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Simple Daily Trend Reversal Trading System

  • #2,141
  • Jan 8, 2018 10:03am Jan 8, 2018 10:03am
Had a sell signal GBPJPY, stopped out after almost two hours.
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  • #2,142
  • Jan 8, 2018 10:06am Jan 8, 2018 10:06am
Quoting johnsmith2nd
Had a sell signal GBPJPY, stopped out after almost two hours. {image} {image}
I had a GJ this morning that was +20 pips and my TS took profit at around 16 pips. Difference in brokers I guess?
Blessed is the one who takes refuge in Him.
  • #2,143
  • Jan 8, 2018 10:08am Jan 8, 2018 10:08am
Quoting johnsmith2nd
Had a sell signal GBPJPY, stopped out after almost two hours. {image} {image}
My GBPJPY trade is still active so I'm assuming you are using a fixed hidden SL, as mine is set to SL at zigzag.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,144
  • Jan 8, 2018 10:12am Jan 8, 2018 10:12am
Quoting mrdfx
{quote} My GBPJPY trade is still active so I'm assuming you are using a fixed hidden SL, as mine is set to SL at zigzag.
I set the UseRiskRewardRatio's RR_2_1. I thought that would calculate my SL using the formula?
MyOrderHiddenSL is still set to 50, but I thought the R:R would override this?
  • #2,145
  • Jan 8, 2018 10:35am Jan 8, 2018 10:35am
Quoting johnsmith2nd
{quote} I set the UseRiskRewardRatio's RR_2_1. I thought that would calculate my SL using the formula? MyOrderHiddenSL is still set to 50, but I thought the R:R would override this?
Yes but is your SL at zigzag set to true or false? The EA will use either depending what you set.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,146
  • Jan 8, 2018 11:05am Jan 8, 2018 11:05am
Quoting mrdfx
{quote} Yes but is your SL at zigzag set to true or false? The EA will use either depending what you set.
Zigzag set to false..

I take it I should set it to true, then the UseRiskRewardRatio at 2:1 will calculate a stop loss if it's less than the zigzag stop?
  • #2,147
  • Jan 8, 2018 11:30am Jan 8, 2018 11:30am
Regarding the JPY reversals. In situations like this, with long trends, this tactic needs extra caution and analysis. In GBPJPY we are in a long trend in H4 timeframe that started Dec 15th. This was just a retrace of the original trend. But it is very possible the pair to resume the downtrend because the red arrow appeared in a strong resistance area.
  • #2,148
  • Jan 8, 2018 12:03pm Jan 8, 2018 12:03pm
Quoting money123456
There does seem to be a problem with the EA, whenever I change the settings (specifically the trend filter on/off) it either disappears completely or its there but just as an image but not functioning. anyone have the same problem .. I am using 1.18.2
I've the same problem. whenever i change any setting, it disappears.
  • #2,149
  • Jan 8, 2018 12:08pm Jan 8, 2018 12:08pm
Quoting johnsmith2nd
{quote} Zigzag set to false.. I take it I should set it to true, then the UseRiskRewardRatio at 2:1 will calculate a stop loss if it's less than the zigzag stop?
If you have SL at zigzag arrow set = true and you are using the 2:1 RR setting, then the EA will calculate the TP based on the SL at zigzag arrow.

So if there is an order and the SL at zigzag arrow is 45 pips, and you have set a 2:1 RR, then the EA will set the TP at 90 pips.

If there is an order and the SL at zigzag arrow is set = false, then you are using the hidden SL, and you will set the SL you want manually, so if you set it to 50 pips then the TP will be set to 100 based on 2:1 RR.

I hope this is clear.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,150
  • Jan 8, 2018 12:47pm Jan 8, 2018 12:47pm
The EUR has treated us well today

Both my EURUSD and EURGBP trades closed out for wins today
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  • #2,151
  • Jan 8, 2018 1:05pm Jan 8, 2018 1:05pm
Quoting money123456
There does seem to be a problem with the EA, whenever I change the settings (specifically the trend filter on/off) it either disappears completely or its there but just as an image but not functioning. anyone have the same problem .. I am using 1.18.2
Are you referring to the sma 200? When it is set = true it will display on the panel, if it set = false it will not be visible on the panel as it is not being used.

