Big E Trading

dobro · July 21, 2011, 8:22am

I use Barry Stander’s “Support and Resistence” indicator for possible TPs. You can Google it. d.

SoniPipster:

Newbie trader here
Been following this system for a while and think there’s a lot of potential. Been following the rules and picking up good trades, although does anyone have a more sustainable exit strategy? I know that a lot of you sell off half the position at a target profit point, or use a R:R of 1:1, but I think there is more potential to let profits ride until the system tells you that its time to get off. I’ve been waiting for a candlestick to close above/below the 5 shift 2 EMA to exit, but find that sometimes that last candlestick eats right into all your profit! Ive also waited for a crossover of the stochastic, but find that its also sometimes premature and that although stochastic is overbought/oversold the trend can still have momentum.
Does anyone have a better exit strategy?

SoniPipster · July 21, 2011, 9:24am

Cool indicator! I see the past support and resistance, but how do you use it to predict possible TPs?

Jason_Rogers · July 21, 2011, 1:15pm

Hi anddaley,

TDI is not pre-loaded into FXCM’s platform, but it can be added. FXCodeBase.com has the TDI indicator coded for the Marketscope charts inside the FX Trading Station II and I have attached it to this post in a zip file.

If you need help installing the indicator into Marketscope, take a look at this post http://forums.babypips.com/fxcm/36585-mtf-moving-average-fxtsii.html#post224993. I included some steps on uploading indicators.

-Jason

TradersDynamicIndex.zip (1.76 KB)

semajio · July 21, 2011, 7:32pm

Can’t complain about that, nice one. Last night AUD/USD was showing great angle of separation after a cross downwards. Picked up the short trade on next candle, was great for about +15 in a few minutes. This system works well on AUD/USD.

dobro · July 21, 2011, 8:09pm

My goal is to catch 10-20 pips in a trade so if a Barry’s S or R level is too close I look elsewhere. There are pros and cons about taking 1/2 profits off the table at a certain point. Nial Fuller says why skip the main course and desert by removing profits; others say lock some in and enjoy a free trade. B’s S & R levels can help determine where profit levels might lie. d.

semajio · July 22, 2011, 6:01am

I tried googling Barry’s S/R but couldnt find it, can you let me know where i can get this indicator for mt4? Some people use minimum acceptable performance per trade a minimum level they’ll accept, and their profit target higher but lock in a stop at that point.

dobro · July 22, 2011, 8:48am

Go to “Price Action Hero” by mastergunner99 here on BP. Somewhere in pg 5-6-7, I’n not sure which, there is a link to Barry. I had asked Muthui where he got his S/R indicator but he could not share it. But another person linked in Barry’s. Hope that helps. d.

dobro · July 22, 2011, 8:51am

I am not going to follow this thread any longer as I am scalping a totally different strategy that I saw on FF. This strategy is a good if one follows the rules but I am a short TF trader at heart and so will be signing off here. Good luck to you all, happy trading, and follow the rules. d.

jjrjr · July 27, 2011, 1:48am

[QUOTE=johnnykanoo;259024]
…
I did forget to mention big e says if the tdi goes flat or curves around like a question mark you should enter.
…

Hi Johnny, just discovered your thread and you’re commentary is a great addition to those on the other site. Just to be clear: I believe in the quote above you meant to say, “… you should EXIT.” (not “enter”) Right??

eriksen · July 27, 2011, 10:16am

The TDI should come from a H pos before the x

ActivePip · July 27, 2011, 11:31am

ATR signals.zip (8.99 KB)

Hi all. I found this thread some time ago but couldn’t find the right time to read it fully. Today I did just that and I must say I’m glad. Been testing out some strategies for some
time now and for some reason, there was always something missing. Well, this one seems
to have all it takes.
I’ve just added it to my MT4 and will be testing it in the future.
Also, I took the liberty to customize it a bit. Through out my research, I found out many indicators and some of them worked really well for me. Two of them in particular, and although they look kinda too simple, for some reason they work for me more often than not. I found them in a strategy from a different thread on babypips forums. I’ve added them bellow so feel free to use them. I hope that’s ok with the admins.
The 2 indicators are based on ATR and most of the time give a buy/sell signal in the same time. Used with HA candlesticks and all the rest of the signals from this system, they give some pretty good signals so far. For me, at least.
I’ll back test it and trade with it in the near future and I’ll try to post some images later on.
Keep the green pips coming and talk to you soon.
PS: Thanx Jhonny for sharing this cool system.

hiccup · July 27, 2011, 11:52am

Dobro, what scalping system are u using? and is it working well for u?

roggyfx · July 27, 2011, 7:13pm

Here’s my trade review on EurUsd 1h timeframe … maybe will help to someone

1h chart: 1311807017-clip-46kb.png clip
4h chart: 1311806703-clip-42kb.png clip

Obviously was a short … :53:. So, since it was a counter trend trade I needed some more reasons to short despite the Big E signal. Here they are:
[ul]
[li]bearish divergence on stock and TDI RSI line - 1h chart
[/li][li]today price stooped at previous week high levels
[/li][li]pair overbought on 4h timeframe
[/li][li]price near daily falling trend line
[/li][li]only bad economic EU data for the day
[/li][/ul]

Enter short @1.4504 (green circles) and could it ride for 140 pips until London close. But, I didn’t because I’m not a perfect trader. Despite that I made my +4% increase on the account :60:

What I did and why:
Closed half of the position for 30 pips at blue 1h raising trend line and set ST to BE for the other half. Stopped out. Reentered on a 1h sustained break of the same blue trend line and closed all after bad US data.

What I could do better?:
Stick to 1h timeframe HA candles where there was no reason to close the trade until US session close.

For tomorrow:
Watch out the brown 4h raising trend line and some good Big E signal.

johnnykanoo · July 27, 2011, 9:30pm

To All

I am not going to follow this thread any longer as I am scalping a totally different strategy that I saw on FF. This strategy is a good if one follows the rules but I am a short TF trader at heart and so will be signing off here. Good luck to you all, happy trading, and follow the rules. d.

Read more: 301 Moved Permanently

Hey Dobro good luck with your scalping. Sorry to everyone for not being around more. I have found myself spread very thin and have been focused on my automated trading + being mod on another board. I’m glad to see this thread doing so well!

For those of you complicating things I think you should slow down and keep it simple. This method is a no brainer and can yield tons of green pips!

johnnykanoo · July 27, 2011, 9:30pm

Hi anddaley,

TDI is not pre-loaded into FXCM’s platform, but it can be added. FXCodeBase.com has the TDI indicator coded for the Marketscope charts inside the FX Trading Station II and I have attached it to this post in a zip file.

If you need help installing the indicator into Marketscope, take a look at this post MTF Moving Average for FXTSII. I included some steps on uploading indicators.

Read more: http://forums.babypips.com/free-forex-trading-systems/39076-big-e-trading-27.html#ixzz1TMLCgyqp

Thanks for the help

johnnykanoo · July 27, 2011, 9:31pm

Hi Johnny, just discovered your thread and you're commentary is a great addition to those on the other site. Just to be clear: I believe in the quote above you meant to say, "... you should EXIT." (not "enter") Right??