100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 48
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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.stephan13,
Please put up a picture were you got in and were it repainted and I will see what I can do to answer your question.
JS
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.As i have mention in my last post, be very very careful in strong trending mkt because 3 ball repaints a lot. Histogram will have several higher peaks.
I would look at the daily chart to ascertain the bigger trend and if 3 ball is counter trend in the 4 hrly or 1 hrly, I will be more careful about taking that trade.
Good example is the AUDUSD recently. Strong upward trend on daily with nice double bottom forming. But if you look at the 1 hrly and 4 hrly, Level high ball 3 repaints so many times and if you take those trades, the profit is marginal versus the upside risk and you would been stop out 9 out of 10 times.
The whole major move is more than 400 pips from 0.6600 to 0.7000. Shorting from 0.6600 all the way to 0.7000 is going to kill you.
I look at major trend on daily and weekly chart first. If signals from ball 3 is in line with the trend, I take those trades. If its counter trend, will have to be cautious.
Thanks PTAN
As i have mention in my last post, be very very careful in strong trending mkt because 3 ball repaints a lot. Histogram will have several higher peaks.
I would look at the daily chart to ascertain the bigger trend and if 3 ball is counter trend in the 4 hrly or 1 hrly, I will be more careful about taking that trade.
Good example is the AUDUSD recently. Strong upward trend on daily with nice double bottom forming. But if you look at the 1 hrly and 4 hrly, Level high ball 3 repaints so many times and if you take those trades, the profit is marginal versus the upside risk and you would been stop out 9 out of 10 times.
The whole major move is more than 400 pips from 0.6600 to 0.7000. Shorting from 0.6600 all the way to 0.7000 is going to kill you.
I look at major trend on daily and weekly chart first. If signals from ball 3 is in line with the trend, I take those trades. If its counter trend, will have to be cautious.Thanks, that's exactly what I decided to do .....go with the longer term trend. I focus on 4hr and daily charts for direction and then look for the #3 .
Again, thanks
Posting a Picture response
stephan13,
Please put up a picture were you got in and were it repainted and I will see what I can do to answer your question.
JSSorry, I have no idea how to first copy the Meta Trader chart and then show you.
But thanks for the response
Sorry, I have no idea how to first copy the Meta Trader chart and then show you. But thanks for the response
stephan13,
At the top of your computer keyboard were you see F1-F12 You will aslo see a button that says
PrtSc
Sys Req
Push the Ctrl key at the bottom left of your keyboard under the Shift key. Hold the Ctrl key and then push the PrtSc Sys Reg.
Open a Micosoft Word, right click and go to paste. The picture appear there. Save the document and then upload it here.
Hope that made sense.
JS
question ADX VS Macd
Hi! I've been reading the thread and I am trying to understand the system. I noticed some use MACD and some use ADX. Is there really any difference between the two? Thanks for your help
How about to do it the oposite way?
Your method is very interesting. Ive found it just today and tried it on live account and it really seems promissing, though I have a question for you. There are only few opportunities a day (thats probably why you recommend trading as many pair as possible), so how about to do it the oposite way? Trade between S/R lines (from one to another) and use breaking of them + MACD as a signal to stop trading between the two lines? This may sound ridiculous and I appologize if it does, but I would really love to hear someones opinion on this one. It would basically mean you can trade the whole day through and have only couple of stops (you know, the whole thing reversed...).
Thanks.
Traderlarry,
Delete the 3 Level and try this one and let me know what happens.
JSSo on the 123 indicator you only open on the three
Thanks
Need help to finish scalping system
Hey guys I need some help with a small EA.
It's for a scalping system that I'm putting together for us.
It's the THV indicator.
I need to be able to turn it off and on when I want and to also tell which direction I want it to go. So to be able to turn that on and off as well.
Does anyone want to help with this. Should be a great scalping system when it's complete.
JS
hi,
joesmoe,i want you to know that i appreciate your work more than anything.though i dont have solution to what you are asking for i just want you to know that you have golden heart and that God will reward your effort.i have gained immensely from your posting.i will always keep in touch