Parabolic SAR - that's all!

[pip huntter]

Originally Posted by dpaterso

Actually - I'm also starting to notice something else here:

Remember that 'da big boyz' will look at the close on the daily charts - not the shorter timeframes.

SO:

MAYBE - if you're going to trade the shorter timeframes i.e. anything shorter than the daily timeframe - you should only take positions in the same direction on the shorter timeframe as the daily. Just a thought.

The reason I'm saying this at the moment is because GBP/NOK is showing me the 'thumbs down' and is in a loss and, on the daily timeframe, the price has NOT done a proper reversal yet i.e. the price is still well below the 50 EMA on the daily timeframe.

Regards,

Dale.

Dale that is why i want to stick with the PSAR as a trend to be use as a confirmation with the SMA'S or EMA'S.

Coz u know there is no point to enter a trade for going short while the PSAR is showing UPTREND.

Another thought 1 hour is not really good u get lost of false signails. I don't know i applyed it on 2 pairs and it seems not working like when u do in biggier time frame.

Akram

[Hypechic]

So on what timeframe did you take this trade? The 1hr?

Originally Posted by dpaterso

Actually - I'm also starting to notice something else here:

Remember that 'da big boyz' will look at the close on the daily charts - not the shorter timeframes.

SO:

MAYBE - if you're going to trade the shorter timeframes i.e. anything shorter than the daily timeframe - you should only take positions in the same direction on the shorter timeframe as the daily. Just a thought.

The reason I'm saying this at the moment is because GBP/NOK is showing me the 'thumbs down' and is in a loss and, on the daily timeframe, the price has NOT done a proper reversal yet i.e. the price is still well below the 50 EMA on the daily timeframe.

Regards,

Dale.

[forexology]

Dale:

Last week was a bad week for me but my trades right now look good.

Open Positions

XAG/USD short +550 pips
XAU/USD Short +397 pips
USD/JPY Long +63 pips
USD/JPY Long +63 pips
USD/JPY Long +76 pips
EUR/USD Short +8 pips
EUR/USD short +76 pips
EUR/USD short +66 pips
EUR/USD Short +3 pips
EUR/USD short +69 pips
EUR/USD Short +69 pips
EUR/DKK Short -5 pips
EUR/GBP Short +26 pips
EUR/GBP Short +15 pips
GBP/CHF Long +100 pips
USD/NOK Long +352 pips
EUR/AUD short +34 pips
EUR/GBP Short +23 pips
GBP/JPY Long -22pips


Still pippin the PSAR with the indicators. I'm even losing track of what exactly I'm doing. I really dont credit myself with any great skills at this, so it's just fortuituous that it looks so good now, plus your guidance all.

I made some heavy losses last week with my erratic late entries and early bailing out. Dale I actually hedged a long position in gold that stopped out on me.

The present positions remind me of Friday morning. Should I take profit and run?

I have started to set stoplosses at the 50EMA. Once I pass breakeven I will shift to the PSAR. Otherwise I use the 3 hour PSAR for stoploss.

It's proving quite a mental and time management feat to keep up with the revisions on a forum like this. But if you started an independent site, even a free blog like mine forexology then we could update the system rules in organised links. Hey when you're done you could sell the site to a pippin school or something.

Glendon

[forexology]

The memories of Friday morning haunt me so I'm itching to take profit and run. I leave for work in about an hour.

[capt.findus]

i would..
but i have a short term mentality!

[forexology]

In order to protect my current profitable positions I have gone to the 30 minute charts and modified my stoploss settings to the 30 minute PSAR and 50 EMA. Is that the idea Dale?

capt.findus: Yea! I know what you're talking about when you say short term but keep company with threads like this and you eventually develop the confidence to hold on a little longer with methods to protect your profit.

[robstyle1980]

Hey Timbaboy

I've been having the same issue with trying to find a good broker to use with MT4 as I really like the platform. The brokers I've been interested in are InterbankFX and Alpari, but Alpari you have to have certain high qualifications to join them if you are a US citizen. I get mixed reviews about InterbankFX. The list is huge for MT4 brokers. I've just been googling "MT4 Brokers" to try and find one. You can usually find a lot of forum subjects on it with people's recommendations.

Overall, I'm interested in using Oanda and Delta and might just give up on finding THE Mt4 broker. Right now I've been choosing Oanda over Delta because its ease of use. I may start with them and move over to Delta, eventually. Another broker that has caught my eye is HotSpotFX. They seem pretty good, but I currently don't have the funds to open and account with them... I think its $7500 minimum.

I'm trying to make my mind up within the next couple days because I want to go live soon.

Heres a list I found from some forum with MT4 brokers... however, it was written sometime in 2006 so there are probably more brokers out there now.
Forex Factory - View Single Post - MT4 Indicators Usage Tutorial/MQL4 Reference Documents

[robstyle1980]

Good morning all!

As I said, there would be 15,000 posts by the time I wake up! Dale, I see you have come up with some good ideas on how to trade this system. I'm gonna start demoning it soon as USD/CHF is looking to be a good start to go long today (on the daily chart)... will have to see how it closes.

Taking trades on each time frame makes sense, but I think my brain would overload with trying to remember the positions and keeping track of it all. But that is what I'm loving about either of the systems we have here... they give you the freedom to either glue yourself to the computer every hour or just daily.

We shall see how this works. Dale, I think you've done well at providing not only 1, but 2 systems that folks can choose from. If PSARism works for you, by all means, use it. If this new system works for you, use it. I think the biggest lesson of all through this whole thing is to stick with whatever system you use at the time. Trade as the rules say to trade and do not stray or else you end up losing out.

[dobro]

I recommend Oanda - a more limited platform but orders are processed electronically and not thru the dealing desk plus you can live trade AND keep the unlimited time for the demo. demo trade an idea that you might use but trade live with your proven strategy. Great spreads too.

[pip huntter]

Hello folks,

ok ok i think i am so idiot last week if u all guys rememmber i had 3 postions they were

USD/CHF
EUR/USD
SILVER/USD

and when the news on friday came perfect i was so happy then it went in direction that i hate late on friday i was holding all these postions with loss 29 pips

Today what happened is

usd/chf was at one point 100 pips profit
Silver was 100 pip profit
EUR/USD was 40 pips profit and it came back to 0 pips profit i closed it unfortunatly as i was paniking for another reversal what happened now is if i was holding this postion i would gain like 70 pips

So back to Dale's new system i opened yesterday

GBP/CHF cos it was meeting all the requirnments now what happned it was 100 pips profit and now it is dancing on 90 pips profit

What i want to say here Dale is that both systems have there own charm the old one u have to trade it while u have enough margin and u have to have lots of patience but it has it 's own charm.

The new system is telling u exactly when to enter but it will never tell u all the time when to go away for fishing and close your postion!!

And i agree with u that u should have a traget while u trade with this system which is u double your size and take these pips and wake away for other posible entry with any other pairs.

Any ways i know that will never add u alot if us still hold lots of loss but at least it will make u know and feel that u never let us down on any of what u posted 3 month eariler and u r not wasting our time and belive me if any of us will have this feelings towards u your (our) thread will never be the LONGIEST ONE IN BABYPIPS.

So keep up the good work and let us focus more and more. I myself i really know lots of stuff that i never knew about before i participate on this lovely thread it is one of my daily rotuine that i am doing (i mean my hourly routine!!!)


Regards,

Akram