Simbasystem-gbpusd - page 14

[CP6]

ok..problem solve...thank God

for NF platform real acc, i use 170 setting it give the same movement with 180 at FXDD demo acc.

thanks

[trader79]

Trade

Here is my trade for today with Simba system.

My broker is O&A. Took the trade at 2am EST (London Start)

+30 pips

[k3iroll]

trader79:
Here is my trade for today with Simba system.

My broker is O&A. Took the trade at 2am EST (London Start)

+30 pips

Hi trader79,

how do you filter which point when Williams goes above -5 line to trade? or do you just take all the points that goes above line -5 to open the trade?

[trader79]

k3iroll

I considered each time WPR above -5 as sell opportunity and just sold at the start of active London session at 2am est. Simba mentioned that he already sold and he would add more at higher levels gave me confidence also.

[SIMBA]

The Most Important Thing To Do After Closing A Trade

HI ALL,

1-PERSONAL TRADE(JUST TO SHOW YOU THE MOST IMPORTANT THING TO DO AFTER CLOSING A TRADE)

THIS IS HOW MY OPEN POSITION STATEMENTS "SCREEN" LOOKED AT 10:30 CET (09:30 GMT)

GBP/USD Sell 1,500,000 1.9537 917.76 20/12/2006

The meaning is :

symbol : GBPUSD

operation: sell

size:1,500,000

traded: 1.9537

P/L(EUR):917.76

value date: 20/12/2006

Basically it means that my gbpusd sell @1.9537(done several hours before) was in 917.76 (EUR) profit situation.

I closed the position at 10:51 CET(09:51 GMT),when,after several hours carrying a loss,then being in profit for approx half an hour,the profit started to turn into a loss,in that case I usually close the position AND REEVALUATE,specially on low volatility days(at least for now,today is a low vol day)...FOR THE MOMENT

So,this is how the trade ended ,basically at break even(+114,72 EUR).I modified the last 4 digits of the 2 orders,the rest is just what happened

All times are in GMT

Foreign Exchange Confirmations

Date/Time Type B/S Base Currency Value Date Currency Pair Counter Amount Rate Order# Market Value, EUR

Dec 18, 2006 1:12:57 AM DDL S 1,500,000.00 DB Dec 20, 2006 8:00:00 PM GBP/USD 2,930,550.00 CR 1.9537 14778xxxx

Dec 18, 2006 9:51:35 AM DDL B 1,500,000.00 CR Dec 20, 2006 8:00:00 PM GBP/USD 2,930,400.00 DB 1.9536 14779xxxx 114.72 CR

NOW,THE IMPORTANT THING:WHAT DO I DO NOW?

I GO TO REEVALUATION MODE AND ASK MYSELF,WHAT COULD I HAVE DONE BETTER?(TRY IT FOR YOUR TRADES..)

IMPROVE MY ENTRY(SEE THE FIRST 3 PICS)

1-IF I had taken into account theFIB PIVOT LEVEL I would have entered at around 1.9560,I am trading the advanced,so,I can ,and usually do it.In fact I am going to ask you to do it,in afew days(NOT FOR THE MOMENT ,PLEASE..)

2-IF I had waited for an approach to the ANG autoch,1H TF,I would have entered between 1.9561(FIBPIVOT) and 1.9579(ANG)

3-In low volatility periods,usually the break out systems go bad(because of stop catching that creates false break outs).So,I USUALLY CHOOSE an excellent break out system and use its BUYSTOPS(1.9547/1.9567) AREA TO PLAN MY SELL ENTRIES..by the way the dolly is an excellent break out system,and had you followed it,at least for the buy entries and TP levels shown,you would have made money..

4-Follow my initial plan of a second entry in the 1.9560/1.9620 area..I didn`t ,volatility was very low,and I hate carrying positions opened in low vol days..BUT THIS IS AN EXCUSE..I shoud have followed my initial plan.

IMPROVE MY EXIT?

