hi petji,
you may want to re-visit posts 307 & 309.
g, b.
ok thank you gojilover 
so if the candle that closes above 10ema at 1,3928 i enter at 1,3930 yes?
but you didn’t answer if the price have to be below 10ema to wait until it crosses 10ema to look for go long?
sorry for being lame but i really want to understand everything
Hi pejti,
There is an equivalent order type to mt4’s buy stop…it’s an “Entry Order”.
Same idea…make sure the buy circle is filled and just enter the price you want the order to trigger at, and optionally specify a take profit and stop loss price too by clicking on the “advanced” button of that order screen.
hi all,
thank you sweet pip, i have no experience with mt-4. pejti, i hope you understand, now, but do not hesitate. however, please pay atteniton to this e-mail because i am going to be taking a couple of days off.
well, i got there. i just hit +503, so i am done trading for the month. i may aslo take april 1st off, and no, this is not a joke, i may take it off because of the big virus that may be unleashed. if i know i won’t be effected, then i will probably trade on wednesday. the evening’s trade:
6:55 long, .6797
7:10 exit, .6805 +8, +14
march total, +503
2:00 +137
8:00 +119
3:00 +116
7:00 +144 (i also earned +59 on two sunday evenings that i did not add into the over all total, which must have a mistake. i just added up the times’ totals and they indicated +516)
i kept track of the times of the trades to see if any one time would perform poorer than the others. if so, i wouldn’t trade that time frame, but they were all over 100, thus they are all valid. i am not going to back and see where i made a mistake, i’ll just keep the +503.
tomorrow, for something to do, i’ll go back and update all my totals since inception.
talk to you all, real soon,
goji, bernie
hi all,
i just thought of another point that i wanted to make. in looking at the totals for each time frame, i know some of you are all over the world and also that some of you have jobs and other things that may keep you away from trading. well, you certainly do not have to trade all four frames. in the past, i was always told, or read, that 7:00 pm is usually slow. well, i admit you may have to wait a little longer to complete your trade, but the totals indicate you can also be quite successful in that time slot. also, even if you were just a part time trader and only traded one time slot, THERE IS NOTHING WRONG WITH an extra 100+ PIPS PER MONTH.
SEE YOU SOON,
g, b
Goji,
I attached a picture file with AUD/USD: 5 min candles, starc bands (7,21,1.33 + 7,42,2.5) & 7 sma
Does this look right?
This is Monday 3/30/09
Blue Vertical line is 8:00 AM EST
Can you comment on action w/ bands?
Thanks
Hi Goji I have a question too. I never got an answer to this question by reading your thread so I will just ask you.
If the high or low shadow lands on 0 or 5, do I round it up/down by another 5? or do I just buy/sell at 0/5?
Hello Bernie, everyone,
I’m finished for the month of March.
This morning trades (the original system):
8:20 - 10X long at 1.3320 - exit at BE;
8:35 - 10X long at 1.3320 - exit at TP +12.9;
9:05 - 10X short at 1.3305 - exit at SL -10.2;
9:25 - 10X short at 1.3305 - exit at TP +13.1.
+14.8 for the day; +259.4 for the month of March.
Well, not everything went my way:), especially in the middle of the month. But I see no reason to complain, EVERYTHING never goes someone’s way all the time during a long period of time.
More important, I hope I finally learned something:o
Dean,
If a 5min candle crosses the 10EMA and closes above it, let’s say, at 1.3320,
looking strictly at the initial rules, you place a long limit order at 1.3325.
There may be variations, though, depending on the price action and your “gut feeling”:D. If the price retreats, you may want to place a limit long order at 1.3320; or, if you do not feel right about the trade, you may stay aside at all. Neither way garantees you anything.
One of the things that I think I learned;), is that this strategy is just a general concept, you apply it differently at different times, and you manage your trades in different ways.
If you go back you can read some of my previous posts, when I applied the strategy as a machine would do, I was losing money.
Good luck.
