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A very simple system - trade with arrow

  • #661
  • Jul 1, 2016 9:48am Jul 1, 2016 9:48am
EJ ended BE, missed TP by 5 pips
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EA TP reached
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  • #662
  • Jul 1, 2016 11:01am Jul 1, 2016 11:01am
Quoting pips29
gone long....let's see {image}
profits taken..calling it a day too.
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Click to Enlarge Name: EURNZD m15 (07-01-2016 1659).png Size: 49 KB
the cautious seldom err....C
  • #663
  • Jul 2, 2016 1:04am Jul 2, 2016 1:04am
stumble across this thread with MA dashboard... worth to try to catch the strength

http://www.forexfactory.com/showthread.php?t=545718
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  • #664
  • Jul 2, 2016 4:35am Jul 2, 2016 4:35am
Quoting Foolsgame
stumble across this thread with MA dashboard... worth to try to catch the strength http://www.forexfactory.com/showthread.php?t=545718
Thanks for this FG. In a way similar to the users of the MADdash board, for the past week I've started using the correl8 indi on the Daily chart, adding to PA and APB colour change on the Daily, to identify the currency pairs that I should look at on the 30m. It's cut down the pairs that I dash through every 30 mins from over 20 to less than 10, so I'm enjoying that. A measure of the effectiveness of this is the number of successful trades I see on this thread and likica's and mehdi's threads that are on pairs that I don't have open and, after a few days I've concluded that I'm not missing much. I'll use both the MADdash board and the correl8 indi for a while to see what I learn.

Re the trades that I miss: I like the logic of the currency strength comparisons that the correl8 and MADdashboard make. On the pairs that are not identified as strong versus weak (or weak versus strong) there is presumably a chart that is not moving much or, as pipEasy once put it, "nicely." There will at some point be a set-up and break-out trade to change the balance of each of those pairs. I don't know if the set-up that produces the break-out trade is the one that I see now or is any of those that occur in the next x days, so I'm happy to wait for it to move first, change the balance of the pair, and then put it on my list of pairs to open. That lets me cut down my workload a great deal. I'd rather miss that break-out trade than fail with the presumably several other set-ups that don't result in a break-out. It's similar to price returning to a resistance again for the "n"th time. You don't know if this is the time the resistance is going to break, or if price is going to bounce off it again, or just going to hang around for an indeterminate time.
Thanks for your help, warmth and straight talking Heather.
  • #665
  • Jul 2, 2016 6:49am Jul 2, 2016 6:49am
Quoting Foolsgame
stumble across this thread with MA dashboard... worth to try to catch the strength http://www.forexfactory.com/showthread.php?t=545718
I took a look at it, saw a lot of colours and figures..not for me mate, too difficult to understand. GL with this. Perhaps you can show us how it works on live trading
the cautious seldom err....C
  • #666
  • Jul 2, 2016 7:00am Jul 2, 2016 7:00am
I think we should define the trend using the 200 ema on the daily for our trading. To make it simple I define a trend as down if price is below the 200 ema, so any trading towards the daily 200 ema is considered countertrend trading, agree?
the cautious seldom err....C
  • #667
  • Jul 2, 2016 7:16am Jul 2, 2016 7:16am
ok, since we agree, we can see most pairs are in downtrend as price is below the 200 ema. Exceptions are e/g n/u ,a/u,gold and oil..so what do you make of this? I would say commodities pairs are going up as well as the commodities. Whether they start falling is not of concern to me as the big boys will take care of the movement. I am here to track and follow the big boys and hope to take the crumps they "overlook"
the cautious seldom err....C
  • #668
  • Jul 2, 2016 7:24am Jul 2, 2016 7:24am
Hi guys, but the same job held him in much more simple indicator to use "currency strengh alert" in the chart below
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Click to Enlarge Name: Cattura.PNG Size: 94 KB
  • #669
  • Jul 2, 2016 8:51pm Jul 2, 2016 8:51pm
i got some idea using the Madash strength to filter out trade...will add up as i post some trade too next week. i add up the idea of 200 ema as the trend to first page and i love colour and figure pips
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  • #670
  • Jul 2, 2016 9:18pm Jul 2, 2016 9:18pm
Quoting pips29
ok, since we agree, we can see most pairs are in downtrend as price is below the 200 ema. Exceptions are e/g n/u ,a/u,gold and oil..so what do you make of this? I would say commodities pairs are going up as well as the commodities. Whether they start falling is not of concern to me as the big boys will take care of the movement. I am here to track and follow the big boys and hope to take the crumps they "overlook"
well said bro... big boy are playing their game and we just follow thier steps
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  • #671
  • Jul 2, 2016 9:20pm Jul 2, 2016 9:20pm
Quoting giamma23
Hi guys, but the same job held him in much more simple indicator to use "currency strengh alert" in the chart below {image}
not sure bout the coding behind but i need something more which MAdash might be a better option for me
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  • #672
  • Edited 5:36pm Jul 3, 2016 7:32am | Edited 5:36pm
Quoting Pipsalon
I am thinking about a different exit strategy. Most of the time when my initial TP gets missed my trade ends up BE. Let's say my SL and TP is 40 pips. I take out 50% of the position at 25 pips and put my sl to BE and the other 50% get's taken out at 40 pips or BE. I think there must be an EA to manage this.

