I got next question about 4 and 5 digits brokers in manual it says that SMA200 should have 50 and - 50 level this is for 5 digit broker ? and for 4 digit broker ? on screen i see that SMA200 and levels are very close on chart but when i use template on 4 digit broker SMA200 is very big
because i
I was well over 600 pips yesterday, so things can change rapidlyā¦ lets see how it ends up at the end of the month. And further. The daily should provide bigger winners, but also bigger losers. Iām not much of a backtester, so I jumped right into the deep end and tried it live.
Also, keep in mind that my risk going into a trade is much less than that of Ilz, but I do give myself the ability to enter many more trades and thus spreading risk around a bit more.
Hey everyone. This is my first post to this thread. I been lurking and started testing today (a few hours ago) on a small live account and saw an excellent setup for the U/J pair this morningā¦
Thanksā¦
At the moment after 2 hours of testingā¦ im up +250 pips. I guess I came in at the right timeā¦
me also. shame that i make small TP on other pairs and didnāt get e/u for buy to get the same raid UP as gbp/usd on this i take 250 pip and close trade for me is enough
Hi all,
As silly as it may sound but could anyone explain the meaning of colors of the fractals used in sup/res barry indicator. Question arised since it happened to me several times that I got stopped out by just a few pips (5-10) only to find out that after that, price massively followed in desired direction.
When jumping in the middle of the swing Iām seting SL several pips (usually 5+spread) above/below last sup/res - which I obviously preffer since it allows me to play with biger trade, than in plain 100pip entry SL.
Im using non dealing desk broker, so rather no stop hunting on that.
So back to my question: is there any special meaning as to what color the sup/res fractal is ? To my knowledge a broken support becomes resistance, so logically thinking color shouldnt have any meaningā¦
Is it only me having this problem ? What am I doing wrong ? Any ideas ?
I think you have the right idea. The color does signify support or resistance (You can change the colors, so I wonāt refer to them by color here).
In theory, a broken support/resistance has the potential to become the opposite, but only if it is tested and proven true. A broken support will not automatically become a resistance, but it might. In this case, if price does test the old support and is proven to be a new resistance level, the fractals will indicate this after a couple of candles as well. You will notice that the new support will be at the lowest low and the resistance will drop down to the old broken and tested support. I say after a couple candles, because the indicator repaints.
I hope that helps.
Hi ILZ ā¦ any news? Everything ok?
Iām really interested in your reply to previous questions.
Also, your trading journal is really missing.
Please, come back! 
Well this system looks interesting. I implemented it on EURUSD 4 hour chart yesterday and grabbed 32 pips. However I didnt understand it completely. Can anybody please help:
Does this system works good on 1 hour time frame too? Did you test it on 1 hour chart? How are the results?
If the price broke the EMA but there is no established support/resistance, what should we do in that case? How do we enter in the trade then?
If we are late to enter a trade then how do we enter? We need to enter when the price broke the established support or resistance and close. Am I right?
When price is below the ema should we only take short trades and vice versa? I mean there are times when price is below the EMA but has up movements too. Should we take that opportunity or not? or should we trade only by the principal that when price is above EMA we will look for Longs and when its below we will only look for shorts. Right?
Please Reply. Thanks.
Took the folloowing trade. I am not sure whether it is correct. Took the trade because, the last candle closed below red line and the new one also opened below red line
Would really appreciate your comments.
aud/usd - sell @ .9541 (9 p.m. est, june 06, 2013)
[QUOTE=ādonsls;497982ā]Took the folloowing trade. I am not sure whether it is correct. Took the trade because, the last candle closed below red line and the new one also opened below red line
Would really appreciate your comments.
aud/usd - sell @ .9541 (9 p.m. est, june 06, 2013)
<img src=ā301 Moved Permanentlyā/>[/QUOTE]
You are freestyling on this one Don. According to Ilz a cross of the Supertrend is not sufficient, you also need it to break the support line at the bottom of your image. I think you need to also look at the price action. You are going against a strong bullish candle based on 2 much weaker bearish ones. Dont just focus on croses, lines, colorsā¦ Look aT PA as well
I think he is using the at least 30 pips away from Support rule, if he is based on that, his entry is correct.
