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Yes, that's exactly what it should look like on the daily chart. That confirms the indicator is reflecting the proper underlying data on the daily chart. Now, if the verbiage is still saying "Strong Uptrend" at the top of the H1 (or M30) chart, then we have a problem somehow and I'll need to dig deeper.
Hey bluto, I did some backtesting and it's showing a few trades be held for an extended amount of time, well over a month. What's going on here?
Those 3 buy orders placed on 08/21 were made at a time when EURUSD was peaking at a level that hadn't been reached again until 11/22. The JVEL indicator would've indicated you were in a trading range on 08/22. Your backtest period ended 10/31/06, so those orders were never able to come back around to a profit on 11/22. However, swap would've probably eaten them alive during the 3 month hold.
If you had set an initial stop, the system could've bailed you out at a minor loss earlier on but you have this set to zero. Always use a stop no matter what. This is a good example that just goes to show you cannot run these EA robots with blinders on to what's happening in the market, especially during consolidation periods near tops and bottoms...this a period where trading should be done cautiously with these EA's and closely monitored. That Turbo_JVEL indicator will give early warning signals if a possible reversal is just around the corner. I always keep a JVEL indicator on a daily chart for any pairs I trade just for monitoring purposes. Look at the small red bar for USDJPY on 11/22 and then look at what happened on 11/23 & 11/24.
I don't know if you have noticed the indicator FX_FISH.
If you put this indicator in the chart and look at past, it looks so accurate in telling the top and bottom at the earliest time. I know this is too good to be true. This kind of indicators tend to change its indication with the price change. There are several versions of Fish, the one attached seems more stable. Maybe we can take a look to see if it can give earlier/better warning. It will be very good if only it is 70% as good as it looks like.
It is too bad I can not take a snapshot with my computer, so just have the indicator attached.
Those 3 buy orders placed on 08/21 were made at a time when EURUSD was peaking at a level that hadn't been reached again until 11/22. The JVEL indicator would've indicated you were in a trading range on 08/22. Your backtest period ended 10/31/06, so those orders were never able to come back around to a profit on 11/22. However, swap would've probably eaten them alive during the 3 month hold.
If you had set an initial stop, the system could've bailed you out at a minor loss earlier on but you have this set to zero. Always use a stop no matter what. This is a good example that just goes to show you cannot run these EA robots with blinders on to what's happening in the market, especially during consolidation periods near tops and bottoms...this a period where trading should be done cautiously with these EA's and closely monitored. That Turbo_JVEL indicator will give early warning signals if a possible reversal is just around the corner. I always keep a JVEL indicator on a daily chart for any pairs I trade just for monitoring purposes. Look at the small red bar for USDJPY on 11/22 and then look at what happened on 11/23 & 11/24.
That is the peroid I kept running into with placing buy orders at an extream high.
Hence the suggestion of setting it to sell only at extream highs and buy only at extream lows.
once euro$ is above 1.2900 it is more likely to come back down then go up further. Plus if it does place sell orders and keeps going up befor comming down, the swap will be in your favor.
Like right now. I have 3 sell orders in at 1.2967. I'll just keep collecting intrest while I wait.
Hi Bluto, This past week while testing I have incorrectly been under the impression that the stops are realized vis a vis a built in Exit strategy with Goblin. But in your reply below you suggest putting in stops. Being very new to using Micro accounts what kind of stops would you suggest to input in the "initial stop" area? Thank you.
Quote:
Originally Posted by bluto
Those 3 buy orders placed on 08/21 were made at a time when EURUSD was peaking at a level that hadn't been reached again until 11/22. The JVEL indicator would've indicated you were in a trading range on 08/22. Your backtest period ended 10/31/06, so those orders were never able to come back around to a profit on 11/22. However, swap would've probably eaten them alive during the 3 month hold.
If you had set an initial stop, the system could've bailed you out at a minor loss earlier on but you have this set to zero. Always use a stop no matter what. This is a good example that just goes to show you cannot run these EA robots with blinders on to what's happening in the market, especially during consolidation periods near tops and bottoms...this a period where trading should be done cautiously with these EA's and closely monitored. That Turbo_JVEL indicator will give early warning signals if a possible reversal is just around the corner. I always keep a JVEL indicator on a daily chart for any pairs I trade just for monitoring purposes. Look at the small red bar for USDJPY on 11/22 and then look at what happened on 11/23 & 11/24.
Ok, here's what I need you guys to do for me first:
1. Place a Turbo_JVEL indicator on a USDJPY D1 chart.
2. Set the Length=10 and Phase= -100
3. Post a screen shot of your chart.
You should see a mild downtrend beginning on 11/22 (small red bar), and two strong red downtrend bars on 11/23 & 11/24.
Hi bluto,please see the chart,you are right the downtrend begin from 11/22. But on the 1H U/J chart said "daily trend dir: Strong uptrend" I am totally confused.
Hi bluto,please see the chart,you are right the downtrend begin from 11/22. But on the 1H U/J chart said "daily trend dir: Strong uptrend" I am totally confused.
Would you please post a pic of your H1 USDJPY chart?
Usdjpy
I am totally confused.
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