Simbasystem-gbpusd - page 23

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kneepad

kneepad:
The Pivot also lines up with the 38.2 Fib retracement from 1.9433 low

to the1.9747 high. If we get the bounce we could be back onto

the uptrend.

Interesting idea,sometimes when pivots line with Fibos..we have Fibopivots.

The idea ,as an idea,is interesting and shows that you are an observant person..I am not joking,I am glad that people,at this stage,start noticing and connecting different pieces of information..they can reinforce the probability of a good trade

In this specific case,you may want to wonder ..about..Where do you put the Stop..if you enter long and the Chandelier is still above you..

Anyway,well thought,this is the way to learn

Thanks

Simba

 

Kiupp00

Kiup00:
Pippt, On your screenshot the % Williams Range Indicator is set to 180 periods, the correct setting for this is 90 periods, if you're precisely trading the system that is. But yes, right now using the basic rules, this is a buy opportunity or it could be the beginning of a reversal? FWIW, I also was stopped out by the Chandelier 1 hr. as per the current rules.

Right,

And thanks for helping other Forum members

Simba

 

dxx

dxx:
attached pic the red line to the far right is what i was referring to. Have i got this wrong please/

Hi,

The red line is the new Chandelier stop,When "price is stopped out" by the Chandelier,this latest automatically sets a new stop lvel in the opposite direction

Hope this helps you

Regards

Simba

 

cementman

cementman:
Guys..i think Simba said that you don't take any signals on the 5m as long as it doesn't agree with the chan chandlier on the 1H so these buys that you're seeing right now on your charts are not valid signals (you'll be naked with out stops caz you'll be on the opposite side of the chandlier)if i'm getting it right.. so i took the buy signal@ 1.9694 and exit @ 1.9663 with a 31 pips loss and we should be out of the market now waiting for one of the chandlier or the MTF XPMA to change there colour and start looking again for entry points by the %R..please correct me if i'm wrong Simba..see ya all in a few hours

Perfect,you have explained it much better than me.

As long as the trend is up you look for a valid signal in the%R to buy..but,if the Chand is above you you will trade naked..and we experienced yesterday what can happens when you trade naked(-130 pips)

Thanks fo your explanation

Simba

 

Pippt

Pippt:
Please see a new Buy setup for GBPUSD.

#MTF_xpMA_v2SATL is not visible but it is on positive way.

Let's see what happen

Pippt

This is not a valid signal..where do you put the Stops if you go long?The chand is above you so you can not use it..and you will trade with your ass exposed..like we did yesterday

Please change the %R Settings from 180 periods to 90,It was my fault,I made a mistake in one of the templates..fortunately other members corrected it.

It is normal,in the middle of trading/papertrading to forget some important detail,that is one of the reasons I want you to practice the drills.

Do not worry,first it happens to everybody,and second you have learnt from it...which is the important point

Thanks..and sorry for my mistake in the template

Simba

 

MTF ChandelierStops for the 5min chart

Here's a MultiTimeFrame version of the ChandelierStops which you can attach directly to the 5min chart, so no need to keep 2 charts open. You'll still need the original indicator. It's hard coded to use 60min timeframe. Be careful if you use it and make sure you understand MTF concepts. Even if you have a bar penetrate and close below/above the line, it does not mean an automatic exit, and the line WILL NOT change side right away. It will only change if the HIGHER time frame bar (60 mins here, or every 12th bar on the 5min chart) closes above/below. It will then "repaint" the previous hour, moving the stop to the opposide side.

Hope that made sense, off to sleep now

 

Thanks,and Rules for 21 Dec

Hi All,

First I want to thank you all for your active participation in this thread,taking the drills,and posting very pertinent comments.

You might probably have experienced today the strange feeling of losing approx 45 pips,while you had been in the money,even slightly in the money, for several hours..so we are around 11/12% down,taking into account that yesterday we lost 9.1%(-130 pips for 0.35lots/5kUSD in account) and today we lost 45 pips for a 0.2lots/5kUSD..so,if you do the calculation you will see these are the numbers..if you want to count in pips,ok -175 pips,but this not right,since position size was 75% Higher yesterday than today..and this affects your pocket,my friends

Most of you have entered in the 1.9690/1.9700 range,and should have been stopped around 1.9653

So,to avoid this nasty feeling(losing when you were winning) you can do the following,and you can choose which one of the 3 do you apply,just apply consistently,and then post your results:

THIS VARIATION MODIFIES THE RULES OF POST 193(only regarding TP)

1-Regarding TP,You CAN just do the same,SO,RULES DO NOT CHANGE,let`s (try to) ride a trend

2-Regarding TP,You CAN take your profits FOR THE WHOLE OF YOUR POSITION at any number between 20 and 40 pips,you choose 20,21,..,39,40 Whatever

3-Regarding TP,You CAN take HALF your profits at 50 pips(YOU CLOSE HALF THE POSITION)AND,exclusively in this case you move the stop at break even for the other half,disregarding,for the moment,the Chandelier stops(SO,ONCE YOU HAVE EXITED HALF YOUR POSITION AT 50 PIPS PROFIT,YOU MOVE THE STOP TO BREAKEVEN,NOT BEFORE).

If the alive half of the position starts to be so profitable that that the chand"surpass" the break even stop,obviously,you move the stops again to the chand to limit your risk while trying to ride a trend (on half a position)

Please be so kind to read the rules of post 193 again,if you feel like doing so,and then decide which one of the 3 TP options you want to chose.Hopefully we will have members posting the 3 different choices..and we will be able to compare them and learn.

Will try to post any interesting(at least for me ) comments after the London open.

Thanks again for the time you are dedicating and for the interest you are showing.

Simba

 

Thanks zathar for the indicator

zathar:
Here's a MultiTimeFrame version of the ChandelierStops which you can attach directly to the 5min chart, so no need to keep 2 charts open. You'll still need the original indicator. It's hard coded to use 60min timeframe. Be careful if you use it and make sure you understand MTF concepts. Even if you have a bar penetrate and close below/above the line, it does not mean an automatic exit, and the line WILL NOT change side right away. It will only change if the HIGHER time frame bar (60 mins here, or every 12th bar on the 5min chart) closes above/below. It will then "repaint" the previous hour, moving the stop to the opposide side. Hope that made sense, off to sleep now

Dear Zathar,

Thanks a lot for this indicator,will be extremely useful to keep us in "one screen" mode,simplifying management of trades..

Regards

Simba

 

Hi Simba,

Reading somewhere halfway this thread, I want to express my esteem for your work to make all these efforts. It is a very interesting lecture and the basics are sound and robust. I became disappointed by some unpolite posts you received and that's why I wanted to express my respect for your endeavour at this moment. I will get back to you with remaining questions, when I have finished reading everything.

For the moment : a small question about something that was not clear for me : Do you trade on Fridays or do you not trade on Fridays ? As far as I understood, you do not trade. Is that right ?

Regards,

Vivaldi.

Amsterdam

Netherlands

 

The alert for %R needs to be corrected, it was sending alerts less than every 5 minutes this evening.

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