because the backtest results were better, particularly as I prefer to let profits run and I found that the NonLagDot color change on the 30 min chart was causing premature closures at the setting of 20.

When I expanded the length, the paint seemed unrealistic in that really I was plotting a lagging indicator. I then started looking at the hourly charts and found by backtesting that I could reduce the length back to around 40 or 50 and still manage to fully capitalize on trend exhaustion.

As you have highlighted the 30min chart paints a better picture in the described scenario and it will be interesting to see how this plays out in the next couple of hours. Shanghai Composite is down .82% at the moment and its close may influence your market today. This time of day when our market has closed does see a little indecision in that your market hasn't opened yet. My rationale for keeping a tight stop is for the reasons you describe in the 30 min chart and is probably the best way to autotrade the 60 min chart.
  • #729
  • Jan 13, 2016 12:54am Jan 13, 2016 12:54am
Quoting Dave_C
{quote} Thanks for your input. It is very much appreciated. I chose hourly charts because the backtest results were better, particularly as I prefer to let profits run and I found that the NonLagDot color change on the 30 min chart was causing premature closures at the setting of 20. When I expanded the length, the paint seemed unrealistic in that really I was plotting a lagging indicator. I then started looking at the hourly charts and found by backtesting that I could reduce the length back to around 40 or 50 and still manage to fully capitalize...
No problem at all , we are here to help each other, for me timing of the trade is important plus RR is also important for MM in your trade you post SL will be too big so even if the set up was good I will never take such trade, having big SL isn't for me, but not always I put SL on last swing sometimes I use different but to make it more easy for the thread and traders I choose last swing (even if it is not the best SL).
  • #730
  • Jan 13, 2016 12:56am Jan 13, 2016 12:56am
For now the basket should be all in plus result.
UC , AU , GU , CJ , EN .
  • #731
  • Jan 13, 2016 1:13am Jan 13, 2016 1:13am
Quoting Lebaneese
For now the basket should be all in plus result. UC , AU , GU , CJ , EN .
Hi Lebaneese master can i know normally what time you start trading?

Thank you.
  • #732
  • Jan 13, 2016 1:16am Jan 13, 2016 1:16am
Quoting Jerkmiew
{quote} Hi Lebaneese master can i know normally what time you start trading? Thank you.
I am +2 GMT , my trading start at 7:00 am my local timing and usually I end in couple of hours .
  • #733
  • Jan 13, 2016 1:48am Jan 13, 2016 1:48am
Tonights Asian session trades:

EURNZD +59.8pips
NZDUSD +10 pips and +14.6pips
AUDJPY -3.1 ( for some reason trailing started and it took me out of trade, no idea i was sleeping, although market moved 110pips on my direction, entry on 01:00 candle +2GMT)
GBPJPY +72.8 and +72.7 pips
EURJPY +10 and +6.4 pips
EURAUD +14.9pips
EURGBP -24pips
AUDUSD +10pips
USDCAD +10 and +11 pips
USDJPY +9.9 and +9.6 and +11 and +10.8 and -10.2 ( lots of trades on USDJPY 30min timeframe)
GBPUSD 10pips
EURUSD +9.7 and -5.1 pips

So tonights asian session total pips gain 310.8

Thank you very much again for this wonderful system, yet still same problem with Order is Locked. Although if i would not have the problem i would not have 3 massive gains +72 and +72 on GBPJPY and +59 on EURNZD.

Green pips to you all
  • #734
  • Jan 13, 2016 2:14am Jan 13, 2016 2:14am
Very interesting system. Still reviewing, but was wondering if the NonLagDot Indicator has an option to send audio alerts & email option when it changes color.
  • #735
  • Jan 13, 2016 2:31am Jan 13, 2016 2:31am
Yesterday: 8 loosers, 1 winner trading the 1 H chart...
Lost 2% of my account..
Bloody choppy markets.
  • #736
  • Jan 13, 2016 2:37am Jan 13, 2016 2:37am
Quoting celestin2003
Very interesting system. Still reviewing, but was wondering if the NonLagDot Indicator has an option to send audio alerts & email option when it changes color.
​Hint - try searching this thread - Top Left - "alert"
  • #737
  • Jan 13, 2016 3:15am Jan 13, 2016 3:15am
Still wandering what stop loss size is better. Lebaneese, can you tell please which is your average stop loss size in pips? Or min and max stop, when you chose not to open the trade?
  • #738
  • Jan 13, 2016 4:11am Jan 13, 2016 4:11am
Hi Maindrifriik

Did you achieve those results using the EA or manual trading..... Great results there
  • #739
  • Jan 13, 2016 4:33am Jan 13, 2016 4:33am
Quoting cuchuflito
Yesterday: 8 loosers, 1 winner trading the 1 H chart... Lost 2% of my account.. Bloody choppy markets.
​Can u show me please your entries so I can fix the problem and to see where was the problem with your trades.
  • #740
  • Jan 13, 2016 4:36am Jan 13, 2016 4:36am
Quoting Fedos
Still wandering what stop loss size is better. Lebaneese, can you tell please which is your average stop loss size in pips? Or min and max stop, when you chose not to open the trade?
you can do it visually try to trade the nearest point to TOP and Bottom not in middle of the trend so your SL will be small and u can get it back easily.
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