the second bad one was cad/jpy today I think round 7 GMT.
I would like just your opininon, I know all trades can not be successful. I made one good today with your system, the problem I have is aiming for 10 pips risking 20 or 25 SL. That is why I want to make sure to enter only 99% good signals.
Each system, each strategy has its own rules. As long as you keep the rules alive you canât get friied.
I expected a larger chart with your cad/jpy because i told you, it seems Regression Chan was wrong inserted into chart.
About Stop Loss: the only advice I can give you is to enter when you feel itâs right for you to enter, at that moment when you see SL is not so far from your daily projected loss (5-10-15 pips). I have trades when I donât enter because SL is too far or when I feel the market very volatile and unstable. Itâs happening everyday to spot a good signal with SL close and if it gets eaten by the market I donât feel sorry, I lost only 10-20 pips. I will recover them for sure because I like it, I love it and I know I can. Nobody can stop me, nobody can influence me, Iâm my boss, I do the rules and I score
In the future if you want me to help you please come with explicit details in order to make an analysis.
I am sorry but you placed the RegChan in wrong intervals. In all my pics thereâs nothing like that. You must draw the RegChan from 00.00 yesterday to 00.00 today.
I post 4 charts with reg channels form 00-24 yesterday and 00 to 8 GMT today. Which one to use as a brake of reg channel? Do you just extend yesterdays channels into today?
On your MT4, for example, go to your EUR/USD chart, right click on it and click on Properties, then go to upper tab to âCommonâ, on the right side of that window you will find â[]Show period separatorsâ. Check that box and click OK. This way you will see when a day starts and when it ends. Just drag your RegChan from starting period to ending period of the previous day.
As per today, I usually donât trade Friday and more, today is a flat day, weak market. See you on Monday.
Today wasnât such a great day, because GBP/USD tricked us :D.
Here is what happened:
7.30 AM GMT: Price breaks the RegChan and TL and turns the 2 EMAs (please notice that TL made a big angle with the RegChan - thatâs not quite good)
8.00 GMT: MACD turns down and W%R above -80 level
Entry: SELL @ 1.9795 with 1 lot (because W%R didnât retrace but continued after a small retrace so I better be careful - and more the big angle between TL and RegChan)
SL: 1.9819 + 10 pips = 1.9829 OR max 30 mins (or at the end of next candle after entry)
Target: 1.9785 (never reached)
Time of trade: 30 mins (exit at close of the candle)
Loss: 1.9795 - 1.9799 = - 4 pips x $10 per pip x 1 lot = $40 pips
Well there were only 4 pips loss or $40. I will recover them for sure in the next days.
here is the live trdae taken based on our singlas. It was a success, but lucky too, because it just hit target before it turned the other way. I attach pictures.
Iâm glad to see it worked for you. Itâs happening all the time to reverse thatâs why is better to keep the 10 pips profit limit or less if you are too suspicious Better safe than broke.
Getting back to todayâs trade, it was a real success and as I wanted, I recovered the loss from yesterdayâs failure and added some more profit because of perfect setup that happened earlier today.
Here is the chart:
I placed a Trend Line (green) between 2 important points (see the chart).
Early in the morning the 2 EMAs crossed very shy, around 2.00 AM GMT
Then,
6.00 GMT: Price breaks the RegChan, but not the TL, and also MACD turned down
6.30 GMT: Price breaks also the TL
(Please notice how TL and RegChan âworkâ together - this means no angle between them and their levels must be taken into consideration very serious.)
7.00 GMT: Price retraces and W%R confirms by going above the -80 level
Isnât this Setup Perfect ?
So, we enter with confidence:
7.00 GMT: Entry, SELL Order with 2 lots @ 1.9871
Target: 1.9861
Time of trade: approx 5 minutes
Target reached !!!
Profit: 10 pips x 2 lots x $10 per pip = $200 (-$40 from yesterday) = $160
I see we took the same trades. My SL was 1,9891, if I left the trade on, It would be all most hit, but then, look when it went now. Moved 100 pips downâŚ
But I am happy, with your systems my nervs are healthy, which is hard to say for the one I was using before. But I made 50 pips on a regular basics, but I would grow very old in a few years. So I like yours a lot.
