It’s possible that had I been trading just GJ, I would have had profit, but I was mechanically trading all four pairs, to the letter, posting every entry here, so I could get feedback if it appeared wrong, no trading according to news, and I did get some TP hit on GJ, but the other pairs hit SL on every single signal after Monday, and almost every candle was a signal. I’m not saying the system doesn’t work, I’m just saying for all $4 trillion daily worth of market participants, what worked for them and us on a normal week, ate them alive this last week. Last week wasn’t an excuse for bad trading, it was as rare as winning the lotto (google it if you don’t know), with very, very big market events happening on a very big scale. It was as significant as when Soros shorted the pound into nothing in the early 90’s. This next week WILL be the same. Maybe the week after, if market certainty comes back, and thing are relatively normal, this system, mechanically traded, will be grossing 1000 pips a week again.
@jonkie thanks a lot for your input you never cease to inspire! Like you say with a spread of 3 (my broker is averaging 4 on gj ) you would have roughly broke even, others may not agree with me but I think this is brilliant considering the current market, I wonder how many technical traders can say that this week (or even compare to recent weeks results). I think the more emotional trader can’t handle a slow week and expect big returns week in week out, so when a situation like this presents itself they panic and abandon ship, only to lose out on future gains, but I suppose it’s all about being comfortable in the way you trade.
What do we think about conditions like this, it seems that a lot of traders are taking a back seat at the moment so is it better to trade demo until things get better or just battle through? I guess there’s no right or wrong answer really, it’s just down to the individual?
Oh I forgot to metion congrats on your results jonkie that is very very impressive, there are certain members on babypips who laugh at new guys asking about returns etc only to say dont even expect a 5% monthly return but I guess this shows it can be done!
Week is about to start on forex! Hopee this to be a great one for this strategy to all of us, specially the ones that are trading live.
trading GMT+3…
just had two SELL pin bars, EJ & GJ… let’s see how this week goes!
I don’t trade until 0:00 Est monday. Three more hours to wait for me.
I bougth audusd because a bull IC.
My two sells have just hit half profit. No further trades have been taken yet.
@jonkie on which broker you trade?
Iam a bit confused cause i receive metatrader data from fxpro demo and trade on rbs marketindex. But now i saw that tradesignalonline.de generates different 4h candles due to other close times.
Now i dont know on which data i should rely on
my two sells have now hit full profit. bagged 95pip and a 12% balance increase
The only signal I’ve had so far is a AU sell IC, which has made it almost to 1/2 TP so far. There was a bullish IC, too, but didn’t pass the filter.
Edit: It reached half T/P according to ATR.
@Smacko: Did you said you are from NZ? Me too Auckland. I have been reading this thread for the last few days and I am only on tp page 54. 80pages to go but jump over this last page to find out how’s your trading. If possible to meet and learn from your experience. Thanks
@lodestarnz: i’m in aus…
looking back at the charts, i missed a sell pin bar for AJ, which hit full profit of 80pips had i taken it…
hello smacko,cud u pls show which pin bars u took on ej n gj, caused do not hav a such on mi chart for today
thanks
placed inside bear trades on aj, ej and gj at 16:00 EST bar
What’s everyone’s opinions on if we have ib orders still not triggered on a Friday, leave on or take off? Personally as all open positions are closed I would close all pending orders also, end of the working week I guess! Just interested to see what you guys think. Also does anybody know what happens if you have a pending order, for example, to short @ 125.000, market closes friday at 125.250 you leave the order on over the weekend and at the market open price gaps down to say, 124.750, would your order have been filled at the price you requested and you are 25 pips in profit at open? Thanks guys
I personally wouldn’t leave them open over the weekend. Since stop losses don’t appear to work over the weekend, I would assume that your stop orders wouldn’t either and that they would be filled at whatever price the market open is if it’s past the stop order. Just guessing, though.
That depends if your broker honour your stops. That is unlikely, so the most common behavior is your order will be filled that best price available a t the open after weekend, just like an stop loss.
I follow the rule of Sith Jawa, and place an expiration on my stop orders of 3 days. And also close all my trades, open or pendant, on Friday.
I thought this might be the case, thanks for responses
I was thinking, while looking at the charts. Can we trade with signals confirming in at least 2 charts?
For example. Right now, I have a possible future inside bar BEAR on AJ, EJ and GJ, but a future inside bar BULL on AU. That are contradictory signals, but I have 3 confirming for a bear trade, and one for a bull trade, so if I should compare them, I would prefer to ignore the bull signal and trade only the bear signals…
Do you think that makes sense?