The same goes for the news filter. If it is not being used it will not be visible on the panel.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,152
  • Jan 8, 2018 1:16pm Jan 8, 2018 1:16pm
hi ebeckers/mrdfx, concerning what I said before about poss having a setting for EA to check if the signal is the first valid signal of the reversal. Would setting the number of candles to look back work?
  • #2,153
  • Jan 8, 2018 1:31pm Jan 8, 2018 1:31pm
Quoting mrdfx
{quote} Are you referring to the sma 200? When it is set = true it will display on the panel, if it set = false it will not be visible on the panel as it is not being used. The same goes for the news filter. If it is not being used it will not be visible on the panel.
I think the SMA200 trendfilter is not working at all. I still have no opportunity to provide a screenshot, but could anybody else please check. Thanks
  • #2,154
  • Jan 8, 2018 3:33pm Jan 8, 2018 3:33pm
Quoting mrdfx
{quote} Are you referring to the sma 200? When it is set = true it will display on the panel, if it set = false it will not be visible on the panel as it is not being used. The same goes for the news filter. If it is not being used it will not be visible on the panel.
For me the same history is with the version of v. 1.18.2 went across back onto on 1.18.1 all is normal . it is possible to change tuning and nothing disappears. thank you
  • #2,155
  • Jan 8, 2018 3:49pm Jan 8, 2018 3:49pm
Quoting pandora53
{quote} For me the same history is with the version of v. 1.18.2 went across back onto on 1.18.1 all is normal . it is possible to change tuning and nothing disappears. thank you
If it not being used by the EA then why would you want it displayed on the panel?
Truth is like poetry. And most people f*cking hate poetry.
  • #2,156
  • Jan 8, 2018 4:10pm Jan 8, 2018 4:10pm
Quoting mrdfx
{quote} If it not being used by the EA then why would you want it displayed on the panel?
@mrdfx: thread 2153
.... Did you check it?
  • #2,157
  • Jan 8, 2018 5:02pm Jan 8, 2018 5:02pm
Hi Everyone

Great Thread here. This version seems to be freezing up or not updating every minute on like the previous version. Any ideas?

Thank you
  • #2,158
  • Jan 8, 2018 5:34pm Jan 8, 2018 5:34pm
Hello ebeckers, thanks for the great indicator (Support Resistance). Very classy of you.
A question: # 11 (mouse over it) shows the number of touches of this line ??
Thanks again !!!!
  • #2,159
  • Edited Jan 9, 2018 1:35am Jan 8, 2018 5:51pm | Edited Jan 9, 2018 1:35am
Quoting johnsmith2nd
What seems to be the consensus for either using a fixed R:R (2:1) vs. trailing stop system to manage money?
@johnsmith2nd,

I personally use a fixed R:R in my trading depending on the strategy I am using. Most times my R:R is 1:2 with a partial close of around 95% of the lots and then let the remainder run to 1:3. I have used TS in the past but history has proven to me that over time it will not perform as well as say a BE + "x" pips at a certain point.
I use the market pa for reversals on longer time frames (4h, Daily) with no BE or TS and I do use a BE on 1 hr charts. This has given me excellent results on both trend following and trend reversal strategies I use. I have now had my strategies professionally coded and I simply monitor for unusual movement or simply "gut instinct" sometimes to pull out of a position (or not enter one).

So to answer your query, I prefer not to use the TS in 99.9% of cases as it does not do as well as a BE as in many instances you are taken out by a small retracement which then reverses back in the initial direction for a much better result. This will obviously depend on your trading as we are all different.
All the best and wishing you much success.

maahome
  • #2,160
  • Jan 8, 2018 7:48pm Jan 8, 2018 7:48pm
Quoting hzs10
Shorted ChFJPY and EURJPY {image} {image}
both hit TP: +70pips

but ytd GBPJPY and AUDJPY hit SL: -72pips
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