I did not sold cable cause EURUSD warned me. That's why. Had EURUSD broken its lows, I'd have entered short on cable. But, anyway, today I did not lose a single naked pip. I was lucky. Maybe tomorrow I lose what I have not lost today.
I'm not worried at all with those losses, i have backtested system and read all rules docs and big part of this thread.
I'm just trying to find optimal filters to have profit/loss ratio higher.
Maybe Stepchoppy filter is useless and only add lag, i cant backtest this cause sometimes when there is big move, it redraw previous bar as well (not just last).
Therefore i would like to hear Owner's opinion/comment and in general recommendation for me. No one knows and feels this system better then you, Nina. It would be very useful and kindful if you can share your experience with me and address question that i pointed in previous post regards level 4 low/high and in general more correct information regards +20 pips opening from EMA50, if in long term its profitable to trade with this filter (or we are missing more good raither then false signals). To use StepChoppy indicator or its kinda useless due to lag it has and redrawing of last 2 bars? Or just to stick with nina+StepMa Histogram?
If you read the document in post one, you will see that I do not say a word about Stepchoppy.
About those +20/-20 from EMA50. Well, as you've seen today they kept us out of false signals. Another day it could keep us out of good profit.
The nearest of EMA50 we get the validated signal, the better.
But the key for me today was that stop of EURUSD 10 pips shy of last lows.
About level 4: it is well documented in post one. At least we need three bars of consolidations and then we play the break out. On eurusd today, this level 4 was at 1.2576, but look at it, there are more. And there are the last high, which it is a pick, not a consolidation. But with the strength we had, it was clear that it was a trade.
I say always that we need to feel the market. Didn't we see how eurusd was going up? It was going up as a rocket. I know, I know, the rules say "open of new bar". Yes. And? We see a knife going against us and we do not move because the rules say do not move?
News time is a different beast and we should know that.
Nina, good for you, but you know my policy, so even though i took a loss, i was already in profits, and made it back and some more after that.I don t beleive in luck in this biz, you make decisions, some are profitable, some not, but I just wanted to stress out that you don t have to be a brain surgeon to trade, although you need to be just as fucused and commited to this to be CONSISTENTLY profitable, and consistency comes when you trade your edge (Cat50fx) without hessitation or second thoughts.
If it s profitable, trade it, if it isn t just move on.
And remember that when you bend the rules and it works, it WILL work against you at some point if you keep bending and adjusting.
Finally, and I say this with all due respect, there is not a big correlation (sometimes) between euro and gbp, proof of that is eur/gbp, so I will stick to what i said, and i think i read here in the thread, that is to trade each currency with it s signals.
Anyone taken the Short GBP trade triggered at 20.30 GMT(18.30 CET)?
Finally, and I say this with all due respect, there is not a big correlation (sometimes) between euro and gbp, proof of that is eur/gbp, so I will stick to what i said, and .
Yes, this is mine.
The optional rule of +20/-20 are here from the beginning.
You are right. But I'm not going against the rules.
Right. The more you hessitate, the worst. But we shouldn't trade blindly.
20:30gmt is 22:30cet. Out of our trading time.
Ok, enough for today. Good luck!
I was just making a general quote not directing anything at you.
Hope you got it right.
Anyone created an EA for this system yet? Or an advanced indicator that would take all these rules floating around that require so much discretion/indiscretion on the part of the trader? Something that can crunch through all the rules, the price and the various variables and alert the trader?
I am going to follow this thread a little longer and when i get comfortable with all the indicators and rules, will get an advanced indicator of some kind programmed. It doesn't need to have to auto trade, but atleast if it can be programmed to alert only when all the rules are met, that would be a lot of help.
If anyone already has something like this programmed, would you care to share with the rest of us?
thank you for detailed explanation, I will trade relying on nina and stepma_stoch indicators only.
I trade only level 1 signals for now, still haven't mastered others. But there still some unclear things for me with level 4 trading, what low/high do we take ? of all previous bars with a few bars (2+) of consolidation ? or we take previous US session's high and low and trade on their break if stepma is higher then 0.04 (indicating that its breakout and not bounce)? And how do we exit from level 4 position ? Can you please clear it out for me?