MT4 30 pips system - page 21
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About closing...
2 jpsdyb
If you trade with the direction of MACD, when you decide to close floating positions?
jpsdyb, thank you for sharing your experience.
How do you think about that settig range high and range low, and calculate lot size from it and If price gose out of range, close all postions?
thanks
EDIT: I think one of the keys to success of this system is WHEN/HOW to STOP trading. If I FORTUNATELY stop opening new orders at the bottom of the range and it turns up to the top of the range, I would lose nothing. Just taking profit. But unfortunately it continues to go down, I would lose everything. Then I think the rules when/how to start and stop trading is very important. What do you think guys?
2 jpsdyb If you trade with the direction of MACD, when you decide to close floating positions?
I don't close losers. Well sometimes I do, it depends on my account size, but if I close losers, I could be taken unnecessary losses. I still use the idea of a retracing market, but don't grab retracable orders until the market says it's time. In otherwords, I am not grabbing sells, until MACD crosses 0 triggering that it's time. This keeps margin higher and eliminates the opening of uncessary orders by using MACD or something else as a way to filter trades.
jpsdyb, thank you for sharing your experience.
How do you think about that settig range high and range low, and calculate lot size from it and If price gose out of range, close all postions?
thanks
EDIT: I think one of the keys to success of this system is WHEN/HOW to STOP trading. If I FORTUNATELY stop opening new orders at the bottom of the range and it turns up to the top of the range, I would lose nothing. Just taking profit. But unfortunately it continues to go down, I would lose everything. Then I think the rules when/how to start and stop trading is very important. What do you think guys?I could not agree more on when to start when to stop. Please let me know if you find an idea for this...as this would really help our trading grab more profits, and sooner.
As far as setting a grid high and grid low...I have done that too. Many times with huge success, but also many times with out. See it like this: If I grab buys only above 1.2700 and sells below...market could zig zag back and forth...going nowhere. Now the time and range it takes to build more buys to overtake your sells or vice versa has become larger making it harder to achieve. Should you grab say 10 buys above 1.2700 and then market goes below and opens 10 sells, then returns to 1.2700. This can create double negatives on both sides. Does this make sense??
Take a look at this picture from another Excel chart:
I could not agree more on when to start when to stop. Please let me know if you find an idea for this...as this would really help our trading grab more profits, and sooner.
No idea yet:p
ranging v's trending markets
I have been reading the posts above and a thought came to my mind ... what do you guys think about bollinger bands on a longer term scale (daily if not more).
If the bands are diverging that means that the market will break out and will trend for a while ...
If the bands are converging that means that the market be consolidating, ranging for a while.
Pick your range for the next phase of market consolidation by the upper and lower ranges of the bollinger bands to get an estimation of the possible price range that you may be working with.
What do you guys think ... does this sound plausible? silly?
I could not agree more on when to start when to stop. Please let me know if you find an idea for this...as this would really help our trading grab more profits, and sooner.
umm...One who could tell WHEN to start when to stop must be a good trend follower.
So if good trend followers or systems don't work, it's time for this system.
What do you think?
...what do you guys think about bollinger bands on a longer term scale (daily if not more).
If the bands are diverging that means that the market will break out and will trend for a while ...
If the bands are converging that means that the market be consolidating, ranging for a while.This could definately help, I have actually looked at BB bands on a daily in the past...but for me the problem was entries did not occur often enough "for me". There could be value to using them.
umm...One who could tell WHEN to start when to stop must be a good trend follower.
So if good trend followers or systems don't work, it's time for this system.
What do you think?Actually with this system and with most grid systems (grid highs/grid lows, etc.) we do not have to look for a trend. All we need to know is that the market is getting ready to move, and move a lot. It can go up or down. Look at when the market reaches resistance. It can turn and reverse right there, no longer following the original trend, but we can profit on a move like that. News comes to thought for catching big moves, but news can be hard to execute trades, spread widens, and news can create fake outs.
Anyone know what happened to the creator of this thread? Haven't seen this person post any comments lately...and I was hoping someone would step in and "prove" that I am wrong. My apologizes, but I love debating on this topic. If you have the time look at our Grid thread on strategybuildersfx. There is also a good one regarding BB Bands on daily charts. Type BB Gun in the search box
Have you tried AMA? If so, what is your opinion.
BTW, this method doesn't have entry/exit rule but just ordering rules, does it?.
If you have the time look at our Grid thread on strategybuildersfx. There is also a good one regarding BB Bands on daily charts. Type BB Gun in the search box
OK.
B.) trade in the direction of the trend, If MACD reads up, buy orders. If MACD reads down "then" place the sell orders. Had I done this in April 2006, my account would still be around.
After this words I decided that grid trading is kind of trend system, where you don't try to hold the position until trend ends. You just take your profit and place new order in the same direction.
But, after this words:
Actually with this system and with most grid systems (grid highs/grid lows, etc.) we do not have to look for a trend.
I feel surprised. If all grid systems don't follow trend, for what we need MACD?
So, what is the grid trading, please clarify: do I put 2 orders in opposite directions or must identity some trend and put position according to the trend.
Some grid systems use trending , others use ranging, and some use a divider for buys above and sells below. So MACD is if you are interested in a trending system. The author of this thread mentioned buying and selling at the same time every X pips...which in a short time will blow up your account. This is why I mentioned the use of MACD.
EDIT: Here's what I am getting at by not having to follow...or actually I should of said "look" for a trend. If we were to use a grid high/grid low approach we could profit hugely if we set this up in front of a big move. The other way trading in the direction of MACD again in front of a huge move, would allow only a small amount of losers or none at all as we took the huge move for a ride. You really need to look at the EA and read the threads, as it can be complex to describe in detail.