Rules based system that is profitable on GBPUSD and EURJPY | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Very Profitable System - Roi system 355 replies

Rules based method based on zz, fractals, psar, and s/d 118 replies

MA, Gann and Ichimoku system (profitable system!) 60 replies

MT4 EA: Let's make a profitable EA based on SOMETHING 7 replies

What are your most profitable rules in your trading plan? 36 replies

Attachments: Rules based system that is profitable on GBPUSD and EURJPY
Exit Attachments

Rules based system that is profitable on GBPUSD and EURJPY

  • #121
  • Edited 4:27pm Jun 26, 2020 4:08pm | Edited 4:27pm
Quoting JustInNow
Thanks mkvy alot. Just love what simple this strategy give. I just want to contribute the pin script for this one if some one need. //@version=4 study (title = "EMA 13/63", shorttitle = "EMA13-63", overlay = true) // --------- Inputs src = input(defval = close, title = "Source") maFast1 = input(defval = 13, title = "EMA Fast 1") maFast2 = input(defval = 63, title = "EMA Fast 2") freePips = input(defval = 3,type=input.integer, title = "Free Pips") point = syminfo.mintick pip = point * 10 f_maFast1 = ema(src, maFast1) f_maFast2 = ema(src, maFast2)...
OK that looks good.. I looked at the script, it seems to wait for a gap... not sure if it can wait for the next candle... How do you use that script... i tried to paste it into a new script but i have no experience with that side of things... can you post something here to add to mt4 or Mt5
  • #122
  • Jun 26, 2020 10:11pm Jun 26, 2020 10:11pm
Quoting mkvy
{quote} OK that looks good.. I looked at the script, it seems to wait for a gap... not sure if it can wait for the next candle... How do you use that script... i tried to paste it into a new script but i have no experience with that side of things... can you post something here to add to mt4 or Mt5
I just make the gap to draw the visible line .
The pin script is for tradingview and not for mt4/5 ( no experience about script for mt4/5).

Look like the sell order (EURJPY) now is in tiny loss. will wait for the cross next week?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-06-27 at 10.16.08.png Size: 66 KB
  • #123
  • Jun 27, 2020 10:36am Jun 27, 2020 10:36am
Quoting JustInNow
{quote} I just make the gap to draw the visible line . The pin script is for tradingview and not for mt4/5 ( no experience about script for mt4/5). Look like the sell order (EURJPY) now is in tiny loss. will wait for the cross next week? {image}
Yes, EURJPY has not crossed up... My backtesting and live trading suggests that theres a more than 50% chance it will not cross up yet...price should drop enough to be in profit before cross up happens
If theres a big gap up then it will cross immediately.. But still have to wait another hour for confirmation..

There is some risk to this strategy during weekend.. What happened if something really big happens at the weekend like what happened to swiss franc a few years ago... Im not sure if stoploss would limit any loss... due to gap... right now i think my stop is 100 pops above... what happens if theres a big gap up 300 pips.

Maybe this strategy could be changed to close all orders on friday evening... Then you would have to wait for another crossover to trade on both pairs... This means you may miss out on lots more pips profit on the sell trades...

Trade carries risk... thats why 1-2% risk is recommended... 8% risk right now in my TE below
  • #124
  • Jun 29, 2020 9:19am Jun 29, 2020 9:19am
EURJPY flying!!! good to take that buy trade
GBPUSD... I took profit at 60 pips, too busy to monitor today... Still not sure ... the price may go up and cross at 60 pips profit.. I'll be happy with that.
Waiting for cross up on GBPUSD
  • #125
  • Jun 30, 2020 1:11pm Jun 30, 2020 1:11pm
Looking like it may cross up GBPUSD in the next few hours.. anyone holding buy trades will probably exit on 60 pips profit. im more interested in catching the thousand pip move, not the 200 pip one
EURJPY... Looking good
  • #126
  • Jun 30, 2020 1:19pm Jun 30, 2020 1:19pm
Quoting JustInNow
Thanks mkvy alot. Just love what simple this strategy give. I just want to contribute the pin script for this one if some one need. //@version=4 study (title = "EMA 13/63", shorttitle = "EMA13-63", overlay = true) // --------- Inputs src = input(defval = close, title = "Source") maFast1 = input(defval = 13, title = "EMA Fast 1") maFast2 = input(defval = 63, title = "EMA Fast 2") freePips = input(defval = 3,type=input.integer, title = "Free Pips") point = syminfo.mintick pip = point * 10 f_maFast1 = ema(src, maFast1) f_maFast2 = ema(src, maFast2)...
hey justinnow...i like the script...could you possibly compile it and provide the mq4 file? that would be awesome...thanks
"the fool and the prophet walk hand in hand..."
  • #127
  • Jun 30, 2020 1:32pm Jun 30, 2020 1:32pm
Quoting kaoscoded
{quote} hey justinnow...i like the script...could you possibly compile it and provide the mq4 file? that would be awesome...thanks
I dont think theres much need, as theres only a few trades a week with this system, and if your late to the signal,you normally have half a day or a whole day to trade it, sometimes the trade can last for 10 days
  • #128
  • Jun 30, 2020 1:54pm Jun 30, 2020 1:54pm
Quoting kaoscoded
{quote} hey justinnow...i like the script...could you possibly compile it and provide the mq4 file? that would be awesome...thanks

