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Simple Monday-Tuesday System (attached calculator)

  • #1,281
  • Mar 15, 2020 2:52pm Mar 15, 2020 2:52pm
Quoting turnip15
{quote} The 6th bar on the left from the upper arrow -where price actually closed over the buy/buffer ? line. Would you have bought over the break of that close ? if so -that would be a profitable long? The other candles seem to have spiked above that line then closed below it thus negating a trade until around the bar referred to above? If I misunderstood then I apologise in advance.
A lot of assumptions made in those questions; first of all, I do pending orders as per the PRICE

There is no setting for time or close above when placing a Pending Order

To do as you say, a trader would have to watch all the charts 24 / 5, is that how you trade?

And what is the magic time frame for the close above you want?

A few posts beyond that, a trader did say he made a re-entry and a profitable trade.

As far as I know, a Script or an EA will place pending orders on the PRICE levels,

They won’t wait to see if the close is above!

What is the point of calculating position size, proper risk management, using that price as the entry

and then placing the actual trade 20 pips higher?

IF you have a better way, by all means, use it, open a demo account, show is the TE

Seems like everyone is missing the point, you want a guaranteed entry with never get stopped out!

So many suggestions to fix something that isn’t broke, no one even posts a chart to support their ideas.

Let’s see how it goes this week, whose ideas work, but please gather your proof.

Good luck to all
It takes a lot for me to IGNORE you, but you can try.
  • #1,282
  • Mar 15, 2020 2:59pm Mar 15, 2020 2:59pm
Quoting bojack34
{quote} It looks like someone spilled some paint on the picture. No need for added filters. That's the beauty of this system. Nice and clean charts. No added BS. The only thing is needed is good money management so that the Strike rate is profitable. Which, with this strategy doesn't appear to be that hard to do. I personally, am NOT a fan of taking half the profits and letting the rest run. I like to have a TP target and taking FULL profits. I also like the idea of moving the SL to BE +1 or 2 to cover spread at some point in time of the trade.

I like my spilled paint though. LOL. keeps me with the money!! And i'm not trying to change anything anyone is doing here just a suggestions. Stay green!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bandicam 2020-03-15 15-56-46-649.jpg Size: 455 KB
Click to Enlarge Name: bandicam 2020-03-15 16-02-00-458.jpg Size: 389 KB
Happy Hunting!!!
  • #1,283
  • Mar 15, 2020 3:42pm Mar 15, 2020 3:42pm
Quoting BrianRay
{quote} I like my spilled paint though. LOL. keeps me with the money!! And i'm not trying to change anything anyone is doing here just a suggestions. Stay green!!!
But the question remains, IF all that paint is keeping you in the money, why are you still searching for other methods?

I believe it’s because you don’t trust the paint, you need more confirmation.

Go ahead, make suggestions, back them up with results, we will all be into the painted charts soon, I’m sure

It takes a lot for me to IGNORE you, but you can try.
  • #1,284
  • Mar 15, 2020 3:52pm Mar 15, 2020 3:52pm
Quoting Erebus
{quote} But the question remains, IF all that paint is keeping you in the money, why are you still searching for other methods? I believe it’s because you don’t trust the paint, you need more confirmation. Go ahead, make suggestions, back them up with results, we will all be into the painted charts soon, I’m sure
Might be on on mobile or iPad though!
  • #1,285
  • Mar 15, 2020 4:10pm Mar 15, 2020 4:10pm
Quoting Spikehunter
{quote} Once a BUYSTOP/SELLSTOP order is placed there is no further control available. This doesn't mean you can't achieve what you want. You would have to place a market order when the close, I assume a lower timeframe, has happened. Problem for some with this is that the EA would need to be continuously running and market orders don't always get filled at the level you thought i.e. slippage. Sometimes not at all "OffQuotes" I must admit I am not keen on the Pending orders as any old spike can activate them and the idea of a clear breakthrough...
Thank you Spikehunter for your response.
My idea was to have a confirmation over a period in H1 to have a better chance of the start of a lasting trend by a close of the candle beyond or on the entry level.
Of course this requires that the EA is always running (on the PC or on a VPS) and to place it on a graph in H1.
I modified the EA in this sense with this new version.
In the settings, I also changed the stoploss level to at least 55% of the range levels because often a 50% retracement is not uncommon and it's annoying to be kicked out for a few pips.
The RR is always 2: 1 in this setting, but you can change everything.
Test it and tell me what you think.
Attached File(s)
File Type: mq4 One_Day_System_v1.4_Close_Mon_Tue_Wed_Thu_or_Friday_V_1.1.mq4   8 KB | 313 downloads
  • #1,286
  • Mar 15, 2020 4:41pm Mar 15, 2020 4:41pm
Quoting transmat
{quote} Thank you Spikehunter for your response. My idea was to have a confirmation over a period in H1 to have a better chance of the start of a lasting trend by a close of the candle beyond or on the entry level. Of course this requires that the EA is always running (on the PC or on a VPS) and to place it on a graph in H1. I modified the EA in this sense with this new version. In the settings, I also changed the stoploss level to at least 55% of the range levels because often a 50% retracement is not uncommon and it's annoying to be kicked out...
Why were you asking for coders to help you when you already know the answer. Why would I want to test your ea when I have one of my own. Please don't waste my time.
  • #1,287
  • Mar 15, 2020 4:42pm Mar 15, 2020 4:42pm
Quoting Erebus
{quote} A lot of assumptions made in those questions; first of all, I do pending orders as per the PRICE There is no setting for time or close above when placing a Pending Order To do as you say, a trader would have to watch all the charts 24 / 5, is that how you trade? And what is the magic time frame for the close above you want? A few posts beyond that, a trader did say he made a re-entry and a profitable trade. As far as I know, a Script or an EA will place pending orders on the PRICE levels, They won’t wait to see if the close is above! What...
You make several incorrect assumptions - I did apologise in advance but never mind

