System of Pending Orders

I posted a GBPAUD screenshot here as a response to you. The GPBJPY response is for the person with the post after yours.

So this now brings up the first major definition problem. If we are looking for a trend on the 15m chart, and the TPO indi is looking at the previous 1440min range (default) Then we are not considering the larger trend on higher TF charts... If you asked me which way EN was trending - i would have said down - and i would have based that off the 4H chart as its been heading down for weeks now.... So what you are saying is to base the trend recognition off the 15M chart and ignore the higher TF trend altogether?

I think M15 is a good timeframe overall for most purposes. But I know what you mean with the higher timeframe because I used to swear by this myself when I was trading the daily and 4 hour, in the direction of the weekly. However, this is a different thing that is robust in that you should not have any bias. You should just look for a pair that is trending as current as possible but at the same, long enough so that you can tell if it looks like it's in a trend in some form, and then stalk it with thoughtful pending placement.

Ok so the TPO has identified 3 key levels based off the 15m chart since daily candle opened - i have the white line from the daily open indi showing also. see below.

Now if i wanted to catch a quick few pips i would go for the upper zone to place the pending order- and assuming we are closing at the end of the session today - seems reasonable. However if this was monday - i dont see how an entry based on such a short trend ID off the 15m TF would be all that accurate to enter into a position for the rest of the week thru to the following friday. Are there any differences in how you would approach the entries based on the time of week in consideration of how long the positions will be open for?

For example - if we are entering on a monday - then we should be looking at a 5 day position whereas when we enter on friday - its always going to be an intraday trade.
Sorry for all the questions, just trying to learn

i see the TE has updated with the EN pending - indeed it went for the upper zone same as which i identified - glad we got that down

A couple of things, and again just assume I say things with all due respect. The 1st thing is, you don't want to catch a few quick pips because it's harder to make things work long-term when you're exposing yourself all the time but then exiting and only looking to catch a quick few pips. The 2nd thing is, the holding period of only 5 days is only there because my broker has a 200 limit and 34 pairs are being traded. If the limit was 400 then I would look to hold for 10 days or 2 weeks. Generally speaking, the longer the better. Also, you don't want to begin trading on Fridays. You want to begin trading on Monday so that you lock in your pending orders closer to the beginning of the week and then reap.

Cool, no worries
My reference to a few quick pips was under the notion that i know its friday and we will be closing this position later today - hence a few quick pips. I also have a 200 position limit with my broker so we have to assume we will be doing this on a weekly basis as youve said. What i was referring to is if there are multiple levels showing as possible entry points on the TPO - you might pick the more conservative one if the order was placed on a monday whereas you might pick the more aggressive one (closer to market price) if it were placed later in the week?

What about this one AC... its been trending up for quite some time on the 4H but now down on the 15m. If we apply the TPO to the pull back area which you can see in the attached chart ( which is actually about 36-24 hours ago) - it identifies one of the possible entries at 95.940. This level does not change much when you move the TPO boundaries left or right so it seems solid to place a buy stop pending on the main middle level at 95.940. This puts our trade in the direction of the longer term trend - but counter to the downward movement we can see on the 15m - i think this is what you were referring to earlier. Do this satisfy the system criteria?

It's not practical for the full criteria to be explained here because it is complicated but yes you are correct in that, if there's a downtrend on M15, you would look for a pending buy to catch the swing up. The pending orders list in the TE is applying the full criteria for the system even though sometimes pending orders are missed due to demo server outage. There was supposed to be a pending buy in the location you mentioned which would have been triggered by this point. This is one reason that this fully automated system benefits from safety in numbers. The more pairs traded, the better. I've repeatedly seen the demo server go offline for several minutes so it would probably be best to replace the demo system TE with a live system TE because those servers are much more reliable.

Give me your bot ill put it on a VPS with live 1k account for you at .01 to start. Ill split any profit with you and people can see. Not a big deal. I will not share the EA with anyone if you don't want me to. I have a 1k fuck around tickmill account with 1k i dont relly use much.

From Monday to Friday there were just 122 trades so there's room for 78 more trades. I'll hold over the weekend and into next week until about 200 trades is reached.

The demo server is unreliable. I'll eventually try to set up a live TE for this system so that anyone interested in following it for practice or as a guide as they're developing their own, can do so.

