Forex Watchlist

[soap3000]

Potential GBPCHF 60 forming. Might 'show it's hand' in the next few hours...

[soap3000]

Watchlist: See if bar turns blue by the end of today....

Potential 2.2X RR.

[soap3000]

Setup to watch as hourly bar completes.

(NOTE: daily trend is long so.....?)

[soap3000]

Setup to watch as hourly bar completes.

(NOTE: daily trend is long so.....?)

sorry... NHN123 posted this 20 minutes ago - and also the daily chart... (don't want to cut anyones lunch).

Still - will watch how this bar unfolds and maybe enter trade on the next one...

[NHN123]

sorry... NHN123 posted this 20 minutes ago - and also the daily chart... (don't want to cut anyones lunch).

Still - will watch how this bar unfolds and maybe enter trade on the next one...

No problem. All these forums - confusing...

the hourly chart looks like a wave 4 correction, but if it satisfies the wave 5 targets on hourly, it sort of negates the daily set up, as it would go down too much. Or to put it another way, the is wave C support on daily charts, before any targets on the hourly....

Also, I have decided to only take 1H fx set ups if there are absolutely no reasons not to, and loads of reasons to confirm it. This is a personal choice.

Do you have any opinion on this?

Thanks

[soap3000]

No problem. All these forums - confusing...

the hourly chart looks like a wave 4 correction, but if it satisfies the wave 5 targets on hourly, it sort of negates the daily set up, as it would go down too much. Or to put it another way, the is wave C support on daily charts, before any targets on the hourly....

Also, I have decided to only take 1H fx set ups if there are absolutely no reasons not to, and loads of reasons to confirm it. This is a personal choice.

Do you have any opinion on this?

Thanks
Thanks - I do have an opinion... :D

My trading history shows plenty of winners on daily fx, pretty much 50:50 on the 240 mins and only around 3 out of 10 on the hourly. which is still OK if your ratios are alright.

I think hourly setups are still subject to whipsaws whether caused fundamentally or by big players taking positions in periods of low volume (being in Australia this does happen a bit). Also the spread becomes more relevant when calculating the RR.

So I am the same - if there are no announcements, the setup is 'ideal' as Steve would put it and SL is no less than around 15 -20 pips I might have a crack at the occasional hourly.

I'll make a decision in the next 5 minutes - :confused:

[NHN123]

Thanks - I do have an opinion... :D

My trading history shows plenty of winners on daily fx, pretty much 50:50 on the 240 mins and only around 3 out of 10 on the hourly. which is still OK if your ratios are alright.

I think hourly setups are still subject to whipsaws whether caused fundamentally or by big players taking positions in periods of low volume (being in Australia this does happen a bit). Also the spread becomes more relevant when calculating the RR.

So I am the same - if there are no announcements, the setup is 'ideal' as Steve would put it and SL is no less than around 15 -20 pips I might have a crack at the occasional hourly.

I'll make a decision in the next 5 minutes - :confused:

Thanks. Very helpful.

I'm sort of new to FX (well, new to trading it with a sensible strategy anyway), so I haven't been able to create a track record yet. But you have confirmed my very limited observations. Interesting you say about the SL being no less than 15-20 pips. I am with you on that.

thanks very much indeed

[soap3000]

Thanks. Very helpful.

I'm sort of new to FX (well, new to trading it with a sensible strategy anyway), so I haven't been able to create a track record yet. But you have confirmed my very limited observations. Interesting you say about the SL being no less than 15-20 pips. I am with you on that.

thanks very much indeed


Having said that - I might have a crack at this EURCHF 60 (SL will be 15 pips).

Done some manual on the 240 min and it confirms the setup...

(Had a good win on EURCHF daily from Friday so account is up this week already :D )

[NHN123]

Having said that - I might have a crack at this EURCHF 60 (SL will be 15 pips).

Done some manual on the 240 min and it confirms the setup...

(Had a good win on EURCHF daily from Friday so account is up this week already :D )

Good luck!

[soap3000]

Good luck!

Entry triggered:

shot off and SL has been moved to protect position (worse case Break Even...:rolleyes: )

[NHN123]

Entry triggered:

shot off and SL has been moved to protect position (worse case Break Even...:rolleyes: )

Great, nothing to lose now... good call!

[martinrcox]

Great, nothing to lose now... good call!

Hi Nick,

I know that you use spreadbetting to trade forex and I was wondering whether you used a guaranteed stop and if you did what the margin your provider would charge for a trade like this on (EUR/CHF) on the June contract and who you use. I find that the spread kills these 1hr trades from my provider.

Many thanks

[soap3000]

EURGBP1440:

Setup in progress: Scanner did not pick it up but the swings look nice and clean/even to me. C swing is a little squiched.

See how the current blue setup bar develops...

[NHN123]

EURGBP1440:

Setup in progress: Scanner did not pick it up but the swings look nice and clean/even to me. C swing is a little squiched.

See how the current blue setup bar develops...
I've got this on my "watchlist" for tonight.

I can't make out where we are on the weekly though. I thought we were in a down, but I'm not sure now - any thoughts?

On the daily it looks great (apart from the fact it is only at min wave C), as we have (i think) a 5 wave up and we are now at the wave C correction support, with wave 1 or A targets at 6990-7000 ish.

I will be trading this one I think...

[Eddo]

Yes, I'am on the EURCHF 1 hr trade as well - mine was picked up by the efs on Esignal - as a matter of interest are you getting your setups by manually using the ABC feature in MTP EOD or getting them in Esignal?

The reason I ask is that today Steve mentioned in his report a great trade that had been posted on here by Nick. I missed his post unfortunately and the Esignal efs didn't find it either - when I went into MTP EOD and did the manual ABC thing on the charts history it did ....... so should we all be regularly doing a 'manual' check via MTP EOD rather than just relying on the Esignal efs ?

Chris

[soap3000]

I've got this on my "watchlist" for tonight.

I can't make out where we are on the weekly though. I thought we were in a down, but I'm not sure now - any thoughts?

On the daily it looks great (apart from the fact it is only at min wave C), as we have (i think) a 5 wave up and we are now at the wave C correction support, with wave 1 or A targets at 6990-7000 ish.

I will be trading this one I think...

Here's what I think of EURGBP weekly at the moment:

BULLISH

1) Nice wedge breakout (where were we 9 weeks ago...!)
2) Retraced back to 61.8 - might bounce off there
3) 20MA (can't put it on in MTP EOD) it is right on it - if it bounces off that is a good confirmation

for me if something retraces 61.8 AND bounces off the MA then it is 'showing its hand' - look for setups in that direction.

Allas - I will probably be in bed in a few hours so I might have to pass on this one... We'll see.

I'm thinking the same as you in terms of targets.

Btw (great to be bouncing ideas of someone else - thx)

[soap3000]

Yes, I'am on the EURCHF 1 hr trade as well - mine was picked up by the efs on Esignal - as a matter of interest are you getting your setups by manually using the ABC feature in MTP EOD or getting them in Esignal?

The reason I ask is that today Steve mentioned in his report a great trade that had been posted on here by Nick. I missed his post unfortunately and the Esignal efs didn't find it either - when I went into MTP EOD and did the manual ABC thing on the charts history it did ....... so should we all be regularly doing a 'manual' check via MTP EOD rather than just relying on the Esignal efs ?

Chris

Hi Chris,

reassuring to know that RT picked it up also...

I run EOD as I have a day job and generally just look at 4's & daily fx & some index (at 8am, 12pm, 4pm and 8pm). I scan 3000 stocks EOD and trade CFD's off them.

The Mrs is watching big brother so I thought I'd play with some hourly's and got this set up.

I have to say (no disrespect to MTP as it is a thing of beauty to all that behold it) that about 80% of my setups in FX come manually. It is too hard to look at 3000 stocks every day - but 20 currency pairs and some indicies is easy enough.

The best thing MTP has done is trained my eye to spot 1orA followed by ABC setups. Thankyou Steve G.

As far as doubling up with a manual MTP EOD scan - why not. Your data efs writes the files down to your HD. It is as easy as 1,2,3.

I'd recommend setting up a page or two in esignal with some 4H and daily charts - write the data down and do a manual every 4H's.

He who dares win's Rodney :)

[soap3000]

BTW EURCHF 60 min seams to be struggling a bit.

wouldn't be surprised it we get stopped out for break even.

Nothing ventured - nothing gained (nothing lost here either... :p )

[NHN123]

Hi Chris,

reassuring to know that RT picked it up also...

I run EOD as I have a day job and generally just look at 4's & daily fx & some index (at 8am, 12pm, 4pm and 8pm). I scan 3000 stocks EOD and trade CFD's off them.

The Mrs is watching big brother so I thought I'd play with some hourly's and got this set up.

I have to say (no disrespect to MTP as it is a thing of beauty to all that behold it) that about 80% of my setups in FX come manually. It is too hard to look at 3000 stocks every day - but 20 currency pairs and some indicies is easy enough.

The best thing MTP has done is trained my eye to spot 1orA followed by ABC setups. Thankyou Steve G.

As far as doubling up with a manual MTP EOD scan - why not. Your data efs writes the files down to your HD. It is as easy as 1,2,3.

I'd recommend setting up a page or two in esignal with some 4H and daily charts - write the data down and do a manual every 4H's.

He who dares win's Rodney :)

All my set ups come from manual. I find the auto set ups miss too many, cos of previous swings etc... I just scan the charts with my eyes looking for ABC patterns, and then look at what went on prior to it.

MTP is good for me, cos it does the maths for you - worth every penny I paid for it!

[NHN123]

Here's what I think of EURGBP weekly at the moment:

BULLISH

1) Nice wedge breakout (where were we 9 weeks ago...!)
2) Retraced back to 61.8 - might bounce off there
3) 20MA (can't put it on in MTP EOD) it is right on it - if it bounces off that is a good confirmation

for me if something retraces 61.8 AND bounces off the MA then it is 'showing its hand' - look for setups in that direction.

Allas - I will probably be in bed in a few hours so I might have to pass on this one... We'll see.

I'm thinking the same as you in terms of targets.

