100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 57
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Hi Joesmore ,
So what the time of the day we should not trade ? Thanks '
cheerskhookoon,
It depends on were you live. I live in the western US so I trade NY time.
London is the best time.
In each trading day there are slow times. The market is always changing in each session.
If I were running an EA for these TSU's I would look at the history for ever week or two and see were the slow times are and adjust my time to that. I would also check it ever week after that to make sure I get the best probability of the biggest moves. I know I will miss out on some good trades but I'm hoping to miss more of the bad slow movements.
JS
For those running the THV indicator, have you found
the arrow signals on the thin trix line to be accurate,
or is it better to wait for the thick line to change color?
RobChicagoRob,
Pay no attention to the arrows. They are not accurate.
JS
Joesmoe, thanks for putting up all these for us (especially newbie like me) to learn a few things for trading under a positive and warm enviroment. I can see that you have such a good heart share without asking for anything, I am sure plenty of us would appreciate it from the bottom of our heart.
I have finally finish all the post in the past 4 days, it took so long cause I have been trying different setup along the way, of course I win some and lose some, the most important is there are also quite many good people here willing to chip in as well so that I can be more understand how's the whole picture look like. Hopefully one day I have enough knowledge to input some ideas.
Again, thank you very much for such a good thread. I wish this thread will keep going and going.
JayJay,
Thank you for the kind words.
JS
Hi,
Just to make sure, do we have to wait for candles to close before entering with TSU #3? Like if there's a #3 on 15min wait for candle closing to confirm, watch for ADX to cross when candle closes on 5min and enter the trade when candle closes on the cross of SMA100 1min?
I would wait for the candles to close on both the adx and the sma100 1min. When you get better at it you can decide to not wait.
Also, what would be the best SL and TP for TSU#3? I get the feeling that 5-10 pips profit is not uncommon with this method. So I suppose 10 pips SL would be appropriate then? This is up to you. Everyones Money Management is different. You will have to spend the time reading through the thread and taking some of the ideas for MM and see what might fit you.
Have you tried another SMA like 50? It looks like it would give earlier entries and therefore more pips to grab. I have not and I'm not looking for the earlier entries. I'm looking for accurate entries or less false entries.
Sorry if everything already answered, but thread is getting big and I thought it would be easier to go directly to the source.
Thanks.
ChamaneThanks for your questions. Hope this helps
JS
Haven't gone forward with this, yet, but I've seen
some great trades on my charts with this SU. I
like the idea of price blowing through S/R, since
is usually brings along some nice momentum.
Thanks for this ultra-simple KISS system.
RobChicagoRob,
Thanks for your kind words. Let me know if there is anything I can do to help you.
JS
Tsu#4 example trade
Here is an example of a trade.
JS
Just to add
Just to add once a S/R line is drawn the pending orders are set for every daily candle until new one is drawn. As you can see from the chart joesmoe drew, the previous day would have been a loss because it triggered the order and turned around to hit the stop.
However the day the arrow is pointed at you would have hit your target or at least taken a profit rather than a loss.
Just to add once a S/R line is drawn the pending orders are set for every daily candle until new one is drawn. As you can see from the chart joesmoe drew, the previous day would have been a loss because it triggered the order and turned around to hit the stop. However the day the arrow is pointed at you would have hit your target or at least taken a profit rather than a loss.
bh4v1k,
It would not have been a loss with different money managment. If someone did a 1 to 1 MM. That would have been a profit. It all depends on your personal Money Management.
Thanks,
JS
...
Yep it all comes down to what you feel comfortable doing. Obviously with a 1 to 1 ratio the strategy must have a good hit rate.
bh4v1k
Regarding latest TSU
Hi Joesmoe,
Done some forward testing using a simulator and found the S/R lines change alot so looking at it by back testing is not reliable! it plots different lines constantly which causes pending orders to open and close in a loss.
Maybe we should do this using your own drawn S/R lines as the indicator isnt much use?
Bh4v1k