100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 47

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price and 200ema is far apart. look for revesal times .london open close, ny open close. look back at 200ema on 1min charts .will crooss 2or3 times a day.i like eur/us only.add joesmoes system.tagets back to 200ema..everyone trades long above 200ema and short below.i am going against the norm.

 

Ist Live trade

Joesmo

I placed my first live trade after backtesting and demo.

Would you believe it, EURJPY appeared at the 3 with resistance at 130.48, MACD at the top and then moving down entered (sell) at 130.28 (should have entered about 130.03 but it was late at night for me (in OZ) on Friday night so I waited till Monday morning and got in at a better price).

BUT the price continued to rise and 3 REPAINTED but I had set the SL at the resistance of 130.48 and was stopped out. Price is now at 130.81 and rising.

The question is do I get in again? and when?

If I took the trade and the stop was 100 pips away and the 3 repainted and the price went up, and the MACD turned back up, would I stay in reagrdless (ie until you hit the stop).

This is a difficult one because the 3 has repainted twice but the MACD has NOT fallen. Because I am out I will wait for the 3 to finish repainting and THE MACD moves down then get back in. BUT what if I let it go to 100 pips????

The question is what do you do because I see from your trades that your stops are sometimes +100 pips?

Thanks for your time.

 

Happyyyyyyy

i spend my time in thing that did have value , this forum is the of the best thnks guys for keep this alive and especially to you joesmoe , somebody whit a special feelings, thanks

 

Trade Losses

So far today I have lost 4 trades

GY, EY (2), AUDCAD and the reason was repainting of the 3.

In all cases the MACD reached a peak then dropped however, a couple of hours later the trade reversed after being no more than 10 pips in profit and went up through the resistance level created by the #3 and then in the next 1 hr bar the #3 repaints higher so I am out.

If I placed the SL higher than the #3 I can get the #3 repainting how many times, I could simply wait a 100 pips and lose or alternately I am still in the trade but 100pips in the red so I have got a long way to go to make a profit.

Any input would be useful because losing SUCKS.

PS being in Australia, I trade the Asian and London session and sleep through the NY session.

 

Losing Trades

I have finished for the day and on a losing note.

Added to the previous losses I have lost twice on the GY at 1700 & 2100hrs eastern and the price is still going up. In both cases the MACD was going down from a peak and the #3 appeared.

Even now the GY is continuing to gain strength....so I am obviously not sure how to trade this method. Too many false starts.

 

joesmoes ,i like adx, this better than macd, thanks ,very powerfull stuff. dont want keep looking for more .your sr lines and adx,does the trick.god bless.

 

Alert indicator

Greetings JS...

It's been awhile since I've posted to the TSD forum.

I found myself in your thread and very much like the spirit here and your "family" of traders.

I have found your insight and use/understanding of the S/R thresholds helpful

to my own trading style. Thank you so much!

As a contribution I offer an indicator that some may find useful.

It is theATM Alert. (not sure what the ATM is for.... I think if I remember it was part of a "group" of indicators.

Anyway... it's NOT calculating anything..... simply auto triggers a .wav file alert whenever the current price trips it.

It is merely a price alert at your fingertips .... that's all.)

It is very simple. It is a "drag and set" alert that appears on all tf's.

The way I use it is to drag it to either the S or R in a 1 hour tf and then "fine tune" it by going to smaller tf's

Then I just put it at what would seem the most likely/appropriate tf threshold to moniter for a breakout.

You can then check MACD or ADX or RSI / Stoch etc. for your confirmations at the point of "alert".

You can place as many of these alerts as you want into a single chart.

(update:MT4 will only allow 1 atm alert per chart.. but I do have a separate HI and a LO set of "channel" alerts

in case someone wants to have those..... they work the same way).

I use just one.

in the direction of the trend.... if it doesn't get "tripped".... then you don't REALLY know the current trend... do you? (heh heh )

I take that back... sometimesI use 2... IF

the price action is trapped ..... then I use them like a "box" channel on the 5min to moniter for a break out.

