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Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies

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Attachments: Simple Daily Trend Reversal Trading System
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Simple Daily Trend Reversal Trading System

This is basically what i am going to do next week.
And if the euro want to set a new weekly high that is okay with me but not on a friday and not while i am trading so i was already out.
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I can calculate the movement of stars, but not the madness of men. Isaac N.
@ebeckers = could hav been much Better results if i had Not closed my lappy !?!
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da n0o0b + $hit_Disturber
Quoting hzs10
Longed GBPNZD, GBPAUD, GBPJPY H4, shorted AUDCHF H4 {image} {image} {image} {image}
Great Job on your success with this strategy!! I have noticed since reading in this forum that you are active with posting your trades and outcomes. I appreciate those updates as I also know you are trading manually...as I am as well. I have a few questions if you don't mind answering:

1. What session are you active with your trading? Open to close?
2. As for your exit strategy...do you primarily use the 55 EMA?
3. Is there any other confirmation or visual you consider before executing a trade other than the strategy itself?

Thanks and keep up the pips!!
Quoting pipsy7
is this NOT a good exit ? = -- TEASER of 1.19 --- When tradin heavy lots i watch my wkly pvts + volume ! {image}
If S&R provides re-entry it works also but is more difficult.

You set a zone around a s&R level, exit when x pips away but re-enter when y pips above/below and next S or R is minimal xyz pips away.
I can calculate the movement of stars, but not the madness of men. Isaac N.
Hello Guys I have checked the system and I think only S&R indicator seems to be profitable.

Zigzag Pointer - Even the depth of 60 would repaint ( I know the Pointer is only indication) But it's distraction
Cycle Identifier - Same as Zigzag repaint
200 / 15 Moving Average - Lagging and most of the time to late. You will end up entring when the move up or down is allready finishing.

Nice Dash. Good S&R. News Filter etc are good.

The best is to add Divergence indicator. Why (Market moves up or down) 90% Double Top or Bottom on S&R level. Results clear divergence.
Hello,

Has the S/R indicator that is being used in the 1.19 version of the ea available in this thread so it can be added to my charts for a visiual representation?

I've seen several posted, just not entirely sure which one beckers is using for the ea.

Kind regards,
Quoting Danno19
Hello, Has the S/R indicator that is being used in the 1.19 version of the ea available in this thread so it can be added to my charts for a visiual representation? I've seen several posted, just not entirely sure which one beckers is using for the ea. Kind regards,
Sure here it is.. and if you are into coding.. its also on GitHub https://github.com/erwin-beckers/SupportResistance
Attached File(s)
File Type: ex4 SupportResistance.ex4   40 KB | 479 downloads
Thank you! Much appreciated, and I am into coding, as in watching you and your wizardry! Great work on this.
Quoting pipsy7
@hzs10 , R u tradin live ? = TIA for ur response
I did demo and live
Quoting ebeckers
{quote} Yeah the original strategy didn't talk much about where to exit a trade. But somehow you guys manage to find pretty good exits when trading manually ? Would be nice to know when you manual traders decide to exit a trade If we find some common rules we can put that in the ea for better exit strategies
I use 55 ema and SR to look for TP
Quoting hzs10
{quote} I use 55 ema and SR to look for TP
thx, thats the 55 exponential on price close ??
And SR.. which levels ? daily, weekly ?
Quoting beethoven
i tried money management what alorente said and it so worked instead of going back and forth i just hit and run with profit no demo real cash
What did Alorente suggest for TP?

