cjthomson wrote:

rebyte2 wrote:

rebyte2 wrote:

cjthomson wrote:

allisonmagic wrote:

cjthomson wrote:

allisonmagic wrote:

wolfeman wrote:I like it too, alli. I've got a pending short at 8265

allisonmagic wrote:what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

lol yeah, i was looking at the same thing

Why did you put your entry so far away from the WR1. I entered short at 8292. Is that too soon?? Currently its hovering around b/e for me. I assume you've not triggered yet?

Be careful, GBP GDP in an hour and a half

Can you submit images so we can see what is happening?

Huh! I'm in GBPNZD already - currently staring at a -73 pip draw down. SL is still a long way off but whats worrying me is if it makes a new high into the 8410/15 region.

A couple of others I'm in:
NZDCAD: -60 pip
AUDCAD: -25 pip
EURNZD: -58 pip

Have I made some dumb choices? Comments welcomed please.

Try again....

Can you submit images so we can see what is happening?

eevra wrote:

nanningbob wrote:Here is a set up trade. Price is right on the line and and the signal to buy is given with RSI 2 bottomed out. I set two pending trades. One above the pivot and on above the mid pivot. TP is WR1. It is in a possible cross position so i will remove the trade if price goes below the 240 line (white line)

Thanks a million BoB for your systems, whcih I am using for a little over a week. Seems pretty THE BEST in the world.

I am curious to know where to get the kind of indi ( RSI 2 & NT TMATrueSlopeHisto MTF ) in the bottom window which almost figures in all your posts? These are not found in the packs at Post1.
Sorry to divert your attention.
Pls respond at your convenience.Nt all that uegent. many Many thanks.

P.S . I am trying to trade NSE50 Futures from NSE ( India).

cjthomson wrote:
Huh! I'm in GBPNZD already - currently staring at a -73 pip draw down. SL is still a long way off but whats worrying me is if it makes a new high into the 8410/15 region.

A couple of others I'm in:
NZDCAD: -60 pip
AUDCAD: -25 pip
EURNZD: -58 pip

Have I made some dumb choices? Comments welcomed please.

Try again....

Can you submit images so we can see what is happening?

rebyte2 wrote:

cjthomson wrote:

rebyte2 wrote:

rebyte2 wrote:

cjthomson wrote:

allisonmagic wrote:

cjthomson wrote:

allisonmagic wrote:

wolfeman wrote:I like it too, alli. I've got a pending short at 8265

allisonmagic wrote:what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

lol yeah, i was looking at the same thing

Why did you put your entry so far away from the WR1. I entered short at 8292. Is that too soon?? Currently its hovering around b/e for me. I assume you've not triggered yet?

Be careful, GBP GDP in an hour and a half

Can you submit images so we can see what is happening?

Huh! I'm in GBPNZD already - currently staring at a -73 pip draw down. SL is still a long way off but whats worrying me is if it makes a new high into the 8410/15 region.

A couple of others I'm in:
NZDCAD: -60 pip
AUDCAD: -25 pip
EURNZD: -58 pip

Have I made some dumb choices? Comments welcomed please.

Try again....

Can you submit images so we can see what is happening?

Ok...first chart, you never waited for AO and RSI2/ STO5 to change, thus you are in too early. Your pending long is ok still.

mjws00 wrote:They are all valid. Just looks like you are a little early on most of them. Nothing wrong with that. I pretty much have to sit on my hands not to do the same thing.

Looks like to me you are getting a little excited the second it gets near your pivot and going for it, patience is important, we are waiting for a retracement to turn back into the direction of the trend. If the level is good it should give you more than one chance to get in there. A little room and a clear breach of the pivot isn't going to hurt.

rebyte2 wrote:Ok...first chart, you never waited for AO and RSI2/ STO5 to change, thus you are in too early. Your pending long is ok still.

All 4 are the same.. 2 x longs and 2 x shorts... are all too early.

You need to place PENDING trades only where you have entered.

Other wise, they might come back to your entries anyhow.

cheers....

nanningbob wrote:Any way you have it right. You are not waiting for the AO to change colors to enter. You have set pending trades while price is going in the wrong direction or is ranging. When price breaks back into the trend it will trigger those trades and also make the AO change color. Your setting of the pending trades had nothing to do with the color of the AO but the RSI 2 or STO 5 being flattened and whether you are above or below the 240 line. Those are the two key reads back into the trend.

The AO only confirms the direction when you are already in the trade. The trade is triggered by your pending trade not the color of the AO.

cjthomson wrote:

mjws00 wrote:They are all valid. Just looks like you are a little early on most of them. Nothing wrong with that. I pretty much have to sit on my hands not to do the same thing.

Looks like to me you are getting a little excited the second it gets near your pivot and going for it, patience is important, we are waiting for a retracement to turn back into the direction of the trend. If the level is good it should give you more than one chance to get in there. A little room and a clear breach of the pivot isn't going to hurt.

Mike - I presume you were responding to me? Thanks for the feedback. My initial thought is that i'm getting in too early as you say. With that in mind I am beginning to get excited about a couple more:
GBPAUD - short
EURNZD - short
EURAUD - short

I guess I need to withdraw from it a bit but how is that possible considering we do not know exactly when the turn will happen? My feeling is that if it gets into the zone then 'put pending order in'. Everyone here seems to suggest the system is so easy and that most are having incredible success in merely a week but for over two weeks now I seem to be working my a* off to eek out even a quarter %. I can't figure out what I'm missing?

mjws00 wrote: These are swing trades. So there is no rush. Remember RSI is just an oscillator, it is like watching a band trade, it will peg out and just stick there. Can be pegged for 8+ hours. Only way I know for sure to sense weakness is jump down to a 30min. It breaks early enough to give a clue. But if you see it break down there, then you can start looking for the entry at the pivot you are past.

The strategy will work the way you are doing it, but it is far more painful. Another simple way to counteract early entries. PLAN FOR IT. Enter half on your first pending, but realize your tendency and add the other half when it goes one more level against you. Your total risk can be kept the same.

Mike

cjthomson wrote:Everyone here seems to suggest the system is so easy and that most are having incredible success in merely a week but for over two weeks now I seem to be working my a* off to eek out even a quarter %. I can't figure out what I'm missing?