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Channel MA Short-Term System

  • #21
  • Oct 17, 2017 8:40am Oct 17, 2017 8:40am
Mickey - I am new to this so please excuse my "noobness". I was working on your plan this morning. Put the indicators on my chart and found this....
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If there was a SHORT ENTRY and some profit and then a sharp move against me, I would have stopped out and if I had used a trailer, at say 50 pips, my loss would have been fairly small. The system did not signal to go LONG with the spike up (good thing) and then it looks like there would have been another SHORT re-entry, which is still running for great profit. Am I reading this correctly?
Marc -- Saint Louis, MO -- USA
  • #22
  • Oct 17, 2017 8:45am Oct 17, 2017 8:45am
Let me give you guys a sample of how I use the system - taking today as an example.

EURUSD
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Today we had a very early signal reconfirmation (because the original signal short is from October 12. I don't trade at those hours, so I found it in the morning at 1.1778, some 12pips lower than the signal. Since a 20pips stop around 1.18 was at the time on the other side of the channel, there was an opportunity to short intraday. Of course, if the trade had been taken at the signal reconfirmation, or on Oct.12, we would have done nothing else than watch the pips grow

GBPUSD
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USDJPY
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GBPJPY
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  • #23
  • Oct 17, 2017 9:02am Oct 17, 2017 9:02am
Quoting forexbandit7
My first trade with this sys, closed partial, today most of the pairs are ranging, will forward test it and post it here. {image}
Well done Bandit. If you had caught the signal when it originally came out, you'd have made twice as much good job.

Guys, I posted indicators and template in the first post. The arrows are my improvisation, from some indicator I found here on the factory. Would be nice if we designed another one
  • #24
  • Oct 17, 2017 9:05am Oct 17, 2017 9:05am
Quoting mario777
Very nice of you for sharing! Mickeymouse, what does it mean delayed entry? How do you enter on the delayed entry?
See the first post, and the chart examples. The delayed entry is simply an order to sell or buy (according to the signal which came out too far from the channel), when price reaches the level of the signal MA (33EMA applied to close). Or you can manually take it, as close to the channel as possible.
  • #25
  • Oct 17, 2017 9:19am Oct 17, 2017 9:19am
EU trade
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Early bird gets the worm
  • #26
  • Oct 17, 2017 9:36am Oct 17, 2017 9:36am
Quoting forexbandit7
EU trade {image}
Bandit,
Thanks for posting. It seems to me that in both your posted trades you entered late (long after signal MA crossed the channel MAs). What's the reason? What other considerations delayed entry? Does MickeyMar have any thoughts on this?

Thanks.
  • #27
  • Oct 17, 2017 9:40am Oct 17, 2017 9:40am
One suggestion would be to ignore signals prior to either Frankfurt or London open, regarding use of EA. Perhaps with the exception of Aud, Nzd & Yen pairs. Generally the distance between 55's is 7-10 pips. Adding the 33 cross, & close, maybe enough of a buffer, even during non major market times.

MM, you, apparently, have been tracking this for a while. What is your opinion on this?

Sorry, I see you already answered this. Did not refresh thread after being open for a few hours.
  • #28
  • Oct 17, 2017 9:40am Oct 17, 2017 9:40am
Hi MickeyMar,

Thanks for sharing your strategy, it looks very interesting!

Attached is a quick first version EA that follows your rules, with a hard SL an TP for this first version. It looks profitable on some pairs but I'm sure we can improve it a lot
Please check it and let me know if I understood all your rules correctly.
Attached File(s)
File Type: ex4 DD-channel-MA-1.0.ex4   26 KB | 672 downloads
  • #29
  • Oct 17, 2017 9:41am Oct 17, 2017 9:41am
Quoting MidnightRun
{quote} Bandit, Thanks for posting. It seems to me that in both your posted trades you entered late (long after signal MA crossed the channel MAs). What's the reason? What other considerations delayed entry? Does MickeyMar have any thoughts on this? Thanks.
ill wait for a retrenchment of the price on 5M and i dont sell or buy with market order,i always go with pending sell/buy, this my way of entering the trade , nothing to do with the original method
Early bird gets the worm
  • #30
  • Oct 17, 2017 9:55am Oct 17, 2017 9:55am
Looks interesting - subscribed - thanks for sharing
Now trading live
  • #31
  • Oct 17, 2017 10:19am Oct 17, 2017 10:19am
Yes, it's true Bandit entered late but I'm assuming he doesn't sleep on the PC, so probably he saw the signals late and followed them as he could. I do that too, as I said I have no EA so I can't be that precise, I've always used discretion. That's what he did, too.

Marc, yes, the signals you point out are correct. You see... if we had used the EA, probably we'd still be in that original EU short - but in discretionary trading you could have taken some pips first, then be stopped out, and then re-enter on the reconfirmation (new cross) and go all the way down to where it is now, close it now, or keep it running. Both approaches are ok. I tend to favor the first approach, because entering with the FIRST signal and staying in, together with other 15-20 pairs, could take our equity way up, and when we hit say, 10% of the account, or more, we can close them altogether and then re-enter signals as they re-emerge. We will explore this scenario with the EA made by Damien, which I'm testing now. Thanks Damiend!

