kraven Posted December 5, 2010 Author Report Share Posted December 5, 2010 hello all conglo i tend to just go with the indicator, as that's all it's there for the trend.....yes trends do fade but you need a crystal ball to tell when, however if you look at Chf/Jpy you'll see it has been consolidating over the last few of weeks so I've avoided it - only moved 190pips in 3 weeks(although the last 3 days have been breaking upwards) Elma/John....I'd say you have it about right, don't forget to give it a few pips more from end of candles for SL (can't tell you how many times i've been stopped out of eventual winning trades because of not adding a few pips for spread etc..).......for me on EU i've increased TP by 20-30pips (just under the candle bottom)...on UJ what you have done is right, although you can see it's stuggled to break that high (TP) all last week. Important thing here is to readjust your entry each day. Quote Link to comment Share on other sites More sharing options...
conglo Posted December 6, 2010 Report Share Posted December 6, 2010 Thanks again. Quote Link to comment Share on other sites More sharing options...
FXstoney Posted December 7, 2010 Report Share Posted December 7, 2010 Hi Guys For those of you who are still not using it, in my opinion the best EA to handle the placed trades is Quik_Trailing by Quiksilver, that can be found in this Forum. Just enter Quik_Trailing in advanced search to find it. What i like about this EA is that if you double click on your pending order, sl or tp, you can drag it to wherever you want. This is one of the best thanks to Quiksilver. Try and enjoy. Quote Link to comment Share on other sites More sharing options...
FXstoney Posted December 7, 2010 Report Share Posted December 7, 2010 Hi Guys For those of you who are not already using it, the best EA in my opinion to handle these type of trades is Quik_Trailing by Quiksilver, to be found in this Forum. Just enter Quik_Trailing in Advanced search to find it. What i like about this EA is that when you double click on a pending order, sl or tp, you can drag it to wherever you want. You can even set it to partially close trades in different ways. This is one of the best thanks to Quiksilver. Try and enjoy and dont forget to hit the thanks button. conglo and kraven 2 Quote Link to comment Share on other sites More sharing options...
kraven Posted December 7, 2010 Author Report Share Posted December 7, 2010 hey you got your first thanks FXstoney..........but really good call, i was after something like this, thanks Quote Link to comment Share on other sites More sharing options...
FXstoney Posted December 8, 2010 Report Share Posted December 8, 2010 You're welcome. Sorry for the double post but i don't know what happened when i tried to edit it. alansim 1 Quote Link to comment Share on other sites More sharing options...
verbtheory Posted December 8, 2010 Report Share Posted December 8, 2010 It's been awhile since I've posted on this forum or anywhere for that matter. You've got a gem here, Kraven. I created a system called DBS about 2 years ago and this is the missing link for it. The only issue was consolidation of trends with DBS otherwise it still is quite a profitable system. I'm lurking! :O Quik's trade manager is pretty good but I like the simplicity of this J16 Manager, you can search for it on FF. No offense Quik ol buddy. ;) Quote Link to comment Share on other sites More sharing options...
madhan1992 Posted December 9, 2010 Report Share Posted December 9, 2010 Here it is . You can set Six TP levels and In each Tp Hit it will move SL to required pips with sounds also....hehe. It is released one week ago..The latest version. TM M@n@ger E@, hxxp://[email protected]/file/UrK0y9Hp/TM_online.html FXstoney, ⭐ Tradeselect and kraven 3 Quote Link to comment Share on other sites More sharing options...
kraven Posted December 9, 2010 Author Report Share Posted December 9, 2010 glad you all like it.......please be careful though and demo first.....i definately recommend some sort of management for your trade like BE after 50% of trade (and also take 25% of lot too) etc.... verbtheory glad you started posting...i'm the same i'm active for a while then go quiet...but i get a lot out of this site, so i tend to just post here mainly...........if it complements this then can you share your DBS here? I for one would be interested madhan thanks for link Quote Link to comment Share on other sites More sharing options...
