Two-day detailed report
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- #665
- Edited 11:07am Dec 23, 2022 10:50am | Edited 11:07am
Two-day detailed report {image}
I must say 2% Max DD and PF of 8 is very impressive and promising! However the sample is a bit too small to consider it to be fully representative of the strategy. By adding more setups and scenarios the PF should decrease and the Max DD should increase! But it really doesn't matter as long as our equity is moving in the right direction over the long term
Thanks for sharing!
Hi guys, I was watching m5, maybe better than m1, I am wondering how many times the price hit ema9 actually, but need clear evidence first, like here, I’ve got a very small profit and could have entered more times when the price goes up, but ema9 behave like a magnet, {image} {image}
Edit: I note the Cyan line is not really a 9 EMA but my eyes may be deceiving me.
Thanks for sharing!
{quote} Thats right. I havent made 1 single trade today. Nothing fitted my critera. up 14% for the month
MT5 has a new trading report feature that you can access by pressing Alt+E. It can give you an annual forecast by extrapolating your current performance into the future and other useful features (liking it a lot more than the MT4 report)
Some trades for today .. {image}
- #667
- Dec 23, 2022 11:45am Dec 23, 2022 11:45am
{quote} Be welcome my friend Magiruss! I must say 2% Max DD and PF of 8 is very impressive and promising! However the sample is a bit too small to consider it to be fully representative of the strategy. By adding more setups and scenarios the PF should decrease and the Max DD should increase! But it really doesn't matter as long as our equity is moving in the right direction over the long term
backtesting looks promising,just need to consider when ema fan is wide and price to be away from ema9,not to get destroyed buy strong trend like on this screenshoot AU,today sell gu was perfect, light blue is ema1
Make your own rules and stick to it.
{quote} Dear Abade, backtesting looks promising,just need to consider when ema fan is wide and price to be away from ema9,not to get destroyed buy strong trend like on this screenshoot AU,today sell gu was perfect, light blue is ema1 {image} {image} {image} {image} {image} {image} {image}
Are you using the EMA 1 for support and resistance or to trigger entries?
Thanks for sharing.
- #669
- Dec 23, 2022 1:14pm Dec 23, 2022 1:14pm
- Joined Dec 2015 | Status: Trader | 2,586 Posts
{quote} That's right my friend! Those seemingly endless trends is why I don't trust the AUD pairs or metals for countertrend trading, even the all mighty KoF is trapped inside those now and then for not picking the low fruits that GU give instead during the same time-lapse
I have managed to trade that way. A new trend is starting with a so called countertrade on the smallest timeframe.
Perfection is the enemy of good enough!
{quote} That's right my friend! Those seemingly endless trends is why I don't trust the AUD pairs or metals for countertrend trading, even the all mighty KoF is trapped inside those now and then for not picking the low fruits that GU give instead during the same time-lapse
What I found on m1 is LMA shifted 16 points in time make this pattern over and over ,see screenshoot,blue one is lma1 ,but this one is danger also,because as usual after the event all is clear
,one can trade after price cross shifted ma....
Make your own rules and stick to it.
{quote} Looking alone M1 is not clever. It is more dangerous using M1 alone and trade high position sizes. What if you have heavy momentum above several timeframe and build positions in the smaller timeframe? I have managed to trade that way. A new trend is starting with a so called countertrade on the smallest timeframe.
This is the start of that breakout in a lower timeframe:
Does it look unmanageable? Not by a long shot.
This is the next day (24) in the lower timeframe, the breakout in the daily is still developing with a small pullback:
The next day (25) the market keeps moving in the breakout direction and we got this:
Still manageable, lots of 20, 50 and 200 EMA touches. If you know a better example of a higher timeframe move that would become unmanageable in the lower timeframes (GBPUSD, EURUSD) feel free to share, it would help to develop better entries and money management for the strategies
{quote} Mostlly for triggering ,for long time playing with M1 to be honest, you know that great trader Parisboy ,on another thread, using FLD's also very successful,ma1 shifted 16,32 and 64 points in time and using those for SR...You can take a look... What I found on m1 is LMA shifted 16 points in time make this pattern over and over ,see screenshoot,blue one is lma1 ,but this one is danger also,because as usual after the event all is clear
{quote} I trade sort of like a grid. Add another position every -10 - 20 -30 etc max 10 positions. On the hope price retreats. I will exit either - 1 position or B/E or even + 1 you need to exept that your not going to hit it everytime and you need a management strategy. Because heavily positioned and hit a trend you could be in trouble. You want longevity
And of course that longevity should be the main focus of every trader and there is no such thing as 100% accuracy, I never implied otherwise. What I was trying to demonstrate with that example is that a higher timeframe breakout or trend does not imply that the lower timeframe becomes unmanageable by default.
{quote} RieseP, Mark Douglas is one of the classics, and of course that I have read his book (I have a psychology degree myself as well)
- #677
- Edited 1:37am Dec 24, 2022 12:31am | Edited 1:37am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
{quote} This is a strong move/breakout in the D1 (daily) EURUSD chart: {image} This is the start of that breakout in a lower timeframe: {image} Does it look unmanageable? Not by a long shot. This is the next day (24) in the lower timeframe, the breakout in the daily is still developing with a small pullback: {image} The next day (25) the market keeps moving in the breakout direction and we got this: {image} Still manageable, lots of 20, 50 and 200 EMA touches. If you know a better example of a higher timeframe move that would become unmanageable...
This is how it work for me.
Please watch daily, I only trade eurusd. How many candles you have in line before candles with wicks come?
It can not move over weeks building a pause.
Edit:
Here the daily, see what are after price move several days. Every time we got a pause and this are the place i wait for. I like what i read here because that is not far away from that what i do.
What will be more interesting is not how to enter, that is easy. More difficult is the money management and the concept to be not going in big drawdown. Hope in future we can see how other user manage it. Cutting loosing trades after X pips or after x candles? Compound trades and what are the filter doing it?
Perfection is the enemy of good enough!
- #678
- Edited 3:29pm Dec 24, 2022 3:16pm | Edited 3:29pm
{quote} First I watch the daily and if I am on a strong move. Is the previous candle without suitable wicks? If so I wait further for candles building wicks, good if it on both sides. What are the place I watch that? I use as simple filter the ema 5 and 20. If price is not over or under both, I do not trade it. I watch for the same on H4, M30 and M5. If over all time frames we are complete above or under Ema 5 and 20? I will wait for my entry. I reenter if price manage to go against my position with the Ema 10. I compound my trade ffast if I am...
The only rule is that we do mean reversion in the lower timeframes. We don't ride trends but trend filters are OK!!
PS: Merry Christmas to everybody
Oh! Oh! Old! jokes (we trade the christmas tree formation here):
{quote} Why would you use a standard account when the expenses (commission) for EU/GU and UJ are about $ 5.50 (round trip - 1 Lot) with a spread of practically 0. Then you have no commission on CFD's although apart from the higher spread they "tweak" their profits manipulating the tick value at their convenience...
I have never noticed any tick value manipulation against me, that one sounds dirty