Btw (great to be bouncing ideas of someone else - thx)

Very nice analysis there. Like you say, right on the 20EMA, I hadn't even thought of looking at that....

Thanks. I, too, really like this idea bouncing. What time Zone are you in, by the way?

[Eddo]

Hi and thanks for your resonse.

I have Esignal running with the 1 and 4 hr charts running on the 10 of the major CrossRates and the $INDU, $SPX and $NDX (3, 5 & 15 mins) ....... thats about all my 'puter can handle without going up in smoke !! I trade all of those using spreadbet accounts.

I don't trade any shares RT but do scan the daily FTSE 100 & S&P 500 but find that I am very rarely trade these - quite enough to do keeping ontop of the RT stuff which I do full time ...........

Yes our EURCHF is starting to look a little grim but like you I will have a BE stopout at worst :o

[soap3000]

Very nice analysis there. Like you say, right on the 20EMA, I hadn't even thought of looking at that....

Thanks. I, too, really like this idea bouncing. What time Zone are you in, by the way?

London born and bred - but I now have the pleasure of living in Sydney Australia....

U...?

[martinrcox]

Hi and thanks for your resonse.

I have Esignal running with the 1 and 4 hr charts running on the 10 of the major CrossRates and the $INDU, $SPX and $NDX (3, 5 & 15 mins) ....... thats about all my 'puter can handle without going up in smoke !! I trade all of those using spreadbet accounts.

I don't trade any shares RT but do scan the daily FTSE 100 & S&P 500 but find that I am very rarely trade these - quite enough to do keeping ontop of the RT stuff which I do full time ...........

Yes our EURCHF is starting to look a little grim but like you I will have a BE stopout at worst :o

Hi Chris,

I know that you use spreadbetting to trade forex and I was wondering whether you used a guaranteed stop and if you did what the margin your provider would charge for a trade like this on (EUR/CHF) on the June contract and who you use. I find that the spread kills these 1hr trades from my provider.

Many thanks

[NHN123]

London born and bred - but I now have the pleasure of living in Sydney Australia....

U...?

I'm in Kent, UK. Was in Wapping london til last year though.

So you work the night shift, so to speak. Still, better than living in the UK and working "normal" hours I suppose!

[David-T]

Hi Chris what spreadbetting company do you use please? and with the index trades are they the cash market or futures market.

With Thanks
David -T

[NHN123]

Hi David - I tend to use CMC Markets mostly

Also I MTP has just come up with this potential GBPJPY set up. Not quite at the Min WPT but a nice R:R and a fairly good looking ABC pattern I thought. Any of you experienced Forex traders got any thoughts on it ?

I'm deffo taking this one. Have been watching it all morning.... It's at wave 2 or B on dailys. Looks like a cracker to me.

[Eddo]

Sorry my chart re the GBPJPY 4 Hr set up - is this the one your going for ?

[Eddo]

Hi Chris,

I know that you use spreadbetting to trade forex and I was wondering whether you used a guaranteed stop and if you did what the margin your provider would charge for a trade like this on (EUR/CHF) on the June contract and who you use. I find that the spread kills these 1hr trades from my provider.

Many thanks

Hi Martin - no I don't use the guaranteed stops - I always put a stop in as soon as the position is open but not the guaranteed ones, which I have always thought were a massive rip-off. Yes there can be nasty gaps at times but I still don't think on balance they are worth the additional cost.

The Margin with CMC markets on the EURCHF is £1,000 for an £8 per pip position - the current spread is 1.5619/22 - hope that helps

Chris

[NHN123]

Sorry my chart re the GBPJPY 4 Hr set up - is this the one your going for ?
yep.

Although mine is comfortably in the WPT:

[NHN123]

GBPJPY 4H:

I have placed an order to get in in case this current 4H bar is an outside bar.

Sell (Stop) @ 207.99; if filled, Protective stop 208.80+spread.

Will review at 8pm (UK) and adjust/pull orders

[soap3000]

GBPJPY 4H:

I have placed an order to get in in case this current 4H bar is an outside bar.

Sell (Stop) @ 207.99; if filled, Protective stop 208.80+spread.

Will review at 8pm (UK) and adjust/pull orders

Morning... is in sunny sydney anyway :D

nice setup lads - well spotted. Looks like nice clean swings.

I'll be keeping an eye on it this morning too. Day shift for me...

PS: pleased to see eurchf 60 is nicely in the money this morning... at least 1x profit has been locked in for me.

[soap3000]

GBPJPY 4H:

I have placed an order to get in in case this current 4H bar is an outside bar.

Sell (Stop) @ 207.99; if filled, Protective stop 208.80+spread.

Will review at 8pm (UK) and adjust/pull orders

GBPJPY240:

Setup has improved with the last bar. Wants to trigger soon otherswise setup might become null...

[NHN123]

Morning... is in sunny sydney anyway :D

nice setup lads - well spotted. Looks like nice clean swings.

I'll be keeping an eye on it this morning too. Day shift for me...

PS: pleased to see eurchf 60 is nicely in the money this morning... at least 1x profit has been locked in for me.

Good call on that. I don't think we are going to get those daily chart set ups, however; no reversal bars.

One to look out for, perhaps in the coming days. EURCAD on a daily. Has come along way down, may be due a sizable correction and the ABC could be there soon... though if it came about, I would onlt trade as a wave C I think

[NHN123]

GBPJPY240:

Setup has improved with the last bar. Wants to trigger soon otherswise setup might become null...

When would you nullify (spelling?) a set up like this?

cheers

[Eddo]

Well how depressing was that :confused: went to bed with a stop order in to go short at 208 on my GBPJPY 4 Hr, when 7 hours later I awake to find it had fired and had then prompty retreated back to my protective stop at 208.73 and kicked me out for a 1R loss :mad: Does the great bandit in the sky read this bulletin board me thinks ?

Clearly my mistake is that I was stupid enough to go to bed, or was it just our friend Soap over there in Auz woz sleeping on his shift ! :D

On a brighter note at least the EURCHF is still showing some blue !

[soap3000]

Well how depressing was that :confused: went to bed with a stop order in to go short at 208 on my GBPJPY 4 Hr, when 7 hours later I awake to find it had fired and had then prompty retreated back to my protective stop at 208.73 and kicked me out for a 1R loss :mad: Does the great bandit in the sky read this bulletin board me thinks ?

Clearly my mistake is that I was stupid enough to go to bed, or was it just our friend Soap over there in Auz woz sleeping on his shift ! :D

On a brighter note at least the EURCHF is still showing some blue !

Well - first time I've had a chance to check the boards today... (napping on my shift I don't know sometimes... :D )

Yes disappointing trade GBPJPY 240 - I wasn't in it as I was too busy today - but I would have taken it and yes - happily enjoyed the 1R loss. Happily?

I have mentally adjusted and now welcome a couple of 1R losses here or there as I know firstly it is reality and secondly for every 2 of those I get a 3.5X win..... Thank you Steve and the team for teaching me this vital lesson (only took 5 years!). I know I am preaching to the converted here.

EURCHF 60 is a case in point. currently at 3.6X RR for me... Manage this trade well and we can afford to have a punt on a few more this week.

Be looking at charts later on this evening see if we can find some juicy setups.

[NHN123]

Well how depressing was that :confused: went to bed with a stop order in to go short at 208 on my GBPJPY 4 Hr, when 7 hours later I awake to find it had fired and had then prompty retreated back to my protective stop at 208.73 and kicked me out for a 1R loss :mad: Does the great bandit in the sky read this bulletin board me thinks ?

Clearly my mistake is that I was stupid enough to go to bed, or was it just our friend Soap over there in Auz woz sleeping on his shift ! :D

On a brighter note at least the EURCHF is still showing some blue !

I do wonder sometimes whether I should go to church more! I get this happen quite a lot lately.

However. I was asleep, but my spreadbet firm doesn't offer "if done" orders, so when I got filled, I never woke up to put the stop in; normally, I would be annoyed, but this time, I am not.

Still in! I think it will get stopped out anyway - just a hunch!

[soap3000]

EURGBP Daily: Setup

Watching: only 2.2 RR but I like trading daily as you can get generally get a nights sleep in without worrying about whipsaws taking you out.

[soap3000]

GBPJPY 240: Setup

Our old friend.... I can't stop looking at this setup. It all looks good to me even if it is still a manual one.

Something jumped in on that blue bar - it triggered then went right back up again. 208.80 seams to be holding.

If we look at entry of the bottom of the blue bar 207.91 - give it a few more pips maybe 207.87 to confirm - we will still have a good RR (4X).

(NHN123 if you can hang on then you're gonna be sitting pretty should this thing collapse...)

I'll watch for a trigger in the next couple of bars - if not then I'll give it away....

[NHN123]

GBPJPY 240: Setup

Our old friend.... I can't stop looking at this setup. It all looks good to me even if it is still a manual one.

Something jumped in on that blue bar - it triggered then went right back up again. 208.80 seams to be holding.

If we look at entry of the bottom of the blue bar 207.91 - give it a few more pips maybe 207.87 to confirm - we will still have a good RR (4X).

(NHN123 if you can hang on then you're gonna be sitting pretty should this thing collapse...)

I'll watch for a trigger in the next couple of bars - if not then I'll give it away....

UK data out in 5 mins. could be a big mover: PMI Construction

[NHN123]

UK data out in 5 mins. could be a big mover: PMI Construction
Anyone got a decent news provider? Mine is not even giving out what the PMI figure was.... was expected as 54.5

Thanks
Nick

[Eddo]

I do wonder sometimes whether I should go to church more! I get this happen quite a lot lately.

However. I was asleep, but my spreadbet firm doesn't offer "if done" orders, so when I got filled, I never woke up to put the stop in; normally, I would be annoyed, but this time, I am not.

Still in! I think it will get stopped out anyway - just a hunch!

Just in case your interested, Finspreads allow you to place an order with an 'if done' order attached to it, which is what I had for my failed GBPJPY 4 hr last night.