[QUOTE=ākashif314;497953ā]Well this system looks interesting. I implemented it on EURUSD 4 hour chart yesterday and grabbed 32 pips. However I didnt understand it completely. Can anybody please help:
Does this system works good on 1 hour time frame too? Did you test it on 1 hour chart? How are the results?
If the price broke the EMA but there is no established support/resistance, what should we do in that case? How do we enter in the trade then?
If we are late to enter a trade then how do we enter? We need to enter when the price broke the established support or resistance and close. Am I right?
When price is below the ema should we only take short trades and vice versa? I mean there are times when price is below the EMA but has up movements too. Should we take that opportunity or not? or should we trade only by the principal that when price is above EMA we will look for Longs and when its below we will only look for shorts. Right?
Please Reply. Thanks.[/QUOTE]
[QUOTE=ācheva282;498030ā]
I think he is using the at least 30 pips away from Support rule, if he is based on that, his entry is correct.[/QUOTE]
30 pips away is not a reason to enter Chevaā¦ nor a Supertrend cross. Its part of an āif thenā situation. If price closes above/below resistance/support, then enter if at least 30 pips away from the next established res/sup level. Look at scenario 3 of the entry examples that Ilz posted at the beginning of the thread.
Itās clearly not an advisable trade, but if you want to āfindā reasons to trade it then go for it.
Itās dead simple, trade sma croses that start trend and re-entries on sup/res crosses.
I asked lat time about setting of 200 SMA for 4 and 5 digits brokers and now i want to show you what i mean please take a look in template and in manual for this system it is that 200 SMA is set with levels -50 and 50 but if this will not be changed in 4 or 5 digits broker i think that it will not work correctly . Please take a look of difference on 4 and 5 digits broker:
This is 4 digits broker :
This is 5 digits broker :
screens made today
WAT ARE THE CORRECT SETTING FOR THIS SMA200 for 5 and 4 digits brokker ?
This morningās open tradesā¦ prior to NFP :20:
2 trades were stopped out yesterday that basically cancelled each other out (+80,-74)
It looks like the settings are for a 5 digit broker, which is what i haveā¦ I also think that they are for the 4 hr charts (even thought I use them on the daily).
I would try 5 and -5 instead on 4 digit broker and see. Other than thatā¦ ??
YEs i added -5 and 5 level on 4 digits broker then SMA looks like on 5 digits broker i mean its thin
Looking good on the daily man. You mentioned you are running it on 27 pairsā¦do you adjust any rules for different pairs or are you pretty much just following the entry/exit rules as provided? Also, are you adjusting your stops throughout the day, or only making changes at the close of a candle?
[QUOTE=āirvinfitness;498109ā]
Looking good on the daily man. You mentioned you are running it on 27 pairsā¦do you adjust any rules for different pairs or are you pretty much just following the entry/exit rules as provided? Also, are you adjusting your stops throughout the day, or only making changes at the close of a candle?[/QUOTE]
Thanks, I hope it holds up long term.
Iām using a modified version of the system.
Entry rules are unadjusted and applied as such on every pair. I keep it simple. No shorts above sma (and vice versa), trend entries upon sma cross, and trend re-entries upon clear sup/res breaks. I can go through the 27 pairs in 10 to 30 min.
My position size is different. 1 unit per $ of unrealized balance at time of entry. This gives me a confortable risk with multiple open pairs.
Stop losses only get adjusted once a day. Not quite at the close of the candle, but nearly. I need my beauty sleep. Itās after NYClose, so basically the trading day is over by then.
Since my exit is a stop out, managing my SL is the key. I mostly try and give the trades some room and use sup/res levels to place them below/above. There is a lot subjectivity in this, and every trade is different. No set SL amount. No rules for moving to break evenā¦ Just take whatās given to me by the particular pairs price action.
I hope that helps a bit
Thanks all for your replies. Much appreciated. Yes, I did enter this trade on the 30 pip difference rule, but guess I was wrong. I am still demo trading this method. So got room to trade and learn from you guys.
