[QUOTE=“yohec;722631”] My charts are set to New York close. Maybe your charts have a different setting and that would explain the difference?[/QUOTE]
Probably and I see the cross now being close
The GBP/JPY short was at 185.41
Hello and welcome yohec!
To answer your questions YESS!! New york close means you have 5 daily candles and anyone who uses other closes, will have 6 ( because of sunday ) that will give you a different outcome on your MA’s! Overall trading would be the same but indicators will get a different results because of the difference in candlesticks. But should be fine still!
Everyone be careful, FED meeting this week between tomorrow and Wednesday, that will drive the USD crazy i’m sure, which will also effect the other currencies too because of how strong the USD is over them.
[QUOTE=“Snipes;722622”]Last week (month to date) +698 pips 11 wins, 3 lost (79%) Monday to Thursday, not trades on Friday was traveling. GbpNZd looks good for a sell. nothing else. have a great week all.[/QUOTE]
So took GbpChf +9 pips didn’t like the hugging of lines but was too tempted.
Week to date +9
Month to date +707
12wins and 3 lost. - 80%
[QUOTE=“yohec;722787”]Entered short GBP/JPY after 1 and 2 WMA cross below 4 WMA. Fib is around 0.382 retracement. <img src=“301 Moved Permanently”/>[/QUOTE]
Lot of pips coming ur way good one
[QUOTE=“jayboii478;722793”]Everyone be careful, FED meeting this week between tomorrow and Wednesday, that will drive the USD crazy i’m sure, which will also effect the other currencies too because of how strong the USD is over them. [/QUOTE]
Thanks Jay.
Morning all,
not much happening today it would seem. My charts not showing me any good setups at all. Maybe the chfjpy; could be a cross to the downside soon?
David
For the candlestick specialists out there, is that a pinbar on the eurchf daily chart? If so, it’s quiet prominent and would signal a move down. Maybe to the 1.09000 area.
David
Stopped out of GBP/JPY for -49 pips.
Hi all
I am short with EurChf @ 1.09575
Dont despair, it happens but the long run is far better.
My stats since last week is 12 wins with 3 losses. thats 80% positive.
These are the order of pips lost/gained.
-82
-72
at this stage i was -155 and this was for Monday alone… anyone would think to give up.
then this happened
+6
+138
+10
+74
+64
+190
+101
+98
+136
+32
+100
then -100
+9
So it happens…
Like Snipes says. Losses do happen, its forex what can ya do. But as long as you come out positive that is all that matters. Following the rules of this system, you’ll come out positive!
[QUOTE=“jayboii478;723000”]Like Snipes says. Losses do happen, its forex what can ya do. But as long as you come out positive that is all that matters. Following the rules of this system, you’ll come out positive![/QUOTE]
I’m not worried. Last week I had 2 trades: +120 pips and -10 pips.
I intend to try this method for at least several weeks. I’m trading small position sizes for now so I can get used to the method.
Still running plus
EurCad Sell 1.49225 (+41)
EurJpy Sell 135.699
GbpCad Sell 2.03213 (-5)
GbpJpy Sell 184.748 (+33)
GbpUsd Sell 1.53413
NzdChf Buy 0.691990
Using 100 S/L and then move to break even when up 30+. And trail differently for each. no set method.
Month to date +776
14 wins 4 losses (78%)
Hi Snipes,
Thank you for imparting this information. I know that this is a variation of another system and new techniques/indicators are being being tried to improve the strategy. Is it possible to give a recap of exactly what the system is using at this point in time.
Thank you!
[QUOTE=“Snipes;717827”] Hi Kelvin Welcome and thank you. Not sure if you have looked at all the posts. The base strategy had a single cross. We have added a few and also you will note some have personal preferences to suite their style which I think is better vs the traditional way of sticking to a set of rules. In a nutshell The 1 and 4 LWMA cross is the main signal. We have added 200 ema as a “trend” indicator Then there is a 2 and 8 LWMA indicator as well and there is variation of this. Where some look for a cross and others for it to be close. I use the 2 on the 1 and 4 to double cross. Each has their preference. Then support and resistance as well as Fib for your own confirmations as well as SL and TP. And of course some price action helps too. We now have Tedm who added 100 SMA and Bollinger Bands too. And then money management etc is up to you. Hope that helps? So there is no direct answer to your question, our main objective started with Jay and I to ensure we validate proper entry points… Which I believe we still discovering with the help of many others who have joined in. Would serve you good to go through all the detail as this is a journal vs a system.[/QUOTE]
Trilogy
Read the attached. I know the thread is long but there is some value trust me. Best is also to go to the original by Phantom…
[QUOTE=“trilogy;723248”]Hi Snipes, Thank you for imparting this information. I know that this is a variation of another system and new techniques/indicators are being being tried to improve the strategy. Is it possible to give a recap of exactly what the system is using at this point in time. Thank you![/QUOTE]
I use 1 and 2 LWMA to cross 4.
I also look at S&R if we close to Resistance for a buy signal i tend not to. And the opposite too