I dont think ea would work, as you have to wait for confirmation of a cross, not just a gap
  • #129
  • Jun 30, 2020 2:01pm Jun 30, 2020 2:01pm
Quoting mkvy
{quote} I dont think ea would work, as you have to wait for confirmation of a cross, not just a gap
hi mkvy...not interested in an ea...i don't use them...i really am only interested because it displays the price on the chart and if i miss the cross i can quickly see where it occurred
"the fool and the prophet walk hand in hand..."
  • #130
  • Jun 30, 2020 2:23pm Jun 30, 2020 2:23pm
Quoting kaoscoded
{quote} hi mkvy...not interested in an ea...i don't use them...i really am only interested because it displays the price on the chart and if i miss the cross i can quickly see where it occurred
There are many ma cross EA, i use MQLTA MT5 Moving Average Crossover Alert. It sends a push text (went it can be bothered) to my phone
  • #131
  • Jun 30, 2020 2:40pm Jun 30, 2020 2:40pm
Quoting mkvy
{quote} There are many ma cross EA, i use MQLTA MT5 Moving Average Crossover Alert. It sends a push text (went it can be bothered) to my phone

thanks for the tip!
"the fool and the prophet walk hand in hand..."
  • #132
  • Jul 1, 2020 4:46am Jul 1, 2020 4:46am
Thanks Mkvy. Just catch the GBPUSD move this morning. Everything look really good now.
  • #133
  • Jul 1, 2020 6:03am Jul 1, 2020 6:03am
Ej crossed wait for confirmation
  • #134
  • Jul 1, 2020 3:11pm Jul 1, 2020 3:11pm
Hi and thanks for your ideas!
What do you call
Quoting mkvy
confirmed cross
?
Just an opinion. Based on research
  • #135
  • Jul 3, 2020 5:41am Jul 3, 2020 5:41am
I am dumping EURJPY, not trading that one any more... I lost an accumulated 50+ pips over the last few weeks. Anything connected to the Euro is a waste of time. Sticking with the original plan GBPUSD... Less stressfull.. just one chart to follow, love it
  • #136
  • Jul 3, 2020 9:24am Jul 3, 2020 9:24am
... I totally agree but when u had GU with EJ I was like now GU & EU sounds better..but same here bro GU is more stable n consistent with its move..I guess we gotta double up on GU since we dropping Euro
  • #137
  • Jul 3, 2020 11:44am Jul 3, 2020 11:44am
Quoting pantherrilla
... I totally agree but when u had GU with EJ I was like now GU & EU sounds better..but same here bro GU is more stable n consistent with its move..I guess we gotta double up on GU since we dropping Euro
Yes, doubling up on the next cross with GU..
anything with euro is pants agreed. Fortunately the combined loss was only around 50 pips, no problemo, concentrate on a currency that has more conviction
  • #138
  • Jul 3, 2020 2:14pm Jul 3, 2020 2:14pm
  • #139
  • Jul 4, 2020 5:45am Jul 4, 2020 5:45am
Please answer my question:
what do you call
Quoting mkvy
confirmed cross
?
Because I don't see any confirmation description on your previous pages
Just an opinion. Based on research
  • #140
  • Jul 4, 2020 5:58am Jul 4, 2020 5:58am
Quoting mkvy
I am dumping EURJPY, not trading that one any more... I lost an accumulated 50+ pips over the last few weeks. Anything connected to the Euro is a waste of time. Sticking with the original plan GBPUSD... Less stressfull.. just one chart to follow, love it
It's not EJ problem ))
It's usual MA problem cos it works as a toilet in a flat market. That's why I ask you again and again: what is your criteria of cross confirmation?
Just an opinion. Based on research
0 traders viewing now