I know that in this particular example its looking like this has worked against me, however I do think that with the extreme volatility I am seeing in the Forex market (e.g. I just left my screen for an hour this morning and have seen what was daily profit of £250 turn into a £115 loss, on my EURCHF trade), to go to bed without knowing that the protective stop would automatically be placed onto a triggered order would be sure to keep me wide awake all night :(

[NHN123]

Just in case your interested, Finspreads allow you to place an order with an 'if done' order attached to it, which is what I had for my failed GBPJPY 4 hr last night.

I know that in this particular example its looking like this has worked against me, however I do think that with the extreme volatility I am seeing in the Forex market (e.g. I just left my screen for an hour this morning and have seen what was daily profit of £250 turn into a £115 loss, on my EURCHF trade), to go to bed without knowing that the protective stop would automatically be placed onto a triggered order would be sure to keep me wide awake all night :(
I would be interested.

I'll tell you what happened. I normally have a speaker on, so when I get filled I wake up. But my rabbit bit through the wire last week...

Will look into what finspreads have to offer. Thanks for that!

[Eddo]

Them damm rabbits !!!

If you open an account with Finspreads, they let you trade for a number of weeks with 1 penny trades (can you believe that) ......... but if confidence were low, it could get you back in the saddle

Chris

PS I don't work for Finspreads nor do I get a commission from them but if you do sign up please tell em I gave you the recommendation :o

[NHN123]

Heres one:

I was just reading that UBS are looking for downside on the EURJPY short term at least. Bar not complete yet, so will have a look at 11am

[soap3000]

[QUOTE=NHN123]

I'll tell you what happened. I normally have a speaker on, so when I get filled I wake up. But my rabbit bit through the wire last week...

QUOTE]

who said a traders life was boring.... rabbits....?????

:D :D :D :D

[NHN123]

[QUOTE=NHN123]

I'll tell you what happened. I normally have a speaker on, so when I get filled I wake up. But my rabbit bit through the wire last week...

QUOTE]

who said a traders life was boring.... rabbits....?????

:D :D :D :D

I say MY rabbits, of course, they are my wife's (I have to say that, cos real men don't have rabbits, do they?)

What the devil is going on with this GBPJPY? A tug of war. Who will win....

What was the outcome of that EURCHF trade? I take it you are both out now?

[Eddo]

[QUOTE=soap3000]

I say MY rabbits, of course, they are my wife's (I have to say that, cos real men don't have rabbits, do they?)

What the devil is going on with this GBPJPY? A tug of war. Who will win....

What was the outcome of that EURCHF trade? I take it you are both out now?

I'am still in the EURCHF - had I been sitting at my screen around 8 (UK) this morning I would have sold as it hit the Typ WPT tgt prior to immediately bouncing back up ................ but I wasn't so Iam still in and currently holding a small gain on the position.

Any thoughts on the attached ? A combination of the daily and 1 hr has me looking at this one, however the 4 hr (not attached) doesn't look as promising :confused:

[Eddo]

Sorry forgot the daily one - here it is

[NHN123]

Sorry forgot the daily one - here it is

no real thoughts on it. It looks like it has gone too far above the WPT for me.

Interesting though, if you look at the 15min chart. Looks like a 123 up, maybe now in correction before wave 5. So unreliable though, short term.

[soap3000]

[QUOTE=soap3000]

I say MY rabbits, of course, they are my wife's (I have to say that, cos real men don't have rabbits, do they?)

What the devil is going on with this GBPJPY? A tug of war. Who will win....

What was the outcome of that EURCHF trade? I take it you are both out now?

was following the trade on the 30 min chart after the big drop with my SL 1 pip behind the last bar.

I often like to jump up a timeframe when managing a trade close to the end...?

TP was 1.5586 for 3.13X RR

now - on to the next one...

[NHN123]

[QUOTE=NHN123]

was following the trade on the 30 min chart after the big drop with my SL 1 pip behind the last bar.

I often like to jump up a timeframe when managing a trade close to the end...?

TP was 1.5586 for 3.13X RR

now - on to the next one...
I do the same when I'm unsure of the trade.

What a great trade it was in the end - I wish I'd taken it now.... anyone got a time machine?

[soap3000]

no real thoughts on it. It looks like it has gone too far above the WPT for me.

Interesting though, if you look at the 15min chart. Looks like a 123 up, maybe now in correction before wave 5. So unreliable though, short term.

EURGBP Daily

Been following this on the Daily...

I like it - even though RR is only 2.2X.

Still got 100+ pips to go for entry.

[Eddo]

The Esignal efs has also picked up my 60 min one on this one as well and for better or worse I am now in ............... please can I have a few pips in my direction before your daily comes in plz Soap :o

[NHN123]

GBPJPY got me in the end! Next?!

[Eddo]

GBPJPY got me in the end! Next?!

Sorry about that - join the club!

Did you get onto my FTSE 5 min trade - so far so good :)

[NHN123]

Sorry about that - join the club!

Did you get onto my FTSE 5 min trade - so far so good :)

nah. I haven't got ftse access. only on a spreadbet, where the spread is equivilant to 27,000 risk units! Too large for 5 min trade

Hope you make some money though!

[Eddo]

nah. I haven't got ftse access. only on a spreadbet, where the spread is equivilant to 27,000 risk units! Too large for 5 min trade

Hope you make some money though!

The CMC markets spread on the UK100 is only 2 points and on the INDU (Dow 30) only 4 points. So on my current FTSE trade I am short £40 per point with a risk of 8 points (the MTP R:R + 2 points I add for the spread) = £320 for a potential reward of 45 points = £1,800.

I have been trading both for years without problems - were does your 27,000risk units come from - or am I missing something :confused:

[NHN123]

The CMC markets spread on the UK100 is only 2 points and on the INDU (Dow 30) only 4 points. So on my current FTSE trade I am short £40 per point with a risk of 8 points (the MTP R:R + 2 points I add for the spread) = £320 for a potential reward of 45 points = £1,800.

I have been trading both for years without problems - were does your 27,000risk units come from - or am I missing something :confused:
I was exagerating.

Is it only 2 points? I sort of gave up daytrading these short termers, cos the spread and how quick your money goes. And, more importantly, I was rubbish!

Looks like another ABC on the 5 min FTSE (June Future (on liffe)) coming up to sell, BTW

[Eddo]

Ah thought so ............

Yes only a 2 point spread for FTSE (UK100) on CMC and if you use the same MTP R:R methodology you shouldn't loose any more than with the Forex trades :) ....but the really aim here is to make money not lose it.

For what its worth the vast majority of my trades are on the INDU (Dow30) and SPX trading 3,5 and 15 min charts mostly and I do OK with that. I only recently started playing around with these Forex markets and clearly havent got the hang of that 'cos to date of the five trades I have entered, four of them have gone down with a 1R loss and the fifth (my good old EURCHF) is hanging on by its fingernails :o Its all this talk of +1000 % profits that got me greedy - lol :o

[NHN123]

Ah thought so ............

Yes only a 2 point spread for FTSE (UK100) on CMC and if you use the same MTP R:R methodology you shouldn't loose any more than with the Forex trades :) ....but the really aim here is to make money not lose it.

For what its worth the vast majority of my trades are on the INDU (Dow30) and SPX trading 3,5 and 15 min charts mostly and I do OK with that. I only recently started playing around with these Forex markets and clearly havent got the hang of that 'cos to date of the five trades I have entered, four of them have gone down with a 1R loss and the fifth (my good old EURCHF) is hanging on by its fingernails :o Its all this talk of +1000 % profits that got me greedy - lol :o

I only went into FX as practice really, to get better at trading on the longer term charts, rather than having to make split second decisions with 3/5 min charts.

However, I do find it better to trade; not that I am making anything at the moment, but I am going to keep plugging away at it. Will see what happens.

Might go back in to the short term charts when I feel a bit more comfortable / confident

[NHN123]

Chaps,

What do you think of this?

I can't get enough weekly data to get the bigger picture.

Not a great patter (B a bit flat), and no reversal bar yet,but it is through the bottom of the bollinger, and at the 1st WPT so maybe a bounce soon???

[soap3000]

Chaps,

What do you think of this?

I can't get enough weekly data to get the bigger picture.

Not a great patter (B a bit flat), and no reversal bar yet,but it is through the bottom of the bollinger, and at the 1st WPT so maybe a bounce soon???

Been tracking this also - for it to trigger the next bar will have to travel north over 150 pips (if it does this it will become a blue reversal bar me thinks and so validate the setup).

I'll have a peep at the weekly...

[Rimu]

Hi all...my first post..
I don't have MTP yet, am renovating and selling a house at the moment, but will be buying it when this is finished in a couple of months.
I have been trading the AUDUSD 240 min on wave 3 after an ABC wave 2 correction, and am still in the trade. It looks that it may be making a wave 4 correction now, so have my stop set at the last peak (7636). I was wondering if this qualified under the MTP programme as a trade (auto or manual), and if so how it managed it? Thanks..

[soap3000]

Hi all...my first post..
I don't have MTP yet, am renovating and selling a house at the moment, but will be buying it when this is finished in a couple of months.
I have been trading the AUDUSD 240 min on wave 3 after an ABC wave 2 correction, and am still in the trade. It looks that it may be making a wave 4 correction now, so have my stop set at the last peak (7636). I was wondering if this qualified under the MTP programme as a trade (auto or manual), and if so how it managed it? Thanks..

Hi Rimu,

Here is how I see it.

The setup was right off the typ WPT and did trigger with a blue bar - so most would consider a valid MTP setup in that regard.

Initial RR was not quite 2X - so a risky trade and I perhaps would not have taken it.

As it turns out - you've blitzed through the first few profit targets and must be up around 3X RR now.

Recommend trailing a stop 1 pip below the low of the last bar (as per MTP trade guidelines).

[NHN123]

Amazing what different data can do...

It would have been a text book trade with my data

Right now, it is at the wave 3 targets, so I would consider taking profits.

It really depends on how you saw this when you took the trade (i.e. wave 3 or C) as to how you managed it. When you buy it, you'll read about this in the manual, but it is very much your choice....

[soap3000]

Amazing what different data can do...

It would have been a text book trade with my data

Right now, it is at the wave 3 targets, so I would consider taking profits.

