hi all,
ok, i thought i was going to bed. however, after checking e-mails etc. i decided to wait until 3:00 am to go back to sleep. well, wouldn’t you know another signal came up and i got another TP trade. i am going to bed for sure, now!
the trade:
2:50 entered order short, 1.2955
2:52 short, 1.2955
2:52 exit, 1.2942-1, TP, +12.9 +25.8
january total, +169.9
good night all,
goji, bernie
Hi again,
Just like to get a few things straight so tonight I can start to practice with the FxGame correct me if I am wrong here;
Can you tell me how to set my preferences for auto the SL and TP?
You also mentioned that these values will depend on the spreads, is it possible to save different profiles that have different SL/TP for the different spreads?
Some questions about Oando…
What is the position on security with these brokers who they regulated by?
Do you think when using this type of system with more $$$ being risked i.e. full lots of 2 or 3 there maybe more likley to hunt your SL?
l
Good morning Bernie, good morning everyone,
Congratulations on successful morning trades, Bernie! I am still trying to understand what you do so you don’t pick up losers (almost).
I started at 2:30am, 6 trades:
a loser -14.7 ??? when I placed the order, I set SL at 10 plus 1.4 the spread. It should have been 11.4, why the platform set it at 14.7 - I don’t know;
a loser -11.4;
four winners from +1 to 12.5.
Total for the morning is minus 9.1.
Will be back after 9am
hi all,
i have decided to quit for the morning. i may take a nap since i was up apart of the night. first some answers to previously asked question.
philbot: please go back and review posts; 270, 307, 309, 319, and especially 322. i think these will help as it appears you have developed a pretty good idea of what is going on. oanda’s reputation is supposed to be pretty good but that is based on critiques i have read. i have had few problems with them. about the “stop” hunting, every once in awhile it feels that way, but i do not think that is really the case. i believe it is just happen stance. let me know if this helps.
chasing pips; i trade 2-3:00 am rarely. i will admit that this morning i even amazed myself. almost as soon as i got on, the 2:00 am trade set up. it was not my intention to trade again. i did some other things answered and read several e-mails etc. and decided to check e/u just before logging out and low and behold, there was the second trade set up. it was over quickly and i logged out with two nice TPs.
this morning’s trades:
8:35 entered order long, 1.2945
8:41 order executed, long, 1.2945
8:42 exit, 1.2947, +2, had been to 1.2951-4
9:00 entered order short, 1.2925
9:02 order executed, 1.2925
9:02 exit, 1.2912-1, +12.9, hit TP, +14.9
9:40 entered order short, 1.2915
9:40 order executed, 1.2915
9:41 exit, 1.2913, had been to 1.2909, +2, +16.9
january total, +186.8
i will be back at 3:00 pm today.
goji, bernie
ps, to kenneth lee, i have toyed with the idea of some sort of re-entry for some time. yet, every time i do, i keep coming back to, it appears the long candles really do come around only once in awhile. as such what might i have to give back? the only thing that i would suggest is that you also move the TP line. when i offer that suggestion, i think of all of the trades that tend to close within a minute or two of entry. thus, for me, i would rather focus on the S/L.
i had a trade something like that last month. this one worked out to my benefit so i didn’t investigate. right now, i don’t remember the particulars, but even a reader commented on the trade. all i remember is that something strange did happen!
hey fellow goji users,
i had my first losing trade in a while today. what can you do? luckily i made another trade that made me end +2 pips for theday.
8.15(pst) long eur/usd 1.2935
8.26(pst) hit s/l, -10pips
^-- this trade i actually fumbled a little bit with the timing. i am still trying to get a hang of MT4
10.41(pst) sell eur/usd 1.2910
10.46(pst) close order, +12pips
+2 for the day. I would try and trade for a little while longer, but I have to go to class.
+52 pips for 5 days trading. i think thats pretty good!
see you all in a bit
hi db, et all,
ah, but you went to school a winner! there is simply no system that will ever produce 100% winners. thus, even a 2 pip win allows you to retain the attitude of a winner. i think this is very important. it is why i am always reluctant to make any changes to this system. if i would have 10 BEs in a row, i might feel a little frustrated, BUT I WOULD HAVE LOST NOTHING! patience and discipline are very important if you truly want to be successful.
later,
goji, bernie
Hello Bernie, hello everyone,
I’m finished for the day; got another SL loser and some small winners. +5.9 since morning, which makes it - 3.2 for the whole day. The worst day so far:).
