As I look through the pairs right now, all of them pretty much would be getting in late if you were to enter any of them now. Do you think you would have better chances say after Monday?
Sorry Rob - you’re right - see attached chart (I did not notice that - all I could see was that HUGE trend in front of my eyes)!!!
By the way - on EUR/RON - that was around 1200 PIP’s between 30/08/2007 and 24/09/2007. On this pair - that’s MAJOR!!!
Regards,
Dale.
Well, I think I will call it a night. 12:30AM here. I think I will be able to grasp this a bit better with a clearer, more awake head.
You really have something here, Dale. I can’t wait to read input from the other folks here. I’m sure there’ll be 15,000 posts when I wake up!
Have fun!
Hi Dale. Thanks for the info. Hehe fish living in Finland, the land of thousand lakes 
I haven’t yet listened Tarja’s new samples… Btw, about Tarja, i am currently working as IT-support(i’m typing this at work), in the same school Tarja was learning to sing about 10 years ago. Too bad i wasnt here when she was :rolleyes:
Its the Kuopion konservatorio part of the Sibelius Academy’s Kuopio departmentand Kuopio Music Centre in city Kuopio… lot of dancers, singers and music players. Nice stress free work enviroment, and getting to listen music is a free bonus
Sorry Rob - ‘overtyping’ each other.
What I’m doing is ‘scouring’ the 4 hour charts at the moment - will take positions if found - then will ‘scour’ the 1 hour charts - and will take positions if found (f**k I’ll even go as low as the thirty minute timeframe for entries). There HAS to be more than one pair our of forty four where the price has JUST closed above or below the 50 EMA on a timeframe!!!
On the other hand - if you JUST used this ‘new method’ on something like EUR/RON with HUGE lot sizes - you’d only need to trade ONE pair - and I think you’d make more with less ‘hassle’.
Actually - I just had another ‘brainwave’!!!
Let’s say you concentrated on ONE pair but ALL timeframes BUT you traded with ‘logical orders’ (that’s what they’re called at Delta). In other words - let’s say you got a valid entry point to go long on the daily timeframe - you take the position. Then - on the four hour - you get a valid entry signal to go short - you take the position also - then - on the one hour - you get a valid entry signal to go long - you take the position. Because you’re now trading with ‘logical orders’ your short position taken on the four hour in this case WOULD NOT close the long position that you had taken on the daily timeframe and so on and so forth. In other words - no matter what the pair did - you’d be scoring all the way!!! You’re effectively ‘hedging’ positions against each other doing it this way.
Hey, hey, hey??? What do you think???
Regards,
Dale.
Hey johto,
I’ve been doing IT Support most of my working life (after I finished with Accounting). Any jobs there for me??? I envy you.
Didn’t she leave something behind there that you could send me??? Memorabilia??? A used tissue???
(I crack myself up)!!!
I must tell you (sorry non-music lovers but if we JUST trade - we die inside):
I bought ‘Dark Passion Play’ over the weekend and - although I’ve ‘fought against’ liking it because of the Tarja / Tuomas ‘fiasco’ - I can’t anymore - it’s absolutely AWESOME (well - the band is - and - for the most part - Anette is alright too - but - Tarja would have ‘aced’ some of the songs)!!!
There are two songs on the album that - from Tuomas’ own mouth (I spend time researching this nonsense would you believe) - are about Tarja and what happened. The one is ‘Bye Bye Beautiful’ (about and for Tarja) and the other one is ‘Master Passion Greed’ (about and for Marcello). Man - the lyrics of those two songs give me ‘goose bumps’ (the lyrics are on the Nightwish website). Put it this way - Tuomas has GOT to do something to get her back. Feelings like that for another human being only come to a select few and then only once in time. Put it this way - if I can’t have her - then I’d rather it be him!!!
Regards,
Dale.
Sh1t!!!
Take a look at EUR/RON 4 hour!!!
Between 12/09/2007 and 26/09/2007 that’s nearly 1800 PIP’s!!! Man - I could start my OWN record label with that kind of money (you know - close certain Argentinian record labels down)!!!
