Fabius
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It's 14 pips less than the entry taken by my EA (1.5746) : I am curious too :innocent:
It's 14 pips less than the entry taken by my EA (1.5746) : I am curious too :innocent:
richierich1976
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For the reasons explained above. I wanted to put my stop loss behind 1.5700 plus 5 pips plus the spread and also I wanted my target to be within 10 pips of my daily pivot so that I could take some profit if price couldn't break it.
if I miss it, I miss it. The signal will present itself again
I will use Mark's method as a starting point and then use any logical areas that I see to alter the entry (or not as the case may be)
I do not use candle formations or any other fancy analysis. Need to read more books and charts and forums for all that stuff
1.5700 would have been a better entry but I would have missed it
Sometimes, there is just too much noise in the forum. The 1.5732 is very close to 61.8 fibo level and it is usually a point of entry after retracement. We should keep our faith in the EA and let it run.
For the reasons explained above. I wanted to put my stop loss behind 1.5700 plus 5 pips plus the spread and also I wanted my target to be within 10 pips of my daily pivot so that I could take some profit if price couldn't break it.
if I miss it, I miss it. The signal will present itself again
I will use Mark's method as a starting point and then use any logical areas that I see to alter the entry (or not as the case may be)
I do not use candle formations or any other fancy analysis. Need to read more books and charts and forums for all that stuff
1.5700 would have been a better entry but I would have missed it
Thanks for your response. I have no idea what your analysis is that you were able to get in at 1.5732. Congrats!
My daily pivot is also around 1.5768 and resistance is often seen around this area but if you get confirmation on your hourly chart, it is bound to go up if oversold. My trade is closed at 1.5802 with +40pips.
richierich1976
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Thanks for your response. I have no idea what your analysis is that you were able to get in at 1.5732. Congrats!
My daily pivot is also around 1.5768 and resistance is often seen around this area but if you get confirmation on your hourly chart, it is bound to go up if oversold. My trade is closed at 1.5802 with +40pips.
Congratulations on your win
My 62 fib is at 1.5729. Overnight support was at the 15720 to 15725 area.
Mark's back testing results are impressive and so far very profitable but am just trying to apply some of my little knowledge to increase my chances.
I normally only trade from the 4 hour and 1 hour but this system caught my eye
Sorry its all Mario's fault :cheesy:
On the other hand better on the forum than on the chart :clap:
jrcollins2009
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Strange results with EA this morning. On IBFX, it took a trade and lost 40 pips. On FXDD and Forex.comUK the trade didn't trigger (lucky for me today!). Any insight to this?
trade wasnt triggered on my alpari as well,what a hude difference in brokers price feeds
No one is to be blamed for that.
We need to keep our faith in whatever trading system that helps us to make consistent profit in conjunction with other indicators we might be using for confirmation on our trade entry.
No one is to be blamed for that.
We need to keep our faith in whatever trading system that helps us to make consistent profit in conjunction with other indicators we might be using for confirmation on our trade entry.
Sorryif i may ask,what other indicators are you using for confirmation of your entry,fibo tools .pivot points?
I use fibo, pivot points and stochastic indicator(parameter settings : 8, 3, 3).
Fabius
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Thanks for your response. I have no idea what your analysis is that you were able to get in at 1.5732. Congrats!
My daily pivot is also around 1.5768 and resistance is often seen around this area but if you get confirmation on your hourly chart, it is bound to go up if oversold. My trade is closed at 1.5802 with +40pips.
Nice analysis: you deserve your gain :smart:
My EA didn't trigger a trade with FxOpen, but there was a trade with FxPro.
I think the value of Momentum was so close to 0 today, so that caused the difference.
I entered manually with FxOpen. Luckily both positions survived the first retracement and hit TP! :clap:
Sorry for those who suffered a loss today, but a few days ago my position hit SL while others hit TP. It sometimes happens. I'm sure such differences will be flattened in the long run.
I think the value of Momentum was so close to 0 today, so that caused the difference.
I entered manually with FxOpen. Luckily both positions survived the first retracement and hit TP! :clap:
Sorry for those who suffered a loss today, but a few days ago my position hit SL while others hit TP. It sometimes happens. I'm sure such differences will be flattened in the long run.
Gil
I know we are not trading the 1 minute chart. It is my mistake. I was forgetting that the momentum reading on the 1 minute would be different from the 15. Put it down to my inexperience. My thinking at the time was as the sofware kicks in at 5.30 GMT I would get a more accurate reading, but of course I was wrong. Lesson learnt today. Thanks for correcting me.
I think Marc's trade results are based on Alpari(UK) that is what I use and they always correspond to what he posts.
Yeah I'm usually 1 pip less favorable than him so It'll be interesting to see if he took the trade or not. Haven't been using this system for very long but it seems like there have been quite a few close calls within the margin of a few pips. Depending on your spread have people been increasing the SL by a pip or two?
UPDATE: Just checked the journal, turns out mark had the same problem I had. Bummer.
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bluedancer
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It's really just a small difference, as indicators were soooooo close. However I found the results could be different from broker to broker since this system is so exact, and one pip near the TP, BE or SL points could mean either a loss, a BE or a TP. The trailing stop prevented more gain overall.
My conclusion so far is if we loosened up a bit at the TP and SL and had one more indicator to show price direction it would work much better.
I think those of us that are looking at other indicators and are slightly adjusting tp or entry point are having more success than others, however it is extra work. Personally I would like to find 2 extra clear concise rules for the trade and leave it at that.
My son on the otherhand is doing set and leave and is happy with the progress so far.
