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Attachments: The Small Turtle System (Donchian Trend +MACD)
Exit Attachments

The Small Turtle System (Donchian Trend +MACD)

Quoting delphene
{quote} Thank you jpntrader - very clearly stated and most helpful
You're very welcome.
Ask anything about this system and if I have a proven knowledge, I will share it.
Quoting jpntrader
{quote} Solid, man. Solid. Is this an EA?
no, i am using this strategy with time frame H4
Quoting BrunoB
Hi guys, I've started this strategy this week and took my first trade yesterday. I had to close it down due to color change. I'm eager to hear some feedback on the trade. It close down for a small profit. Thanks for the info Ali I'm glad I run into this system I really like it because it's on the 4hour timeframe so I can have my dayjob and trade at the same time! {image}
Hello Bruno
I assume the red vertical line is the signal candle?
This is a great trade. But for me, I probably would not take it because the signal candle is the third candle already that changes color.
Quoting a late forexfactory member on the thread "Trading Made Simple" (eelfranz), it is said that heikin ashi/APB candle averages about 3-8 candles after it changes color.
So, if the signal candle is already the third one, it's safer if we do not take it.
(exception if the first candle is an indecision candle: a nearly nonexistent body and very very long wick above and below. In this case I would take the trade.)

Even when the red line is actually your entry (meaning the signal candle is the second blue candle there), I would probably still not take it because candle body hasn't broken the 5 EMA yet.

Me too, have just migrated from 1H to 4H due to day job that is getting more demanding.
Let's do this together, Bruno.
Quoting jpntrader
{quote} Hello Bruno I assume the red vertical line is the signal candle? This is a great trade. But for me, I probably would not take it because the signal candle is the third candle already that changes color. Quoting a late forexfactory member on the thread "Trading Made Simple" (eelfranz), it is said that heikin ashi/APB candle averages about 3-8 candles after it changes color. So, if the signal candle is already the third one, it's safer if we do not take it. (exception if the first candle is an indecision candle: a nearly nonexistent body and...
Hi Jpn
did you try 12 H or 8 H ?
To me, the problem with 4 H is leaving candles open whilst asleep!
I remember reading a lot about eelfranz, (I think he passed away.. ). He used to put the alarm clock in the middle of the night to check his 4H candles.
12 H gives you fewer opportunities, BUT you can increase the number of pairs. At the moment I am setting up some Commodities, Sugar, Wheat, Bonds, etc. They are less correlated to Forex and less correlated to each other. They do have weird trading hours though.
I thought this might help some people that are not used to Synergy APB candles, they are explained by the man that designed them. Also I have attached the synergy pro apb that he talks about a bit later in the video, I don't like using the PAC that comes with that but I change the colour yellow into none under inputs.
Inserted Video
Attached File(s)
File Type: ex4 Synergy_Pro_APB.ex4   19 KB | 205 downloads
Quoting jpntrader
{quote} Hello Bruno I assume the red vertical line is the signal candle? This is a great trade. But for me, I probably would not take it because the signal candle is the third candle already that changes color. Quoting a late forexfactory member on the thread "Trading Made Simple" (eelfranz), it is said that heikin ashi/APB candle averages about 3-8 candles after it changes color. So, if the signal candle is already the third one, it's safer if we do not take it. (exception if the first candle is an indecision candle: a nearly nonexistent body and...
Moving to 4HR candles.

Interesting. I’ve thought about that but I wonder if we live in the wrong time zone? My candles are 8AM, midday, 4PM, 8PM, midnight and 4AM. So in reality only 2 of those candles (8PM and midnight) would show significant movement and be tradeable. The rest are either Asian session (no movement) or while I’m asleep.

