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10.9 DAILY/WEEKLY TRADES ONLY
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Author:  Gertje [ Fri May 02, 2014 6:48 pm ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
milanese » Fri May 02, 2014 3:31 pm wrote: I did it modify, new there is a setting ignoreFuture

Cheers :)

Tommaso
:clap:
Author:  Gertje [ Sat May 03, 2014 7:33 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
dispell » Thu May 01, 2014 2:43 pm wrote:
So, in short -- set TP's but be wary of pendings and SL's for 10.9? I'm considering 0.01 on this TF, considering i've been swamped with work (always taxing as a fresh grad in a foreign environment) :arrrg: Anyway, I hope to be able to commit more here, too. That said, I'd love to join in and trade views with everyone :smile:
To illustrate my ramblings, attached my current GBPNZD chart on the M1 TF. You see two orders closely together, one buy below one sell. Priceaction seems to be well below the orders, which should see the buy at a loss and the sell at a profit. Just calculate the appr. profit in pips, I would say some 25-ish pips.
gbpnzd1.png
25 pips? REALLY? Look at the second chart, and read the statement in the upper section. The buy is 22 pips down as expected, the sell however is at 58 pips loss!

How is this possible? In the last minute, the spread spiked to over 80 pips. Imagine having a SL on the sell of 50 pips. It would have been an instant loss whitout price ever going there at all. Sunday at opening a nice gap will show, which will be closed in seconds making good for an 80 pip move on the chart that never happened but took a lot of orders off the table.
gbpnzd2.png
And there is nothing we can do about it but to be aware of it.
.
Author:  currymonster [ Sat May 03, 2014 8:56 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
[/quote]

I just used one TMA-indi and changed TF-settings and colour. Show the weekly on all, the daily from D1 down, the H4 from H4 down etc.

No, I don't use a script. Didn't find one that I like. It's not that much trouble to enter some trades, and it gives time to eyeball the charts some more.[/quote]

Thanks Gertje, I'll eyeball the charts and have a fiddle with settings on Sunday,

Sending a beer your way, really enjoying the way your explaining stuff, freaking awesome!

8-)
Author:  currymonster [ Sat May 03, 2014 9:03 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
[[/quote]

I love to eat curry flavored foods, is that where you got your name from? I had this picture of this furry yellowish orange monster coming out of an Indian restaurant kitchen. In its hands were a knive and a big metal kettle. Kind of looked like this. Cool name though.[/quote]


Hi Bob, yes I'm addicted to curry and Indian/ Asian cuisine in general. I love hot chilli sauces, but my favourite things are the hot currys with a lot of spice and some chilli bite.

Who knows, if I practice long enough and get half as proficient in this method as Gertje,maybe I'll be able to travel over to you and buy you the biggest damn curry you've ever seen!

Anyway thanks for sharing this method Bob and putting a smile on the face of a curry and daily trading lover from the UK :mrgreen:
Author:  jago25 [ Sat May 03, 2014 2:04 pm ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
Something similar happend to me last week with NZDJPY at GP. However, I checked at FXCM and they had incresed the rollover so I investigated and it came down to a combination of rollover rates on holidays so I figured GP handled this with a spread widen. I wondered if there could be a similar thing with GBPNZD.
I've attached my chart - 10.7 is in the background but I also would have been searching with 10.9 at the time.

Hope this helps? I haven't yet noticed a 10.9 weekly trade. I hope I can spot one to contribute to the thread in the future. Keeping both eyes on NZDJPY and none on the curry.
Gertje » Sat May 03, 2014 7:33 am wrote:
To illustrate my ramblings, attached my current GBPNZD chart on the M1 TF. You see two orders closely together, one buy below one sell. Priceaction seems to be well below the orders, which should see the buy at a loss and the sell at a profit. Just calculate the appr. profit in pips, I would say some 25-ish pips.
Author:  excalibre30 [ Mon May 05, 2014 12:40 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
Hi guys,

I am looking for a modified 10.7 trade helper, one which we can use for the D1 chart or maybe something similar. What I really wanted was an EA that will just wait for Stoch to cross the 10, 30 level going up for buy and sell when it crosses 90, 70 going down to sell.
Author:  slowkey [ Mon May 05, 2014 12:58 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
Just a quick look at Gann 10.7 on the Daily now that we have ribbons. The four hour Shadow Ribbon is very cool. Look how infrequent the crosses and how accurate at confirming the Stochastic. Makes me :smile:

