Simbasystem-gbpusd - page 35
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One Minute New Entry Signal 25 Jan
Hi everybody,Please see pic
A few minutes ago we had a new entry-short- in the 1M tf in the 1.9670/80 range.
This entry was followed by successive different additional entry signals in the same tf..we are now at 1.9711..and considering that we have the Chandelier,the SATL,and the pivot in the 1.9714/24 area..it could be interesting to see if we have an entry in the 5M tf too..this could be very good..and if we do not have the 5m signal,I think this area is interesting for additional shorts,basically due to its low risk/reward ratio..
We will see
Simba
5 M Entry signal 25 January
Hi all,
We had a new entry-sell GBPUSD in the 1.9725/32 range- signal,this time in the 5M tf...see pic
Since we are above the Chandelier,either we do not take it,or we use a "time stop"until the end of 1h bar
Will continue
Simba
Chandelier held,in for a nice ride?
Hi all,
The 1H Chandelier has held well,so..are we in for a nice ride? See pic
It can be interesting to se if we can have additional entries in the 1M tf
We will see....
Simba
KptMisiu
Simba,
I would wait until SATL or Chandelier turns his colour and close the position/s.
KptMisiuHi KptMisiu ,
Sorry for late reply.
Well I closed at Resistance3..@1.9826 approx with 46 pips profit..and I left a lot of potential profits on the table..it went to
1.9914
The reason why behind my reasoning was that cable was at R3,I had 40+ pips profit and that usually no news days mean trading range days..(usually but not always
So,I decided to pocket the profit
On the other side,I think that the Chandelier changed at 1.9828,AFTER THE UP RIDE,so..practically same result
In case of fast volatility... Could it be interesting to exit when we have an approx ADR profit? Taking into account that the approx Average Daily Range for cable ranges from 105 to 145 (lets say 120) pips..it makes me wonder how can I test this idea...On one side you lose the potential to ride a "several days " trend(solution? half position exits? )..on the other side exiting at ADR probably-not always- means you can reenter at better price next day...Food for thought
KptMisiu,or anybody interested,please be so kind to post your comments about this matter
Regards
Simba
Hi KptMisiu ,
Sorry for late reply.
Well I closed at Resistance3..@1.9826 approx with 46 pips profit..and I left a lot of potential profits on the table..it went to
1.9914
The reason why behind my reasoning was that cable was at R3,I had 40+ pips profit and that usually no news days mean trading range days..(usually but not always
So,I decided to pocket the profit
On the other side,I think that the Chandelier changed at 1.9828,AFTER THE UP RIDE,so..practically same result
In case of fast volatility... Could it be interesting to exit when we have an approx ADR profit? Taking into account that the approx Average Daily Range for cable ranges from 105 to 145 (lets say 120) pips..it makes me wonder how can I test this idea...On one side you lose the potential to ride a "several days " trend(solution? half position exits? )..on the other side exiting at ADR probably-not always- means you can reenter at better price next day...Food for thought
KptMisiu,or anybody interested,please be so kind to post your comments about this matter
Regards
SimbaHi Simba and everyone,
I didn't get the entry signal on M5 cable, W%R only got as high as -7.5. Too bad, looks like it would have been a winner (definitely with 30 pips TP)
Looks like data difference. I'm a little worried about that. Simba, did you say you used GFT and (in the other thread) that MIG and Alpari have similar prices? I can backtest and forward test on Alpari. For live trading, is it possible to use GFT or MIG?
I like the idea with employing news in the system. Simba, you expressed some news-related thoughts during trading earlier. Where do you get the news from? Would you mind giving more details about how you employ them in trading by technical analysis?
Malcik
Hi Simba and everyone,
I didn't get the entry signal on M5 cable, W%R only got as high as -7.5. Too bad, looks like it would have been a winner (definitely with 30 pips TP)
Looks like data difference. I'm a little worried about that. Simba, did you say you used GFT and (in the other thread) that MIG and Alpari have similar prices? I can backtest and forward test on Alpari. For live trading, is it possible to use GFT or MIG?
I like the idea with employing news in the system. Simba, you expressed some news-related thoughts during trading earlier. Where do you get the news from? Would you mind giving more details about how you employ them in trading by technical analysis?Hi Malcik,
1-Data difference can affect,but usually this effect should be small on a percentual basis..
2-Even if they do not have the MT4 platform,I use GFT for trading,since many years ago,and they are very reliable,they are not perfect(nobody is) but they have fast excutions,are a serious company and they wire the withdrawals of funds as I instruct them..so,it is a pity that they don`t use the MT4 platform,but I am not going to change my long term broker for that.
