# "8and8" My daily system - ebook - page 5

207

thanks dvarrin..nice explanation. i will try to enjoy..

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Looking at the daily charts of GBP/USD, AUD/USD and NZD/USD, you can really see how the ATR channel keeps us in the trend. It doesn't always work out like that of course but, when you're going with the major trend, it is a great tool to have.

For future trades, I'm keeping an eye on the USDCHF, will only get in on a short trade, looking for a cross AND a break of recent resistance at 1.1960 area. For GBPJPY, would love to see it spike to the 28EMA before heading back up but will probably take a long cross anyway. Not touching USDJPY at the moment.

Keep posting your own thoughts and keep enjoying the daily charts.

11

i still confuse how to calculate 70% stop loss by using atr

ex : if atr 0.0029 ,70% is 20

if atr 0.0129 , 70% is 90

if atr 0.1129 , 70% is 790 ------- this i confuse,how to calculate

if atr 1.1129 , 70% is ????? ---- how to calculate

kindly plz assist me....tq very much

2970
Hercs
lodol2:
hi valeofx

thanks for the chart and explanation. can you explain how you use the cci with the ema settings 28/8.

thx

If you are fimiliar with CCI-trading you will understand what I am going to say quite easily, but if not, you have a long and windy road to getting to know the CCI.

Having said that, if you look at my chart that I posted, you will notice how the 8-CCI touched the Zero-line, but never broke it - that is called Zeroline Rejection or ZLRfor short. At the same time the 28-CCI indicated that the trade was still very much in a LONG mode.This situation is an extremely important situation for those trading the CCI as after this follows usually a very strong move in the direction of the rejection, in this case LONG. (If the 28-CCI in this case did the same, the signal would have been even "stronger" for the continuation of the trade.

As everything else indicated that the market was slowing down before this, this signal confirmed that one could have stayed in the market in the first place, but if not, that you could buy on the next upward candle for the long ride.

Better than this I cannot explain it. Hope it helps.

Best wishes.

215

Hope that helps!

Michael

topgunZ:
i still confuse how to calculate 70% stop loss by using atr

ex : if atr 0.0029 ,70% is 20, 29 pips, so stop is 70% of 29 = 20 pips

if atr 0.0129 , 70% is 90 yes

if atr 0.1129 , 70% is 790 ------- this i confuse,how to calculate

there's no ATR figure lie that to my knowledge.

if atr 1.1129 , 70% is ????? ---- how to calculate this is for yen pairs - it means 111 pips (or 111.29 to be exact) so s/l is 78 pips.

kindly plz assist me....tq very much
207

hi

hello valeofx thx for explanation.yes helps....

11

michael dunbar:

Hope that helps!

Michael

thanks..!!..now it clear..

btw..is ATR 20 also can apply for 1D timeframe also?

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Look out for potential cross on GBPJPY at start of day tomorrow. Will be looking to get in on this pair at this lower price.

If stop gets hit, will look to use the Jacko @ FF anti-hedging strategy as still convinced the uptrend is intact. Will post more as it unfolds.

215

Here is an addendum to the book.

I felt it was missing some more real-life trades so here is a walkthrough, trade choices by trade choices, for GBP/USD over a period of four months.

Hope it helps.

Michael

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Michael

Thanks a lot for this method. One silly question

My indicators don't show the "parameters" window

Is there anything I need to modify??

Thanks

Astro