Good luck. I'm entering on the cross close rather than open at the moment. Big difference in our entries, 50 odd pips.
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DislikedNice system based on Daily charts to filter out possible bad trades.
However, using Stoch on D1 is not sufficient to filter out bad trades when the market is "consolidating". Would it be feasible to add another indicator to filter out "consolidation"? I was thinking of MACD - enter a trade only when Daily MACD is beyond the 0.0030 levels.
Likewise, we need a better "closure" signal. EMA4 and EMA50 crossing at times isnt enough. Example, this 2 weeks, I got a signal to short @ 1.9950 last Apr 26 but it was quickly stopped out after making almost 100 pips profit.
Today, I got another short signal @ 1.9950 again! currently +50, what to do?
Hmm.. can we use D1 signals to close out trades? ie, currently D1 is bearish, do we hold onto our short until D1 chart shows bullish stoch (or MACD) signal ?Ignored
DislikedHas anyone ever tried SHI channel and CCI for filters?...
this is just a suggestion.If I am wrong please correct me.. refer to the attachment.
1. enter here
2. exit when the CCI crosses 0 ( buy = cci crosses below 0, sell = cci crosses above 0 ).I found out that you will get an earlier exit signal compared to the MAs
3. Signal came out but reversed when it touched the SHI channel
4. Same as #3Ignored
DislikedGood luck. I'm entering on the cross close rather than open at the moment. Big difference in our entries, 50 odd pips.Ignored
Dislikedchowclown....
*Warning - this is my opinion* - be careful not to change too many entry and exit rules too soon... any method needs time... otherwise you may fall into the trap of "curve-fitting"...
a few weeks isn't enough time to truly test out an idea. it needs months at least. i am using the standard method laid out in post #1 and am still in short on cable and at present up 22 pips.
cable trades so far for me with this method +86 (i saw resistance and exited early, waiting for the cross would have given me +207 ... no-ones perfect), and -50, and this trade.. open.Ignored
Dislikedup 50 pips now... all good.
i like this method... it involves patience (i.e. waiting for the 13 to cross, the bar to close) which is something i am learning is important.Ignored
DislikedHi,
Somebody mentioned earlier that this system is similar to Rob Booker's 5/13/62 system. I do not want to confuse this thread with another system, but perhaps looking at the similarities and differences may help to make Vynner's system a little more effective. So I will outline the ideas here briefly.
Essentially, Rob Booker's system is :
(1) Watch for 5 EMA crossing 13 EMA
(2) Then wait for 13 EMA to cross 62 EMA
So far it sounds quite similar to Vynner's system. But Rob Booker also adds this :
(3) Wait for the 13 EMA to continue to move approximately 30 pips away from 62 EMA in the expected direction (this obviously makes the 13/62 cross more reliable)
(4) Wait for the 13 EMA to retrace near to the 62 EMA, then enter.
One of the main differences between Vynner's and Rob Booker's systems is that Vynner is optimized for 4 Hour charts, but Rob Booker is optimized for much lower TF - generally around 5-30 minutes.
I wonder if Rob Booker's filter (step 3) and retrace (step 4) could be useful in making Vynner's system more effective? Perhaps not, due to the difference in timeframes. Nevertheless, it may be worth checking... What do you think?
Regards,
JinIgnored
Dislikedhi ryanmel,
Could you post a pic with your chart and the 13/50 cross on close. Just need to compare with my own chart.
Thanks.Ignored
Dislikedcan't work out how to screen grab with gft or this notebook, my pc is on a truck across the country with the rest of my belongings (mid-move)...
my chart uses 00:00GMT for the daily bar, and I entered on the open of the 04:00GMT 4H bar yesterday 2nd May. (1.9943) hope this helps.Ignored
Dislikedjin,
Does the setup, for the 5 minute chart, that you have below, occur every day for the gbp/usd?
thanks,
hiltonIgnored