Nb 1.0 trend trade system
I finally have finished my trading system for trading with the new USA regs. It is a radical departure from my previous systems. It is simple, to the point and has tested profitably. I think you can grasp the basics quickly and easily. The unique difference between this system and other systems is I define what a trend is first, then I trade the trend based on my definition. This gives you solid easy to undertand trades that are easy to find and pick from. You then turn on the EAs and let them enter the trade. Good luck.
1. page 2 post 22-26 gives a summary of the system to help understand the basics. Topics include a summary of a trade scenario, SL placements and what happens in a ranging market.
2. Page 5 post 73 I deal with the issue of the TMA lines moving over time with price action and how it doesnt affect the trade signal given in real time.
3. Page 6 posts 78 to 81 I deal with psychology of trading and pyramiding trades with the trend. I also deal some with understanding fundamentals of price action.
4. I added Steve Hopwood's MPTM set at 15+3. To learn how to use all the gadgets see his website at. Otherwise just put it on a separate screen and it will move every trades SL to +3 after price goes 15 points into profit. Keeps a winner from turning into a loser. I use this when I am not around my computer to manage my trades while I am gone. Put the EA in the EA folder and the template in the first template folder. Here is Steve's thread on how to use it and what it does.
5. Page 21 post 308 has EAs that work with ECN brokers. Post 313 gives how the TMA works. Post 315 has a dashboard developed for the system.
6. page 23 post 343 I talk about how the 5x5 MA works and the philosophy behind it.
7. Page 28 posts 413 to 417 the TMA issue came up again. I dealt with it and how you form a strategy.
8. Kumars wrote a good indicator showing the angle of the TMA to the 240MA. You find this very helpful when dealing with converging type trades. They tend to have lower pip runs. Page 8 Post 119
9. An experienced trader gives a warning why this system will not work and why you are wasting your time using it. You can read and decide for yourself. P. 28 post 431.
10. Pg. 36 post 528 I discuss using the TP EA template and EAs
11. pg. 46 post 670 I added a test 4H version of this system. If it tests out I will post it on page 1.
12. pg. 46 post 671 Red White blue indicator is explained. The sto crossing the MACD.
NB 1.0 trend.zip
New year, new system ........... thankZ
Thank you for a well thought out and prepared system.
Thank you and looking forward to test this new system
I'll be giving this one a try. I still use 5.3 on my live account (with an overseas broker). I'll be running this on demo and try to report back regularly.
great read ...explained very well
looks very simple will give it a try
Great thread, going to test Thanks
Is recovery on bad trades still that same as the other system?
Thanks for the continuing contributions.
Happy new year!
subscribed!!!!! Cant wait to have a play, been a long time lurker of your work bob and trade the 5.3 / 6.xx variations.
I'm back to trading after a very long hiatus. and look forward to trading this system which follows the trend after a retrace. In my mind, the best way of all to trade & with this longer time frame and ea, should be a fantastic way to trade. I foresee a long lived thread, and glad to have started at the beginning instead of having to read a few hundred pages. As usual, excellent work on conceiving the system and presenting it to make what you're trying to say easy to understand.
Onboard with you and participants.
All the best to all in this New Year.
I have always liked your ideas but as I only trade trends i never used your systems (though excellent) before.
I like the well thought out explanations.
Happy New Year
Thanks for new thread and I think it's profitable as it mix between mechanical and systematic
I will definitely look into this. Always big respect for Bob and his trading ideas.
New Year - new System
happy new year, I am working with your 5.3 system live and succesful.
Skipped the 6.x as the thread was too confusing, and now you are coming up with a complete new varation.
Looks great and I will start on a demo on Monday.
Did you already investigate if this systems seems to be working on other pairs?
Woohoo, i'm happy to be able to get in the beginning thread of the great Mr. Bob new system. I will be testing this intensely. Thank you Bob
Very nice. I'm going to have a few questions. The first two, I think, are related.
Your second criteria for trend definition is that price be above the 5 in an uptrend or below the 5 in a downtrend. However, when you look at the trade examples, it's pretty clear that the trader takes action only when price is below the 5 in an uptrend, or above the 5 in a downtrend. The first question is whether I'm understanding this right. But the second question may have my own answer.
You say that when the price touches the TMA outer band, you put on the 5X5 EA. But you don't say what, exactly, this EA does. I haven't inspected it yet, and would appreciate your explanation of it. I'm thinking that it waits until price again moves above the 5 (in an uptrend), or below it (in a downtrend) to enter the trade. If I'm right in my guess, that means the trade occurs when your definition of the trend gets reconfirmed.
Also, even if I'm right, I'd like to know what condition you are using for the entry on the EA. Is it at the cross, or at the close of bar, or something else?
Anyway, I'm looking forward to testing it, and hope you don't get too frustrated with my continuing stupid questions.
Subscribing. Thanks alot for sharing your new trading strategy, hopefully I can keep up with it by starting at the beginning.
Looks to be good,
From your observations so far, is there a decent way to tell, with these same tools, whether the market is ranging, as opposed to in a trend? Many of us are already aware of a system that tends to work will in ranging markets
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