Finding the best TF to trade as an Australian-based trader is certainly a conundrum.
Quoting cuchuflito
{quote} Hi Jpn did you try 12 H or 8 H ? To me, the problem with 4 H is leaving candles open whilst asleep! I remember reading a lot about eelfranz, (I think he passed away.. ). He used to put the alarm clock in the middle of the night to check his 4H candles. 12 H gives you fewer opportunities, BUT you can increase the number of pairs. At the moment I am setting up some Commodities, Sugar, Wheat, Bonds, etc. They are less correlated to Forex and less correlated to each other. They do have weird trading hours though.
Haven't tried that! I do the charting on Tradingview, and in november the pro license is going to expire so I will lose the ability to see custom time frames.. So if not 4H, I think the jump I will make is going to be straight to the daily TF.

On 8H and 12H, does this mean the opportunity to monitor your trade will always be during your awake state? So even you sleep for 9 hours straight, it won't be a problem?
I am sure as well that there will be less opportunities, but when you are in a trade, it must feel like there isn't any because it doesn't interrupt your day. Therefore, more calmed psychology.

Yeah, I am still learning to bring a trade overnight.
There is this one trade this week that made me feel uneasy at midnight.. Kept having shallow sleeps, got awake for several times at around 2-4 AM because I suddenly thought "did the trade hit SL?? Should I check my phone in case it's time to set BE??"
But I managed to let it go, and checked the trade the morning after.
Quite the character development for me, eh? Haha.

Yes, eelfranz passed away in 2012, and I think he needed to wake up in the middle of the night to take medication or so.
Rest in peace, Eric Eelfranz. Your education really brought us together.
Quoting lynnc
I thought this might help some people that are not used to Synergy APB candles, they are explained by the man that designed them. Also I have attached the synergy pro apb that he talks about a bit later in the video, I don't like using the PAC that comes with that but I change the colour yellow into none under inputs. https://www.youtube.com/watch?v=vOQV5JlXnOc {file}
One question.. Is APB different from heikin ashi?
Please educate me.
Quoting BigKev67
{quote} Moving to 4HR candles. Interesting. I’ve thought about that but I wonder if we live in the wrong time zone? My candles are 8AM, midday, 4PM, 8PM, midnight and 4AM. So in reality only 2 of those candles (8PM and midnight) would show significant movement and be tradeable. The rest are either Asian session (no movement) or while I’m asleep. Finding the best TF to trade as an Australian-based trader is certainly a conundrum.
Big Kev, that means 8PM is after London open, and midnight is after NY open?
In November, the western world is going to enter daylight saving time, right?
That means the candle will be 9AM, 1PM, 9PM, and 1AM.

This should give you an extra candle to trade from (9AM-1PM-9PM candle)
Quoting jpntrader
{quote} One question.. Is APB different from heikin ashi? Please educate me.
The calculations are different from HA. At the very start of the video he explains the difference better than I could, roughly 1 minute in.
Quoting lynnc
{quote}The calculations are different from HA. At the very start of the video he explains the difference better than I could, roughly 1 minute in.
OK, I will watch it tonight. I was in the middle of my work break when I replied to you. Thank you.
Quoting cuchuflito
Hidden
Hi
Please remove that commercial link as it may cause problem.

Alternatively, for 12 hr periods you may use MT5 platform (live or demo) which has built-in all hour time frames.
Regards
Quoting howard
{quote}{quote} Hi Please remove that commercial link as it may cause problem. Alternatively, for 12 hr periods you may use MT5 platform (live or demo) which has built-in all hour time frames.
So how about you remove the one for MT5, which is also commercial?
To ALI or to JPN (the more aknowledged here..)

Sorry but i have a big doubt on a basic

In post #5, ALi wrote : " when blue crosse red above zero level of macd that more consertive"

Does it mean that if the cross happens BEFORE both blue and red cross the zero line the trade is better? (more conservative)?
I attach the draw of post #5 of ALI
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 80 KB
Here my confusion, here what i understood
1. cross red blue exactly on zero line is A+ trade
2. The question i wrote before: if the cross happens in SELL (above zero line) as in the picture is good or not and viceversa in BUY (below zero line)?

Thanks

Paolo
here another picture of ALI
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 75 KB
Here in the above picture In the The win trade marked by ALI, the the cross happened al lot above zero.
Have i to consider this setup? If yes is there a rule?

