Elite Trader's Gambler's Anonymous ETGA

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The Asia-Pacific region actually start the trading at 16:00 est

then....

comes (Europe) Germany and England at 2:00am est

then....

The good ol' USA at 7:00 am est( Sunday they close up shop at 17:00 est)

Europe and the USA account for more than 50% of turnover

Trading activity is heaviest when major markets overlap

Nearly two-thirds of USA activity occurs in the morning hours when European markets are open

Michael B.
 
dark cyan :) Yeah. you know I am trying to get out and start over...

I removed the entries on the USD/CHF side...(folks please ignore this, as this is more advanced stuff that we will discuss later) If we reverse I can catch the entries on the way back up.

Michael B.

Quote from Ebo:

Now we are talkin ES!
Me likee likee The Teal.

Let's see if we slice right through 1.30 tonight?
More...
 
Electric .. decided to join your forum over here at ET.

I just started on fxgame using the euro and swissy to test out this strategy. It seems the way this becomes profitable is having your orders stacked more heavily in favor with the current trend, obviously there is a lot of room for error since the market usually retraces. I take it you account for this by increasing your ticket percent as the market accelerates in your favor, yes?

I still dont quite understand your use of using the pivots as entry/exit... My setup is I'm using a 14sma on the daily, if the price is above buy orders are spaced out every 20pips, if below the 14sma then they are incremented at 30pips each. I still have no idea of what the optimal ticket size should be and how that should vary ... oh well time will tell

do you happen to know if you can buy in main/sell in sub of the same currency at O?
 
Quote from Ezekiel:

It seems the way this becomes profitable is having your orders stacked more heavily in favor with the current trend,
More...



Michael tell me if I'm wrong, but I believe the whole point of your strategy is that you don't try to "guess" where the market is going right ? 50% chance up, 50% chance down.

What Ezekiel seems to suggest is some kind of trend filtering.
 
Welcome Sir,

This was a lot of reading for you...Did you vote :)

Well, you really do not need to know trend, just range. This is a difficult concept to trade without the need to know direction.

There are two accelerations at work here. First the accounts are separated. This does not mean ALL the shorts in one account and ALL the longs in another account. When we start there will be six currencies traded. See earlier post. There is eight sub accounts. Six for each pair in System #1 and one for System #2 and the the cash subaccount. Now, the two accelerations are the Variable Trade Ticket percent and the Variable Miniumum increment Pivot Point. You can see an earlier screenshot posted here.

The trend is not needed or a lagging MA. Simply the way this is set up, price action will take over. There is no redundancy needed.

Oanda will allow as many sub accounts as you want, so that you may hedge.

Michael B.


Quote from Ezekiel:

Electric .. decided to join your forum over here at ET.

I just started on fxgame using the euro and swissy to test out this strategy. It seems the way this becomes profitable is having your orders stacked more heavily in favor with the current trend, obviously there is a lot of room for error since the market usually retraces. I take it you account for this by increasing your ticket percent as the market accelerates in your favor, yes?

I still dont quite understand your use of using the pivots as entry/exit... My setup is I'm using a 14sma on the daily, if the price is above buy orders are spaced out every 20pips, if below the 14sma then they are incremented at 30pips each. I still have no idea of what the optimal ticket size should be and how that should vary ... oh well time will tell

do you happen to know if you can buy in main/sell in sub of the same currency at O?
More...
 
jrkob,

It is so good to see you back in ET. Your input will be most valuable to this Journal, even though you no longer trade Forex.

This is not trading as we have learned or know it. There are varying degrees of being able to think outside the box. I have faith in Ezekiel. I have exchanged PM's with him and I believe he is one of those traders that can imagine this. But enough of this talk..Lets "forward test" it together...

You must excuse me, the Pivots came in...I gotta draw lines :)

Michael B.


Quote from jrkob:

Michael tell me if I'm wrong, but I believe the whole point of your strategy is that you don't try to "guess" where the market is going right ? 50% chance up, 50% chance down.

What Ezekiel seems to suggest is some kind of trend filtering.
More...
 
Ezekiel,

Lets review the Pivot Points:
  • Pivot Points are drawn off the previous daily bar after the new one prints at Oanda at 24:00est. (later we can discuss layering with the three hour bars...say during your ma crosses, if you insist).
  • We enter and replace trades at these horizontal lines that we draw (extended to right only) on the charts that mark the Pivot Points (H+L+C/3). Our targets are to the next Pivot Line.
  • A Pivot Point is drawn, but if there is another Pivot Point that is closer than the current spreadsheets calculation for the minimum distance, then it should be THAT previous and older Pivot Point line that is removed. Now, if there is an executed trade on that line we removed, then leave it. If there is an order awaiting a fill, cancel it. If there are orders awaiting fills above/below that are effected, reset their targets, same with executed trades.
  • Pivot Points will s t r e t c h during long green bars (and red bars in the inverse) like we are seeing tonight in the EUR/USD and the USD/CHF, following the "natural flow" of the market and giving us a wide increment.
  • You do not need to enter but enough orders to anticipate the longest bar you can, you do not need to enter the whole grid and line them up so deep (I am lazy).
  • Your trade ticket size should already be set from the spreadsheet produced at 17:15est along with the new increments (new increments do not change that often, because they are based on a rolling one year range). The new Excel spreadsheet will be published here with the formula's intact for all to copy.
Ezekiel, There are no dumb questions here...Please ask away (there may be others that just got some questions answered because of your post).

Michael B
 
Folks,

This Journal and your participation is appreciated. Your readership and sharing creates this wonderful community, that I am a guest of.

Thank you and good trading to you.

Michael B.
 
I understand that this method removes the guessing which way the market is headed. Say if it ranges 200pips the next 20 days I can see how this makes profit, taking TP's and resetting them. Is this what you mean by 'price action will take over'?? To me, if you drill down to a small enough timeframe the market is always trending, it's in those 'trends' that we profit.


Ok you can scratch any indicators I mentioned, but say the euro starts to head back to 3500 again at a fast pace... Im just thinking of a way to exploit that by biasing my orders going up while still accumlating sell orders along the way just at a slower pace. In this way, my profit realized will significantly outpace the U/L by having more TP's hit.
 
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