Regarding the “stop hunting” question, well, who knows? Who can give a trustworthy answer except for “I don’t know” answer? When you lose on a trade you think of different BS, including stop hunting. Well, I don’t know. May be. Sometimes.
Best of luck to everyone!
hi chasing et al,
the key is, it was a small loss. one TP more than wipes that out. it seems to me that the people who get in real trouble trading allow the small losses to turn into large losses. if you are trading this system properly, you should never have a large individual trade loss. this is also why i am reluctant to start fiddling with a re-entry. again, this is my philosophy. it is what works for me. you are always free to experiment, especially if you are on a demo account.
the afternoon’s trade:
3:00 enter order short, 1.2885
3:03 order executed
3:04 exit, 1.2882, had been to 1.2878-4 and i chose to take the +3
january total, +189.8
see you in the morning,
goji, bernie
Hello Bernie,
The only thing I believe I do in a different way is that I never move the SL within negative, and I do not move it to BE (I did just once - accidentally), but I move it to +1 as soon as I can. So this is pretty much everything in regard to experimenting. And by the way, I do not trade demo, I trade a real account, so I don’t feel like experimenting much:)
Yes, -3.2 is quite good for “the worst day”:), thanks to your input and efforts!
And, of course, I forgot to mention, the system works at anytime, as long as the spread is OK, 2am - 7am is even more comfortable than 8-11am; there is hardly ever any news at 2am EST and the platform never slows down/freezes up/loses connection.
Just a couple of thoughts.
The issue of stop hunting, sweeps, whatever you wish to call it has always been a part of trading. When you consider the universe of trading that takes place in all the different time frames it is reasonable to conclude that a percentage of your trades will be stopped out. However, I really don’t believe stop hunting is a major issue with the time of day and the 5 minute time frame for the “goji trade setup” The �goji trade� needs volume and movement and that is what you will get during the first 90 minutes of the European and the US market open.
Now one thing I do pay attention to is slippage. I have been trading long enough to know that slippage is also a fact of life that a trader deals with. If I see excessive and or consistent slippage I take notice. This will cost you over time.
Here are two things I do:
I track my trades in excel so I can drill down to see what is happening and know where I stand.
I always have another chart and data feed running. Since I trade futures using TradeStation I can see what is happening with my pair and compare it to Oanda. To date I can say that I am pleased with the correlation between the two.
These are just one man�s opinions
Hello Bernie, hello everyone,
I started at midnight today (tonight?:)); got two trades:
Total for the day +27.3; I’m taking this as a compensation for yesterday, when I killed enormous number of hours, 12 hours, I guess, for -3.2:)
And I’m retiring until tomorrow.
Best of luck to everyone.
Got my world times sorted out now, I found a good site I wanted to share with everybody it shows all the world market no. hrs before they open etc. and even the days when the will not be trading.
Market Clocks
hope someone else finds it usefull too.
Have a question, are we actually looking for a symetrical sinosodal wave forming (we wish) but to ensure we dont trade during the news.
Where is best site for list of news and preferably one that doesnt list everything but jsut the news that effects the market does anybody have a good link?
Thanks
Bernie will probably fine tune my explanation of the trade setup but what I described is how I trade it. Remember, the goal to the “gogi trade” is winning.
hi chasing, ez, philbot et al,
ez, i thought your explanation was excellent. thus, no need for fine tuning.
chasing, no need to over trade when you are profitable, and i’m sure you feel pretty good also. you may have that little extra bounce in your step.
philbot, pay close attention to this post today. it is going to have some very interesting comments and explanations.
i quit early today. i quit because i did not like the action of the e/u. since trades in this system come up often, there is no need to force the action. between 8:00 am and 9:10 am there were three times when i placed orders that were subsequently not filled, thus canceled. this is ok, though because it keeps you out of losing trades. it is also ok, because it is giving you the tendency of the market on a particular day. thus, today was providing little follow through on you trades. there are no real rules for this, it is something that can be developed by trading, i think!
anyway, i have seveal more comments that i will make as i provide the morning’s trades:
8:00 - 9:10 three orders offered, no trades filled
9:10 entered order long, 1.2925
please note the entry price. e/u closed at 1.2920-1, and by rule you must trade off of the 1.2925. i know there is a tendency to want to jump in early. had you done so on this trade and had you been moving your S/L, you may have stopped your self out and missed out on a TP trade.
