Looks like USDCHF is nearing a buy. today’s Williams OA indicator is at a buy, so far. Could have a buy on PSAR on monday.
Had a great trade today. Sold a stock short (GRMN) and bought it back when PSAR told me to do so. the stock had a huge spike overnight. i made about $1000 off the trade but only risked about $200 with my stop.
Dale,
Great news to hear that you are doing ok and will be returning. Will look fwd to it once you get your stuff together.
natejax,
Thanks for positing that chart. I will give it some study and seems like you had a good trade the other day. Well done.
Best Rgds
I am still just playing and started trying Oando.
Bought Silver and Gold using SAR and they seem to be the biggest winners for me so far.
I have been back testing SAR Only and it always seems to win 80% more than losses in pips.
It seems so easy.
I tried putting other indicators with it but it doesn’t do as good as SAR Only.
Just been back testing on Daily with 30 different pairs going back one year since that is all Oanda goes back to.
I am just not sure about , draw down, swap, interest rate, margin, spread… and so many other thing I need to look for.
I will get this all figured out.
It just takes time, like everything else, trial and error and just play money for now.
So I can only win knowledge.
Have you guys spotted anything that looks promising for next week? Does OANDA allow you to make stop to open orders (buy at a higher price or sell at a lower price)… I am currently stuck with FXCM. feel like i picked the wrong broker :(.
so i am pretty new to all this
wish I could help.
Nate, i
If I understand your question correctly, you can do this on Oanda. I demoed on FXCM for a couple of months and I’m sure you can do it there as well. Have you tried their live help chat? I found both Oanda and FXCM very helpful in this regards.
Rgds
yes both stop and limit orders are available on Oanda
Thanks. FXCM does have stop and limit orders but they are called “entry orders” and you just put in a higher or lower price and it is automatically assigned as stop or limit based on whether it is higher or lower… still seems like spreads are pretty high and they don’t have as extensive a list of currency pairs as OANDA.
Here is the latest on my positions.
Monday morning here in the Asian timezone and I am yet to open any trades today. Lets see if there anything after the new candle forms at midday. Current profit since system start is at 22.2%.
[U]Open Positions[/U]
GBP/CHF Short
EUR/GBP Long
EUR/AUD Long
2 of the above are in nice proft. EUR/AUD is at a slight loss just now.
[U]Closed Positions[/U]
GBP/USD. Closed manually for a loss after Fed rate cut. -50 pips
USD/CAD Short. Stop Loss on reduced time frame for +350 pips
XAG/USD Long. Stop Loss on reduced time frame for +5000 pips
AUD/JPY Long. Stop Loss on reduced time frame for +180 pips
AUD/NZD Short. Stop Loss on reduced time frame for +100 pips
NZD/USD Long. Stop Loss on reduced time frame for +190 pips
XAG/USD Long. Stop Loss on daily PSAR. -5000 pips
NZD/USD Long. Stop Loss on reduced time frame for +50 pips
GBP/USD Long. Stop Loss on reduced time frame for +100
AUD/JPY Long Stop Loss on reduced timeframe for +650
EUR/AUD Short stop loss on reduced timeframe for +600 pips
EUR/JPY Long Stop loss on reduced timeframe for +700 pips
EUR/CHF Long Stopl loss on reduced timeframe for +150 pips
EUR/GBP Short Stop Loss for +50 pips
GBP/CHF Long Stop loss on reduced timeframe for +50 pips
EUR/USD Short Stop loss on PSAR for -100 pips
GBP/CHF Long. Stop Loss for -75 pips
AUD/USD Short. Stop Loss for -120 pips
EUR/AUD Long. Stop Loss for -270 pips
AUD/JPY Short. Stop Loss for -70 pips
NZD/USD Short. Stop Loss for -160 pips
EUR/CHF Short. Stop Loss for -40 pips
CAD/JPY Short. Stop Loss for -20 pips
EUR/SEK Long. Stop loss on reduced timefarme for +950 pips
USD/CNY Short. Stop Loss on reduced timeframe for +350 pips
CAD/JPY Long. Stop Loss for +90 pips
AUD/JPY Long. Stop Loss for -190 pips
EUR/AUD short. Stop Loss for -210 pips
EUR/USD Long. Stop loss on reduced time frame for +220 pips
NZD/USD Long Stop loss for +55 pips
AUD/USD Long. Stop loss for +60 pips
EUR/JPY Long. Stop loss for -220 pips
GBP/JPY Long. Stop Loss for -360 Pips
CHF/JPY Long. stop loss for -125 pips
USD/CHF Short. Stop loss for +260 pips
EUR/CHF Short. Stop loss for +200 pips
USD/NOK Short. Stop loss for -1000 pips
Regards
Scott
Well, I made some poor trades today in the US Stock market. i am barely in the black now and decided to empty my brokerage account and just stick to forex and following a system. for some reason, i have a hard time being systematic with stocks. also, it is in the middle of the work day for me and takes me away from my job. hoping forex will be a clean slate for me to start with. funds have not yet cleared . supposedly it will be after 6PM New York time tonight… no new trades open anyway.
funds cleared. i now have a clean slate to work with.
And is regular stop loss ones that were stopped and closed automaticlly.
What it means is, The stop loss position has been switched to a SAR dot on the reduced timeframe. Trades are taken on the daily with stop loss position set according to PSAR dot. On Oanda, the reduced timeframe is the 3H one, the next one down form the daily. This is done once decent profits have already been achieved and I try to lock in most of them.
Rgds
looks like it is shaping up to be a buy with PSAR, no?
Personally, I’m not sure where EUR/USD is going and it’s a bit risky for my money. Danske Bank analysis shows a 3M-6M rise to 1.50, followed by a fall to 1.38, or possibly hitting 1.60. I think this pair is driven more by fundamentals than TA right now and no one is sure what the US market is going to do. No one likes having a weak Dollar and I think there will be pressure to prop it up, but this might not happen until after it breaks 1.50.
So if you figure a possible 200 pip increase over the next 6-8 weeks and a 1% capital risk, where will you place your stoploss? What profit can you anticipate? If significant economic news indicates a run to 1.60, does 1200 pips sound better?
stop would be the psar point. i am sticking to technical trading now… except for obvious stuff that comes along here and there . i traded stocks mostly off fundamentals and found that it only worked under certain market conditions.
i did go long on EURUSD. up 45 pips now.
Very interesting thread. I always gave a lot of credence to the P-SAR dots, so this sounds enticing. BTW, dpaterso, can you tell me the values of the P-SAR which you have on your charts. I have been using 0.02 and .2
i am pretty sure i saw the parameters in a chart that he had displayed really early in the thread and they are the same as what you have.