I am not recommending them,I am sure there are many equally efficient brokers,so,it is up to you to choose one
3-MIG,Alpari,my experience with them is limited to demo platforms where I " twist " the different indicators,specially the MTF ones for trend following..so,I do not know how reliable are them for live trading..most of the time,when I get an alarm (Williams % R)in my GFT platform,I usually get the same alarm
in the MIG one( Thanks to the alarm indicator posted by Zathar ),so,I presume that data must not be so different
4- NEWS :I do not trade on news,I just take them into account because news time is usually prone to stop hunting and noise increases a lot..conversely,no news days usually mean trading range days..and some times news are the lacking catalyzer that can precipitate a "predicted" event
Hope these words have been of help to you
Regards
Simba
Successful Signal..the Chandelier Held,for A Ride
Hi all,
The 1H Chandelier has held well,so..are we in for a nice ride? See pic
It can be interesting to se if we can have additional entries in the 1M tf
We will see....
SimbaHi All,
Nice ride we had,depending on which signal you took-the 1M or the 5M,you had from 50 to 100 pips potential profits.
I entered 2 positions @ 1.9675(1M signal) and @ 1.9728(5M signal),so,my average price was 1.9701(and a half )..Since I had double my usual position size I was on edge until 19:00 CET,with nothing else to do but checking the Chandelier every hour,then I relaxed and enjoyed the ride ..If you follow my other thread you will know that my target was "below
1.9650"..;)..really enjoyable indeed
In addition,there were several interesting additional signals in the 1M tf,from11:58 to 18:59 CET,all of them would have been extremely profitable .
Please note that we had the confluence of Chandelier,Satl and Pivot line in a very tight -10 pips area-range..usually this acts as a magnet for price,and a fight begins..either penetration or rejection..but it takes time..;)
Regards
Simba
Hi Malcik,
1-Data difference can affect,but usually this effect should be small on a percentual basis..
2-Even if they do not have the MT4 platform,I use GFT for trading,since many years ago,and they are very reliable,they are not perfect(nobody is) but they have fast excutions,are a serious company and they wire the withdrawals of funds as I instruct them..so,it is a pity that they don`t use the MT4 platform,but I am not going to change my long term broker for that.
I am not recommending them,I am sure there are many equally efficient brokers,so,it is up to you to choose one
3-MIG,Alpari,my experience with them is limited to demo platforms where I " twist " the different indicators,specially the MTF ones for trend following..so,I do not know how reliable are them for live trading..most of the time,when I get an alarm (Williams % R)in my GFT platform,I usually get the same alarm
in the MIG one( Thanks to the alarm indicator posted by Zathar ),so,I presume that data must not be so different
4- NEWS :I do not trade on news,I just take them into account because news time is usually prone to stop hunting and noise increases a lot..conversely,no news days usually mean trading range days..and some times news are the lacking catalyzer that can precipitate a "predicted" event
Hope these words have been of help to you
Regards
SimbaSimba, thanks very much for your reply. I know you don't trade news but I still wonder if you could give us a hint of how you would employ them into this SimbaSystem
E.g. if you have any specific list of types of news that are important and will probably shake the market etc., and therefore it is good to avoid trading around them.
Thanks for your time and have a good night to all of you
26 Jan New Entry 1m Tf+ Malcik
Simba, thanks very much for your reply. I know you don't trade news but I still wonder if you could give us a hint of how you would employ them into this SimbaSystem
Hi Malcik,
I receive the news-schedule both from GFT and from Saxobank,the most important ones are:NFP,ISM MANUFACTURING,ISM NON MANUFACTURING,CPI CORE,PPI CORE,INDUSTRIAL PRODUCTION,CAPACITY UTILIZATION,DURABLE GOODS ORDERS EX AIRCRAFT..WHENEVER MR BERNANKE,MR TRICHET,MR FUKUI SNEEZE...;)..YOU SHOULD ALWAYS KNOW BFOREHAND THE NEWS SCHEDULE,IF ONLY TO AVOID TRADING AROUND THEM..
Hi all,
This night we had some entry signals in the 1m tf,and this morning we had the most interesting one..see pic, 60 pips potential profit,hope you pocketed at least 40 of them..;)
Regards
Simba
Malcik Again
Simba, thanks very much for your reply. I know you don't trade news but I still wonder if you could give us a hint of how you would employ them into this SimbaSystem
Hi Malcik ,
Please check this http://www.tradeology.com/forexdr3.html ,it can help you understand the news and its effects on trading
Regards
Simba