Diamond - yes, would be nice to have an hour filter, that we can use for non-jpy, aud, nzd and usd pairs. I don't really need to take a signal on EURGBP in the middle of the Asian session...

Another useful filter would be the option to use just "first signal" (the first time market changes direction, and not re-enter on the reconfirmations after that - new crossovers), or enter a new lot for each crossover, even if it just reconfirms the original direction. Could we put that on, Damiend?
  • #32
  • Oct 17, 2017 10:37am Oct 17, 2017 10:37am
Hey Mickey do you have to monitor the trades or can you open the trade at start of London session for example and close at NY close??
  • #33
  • Oct 17, 2017 10:48am Oct 17, 2017 10:48am
The EA should have one very important feature, without which the results would be a total mess (I don't know if the current EA has it, because i can't see the code):
the signals should be considered valid only if they are PRINTED on the chart, meaning only AFTER THE M15 CANDLE CLOSE. Many times the indicator i have gives a signal, only to dissapear at the close of the candle (because price goes back before candle close and the signal MA pulls back as well, invalidating the signal).
Also, an option "no tp, close at opposite signal" (and reverse), and the possibility to combine with a fixed (200pips fixed TP but close on opposite signal, for example).
What do you think Damien?
  • #34
  • Oct 17, 2017 10:53am Oct 17, 2017 10:53am
Quoting rare
Hey Mickey do you have to monitor the trades or can you open the trade at start of London session for example and close at NY close??
interesting thought!
I have always monitored, because I've used discretion. But with an EA, we won't have to. However, it would be nice to know what would happen if we traded the system the way you suggest... like: open a trade on the current active signal and just follow from there all the way until time "x" (end of session), when all would be closed.
The EA could maybe have an option "open trade immediately", which would make the EA take a trade in the direction of the current active signal, without waiting for a new one or a reconfirmation, as it does now. But probably i'd still prefer the "entry at signal" option, because a good entry is essential for the system to work well (its money management depends on an entry close to the channel).
  • #35
  • Oct 17, 2017 11:08am Oct 17, 2017 11:08am
I reset my balance in my Paper Trade account to $49,653.64. I added three new charts, all 15M...USDJPY, EURUSD, and GBPUSD. These are the three Mickey mentions as his favorites right now. I have all three charts on AutoTrading. It is now 11:07 AM EST (Chicago Time). Just like fishing with a tilt up...I'm gonna go to lunch and when I come back, maybe I caught something!
Marc -- Saint Louis, MO -- USA
  • #36
  • Oct 17, 2017 11:28am Oct 17, 2017 11:28am
Hi Mickey,
Great way of escaping ranging market conditions. What is the reason for the EMA? A LWMA gives an earlier entry.
  • #37
  • Oct 17, 2017 1:14pm Oct 17, 2017 1:14pm
Quoting wifiguy
Hi Mickey, Great way of escaping ranging market conditions. What is the reason for the EMA? A LWMA gives an earlier entry.
The reason has to do with what you just mentioned - escaping ranging markets. If we enter too quickly we may be too early, or not escape a choppy period. My main objective was to keep the system COMPLETELY OUT when the pair I trade is being choppy

The EA works, but the entries do not wait for the candle close (first fix we need to do) and the EA takes reconfirmation signals (we need to keep this as an option, but add a filter to only trade FIRST signals, which is the core strategy).

Can't wait to see a delayed entry in real time, I'm excited
  • #38
  • Oct 17, 2017 1:41pm Oct 17, 2017 1:41pm
I just applied the template to a few markets on Global prime M15 charts. Looks GREAT! I like that it's simple. I had to fight the urge to put a few more confirmations in there and just let the cross speak for itself.

Thanks so much for sharing. I'm subscribed and will add value when I can
  • #39
  • Oct 17, 2017 2:19pm Oct 17, 2017 2:19pm
Quoting stubish
I just applied the template to a few markets on Global prime M15 charts. Looks GREAT! I like that it's simple. I had to fight the urge to put a few more confirmations in there and just let the cross speak for itself. Thanks so much for sharing. I'm subscribed and will add value when I can
yea, I know what you're saying... I thought of a thousand additional filters myself but in the end, the simplicity is its advantage. One filter only I found to be worth while and making results more "stable" in the mid-term and long-term: taking only the signals confirmed by the H1 system as well, which means you would take on M15 ALL there is in the same direction as the H1 cross, and ignore the rest. But I'd rather not insist on this filter yet, we will have time to explore it later.
  • #40
  • Oct 17, 2017 2:33pm Oct 17, 2017 2:33pm
Quoting MickeyMar
About Me I have been trading for 12 years now, and for most of this time I've made my living from the market, or from market-related business. I have traded many systems, of mine and of others, with various levels of success. For about 4 years I have settled on this system, which fits my financial objectives, my trading style and my psychological profile. I have consistently been successful trading it, and for years I felt no need to try any other on my live accounts. I have decided to make the step towards sharing and discussing it, for 2 reasons:...
Thank you very much Mickey for this great strategy. I have another strategy which I use every day with good success, but your strategy I a good addition for me to filter my trades and to find the point, where I have to close my trade... Thank you for that! Good job!!!
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