1-YES,and No.We are now below 1.9500,so,I have left a lot of profits on the table,but,I have learnt from the hard knocks school,to never let a profit become a loss in low volatility times..

Conclusion:1-If i had improved my entry to the 1.9560 area I wouldn`t have had the problem at exit,and would have exited in the 1.9507/1.9497 area,FRIDAY LOWS AREA(Remember low vol day means stop catching and rebound to range..)

2-I am lucky to base the core of my strategy on a consistent(BASIC SIMBA) system that,even when I make several mistakes,as today,HAS KEPT ME SAFE .If instead of being "advanced",Ijust had stayed with the BASIC i would have closed the position @1.9507 with 30 pips profit..so,for the moment,STAY BASIC

This trade is history now,BUT DOING THIS FOR EACH AND EVERY TRADE YOU CONVERT irrelevant history INTO trading EXPERIENCE

2-BASIC DRILL:YOU JUST PRACTICE THE BASIC,DO NOT START ADDING,YET,THE KIND OF STRATEGIES I HAVE SHOWN ABOVE..remember Crawling,Walking,Running

ALL OF YOU SHOULD BE IN PAPER PROFIT OF 30 PIPS PER ENTRY.SOME OF YOU WOULD HAVE ENTERED ONCE,SOME UP TO 5 TIMES,IT IS OK.. SEE LAST PIC

We will comment tonight.ANd,please post your papertrade history from the MT4 platform(pic of the history screen)

Regards,

SIMBA

[SIMBA]

Trader 79

trader79:
I just loaded the template posted by Simba, it works fine.

You guys need to compile each one of those indicators by opening Metaquotes Language Editor if you haven't already done so.

According to Simba, you just need #MTF_xPMA_V2SATL and Williams' Percent Range in basic Simba system but you do need to compile those other indicators for #MTF indicator to work.

Hope that helps.

EXCELLENT POINT,

Thanks,

SIMBA

[SIMBA]

Cp6

CP6:
hi simba,

thanks for yur efforts...its really superior...but i have serious problem here,

williams give different signal with a same setup...which 1 should i trust ?...williams at fxdd touch -5 then i enter...when i open real acc at NF, williams just reach medium of -5/-95...any idea simba ?

GOOD POINT,

WE WILL COMMENT TONIGHT WITH EVERYBODY(I hope that you,at least took the first one.. ).

Regards,

SIMBA

[cementman]

Simba..what is your platform..which data feed or broker do you have your metatrader set on..caz it seem there is alot difference between them.

[SIMBA]

Stay With The Original Settings

CP6:
ok..problem solve...thank God

for NF platform real acc, i use 170 setting it give the same movement with 180 at FXDD demo acc.

thanks

CP6 and several others.Please stay with the original settings ,as they are ,do not change to 180/170 periods just because the inmediate past tells you they are better..KEEP AT 90 PERIODS,MY SETTINGS HAVE A REASON WHY,AND THE PURPOSE OF THE DRILL IS TO USE MY SETTINGS FIRST,You will have ample time to express your creativity in a few weeks.

Sorry to seem so strict,BUT IF PEOPLE KEEP CHANGING THE SETTINGS AND POSTING THEM,THEY WILL CREATE A LOT OF CONFUSION,AND THUS,INSTEAD OF WASTING MY TIME I WILL STOP POSTING IN THIS THREAD.

You can open an alternative "simba clone" or whatever if you want-and prepare to invest a considerable amount of your time,but do not change the settings IN THIS THREAD,nor post alternative INDICATORS,ETC.

Thanks,

SIMBA

[SIMBA]

cementman

cementman:
Simba..what is your platform..which data feed or broker do you have your metatrader set on..caz it seem there is alot difference between them.

1-PLATFORM:GFTDEALBOOK..i ALREADY EXPLAINED SEVERAL POSTS AGO

2-BROKER:GFT

3-METATRADER: I HAVE SET UP SEVERAL ANALYZING platforms,and 1 Trading platform(GFT)

Regards,

SIMBA