pauli79 Posted August 5, 2010 Report Share Posted August 5, 2010 This is why we must determine our SL and TP............ I dont like much the idea to use S & R............ http://i600.photobucket.com/albums/tt90/RoelsMajor/5Agustus2010-1.jpg Hey Roels.Read the manual on page 5 he says go for a target of 100pips with a 'mental' stop loss.He also says close the trade if it goes back in the channel...best to read the whole pdf to get the idea. He doesnt mention S and R,I mentioned it as a means of keeping you out of a trade if the trigger candle was anywhere near major S and R.Indicators wont tell you this but if you are happy using them then fine.I personally dont use any apart from pivs. and fibs. Quote Link to comment Share on other sites More sharing options...
Roels Major Posted August 5, 2010 Report Share Posted August 5, 2010 (edited) http://i600.photobucket.com/albums/tt90/RoelsMajor/5Agustus2010CandleSetupExtra.jpg Modified order to use no TP after SL "mentally 30 Pips".......... According to candle in H4 trend is up.... See how is it going..................... Edited August 5, 2010 by Roels Major Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
chrisbenjy Posted August 5, 2010 Report Share Posted August 5, 2010 Did anyone trade this on G/J breakout today? I got stopped out, but the golden variety indicator would have prevented me from making the trade, so I am going to start using it again. http://img204.imageshack.us/img204/5205/falsebreakout.jpg Also, can anyone give any feedback on whether my channel is ok? Usually I would not draw parallel trend lines, but due to the large peak, which would have caused the trend line to be very steep, I decided to just copy the lower trend line. Also, is that trade ok or would you not have traded? Chris Quote Link to comment Share on other sites More sharing options...
synergy Posted August 5, 2010 Report Share Posted August 5, 2010 Chris, This is my trendline, no trade day. http://i914.photobucket.com/albums/ac343/kampungkid/FX/GJ.jpg Quote Link to comment Share on other sites More sharing options...
kraven Posted August 5, 2010 Report Share Posted August 5, 2010 chris i would not have drawn top trend line. you have no points to connect within grey area. i would have used straight line at the top of the highest candle in grey zone. it's not always possible to have parallel lines so don't just make them. that would have kept you out of false breakout. Quote Link to comment Share on other sites More sharing options...
chrisbenjy Posted August 5, 2010 Report Share Posted August 5, 2010 OK thanks guys, I will learn from my errors. Chris Quote Link to comment Share on other sites More sharing options...
superfx Posted August 6, 2010 Author Report Share Posted August 6, 2010 http://img442.imageshack.us/img442/7314/59931924.jpg Yesterday, TP 30pip the limit. But it worked. guys, when I walk into a trade, then put 0 SL when I reach a profit. Just to avoid losses in my account Another thing: I have noticed that many are using this strategy in the GU pair From the start, said that the strategy used was that of the Optimum Channel, so there makes it explained that the pair is used GJ Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 6, 2010 Report Share Posted August 6, 2010 Well the 0600 BO is underway... http://i914.photobucket.com/albums/ac341/freddieforII/Chan0608.jpg As usual 0600 in yellow. Only one close outside... Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 6, 2010 Report Share Posted August 6, 2010 I have had an interesting week following this idea but I am wondering more and more, what is so special? I love simplicity, wouldn't a six oclock one hour bar breakout be as good? Look at this, this morning's 5-6 range and breakout: http://i914.photobucket.com/albums/ac341/freddieforII/ChanAlt15.jpg It hit 30 on the red bar... Not decrying the system here but this may well be my last post, it has not impressed me. Freddie Quote Link to comment Share on other sites More sharing options...
synergy Posted August 6, 2010 Report Share Posted August 6, 2010 Freddie, My take on this system is it builds in a safety mechanism to reduce false or weak breakouts. No doubt it will cause missing out some good harvest, but on the overall, it is a good system in terms of preventing damage to your account. It is not a perfect system in milking pips, but is a slow and steady system towards its goal. It is a good system, but not a suits all system, anyway there is no single system that will suit all. Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 6, 2010 Report Share Posted August 6, 2010 Freddie, My take on this system is it builds in a safety mechanism to reduce false or weak breakouts. No doubt it will cause missing out some good harvest, but on the overall, it is a good system in terms of preventing damage to your account. It is not a perfect system in milking pips, but is a slow and steady system towards its goal. It is a good system, but not a suits all system, anyway there is no single system that will suit all. Absolutly Syn, I agree with you. I do not decry it at all. Freddie Quote Link to comment Share on other sites More sharing options...