Regards,
Dale.
Just another thought:
If you’re REALLY worried about the pair being range bound on a given timeframe and the ‘hovering’ around the 50 EMA is going to cost you money I would go so far as to say that you could wait for a candlestick or bar to open AND close above or below the 50 EMA before taking the trade - then - you already have a better than average chance that the trend has begun. Of course - you stand the chance of losing a few PIP’s at the beginning - but - what’s a couple of PIP’s between friends.
Regards,
Dale.
Hi Dale,
I don’t know about the new system (EMA 50), maybe it works maybe… Seems to be good on the ready charts, lets see how it goes after some testing, but one thing is for sure, the old rules work fine for me so far, since I started testing it, I have made around 15 trades and lost only one, is the one with CAD from this crazy news day last week. I think the system is very good and simple, discipline is the key, I guess…
Just my thought,
Thanx to all you guys and especially you Dale for starting this thread - this thread rocks, and it has become a part of my everyday live
Regards,
-t-
It’s only my pleasure.
I’m glad the ‘old’ system has worked for you - I really am.
Like I said - I DO actually have faith in Parabolic SAR - but - let’s just say - that the ‘focus’ of my faith has ‘shifted’ to it’s ability to ‘mechanically’ ‘lock in profit’ as opposed to me having faith in Parabolic SAR to indicate a trend - if that make sense.
Right now - I have have the following four positions open:
AUD/CAD - Daily - Long - Profit
USD/JPY - Daily - Long - Profit
USD/SEK - 1 Hour - Long - Profit
GBP/CHF - Daily - Long - Loss due to the spread (I missed this one last night somehow i.e. Friday’s candlestick or bar had already closed above the 50 EMA and I did not see it last night so I would ALREADY have been in a profit on this one as well right now)
And that’s as far as I’ve got i.e. going through each and every pair on the Daily, 4 Hour, and 1 Hour. If you’re going to trade each and every single available pair I don’t think you’d be able to go down to 30 minutes i.e. there just simply is not enough time to track each pair in 30 minutes.
Oh - I know - stating the obvious - BUT - you need to keep very good track of what positions you have open - on what pairs - and on what timeframe - so that you can ‘maintain’ your stops.
GBP/CHF has just turned to profit by the way - as I type.
Regards,
Dale.
Yes Dale,
I totally agree with you, one thing can’t harm another especially if it is effective enough and brings profit.
Well lets see how it goes with that new system, right now I don’t have enough time to test it well and frankly I don’t really want to mess up my newbie mind with something else since the old rules work well for me, I guess once I gain more experience in this business I will be able to combine some systems and have more fun, but at least for now I will keep it simple, just the old rules.
For now I have 3 open positions according to the old rules and they are all in profit:
EUR/USD
XAU/USD
USD/CHF
Thanx again,
Regards,
-t-
Another thought on stop losses (initial).
(Sorry - I’m just going to post as and when things come to mind as I ‘mosey’ around the charts - we’ll put it all together nicely again when were done - and this time WE WILL FINISH)!!!
Both Bill Williams and J. Welles Wilder Jnr. in their trading systems use the values from the previous two or three bars for stop losses.
What I’m saying is this:
(Regardless of timeframe)
Once the price has CLOSED above or below the 50 EMA and you’re in the trade - then - your initial stop loss is set to the low (if long) of the previous 3 to 5 candlesticks or bars (Bill Williams ‘favours’ this setup) or the low (if long) of the previous 2 candlesticks or bars (J. Welles Wilder Jnr. ‘favours’ this setup). Obviously - if short - you’re looking at the high of the previous candesticks or bars. These ‘setups’ you use UNTIL Parabolic SAR has locked in profits and then you abandon the ‘previous bar stop loss theories’ and ‘hand over’ to Parabolic SAR.
Thoughts!!!
Regards,
Dale.
Something else (wonderful):
This ‘play’ also lends itself well to a sort of ‘pyramiding’ system.
