10 pips / day (NBoP)

[Sweet Pip]

Originally Posted by thirstypip

Thanks Sweet Pip. I think i understand what you mean. Will wait and see if it works, i.e if i did it correctly.

Do you know how far back should i start drawing the regression channel?

By the way, i think you are really helpful, based on previous postings i've read.

Thanks for your kind words

It seems the channel is drawn from previous days start...however, it is a rather subjective perspective and apparently Pipology moves it around to better suit the price action...narrower is better I believe.

I know I'm getting a little tired of redrawing it all the time for all the pairs I'm applying it to...then I end up missing many moves due to not being there when they happen.

So I just started working on an EA to test just how much the channels are needed vs just basing the signals on the macd & wpr values alone. Will share my results if worth sharing.

[PIPology]

That is what I call "feeling the market" That trade was great for you. I didn't take it because I wasn't in from of the PC. You can notice that the RSI and W%R don't even touch so there was hope for a continuation

Here is the trade that I took few minutes ago and I got out flat even if I knew it would reach the target. I don't want to stay too much in the market waiting for profit. Many will tell that if I would have wait 1-2 more minutes I would have got the profit. Yes, true, but sometimes 1-2 minute can be fatal for your account si I rather get out and try another time. I hope other traders to understand my point.

Here is the movie I recorded for everyone:

too-long.avi

And yes, the last week was weak, very weak. The market is slow and the movements chaotic. I am looking at GBP/USD in H4 and Daily that that's the disrespect that "big guys" show to traders. Those movements show us that They Don't Care about you or anybody. Those movements eat your life if you don't stay out.


Thanks and Happy PIPpin' !

Originally Posted by perfectsun

Let me post today's trade. At first I thought it went against me, I left position open, and then it shoot up to PT. I went away, other vise I would wait until the top and take more out of it. But so far, I am happy.
On the second picture you can see it went through my SL, but on real account was set even lower, all together 30 pips, so I was not kicked out.

Happy trading all!

[perfectsun]

Originally Posted by PIPology

That is what I call "feeling the market" That trade was great for you. I didn't take it because I wasn't in from of the PC. You can notice that the RSI and W%R don't even touch so there was hope for a continuation

No they did not touch but W%R continue down from there and touched RSI. It made me a bit panic at first, but I have learned so far W%R shows next move pretty exact. And I was behind the screen to get out, I risked my position and it came out great. It never touched my SL, but it was not looking good when I left the screen. And I didn't wait for next candle to close and to exit, because in that case I would make a draw down. I waited, and once more W%R was right. I attach next trade that evening, I didn't take it, because my currency meter was showing me that these 2 currencies were equally strong, but W%R showed me the way to go again.

I am starting to find this indicator great, the only problem is, you never know, weather is going to go on in the reversing direction and cross RSI or it is showing the reversal. TO know what to do in that moment is most important. But nevertheless I think even if it crosses RSI it is showing that reversal is coming anyway. I will observe it more, if somebody has any other idea please you are welcome to share. What do you think about this PIPology?

The trades I didn't take but worked later that night:

[perfectsun]

I checked back and found the example I mentioned. Please check the image attached and you will see what I mean. In this case a looser. Only experience would close the trade, next candle was already down 9 pips I think.

[PIPology]

Well you never know anything. That's why it's critical to follow some rules and respect them, to stay cool anytime

I saw EUR/USD yesterday, it was tricky and some people got fried. It's part of the game. BUT who has 0 spread on EUR/USD got his profit

Now, back to today's trade.

Today was a great day for trading. Either if you traded CAD/JPY or GBP/JPY was a great day.

Here is the trade for today:


So, what do we have here ? It's called CAD/JPY. The pair that helped me discover this strategy.
Here is the trade:
3.00 GMT: Price breaks the Regression Channel
6.00 GMT: The 2 EMAs cross and same time break the TL
7.30: MACD turns down, W%R stays above -80 level
Perfect Setup !
Entry: SELL @ 105.42 w/ 1 lot
Spread: 2 pips
SL: 105.42 + 10 pips + 2 spread = 105.54
Target: Reached in 10 minutes
Success !

