trade chf-yen
tp1 one posi closed 99,47 30pips
tp2 two posi sl of entry 99,17
livetrading
kittiman
tp1 one posi closed 99,47 30pips
tp2 two posi sl of entry 99,17
livetrading
kittiman
Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies
Day Trading system - Simple system to make money 51 replies
Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies
My Simple System (Can we automate this system?) 96 replies
An Easy System (With the help of ES Trader - Another Simple System) 13 replies
DislikedIn a few trading classes I have taken that always talk about once you have your price projection plan on cashing out at 80% of that since the last 20% is always the hardest to hit. Maybe we can apply this to that MPE thing you mentioned before. Would be interesting to see what you come up with and that 30 pip stop may move to a 55 pip stop and hit 75% of the time which makes back to the "simple" system again without throwing fib lines etc back into the mix. I dont know much about this MPE thing but will be doing some research into it. Having a set amount for each pair could be nice then when one setups up you set stops for each pair and not just a generic one for all system. Beachbum added an Average true range to another system and it helped target it a bit better.Ignored
DislikedRESULTS: (PAPER TRADE)
09980512 GBP/USD 100K
8/5/07 3:33 PM 2.0391
8/5/07 7:18 PM 2.0431
+400.00 USD
GBP/USD 1 lot opened as above . . . closed as above
SL: 2.0301 (-90 pips)
TP: 2.0431 (+40 pips)
I can see those palm trees swaying in the Bahamian Sun! Only kidding, this trade was taken on a Sunday (and on paper!) However, the setup looked acceptably good to me coming out of the weekend (based primarily on the SIMPLE system rules and daily chart.)
Thanks THING!
Best Regards, KIgnored
DislikedHello guys,i'm new one on this thread,so, just want to say that now we are waiting for chf\jpy up-move,am I right?
Ok,but i face some problem, i've backtested April and May of 2007 gbp\usd and i didn't get such results as the author speaks. Look at the attach.
1. We have 2 bears candles so,according to the system we sell gbb\usd with SL 90 pips. And we got this -90 pips.
2.We have 3 bulls candles, so acc to the system we buy gbp\usd ang got (max) 335 pips.
For April we got 335-90=245 not 550
3. the same...we got -90
4.the same we got +66
The whole -24 ... not -280
Pls tell me ppl what i'm doing wrong, or the author just "paint" this test.ThxIgnored
DislikedIf the SIMPLE rules have to be modified slightly (for example, adding the 50EMA or checking the 4-hr chart with some simple analysis) . . . that is one thing.
However, if we have to add, and add, and add Fibo's, TL's, etc. . . . well, we might as well go back to the FORUM and pick one of those OTHER complicated methods. My point, the rules of this system (in whatever form they ultimately take) should stand on thier own, with internal logic and some degree of repeatability and positive sucess (50%-60%-70%-80%????) And please know that I am not in favor of a strictly mechanical trading model . . . we have minds and ideas apart from just pushing a button on the 4th bar open!
What I am trying to do, and I know others are as well, is to identify a few SIMPLE indicators that will help with our 4th day trades (in terms of overall direction, appropriate SL values and TP.) I hope that we can identify a few, talk about them, evaluate them, and use them to make positive pips.
Best regards, KIgnored
DislikedJust for information . . . June-July 2007. If this pair ever trends like this again . . . it will be a good SIMPLE pair to track and watch for.
Sorry for the very crummy screen shot of the daily (NetDania.) Until the subprime woes hit the US markets . . . it was presenting some very good SIMPLE system setups (have not looked at the 4HR charts within these apparently good looking daily setups.)
http://www.forexfactory.com/attachme...1&d=1186421071Ignored
DislikedI share you opinion that simple system should have simple rules. But the only indicator (if it's suitable to call PB an indicator) I used above (the most important) is PB and I haven't seen a better sign of reversal movement. All indicators lags but price doesn't and PB is an price action. However if this makes this simple system too complicated for novice traders (like myself) let's try to keep it as simple as possible. If it gains consistent profit over the time then certainly i don't need any TL, Fibo and other stuff.
We need a bad trade to figure out what indicator is able to filter out this losing trade. Looking forward to it :
Best regards,
TT.Ignored
DislikedHere are some broker daily end times taken from a post referenced early in this thread:
IBFX: GMT
CoesFX: GMT +3
MetaQuotes: GMT +2
FXDD: GMT +3
Fibo Group: GMT +2
MoneyTec: GMT +3
Orion: GMT +4
Alpari: GMT +2
Forex LTD: GMT +2
Real Trade: GMT +2
CFGTrader-Demo: GMT+2
North Finance: GMT+2
I am about to open an FXCM account, so will re-confirm what they told you too.
Might be useful if other people reading this thread copy that list and repost it with their own broker start time.Ignored
Dislikedi couldn't get the ea working for this system, so i make the order manually.
I trade 3 lots - so I bought 1.5 lots and put a stop loss of +30.. .My question is - How do I make the 2nd half trigger on the +30 target and define the 2nd trade's TP and SL?
I use MT4..
Thanks a lot..Ignored