This is my personalized EA, it will do all the above and more. Let me know if you need any assistance in respect of your desire settings. It will also place trades for you via instant market price and pending order @.50/.100 levels (just simple buttons on your charts).


Guys, you have a nice thread here, I will start posting here from this week, hopefully (I trade with a similar system).



Happy trading week ahead,
Yomi
Attached Image
Attached File(s)
File Type: ex4 EsikeTrader.ex4   20 KB | 868 downloads
Time always comes before price
  • #673
  • Jul 3, 2016 8:54am Jul 3, 2016 8:54am
Quoting fxrabbi
{quote} This is my personalized EA, it will do all the above and more. Let me know if you need any assistance in respect of your desire settings. It will also place trades for you via instant market price and pending order @.50/.100 level (just simple buttons on your charts). Guys, you have a nice thread here, I will start posting here from this week, hopefully (I trade with a similar system). Happy trading week ahead, Yomi {file} {image}
Thanks Is there a thread where I can read about the options and settings of this EA? Looking forward to see some post of you here
  • #674
  • Jul 3, 2016 8:56am Jul 3, 2016 8:56am
Quoting Pipsalon
{quote} Thanks Is there a thread where I can read about the options and settings of this EA? Looking forward to see some post of you here
Hi Pipsalon,
Take a look on his profile at the replies he's made.
Thanks for your help, warmth and straight talking Heather.
  • #675
  • Edited 3:02pm Jul 3, 2016 2:11pm | Edited 3:02pm
Quoting Pipsalon
{quote} Thanks Is there a thread where I can read about the options and settings of this EA? Looking forward to see some post of you here

This is my settings for my short-term trading system that look similar to this great system.



1. MM: 2%.

2. Take Profit: 50pips (500).

3. Stop Loss: 25pips (250).

4. BE Point (points): 30pips (300) - This will accommodate the broker spreads and slippage of any kind to give enough room for the trade to move further.

5. BE Value (points): 25pips (250) - This is the actual pips that it will first lock, where it will move your SL to BE - it's as good has taking off 50% of your profit.

6. Trail Activation: 31pips (310) - This when your trail will start to work.

7. Trail Stop: 10pips (100) - This will be the distance between your stop and current price. Your trail will not move if it less than 10pips.

8. Trail Step: 1pips (10) - This is the manners/rate by which the stop/trail will be moving after each increment of pips.


NB: You can use the above settings to set yours according to your trading style.
One of the benefits of using EA to manage your trades is that it takes all emotions away from your trades.

Please, let me know if you need any further help as per the settings of the EA.



Happy trading week ahead,
Yomi.
Attached Image
Time always comes before price
  • #676
  • Edited 10:39pm Jul 3, 2016 10:08pm | Edited 10:39pm
here you guys all... some example and testing going on using MAdash..

15 min TF
from the 15 min TF we can see a clear downtrend with all the the price trading below 10,34,200 ema and the price break through the 00 then come back hitting the resistance and turn down again.

Madash(10 ema)
UCAD PAIRS: price trade below 10 ema of H1,H4 and D1
D1: CAD strength is higher than USD, though just tiny bit
H4: CAD is no.2 strong and USD is no.2 weak
H1: CAD and USD is building up it strength different

* no trade enter as i usually don trade UCAD on the AS, just a illustration of my idea*
*edit* AU is facing strong resistance at 0.75000, so it will be as risk to trade the CAD too
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 64 KB
Click to Enlarge Name: XAUUSDH1.png Size: 80 KB
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  • #677
  • Jul 4, 2016 3:20am Jul 4, 2016 3:20am
first trade of the day.... just realize on the USD bank Holiday...
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  • #678
  • Jul 4, 2016 3:23am Jul 4, 2016 3:23am
another example for the Madash uses..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADM15.png Size: 83 KB
Click to Enlarge Name: XAUUSDH1.png Size: 80 KB
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  • #679
  • Jul 4, 2016 4:48am Jul 4, 2016 4:48am
Quoting Foolsgame
another example for the Madash uses.. {image} {image}
see how the AUD and CAD react with the USD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 63 KB
Click to Enlarge Name: USDCADM15.png Size: 65 KB
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  • #680
  • Jul 4, 2016 6:27am Jul 4, 2016 6:27am
took shorts on u/y and e/y..not expecting much as the US is on holiday
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY m15 (07-04-2016 1226).png Size: 64 KB
Click to Enlarge Name: EURJPY m15 (07-04-2016 1226).png Size: 66 KB
the cautious seldom err....C
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