Advanced System #3 - Neat Entry...

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Re: Advanced System #3 - Neat Entry...

Postby Haydel » Sun May 08, 2011 11:03 pm

UPDATE.

Stoch's corssed below 30, it's hard to see on the cart, but the values on the left confirm they corssed.

RSI(3) was below 20 the last two days.

So... I went LONG as you can see on the chart.

We will see how this trade develop.

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Re: Advanced System #3 - Neat Entry...

Postby Blogworker » Mon May 09, 2011 3:23 am

. . . good setup Haydel, can you tell me, what is your Broker ? I have FXDD and at the moment i wait for the cross of the stochs. Thanks
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Re: Advanced System #3 - Neat Entry...

Postby Haydel » Mon May 09, 2011 3:23 pm

UPDATE.

Well this is a lesson for all of us. My decision to enter that trade was toooooo risky. As you can see on the attached image, the price went against me around 100 pips !!!
Lesson: Wait until the bar closes before entering.

I got lucky with this one, after almost loosing 100 pips with that trade, I´m having around 10 pips profit right now.

A safer trade would have being entering LONG at the close of today’s bar, but only if the bar closes with a shape that is similar to what we are looking at right now. The bar is still forming and it may be a very nice pin bar that can confirm a trend change. And as you can see now, the Stoch’s are clearly crossed.

The trade is still open and hopefully the price will continue north.

Happy trading,
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Last edited by Haydel on Mon May 09, 2011 3:30 pm, edited 1 time in total.
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Re: Advanced System #3 - Neat Entry...

Postby Haydel » Mon May 09, 2011 3:27 pm

Blogworker wrote:. . . good setup Haydel, can you tell me, what is your Broker ? I have FXDD and at the moment i wait for the cross of the stochs. Thanks


I´m using HotForex at the moment.
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Re: Advanced System #3 - Neat Entry...

Postby Haydel » Tue May 10, 2011 6:21 pm

UPDATE.

Another day passed, the last daily bar is closed, and now we have two pin bars that look a little like the pin bars that a few weeks ago leaded to price going up.

The trade is still open, and hopefully those pin bars will lead to profit.

Regards,
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Re: Advanced System #3 - Neat Entry...

Postby Haydel » Wed May 11, 2011 9:14 pm

UPDATE

As you can see in the attached image, after the two previous pin bars, buyers made the price scale almost 130 pips today. When the price scaled 100 pips from my entry point, I moved my Stop Loss level to Break Even.

Sadly the price retraced and my Stop Loss was hit so the trade got closed at Break Even, cero Losses, cero Profits :(

Now we have another pin bar but giving the idea that the price will go south. In my opinion the last 3 bars show indecision in the market, so I will stay out and wait for another setup.

Happy trading,
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Re: Advanced System #3 - Neat Entry...

Postby Duke » Sat May 14, 2011 8:25 am

Hi Edvard.Torguete Are you still on the system, and what 's new?
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Re: Advanced System #3 - Neat Entry...

Postby 3PO » Wed May 18, 2011 4:56 pm

Hi, Haydel,

thank you for sharing your trades and thoughts. Can you tell me how do you estimate your initial stop level and when do you set it to breakeven? Thanks, 3PO
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Re: Advanced System #3 - Neat Entry...

Postby Joe-Q » Fri Jun 17, 2011 4:43 am

Hi Haydel & Co,

Not sure if you guys are still around.......there's not been much activity with this thread in recent times.
A question for Haydel: I noticed you dont implement 9EMA for entries and exits according to your charts,
any reason why? I know it wasn't part of the original set-up, but Edward suggested it to better entries &
exits. Just wanted to know your thoughts.

It's a shame this thread hasn't kicked off quite like the others, when probably this is the most reliable system
out there.

Kind Regards
Joe-Q
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Re: Advanced System #3 - Neat Entry...

Postby zilly » Fri Jul 22, 2011 2:36 pm

Joe-Q wrote:It's a shame this thread hasn't kicked off quite like the others, when probably this is the most reliable system
out there.

Yeah it's a simple one to set up & scan for opportunities.
Obviously trades won't be plentiful but they'll certainly give you enough time to adequately prepare when opportunity does come knocking.

You'll uncover some very good trend divergence set ups on the daily chart with this type of strategy, & when the entry takes off it will really deliver some very impressive risk to reward bets.
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