ALSI (15Nov)

[SimonPB]

engulfing candle just put me short ..

[SimonPB]

an stopped .. lol, lasted 3 minutes ..

[sponono]

R/USD has done a double bottom and currently above R7/USD. Should have kept your short. lol.

[SimonPB]

no .. tis a system .. no thinking allowed .. just follow the rules ..

[SimonPB]

an market turns green .. this why I love stops ..

[#6]

Simon I see a green candle (10:15) swallow a red candle (10:00). Why did you go short? I am not saying you are wrong, I am just trying to see what you see that made you make such a call.

[SimonPB]

I shorted the previosu candle .. the 10am swallowed the 9.45 ..

[#8]

Okay thanks. I understand that the 7/21 MA should show direction but today it is all over the place. Is it a good thing to trade when the MA's are not both in the same direction? I am trying to gauge how important the two MA's are. I have already noticed that you give the 7 day a higher priority than the 21 day. Wyy then have a 21 day MA at all?

[SimonPB]

7 above 21 I only go long .. below I only go short ..

[Rams]

Simon, Some questions:When you went short, the 7MA was below the 21MA? Also, can one wait for the next candle after the trigger for confirmation or is the engulfing candle the trigger and confirmation. Lastly, can't I just use the MACD Zero line crossover.

[SimonPB]

as soon as I get the signal I trade .. MACD, no idea, I do't use indicators or oscilators ..

[quovadis]

Simon ... would it not be safer to enter at low of engulfing candle (if to trade short)? It may have kept you out of stopped trade.

[SimonPB]

maybe .. but would I not maybe also miss some great trades ???

[Rams]

Thanks Simon, I think Snakes request that you tell us how you trade your system helps to clarify some aspects, especially the mechanical side of things....

[#15]

Yep, I appreciate it also. Thanks.

[#16]

The green 13:15 candle was the candle of the day it seems. MA 7/21 were both up and 7 was above 21. From here things went up and up. Rule: If still in position at 17:00 get out. Heng it would have worked perfect. Oppertunity lost BUT great knowledge gained. Respect!

[SimonPB]

correct .. I got stopped out for about 70 points .. then got in again and exited in the closing auction as I must always be out by 5pm .. 3 trades for the day and 64 points profit ..

[john_1]

Simon.. what is your stop loss.. trailing 50 points from entry or from bottom of trigger candle?

[john_1]

also are you using only the coloured in bits or are you using the full trade range of each candle?

[SimonPB]

coloured bits only .. trailing 50 point stop .. so when I in I can leave ..