10 pips / day (NBoP)

[uptick]

Originally Posted by PIPology

Hey Burbor,

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uptick - good for you, i don't trade USD clone currencies (AUD, NZD etc).

hahaha. pull the metal lamp post out of your (you know what). i was correcting your inaccurate statement of audusd being a "dangerous pair that it's more chaotic than any other. And the spreads are HUGE. " I guess you think gbpjpy is not chaotic and has tight spreads..haha.

relax a bit and have fun. burbor was wishing you good luck and you bash the guy. geez.

good luck.

[perfectsun]

Originally Posted by PIPology

2. I suggest you to get another charting software because that broker displayed wrong a pattern for you. I attached a picture from my chart broker and I NEVER TRADE THAT PATTERN. That pattern means indecision at that point. There is no strategy to show the next move after that. It's all based on luck if you trade it. You weren't lucky. When I see it I am happy to get out flat. You should exit at that point.

If I were to trade AUD/USD I would have enter like you with a little worry because W%R was too close to RSI and rarely RSI goes near 30 level (and when it goes it rings bells that price might jump). And more, that pattern would bring worries and I would have got out instantly at close of that candle.

Can U attach that picture please, let me see the difference. which MT4 broker do U recommend for charting? Can U attach your TPL?

Regards from Europe.

[PIPology]

Originally Posted by perfectsun

Can U attach that picture please, let me see the difference. which MT4 broker do U recommend for charting? Can U attach your TPL?

Regards from Europe.

I forgot to attach it to the post I replied to you. I hope now it's visible.

I don't share my TPL. It's too easy to build the system. From your picture you set it up correctly less the setting for RSI. Go to RSI properties and Apply it to OPEN not to Close. Maybe if you had RSI applied to Open you would notice how close W%R retraced to RSI

For charting I use MT4 from Migfx.

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uptick GEEZ this is my thread, my system and I don't see any of your post to improve something. People read this topic for some reasons and you are ruining my harmony. Stop or I will have to report you. Thanks

[uptick]

Originally Posted by PIPology

I forgot to attach it to the post I replied to you. I hope now it's visible.

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uptick GEEZ this is my thread, my system and I don't see any of your post to improve something. People read this topic for some reasons and you are ruining my harmony. Stop or I will have to report you. Thanks

haha... thats what a forum is about. if you dont want people to comment, dont start a thread.

i just posted my thoughts. keep up the good work and keep making those pips. good luck!

one of my strategies is similars to yours, thats why your thread intrigued me.

[PIPology]

Hello again my friends,

Today was another great day in Forex. Today's hero: USD/JPY.

Here is the chart:



Also the video of the trade: YouTube - USD/JPY-11-04-2008

I moved the RegChan because I was searching for a better channel.

Signals:
2 EMAs crossed after the big drop 12.00 GMT
MACD turned down also at 12.00 GMT
And after 1 hour we got a retrace W%R confirmed at 13.00 GMT

Entry:
13.00 GMT: SELL @ 101.13 with 1 lot
SL: 101.14 + 10 pips = 101.24 (never reached)
Target reached in 3 minutes: 101.03

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

That was all for today. It was a weak week.

Happy PIPin' and relaxing weekend

[Sweet Pip]

Hi PIPology,

Couple of questions for ya. I too am using MT4 and applied the Linear Regression Channel.

1) I find the Regression Channel adjusts itself as the candles develop, and if a trend changes direction, it draws a new one all on it's own...so is this the same tool you are using?

2) You have the MA's also in the RSI/%R window, and another MA in the MACD window both with a >= sign. I tried overlaying the MA's but it doesn't seem to allow it... is this something custom?

I tried a couple of trades and both were successful... and it does seem simple

Thanks

[PIPology]

1. The RegChan develops if you place the last point to last candle (it develops until candle closes).

2. Those MAs are for orientation only. MA's can be applied to other indicators. I won't take time to explain how, learn for yourself.

The strategy is simple, timing is critical, right order at the right moment.

I will get back with today's trade if there will be any.

Happy PIPpin' !

Originally Posted by Sweet Pip

Hi PIPology,

Couple of questions for ya. I too am using MT4 and applied the Linear Regression Channel.

1) I find the Regression Channel adjusts itself as the candles develop, and if a trend changes direction, it draws a new one all on it's own...so is this the same tool you are using?

2) You have the MA's also in the RSI/%R window, and another MA in the MACD window both with a >= sign. I tried overlaying the MA's but it doesn't seem to allow it... is this something custom?

I tried a couple of trades and both were successful... and it does seem simple

Thanks

[Sweet Pip]

Originally Posted by PIPology

2. Those MAs are for orientation only.

Care to expand on that? Thanks.

[adrianro]

Dear Pipology
Excuse me that I am criticise your system but is a very good system to loose money!!!
The stop lose is very close and is very easy to be touch by a little price movement.
The ratio risk/reward is less then 1:2.

Regards

[PIPology]

Hello my friends,

Today was a flat day.

Here is the chart for Losing trade:



Everything was ok:
EMAs crossed at 09.00 GMT
10.30 GMT price breaks the RegChan and MACD turned up
11.00 GMT price retraces, W%R confirms.

Entry:
11.00 GMT: BUY @ 159.56 with 1 lot
SL: 159.42 - 10 pips + .02 spread = 159.30 or max 30 minutes
Target: 159.66
FAILURE !
Stop loss never reached. CLOSING the trade after 30 minutes without result.

LOSS: 159.56 - 159.44 = .12 = 12 pips x 1 lot x $10 per pip = $120


Here is the chart for winning trade that almost canceled the loss:



Signals:
10.30 GMT: EMAs crossed
12.00 GMT MACD turned down
12.30 Price breaks the RegChan and closes under it. W%R gives the confirmation for entry with that retrace.

Entry:
12.30: SELL @ 1.0224 with 1 lot
SL: 1.0233 + 10 pips + 2 pips spread = 1.0245 (never reached)
Target: 1.0214 - Successfully
Time of trade: 5 minutes

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

So, what I've learned today ? That I should wait for a Trend Line to Exist along with the RegChan. In first case no valid points for TL were found. So, next time I better wait for at least 2 points to trace a mini-TL to confirm with the RegChan. USD/CAD trade had a TL as a support for that range move in the morning

Thanks and Happy PIPpin' !