It really depends on how you saw this when you took the trade (i.e. wave 3 or C) as to how you managed it. When you buy it, you'll read about this in the manual, but it is very much your choice....

wow - that is unbelievable - the setup candle with my data was about 25% longer meaning much lower RR.... ? I suppose that each and every trade really is unique depending on data provider and your timeframe. If a candle begins/ends 5 minutes earlier/later - you are going to get a different setup up.

RE: Wave C or Wave 3. - Call me pessimistic :p but I always consider it to be wave c and if it turns out to be a big wave '3' then bonus - ride it on home.

nothing exciting the last few days... looking for something nice before the weekend to finish this week off with a bang.

[Rimu]

NHN123 and Soap3000..
Thanks for your replies, I am definitely buying MTP when I am clear in a couple of months. I trade the ASX300 shares on daily through CFD's (DMA), and some FX on 4 + 24 hrs periods. MTP will definitely help the screening process and help identify trades. I am up about 13 RR on the AUDUSD 4Hr (trading as wave 3) at the moment I think, once the trade is profitable I don't keep a close eye on the numbers until the trade is completed, I concentrate more on the stop (keeps me from sabotaging a good trade through greed. :o ). I expect some of my stops and entries differ from the standard MTP module, I base a lot of it on a book I read about EW trading, not much in depth about EW theory itself but near identical theories as MTP on RR, and a lot of sensible information on different entry/exit setups( none of which would be codable I imagine :( ) and a good bit on using CFD's. I won't post the title here as it may contravene the BB rules???

[NHN123]

NHN123 and Soap3000..
Thanks for your replies, I am definitely buying MTP when I am clear in a couple of months. I trade the ASX300 shares on daily through CFD's (DMA), and some FX on 4 + 24 hrs periods. MTP will definitely help the screening process and help identify trades. I am up about 13 RR on the AUDUSD 4Hr (trading as wave 3) at the moment I think, once the trade is profitable I don't keep a close eye on the numbers until the trade is completed, I concentrate more on the stop (keeps me from sabotaging a good trade through greed. :o ). I expect some of my stops and entries differ from the standard MTP module, I base a lot of it on a book I read about EW trading, not much in depth about EW theory itself but near identical theories as MTP on RR, and a lot of sensible information on different entry/exit setups( none of which would be codable I imagine :( ) and a good bit on using CFD's. I won't post the title here as it may contravene the BB rules???

No probs.

I'm sure you can post it. I for one would be interested. Plenty of people post book titles here; if they help us - why not??

Thanks and good luck with the house! I have done that before. I must say, I prefer trading. It's too much like hard work, I have since developed a fear of paintbrushes, too...

[NHN123]

The daily says we have ended wave 3, weekly chart says we could be at a wave C support.

I suppose both say up a bit for a correction, but this 4H says down, and it has lovely swings and maybe a good R/R when and if we get a reversal bar.

After a 5 wave down, this is the ABC correcting that, maybe a bit too small correction?

What do you guys think?

[soap3000]

The daily says we have ended wave 3, weekly chart says we could be at a wave C support.

I suppose both say up a bit for a correction, but this 4H says down, and it has lovely swings and maybe a good R/R when and if we get a reversal bar.

After a 5 wave down, this is the ABC correcting that, maybe a bit too small correction?

What do you guys think?

I likes it....

Waiting for this or next bar to go south - turn red and trigger.

[NHN123]

Are you in on the EURCHF?

[Eddo]

I'am still in :( having missed the drop yesterday due to an unforseen meeting I had to attend at 8:30 yesterday morning - I see its just put in a TS3 setup - what do you think, should I cut and run?

Meanwhile my little old EURGBP 1 Hr is still hanging on in there - I should have sold yesterday I think :confused:

[NHN123]

I'am still in :( having missed the drop yesterday due to an unforseen meeting I had to attend at 8:30 yesterday morning - I see its just put in a TS3 setup - what do you think, should I cut and run?

Meanwhile my little old EURGBP 1 Hr is still hanging on in there - I should have sold yesterday I think :confused:

Sorry, I meant the long EURCHF on daily. Triggered but not doing well at the moment.

I took the long, then looked at the hourly to see why it triggered and then went straight down - hopefully, for me at least, it will not hold the hourly sell set up....

It's a rather confusing picture at the moment.

All seems rather familiar, triggered then down, doesn't it.

Markets usually behave like this coming up to payroll friday, so I suppose it should be expected.

[soap3000]

I'am still in :( having missed the drop yesterday due to an unforseen meeting I had to attend at 8:30 yesterday morning - I see its just put in a TS3 setup - what do you think, should I cut and run?

Meanwhile my little old EURGBP 1 Hr is still hanging on in there - I should have sold yesterday I think :confused:

Hi Chris...

EURCHF - another sell setup on the 60 mins... just confirms - you might get a third stab at putting that one away.

EURGBP - I was crossing my fingers for you last night. The initial setup was offering less than 2X RR so it would have had to be a quick in and out (said the vicker..) - I have been watching this EURGBP 240 closely. I don't know how long it will hold on for....

[Eddo]

Thanks for that guys -

[martinrcox]

I was wondering what evereyone was doing on the Eur Chf Daily buy which seems to have triggered and then reversed. I know that a sell has just been given on the 60min chart

[NHN123]

I was wondering what evereyone was doing on the Eur Chf Daily buy which seems to have triggered and then reversed. I know that a sell has just been given on the 60min chart

I'm in on this one. All I can do is wait and see what happens.

I usually find the hourly set ups unreliable (Chris and Mr Soap have proved otherwise over the last day or so, however), and the daily set ups more reliable. So I'll just hang in there....

What are your thoughts?

[Eddo]

I'm in on this one. All I can do is wait and see what happens.

I usually find the hourly set ups unreliable (Chris and Mr Soap have proved otherwise over the last day or so, however), and the daily set ups more reliable. So I'll just hang in there....

What are your thoughts?

I'am still in but short based on a 1 Hr setup a cpl of days ago -

[soap3000]

I'm in on this one. All I can do is wait and see what happens.

I usually find the hourly set ups unreliable (Chris and Mr Soap have proved otherwise over the last day or so, however), and the daily set ups more reliable. So I'll just hang in there....

What are your thoughts?

I am usually the same with Hourly setups - just caught me on a good week.

I admit - I didn't get this setup. Even with restrictions off it didn't show up and I haven't been doing manual analysis this evening as I've been watching / waiting for usdjpy 240 to trigger (nearly there...)

Looks like a nice setup up though - have a good trade lads :D

[NHN123]

I am usually the same with Hourly setups - just caught me on a good week.

I admit - I didn't get this setup. Even with restrictions off it didn't show up and I haven't been doing manual analysis this evening as I've been watching / waiting for usdjpy 240 to trigger (nearly there...)

Looks like a nice setup up though - have a good trade lads :D

I've got the orders in on the JPY. Good looking ABC. room for a couple of hundred pips down on the weekly support WPTs (typ wave C).

However, no divergence on this 4H chart - you can't have it all can you! How much attention do you guys pay to divergence etc..?

Thanks
Nick

[martinrcox]

I'm in on this one. All I can do is wait and see what happens.

I usually find the hourly set ups unreliable (Chris and Mr Soap have proved otherwise over the last day or so, however), and the daily set ups more reliable. So I'll just hang in there....

What are your thoughts?

Hi Nick,

I have just got esignal and it does come up with a lot of hourly set ups. I did some back testing over the weekend and it comes up with some very good trades as long as they are taken no later than the middle of a strong implusive move. However what I have just found out this morning is that some of the setups disappear after they have been triggered so my analysis might be flawed. So it is back to the drawing board. Here is an example from USD / CAD 1 hour

[soap3000]

I'm in on this one. All I can do is wait and see what happens.

I usually find the hourly set ups unreliable (Chris and Mr Soap have proved otherwise over the last day or so, however), and the daily set ups more reliable. So I'll just hang in there....

What are your thoughts?

EURCHF Daily

maybe......

perhaps we're looking at the beginning of a EW run down...?

I know usually wave 3 starts slow and then gathers momentum - but that big bar down on the 4th (:D enjoyed that...) has just paused for breath and will continue south..?

who knows - all will be revealed in time.

so exciting !!!!

[Eddo]

Hi Nick,

I have just got esignal and it does come up with a lot of hourly set ups. I did some back testing over the weekend and it comes up with some very good trades as long as they are taken no later than the middle of a strong implusive move. However what I have just found out this morning is that some of the setups disappear after they have been triggered so my analysis might be flawed. So it is back to the drawing board. Here is an example from USD / CAD 1 hour

Martin - I have read somewhere on the MTP site (I think the video help files) why that happens - i.e. disapearing setups - send a quick email to Steve and I am sure he will point you to the place.

Secondly. can you tell me how you are backtesting MTP setups in Esignal - I would luv to be able to do that but can't work out how

[NHN123]

EURCHF Daily

maybe......

perhaps we're looking at the beginning of a EW run down...?

I know usually wave 3 starts slow and then gathers momentum - but that big bar down on the 4th (:D enjoyed that...) has just paused for breath and will continue south..?

who knows - all will be revealed in time.

so exciting !!!!

My thoughts looking at the daily chart was that the A leg of this down does look impulsive. But, I thought we might be at the end of wave 4 correction. You can never tell, and it is finding support at the 61.8 retraement level (or is it?) of wave 3.

Worth a punt, I thought...

like you say, only time will tell

[martinrcox]

Martin - I have read somewhere on the MTP site (I think the video help files) why that happens - i.e. disapearing setups - send a quick email to Steve and I am sure he will point you to the place.

Secondly. can you tell me how you are backtesting MTP setups in Esignal - I would luv to be able to do that but can't work out how

Hi Chris,

It has not been very scientific. I have look back over the last few months (longer for daily) and printed off the charts for 1hr, 4hr and daily for about 12 pairs and reviewed which ones would have worked out if you had taken the trade providing that it was following the directions of the daily trend. Most of them would have been successfull. However that was before I realised that the signals sometimes disappear which might change the findings

[soap3000]

Hi Nick,

I have just got esignal and it does come up with a lot of hourly set ups. I did some back testing over the weekend and it comes up with some very good trades as long as they are taken no later than the middle of a strong implusive move. However what I have just found out this morning is that some of the setups disappear after they have been triggered so my analysis might be flawed. So it is back to the drawing board. Here is an example from USD / CAD 1 hour

My buddy runs MTP RT and false setups are just a fact of life. Trades will trigger and then move to Stop Out on the next bar. 1x Loss.

Other times setups will occur and you get a run that is 6X win.

If every setup MTP found was great it would be too easy.

Looking back in hindsight. When all the 'valid' setups are still on a chart. It is easy to be hard on yourself and say - 'why didn't I trade that one and why did I miss that other one.'

I am not sure MTP can be 'backtested' in this way as it is not an automated trading system. I find it is more of a 'leading indicator'

anyhow - just my thoughts on it whilst I wait for this damn usdjpy to trigger so I can go to bed!! :D

[Eddo]

Just been stopped out on my EURGBP 1 hr trade - all a bit hard work but managed exactly 2:1 R:R to it worked out in the end - that my first Forex winner !!! :)

[soap3000]

Just been stopped out on my EURGBP 1 hr trade - all a bit hard work but managed exactly 2:1 R:R to it worked out in the end - that my first Forex winner !!! :)

Nice work Chris...

USDJPY 240 behaving well.

SL set at beer money for the time being.

[martinrcox]

Martin - I have read somewhere on the MTP site (I think the video help files) why that happens - i.e. disapearing setups - send a quick email to Steve and I am sure he will point you to the place.

Secondly. can you tell me how you are backtesting MTP setups in Esignal - I would luv to be able to do that but can't work out how

Hi Chris,

In order to back test in esignal you need to right click on the chart in question and pick tools and then pick enter bar replay mode. This enables you to go back bar by bar and see what MTP would have found as you go forward again.

I hope that this helps. So far I have looked at the period from 7/3 to 30/3 for the AUD / USD (which was a strong swing down) to see what sells came up for the 60min and 4hr charts. There were no set up on the 4 hr and on the 60min you would have made one small profitable trade of about 30 pips, one where you got out at break even and two where you would have lost a small amount

I am going to look at other charts to see if any come up better than this. I do take on board Soapy's comments that MTP is not a black box. I suppose I am still defining my trading methodology and I am trying to investigate ways to increase the probabilities.

I hope that this help

[NHN123]

manual ABC in CHFJPY (I suspect there will be in a lot of CHF pairs this morning - I don't know if there is a story behind it?)

Bar not complete yet

[soap3000]

Neither are 'Textbook'

but both worth a watch...

[Eddo]

Hi Chris,

In order to back test in esignal you need to right click on the chart in question and pick tools and then pick enter bar replay mode. This enables you to go back bar by bar and see what MTP would have found as you go forward again.

I hope that this helps. So far I have looked at the period from 7/3 to 30/3 for the AUD / USD (which was a strong swing down) to see what sells came up for the 60min and 4hr charts. There were no set up on the 4 hr and on the 60min you would have made one small profitable trade of about 30 pips, one where you got out at break even and two where you would have lost a small amount

I am going to look at other charts to see if any come up better than this. I do take on board Soapy's comments that MTP is not a black box. I suppose I am still defining my trading methodology and I am trying to investigate ways to increase the probabilities.

I hope that this help

Thanks for that Martin,

Actually what I was really trying to find out was if anyone knew how to make the Esignal Backtest Facility (Tools, Backtesting) work on MTP setups. I have spoken to Steve on this one and he doesn't.

The reason I was enquiring was that I have another piece of trading software, which I have been using for longer term swing trades, on which the Esignal Backtest facility produces an instant anyalisis of every trade that the software found over a 550 day backtest period. If you change the software settings and re-run the Backtest you can then find the best settings for each market and which markets trade that system best and which ones don't.

My idea for using this facility with MTP was simply to run the Esignal Backtest for each Market I follow at lots and lots of different time frames to see which time frame produced the best result, for each individual market, over a period of a year or so and then trade that time chart for that Market. To do that manually would be a nightmare !

I might get onto Esignal and ask them if its possible to do - in the meantime for me its a day of rest from the markets coz Iam off to my Regimental re-union dinner tonight and its a 300 drive away ! Good trading all :)

[martinrcox]

Thanks for that Martin,

Actually what I was really trying to find out was if anyone knew how to make the Esignal Backtest Facility (Tools, Backtesting) work on MTP setups. I have spoken to Steve on this one and he doesn't.

The reason I was enquiring was that I have another piece of trading software, which I have been using for longer term swing trades, on which the Esignal Backtest facility produces an instant anyalisis of every trade that the software found over a 550 day backtest period. If you change the software settings and re-run the Backtest you can then find the best settings for each market and which markets trade that system best and which ones don't.

My idea for using this facility with MTP was simply to run the Esignal Backtest for each Market I follow at lots and lots of different time frames to see which time frame produced the best result, for each individual market, over a period of a year or so and then trade that time chart for that Market. To do that manually would be a nightmare !

I might get onto Esignal and ask them if its possible to do - in the meantime for me its a day of rest from the markets coz Iam off to my Regimental re-union dinner tonight and its a 300 drive away ! Good trading all :)

Hi Chris,

I hope that you have a good day. If you find an automatic way of doing the back testing for MTP I would be really interested as it is a very labourious job doing it manually :o

[Eddo]

Greetings all,

I found this potential setup which I thought might be interesting with a nice looking ADC (perhapse a little overstreched to C) and a nice potential R:R of around 5:1

Should we keep this one on our Radar screens ?

[soap3000]

Getting Buy set ups on the hourly and four hourly.

USDCAD is at a 15 year low.... Imaging picking the bottom of that one and going long for next 3 years...:D

Monthly chart is nearing end of 5 Wave sequence.

1orA...?

[martinrcox]

Hi everyone,

I was doing some manual analysis on this one over the weekend and it reversed strongly on Friday to form a Wave 2 or C high with a red reversal bar. You will see assuming that this lower high holds that the trend is changing to down. If I am doing manual analysis I tend to use the 10 and 5 day moving average for extra confirmation. I have not shown this on the chart but the 5 day has just gone through the 10 day. I do realise that if it is a wave C then the minimum WPT is not far away however I have shown the minimum wave 3 wpt which is a lot further away. I think I will sell on the pull back tomorrow

[soap3000]

Hi everyone,

I was doing some manual analysis on this one over the weekend and it reversed strongly on Friday to form a Wave 2 or C high with a red reversal bar. You will see assuming that this lower high holds that the trend is changing to down. If I am doing manual analysis I tend to use the 10 and 5 day moving average for extra confirmation. I have not shown this on the chart but the 5 day has just gone through the 10 day. I do realise that if it is a wave C then the minimum WPT is not far away however I have shown the minimum wave 3 wpt which is a lot further away. I think I will sell on the pull back tomorrow

Yes - Watch this one closely I think.

I have 3 positions open currently and that is my limit.
2 of them are very similar to the EURJPY daily setup.
I posted the setups on Friday and they triggered that day also. CADJPY and AUDJPY. I think we are seeing a strengthening in the Yen as all three chartsare looking quite similar...

[martinrcox]

Yes - Watch this one closely I think.

I have 3 positions open currently and that is my limit.
2 of them are very similar to the EURJPY daily setup.
I posted the setups on Friday and they triggered that day also. CADJPY and AUDJPY. I think we are seeing a strengthening in the Yen as all three chartsare looking quite similar...

Hi Soapy,

I was just looking at the AUD JPY and was about to post that update. I hope that it goes well for you. I tend to enter a bit later than you using moving averages on these manual set up to reduce the possibility of being a false signal. I know that this reduces the potential profit but according to my analysis it practically eliminates the risk

[bigboy666]

Hi Soapy,

I was just looking at the AUD JPY and was about to post that update. I hope that it goes well for you. I tend to enter a bit later than you using moving averages on these manual set up to reduce the possibility of being a false signal. I know that this reduces the potential profit but according to my analysis it practically eliminates the risk


HI Martin ,

can you post a screenshot of you using your moving averages

cheers

[bigboy666]

Hi Soapy,

I was just looking at the AUD JPY and was about to post that update. I hope that it goes well for you. I tend to enter a bit later than you using moving averages on these manual set up to reduce the possibility of being a false signal. I know that this reduces the potential profit but according to my analysis it practically eliminates the risk


HI Martin ,

can you post a screenshot of you using your moving averages

cheers

[soap3000]

Hi Soapy,

I was just looking at the AUD JPY and was about to post that update. I hope that it goes well for you. I tend to enter a bit later than you using moving averages on these manual set up to reduce the possibility of being a false signal. I know that this reduces the potential profit but according to my analysis it practically eliminates the risk

Hi Martin,

Interesting.... Anything that reduces risk has gotta be worth considering.

I gather from your post below that you are looking for the 5MA to cross the 10MA to give you an entry signal?

Is that cross on the same timeframe as the setup or do you go shorter timeframes to jump on it quicker...?

Do you use and exponential or a simple MA...?

Applied to the close or something else...?

Would really like to hear about it if you are happy to share.

[NHN123]

Good morning all,

Possible USDCAD buy set up.

What does everyone think to this? I think maybe worth a go for a larger degree correction?? although it is obviously against the trend

[soap3000]

Good morning all,

Possible USDCAD buy set up.

What does everyone think to this? I think maybe worth a go for a larger degree correction?? although it is obviously against the trend

Check out post #96 for my thoughts on this one Nick...

I think - get amongst it.

Only because I got an hourly setup this morning (Oz time) and am in it.... (so some company might be nice :o )

Hasn't moved all day but the 240 min confirmation is making me feel good about it.

Imagine going long and this thing have a 4 year correction...? It's about due!!

[martinrcox]

Hi Martin,

Interesting.... Anything that reduces risk has gotta be worth considering.

I gather from your post below that you are looking for the 5MA to cross the 10MA to give you an entry signal?

Is that cross on the same timeframe as the setup or do you go shorter timeframes to jump on it quicker...?

Do you use and exponential or a simple MA...?

Applied to the close or something else...?

Would really like to hear about it if you are happy to share.

