I'm still working with the Extreme Peak indicator to determine the best possible setting for EUR/USD, Gold, Silver, Crude Oil, and the other majors. So far it is quite the dawnting task to complete. I've basically focused on EUR/USD market for now to reduce the amount of data I'm bombarded with, and to ease my computer a but.
I keep find more things to add to this system, and it make it a little more difficult to put everything into optimum setting when I've added a new indicator. As of yesterday I found a Heiken Ashi indicator that is really fast! I put into my system, and I suddenly realized I was heading in the same direction as my last system, which is something I would prefer not to do (too many false signals).
In addition I've developed a couple more custom indicators to be added to my system. I'm not sure if they are useful to my system just yet, but just by looking at them they look pretty good.
So yeah, that is pretty much it. Not trading anything until I get this system down, so no money flow yet :(. But I have good results coming in, and I hope to up and running here really soon :).
Wednesday, 22 February 2012
Wednesday, 15 February 2012
Developement of New System: Problem with stop-loss
Starting a new Fractal Trading system, and for now I'm paper trading to see how it plays out. So far I seem to have very good profit points, but my losing points are fairly high. the losing points are still not high enough to trump my profits points, but it seems that i could easily do so in those whipsaw moments.
I just started the paper trading yesterday with EUR/USD on the 15 minute timeframe, and I had a collective profit of 1332 points for that day. Naturally I was fairly excited about that figure, but today I had a losing streak that cost me 370 points. It is not a lot of points lost in comparison, but if I were to get too many losing trades in a row, it could destroy my system.
I'm using fractal points as my entry and stop-loss points, and for the most part both work quite well. But if the fractal point for the stop-loss is really far away, I then risk a great deal. I could limit the larger stop-loss points, but then I run the risk of the market blowing past that point only stop just before my previous stop-loss point.
I think my next move is to determine a average to low average profit for every trade, and then make my stop-loss point just short of that, so that I always make more than I loose.
I just started the paper trading yesterday with EUR/USD on the 15 minute timeframe, and I had a collective profit of 1332 points for that day. Naturally I was fairly excited about that figure, but today I had a losing streak that cost me 370 points. It is not a lot of points lost in comparison, but if I were to get too many losing trades in a row, it could destroy my system.
I'm using fractal points as my entry and stop-loss points, and for the most part both work quite well. But if the fractal point for the stop-loss is really far away, I then risk a great deal. I could limit the larger stop-loss points, but then I run the risk of the market blowing past that point only stop just before my previous stop-loss point.
I think my next move is to determine a average to low average profit for every trade, and then make my stop-loss point just short of that, so that I always make more than I loose.
Tuesday, 17 January 2012
Had a nice guess here today with gold breaking the lower wedge support bar:
I figured that gold price would go down because of the RSI wedge that was formed. The support line remained linear, but the resistance line was decreasing, which would indicate a stronger downward force, and a weakening support.
I figured that gold price would go down because of the RSI wedge that was formed. The support line remained linear, but the resistance line was decreasing, which would indicate a stronger downward force, and a weakening support.
Friday, 13 January 2012
Crude Oil Divergence
Hey there traders, found a really good divergence with crude oil today:
It seems the more I play with this divergence thing, the better my trades are! If I were you, I would educate yourself on the subject. It's really benefiting me and my trading. More so than any other trading system or indicator I've come across.
It seems the more I play with this divergence thing, the better my trades are! If I were you, I would educate yourself on the subject. It's really benefiting me and my trading. More so than any other trading system or indicator I've come across.
Thursday, 12 January 2012
EURUSD HH + RSI LH = Price Drop!
Looks like there EURUSD might go down with RSI showing a Lower High, and
the Price showing a Higher High... guess we'll see what happens :)
In addition, the daily range for today is exceptionally higher than usual. So i would expect a drop coming in to counter act the bulls... but don't count on it being a big drop.
In addition, the daily range for today is exceptionally higher than usual. So i would expect a drop coming in to counter act the bulls... but don't count on it being a big drop.
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