Ok i undestood A+ setup but some of you in some post consider also this cross very above or below zero line...

Thanks for help

Paolo
Quoting paolo7
here another picture of ALI {image}Here in the above picture In the The win trade marked by ALI, the the cross happened al lot above zero. Have i to consider this setup? If yes is there a rule? Ok i undestood A+ setup but some of you in some post consider also this cross very above or below zero line... Thanks for help Paolo
Hi Paolo
You understood properly, that is the way I do it too.
Ali also mentions different triggers for more experienced traders. I understand JPN only uses triggers above or below the 0 levels.
Again, you need to find the pizza that tastes the best to your palate.
All the best.
Quoting paolo7
To ALI or to JPN (the more aknowledged here..) Sorry but i have a big doubt on a basic In post #5, ALi wrote : " when blue crosse red above zero level of macd that more consertive" Does it mean that if the cross happens BEFORE both blue and red cross the zero line the trade is better? (more conservative)? I attach the draw of post #5 of ALI {image}Here my confusion, here what i understood 1. cross red blue exactly on zero line is A+ trade 2. The question i wrote before: if the cross happens in SELL (above zero line) as in the picture is good or...
No need to apologize, Paolo.
I totally understand your concern. We need to make sure the detail as this will determine our judgement.

Quote
Here my confusion, here what i understood
1. cross red blue exactly on zero line is A+ trade
2. The question i wrote before: if the cross happens in SELL (above zero line) as in the picture is good or not and viceversa in BUY (below zero line)?
If we are SELLING but the MACD cross happens while it's still ABOVE zero level, for me personally, I would not take it.
Back to your example:
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 99 KB

See the second trade, where we are selling but the MACD cross is still above zero level?
That trade ended up in profit but I think it's a smaller one.

Quote
Here in the above picture In the The win trade marked by ALI, the the cross happened al lot above zero.
Have i to consider this setup? If yes is there a rule?
You know, the thing is, sometimes this scenario works (like your example), sometimes it doesn't.
That's why Ali is incorporating every signal the system has, to prepare ourselves when it actually works.
Ali takes this signal, but I don't, but we both are still in this Turtle System together.

So the question now is, how about you, right?
Let's see, can you backtest this "selling while MACD is still above zero level" thing, and see the outcome for yourself?
That way, you can actually determine if this type of setup is suitable for you or not.

That's the only way to find out if a system is for you or not: try it yourself!
I am where I am today with this system because I have spent countless hours to determine which part of this turtle system actually goes well with me,

cuchuflito said it perfectly: you need to find the pizza that tastes the best to your palate!
Ali and me are eating at the same pizza store, but he likes pepperoni while I like cheese, but again it's the same pizza store!
Buenos dias : here´s my watchlist, H12.

GBPAUD
GBPNZD
EURGBP
COPPER
SILVER

Btw. there are some free indicators that convert charts to any time frame on the Mt4, you need to google them at Forex Factory, or youtube.
I prefer the one I use.

Since I started the 12H, one position test, with real money some 10 days ago, I have a small realized profit, 5 open positions with one slightly in the red, one still running with a big profit, and another one with a very decent one.
All in all, once these trades are closed, they will produce a very good result.
Thanks, Ali, Jpn, and the rest of the very good advice.
Quoting cuchuflito
Buenos dias : here´s my watchlist, H12. GBPAUD GBPNZD EURGBP COPPER SILVER Btw. there are some free indicators that convert charts to any time frame on the Mt4, you need to google them at Forex Factory, or youtube. I prefer the one I use. Since I started the 12H, one position test, with real money some 10 days ago, I have a small realized profit, 5 open positions with one slightly in the red, one still running with a big profit, and another one with a very decent one. All in all, once these trades are closed, they will produce a very good...
I thank you too for the information you gave us, I learned a lot as well.

(Have I told you all that I really love the vibe in this thread? No name calling, no bad words; only respect to everyone)
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