Hi Soapy and Big Boy,

I am attaching my daily chart for EUR JPY with my analysis. I went back as far as October year and I applied the following rules.

- Only buy or sell in the direction of the trend

- I must admit that I have not analysed every continuation swing using MTP but you can see it picked up atleast 4 of the 6 trades shown on this chart

- If in doubt about the signal to take the trade after the 5 day moving average has clearly crossed the 10 day as shown on the 31st March where the MTP buy signal a few days earlier was not very clear.

- I have assumed that you are able to buy or sell at the high or low of the day that you enter the trade. I have analysed EUR JPY and found that the pull back on average is 40 points from the low of high of the previous day.

You can ignore the profit figures they are based on using spreadbetting and placing a £1 per point bet (very conservative). You cannot see all the analysis but going back to October following these rules in conjuction with MTP you would have only ever made one losing trade (of £60) and would have had 7 profitable trades. I do appreciate that following these parameters will reduce the potential gains and you will also miss out on some trades. However if you want to follow a more conservative and low risk strategy this might be worth considering. I have looked at quite a few other pairs and these results are achievable on these but with some of them you have to make sure that you do not move your stop to break even too quickly. The moving averages are based on closing and the 10 day is simple and the 5 day is expodential. I know that this setup is a bit odd but it matched up best with some other software that I am using that has moving averages already built in.

I would be interested in your thoughts :)

[NHN123]

Check out post #96 for my thoughts on this one Nick...

I think - get amongst it.

Only because I got an hourly setup this morning (Oz time) and am in it.... (so some company might be nice :o )

Hasn't moved all day but the 240 min confirmation is making me feel good about it.

Imagine going long and this thing have a 4 year correction...? It's about due!!
That was my reasoning behind it - it's about due! I've got the orders in (with a little bit of "wiggle room" - Chris'll like that!)

Right or wrong, it's gotta be worth a punt...

My main concern is that it is not at typ WPT. We shall see....

thanks

[bigboy666]

Hi Soapy and Big Boy,

I am attaching my daily chart for EUR JPY with my analysis. I went back as far as October year and I applied the following rules.

- Only buy or sell in the direction of the trend

- I must admit that I have not analysed every continuation swing using MTP but you can see it picked up atleast 4 of the 6 trades shown on this chart

- If in doubt about the signal to take the trade after the 5 day moving average has clearly crossed the 10 day as shown on the 31st March where the MTP buy signal a few days earlier was not very clear.

- I have assumed that you are able to buy or sell at the high or low of the day that you enter the trade. I have analysed EUR JPY and found that the pull back on average is 40 points from the low of high of the previous day.

You can ignore the profit figures they are based on using spreadbetting and placing a £1 per point bet (very conservative). You cannot see all the analysis but going back to October following these rules in conjuction with MTP you would have only ever made one losing trade (of £60) and would have had 7 profitable trades. I do appreciate that following these parameters will reduce the potential gains and you will also miss out on some trades. However if you want to follow a more conservative and low risk strategy this might be worth considering. I have looked at quite a few other pairs and these results are achievable on these but with some of them you have to make sure that you do not move your stop to break even too quickly. The moving averages are based on closing and the 10 day is simple and the 5 day is expodential. I know that this setup is a bit odd but it matched up best with some other software that I am using that has moving averages already built in.

I would be interested in your thoughts :)

i can see what your doing , how does it work on thev 240min charts?

[martinrcox]

i can see what your doing , how does it work on thev 240min charts?

Hi Bigboy,

I am still looking into it on 4hr charts but it does not seem to work unless the trade is triggered early on or in the middle of a wave 3. It does not seem to work at all on 1hr charts. But as you can see it is very effective on Daily charts

[NHN123]

Hi Soapy and Big Boy,

I am attaching my daily chart for EUR JPY with my analysis. I went back as far as October year and I applied the following rules.

- Only buy or sell in the direction of the trend

- I must admit that I have not analysed every continuation swing using MTP but you can see it picked up atleast 4 of the 6 trades shown on this chart

- If in doubt about the signal to take the trade after the 5 day moving average has clearly crossed the 10 day as shown on the 31st March where the MTP buy signal a few days earlier was not very clear.

- I have assumed that you are able to buy or sell at the high or low of the day that you enter the trade. I have analysed EUR JPY and found that the pull back on average is 40 points from the low of high of the previous day.

You can ignore the profit figures they are based on using spreadbetting and placing a £1 per point bet (very conservative). You cannot see all the analysis but going back to October following these rules in conjuction with MTP you would have only ever made one losing trade (of £60) and would have had 7 profitable trades. I do appreciate that following these parameters will reduce the potential gains and you will also miss out on some trades. However if you want to follow a more conservative and low risk strategy this might be worth considering. I have looked at quite a few other pairs and these results are achievable on these but with some of them you have to make sure that you do not move your stop to break even too quickly. The moving averages are based on closing and the 10 day is simple and the 5 day is expodential. I know that this setup is a bit odd but it matched up best with some other software that I am using that has moving averages already built in.

I would be interested in your thoughts :)

Interesting - thanks for sharing.

Obviously this will affect your R/R. Would you then only take a trade that was 2:1 using your filter, or would you work the R/R (for filter purposes) on the original MTP set up, without your MA filter? I hope I have asked that clearly?

Thanks
Nick

[Eddo]

That was my reasoning behind it - it's about due! I've got the orders in (with a little bit of "wiggle room" - Chris'll like that!)

Right or wrong, it's gotta be worth a punt...

My main concern is that it is not at typ WPT. We shall see....

thanks

Greetings, hope you all had a good trading day on Friday - unfortunately for me coz I was going to be away all of Friday I had moved my stop on the USDJPY trade to B/E and got stopped out :mad: ......... and look at it now (well done Durgesh I say) ....... btw on the subject of Durgesh, if you read this thread, could I ask that you move your Forex posts to the Forex section (rather than the Intraday Forum) so that we have all our Forex ramblings in the same place - it would in my view just makes life a little easier than dancing from one thred to another.

I've placed a 5 and 10 period simple MA on the USDCAD potential setup to see if Martins method might be helpful - if I have it right, he would be waiting not only for the entry break but also for the 5 to cross up through the 10 ? Have I got that right ?

[martinrcox]

Interesting - thanks for sharing.

Obviously this will affect your R/R. Would you then only take a trade that was 2:1 using your filter, or would you work the R/R (for filter purposes) on the original MTP set up, without your MA filter? I hope I have asked that clearly?

Thanks
Nick

Hi Nick,

On the basis of my analysis for EUR JPY (other pairs vary slightly in the parameters that need to be applied) you can take any trade that comes up regardless of the R/R because it only shows you being stopped out once in 8 trades. How you manage your exit is another matter. I would still use the MTP normal guidelines where there is a clear and obvious ABC or where the software automatically picks up a trade. I think this approach could be used for any manual trades that are found or like I said ABC's that are not very balanced (which you get quite a few in esignal) to take the trade a bit later on rather than not taking it at all. Thereby knowing that there is high probability of a profit rather than it being a false signal. :)

I hope this answers your question

[martinrcox]

Greetings, hope you all had a good trading day on Friday - unfortunately for me coz I was going to be away all of Friday I had moved my stop on the USDJPY trade to B/E and got stopped out :mad: ......... and look at it now (well done Durgesh I say) ....... btw on the subject of Durgesh, if you read this thread, could I ask that you move your Forex posts to the Forex section (rather than the Intraday Forum) so that we have all our Forex ramblings in the same place - it would in my view just makes life a little easier than dancing from one thred to another.

I've placed a 5 and 10 period simple MA on the USDCAD potential setup to see if Martins method might be helpful - if I have it right, he would be waiting not only for the entry break but also for the 5 to cross up through the 10 ? Have I got that right ?

Hi Chris,

I hope that you had a good bash on Friday. Like i said to Bigboy my analysis only applies to Daily charts. I am still looking into it on 4hr charts but it does not seem to work unless the trade is triggered early on or in the middle of a wave 3. It does not seem to work at all on 1hr charts. But as you can see it is very effective on Daily charts

[Eddo]

Thanks Martin - I'am going to have a look at applying that on a potential sell on GBPNZD daily

[NHN123]

Hi Nick,

On the basis of my analysis for EUR JPY (other pairs vary slightly in the parameters that need to be applied) you can take any trade that comes up regardless of the R/R because it only shows you being stopped out once in 8 trades. How you manage your exit is another matter. I would still use the MTP normal guidelines where there is a clear and obvious ABC or where the software automatically picks up a trade. I think this approach could be used for any manual trades that are found or like I said ABC's that are not very balanced (which you get quite a few in esignal) to take the trade a bit later on rather than not taking it at all. Thereby knowing that there is high probability of a profit rather than it being a false signal. :)

I hope this answers your question
Indeed it does.

Many thanks

How long have you used this? I know you were only using those 8 trades as illustration, but do you have any further backtest? Sorry to keep asking questions....

This is very similar to some other software I looked at, who charge $1000s for what is basically a moving average crossover - but it is nearly 80% accurate, so it is great confirmation, what you are doing. I am going to do some testing of my own, too....

[soap3000]

Greetings, hope you all had a good trading day on Friday - unfortunately for me coz I was going to be away all of Friday I had moved my stop on the USDJPY trade to B/E and got stopped out :mad: ......... and look at it now (well done Durgesh I say) ....... btw on the subject of Durgesh, if you read this thread, could I ask that you move your Forex posts to the Forex section (rather than the Intraday Forum) so that we have all our Forex ramblings in the same place - it would in my view just makes life a little easier than dancing from one thred to another.

I've placed a 5 and 10 period simple MA on the USDCAD potential setup to see if Martins method might be helpful - if I have it right, he would be waiting not only for the entry break but also for the 5 to cross up through the 10 ? Have I got that right ?

I've got 5MA's , 10MA's and the kitchen sink running on my USDCAD....

Got in on and hourly setup this morning (oz time) and watching it move up and down 10 pips all day long... Frustrating to say the least. SL @ 45 seams to be holding.

RE: USDJPY - I too was a little too cautious on that one it seams - managed to earn a few beers out of it. - You live and learn.

HOWEVER - AUDJPY and CADJPY going gangbusters off Friday's daily setups.

