Yet another newbie system!

[chrislee]

Hi SR2

The short trade that you have taken on the $/jpy

When you got your entry signal the parsar was not +15 above the slow ma it was just about on it. Have you amended the rules slightly or am I not seeing it correctly?

Regards Chris

[sr2]

Originally Posted by chrislee

Hi SR2

The short trade that you have taken on the $/jpy

When you got your entry signal the parsar was not +15 above the slow ma it was just about on it. Have you amended the rules slightly or am I not seeing it correctly?

Regards Chris

Hi chrislee

The rule is that the PARSAR can be no more than the slowMA - 15 pips (in this case as it was a sell). So in this case the slowMA at the time of the trade was 107.49. The PARSAR was about the same. So as the PARSAR was not less than 107.34 it was a sell trade. Hope that helps.

SR2

[Attiqul]

sr2 what charting system trading platform do you use??

thanks.

[david66]

I sorry if you have already gone over this but i'm very very new to forex. I just downloaded the StrategyBuilderFX. I have a few questions 1) What indicators are used MA or WMA or EMA what do they st for? 2) What is Parabolic SAR? 3) When do you know when to buy/sell? Like I said i'm very very new to forex I want to get started. If you could give an example of when to get into a trade when to get out so I can follow the chart that would help me learn what is going on. Thanks.

[sr2]

Originally Posted by Attiqul

sr2 what charting system trading platform do you use??

thanks.

I use Metatrader for the entry signals. I used GFT for the actualy trades.

SR2

[sr2]

Originally Posted by david66

I sorry if you have already gone over this but i'm very very new to forex. I just downloaded the StrategyBuilderFX. I have a few questions 1) What indicators are used MA or WMA or EMA what do they st for? 2) What is Parabolic SAR? 3) When do you know when to buy/sell? Like I said i'm very very new to forex I want to get started. If you could give an example of when to get into a trade when to get out so I can follow the chart that would help me learn what is going on. Thanks.

Hi david66

Welcome to forex. I'm a newbie just like you

1) The system uses EMA (exponential moving averages). You can get explanations to the various moving averages by doing a google search. They are available in all charting packages.
2) Again rather than go into a long explantion please try doing a search in google or I think you may find some good explanations in the forums. Just to kick you off http://www.incrediblecharts.com/tech...abolic_sar.htm
3) I suggest you read this entire thread. You will get an exact explanation on how the system works amd how it has evolved. You will also find a link to the trade journal showing you the live trades I am currently taking.

Good luck
SR2

[sr2]

As you all know I am still very much a beginner with lots to learn so I have a question for you. Some of you may have noticed that the EURJPY trade the journal came within 10 pips of the TP traget i.e. +90pips. It then reversed closed out for -100 pips. Do you think that YANS should have a discretionary rule to it e.g. if the price comes within 10pips of TP then falls back x number of pips you may want to consider taking the pips?

This is not the first time this system has done this. I remember one of the trades last year came within 1pip. Now that is painful. Just wanted your views. The week so far is +100pips. it could easily have been +290pips.

Let me know what you think.

Thanks
SR2

[firedave]

How about combine TP Trailing Stop Loss ? Like when profit hit +50 pips we move SL to entry point when profit hit +75 pips we move SL to +25 pips when profit hit +100 we move SL to +50 etc. etc. With this maybe we could increase the TP to 150 200 or even 250 pips. Just my two cents