Padnoter made one heck of a ribbon indicator.
gbpnzdmdaily.png
Cheers,
Doug[/size][/b]
Author:  dispell [ Mon May 05, 2014 3:54 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
Gertje » Sat May 03, 2014 3:33 pm wrote:
dispell » Thu May 01, 2014 2:43 pm wrote:
So, in short -- set TP's but be wary of pendings and SL's for 10.9? I'm considering 0.01 on this TF, considering i've been swamped with work (always taxing as a fresh grad in a foreign environment) :arrrg: Anyway, I hope to be able to commit more here, too. That said, I'd love to join in and trade views with everyone :smile:
To illustrate my ramblings, attached my current GBPNZD chart on the M1 TF. You see two orders closely together, one buy below one sell. Priceaction seems to be well below the orders, which should see the buy at a loss and the sell at a profit. Just calculate the appr. profit in pips, I would say some 25-ish pips.



25 pips? REALLY? Look at the second chart, and read the statement in the upper section. The buy is 22 pips down as expected, the sell however is at 58 pips loss!

How is this possible? In the last minute, the spread spiked to over 80 pips. Imagine having a SL on the sell of 50 pips. It would have been an instant loss whitout price ever going there at all. Sunday at opening a nice gap will show, which will be closed in seconds making good for an 80 pip move on the chart that never happened but took a lot of orders off the table.



And there is nothing we can do about it but to be aware of it.
.
Wow :shock:
I've never been a weekend trader, so this is definately new to me. will definately take a look at my spreads this Friday! Thanks for the heads-up on this.
Meanwhile, office is moving to a new location these 2 days, hopefully i can get my stuff up and running soon.
Author:  Gertje [ Mon May 05, 2014 8:37 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
dispell » Mon May 05, 2014 3:54 am wrote:
Wow :shock:
I've never been a weekend trader, so this is definately new to me. will definately take a look at my spreads this Friday! Thanks for the heads-up on this.
Meanwhile, office is moving to a new location these 2 days, hopefully i can get my stuff up and running soon.
It varies from broker to broker.

You will also see this happening before news on pairs that might be influenced. Big spike to take out SL's and pendings, and then price runs the other way.

MarketMaker brokers with fixed spread can't do this, instead they raise the minimum entry/ TP/ SL distance before-after news.
Author:  boldtrader [ Tue May 06, 2014 2:15 am ]
Post subject:  10.9 DAILY/WEEKLY TRADES ONLY
Gertje » Sat May 03, 2014 3:33 am wrote:
To illustrate my ramblings, attached my current GBPNZD chart on the M1 TF. You see two orders closely together, one buy below one sell. Priceaction seems to be well below the orders, which should see the buy at a loss and the sell at a profit. Just calculate the appr. profit in pips, I would say some 25-ish pips.



25 pips? REALLY? Look at the second chart, and read the statement in the upper section. The buy is 22 pips down as expected, the sell however is at 58 pips loss!

How is this possible? In the last minute, the spread spiked to over 80 pips. Imagine having a SL on the sell of 50 pips. It would have been an instant loss whitout price ever going there at all. Sunday at opening a nice gap will show, which will be closed in seconds making good for an 80 pip move on the chart that never happened but took a lot of orders off the table.



And there is nothing we can do about it but to be aware of it.
.

The 80+ pip stop hit occurs when markets either gap or have huge spreads due to news, economic releases, etc..

There are three main reasons these events occur:

1) The spread is widened or a gap on open occurs or a new release causes the market to jump a large number of pips and trips your Stop loss order. Once the order is tripped, it becomes a market order and is filled at the next best available price, which could be 50, 80, 100+ pips away. What the dealers / brokers will tell you is that since price did not trade at your Stop level, your order can not be filled.
That can often be 50,80, 100+ pips away from actual stop order price.

2) A second issue that occurs is that price does trade at your level but there is insufficient order flow to fill the order and then the order is passed on to the next available market trade price. The dealer/broker is not obligated to fill at the specific price (if ECN or non guaranteed broker).

3) A third issue which often occurs is that price does trade at your level and trips your order. However, by the time the order is electronically submitted to the dealer for a fill, price has moved away from your order fill price. If the dealer's quotes are not within the tolerance limit of the dealer's acceptable fill range, the dealer passes on the fill or fills at the next best price which can be 80 pips away from the initial stop level.

This is a perfect example as to why you trade with an established trend, trade small or even smaller and set stops far apart (if used at all).

Cheers
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