Disliked{quote} 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 methodIgnored
- #42
- Oct 17, 2017 3:20pm Oct 17, 2017 3:20pm
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} yea, I know what you're saying... I thought of a thousand additional filters myselfbut 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.
On 15 Minutes Time Frame, there are arrows that correspond to the Buy and Sell signals.
Could you please incorporate the same/arrows for other time frames like 1HR,4HR etc...
Thanks
- #49
- Oct 17, 2017 8:43pm Oct 17, 2017 8:43pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
Aaven: on my template (shared in the first post) all you need to do is right click BOTH a red AND a green arrow, and under "visualization" check all timeframes, and it will appear. I simply didn't want signals on all TF, that's why I removed them.
Or I think Sedric's posted indicator is already set for all timeframes, so you can use that instead. mine is actually an improvisation
But guys, make sure you take only signals PRINTED on the chart, where the crossover happened - do not trade signals on candles not yet closed, cuz you will experience a lot of bad entries.
Kaiser: yea, you got it right. The move on GU was clearly bear, but the system will have you wait for an entry close to the channel, simply for risk management purposes. If you look at my GU chart from yesterday, you will see that the original re-entry order would have been higher, but since the MAs traveled lower, the entry was possible lower, after a few hours passed. It's important I think that the EA take into account the position of the signal MA (33) and enter once price hits it, anywhere that might be, as opposed to placing an order immediately at the level of the 33EMA at the moment of the delayed signal. Because the order may never get filled that way, or if it does it may be at a weird, very high level where we would no longer be interested to take it.
Diamond: thanks for your contribution. I will not alter the setup or enter other filters for now, because it would be the beginning of a whole new learning curve for me But in time, once we get this system running on EA with optimal settings and make a minimum of 500pips monthly (same as I usually make trading manually) I'll be more than willing to try out refinements like the one you proposed.
I am currently trying out the EA on all pairs, and take notes. We need to make adjustments &add some filters, but it's a very good start. Also, I am yet to see a delayed entry (these are very good, actually, as they happen within strong moves, in the direction of the move, at a good enough level). I will post all observations in one single post, once done, so as not to spam the thread.
Or I think Sedric's posted indicator is already set for all timeframes, so you can use that instead. mine is actually an improvisation
But guys, make sure you take only signals PRINTED on the chart, where the crossover happened - do not trade signals on candles not yet closed, cuz you will experience a lot of bad entries.
Kaiser: yea, you got it right. The move on GU was clearly bear, but the system will have you wait for an entry close to the channel, simply for risk management purposes. If you look at my GU chart from yesterday, you will see that the original re-entry order would have been higher, but since the MAs traveled lower, the entry was possible lower, after a few hours passed. It's important I think that the EA take into account the position of the signal MA (33) and enter once price hits it, anywhere that might be, as opposed to placing an order immediately at the level of the 33EMA at the moment of the delayed signal. Because the order may never get filled that way, or if it does it may be at a weird, very high level where we would no longer be interested to take it.
Diamond: thanks for your contribution. I will not alter the setup or enter other filters for now, because it would be the beginning of a whole new learning curve for me
But in time, once we get this system running on EA with optimal settings and make a minimum of 500pips monthly (same as I usually make trading manually) I'll be more than willing to try out refinements like the one you proposed.I am currently trying out the EA on all pairs, and take notes. We need to make adjustments &add some filters, but it's a very good start. Also, I am yet to see a delayed entry (these are very good, actually, as they happen within strong moves, in the direction of the move, at a good enough level). I will post all observations in one single post, once done, so as not to spam the thread.
- #56
- Oct 18, 2017 4:15am Oct 18, 2017 4:15am
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
- #57
- Oct 18, 2017 4:18am Oct 18, 2017 4:18am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
Aaven: on my template (shared in the first post) all you need to do is right click BOTH a red AND a green arrow, and under "visualization" check all timeframes, and it will appear. I simply didn't want signals on all TF, that's why I removed them. Or I think Sedric's posted indicator is already set for all timeframes, so you can use that instead. mine is actually an improvisation
Please share your testing and let's make some pips together!
I personally can see 4 clear signals to enter on the chart USDJPY. I missed second signal, so entered after third one (shown on screenshot).
Decided to close it manually because of possible pull-back movement, resistance level ahead + ADR was about 100% already.. greed is healthy but it has ability to kill)))
Result for today +50pips (R/R = 1/2.5)
Hey Mickey, Following your system I am overflowed for the amount of signals I see today. Could you post the list of pairs you use to watch? Another doubt. In case you take a trade and the other side of the channel it's just, let's say, 18pips, do you fix there the SL or do you still fix a 40 pips SL? thank you Toni
Forexdaist - you can use any pair you want, but not all will perform equally well, and it's possible the pair you choose to have a bad period right when you start. Patience is needed, as always in trading. I like the majors because i have a smaller spread on them, i usually don't like the CAD pairs because they make frequent sudden large moves against the trend - but I've seen cad pairs giving hundreds of pips on the system... so you never know, it's all about personal preference and patience. This is why i want to automate and spread over many pairs, to be able to compensate losses between pairs and benefit from more rallies.
For starters, I'd choose a pair I know at first, and go from there.
Fotolia: you illustrate very well my approach, of keeping in mind your own criteria when you trade, and take profit when you have it, if the profits are reasonable and if the charts are showing you signs of trend exhaustion. 50pips with a risk of 40 is still not bad, and besides you can always go back in at the next pullback to the channel
Damiend: thanks for your patience and effort in helping us all with the EA.
First signal: a signal that changes the direction of the trend, the first BUY signal after a SELL or a series of SELL signals, or the first SELL signal after a BUY or a series of BUY signals.
Reconfirmation: a signal of the same kind as the previous one: BUY when the previous signal was also BUY, or SELL if the previous signal was a SELL.
Would be great if the EA could have 2 options:
1) to only enter ONE position, on the First signal, and then ignore the next signals of the same kind (so as not to have a too large exposure in that trend), or
2) enter ALL SIGNALS, as they come, regardless of whether there is an open trade in the same direction or not.
Hope this clarifies this issue. Here's a picture:
Here's what I have now on my demo with the EA activated, all pairs except exotics:
