Parabolic SAR - that's all!

[Hypechic]

Where's everyone? I've been stopped out of my EUR/GBP position at a small profit. I will not be online for the next 4 days so I'm seriously considering closing all my positions, at least the losing ones.

[dpaterso]

What do you mean 'where's everyone' - I just typed a book for you to read!!! (Or were you meaning to say 'where's everyone ELSE')!!!

As far as closing losing positions is concerned - I read somewhere once to 'close your losing positions and let your winners run'. I cannot vouch for this statement though.

Big help huh???

Regards,

Dale.

[dobro]

Dale:

What TF do you use to determine trend? I like the idea of 5 min. TF to trade as I have the time to sit in front of the computer to do this (and I'm too impatient to try Daily.)
Do you use the 5 min for trend or something longer?

Thanks for all your work but you owe me a ream of printer paper for all of the "stuff" I have copied between the old strategy, old strategy revised, new, plus new revised. But keep it up as this has been a little profitable for me and educational to follow and learn.

Thanks again, d.

[dobro]

In rereading post #1090 is the PSAR the trend indicator? One might think so given the short time frame being traded. d.

[Hypechic]

Originally Posted by dpaterso

What do you mean 'where's everyone' - I just typed a book for you to read!!! (Or were you meaning to say 'where's everyone ELSE')!!!

As far as closing losing positions is concerned - I read somewhere once to 'close your losing positions and let your winners run'. I cannot vouch for this statement though.

Big help huh???

Regards,

Dale.

LOL, Dale it appears we were both typing at the same time.

[dpaterso]

Hey dobro - no problem - send me the bill!!!

Look - for this mornings 'action' - I put the same indicators on all the charts - the Monthly, Weekly, Daily, 4 Hour, 1 Hour, and 30 Minutes - and - by the 'the same indicators' I mean - 50 SMA / 50 EMA / MACD / Parabolic SAR. I looked for a pair where ALL the indicators were going in the same direction on ALL the timeframes i.e. GBP/JPY AND had recently started closing above (could have been below as well) 50 SMA / 50 EMA on the Daily Chart - the logic being that if it had JUST closed above the MA's then the 'trend' was 'new' and not becoming 'exhausted' already. That's it - moved the 5 Minute Chart - and 'the rest is history'.

Dale.

[dpaterso]

dobro, just got your last message.

I 'deemed' there to be a 'valid' and 'strong' trend when the following were true (on ALL timeframes):

1 - The price had JUST CLOSED above the 50 EMA AND 50 SMA on the daily timeframe AND the price was CLOSING above the 50 EMA AND 50 SMA on ALL the other timeframes.

2 - BOTH the 50 EMA AND the 50 SMA had started to turn or 'point' upwards.

3 - Parabolic SAR was going in the same direction as the MA's on ALL timeframes.

4 - MACD had crossed and was heading up on ALL timeframes.

ALL of these conditions led me to believe that there was INDEED a trend upward on this pair (would you believe).

That's what I looked for given the 'risky' nature of what I was trying to 'pull off' this morning i.e. margining 40% of my capital on one trade was no 'psychological walk in the park' I can tell you for sure.

In other words - ALL of the above 4 conditions had been met on ALL timeframes. How can you go wrong???

Put it this way - if it didn't work - I'd then have scrapped every single indicator and found another solution because with all of these indicators going in the same direction - again - how can you go wrong???

For what it's worth though - I'll tell you this - that if you 'reverted back' to 'pure' Parabolic SAR - I reckon it would still work - as long as your account could withstand the inevitable drawdowns - which I was NOT prepared to allow for this morning.

By the way Akram - I just read (again on one of the newsletters that you have all subscribed to not so) - that Gold futures were selling last week for about $745 - so - the way I understand it - there's your 'top' for now - and it sure looks like Gold is 'only just hanging on' around that mark ($743 for me at the moment).

Regards,

Dale.

[dpaterso]

For what it's worth - AUD/CAD seems to be a 'likely forthcoming candidate' for this same 'play' i.e. the price (daily) is actually touching the 50 EMA and 'hovering around' the 50 SMA and MACD looks like it's going to turn down sometime soon and Parabolic SAR has already given the reversal signal (this is another reason why I don't think Gold is going much further).

Put it this way - if Gold turns around - and AUD/CAD closes below both of those MA's blah, blah blah - then - we're good to go!!!

Regards,

Dale.

[pip huntter]

Originally Posted by dpaterso

For what it's worth - AUD/CAD seems to be a 'likely forthcoming candidate' for this same 'play' i.e. the price (daily) is actually touching the 50 EMA and 'hovering around' the 50 SMA and MACD looks like it's going to turn down sometime soon and Parabolic SAR has already given the reversal signal (this is another reason why I don't think Gold is going much further).

Put it this way - if Gold turns around - and AUD/CAD closes below both of those MA's blah, blah blah - then - we're good to go!!!

Regards,

Dale.

Dale,

so what u r saying is that the silver and gold is going to go up???the probelm is that the silver is stiing in 260 pips loss yeah i know it is to much but it was 370 at some point during the day i am still holding a profit with net 70 pips net.

Today there was no news so i was expcting that i will still hold this loss i think on friday i will see somthing moving more to my faviour that is why i am holding the 3 postions and i will post the result for to day to those who are intrested with both systems.i hope that the Doller will jump during this week other wise i will balme my self coz at some point i was having 350 pips in profit but it didn't excute the orders i hope i am not wrong about that.

yesterday i looked to the 30 min and i think it works perfect with the 30 min.diod u try it on 30 mint.

I think what u r doing Dale right now is that u r opening postions on 5 min with a huge margine i am i right like u hit and run away!

Regards,

Akram

[dobro]

Thank you, I get it now. Looking to pocket some pips. d.