Thanks so far, It would be nice to catch you sometime to chat live, since we do the same trading hoursâŚ
Hello! I would like to try your system, but I canât setup the MT4 template (sorry, but I am a newbie), please could you add it here for downloading or send me it by email. <[email protected]> . Thanks in advance!
Here is the chart for GBPUSD with your indicators in it. Im just curious if you would actually enter after that long up candle with arrow on it SHORT. If Im not mistaken according to your rules you should enter here. Am I wrong, would you enter on candle after this, which went down?
Thank you for answer, it seems like good system to skin the cat
Yeah, I joined this forum JUST so I can call out this laugher of a system.
As a trader for Morgan Stanley, Iâve seen some pretty ridiculous systems pushed in my day (hint, NO technical system works, but I think you know that already).
But does really expect any person with a shred of common sense thatâs possible to make trades with TEN pip stops and profit targets and actually be profitable?
Is anyone taking this guy seriously? I really hope no one is actually risking their hard-earned money on this bunk.
I mean, letâs consider the fact that he posts his âwinningâ trades a day later, perfectly retro-fitting scenarios that âcould haveâ yielded profits. I mean, is there any older trick in the book for scamming the masses?
Hereâs my challenge to you, boy-o.
[B]Post your trades in this forum with a time stamp b/4 you enter, post your exit with a time stamp, and that will prove youâre making ten pips per day.[/B]
Since you are the expert, care to share your trading ideas and strategies with most of the newbies like me in the forum? I am sure if you guide us we will fare better.
Excuse my next line, dedicated to our Stanley Morgue expert:
LoooL. You have big issues if you created another account just for my Topic and if you really work for Stanley Morgue I hope they insured everything on your department And please donât post here such things, itâs negative energy and I will be forced to report you every time to moderators. Thank you for your effort and now let us trade in harmony.
Now, letâs get back to the subject to give some answers:
[B]vidal[/B] please read the topic from the beginning and you will learn by yourself. Finally I will end by creating a video tutorial
[B]pepen[/B] your chart is ok, but Regression Channel is missing :), the W%R almost crossed with RSI and thatâs a bad sign, a correct TL would warn you about some details (like price closing above it (when W%R almost crossed with RSI). I attached a correct chart for you.
I usually donât trade Friday, itâs a very bad day full of surprises, but if I get a perfect setup I might take the risk.
Ray 1,
I dont know if this system works or not in real time market and thats why I ask this guy to clarify his set ups, so I can test it and see it on my own. Maybe you are right that it cannot work, but dont say something cannot work if you have no idea what you are talking about!
I know few guys who for Morgan Stanley, JP and UBS, all have great financial bacground and seem very smart, however they know nothing about private real time trading, but are big up noses to actually say someone is much better trader than them. From what you wrote I guess you would be same, otherwise you couldnt say such stupidity that technicals dont work. Ive been trading 10 years, first couple years loosing big time, because I was stupid enough to listen and trust people working for JPs, MS, GS, etc. Ive been to countless conferences, seminars, bought hundreds books, listened anything related to markets and most of it was crap. Than I trusted people who learnt basic TA and went teaching newbies like I was.
In the end Ive realized how this game work, most of the people never get it, its not about TA, nor FA or any other analysis, its about what you have between your ears and what you trust and follow. I use technicals everyday, also sentiment indicators, volatility and probability. I love Market profile and volume studies for futures, because there you can see how Big guys trying very succesfully to take money from public.
So get back to your job and dont try to be smart in field where you have not much experiences.
Now letâs focus on the subject because itâs not our problem that some people yell and scream because they have issues with themselves than with others.
I didnât name this topic: âReal Time Signalsâ in order to offer something real time. I offer a trading model that can suit anyone whoâs mature enough to trade with the brain not with the skull :).
Regarding trading and stuff I rarely look at Economic Calendar and if I do it I watch for Fed Rate and that happens once per month
Tomorrow is Monday, I already moved the RegChan in position and I think JPY pairs will make a good move in the next hours.