Brilliant, you can see a clearer view of where the markets could be headed if you add the 14SMA I would also use it from now on.
I get what you are saying about the trailing stop but what happens if you get a spike of some sort and when you were in the green it turns into red and hits the stop loss then walk away with a loss…
I dont really know which is better…
But yes I think it will be good to stay intouch and see how each other manage trades… Sad that some threads die out after some time, it start off good then people get lost somewhere else
I understand what you mean with it going flat but when I look at both SMA 21 and 14 the 14 seem to be crossed over the 21 and pointing upwards, I was sure this seems like a good trade though…
Anyway I know it is still a long day ahead but sofar I am keeping my eye on
NZDUSD will go long if it closes inside
AUDUSD if it closes inside although need to keep an eye on this one though as it has been going down for a few months now and only recently started going above the 21 SMA
USDCAD for a short
EURGBP but i dont htink this one will close inside candle as it is quite close but a short iof it does
GBPUSD for a long SMA’s seems to be pointing up so far though
LEt me know what you think of these maybe we could go in on some of them by tonight when the market closes
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Also liking the USDCAD will wait and see tonight if this candle closes inside though and what the SMA’s are like… I will go short on this one if all the rules are met though
[QUOTE=“Icequebe;529833”]I understand what you mean with it going flat but when I look at both SMA 21 and 14 the 14 seem to be crossed over the 21 and pointing upwards, I was sure this seems like a good trade though…
Anyway I know it is still a long day ahead but sofar I am keeping my eye on
NZDUSD will go long if it closes inside
AUDUSD if it closes inside although need to keep an eye on this one though as it has been going down for a few months now and only recently started going above the 21 SMA
USDCAD for a short
EURGBP but i dont htink this one will close inside candle as it is quite close but a short iof it does
GBPUSD for a long SMA’s seems to be pointing up so far though
LEt me know what you think of these maybe we could go in on some of them by tonight when the market closes
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[/QUOTE]
Well at this moment is when we need to develop discipline. I have been on this system just for a week and I just got 3 trades and would like to trade more often, but the system is just like that. At this time with the 14 SMA crossing over the 21 SMA tells me that a new trend is forming and this system works better with a strong trend. So to put the odds on my side I will get in when I see the 21 SMA pointing 2 o’clock. This system is the same one called “10 min Breakout System by Dean Saunder” and just finish the e-book. The system has a rate win within 65% and 80 % so forcing the trade just will add more losers and drop down the wining rate. My point here is patient and discipline.
NZDUSD IB grew up
AUDUSD looking good so far by 1pip
USDCAD IB grew up by 1 pip
EURGBP IB grew up
GBPUSD IB grew up
I know what you are saying and I just had another look again so far I am thinking the AUDUSD is looking good and if closing IB I will set pending order tonight for it…
USDCAD is also not looking too bad though, and as you say for you to get into a long it needs to point to 2 and as I can see USDCAD is pointing towards 4 and IB is still there so lets hope…
Also everyone is saying this is the same as Dean Saunders’s 10 min breakout system and he has just changed the name of it to 600 seconds which is still the same thing…lol
But where could I get a copy of this ebook though I tried searching for it though but found ones need to pay for, lol , sounding well stingy now hey
I know what you are saying and I just had another look again so far I am thinking the AUDUSD is looking good and if closing IB I will set pending order tonight for it…
USDCAD is also not looking too bad though, and as you say for you to get into a long it needs to point to 2 and as I can see USDCAD is pointing towards 4 and IB is still there so lets hope…
Also everyone is saying this is the same as Dean Saunders’s 10 min breakout system and he has just changed the name of it to 600 seconds which is still the same thing…lol
But where could I get a copy of this ebook though I tried searching for it though but found ones need to pay for, lol , sounding well stingy now hey[/QUOTE]
I downloaded the PDF file from the Internet for free. I will try to look for the page. But don’t worry about the e-book, it says the same things explained at the first post of the thread.
Yesterday when you ask me about the EURUSD trade I placed a 14 SMA on my charts. I was confused after reading you messages because I was confusing the SMAs. I removed the 14 SMA to stick with the rules. By the way, the EURUSD went the other way. If you placed the sell stop it would’ve trigger.
Yeah this is what I was saying also I did not take the EURUSD as there was a possibillity of it going up as it was close to the 21 SMA. I took the trailing stop off my USDJPY trade but it is running into the red now though… Chance of it going back toward the positive side though?? I check the 14 SMA just to make sure how the trend is changing I dont use it to place trades though
So I see this morning the USDJPY did not go as planned and hit the stop loss, have you got the same by any chance?
This is why I said maybe also good to run a trail stop behind it I know you cancel out your R:R but it owuld still be better then to have a loss on this trade now then.
So I see this morning the USDJPY did not go as planned and hit the stop loss, have you got the same by any chance?
This is why I said maybe also good to run a trail stop behind it I know you cancel out your R:R but it owuld still be better then to have a loss on this trade now then.
Your thoughts?[/QUOTE]
Yes, I got stopped as well. Well I understand your point. But I am going to stick to plan to see how it goes.
I did not have any pending orders either though… Seeing a few potential set ups but again still a long day will see how the market stands tonight before bed time though…
Have you tried making an EA for this and backtesting it? I have a crossover system myself using EMAs but it seems your SMAs are producing more consistent results for the past week. Would be interesting to see how it fared longer-term.
I have gone short on USDJPY, GBPJPY I have had an open order on this one since Thursday though using my 4 hr charts and using a different entry on it and running in the profit at the moment,
I am using this system everyday but another one on the lower time frame though.
MARYPIPPINS123
I dont know if there is an EA for this I doubt someone has done one yet, and for me I am useless when it comes to programming so I cant even say I would like to do it
I have a friend who will be able to do it but he would charge me for it though
So am just looking at the charts and do not see many set ups for this today, I am seeing EURGBP which if it closes inside could be looking potential, SMA is down have a small inside candle forming.
Am gonna place a pending order for this one an hour before the close of the candle…
Do you have any pending orders or any orders running.??
So am just looking at the charts and do not see many set ups for this today, I am seeing EURGBP which if it closes inside could be looking potential, SMA is down have a small inside candle forming.
Am gonna place a pending order for this one an hour before the close of the candle…
Do you have any pending orders or any orders running.??[/QUOTE]
Pending orders for GBP/JPY and USD/JPY both buy stop. I am testing the system exactly how Toby describes it. I know there are other methods and entry setups but the thing a I like is the small amount of time you spend looking charts. Believe me, I want other systems to place trades at least twice per day. While demo other kinds of methods I stick with the rules on this one.
See you later. After 1600 EST I will let you know my new PO’s.