setting it up as we speak. Took overnight to be delivered to my email.
I will post the link after I know its not a crap knockoff.
- #1,822
- Jan 20, 2023 11:00am Jan 20, 2023 11:00am
josh1111, The EA is in the top right corner of the Chart, I have the original version and not the latest. The additional trade entries are defined by the dotted green lines like any pending order trades. The EA only does pending orders in accordance with the first manual trade position, I do not think any EA reverses without closing the first trade. I use it to double the pips won using a short pip value, like 1 to 3 pips and then TP around 3 to 5 pips because I scalp on the 1 or 5M TF. I was told you can find the older versions on the internet...
This is what I am seeing:
- #1,825
- Edited Jan 21, 2023 12:53am Jan 20, 2023 7:30pm | Edited Jan 21, 2023 12:53am
- Joined Dec 2022 | Status: Trader | 3,233 Posts
{quote}I'm not sure I understand well: you went on and on selling on that up trend? If you don't mind sharing, what was the max drawdown compared to that $9 you got in the end? At a glance, there were about 30 pips on that up move (surely not extreme: even EU can run much more than that). How about buying with the trend? With just a couple of trades around your first entries you would have made more than that, with the added bonus to control your risk and with less heartache. Also, imagine scaling in along the way! Not being cynical, but I think...
i agree completely with your sentiments hammertop and it sounds like you understand how the system should work very well, i was also wondering what the dradown was at the peak, please let us know if you recall cliffjaded...
with regard to what most in this thread are trying to achieve it is the development of the counter trend ema system, and a big part of that development is risk management, but ideally, it is to avoid counter trading into tough trends to begin with and more importantly TO EXIT immediately once you realise the trade is not going your way, this takes much time and practice and all boils down to timing and discipline to control greed - the majority of counter trend trades should be short and sweet, if it's not looking like hitting the target, take whatever is on offer, if it had a whole lot more to offer, bad luck, move onto the next trade and stay safe, here's a sequence from yesterday that may demonstrate that if it helps anyone
and here's a perfect example i've just encountered while running the sim today of exiting the trade when it is clearly not going to reach the target
in the yellow circle, i was aiming for ema20, when it became clear via price action that it was not going to reach it, i EXITED IMMEDIATELY and am ready to move onto the next trade (gotta love the pause button!)- always place the current trend into context - when ema200 is trending all counter trend trades against the trend should be managed aggressively, counter trend trades in the direction of the trend are easier to deal with
but its not always that easy, straight after that, this happened, what would you do? wait it out or reverse and follow the trend?
its easy to say, especially in hindsight, "you should of just followed the trend", in reality, that is a lot more difficult to do
study the price action and volume to always stay on top of your trade, leave exponential gaps between your orders to maintain a manageable break even level, and adjust take profit levels each time price moves against you, my initial TP was a lot lower than what i ended up taking
every minute matters!
{quote}I'm not sure I understand well: you went on and on selling on that up trend? If you don't mind sharing, what was the max drawdown compared to that $9 you got in the end? At a glance, there were about 30 pips on that up move (surely not extreme: even EU can run much more than that). How about buying with the trend? With just a couple of trades around your first entries you would have made more than that, with the added bonus to control your risk and with less heartache. Also, imagine scaling in along the way! Not being cynical, but I think...
I usually hedge by trading with and against the trend. I did a stupid amount of averaging to escape that trend when I should have traded with the trend. The reason I did so much averaging was to raise the average breakeven line to be in line with the 200ema on a separate M1 chart so when the mean reversion happened, I could exit with a minor profit.
The max drawdown was about 5% which was about $50. My usual practice is while i'm averaging, I will attempt to hedge also. Easier said than done. The reason why I'm using a live account because is I want to feel some serious stress as I stress-test this system. I will go over my trades yesterday and see how I can do better (i definitely can).
I've actually developed a much safer M5 mean reversion system that will see a drawdown of about 10+% but takes several days to recover to achieve a 2% return.
Leave the Gun, Take the Armani
- #1,828
- Jan 21, 2023 3:59am Jan 21, 2023 3:59am
{quote} ... Please don't follow my example. ..
For the record, a friend who was lured by buying into kof gave me the chance to have a glance at his 2 main most priced strategies... Even he advises to cut the losses opposite to what is shown in the YT videos. But, believe me, it's a lot of blabbering about his "secrets" repeated ad nauseam, probably in order to increase the size of the videos and give more weight to his sale. No trades shown, by the way... And it's pretty obvious in the videos that he uses demo accounts. Also, last but not least, why would he sell the Holy Grail at all and at such a low price? He should be a multibillionaire by now, sipping his piña colada on his own private beach in the Caribbean: quite some food for thought...
{quote}That's exactly what I was concerned about. Some people might be lead to think that's the correct way to go till the account is blown. If you know what you're doing, hats off to you though.
What isn't shown in the screenshots I posted are all the trendlines and S&R lines i drew to indicate potential points of bounces. Only one time i aggressively averaged to see how much drawdown (and sweat) I could take. I will admit it was pure luck i escaped out of that. The Euro has been making large trending moves these 3 years compared to before the pandemic when it had a pathetic ADR.
I will annotate clean entries for both directions in my next trades and give clear logic and rules. Cheers mate!
P.S. Once again, please don't follow my example and average recklessly, traders!
Leave the Gun, Take the Armani
- #1,830
- Edited 5:43am Jan 21, 2023 4:54am | Edited 5:43am
- Joined Oct 2022 | Status: frog in shell totally active | 1,180 Posts
A simple logic
If only Abade and cpfleger used the follow trend technique, and used TF 5
I'm sure they could become billionaires why ?
Because they just follow the trend and stop when the counter trend
and start again when there is a trend
Like anyone who can predict HH-LL more validly
Maybe
If only Abade and cpfleger used the follow trend technique, and used TF 5
I'm sure they could become billionaires why ?
Because they just follow the trend and stop when the counter trend
and start again when there is a trend
Like anyone who can predict HH-LL more validly
Maybe
- #1,832
- Jan 21, 2023 7:28am Jan 21, 2023 7:28am
- Joined Oct 2022 | Status: frog in shell totally active | 1,180 Posts
- #1,836
- Edited 11:11am Jan 21, 2023 10:59am | Edited 11:11am
- Joined Oct 2022 | Status: frog in shell totally active | 1,180 Posts
EMA System - 2 for 1 system. {image}
I think the counter trend is against the trend, but you buy orders in the buy trend
3 The EMA line clearly shows the buy trend
But it doesn't matter to me, especially since I'm not an idealist
Profit pips and take advantage of more important opportunities