9:11 long, 1.2925
9:15 moved S/L to 1.2930
9:16 exit, 1.2937-9, hit TP, +12.9
i actually gave a lot of consideration to quitting after this trade. as you will see, i did not. as such, we have a learning experience that may prove beneficial to all.
9:40 entered order short, 1.2925
9:46 short, 1.2925
9:48 exit, hit S/L of 1.2935, -10, +2.9
i entered one more trade at this point. i did not get filled, though i have to believe that some of you may have. on oanda, if attempting to place a trade at 1.2945, you may not get 1.2945-0, you may have to settle for 1.2944-9, or 1.2945-1. most of the time the pippettes do not really enter significantly into our trades. today, they were significant on two, the first trade actually entered and this one. when i submitted my entrance order, it went in at 1.2945-1. i had actually move the indicator around searching for the 1.2945-0. when it did not come up, with out any conscious thought, i settled on the 1.2945-1. unfortunately, if you settled on the 1.2944-9, the end result would have been a S/L trade. there are no rules to prevent this and there are no suggestions to get around it. today, if you believe in luck, i was lucky. i truly hope the rest of you were also.
i will be back at 3:00 pm, and maybe things will have settled down a bit, by then.
goji, bernie
ps, as i went to submit this, i got booted off. i will copy to preserve it, so i can send it when back on line. this has been a very strange morning!
Hello Bernie,
Would you please explain the following. When your initial SL gets hit, you write you get -10. When we set a SL with Oanda, let’s say, -10, the spread, whatever it is, automatically adds. So I get, for example, -10-1.4=-11.4.
So, do you adjust the SL so you have -10 in total? Or do you just ignore the spread in regards to the SL?
Thank you.
hey bernie, ive had a couple heart break trades lately. making me want to rethink my stop loss techniques. i know ive asked you before about what you do to your stop loss, but i am still not sure. what would you say to something like after going +5pips you move s/l to -5. +7 you move s/l to break even. i only worry about this because i have had numerous trades where ive rallied up to +10, rallied down to -6 and then rallied back up to the take profit. this is why up until now, i have not moved the stop/loss. but, after having three -10s in a row, starting to make me think it isnt that bad of an idea.
any suggestions?
hi Benie, chasing, ez, et al,
Thank you again for all your assitance here I am getting a much better understanding of it.
Once I do, I will do some screen prints its pretty eash to do and I will post them it may help other people as I must admit its hard to understand at first and very difficult to explain in words I guess.
I will use the demo until I am regularly doing well or at least up to chasing’s standard, yes I read the posts you are doing much better than early but I see your frustration as Bernie always seems to do that little bit better and your spending hours trying to find out why I am sure 
Was you a maths teacher by any chance Bernie?
ok I am not sure when I activate the limit order? see below my candle for a long!!
Previous 5 min candle high is 1.2341 so set limit order SL at 1.2345 so TP is 1.2345 +12.5?
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|
x
x x ------ current price is here showing momentum so when do I execute the order?
x x
x x
x x
x x
x |
x
Could be a better way of showing your trades lol…
hi philbot,
if your 1.2341 price has crossed and closed above the 10 ema then:
i would enter an order to go long at 1.2345.
are you on oanda or some platform where your can pre-set your your Stop/Loss and Take Profit targets. i have mine already preset at TP = 12.9, i just changed it, and S/L at 10.
thus, if i get filled, those parameters are all ready entered and i start moving the S/L as soon as possible. the following is hypothetical; at 0.00 i may move S/L to -5, (the absolute is at +4, i move S/L to Break Even.) if price continues in my favor i continue to slide the S/L to lock in more profit. there is an attempt to maintain a trailing stop of about 4, but that is hard to do if things are moving quickly.
DBLYSON, THIS ANSWERS YOUR QUESTION, ALSO, I THINK. PLEASE FEEL FREE TO EXPERIMENT AND FIND WHAT WORKS BEST FOR YOU.
i retired from teaching certified to teach health and physical education from K-12, and grades 1thru 8, in everything. in the seventies and nineties i was in the gym, in the eighties, i taught grades 4, 5, & 6. i have also served as an adjunct college educator spanning about 24 years at youngstown state, & slippery rock, univeristies & mount union college.
i hope you are starting to get the hang of all of this. if you are oanda, please check out my answer to chasing pips as to how i set up the automatic stuff.
goji, bernie