Yes, I would like to see this!

@spotrate: what timeframe is the histogram on the right side refering to?

All the charts I've seen posted here by others and myself are M15.

But if you're asking about the TPO itself, it's independent of the timeframe. It's up to you to select the range it considers. So if you set the space in between the blue and red lines to broker close for example, you could look for intraday setups like this obvious one to 1.28648

If you're still not sure about whether to follow the system of pending orders or not, take a look at the backtest below for GBPJPY for the past few months up to November 1, 2018. If you carefully follow the system even if it's just for one pair like GPBJPY, you're likely to be green.

This is eluding to further reasoning on my behalf

As far as i can see, there needs to be discretion in terms of which pairs are considered to be "more probable" to reverse AND THEN continue in the desired direction if we are to hold for 5-10 trading days. Im sure you part of your system has entry filters for determining this.
To my reasoning - and this is simply more of a language definition rather than anything else - you are essentially looking to take positions in the direction of the long term trend, and make entries on the pullbacks. Many other systems are based on a similar approach - buy the dips or sell the rallies etc - however im sure you have something unique in terms of filters or logic to determine which pairs are likely to result in positive pips.
Otherwise - it doesnt make sense to base a long term position (1-2weeks) from an entry condition which is only looking at the last 24hours - it simply doesnt make sense because without some additional filters for entry, it cannot yield a probability more than 50% irrespective of how many pairs are traded.

So its upto trader experience to determine which pairs are traded - unless you simply follow the signals on the TE. Personally - i would use my human logic and experience to determine which pairs are likely to continue their long term trend direction and look for pairs which are in the process of pulling back against the trend and looking for possible entries on those.

But to remove some of the doubt and mystery- it would be nice to have additional info about the entry filters used to determine which pairs meet criteria for pending orders and in which direction. If you do not wish to be direct about this- dropping some hints at least would be nice


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Speaking from personal experience I would avoid any basis for a system that heavily relies on having a bias. Whether it'd be using higher timeframes or, only the current timeframe, or believed to be more probable to reverse and then continue, or long-term trend, or making entries on pull backs or any of that.

That's not what is going on here since you're curious. But you are right about there being filtering. There is actually quite a bit of filtering. The many filtering isn't something I thought of at once. It has been a work-in-progress over the years with each failure or, with each something interesting I thought to explore. It's just been one improvement after another until grail.

I would give the recommendation that the basis of your developing strategy should be to follow the trend. Any transformation or function of a grenade, is still going to be a grenade. What you want for a basis is trend following more based on what you see and less on what you think. You don't want a grenade as a basis

You're saying there is doubt and mystery but I'm not sure where there is doubt. Maybe a little mystery but I've been clear otherwise. Okay there's really not much to it. It's rather mechanical in that it doesn't rely on bias unless you consider looking at the slope on M15 to be bias. Bias to me seems more about what you think, instead of what you see. Instead focus on robustness to various types of price movements.

For me, things work best when exposed to the entire market, 24 hours a day, 5 days a week, 52 weeks a year without limitations or hesitations such as ECB, BREXIT, flash crash, interest rates, or various other things. Focus on robustness and filtering Start with a trend following basis that trades a ton and then filter, filter, and when you think you've filtered the living day lights out of those entries, filter some more. Even if you only get about 35 trades on GBPJPY for the past few months as was the case in the backtest screenshot I posted earlier.

Okay now it seems like I'm ranting but I want to take this chance to say something to the trolls because it is getting annoying. I'm getting PMs almost daily asking me to send my EA, and even being shamed for not sharing. The only thing I can say to the desperate or ones in despair is, it won't help you if I sent my EA because you wouldn't know how to use it.

Please start by doing some thinking on your own instead of behaving like a tapeworm. Yes, you will struggle but at least you'll actually give yourself a chance to possibly figure something out that works.

No one is going to PM you anything that works. If they PM you something, it's precisely because it does not work.

I'm genuinely curious what goes through the mind of someone when they believe it is a good idea to demand me to send my EA. Because yes, I can see that you're thinking to yourself of how this will benefit you, I can see this. But I guess my question is, have you taken into consideration that it might be equally important to also benefit the person sending you something. But I think that part isn't very important because what is important is how it will benefit you. Okay then...