EOD trading system

Hi Due to personal circumstances im finding it very hard to day trade ( if you look at my threads I have posted quite a few of my day trading systems here) so Im going to put my energy into my eod systems this particular system showed great promise made me bundles of pips and was posted on Forex factory here is the link

http://www.forexfactory.com/showthread.php?t=61554
I will post system and rules and template over next few days,Im not being awkward its just time is against me atm..

Im going to check out the losing trades and see if a certain rule change will fix things...I think it will

Paulus

Hi Paulus
Thats really nice!!

i am already countinue visiting your thread and impressed with High Profit pips..

waiting all good things from you

Whatever you have will be well worth waiting for. I think most of us know it's going to be very interesting AND that you're not going to post any half-ass method.

Looking forward to seeing your system soon. Looks great!

can't wait! Thanks!

I honestly believe that to make long term daily trading decisions you need to trade a mechanical system perhaps with paper rules but carved in stone.

In Futures I'm 100% mechanical but my platform cannot access all the swaps I want I therefor downloaded Meta Trader

TP ( close all)

I do have a split TP strategy also but on this post I will show just the close all scenario

Targets are worked out by taking the ATR of the last 5 days and adding that average points total to my 'fill' price.My thinking behind this

If the last 5 days have had an average move of 80 points why set a tgt of 30 ?

If the last 5 days have had an average move of 30 points why set a tgt of 80 points ?

Example

Measure high to low of each day for signal candle and 4 days previous giving 5 days

We end up with

80 +70 + 100 +120 +30 = 400 now divide by 5 = 80

We now have a TP of 80 pips which is the average this swap has moved in the last 5 day

Our fill is 20000 so ur TP is 20080 easy peasy lemon squeezy

A 'close all' on 5 day ATR is quick we only want a daily average move in our direction to close dont forget .. not much to ask ...with 10 or so swaps open you will be spoilt for choice and turning your money and account over which is the name of the game.

Stop

Stop is a couple pips below last swing low for longs last swing high for shorts

When to take a trade

What ever works best for you in your time zone I take 9pm here in the UK approx although my daily candle wont close for another 3 hrs ( midnight) Im sound asleep in nods vile by then so 9pm is fine for me its swing and rounds abouts on the fill it all evens out.

Indicators

CCI
set to 40 HLC/3 line at 0.00

Stoch
set to K - 5 D - 3 Slowing -2 Price field low /high ma - simple ....line at 50

Method

This is simple stuff but with the stop at swing high or low we have a good support or resistance..also we only want an average move in our direction.

Like all my systems identify the main direction and enter on a retracement

If CCI above zero we look for long CCI below zero we look for short.

Short

CCI is below 0.00 stochastic moves above 50 and ticks down the tick down hasn't got to finish below 50

Enter on a red candle,if green you can enter on the following day but no more and only if red

Long

CCI is above 0.00 stochastic moves below 50 and ticks up the tick up hasnt got to finish above 50

Enter on a green candle,if red then you can enter the following day but no more and only of green

Examples

Here is a chart showing entries this example is on usdchf, i have highlighted one long and short to show position of indicators

The blue lines are stop positions not exact but it gives you an idea of the swing high low stop.

Without doing the maths we have a def loser on the 2nd arrow the rest look winners..

I will post more and answer question when i can this method made me 6000 pips not so long ago I have moved the stop to swing high low FROM signal candle high low and it seems better

Please use money management a large stop doesn't mean a large loss it means you trade smaller.. protect your account please traders...hehe

Cheers

Paulus

Do u mean below 100 ?

As for Stoch, should it be set to

set to K - 5 D - 1 Slowing -2 Price field low /high ma - simple line 0.00

Instead of Stoch
set to K - 5 D - 3 Slowing -2 Price field low /high ma - simple line 0.00

I saw ur attachment stoch with only 1 line, so "D" should be set to 1 instead of 3 ?



And should we set TP to 75% of 5 days ATR according to ur "Robot trading " thread ? If we TP 5 days ATR, it's very big pips for pairs like GBPJPY (over 500 pips).

Question: If TP did not hit in 1 day, we should move the SL to the EOD swing high/low and move TP to include the new EOD candle ?

According to ur attachment, on start of day 7-Oct was a signal to go long (6-Oct above CCI 0, Stoch below 100 pointing up, green candle) and it was a losing trade with -200 pips. but it was not highlighted on ur attachment. Basically, the trade on 7-oct was buy at highest high.

I randomly back test and i saw similar trades. Buy at HH and sell at LL.

Thanks for sharing your system Paulus! :-)

Can you please post your template when you get a chance? TIA!

Thanks for sharing your strategy. I like the simplicity of it.

One question. If the entry candle is a spinning top with only a few pips between open and close, would this be OK or would you wait to see the color of the next candle?

Thanks

Hi Friend Thanx soo much for sharing amazing sys.

i just confuse with my indicator in MT4
are they the right one or no..
becuas i cant find in CCI this data HLC/3
also in Stoc i cant find this field low /high ma -
and simple line 0.00 in your chart 50 not 0.00

Please Correct me if i am rong ..
and if you could attach template will be more better and aprecciated.

We are waiting Template.. I hope to get it soon ..

What do you think on this Chart AudCad

we shoud wait white candel to enter ?

did i get it rithe????

No. I think the setting were meant for daily chart ? If u wanna trade 15M TF should change ur setting

Yikes..ok let me answer one of these at a time sorry iv confused things ..

J84

Sorry my fault when the CCI is above 0.00 we look for longs then we need a pull back to enter so we wait untill the Stoch is below 50 not 0.00 im sorry my 1st post will be amended.

Going below 50 just shows us we have a reasonable pull back the stoch then ticks up and as long as the CCI is above 0.00 and the candle is green thats our entry

My stoch is set to 532 price field low/high MA simple

The only line we want showing is the Main so set Signal to 'None'

I go for 5 day ATR I have attached the chart for the last 2 signals on GBPJPY 1st signal had a target of 703 pips hit in 5 days 2nd signal had a target of 528 pips hit in 1 day

Stops of last swing high are marked and never threatened

J84

No I leave stop at the original position until TP is hit as close all the point of the stop staying is to give the swap room to breath.

On the 7th Oct the CCI was above 0.00 but the stoch was way above 50 it has to come down below 50 then tick up to be a valid entry this not meet the rules and was not a signal

I will ammend my 1st post about stoch the line is 50 sorry

Paulus

Chazbo

This has to be 100% mechanical so if its red its ok even if its just a pip like wise for green.

If we have a long signal and its red you can wait 1 day to see if we get a green candle but thats the max and the CCI has to still be above 0.00

cheers

Paulus

Still counfuse .. Are explain the entry which is mintioned by two arrows ?? they are for short not long !!

Thnx.

To go long, CCI above 0 , stoch below 50 tick up, green candle

To go short CCI below 0, stoch above 50 tick down, red candle

Is that correct ?

Another question, can this method be used on other TF. Like 1H TF ?