In other words - let’s say that you’re long on the daily for a pair - then - you get a signal (price has closed above the 50 EMA on the four hour) - you go long - then - you get yet another signal (price has closed above the 50 EMA on the one hour) - go go long.
Look what you have now!!! Three positions - same direction - same pair. It looks like this is about to happen on USD/SEK - I’ll follow it through.
Regards,
Dale.
There is a thread called 25-50 EMA by elang, i have been following it for a while and it works well, the entry is based on a candle closing above or below the 50 EMA. Stops are placed at 1x ATR or 2xATR or soemthing in between. my problem was i never knew when to take profit, i think with psar this problem is solved, as i will just put the stops on the psar
i think the 50 EMA and PSAR will make a very nice combo
Yet ANOTHER ‘play’ (for the ‘conservative’ members of our ‘club’):
Check the daily chart for the direction of the ‘trend’ i.e. if the price is currently above the 50 EMA on the daily - then - on the 4 hour - only take long trades in the same direction i.e. when the price closes above the 50 EMA on the 4 hour - or - only takes trades in the same direction on the 1 hour when IT’S in the same direction as both the 1 day and 4 hour. You cannot get ‘surer’ than that!!!
(Hello ‘shortie’ - just a message to a friend of mine who I’m trying ‘entice’ into the business - she’s supposed to be having a look at the thread about now).
Regards,
Dale.
OK - well - here it is - so far:
AUD/CAD - Long - Daily - Profit
USD/JPY - Long - Daily - Profit
USD/SEK - Long - 1 Hour - Profit
GBP/CHF - Long - Daily - Loss (spread)
USD/BGN - Long - 4 Hour - Loss (spread)
USD/DKK - Long - 4 Hour - Loss (spread)
USD/RUB - Long - 1 Hour - Loss (spread)
Of COURSE - I still have those other ‘waste of times open’ - you know - from before:
EUR/RON - Short - Daily - Loss (‘majestic’) - BUT - should close below 50 EMA today on 4 Hour so I’ll ‘double up’ the position
XAG/USD (Silver) - Short - Daily - Loss (not too bad) - BUT - has already closed below 50 EMA on 4 Hour - good sign I think
XAU/USD (Gold) - Short - Daily - Loss (also not too bad anymore) - BUT - is getting close to 50 EMA on 4 Hour
WTI1107 (Oil - West Texas Intermediate) - Short - Daily - Loss (getting smaller) - BUT - is also getting close to 50 EMA on 4 Hour
COIL1107 (Oil - Brent Crude) - Daily - Loss (also not too bad anymore) - BUT - is also getting close to 50 EMA 4 Hour
So far - so good (I’m a little bit ‘USD heavy’ at the moment - not too happy about that but - let’s see where this all goes shall we).
Regards,
Dale.
Hey pipul,
I wanted to get your advices and opinions about trading platforms.
What do you think would be the best trading platform to open live account???
I am using few for Demo accounts and so far MT4 is the best and the most accurate to our system, but unfortunately I think it is not possible to have live account with MT4.?
Since I am also situated in Finland as Johto, I wanted to ask you Johto which platform do you use with your live account? If it is not a secret of cores
All you opinions and advices are highly appreciated,
Thanx a lot,
Regards,
-t-
I’m absent for 2 days and there’s so much new stuff.:eek: I’m scared to think what would happen if I’m away from this thread for 1 week.
Hello ‘Just Joan’ - nice ‘early’ start again I see!!!
And - yes - staying away that long would not be a good thing - for sure!!!
timbaboy:
For what my opinions worth - of all the platforms - yes - of ALL the platforms - MT4 really is the ‘nicest’ and most ‘polished’ - no question about it - the problem is finding a ‘decent’ broker that you can use it with. There’s no point in having the ‘nicest’ software and trading with a broker that ‘rapes’ you at every opportunity!!!
Anyway - looks like I going to get my ‘well deserved reprieve’ with Gold and Oil!!!
I suppose I just ‘jinxed it’ now - watch Gold go to $1K and ounce today!!!
Regards,
Dale.