Right then - I'll get me coat !
every Saint has a past. Every Sinner has a Future
  • #1,288
  • Mar 15, 2020 4:53pm Mar 15, 2020 4:53pm
Quoting turnip15
{quote} You make several incorrect assumptions - I did apologise in advance but never mind Right then - I'll get me coat !
you said things like, several spikes above the line that would negate the trade

well, if that’s the way you want to trade, go ahead, no need to ask me

it’s quite clear how I trade, PRICE
It takes a lot for me to IGNORE you, but you can try.
  • #1,289
  • Mar 15, 2020 5:05pm Mar 15, 2020 5:05pm
Quoting Erebus
{quote} you said things like, several spikes above the line that would negate the trade well, if that’s the way you want to trade, go ahead, no need to ask me it’s quite clear how I trade, PRICE
I was hoping to discuss price closing above line then taking any break of that price bar. Perhaps others might like to comment apart from Erebus.
every Saint has a past. Every Sinner has a Future
  • #1,290
  • Mar 15, 2020 5:18pm Mar 15, 2020 5:18pm
Quoting bojack34
{quote} It looks like someone spilled some paint on the picture. No need for added filters. That's the beauty of this system. Nice and clean charts. No added BS. The only thing is needed is good money management so that the Strike rate is profitable. Which, with this strategy doesn't appear to be that hard to do. I personally, am NOT a fan of taking half the profits and letting the rest run. I like to have a TP target and taking FULL profits. I also like the idea of moving the SL to BE +1 or 2 to cover spread at some point in time of the trade.
great post and very insightful
every Saint has a past. Every Sinner has a Future
  • #1,291
  • Mar 15, 2020 5:19pm Mar 15, 2020 5:19pm
Quoting turnip15
{quote} I was hoping to discuss price closing above line then taking any break of that price bar. Perhaps others might like to comment apart from Erebus.
Given that you first asked my opinion, to which I politely replied, and then refuse to answer any of my questions...

Probably not...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-16 at 8.16.33 am.png Size: 149 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,292
  • Mar 15, 2020 5:22pm Mar 15, 2020 5:22pm
Quoting turnip15
{quote} I was hoping to discuss price closing above line then taking any break of that price bar. Perhaps others might like to comment apart from Erebus.
I once read an article from a trading wizard who stated a number of things. The ones relevant here would be:
Simple but not simplistic
A real reason to take a trade (he actually said he looks for reasons NOT to take trades
Direction
Momentum
This latter point to me is especially important as we see to often spikes initiating trades or closing on slwhereas a little more attention to real momentum would keep you out or in. Price isn't always your friend. A close or a number of closes at a lower tf may help. GBPNZD last week proves the point exactly.

This reminds me of the sushi trade by a well known trader, sorry haven't got his name to hand. Price takes out new hi/lo over last 5 bars then reverses and takes a new lo/hi over 5 bars. A reversal price pattern.

