HOOOORAY!! Everyone needs to thank JK for starting this thread. We have won the “Trading System of the Month” for June.
I just got back from vacation and need to get my head into the game for our short week.
I had a good morning: shorted the E/$ & E/gbp for plusses and took a -1.8p loss on the E/Y. All shorts and not looking for much over 15-20 pips. thanks all, d.
Hi everyone
Great thread…
I have set up my charts as per post 1. I have been watching all day and trying to see if I can pick out a good entry using this system. So here I am looking at the H1 GBP / USD at 15:53 on 05/07/2011 and I think I am seeing a good setup for a short… Would somebody be kind enough to confirm I am reading the charts right please?
Thanks
G
Looks good to me but BP pics don’t show up too well for me. I don’t know if it’s my computer or BPs. My only problem with entering on the 1st candle before it closes is that it can reverse especially on 1H or higher TFs. The opposite idea is get in early, grab some early pips, and then monitor the trade. Good luck, d.
hi guys, managed to upload the indicator to mt4. thanks again.
I saw that all the indicators are in place and i decided toshort Eur/usd 2 hours ago. Shortly after i place in the trade, the TDI
started to that the trend is reversing.
Did i do anything wrong or it’s simply an unlucky trade?
I’ve entered where the candle closed above the ema (green circle) as attached. will anyone kind to explain? Im trading on the 1H chart btw. thanks. =)
I would not have taken this trade short…yet. The EU has been in an uptrend based on 50EMA>100EMA since 27th of June according to my H1 chart. It has made wave after wave up after bouncing off the 50 EMA. It did break below the 50EMA therefore if I was shorting at that point like you did I would have gone for a squeeker trade and placed my target at the 100 EMA which it hit and has been flat on since. Where stochastics are moving upwards towards over bought and the price isn’t following, my guess is that that price will move down again soon, but I will wait for an overbought set up with indicators turning down and a candle closing below the 100EMA and 4EMA before deciding it’s a real move…even then it’s possible to be wrong.
sorry dudes… i typed wrongly. i LONG e EUR/USD when the blue candle closed above the EMA.
As such i’m down. lol
so can anyone tell me what went wrong?
i waited for the candle which is in blue to close above the EMA.
Or should i have waited for a blue candle that is entirely above the EMA before i
entered a long trade?
HOOOORAY!! Everyone needs to thank JK for starting this thread. We have won the “Trading System of the Month” for June.
I just got back from vacation and need to get my head into the game for our short week.
Read more: 301 Moved Permanently
We did it yea!!!
Thanks for all the encouragement. I truly hope everyone makes tons and tons of green pips!!!
jonjon it looks like it was a reasonable entry. Getting stopped out happens just make sure your stop loss isn’t to tight.
Hindsight is 100%, too bad future gazing isn’t. There was no way to tell that the mkt was going flat and somewhat choppy - it happens. I can’t tell but the session might have been going into “quiet time”, no volume, and yet if I understand that you went long you were doing so off Supp. which is good. Some trades just don’t go as we want them to.
Been evaluating this for some time…its quite brilliant! I usually look for the candles to be closer to the EMA line for indication of trend weakness, stop loss limits set a bit below the lowest/highest wick. Thanks for this!
thanks jk and dobro… will continue to fight for green pips! cheers everyone.
Hi Johnny,
I have been using a similar system on daily with all major pairs. I am running into loss since my exit strategy is fuzzy. I wait for HA candles to change color- and most of the times it wipes off the whole move(if not getting into the loss zone). If you can explain the exit strategy for this system, I will really appreciate it. Btw…Keep up the good work on this thread.
Thanks,
K
Hi everybody,
Found this thread because it got the best system award fot June. I ve just opened a demo account on fxdd to see how it goes. Thanks to everybody for making this thread so lively.
I bought the gbp/$ & the A/$; got +13 pips on the 1st, -3 on the last for my 10 pip goal for the day. The A/$ has actually gone back long and I wouldn’t have taken a loss but I had to leave the house for a while and didn’t like that trade well enough to let it run.
AKS - I use S/R or the last swing hi/swing lo for SLs. BigE over on FF uses the swings and says he is rarely stopped out. A good thread to read up to the time he goes in the hospital; after that others take over the thread and discombobulate it.
Here is an attached chart showing a good setup on the 4hr EUR/USD chart that confirmed at 2am est yesterday that would have yielded over 100 pips. I use an extra indicator(williams%) to confirm as stated in my previuous posts. Also note the divergence between the stochastics and the chart. You Brits could have jumped on this one. I like to sleep at 2am for some reason. If I would have traded this I would have probably exited this trade around the time I took the screenshot of this chart since the green TDI line was touching the 32 line. You may want to exit when the line actually goes below the 32 line but it does not always go below before changing directions. So, if you use that exit strategy you probably want to lock in some profits with a stop in case of a bounce off the 32 line.
Thanks Dobro. My question however was on what is the best way to exit a trade in this system setup? In the original post these were the 4 ways to exit-
exit at nearest resitance/support
exit at 1:1 r:r
exit when price crosses the 5 moving average
or exit when tdi hooks, curves like a question mark or gives opposite signal.
which option have you found more profitable?
Hi
I just added the indicators and looking forward to test run it, but by the looks of it, this could be worth it. I will get back to you with more feedback. Thanks for sharing.