Profit: 10 pips x 1 lot x $10 per pip = $100

That's all for today.

Happy PIPpin' !

[PIPology]

Hello my friends,

Today was another great day for trading in Forex using my strategy.

Here is the picture of the trade:



5.30GMT: Price breaks the RegChan and white TL and closes above them.
7.00GMT: Price makes the 2 EMAs to cross for the first time, but MACD is still down.
11.30GMT: Price makes the 2 EMAs to turn for the second time, MACD is still down but it shows optimism to turn up.
12.30GMT: MACD turns up, W%R is UP, we wait for a retrace of the price and watch closely the W%R indicator to go bellow -20.
13.30GMT: Price retraces, MACD still up, W%R retraces bellow -20 and didn't cross with RSI.
PERFECT Setup !

Entry: BUY 2 lots @ 163.00 (another sign that we can enter without problems is that price retraced exactly to 163.00 that acted as support)
Target: 163.10 (reached)
SL: 163.00 - 10 - 2 (spread) = 162.88 (never reached)
Time of trade: 25 minutes

Today's profit: 10 pips x 2 lots x $10 per pip = $200


Another pair that gave a signal was EUR/USD but I got only 3 pips from that one because trade was taking too long and I got out "flat" with those 3 pips in profit. (It happened @ 12.00 GMT)

That was all for today.

Happy PIPpin' !

[PIPology]

Hello again my friends,

It seems the market got some speed and here I am with a new trade for today.

CAD/JPY - base pair for my strategy gave a good signal and got me another 10 pips profit.

Here is the trade:



So, what do we have here:
5.00GMT: Early in the morning CAD/JPY made the 2 EMAs to cross and more it broke the white TL.
6.00GMT: Price turns the MACD up and closes above the RegChan, BUT the W%R is way above the -20 level, so we wait for a retrace
6.30GMT: Retrace happens, W%R confirms and didn't cross RSI, MACD still up and more price closes above the RegChan (that's good, because RegChan acted as a Support)
Good Setup !

Entry:
BUY 2 lots @ 104.58
Target: 104.68
SL: Too Far to bother place it, because at this point price don't have the power to move bellow the RegChan, it need at least one pullUP in order to fall so the entry was perfect.
Time of trade: 10 minutes

Profit for today: 10 pips x 2 lots x $10 per pip = $200

Comment: Why didn't I place a Stop Loss ? Because the market, as a living entity built on fundamental rules of gravity, needs to gain some altitude in order to fall and at this level (small) we can play with movements and get our 10 pips per day without headaches. And more, the price found support at RegChan upper band. As you can see, the candle that ended after our 10 pips profit it's a remarkable reversal one.

Happy PIPpin' !

[perfectsun]

I wanted to take the same trade as you did, but on my chart W%R touched the RSI so I stayed out.

HOw come we look at the diff levels. I need to change the MT4 provider I think.

Check my chart and yours.

[PIPology]

Hello my friends,

Today was another great day in Forex, because EUR/JPY did it again.

Here is the chart of the trade:



14.30GMT: Price broke the TL and RegChan. Close under them. 2 EMAs cross. MACD still up.
17.00GMT: Price turns MACD down. W%R still bellow -80. We wait for a retrace.
17.30GMT: Price retraces, W%R above -80. No resistance found at lower EMA.
Perfect setup !

Entry: SELL 1 lot @ 163.62
Target: 163.52
SL: 163.75 + 10 pips + 2 spread = 163.87 (too far to be reached at this level)
Target reached in 5 minutes.

Profit: 10 pips x 1 lot x $10 per pip = $100

I attached also the big picture of the chart to see the origin of TL and how it came to present day with RegChan. You can notice that at some level price broke again the TL and RegChan, upper direction but it hit the upper band of RegChan than dropping down again.



Happy PIPpin' !

[dobro]

I hope you will understand from the charts.[/quote]

Sorry but I don't understand. From what I can see the sucessful trade had a RSI crossing also; the same as the 2 unsuccessful - or I'm not seeing something. Hopefully someone can explain.