Net trap EA versus discretionary trading

This is a discussion on Net trap EA versus discretionary trading within the Forex Net Trap forums, part of the Specialists' Corner category; net trap v +D PF results.xls This is what Ive been refering to in the main NT thread when I ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 8, 2011, 12:35am   #1
 
peterf1966's Avatar
Joined Feb 2010
Net trap EA versus discretionary trading

net trap v +D PF results.xls

This is what Ive been refering to in the main NT thread when I say things like 'EA took sell, but I stayed out' etc, etc.

Here is my spreadsheet for November. I need to write some notes to go with it to explain the thinking - but it's not anything you dont already know and not any super variant...bit tired to explain now, so will add when I get a chance over the next few days. Ta!
peterf1966 is offline   Reply With Quote
Old Dec 8, 2011, 10:29pm   #2
 
peterf1966's Avatar
Joined Feb 2010
Re: Net trap EA versus discretionary trading

peterf1966 started this thread So nowt special here.

Usually I will look at the MA and gauge if its line with recent PA. It just seems more and more these days that it isn't, and maybe this is down to a shift in markets - certainly the overnight candles seem a lot different that when I started NT in March 10.
A pattern Ive seen many times is a strong downward MA , but the PA sat on support, so rule 1 is dont place a sell, rule 2 is to consider a reverse from this apparent support level.
Rule 3 is to consider waiting and see what happens if I have time. No need to jump right in at 6.30, as another thing I have noticed is the apparent abrupt reversal of direction at 6.30 (as if someone knows!) and then a contiuation of the MA direction, ie Wait for a better entry.
Rule 4 is to consider a retrace trade later on in the morning. Sometimes I've missed a trade,or decided not to do it, but will wait to see if a retrace is on the cards.Could be signalled by a slowing down of the candle strength, wicks forming at either end, which I will look at on very short time frames, 1 or 5 mins. Part of this rule is to do a quick scalp, take 10 or 12 points while up for grabs.
Sometimes I'll agree withe EA and do the same trade.

So no clear strategy really, other than having experience of looking at charts for an hour in the morning, and getting some intuition about how the PA is going to go.

The only other indicator I sometime use is the stochastic, if high and PA is on a recent high, then a sell is likely, and vice versa, but as with any indy, its not infallible

Not easy to put in a manual and sell of course, but the complexity I think, represents the reality that looking at one MA value cant be relied on.

I think some of the trades were a bit lucky, but Its nearly 200 pips bettter than MMI2, so I;m doing something right, somewhere?
peterf1966 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Net Trap Tools mark120169 Forex Net Trap 10 Dec 11, 2010 10:02pm
Forex Net Trap SA Trader Forex Net Trap 6 Jun 28, 2010 1:44pm
Automated trading versus discretionary trading oildaytrader General Trading Chat 113 May 13, 2010 11:47am
Net Trap Johnnysportster First Steps 5 Mar 30, 2010 9:08am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)