Yeh… After you went back and added it…
Now who’s the crazy one…
Hello Sweet pip,
Thanks for the strength table.
How do I use it? sorry a bit of slow learner here. I tried to load it onto the indicators on MT4 but it does not show there.
DD
After you unzip and put the .ex4 into your indicators folders, you may have to exit and restart Mt4 for it to show up in your custom indicators list.
Is there any favorite music that would you like to add on your journal to make it more fun? lol…
Something that will keep you going…
11:00 pm (PST) - Late Asian session
Long EURGBP (5 min chart)
Strength Chart=7 & 1
Direction of pair - UP, market flow flat
Cycle of oscillators - leaving oversold
VSA background (loosely) - ?
S&R areas -
News timing - High impact news coming out in 3ish hrs
Spread - low
Other - low of session? another break up after consolidation?
This is an example of what not to trade. The SMAs were flat. High impact news coming out soon causing eratic movement. Since the pip value on this pair is more like $2/pip, a 50 pip emergency stop would be doubly painful.
Tried twice…first time closed at BE. 2nd attempt EA Closed half lot at 10 pips and moved stop to BE, but then stopped out… calling it +5
(Beach Boys)…[I]She’ll have fun fun fun til the mods take her fan boy (banker928) away[/I]…how’s that!
lol, good one…
Oh, fun in the beach right now is sounds good specially this season!
Glad to see you are on top on your Journal and making pips here and there…
Go get them girl!
Missed a lot of sweet trades lately now that the currents have resumed on the strong/weak pairs. I’m editor of our boating group’s newsletter (yes Banker I’m a bridge officer…of the year in Western Canada even! LOL) and been focusing on it so kinda missed when they left the back eddy. However, caught a quickie this morning:
8:00 am (PST) - Early US session
Long NZDJPY (5 min chart)
Strength Chart=6 & 0
Direction of pair - UP
Cycle of oscillators - leaving oversold
VSA background (loosely) - higher volume on support than last time
S&R areas - bottom of recent range…retest resistance (red line)?
News timing - no news in 7+ hrs
Spread - low
Other -lots of daily & weekly range left to fill compared to average…higher resistance possible next target
Closed +10
12:00 am (PST) - Early London session
Long NZDJPY (5 min chart)
Strength Chart=7 & 1
Direction of pair - UP,
Cycle of oscillators - 5 leaving oversold/12 under overbought
VSA background (loosely) - lower volume than past resistance retest…no selling pressure evident yet
S&R areas - Should reach upper lime resistance line
News timing - no news for at least 8 hrs
Spread - med-low
Other - all timeframes flow indicators green…go with the flow.
Lots left on the table…closed +8 to round up account balance to $1120.
Done trading for the week.
This weeks trade results:
Trades: 7
Wins: 7
Losses: 0
Pips: +58
Gain: +5.5%
Y-T-D
Trades: 29
Wins: 26
Losses: 3
Win Rate: 90%
Pip gain: +237
Avg win: 10
Avg loss: 5
Actual R:R: 2:1?
Gain: +27%
This is very thorough sweety pip ;]
Is this a type of bollinger bands?
I dont understand why you took out your E/G position out so early at 10 pips. Market price suggests higher prices in the long run…
Hi Elephant
That’s the Donchian Channel…saw it used in the 10/20 strategy here in BPs and decided to try it out.
As for exiting early when market suggests higher prices, that’s part of the strategy. If prices do do what the market suggests, then there will be another opportunity to get in again. I’m not a long run trader…lol…that never worked out for me. I get in, grab some pips and get out. So far it’s working
Edit…I should clarify that the position wasn’t closed out completely at 10 pips…just half, and the stop moved to BE…then it’s a free trade in hopes that it might take off. It’s a trade management EA idea that I am testing but since I put a t/p too, it kinda defeats it’s purpose. But you can see that it closed half the trade at a peak after a bit of whipsaw due to the news …so I was grateful for what profit I got and then didn’t have to sit through all that turmoil a 2nd time.
I used Donchian Channels for my online gaming
Never seen anyone apply real world use for it.
What game is that?
5:00 pm (PST) - Early Asian session
Long CADJPY (5 min chart)
Strength Chart=2 & 0
Direction of pair - up, but mixed overall
Cycle of oscillators - leaving oversold
VSA background (loosely) - ?
S&R areas - Reach up to retest yellow line?
News timing - nothing tonight
Spread - low
Other -
Strength table:
This is another example of what not to trade. Strengths were too equal & low. Flow was not strong enough to continue upward
Missed target of 15 pips by 2 pips. Took full loss of -50
Strength table the same as before. Will only be looking at:
Longs: EURJPY, USDJPY, EURGPB
Shorts: GBPUSD
Hey Sweet pip,
Using this Dochian Channels, I have notice that most of your currency pairs are crosses there are a few are major pairs (GBP/USD and USD/JPY). Have you ever try this with other major pairs such as EUR/USD , AUD/USD, NZD/USD, USD/CAD? If so, what are your experience with it… just out of curiosity that’s all. Thanks!
Hi PNR,
The pair selection is dictated by the strength table so when the currencies in any of those pairs you are asking about show a high strong/weak relationship, then I will looking for trades on them. Right now they are more or less equivalent which is why I’m not trading them.
The donchian channels are only there to help visualize the peaks & valleys (entering on pullbacks) of the trends that hopefully will manifest due to this strong/weak relationship.
Hope that satisfies your curiosity
I see…these is the first time I’ve seen this type of trading method so I was just curious what it was.
I am satisfied. Thank you
[B]PS:[/B] Oh and Congrats on being a bridge officer of the year in Western Canada! Way to go!!
Hi Sweet Pip,
Congratulations on the start of 2013! :35: By the looks of your stats, your starting out very admirably. While I just completed my first year in Forex, I think I’m right around par considering I blew 2 accounts. Tuition in education is so expensive, but I have to say my results now are starting to improve.
I was taking a peek at some journals to check out the structures for ideas 'cause I would like to start one of my own to improve my trading. I guess to have some accountability for the trades I take, improve my decision making, as well as open up for possible constructive criticism. I also like your simple check list as well as the chart examples to go along with your planning/thinking. I will be following along. I do have one question. I downloaded your strentch_table and was wondering what time frame it is based on and how often it refreshes. Thank you and good luck with the rest of the year. May the pips be with us all!