Anybody,
What about the April 1 virus anyway? Does anybody know how serious that is? If everyone is frightened by it, it might really be a good idea to skip trading tomorrow just for the reason of low volatility only?
hi all, this may be a long post,
first, i haven’t heard anything more about the virus, other than it is supposed to be a real threat!
i hear trumpets blowing, drums beating, CONGRATS, chasing on a great month. you should be an inspiration to all of the newbies. you took my strategy, modified IT SLIGHTLYfor your own use and existing market conditions, and though, it did not happen over night, you hung in there, learned and had a great march. KUDOS!
dean, this is where actual rules become difficult. i would consider the length of the shadow, along with what chasing said. if it is a short shadow, i might jump right in at the 00 or 05. if it is a longer shadow, i would want to see if momentum is in my favor.
fort, you may want to go back and re-read posts; 725, 732, 759. here are the first three trades i would have taken off of your chart.
8:00 short, .6810
8:20 exit, BE
8:20 long, .6807
8:55 exit, .6812 +5
8:55 short, .6812
9:25 exit, 6787, +25, +30
i hope this helps, although even blown up some of the times and prices may be off slightly as it was a little difficult matching up.
monthly totals, since inception:
oct. +594.76
nov. +377.3
dec. +328.5
jan. +300.9
feb. +264.6, +149, new wet up
mar. +503, while +59 was earned additionally
i find the march total amazing even to me. i have had a number of issues to deal with in march. i also did not feel very well for a period of time. also, i had to come up with new sleep schedules to accomodate the varied trading sessions. anyway, it all worked, and worked pretty well.
see you, tomorrow or thursday?
goji, bernie
Hi Bernie!
The trumpets and drums that you hear - they are blowing and beating in your honour! For your creativity and patience.
The strategy is TOTALLY yours, I am really not sure what my modifications are that you mentioned:). Unless you meant that once I set the TP at +35 (mostly being driven by the “no EMA crosses/no action” desperation):D.
Thank you.
Great month guys! Happy to say I’m doing well on demo as well. I’ve noticed that I’m a really good discretionary trader, as long as I don’t let losses spiral out of control. If I just take each trade as it comes, and don’t try to “make back” losers, things tend to go very smoothly.
Anyhow, I just read that the conficker c worm is going to be unleashed on the 1st (most likely - the creator could pull a fast one and put out whenever he/she wants), but leaving your computer off until the 2nd won’t make a bit of difference. It’s not something that’s going to come out and then be gone the same day. Just be sure to have your anti-virus and OS updated and maybe backup your computer tonight.
interesting thread.
a lot to read
so far looks ok
gojilover could you check if this is what your strategy about?
see screenshot and tell me if i am right
http://img25.imageshack.us/img25/9735/eur.jpg
Yep that is how it works.
Edit: No wait that looks wrong? How can the entry 1.3195 be higher then the close 1.3193 that is above? If anything the entry should be 1.3190.
yes, my mistake, on screenshot it was downtrend and i was thinking up
and another question - is there a rule that tells how many candles have to be above or below 10EMA to wait for cross? it is ok with only 1 candle or should i look for two or more candles?
if the close is at 93 then yes, entry is long at 95. on your chart you have 95 under 93, which is wrong, however. in looking at your chart, the close of 93 would mean a short entry at 90. no, you need a cross and close above or below the 10 ema for entry, you do not have to wait for extra candles. g, b.
hi gojilover
i made another screen to check if i am right
please take a look
http://img26.imageshack.us/img26/2979/eur1.jpg
and what if candle close at 1,3250 ? a enter at 1,3250 or 1,3245 to go short?
hi all,
p, it would depend on the feeling i had for the market at the time. if it was moving in a good downtrend, i might enter, if it was choppy, i might wait.
the day off was wonderful, and so was the beginning of the new month. i am going to hang around after the news this morning for one more trade, if one comes up. i may do that this month, mondays thru thursdays. fridays, i will only take the one trade. the first trade:
8:03 long, .7112
8:13 exit, .7128, took this early, as per rules, had i stayed longer i would have made more, but there was news coming at 8:30 am. i was pleased with the 16 pips to start my new month. +16
later,
g, b.