Simple Daily Trend Reversal Trading System

Here are some trades from last week ...manual and original rules

Chris

Good trades mate!

Hi guys, this system looks really interesting...Excuse my ignorance, but I would love to get notifications of new trades created by this system. What would be the best way to do this- would be very thankful if anyone can point me in the right direction to learn how to do this. Cheers!

Put the various pairs up on your charts and plug in the indicators . Watch the system, method, get a feel for it

Hello guys, been long overdue to post, but I've been busy with other things outside of FF so let me catch up and reply.

In light of the last few weeks and having a string of losses and adding to my previous post explaining about the situation, I'm not really sure how much more I can add on. This strategy has its strengths and weaknesses, and the last few weeks highlighted this. As I have already said many times before the weakness lies in strong trending pairs or fake reversals, and we've had quite a few recently.

When I started with the TE above we had a great run with few losses, then I made some changes on the way, and looking back some of the changes were not so good. This is called learning, and you can only improve on things from trial and error, and this is what we are doing. I put up this live TE to show that I'm confident in the strategy, and also as a forward test to learn, evolve, and improve the strategy with the EA.

I must also say that the last 2 weeks has been slow with not many valid set ups to trade using this strategy, although the market has been good for others. I've made some updates which hopefully will turn things around going forward and get the account back on track in good profit.

That being said despite having a string of losses the account is still on profit and floating on around 30% which is not too bad.

Now what we can try to do is to figure out together how we can tackle the weaknesses of the strategy, and to find ways to avoid repeating things in the future. I'm still brainstorming thinking of ideas, and have thought of a few things that might work. I've been thinking of how well using pivots as SR levels could work as I've heard and seen that pivots work well as SR levels?

I'm also thinking of having ADR as a TP option, as not every pair is the same, and using a fixed TP or fixed TS is not always the best option, so for example perhaps maybe using a 50% of ADR as TP could work? I'm not too clued up on ADR, but some traders swear by it, so maybe its also an option to explore? I've chatted to ebeckers about these ideas, but he seems to be incognito these days unfortunately.

I don't think adding more indicators is the solution unless it can really benefit the strategy, but I am open to suggestions that will help tackle the strong trending pairs and fake reversals. If we can find a solution to this we will have as close to a perfect strategy as we can get I think.

I've attached the latest set file which I'm using for the TE above if you want to follow along.

Please correct me if Im wrong...

I think the EA should have some kind of profit protection, meaning that at certain pips, it should be triggered to prevent the trade to go against us as we dont have specific exit rules in case things starts to look bad, sometimes trade was looking good and before triggering any TS or RR it just went nuts, this would prevent this situation...

I think the EA should not enter a trade when the movement was already for a while, sometimes EA entered the trade after the movement was starting to fade... Maybe because the re-enter on same pair rule was just valid again after waiting the time required.

When the SLs are bein triggered, we are almost at a bottom or usually price tends to reverse quite soon? Maybe EA could build up positions asuming we want to handle some drawdown, but we could trade initially less lot size counting that maybe EA is going to build up if price keeps going against us...
If usually trend tends to continue and breaks a SR, why not follow it? I know this is a trend reversal strat... But well...

Regards,
Jimm

I have started using Stefdek settings on daily chart but with Trailing stop and it seems work perfectly.

Just 4 days of trading my dear friend, just 4 days..............

better to use Gann levels instead of SR levels

Yes it seems perfectly just now. Let me enjoy the moment.

Long gold from 1331.50 avg price

hi mate..do you use hardstoploss??

No

hi mate according to rules..the trade hit stoploss ..r u still holding it?

Will be hammered down before it is allowed to rise.

I don't see gold coming back anytime soon. The bears are still in full control.

UJ is a strong correlating pair for gold, and if you check all UJ its been on a bull run all week thanks to the strong dollar, and EU has been tanking since last Friday, so for me going long on gold now is too premature unless you can hold on while its in DD..

Thanks Sheppy, this is exactly what i want to do, but I am not sure how to do it!
Is there a guide on how to get these indicators and plug them in? Cheers!

Go to post 1 and install the indicators and template to your MT4. If you don't know how to do that then I suggest going to YouTube or babypips to learn how.

Man so far this week and last week has been really boring for this strategy, hardly any good set ups to trade.

Normally there's at least 3-5 trade opportunities during the week, but these days its slowwwwww.

It's been a great week of trading with other strategies, but for SDTR no action lol.

is v1.25 out yet?