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Relativity
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Postby Relativity » Fri Feb 04, 2011 4:02 pm

gfg1 wrote:rel: Nice trade.

Relativity wrote:AUDUSD
Short 1.01967
SL 15 pips
TP 30 pips
RR 1:2
3 mini lots
Opened 15 mins ago, currently running at +3 pips
Update (2307 SGT) : at +15 pips
Update (2313 SGT) : halved SL, at +18 pips
Update (2328 SGT) : break even SL, at +23 pips, now free trade! moved TP to 40, will continue watching.

Decision to short reasons :
Trading off Monthly + Weekly + Daily Old Rat high reversal
Price outside x2 dev of M60 576 LWMA : reversal potential
Price slowing down the past 1 hour


Thanks! =>

I've worked very hard and results are finally showing. My main goal is now is not to blow my mini account and keep it stable. Since now I have a pretty good setup, the rest is about my physiology and making less mistakes. Past testing for the past months showed that this setup is somewhat forgiving and helps to reduce/make up for my own mistakes, bring my account back to even many times after drawdowns. If I make less mistakes, then I should really profit...

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scratty
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Postby scratty » Fri Feb 04, 2011 4:49 pm

Thinking about holding over the weekend...

Relativity wrote:
scratty wrote:Initialy the reason for my short AUDUSD is the long term FatCat on daily chart... Have you recognised it?

This trade could serve us very well if we are able to hold on to it ;-)


I am not sure about your decision. We only have 7 hours of trading left for the week. I already planned to get out on 30 pips TP because of this.

Update : moved TP to 40, will continue watching trade
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scratty
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Postby scratty » Fri Feb 04, 2011 4:52 pm

Scaled into position:
- U1
- added U1
- added U2

U4 with average price of 1.0160 SL is 1.0180... lets see ;-)
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TheRumpledOne
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Postby TheRumpledOne » Fri Feb 04, 2011 4:54 pm

Looks like the work of a YALE STUDENT!
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.

Relativity
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Postby Relativity » Fri Feb 04, 2011 4:54 pm

With Jalarupa's kind permission :

>> What time frame are you trading?
Its a bit hard to explain. But I would love to share so that we can all learn from each other. I hope to be corrected and critised at any part where I am wrong thou.

I realised what TRO said is correct. Price is really same on all timeframes. The only thing that is really different is what is the price doing according to a different timeframe. Sometimes its doing the same thing for all timeframes = price is trending/starting reversal (i think TRO is correct here), sometimes its not = price is ranging/correcting (this is where i believe Wavetop/SB has to be credited). So both of them are correct? Just that both of their trading method are constrast upon each other I suppose?

So which is the 'best' timeframe? According to my previous Pip/Time efficency research (I posted it somewhere in the forum), M15 seems to be the 'best'.

But M15 has its problems. For a long time, I combined the new Rat + SB trading on M15. Found alot of success trading demo using M5 avg range as SL and M15 as TP. But I wasn't quite happy with the results. M15 range is too small to profit on, even through I am getting very consistent results getting 5 pip profits, scaling in and scaling out. But trading like this is very tiring!

I figured I need a bigger timeframe to rely on. But I found many problems with the conventional timeframes we have on standard charting programs, mainly MT4 here. The general idea is to 'find' the timeframe that 'the entire world agrees on', so that the 'entire world moves the market'. LOL. Seems silly at first but it made sense to me later. If the world doesn't move together in agreement, how can I profit from it? (remember what TRO said about all xxxUSD pairs going down together if EURUSD is also going down?)

Tick data and M1 is too small
M5 is ok, but somewhat small according to Pip/Time Efficency
M15/M30/H1 are just nice, avoiding timezone problems, along with H1 being the best. This is why TRO saying trade according using H1 color works.
H4 and D1 inherit timezone problems. e.g A H4 candle using GMT time is obviously different from one using NY time.

Wavetop/SB kept insisting the relationship between time and price. So I started my research from here. Supposingly by accident! I was attempting to use SB + new rat on D1 candles. My demo broker was using standard GMT time candles. I placed a trade 30 mins after the new D1 candle formed + SB = gives signal + new rat = gives signal. I profited like 50 pips easy (which happened to be 1/3 of a daily candle avg range).

But I was puzzled. Why did it work? All I had to do is to remember I had success using SB + new rat on M15. If I can catch a good M15 candle easily every time it forms, why not for a D1 candle? Wow how about W1?!!! This means I had to overcome the time zone problem. Also, I had problems using the Old Rat when the standard D1 candle is still newly formed + doesn't have enough range yet. So why not try something crazy?

I tested using M15/M30/H1 as basic timeframe units. Coming up with something called Continuous Candle. Hope it makes sense :
D1 = 96 x M15 candles or 48 x M48 candles or 24 x H1 candles
W1 = 5 x 96 x M15 candles or 5 x 48 x H1 candles or 5 x 24 x H1 candles (5 trading days per week)
M1 = 24 x 96 x M15 candles or 24 x 48 x M48 candles or 24 x 24 x H1 candles (approx 24 trading days per month, overlapping over I think is fine)

Then I applied this candle's data onto the following :
Old Rat -> Daily + Weekly + Monthly
Signalbender standard
Real Time (Signalbender modified)

I also applied the same timeframe logic onto LWMA with 0.5 and 2 standard dev.

All this is worth 3 months of work. Whew!

>> Have you tried using the Continuous Candle with the other CC methods?
I quit don't understand the question... can you explain?
Last edited by Relativity on Fri Feb 04, 2011 5:04 pm, edited 1 time in total.

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scratty
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Postby scratty » Fri Feb 04, 2011 4:58 pm

you mean the holding over weekend?

TheRumpledOne wrote:Looks like the work of a YALE STUDENT!
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scratty
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Postby scratty » Fri Feb 04, 2011 5:09 pm

it looks like we are gaining momo on au... :-D
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Postby Jalarupa » Fri Feb 04, 2011 5:24 pm

>> Have you tried using the Continuous Candle with the other CC methods?
I quit don't understand the question... can you explain?

Never mind me, you explained everything beautifully thank you, I was curious how the Continuous Candle you devised measures up with the 3 & 9 CC's candle combination's on various time frames as well as the tests (pullback to Mighty Zone)...

But nevermind the question... it seems your template is multifaceted and I would be speculating on what does what and how...

What I am interested in is the shift from SB std and Real time... Which indi shows this? or is it a combination of signals? and what defines 'real time' cause I found the indi did lag a bit when I was using it to plot crossovers...
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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scratty
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Postby scratty » Fri Feb 04, 2011 5:27 pm

u r right i dont want to stay over the weekend. But still think it would be a great long term position...

Exited full position @1.0116
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Relativity
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Postby Relativity » Fri Feb 04, 2011 5:37 pm

scratty wrote:u r right i dont want to stay over the weekend. But still think it would be a great long term position...

Exited full position @1.0116


You exited perfectly. LOL! I dont dare to hold out so long; I don't trust my broker too much on fridays. Besides, I got what I want and am happy. You too =>

If I am correct, price is now slowing down and should be ending its correction based on W1/ starting reversing based on D1 around now. But we don't have too many hours left to watch....

Update : wow nice to observe this, its really reversing abit, but I don't expect too much. Maybe ATM nice for +5 T/P scalps, considering only 5 hrs of trading left.
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