[23:25:38] jordan: now it's easy to see we most likely will have a re entry on the 4 hour guppy on the next 4 hour time period.
[23:25:51] stevied: ok, yea, the 15min does provide a lot of opportunities
[23:27:40] jordan: i am still long the usd/jpy 15 min +345 pips (sl b/e) since last week of Dec.
[23:28:04] jordan: see a 15min trade, set and forget for the most part
[23:33:42] dug: the 15min ZLC can be profitable as well from what i'm seeing
[23:34:16] jordan: i don;t trade it simply for mental reasons; avoiding the chop

Hello Andy,

I am glad to hear that you have been learning MT4 and are beginning seeing the patterns! Yes, it sounds like you are CLOSE to actually knowing what you are doing in...and this is GOOD!

Let start with a little recent history:
Last year (2008) the Conquer was traded on the 4 hour time frame and on the guppy (gbp/jpy) alone. Due to the huge success during the last couple weeks of the year the 4 hour Conquer was opened up to multiple currency pairs (with slight adjustments to account for the different ranges of the pairs) so that we would have more opportunites for setups and trades. We also moved the Conquer to the 15 minute time frame; again for more frequent setup and trade opportunites.

On the 15 minute I have been trading all pairs (up to four open trades at a time) but have yet to take a trade on another pair other than the gbp/jpy on the 4 hour time frame. The only reason I took the 4 hour drop in setup last night and not the eur/usd is because I am used to only trading the gbp/jpy, it was a Sunday evening and I was not in a rush to begin something new. Right now between the 4 hour gbp/jpy and 15 minute trading I have my hands full. It is not possible to be taking all trades on all pairs on the 15 minute and 4 hour time frame. You have to find a comfortable balance with what works best for you.

The 1/4/09 20:00 GMT bar was the basis for entry because as trading opened up on the following bar (0:00GMT) the criteria for a short Drop In setup was met; stoch above the 70 level with the True Trend indicator red. The 20:00 GMT was the previous bar so we used the low of the price bar for the entry (trend resuming downward).

The conditions for the Drop In for buying are the true trend must be green with the stoch below the 30 level and for selling the true trend must be red with the stoch above the 70 level.

It sounds like you understand the criteria and conditions for setups but maybe the first trade coming off the weekend and Sunday premarket might be a little fuzzy.

When you see these trades developing you can update the dashboard and make a note it was you would placed the update.

Best,
Jordan