Ok, I’ve gone through this thread and I’d like to summarize the method. Please let me know if I’m on track or out in left field.
For ease of discussion I’ll use my platform IBFX’s daily candle which closes at 7pm central time.
If the daily candle is red/bear, then I sell at the close price with a 10 pip limit
If the daily candle is green/bull, then I buy at the close price with a 10 pip limit.
Now you can drop down to a 60 min chart to see what the current direction is to get a better entry price and reduce your stop loss. So if the daliy candle is red but the 60 min is green, then wait until you get a ‘signal’ that the 60 is going short again and get in for your 10 pips (or more if you wish).
Another option, I think is that you can set a ‘daily candle’ 1 hour before the London open or 1 hour before the NY open. Basically for the London open, which is 3est, then you’d look at the last 24 hours from 2am est the previous day to 2am current day and compare the open/close of that 24 hours to determine if it’s bullish or bearish. If bullish then you could go long at 2 am est going for 10 pips?
This could be repeated at 7am est, 1 hour before the NY open?
I appreciate any feedback to help me comprehend this method. I love the simplicity of this.
$TRILLION STRATEGY
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Re: Summary of strategy
pipette4x wrote:Ok, I’ve gone through this thread and I’d like to summarize the method. Please let me know if I’m on track or out in left field.
For ease of discussion I’ll use my platform IBFX’s daily candle which closes at 7pm central time.
If the daily candle is red/bear, then I sell at the close price with a 10 pip limit
If the daily candle is green/bull, then I buy at the close price with a 10 pip limit.
Now you can drop down to a 60 min chart to see what the current direction is to get a better entry price and reduce your stop loss. So if the daliy candle is red but the 60 min is green, then wait until you get a ‘signal’ that the 60 is going short again and get in for your 10 pips (or more if you wish).
Another option, I think is that you can set a ‘daily candle’ 1 hour before the London open or 1 hour before the NY open. Basically for the London open, which is 3est, then you’d look at the last 24 hours from 2am est the previous day to 2am current day and compare the open/close of that 24 hours to determine if it’s bullish or bearish. If bullish then you could go long at 2 am est going for 10 pips?
This could be repeated at 7am est, 1 hour before the NY open?
I appreciate any feedback to help me comprehend this method. I love the simplicity of this.
I think you just explained it better that I do!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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TheRumpledOne wrote:Candle color and horizontal lines are all that are needed.
Hi Tro
Quick question. if yesterday's bar is bearish, you enter at the close price going short for 10 pips. do you put an entry order to go long and if so, do you use the top of the body or the wick to enter?
Another question. what are you using for stops? I've been reading some other daily methods and i'm starting to confuse them!.
thanks
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eSignal indicator?
[/quote]
$Trillon is a "strategy" but I did code an indicator for it.
I do NOT program in MT4.[/quote]
Sorry, new to the forum and just going over this thread. Question may have been answered. Went through the last eSignal motherlode and did not find an equivalent indicator. Is there an eSignal indicator for the $Trillion strategy?
Thanx,
N
$Trillon is a "strategy" but I did code an indicator for it.
I do NOT program in MT4.[/quote]
Sorry, new to the forum and just going over this thread. Question may have been answered. Went through the last eSignal motherlode and did not find an equivalent indicator. Is there an eSignal indicator for the $Trillion strategy?
Thanx,
N
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Re: eSignal indicator?
nanoty3k wrote:
$Trillon is a "strategy" but I did code an indicator for it.
I do NOT program in MT4.
Sorry, new to the forum and just going over this thread. Question may have been answered. Went through the last eSignal motherlode and did not find an equivalent indicator. Is there an eSignal indicator for the $Trillion strategy?
Thanx,
N
You can use TRO_PrevDay_OHLC.
Last edited by TheRumpledOne on Tue Feb 20, 2007 6:06 am, edited 1 time in total.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
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