100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 23
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A couple of false signals this morning with system #2, although AUD/CHF is not done yet. I suppose the only thing to do is to wait and tighten our stop loss.
Chamane
Actually, I lost my trade on AUD/CHF and #3 ball went a few bars to the right.
Chamane
A couple of false signals this morning with system #2, although AUD/CHF is not done yet. I suppose the only thing to do is to wait and tighten our stop loss. Chamane
Chamane,
I like to wait alot of times tell the 3rd reverse bar on MacD. I wait tell 2 close then then when the 3rd starts I see if its going the direction I'm looking for. I then take the trade.
You can also move to a lower time frame like a 5 minute chart and watch for a S/R to be broken in the direction you want it to go.
This might be helpfull in taking a better entry and might keep you out of some of the false entries.
JS
Chamane,
I like to wait alot of times tell the 3rd reverse bar on MacD. I wait tell 2 close then then when the 3rd starts I see if its going the direction I'm looking for. I then take the trade.
You can also move to a lower time frame like a 5 minute chart and watch for a S/R to be broken in the direction you want it to go.
This might be helpfull in taking a better entry and might keep you out of some of the false entries.
JSThanks for the advice. I thought waiting too much would lead to the end of a move, specially if MACD peaks are low.
To filter out entries, would it be better to check for overall trend on higher timeframes and then take only signals going in the same direction? I forgot to check for CCI; it would have given me a good hint (see pic).
I enclosed a tool that shows 1ATR, 2ATR and 3ATR around prices (see pic). It can be useful to establish stop losses and profit levels.
Chamane
Results
Does anyone have any results to post for system #1 I am curious how everyone is doing with this?
Maybe could post some winnng charts and give some advise?
Thanks,
Brett
here goes a nice little templete it has s&p alerts, pivots to spot divergence, atr for stops and targets, and a few extra things
here goes a nice little templete it has s&p alerts, pivots to spot divergence, atr for stops and targets, and a few extra things
here is the rest
Last 4 days have been sideways
Who else is sick of the sideways market. Looks like it should be moving somewhere soon.
Just been taking trades #1 on 5min today.
How is everyone else doing?
JS
Who else is sick of the sideways market. Looks like it should be moving somewhere soon.
Just been taking trades #1 on 5min today.
How is everyone else doing?
JSNot as good as I wished. I took 7 trades with system #2 (1 hr TF), won 2, lost 3, but the other 2 are showing positive figures so far. I witnessed 2 repainting ball #3 after entering trade. I suppose it doesn't happen often on 1 hr charts. I don't like that very much. Now I'm working to add maybe another indicator to confirm entry signals.
Chamane
Not as good as I wished. I took 7 trades with system #2 (1 hr TF), won 2, lost 3, but the other 2 are showing positive figures so far. I witnessed 2 repainting ball #3 after entering trade. I suppose it doesn't happen often on 1 hr charts. I don't like that very much. Now I'm working to add maybe another indicator to confirm entry signals. Chamane
Chamane,
Ya it does repaint every once in a while. You see it mostly in times like these. It will eventually pick a direction and you will see the Mac D will get alot bigger and then they won't repaint as much. When its choppy and it can't decide which direction it wants to go is were you will see that happen more often. When I see this I go to Trade #1 and usually stick to GBP/USD. In time you will notice what set up to trade and when.
Thanks for sharing
JS