I have been trading this manually fairly steady for the last few weeks, watching the ea for signals, made a bunch before xmas letting things run, but my downfall, and cause for a roller coaster ride, has clearly been an inconsistent and undefined exit strategy (imagine that). Currently I am testing the EA running a 3:1 R:R with the zigzag as my stop.
Quoting ebeckers
{quote} thx, thats the 55 exponential on price close ?? And SR.. which levels ? daily, weekly ?
55ema, if longed and closed above 55ema I will look at 200ema or SR. I use ur default D1,W1,and M1. which ever is the closest.
Quoting ebeckers
{quote} Yeah the original strategy didn't talk much about where to exit a trade. But somehow you guys manage to find pretty good exits when trading manually ? Would be nice to know when you manual traders decide to exit a trade If we find some common rules we can put that in the ea for better exit strategies

Here's a great S/R indicator based on weekly fib pivots.
Attached File(s)
File Type: ex4 Davits Pivot V3.2 Auto.ex4   43 KB | 289 downloads
File Type: mq4 Davits Pivot V3.2 Auto.mq4   25 KB | 317 downloads
Blessed is the one who takes refuge in Him.
i will test manual trading on simulator with default template and with murrey math as SnR level.
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and i'll compare the result of both method.
"Hope" is dangerous word in trading, trade what you see not what you hope!
Hello fellow traders, first post here.
I have been testing the EA for a few weeks and updating with each new release. The EA itself (v1.18.3) appears to be functioning fine so far. The one thing that would be nice to be changed is something that occurs when the EA is first started. When I load and start the EA if there are any pairs that have all the conditions for opening a trade they are opened immediately. In most cases this happens when price is well past the optimal entry price. This was not a issue for demo testing.

Would it be possible to make it so that when EA is started that any pairs that have all conditions but are past that optimal opening price are not opened and they wait till next valid signal?
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Quoting slatusman
Hello fellow traders, first post here. I have been testing the EA for a few weeks and updating with each new release. The EA itself (v1.18.3) appears to be functioning fine so far. The one thing that would be nice to be changed is something that occurs when the EA is first started. When I load and start the EA if there are any pairs that have all the conditions for opening a trade they are opened immediately. In most cases this happens when price is well past the optimal entry price. This was not a issue for demo testing. Would it be possible to...
I agree. I think that is invalid signal based on the original strategy on post #1.

"When the candle crosses and closes above the 15 SMA up from below, and only if the trade is still confirmed by the 3 indicators."

@ebeckers Hello. Can you kindly look into this? I think the EA is opening positions even if the open of the candle is above the 15 SMA. I think the trigger candle should open below 15 SMA and close above it for BUY, reverse for SELL. Thanks a lot.
"When the candle crosses and closes above the 15 SMA up from below, and only if the trade is still confirmed by the 3 indicators."

I think that one is missed.
Not the SMA15 but the candle closed.
I can calculate the movement of stars, but not the madness of men. Isaac N.
Quoting zeramlakireg
{quote} I agree. I think that is invalid signal based on the original strategy on post #1. "When the candle crosses and closes above the 15 SMA up from below, and only if the trade is still confirmed by the 3 indicators." @ebeckers Hello. Can you kindly look into this? I think the EA is opening positions even if the open of the candle is above the 15 SMA. I think the trigger candle should open below 15 SMA and close above it for BUY, reverse for SELL. Thanks a lot.
Yeah we first used a cross, but after talking with mrdFx this was changed to just price closing above/below the 15 sma

Erwin
@mrdfx @ebeckers

Please correct my understanding regarding the System/EA.

I see that it gives the first buy/sell signal when the 3 indicators are positive and a candle closes above/below 15 SMA.

It gives continuous signal even after the trigger candle has closed (candle that crossed the 15 SMA) as long as it remains above(for buy)/below(for sell) 15 SMA as long as the 3 indicators are in agreement.

This buy/sell signal continues even after a big move (as pointed out above by @slatusman).

However, this continuous signal gives us late entries when starting the EA.

This affects the RR significantly. We cannot be sure that a move is always 100+ pips. IMO, missing out on one trade is not much of a loss than having a couple of negative positions when starting the EA.

Is it possible that the EA just give a signal at the close of the trigger candle then stop?

If the price retraces then crosses the 15 SMA again and the 3 indicators are still valid, EA give another single signal.

Hope this helps. Thanks.
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