See what unfolds in the next few hours.

[martinrcox]

Thanks Martin - I'am going to have a look at applying that on a potential sell on GBPNZD daily

Hi Chris,

I missed that one but it does look like it is forming a lower high and it has triggered a TS1 sell.

[richbois]

Funny that you like this 5 and 10 moving averages.

A little while back I was looking at another system available on the market by a very well known company and they claimed that they could forecast trend changes etc. Their system took into consideration price of gold, oil, bonds, Dow, and more.

So I ask them to send me some charts proving their claim and they did.

After reviewing the charts I came up with the same charts using moving averages.
All their charts are based on day charts and their short term signal is
WMA 5 on close and WMA 6 on open

Long term signal came up to WMA 5 on close and SMA 10 on close

So its interesting that you use 5 and 10 and I have the same 5-6-10 confirming my trades

Just my 2 cents

[martinrcox]

Indeed it does.

Many thanks

How long have you used this? I know you were only using those 8 trades as illustration, but do you have any further backtest? Sorry to keep asking questions....

This is very similar to some other software I looked at, who charge $1000s for what is basically a moving average crossover - but it is nearly 80% accurate, so it is great confirmation, what you are doing. I am going to do some testing of my own, too....

Hi Nick,

So far I have back tested AUD JPY, CHF JPY, EUR AUD, EUR CHF, EUR GBP, EUR JPY, AUD USD, GBP USD and DJIA. Unfortunately I do not have time to go through all the results here but depending upon how you apply your stops (some of them reverse back behind the entry point some 3-5 days after entering only them to stongly move in the direction that you are trading) most of them are coming up with a very high percentage of successful trades

[NHN123]

Hi Nick,

So far I have back tested AUD JPY, CHF JPY, EUR AUD, EUR CHF, EUR GBP, EUR JPY, AUD USD, GBP USD and DJIA. Unfortunately I do not have time to go through all the results here but depending upon how you apply your stops (some of them reverse back behind the entry point some 3-5 days after entering only them to stongly move in the direction that you are trading) most of them are coming up with a very high percentage of successful trades
Thanks. Appreciate it

[soap3000]

Stopped Out... :(

[MarianRos]

Any comments for a better entry?

[Eddo]

Any comments for a better entry?

Hi, if it can put in a blue bar in the next one or two bars at the Typ Wpt I think we could look at this one again :)

[MarianRos]

...looking to 4h chart

[soap3000]

Any comments for a better entry?



Looking like a better setup on the 240 mins...

It has smashed through min wave c support - it is bang on Typical now but with only 2.7 RR on current setup. This might hold...

See Durgesh comments on Forex - 'Trade of the Day' thread.

Might jump back into this one. This pair is at such a historical low it would be brilliant to be able to catch it...

[Eddo]

Looking like a better setup on the 240 mins...

It has smashed through min wave c support - it is bang on Typical now but with only 2.7 RR on current setup. This might hold...

See Durgesh comments on Forex - 'Trade of the Day' thread.

Might jump back into this one. This pair is at such a historical low it would be brilliant to be able to catch it...

Great minds eh :)

[soap3000]

Great minds eh :)

:D

Fibonacci started out trying to map how rabbits populated a field and look when we are with it today...

[soap3000]

Looking like a better setup on the 240 mins...

It has smashed through min wave c support - it is bang on Typical now but with only 2.7 RR on current setup. This might hold...

See Durgesh comments on Forex - 'Trade of the Day' thread.

Might jump back into this one. This pair is at such a historical low it would be brilliant to be able to catch it...

USDCAD 240

Second go at this after failed 60 minute setup.

Looks to have moved off nicely on the back of CAD housing Start data which was out 15mins ago - (got as high as 91).

Perhaps this time round we might see some juice.

[Eddo]

USDCAD 240

Second go at this after failed 60 minute setup.

Looks to have moved off nicely on the back of CAD housing Start data which was out 15mins ago - (got as high as 91).

Perhaps this time round we might see some juice.

Going to hold my powder dry on this one and wait for something in the 4 hr /dailies - but good luck to you with it :)

[Eddo]

Going to hold my powder dry on this one and wait for something in the 4 hr /dailies - but good luck to you with it :)

Sorry - what a pratt I am - your already on the 4 hr !!

[soap3000]

Sorry - what a pratt I am - your already on the 4 hr !!

Yes and finally seeing some joy - up to 1.1112 now :D

FYI:

AUDJPY Daily - came back onto my stops (trailing them tight) 2.5X ish

CADJPY Daily - still running short 114 pips profit (2.2X) thus far.

Off to beddie byes - see y'all tomorrow.

[Eddo]

The Esignal efs hasn't found this one but the Advanced ABC button in MTP EOD did and I have this nice looking potential trade with the red bar just about into the Typ WPT. I have placed the first resistance point using the Wave1(A) manual analysis which gives a min potential gain of around 2.9:1 - so an order is in - lets see if it fires :rolleyes:

[soap3000]

EURCAD as NHN123 has already pointed out elsewhere...

Also

Keeping an eye on the pattern forming in the AUDJPY

[soap3000]

Anyone else seeing this...?

Manual Setup - waiting for a blue bar to confirm.

[bigboy666]

Anyone else seeing this...?

Manual Setup - waiting for a blue bar to confirm.

yip . have you got your OMS set -up yet?


CHOPS......

[soap3000]

yip . have you got your OMS set -up yet?


CHOPS......

got it to open... haven't got the pages set up - got the sister in law down from Brisbane staying until the weekend :mad:

will be on msn tonight though - perhaps the z man can send a ss

soap

[bigboy666]

got it to open... haven't got the pages set up - got the sister in law down from Brisbane staying until the weekend :mad:

will be on msn tonight though - perhaps the z man can send a ss

soap



okok Z man will sort,

speak tonight

[Eddo]

Good Moaning all :o

Well I wake up expecting loads of nice looking potential set-up and nothing ! My potential EURNZD looks to have lost its way. I'am still in the Long EURAUD which is on the right side of the line (just) and moving slowly but for me, that's about all I have - am I missing anything ? :confused:

[Eddo]

Anyone else seeing this...?

Manual Setup - waiting for a blue bar to confirm.

Hi,

My input on your EURJPY for what its worth - doesn't look right to me !

[martinrcox]

Hi,

My input on your EURJPY for what its worth - doesn't look right to me !

Hi Chris,

For your info here is how this pair has reacted to previous ABC corrections over the last 5 months

[NHN123]

Looking good at the moment - we'll see what the market gives us at midnight...

[martinrcox]

Here is one that has moved down strongly from the wave 4 wpt. It has now reached 6254. Unfortunately when you export files from esignal into MTP it does not show the current daily bar. As you can see there is some way to go before the top of the minimum wpt and the dollar seems to be reversing

[NHN123]

Possible set up here, bar not complete yet.

Any thoughts ?

[NHN123]

Possible set up here, bar not complete yet.

Any thoughts ?

Set up is there:

USDCAD 4H
Sell Stop 1.1130
protective stop 1.1170 (inc 4 pips spread)
Wave 1 or A 1.1004

[Eddo]

Mine has triggered and Iam in :o

[Eddo]

Set up is there:

USDCAD 4H
Sell Stop 1.1130
protective stop 1.1170 (inc 4 pips spread)
Wave 1 or A 1.1004

Hi Nick,

Lets make sure we don't move our stops to B/E too soon on this one :o

[NHN123]

Hi Nick,

Lets make sure we don't move our stops to B/E too soon on this one :o

I am holding tight here, but look at the 60 min charts, its found support at the 50% retracement of the last swing - maybe a wave A, so wouldn't be surprised if an B and C came up....

[NHN123]

I am holding tight here, but look at the 60 min charts, its found support at the 50% retracement of the last swing - maybe a wave A, so wouldn't be surprised if an B and C came up....
or maybe not....

[Eddo]

I am holding tight here, but look at the 60 min charts, its found support at the 50% retracement of the last swing - maybe a wave A, so wouldn't be surprised if an B and C came up....

But ..............for the time being isn't life looking GR8 :)

[NHN123]

But ..............for the time being isn't life looking GR8 :)
it's nice to be wrong sometimes!

[Eddo]

it's nice to be wrong sometimes!

Sorry I wasn't trying to be clever and its still early days, but my sandwich is going down very well just at this very moment :)

[NHN123]

Sorry I wasn't trying to be clever and its still early days, but my sandwich is going down very well just at this very moment :)
I know you weren't.

I'm looking at the hourlys now for stops as it has come down too quick... probably going to put my stop above this 1H bar high, as it has hit some fib levels, and looks supported - again, I may be wrong - lets hope it doesn't happen

[Eddo]

I know you weren't.

I'm looking at the hourlys now for stops as it has come down too quick... probably going to put my stop above this 1H bar high, as it has hit some fib levels, and looks supported - again, I may be wrong

Well a profit is a profit ........... but don't forget that little bit of wiggle space :)

[NHN123]

Well a profit is a profit ........... but don't forget that little bit of wiggle space :)
lol

what are you doing on this?

I'm keen to lock in at least some profit, cos of the bad run I have had (not that that should come in to it....) and cos it is at historical lows, so maybe due a real bounce...

[Eddo]

This is my plan on this one btw -

[Eddo]

lol

what are you doing on this?

I'm keen to lock in at least some profit, cos of the bad run I have had (not that that should come in to it....) and cos it is at historical lows, so maybe due a real bounce...

I think your idea of putting in a stop using the 1 hrs makes sense - I am certainly going to lower mine to B/E for the time being but will leave a further move I think until the close of play (i.e. whiskey time !)

[NHN123]

This is my plan on this one btw -
am I doing this wave 1 or A wrong?

I have it at 1.1020 ish.... I was using the C and B swings

[Eddo]

am I doing this wave 1 or A wrong?

I have it at 1.1020 ish.... I was using the C and B swings

I got mine from point C (first click) and point B (second click) using the Wave Price Tgt feature Wave 1orA down -

[NHN123]

I got mine from point C (first click) and point B (second click) using the Wave Price Tgt feature Wave 1orA down -
sorry - I've been very silly. Mine was 1.1004 all along... I was thinking of the wave B low - that was 1.1020 ish - no wonder I lose money all the time!