Once it finally breaks out, then I just drag the unneeded alert to the bottom of the chart somewhere to keep handy for another time.

Oh yeah... I use both on the larger 5min pennant formations to play the reversals like we had today on the GBPJPY starting @ 7:45AM Forum time (GMT-7).

Also,

Once you setit to the threshold in your "chosen" tf.....

you can flip to other tf's and easilysee how it relates to the othertf S and R's ahead of it's direction.

Also,

Once it trips, you can move it to the next... and so on.

or LEAVEit.... as insurance against a reversal.

I enclose the .wav file as well (if needed, drop into your Sounds folder) as "she" has a nice "treckie" voice Good luck to all here as JS has given us some great insight.

Cheers!

Goldenequity

Files:
chartalert.zip  31 kb
 

thanks Goldenequityeasier trading

 
goldenequity:
Greetings JS...

It's been awhile since I've posted to the TSD forum.

I found myself in your thread and very much like the spirit here and your "family" of traders.

I have found your insight and use/understanding of the S/R thresholds helpful

to my own trading style. Thank you so much!

As a contribution I offer an indicator that some may find useful.

It is theATM Alert. (not sure what the ATM is for.... I think if I remember it was part of a "group" of indicators.

Anyway... it's NOT calculating anything..... simply auto triggers a .wav file alert whenever the current price trips it.

It is merely a price alert at your fingertips .... that's all.)

It is very simple. It is a "drag and set" alert that appears on all tf's.

The way I use it is to drag it to either the S or R in a 1 hour tf and then "fine tune" it by going to smaller tf's

Then I just put it at what would seem the most likely/appropriate tf threshold to moniter for a breakout.

You can then check MACD or ADX or RSI / Stoch etc. for your confirmations at the point of "alert".

You can place as many of these alerts as you want into a single chart.

(update:MT4 will only allow 1 atm alert per chart.. but I do have a separate HI and a LO set of "channel" alerts

in case someone wants to have those..... they work the same way).

I use just one.

in the direction of the trend.... if it doesn't get "tripped".... then you don't REALLY know the current trend... do you? (heh heh )

I take that back...

sometimesI use 2... IF

the price action is trapped ..... then I use them like a "box" channel on the 5min to moniter for a break out.

Once it finally breaks out, then I just drag the unneeded alert to the bottom of the chart somewhere to keep handy for another time.

Oh yeah... I use both on the larger 5min pennant formations to play the reversals like we had today on the GBPJPY starting @ 7:45AM Forum time (GMT-7).

Also,

Once you setit to the threshold in your "chosen" tf.....

you can flip to other tf's and easilysee how it relates to the othertf S and R's ahead of it's direction.

Also,

Once it trips, you can move it to the next... and so on.

or LEAVEit.... as insurance against a reversal.

I enclose the .wav file as well (if needed, drop into your Sounds folder) as "she" has a nice "treckie" voice

Good luck to all here as JS has given us some great insight.

Cheers!

Goldenequity

Goldenequity,

Thanks for sharing your TSU with us.

Everyone lets get some feed back on how well this works for you all. If you have tested it come back and let us know how you do.

Thanks again for sharing,

JS

 
elijahsmithklime:
Well they are nothing special, i used stochastics 14,3,3 with ToR (which i downloaded from forex tds to know if the current trend that i am following is valid) in conjunction with your S/R. Then i used 4hrs and 1hr charts to confirm the current trend, then i buy/sell when the price reaches the support or ressistance level on the 1hr charts (in relation to the major trend, which in the case of the chart i posted early, was an uptrend) using the 14,3,3 stochastics as my oscillator and i used 15pips trailing stops with 40-50pips stop loss.

elijahsmithklime,

Thanks for sharing.

If anyone adds this and thinks it is helpfull let us know.

Thanks,

JS

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