Hi Everyone,
Just read through the 4 pages to see how this is going.
I would like to share my experience with you and see if you can help me improve it.
I have been building MetaTrader4 experts to run this system.
What we, my son and I, have come up with is as follows.
I am only going to describe Long trades, shorts just reversed, funny how may books double in size just because the author repeats the reverse.
Based on daily and hourly charts.
Daily:
a) Trend is if daily lows are > 13SMA and today trading higher than open, long trades only are taken taken
Hourly:
a) TD lines draw on highs with 2 lower highs either side, to the left, oldets ighs, can be equal highs
b) Hourly trend is defined by 55 SMA again hourly lows to be greater than SMA for uptrend
Trading only when both Daily and Hourly are trending up
Also we look to enter following a retracement to the 55 SMA this is potentially variable dependant on pair and can be 34 SMA, not totally figured this out yet. Volatility seems to affect this.
Stops are 55 SMA until profit hits 50 points and moves to break even, at 100 points profit we use 34 SMA. Also available there is a manual SL & TP facility
We are also looking at compounding trades as the trend continues today we made over 500 points profit using this method. Started but have withdrawn this at present. I will look to reintroduce when I am happy with other aspects of the system
[/i]
IS THERE ANY IMPROVEMENTS ON THIS STRATEGY POSTED BY STEVE ON PAGE 4, HIS SYSTEM SOUNDS GOOD BUT I DON'T UNDERSTAND HOW MANY SMA HE USES AND WHAT CHART HE USES FOR TRENDLINE BREAKOUT.
AUTOMAN LIKE YOU SAID NOT ALL PAIRS WORK WELL WITH BILLS STRATEGY DO YOU THINK EUR/USD AND GBP/USD WILL WORK WELL WITH THIS STRATEGY?
Just read through the 4 pages to see how this is going.
I would like to share my experience with you and see if you can help me improve it.
I have been building MetaTrader4 experts to run this system.
What we, my son and I, have come up with is as follows.
I am only going to describe Long trades, shorts just reversed, funny how may books double in size just because the author repeats the reverse.
Based on daily and hourly charts.
Daily:
a) Trend is if daily lows are > 13SMA and today trading higher than open, long trades only are taken taken
Hourly:
a) TD lines draw on highs with 2 lower highs either side, to the left, oldets ighs, can be equal highs
b) Hourly trend is defined by 55 SMA again hourly lows to be greater than SMA for uptrend
Trading only when both Daily and Hourly are trending up
Also we look to enter following a retracement to the 55 SMA this is potentially variable dependant on pair and can be 34 SMA, not totally figured this out yet. Volatility seems to affect this.
Stops are 55 SMA until profit hits 50 points and moves to break even, at 100 points profit we use 34 SMA. Also available there is a manual SL & TP facility
We are also looking at compounding trades as the trend continues today we made over 500 points profit using this method. Started but have withdrawn this at present. I will look to reintroduce when I am happy with other aspects of the system
[/i]
IS THERE ANY IMPROVEMENTS ON THIS STRATEGY POSTED BY STEVE ON PAGE 4, HIS SYSTEM SOUNDS GOOD BUT I DON'T UNDERSTAND HOW MANY SMA HE USES AND WHAT CHART HE USES FOR TRENDLINE BREAKOUT.
AUTOMAN LIKE YOU SAID NOT ALL PAIRS WORK WELL WITH BILLS STRATEGY DO YOU THINK EUR/USD AND GBP/USD WILL WORK WELL WITH THIS STRATEGY?