There is here a defined idea which if followed looks good to make money. There isn't much else that can be said that hasn't already been said. Getting close to a time to spend the cash and move on.
  • #1,293
  • Mar 15, 2020 5:25pm Mar 15, 2020 5:25pm
Quoting Spikehunter
{quote} I once read an article from a trading wizard who stated a number of things. The ones relevant here would be: Simple but not simplistic A real reason to take a trade (he actually said he looks for reasons NOT to take trades Direction Momentum This latter point to me is especially important as we see to often spikes initiating trades or closing on slwhereas a little more attention to real momentum would keep you out or in. Price isn't always your friend. A close or a number of closes at a lower tf may help. GBPNZD last week proves the point...
Excellent reply Spike and food for thought. Thanks for taking the time to make a constructive reply. Much appreciated.
every Saint has a past. Every Sinner has a Future
  • #1,294
  • Mar 15, 2020 5:46pm Mar 15, 2020 5:46pm
My question on the BUYSTOP and SELLSTOP orders concerned another EA for another files and, like you, I didn't know the answer; however, thank you for responding to me on this point.
In the second part of your post you ask me to give you my ideas, which I did.
It turns out that this idea is common to both EAs except that of the other files requires keeping STOP orders for technical reasons for the rest of the code; for the moment I have no solution.
By cons, I asked nothing for this one. I know how to do it, which I did immediately to post it at the same time.
When I said to test it, it was aimed more broadly at the whole community, not particularly at you.
As English is not my mother tongue, I have to help me with Google translation and maybe the translation could be confusing ...
Nevertheless I find your way of answering me somewhat inappropriate.
I'm not in competition with you, everyone will choose the EA that suits them.
I am sure you are more sympathetic in life than the impression you left here this evening.
Have a good night it should be better then.
  • #1,295
  • Mar 15, 2020 5:56pm Mar 15, 2020 5:56pm
The above post is in response to Spikehunter
  • #1,296
  • Edited 6:14pm Mar 15, 2020 5:56pm | Edited 6:14pm
Quoting bojack34
{quote} I personally, am NOT a fan of taking half the profits and letting the rest run. I like to have a TP target and taking FULL profits. I also like the idea of moving the SL to BE +1 or 2 to cover spread at some point in time of the trade.
Sorry, but this makes no sense. If it comes back hard at you and hits your BE, then you walk away with nothing! At least if you take 50% off the table and it comes back hard at you, you could potentially walk away with something.

The way I see it is you are sitting on the fence if you use BE without taking something off the table.

But hey, what do I know.
Learn from your mistakes and march on.
  • #1,297
  • Mar 15, 2020 6:01pm Mar 15, 2020 6:01pm
Quoting Spikehunter
...This reminds me of the sushi trade by a well known trader, sorry haven't got his name to hand...
Mark Fisher, "The Logical Trader", page 152.
  • #1,298
  • Mar 15, 2020 6:13pm Mar 15, 2020 6:13pm
Quoting here2there
{quote} Sorry, but this makes no sense. If it comes back hard at you and hits your BE, then you walk away with nothing! At least if you take 50% off the table and it comes back hard at you, you will walk away with something. The way I see it is you are sitting on the fence if you use BE without taking something off the table. But hey, what do I know. I'm just the guy you like to condescend in here.
Mocking other people’s trading methods, that’s condescending

https://www.forexfactory.com/showthread.php?t=986455

https://www.forexfactory.com/showthr...1#post12804231

You even managed to derail a thread that you started; everyone needs to read those before they rip into me

Have a cup of cement princess, no back patting and high fives around here, except when you earn them, not by whining and asking for them

It takes a lot for me to IGNORE you, but you can try.
  • #1,299
  • Edited 6:43pm Mar 15, 2020 6:19pm | Edited 6:43pm
Quoting Erebus
{quote} Mocking other people’s trading methods, that’s condescending https://www.forexfactory.com/showthread.php?t=986455 https://www.forexfactory.com/showthr...1#post12804231 You even managed to derail a thread that you started; everyone needs to read those before they rip into me Have a cup of cement princess, no back patting and high fives around here, except when you earn them, not by whining and asking for them
Actually, from what I have seen, you have been rude and verbally abusive towards multiple people in here. You need to change your attitude.
Learn from your mistakes and march on.
  • #1,300
  • Mar 15, 2020 6:21pm Mar 15, 2020 6:21pm
Quoting Erebus
{quote} Mocking other people’s trading methods, that’s condescending
OH, but you didn't say a word when people were mocking me in here. And YOU were one of them!
And you have been mostly mocking people in here who don't think like YOU!
Learn from your mistakes and march on.
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