Roels Major Posted August 6, 2010 Report Share Posted August 6, 2010 (edited) Another thing: I have noticed that many are using this strategy in the GU pair From the start, said that the strategy used was that of the Optimum Channel, so there makes it explained that the pair is used GJ Yap...it is right superfx....but we need more data on Gbp-Usd....just give it chance to try..no gain no pain..and the author just said that why change if you found something works......but he never meant that the system can not use on other pair............he just have not tested it on another pair....and spread on Gbp-Jpy in my broker just not make it simple..he..he sometimes range from 7 to 9......... Edited August 6, 2010 by Roels Major Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 6, 2010 Report Share Posted August 6, 2010 (edited) The Latest Chart GU this weeks : http://i600.photobucket.com/albums/tt90/RoelsMajor/6Agustus2010.jpg http://i600.photobucket.com/albums/tt90/RoelsMajor/6Agustus2010CandleSetup.jpg Edited August 8, 2010 by Roels Major Adding more picture......... Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 9, 2010 Report Share Posted August 9, 2010 This is the practical weeks......... Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
synergy Posted August 9, 2010 Report Share Posted August 9, 2010 Waiting for it to break 136.424 support line. Quote Link to comment Share on other sites More sharing options...
Roels Major Posted August 9, 2010 Report Share Posted August 9, 2010 http://i600.photobucket.com/albums/tt90/RoelsMajor/NewPicture-1.jpg Am i right? Please give some feedback for GU guys.... Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 10, 2010 Report Share Posted August 10, 2010 Short Trade GU Opened at 1.57688 TP : 1.57188 SL : 1.57988 Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
pardy Posted August 10, 2010 Report Share Posted August 10, 2010 Short Trade GU Opened at 1.57688 TP : 1.57188 SL : 1.57988 What box times are u using for this trade? thanks Quote Link to comment Share on other sites More sharing options...
aoc Posted August 10, 2010 Report Share Posted August 10, 2010 Short Trade GU Opened at 1.57688 TP : 1.57188 SL : 1.57988 1.57688? the price is bit out. please check Quote Link to comment Share on other sites More sharing options...
Yorgo Posted August 11, 2010 Report Share Posted August 11, 2010 Interesting thread, i would test on Usd Jpy i think he have possibilities for some pips ! http://img412.imageshack.us/img412/3352/usdjpy11082010.jpg Quote Link to comment Share on other sites More sharing options...
Yorgo Posted August 11, 2010 Report Share Posted August 11, 2010 So "Roels Major" what is your indi in the right high corner ? Possible to share it please ? Thanks per advance Quote Link to comment Share on other sites More sharing options...
Roels Major Posted August 11, 2010 Report Share Posted August 11, 2010 So "Roels Major" what is your indi in the right high corner ? Possible to share it please ? Thanks per advance !_rdb_MarketPrice_v9.ex4 You can find it here at indo investasi...i forgot the thread..but it will be some packet indies share by rdb... I just using it sometime...before enter the trade...after that i remove it.... Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 11, 2010 Report Share Posted August 11, 2010 What box times are u using for this trade? thanks Using i paramount indies set from 00.00 to 08.00........so this is 8 hours tunnel.... Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 11, 2010 Report Share Posted August 11, 2010 (edited) 1.57688? the price is bit out. please check Yap..cause requote issues....i wanted to open soon after bearish candle closed outside the channel Better we wait until the candle closed after it brakes the channel... http://i600.photobucket.com/albums/tt90/RoelsMajor/10Agustus50pips.jpg Edited August 11, 2010 by Roels Major Adding picture................ Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
Roels Major Posted August 11, 2010 Report Share Posted August 11, 2010 (edited) Update for GU This weeks (strategy modified as TP : 50 pips and SL : 30 pips) Monday : +50 pips Tuesday : +50 pips Wednesday : +50 pips +50 pips is enough for a day.................... The whole secret of a successful life is to find out what it is one's destiny to do, and then do it. -HENRY FORD- Edited August 11, 2010 by Roels Major Quote "You Ain't Seen Nothing Yet!". Link to comment Share on other sites More sharing options...
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