[forexmoments]

Dear all,

EDIT: Pip Nailer was a simple system that was created for fellow traders, primarly aimed towards those wanted a basic system, with a lightweight structure, and without any complicated rules. Results do vary from month to month, however I can't vouch for the system's effectiveness from around May 2008 onwards, since I haven't been trading it myself.

Two files attached - the actual PDF manual, and the template for MT4 users.

Regards,

Ash

EDIT: Please note, I do not recommend smaller timeframes, especially anything under 30min. Also, another rule of thumb is, only take the trade if the TP is at least twice the size of the pair's spread.

[ddam3]

Thanks for sharing, this system looks good I will test

[psymantis]

What PSAR settings are you using?

[pip_bagger]

Thanks for posting your system. If I understand correctly (and even the simplest system can get tricky, especially when 'intuition' sneaks in), then you would have had six signals (see attached).

Of these six, I think that the second long would have probably been a loss. The third long may have been a loss or a break-even trade, maybe even a win if you exited at less than 30 pips (30 pips on this one may have been tough to squeeze out, but it was close).

The last short - we don't really know what would have happened as the chart ends mid trade

It is interesting to me that the longs were the 'problem trades' - suggests that a simple trend filter (moving average slope perhaps?) may keep you out of those. In this case your filter would have you taking shorts only.

Your example trade seems to suggest that it is only the color, not the direction of the AC or AO that matters. That is, you will take a short if the AO is red and below the zero line and the AC is red and above the zero line (and the parabolic SAR is above the candle, of course). Is this correct?

[pip_bagger]

here it is.

[6pack]

Ash,

Your contribution is appreciated!

Could you please tell us how you developed this, i.e. why these indicators, etc.?
Also, have you done any backtesting?
Could you be more specific regarding tf and pairs - which work best from your experience?


Thanks again,

[lutitus]

Nice system, congrats for sharing!

Let me ask you... Your rules are:

- Red in awesome, red in accelerator, short in SAR => SELL

- Green in awesome, green in accelerator, long in SAR => BUY

How about an EA? I can program it.

[a777]

Originally Posted by pip_bagger

Thanks for posting your system. If I understand correctly (and even the simplest system can get tricky, especially when 'intuition' sneaks in), then you would have had six signals (see attached).

Of these six, I think that the second long would have probably been a loss. The third long may have been a loss or a break-even trade, maybe even a win if you exited at less than 30 pips (30 pips on this one may have been tough to squeeze out, but it was close).

The last short - we don't really know what would have happened as the chart ends mid trade

If I am not mistaken, according to the rules in the PDF all three indicators need to change (buy to sell or sell to buy) simultaneously on the same candle. So the six entries you designated with arrows did not conform to the rules.

Were you trying to point out that it could still be a successful strategy without the simultaneous change as long as you traded with the trend? It would certainly provide more trades though the winning percentage may be affected.

Ash, can you tell us your winning percentage of trades and pips per month of your system? I am not asking for hard stats but just your estimate. It seems like it could have a very high winning percentage but fewer trades because of the nailed candle rule.

Thanks for showing this to us.

[ChesterB]

that would rule!

[pip_bagger]

Originally Posted by a777

Were you trying to point out that it could still be a successful strategy without the simultaneous change as long as you traded with the trend? It would certainly provide more trades though the winning percentage may be affected.

I'm all for trading with the trend.

I just wanted to point out that the rules for Ash's beauty here could be clarified.

Thanks again, Ash, this is looking great!

[WHTenn]

Nice share....thanks a bunch

[forexmoments]

Thanks everyone for the appreciation.

Little busy right now, but I will answer some of the points raised later in the day!

[ChesterB]

i think a good way might be the psar has to change
but the others dont have to be the right color on
the previous bar...

that would give a lot more entries

[thahotone]

thx a lot for sharing this system

[Ceco-Ku4ev]

doesnt work well on these settings.