Haha, what were you doing outside the rules?
My problem is sometimes coming in late, a couple candles from the signal, thinking I should still get in. Lots of times I missed the big portion of the move, and I get burned too!
2 Likes
Choppy market today, stopped out twice.
Sorry to hear that. When there is high impact financial news it’s important to know when it’s going to hit. I went rogue again while driving just now and at least pocketed five more pips on the big news candle.
I think that was the last big impact news of the day though.
1 Like
Big green candles! Big moves!
Big big scary moves. Got to be quick!
10 pips locked.
1 Like
Are you thinking a pullback at 1.06?
@samewise I’m still out driving around all day. We do know that often after the news price does tend to return toward where it was before the big upward spike. Well let’s follow the rules and wait for signals. Also, I think without the news the price trend would have been downward today, don’t you?
Good advice. Follow the signals.
Yea. I mean the Daily was showing down. Weekly candle is red too and engulfing the week before.
Take those pips now. Close on a good trade and have a happy friday.
1 Like
looks like it is going to 1.06
1 Like
I sense some stop losses out there at 1.0611ish
Friday recap:
First signal - mixed results. Could have generated up to 20 pips, but could also just been break even.
Second signal - 70 pip move generated by high impact USD inflation news.
EMA and PSAR signal generated at bottom of upward move.
Price spike just BEFORE second signal could have caused SLs to get hit for up to 20 pip loss if signal caused anyone to jump the gun or had pending Buy order in place.
Following strategy should have provided a minimum of 50 pip for the day. Traders could have made up to just over 100 pips if did not get stopped out.
Good Moring guys,
Just a question or proposal.
Would you consider using a Stochastics/ RSI indi to confirm entry moves? Or do some of you already use it?
I have added a Stochastics RSI to TV and it really helped with pointing out the bigger move trades.
(I don`t think MT4 will have the Stoch RSI but the normal RSI works just as well if I remember correctly.)
The reasoning behind it is that when a divergence is created on the Stoch RSI and you get a signal from AT`s strategy (I use the coded indi), the moves seem to be bigger and more accurate. It kind of filters out the false moves, but you get less entries if only following the Stoch RSI method.
I have only backtested though, started last night- about 2 hours before market close.
Settings for the Stoch RSI is left as default: (For TV only, not sure about MT)
K: 3
D: 3
RSI length: 14
Stoch length: 14
RSI Source: Close
1 Like
Nothing wrong with adding quality suggestions!
I notice also that PSAR settings I have on my open chart *of 0.078 / 0.7, if used as SL would have prevented any loss.
Same with original PSAR settings of 0.06 / 0.07.
However, @theRedHarry suggestion prevents taking the risk of having that deeper SL.
**I am really enjoying seeing your contributions. @theRedHarry. I know I post too often, and I’m working on it. but a large part of my days lately has been fun just getting to know people on the forum and knowing we are all working together toward maximum success.
2 Likes
Quality enhancement suggestions from forum members:
Good Moring guys,
Just a question or proposal.
Would you consider using a Stochastics/ RSI indi to confirm entry moves? Or do some of you already use it?
I have added a Stochastics RSI to TV and it really helped with pointing out the bigger move trades.
(I don`t think MT4 will have the Stoch RSI but the normal RSI works just as well if I remember correctly.)
The reasoning behind it is that when a divergence is created on the Stoch RSI and you get a signal from AT`s strategy (I use the coded indi), the moves seem to be bigger and more accurate. It kind of filters out the false moves, but you get less entries if only following the Stoch RSI method.
I have only backtested though, started last night- about 2 hours before market close.
Settings for the Stoch RSI is left as default: (For TV only, not sure about MT)
K: 3
D: 3
RSI length: 14
Stoch length: 14
RSI Source: Close
Final Saturday post:
I’d like to be able to add a section people can access to see suggested enhancements, as there have been a few now and we should not be overlooking the combined experience of these generous traders within our little community.
If anyone knows how that can be done, please advise.
Thanks my friends. Happy weekend!
1 Like