[Eddo]

sorry - I've been very silly. Mine was 1.1004 all along... I was thinking of the wave B low - that was 1.1020 ish - no wonder I lose money all the time!

No Probs ................ Steve showed me that I had been doing my Wave1 or A's wrong last week (its in one of the posts somewhere) and I've been using MTP for years !!

[NHN123]

USDCAD made a new multi year low....

Was tempted to get out in the 90s (my wife said to, aswell). I can't help thinking I've been greedy here.... stop at 1.1042 (inc spread).

We'll see what happens

[Steve Griffiths]

Well done Guys,

What a brilliant trade.................. Interesting how this reversed (on the 60-min chart) right at the 1st porfit target from my "manual analysis" in today's report. So not only should you have been banking a nice profit on a long trade, but "stopping and reversing" to short just before this sharp fall. Which, as Chris demonstarted was a perfect TS3 sell on the 240min chart.

We are now at the first profit target on this short trade...............

What a brilliant trade - and a perfect example of MTP in action, well done guys :)

Steve

[Eddo]

Absolutely - pure magic this MTP thing !!!

[Eddo]

USDCAD made a new multi year low....

Was tempted to get out in the 90s (my wife said to, aswell). I can't help thinking I've been greedy here.... stop at 1.1042 (inc spread).

We'll see what happens

Nick - have you ever watched Deal or No Deal on the tele ........ they nearly always deal too early in my view because they can't resist the guaranteed and sometimes small prize. What was that I read (a million times) somewhere ........ 'let your profits run and cut your losses short' ...

[NHN123]

Nick - have you ever watched Deal or No Deal on the tele ........ they nearly always deal too early in my view because they can't resist the guaranteed and sometimes small prize. What was that I read (a million times) somewhere ........ 'let your profits run and cut your losses short' ...

Yes Sir, I have. I played it only yesterday in fact -
http://www.dilan4.freeserve.co.uk/maths/dond.swf

Oh, yes. Where is your stop now? If you don't mind me asking? I moved it, cos on the hourlys it would be a big reversal if it hit my stop now - would be a hammer on candlesticks (maybe, I think)

[Eddo]

Yes Sir, I have. I played it only yesterday in fact -
http://www.dilan4.freeserve.co.uk/maths/dond.swf

Oh, yes. Where is your stop now? If you don't mind me asking? I moved it, cos on the hourlys it would be a big reversal if it hit my stop now - would be a hammer on candlesticks (maybe, I think)

I have a OCO in (I hope my spreadbet account people don't read this or they will stop fish me !). Close at either 1.1050 or 1.0950. The 1.1050 is just my little bit of wiggle room so quite close to your 1.1045

[Eddo]

:o Well thats the first 4 hours over with and so far so good.

I have a OCO order in with my stop just above the last hourly bar at around 1.1050 and a buy to close down at the Tpy Wpt ............ now for we sit an wait !

[brs910]

USDCAD made a new multi year low....

Was tempted to get out in the 90s (my wife said to, aswell). I can't help thinking I've been greedy here.... stop at 1.1042 (inc spread).

We'll see what happens

I was doing some backtesting using the bar replay mode and missed this trade on the 240 chart. It was there alright on the chart and in the alert list but by the time i saw the chart it has already run.

Nice TS3 and worked 4 u quickly, good work. As i write this ur back in the 90's. Decisions decisions... ;)

[NHN123]

I was doing some backtesting using the bar replay mode and missed this trade on the 240 chart. It was there alright on the chart and in the alert list but by the time i saw the chart it has already run.

Nice TS3 and worked 4 u quickly, good work. As i write this ur back in the 90's. Decisions decisions... ;)
There'll be other's....

1.0983 was the 27.2 extension of the wave C. Might hold some support, although it breached it, but did you see how it bounced....?

[Eddo]

There'll be other's....

1.0983 was the 27.2 extension of the wave C. Might hold some support, although it breached it, but did you see how it bounced....?

I'am out also - 2.6:1 R:R so all in all not bad - did u sell the 25 pips lower ?

[NHN123]

I'am out also - 2.6:1 R:R so all in all not bad - did u sell the 25 pips lower ?
Nope.

I'm still in. don't like what it is doing - i suspect some profit taking on the london home time...

gonna be disciplined and keep my stop at 45.

[Eddo]

Nick

We need to get your wife on the case more often :) ......... but who said this stuff doesn't work !

[Eddo]

Nope.

I'm still in. don't like what it is doing - i suspect some profit taking on the london home time...

gonna be disciplined and keep my stop at 45.

Oh, good for you - when that big bounce came in I moved mine to 20 and was taken out - its still hanging around there now - so go boy and prove me wrong :)

[NHN123]

Nick

We need to get your wife on the case more often :) ......... but who said this stuff doesn't work !
Don't promote her - I need her to do my admin!

She used to be a trader too (if you can call short sterling real trading....), so I like to talk over the trades with her for a second opinion; two heads are better than one and all that....

[Eddo]

Don't promote her - I need her to do my admin!

She used to be a trader too (if you can call short sterling real trading....), so I like to talk over the trades with her for a second opinion; two heads are better than one and all that....

BTW are still in the EURAUD trade ? I'am still in that one but its having a horrible day and has come just about all the way back to B/E :mad:

[NHN123]

BTW are still in the EURAUD trade ? I'am still in that one but its having a horrible day and has come just about all the way back to B/E :mad:
I never went into it.

It wasn't the best pattern, but I thought to take it. Then I saw that there was oz data out over night, so I passed it cos I didn't want to get in on a data spike, and then get stopped out straight away (plus, if I snoozed off, I have no speakers - those bloomin rabbits!)

[NHN123]

What a day of data we have tomorrow:

Date GMT Release Period Consensus Prior

10-May-2006 05:00 Leading Economic Index (Japan) Mar P 60.0% 90.9%
10-May-2006 05:00 Coincident Index (japan) Mar P 11.1% 50.0%
10-May-2006 06:00 Machine Tool Orders (Japan) Mar P 11.1% 50.0%
10-May-2006 06:00 Trade Balance (Germany) Mar 13.1B 13.1B
10-May-2006 06:00 Current Account (EURO) (Germany) Mar 12.3B 11.0B
10-May-2006 06:45 Industrial Production (France) Mar 1.0% -0.9%
10-May-2006 06:45 Manufacturing Production (France) Mar -1.1%
10-May-2006 07:30 Industrial Production (Sweden) Mar 0.5% -1.4%
10-May-2006 07:30 Industrial Orders (Sweden) Mar 3.1%
10-May-2006 08:00 CPI (Norway) Apr 0.6% 0.3%
10-May-2006 08:00 PPI (Norway) Apr 1.2%
10-May-2006 08:30 Visible Trade Balance GBP/Mn (UK) Mar -£6350 -£6478
10-May-2006 09:30 BoE Quarterly Inflation Report (UK) Q1
10-May-2006 11:00 MBA Mortgage Applications (US) May 5 8.8%
10-May-2006 13:00 FOMC Meets on Interest Rates, Economy (US)
10-May-2006 14:30 DOE Crude (US) May 5
10-May-2006 14:30 DOE Gasoline (US) May 5
10-May-2006 14:30 DOE Refinery (US) May 5 0.45%
10-May-2006 14:30 API Crude (US) May 5
10-May-2006 14:30 API Gasoline (US) May 5
10-May-2006 14:30 API Distillate (US) May 5
10-May-2006 18:00 Monthly Budget Statement (US) Apr $73.5B $57.7B
10-May-2006 18:15 FOMC Rate Decision Expected (US) May 10 5.00% 4.75%
10-May-2006 22:45 Unemployment Rate (New Zealand) Q1 3.7% 3.6%
10-May-2006 23:50 Money Supply M2+CD (Japan) Apr 1.6% 1.5%


The japan ones could be important for those of us looking to trade the EURJPY on the daily charts....

[soap3000]

Wow....

missed some fun last night.

I was long USDCAD - came back and stopped me out at 1.1132 (72pip profit).

How much fun that stop and reverse must have been.

Sheesh - I'm on the wrong continent! (at least I don't have to deal with rogue rabbits...)

[NHN123]

Wow....

missed some fun last night.

I was long USDCAD - came back and stopped me out at 1.1132 (72pip profit).

How much fun that stop and reverse must have been.

Sheesh - I'm on the wrong continent! (at least I don't have to deal with rogue rabbits...)

Do you want the good news, or the good news?...

I've managed to make profit on two trades in a row - the loonie long, and short...

second - I've got some new speakers; they are cordless, too. So I can take them up to bed with me and never miss a stop again!

[Eddo]

I think Nicks rabbits have woken me up ........... bloody hell its only 5:22 in the morning !!

Have we all seen this one which I thought looked promising - however with all then data coming out today (thanks Nick) it might be a day to take a quiet beer down at the pub ! BTW I see the USDCAD is still running for you Nick :) and my EURAUD is looking a little bit better today as well :)

[soap3000]

I think Nicks rabbits have woken me up ........... bloody hell its only 5:22 in the morning !!

Have we all seen this one which I thought looked promising - however with all then data coming out today (thanks Nick) it might be a day to take a quiet beer down at the pub ! BTW I see the USDCAD is still running for you Nick :) and my EURAUD is looking a little bit better today as well :)


Yip - been watching this for a day or so: see this post:

http://www.mtptrader.com/showpost.php?p=3126&postcount=133

I could only find this manually - and still no auto trade setup. What settings you on for MTP to pick this setup up...?

THX

[Eddo]

Yip - been watching this for a day or so: see this post:

http://www.mtptrader.com/showpost.php?p=3126&postcount=133

I could only find this manually - and still no auto trade setup. What settings you on for MTP to pick this setup up...?

THX

Hi,

Did a scan on my daily data file with all setting off in MTP - this came up on both the Intermediate and Major scan's

BTW yesterdays bar on mine is Blue ............yippeeeeeeeee

[martinrcox]

I think Nicks rabbits have woken me up ........... bloody hell its only 5:22 in the morning !!

Have we all seen this one which