Eurjpy In and Out Scalping. - page 3
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Thanks Dav,
What's about this rule:
3) If you have a losing trades do not enter the next trade within the same 10 pips of price as the previous one.
Should we avoid the entrance price +- 10 pips or price where the trade was stopped? Or may be both 10 pips above the max of two and below the min?
+- 10 pips from the price entry of the losing trade. This applies in the case where a new entry is formed in the same 10 pip range as the previous losing one. This rule can help you stay out of ranging conditions where the price moves back and forth in the same 20 pips
Also, don't you think that 8 pips ATR is too wide filter for 1 min TF?
Sorry, I'm not sure I understood the question, are you reffering to the ATR 0.800 level?
WookeyGood Luck & Happy Trading
This morning we had another good entry at 8:08 GMT at 162.40 and exit at 162.59 giving 19 pips profit. Just take in mind that this is only the beginning of the day!
Thanks again Dav,
Yes I meant ATR. You wrote 0.80, for EURJPY it's 80 pips range, too wide for 1 min bars. I'd say it should be 0.08 and even that is not small.
Does any rule apply to filter such trade as on screenshot?
I have a suggestion, instead of using a fixed level for FX Sniper's CCI, use variable depending on volatility. For instance: Allow new shorts if it retraced 20% of the previous high. If the previous high was 290 we allow shorts when it decreased to 232.
Wookey.
could you please post your last trade screenshot?
Thanks again Dav,
Yes I meant ATR. You wrote 0.80, for EURJPY it's 80 pips range, too wide for 1 min bars. I'd say it should be 0.08 and even that is not small.
Does any rule apply to filter such trade as on screenshot?
I have a suggestion, instead of using a fixed level for FX Sniper's CCI, use variable depending on volatility. For instance: Allow new shorts if it retraced 20% of the previous high. If the previous high was 290 we allow shorts when it decreased to 232.
Wookey.Before I study and reply to your suggestions let me first comment that the screen shot you show from Aug 3 perhaps should not have been traded, because the top was 163.37 and your entry is at 163.22 15 pips. Please note when it was 163.23 price was still above the SDL.
could you please post your last trade screenshot?
My screenshot should look no different then the one I provided.
As for the trade that is still unfolding from 9:41 at 162.64 we were almost stopped out but we should have exited at about 162.58 since it came back the 3rd time to our profit position.
Thanks again Dav,
Yes I meant ATR. You wrote 0.80, for EURJPY it's 80 pips range, too wide for 1 min bars. I'd say it should be 0.08 and even that is not small.
You are correct about that, it should be 0.0800 I'll fix it in the first post (that was a typo)
Does any rule apply to filter such trade as on screenshot?
That trade perhaps should not have been taken as I explained, but in the worst case you took it you would be out at 15:34 bar at 163.35 when the fx sniper reached over the 120 level and the AO was in plus with a loss of about 12 pips, not too bad.
I have a suggestion, instead of using a fixed level for FX Sniper's CCI, use variable depending on volatility. For instance: Allow new shorts if, it retraced 20% of the previous high. If the previous high was 290 we allow shorts when it decreased to 232.
Yes, it looks like a worth while suggestion to study and backtest, but in the case of that trade I don't see how it I would have helped you b/c it had retraced already more then 50%. Nonetheless it's still a suggestion to consider
Wookey.My answers are in bold.
As we see in the last 2 hours eurjpy is ranging in a 25 pips tight range, I would stay away from it now, but I'm not sure that any of the filters are adequately in place to address this kind of a problem, although very close, any suggestions?
As the eurjpy was sitting I went over to the GBP to see how this system would fair, what a surprise! today's moves would have given me 200+ pips check it out!
I admit this might be rather an unusual case for the GU but you see what this system can handle! DD on this system should not be a great deal by the look of it. I believe an EA can outperform the STEINITZ EA, IMHO. Do we need to say more! By the looks of it, it seems that we can reach 400+ pips by the end of day