verbtheory Posted December 9, 2010 Report Share Posted December 9, 2010 Hey kraven, here's the link: http://www.forexnirvana.com/f30/verbtheorys-day-break-system-v1-0-a-549 I mainly trade price action, support & resistance and sentiment intraday, i might get back into doing daily trades as well but time is at a premium these days. The main issue i ran into with daily trades of this nature was trade management and periods of consolidation. There's plenty of ways to complicate things but I think accepting established areas of support & resistance form the the basis of SR levels for trade management, add your krapp levels and the RecentSR indicator from Hanover on FF then you might be rounded out nicely. The issue of consolidation still is an issue but trading the pullbacks in an established trend is a smart way to handle it. There's some indicators that do trending or ranging signalling like VarMA and ADX which is the only thing I'd probably add to the system. I'll try to drum up some screenshots and post them next but im in a $y trade so it might have to wait. Ciao! Quote Link to comment Share on other sites More sharing options...
john225 Posted December 9, 2010 Report Share Posted December 9, 2010 Hey kraven, here's the link: http://www.forexnirvana.com/f30/verbtheorys-day-break-system-v1-0-a-549 I mainly trade price action, support & resistance and sentiment intraday, i might get back into doing daily trades as well but time is at a premium these days. The main issue i ran into with daily trades of this nature was trade management and periods of consolidation. There's plenty of ways to complicate things but I think accepting established areas of support & resistance form the the basis of SR levels for trade management, add your krapp levels and the RecentSR indicator from Hanover on FF then you might be rounded out nicely. The issue of consolidation still is an issue but trading the pullbacks in an established trend is a smart way to handle it. There's some indicators that do trending or ranging signalling like VarMA and ADX which is the only thing I'd probably add to the system. I'll try to drum up some screenshots and post them next but im in a $y trade so it might have to wait. Ciao! Are you using the J16 method? Quote Link to comment Share on other sites More sharing options...
verbtheory Posted December 9, 2010 Report Share Posted December 9, 2010 (edited) Are you using the J16 method? Hey john, dont want to muddy kraven's thread but yes with much more objective indicators measuring levels, sentiment and trend. In actuality Jim (J16) did not create these methods, it came from Martin Pring, the original trader who coined the term "pinbar" short for Pinocchio bar. Why? Pinocchio's nose would grow every time he would lie, in the same way a pinbar's nose points in the direction it's lying about. Check out Pring's book Technical Analysis Explained for more info, covers outside bars as well. Anyway totally different scenario, I've looked through the daily charts and combined ADX for trend confirmation and I've got: USDJPY = Buy (risk reward isnt that good on this one) EURGBP = Sell GBPJPY = Buy (Maybe if ADX closes above 25, great RR here if it does) Cheers! Edited December 9, 2010 by verbtheory Quote Link to comment Share on other sites More sharing options...
kraven Posted December 9, 2010 Author Report Share Posted December 9, 2010 verbtheory don't worry about this thread.....the more idea's the better Quote Link to comment Share on other sites More sharing options...
john225 Posted December 11, 2010 Report Share Posted December 11, 2010 Hey john, dont want to muddy kraven's thread but yes with much more objective indicators measuring levels, sentiment and trend. In actuality Jim (J16) did not create these methods, it came from Martin Pring, the original trader who coined the term "pinbar" short for Pinocchio bar. Why? Pinocchio's nose would grow every time he would lie, in the same way a pinbar's nose points in the direction it's lying about. Check out Pring's book Technical Analysis Explained for more info, covers outside bars as well. Anyway totally different scenario, I've looked through the daily charts and combined ADX for trend confirmation and I've got: USDJPY = Buy (risk reward isnt that good on this one) EURGBP = Sell GBPJPY = Buy (Maybe if ADX closes above 25, great RR here if it does) Cheers! Does this mean that james 16 is only taking martins stuff and selling the method on his private group? Quote Link to comment Share on other sites More sharing options...
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