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Attachments: Great GBP/USD Strategy for Swing Trades
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Great GBP/USD Strategy for Swing Trades

  • #561
  • May 2, 2007 6:45am May 2, 2007 6:45am
Good luck. I'm entering on the cross close rather than open at the moment. Big difference in our entries, 50 odd pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 4x13x50 2nd May Entry Log.jpg Size: 35 KB
  • #562
  • May 2, 2007 10:58am May 2, 2007 10:58am
Nice system based on Daily charts to filter out possible bad trades.

However, using Stoch on D1 is not sufficient to filter out bad trades when the market is "consolidating". Would it be feasible to add another indicator to filter out "consolidation"? I was thinking of MACD - enter a trade only when Daily MACD is beyond the 0.0030 levels.

Likewise, we need a better "closure" signal. EMA4 and EMA50 crossing at times isnt enough. Example, this 2 weeks, I got a signal to short @ 1.9950 last Apr 26 but it was quickly stopped out after making almost 100 pips profit.

Today, I got another short signal @ 1.9950 again! currently +50, what to do?

Hmm.. can we use D1 signals to close out trades? ie, currently D1 is bearish, do we hold onto our short until D1 chart shows bullish stoch (or MACD) signal ?
  • #563
  • May 2, 2007 5:52pm May 2, 2007 5:52pm
Quoting BurgerKing
Nice system based on Daily charts to filter out possible bad trades.

However, using Stoch on D1 is not sufficient to filter out bad trades when the market is "consolidating". Would it be feasible to add another indicator to filter out "consolidation"? I was thinking of MACD - enter a trade only when Daily MACD is beyond the 0.0030 levels.

Likewise, we need a better "closure" signal. EMA4 and EMA50 crossing at times isnt enough. Example, this 2 weeks, I got a signal to short @ 1.9950 last Apr 26 but it was quickly stopped out after making almost 100 pips profit.

Today, I got another short signal @ 1.9950 again! currently +50, what to do?

Hmm.. can we use D1 signals to close out trades? ie, currently D1 is bearish, do we hold onto our short until D1 chart shows bullish stoch (or MACD) signal ?
Hello BK, adding another filter is good but may also missed out opportunities. A few ways to max this system:
Set a minimum distant between the 13EMA & 50EMA before the signal is valid.
Waiting for the Price to pull back to the 4EMA before executing serves as another "filter" for better price entry.
Trailing stops to ensure pips and setting TP targets also makes this strategy good.

So far using fib-Ext as targets have been ok for me. What I do is when first target is met, I would just liquidate partially and shift the rest to break-even. Times are bad..if I can squeeze out 50 pips, hey why not? I also always place a 300 pips profit target... just in case
  • #564
  • May 2, 2007 9:56pm May 2, 2007 9:56pm
Im currently writing an EA for this but am getting mixed results.

From 2007Jan to End of April:
It managed to make 10K to 20K with 0 Trailing, 300 TP, 50 SL.
But with Trailing, it failed miserably!

Anyone working on an EA? I sure could use some help collaborating our work.
  • #565
  • May 3, 2007 12:17am May 3, 2007 12:17am
Has anyone ever tried SHI channel and CCI for filters?...


this is just a suggestion.If I am wrong please correct me.. refer to the attachment.

1. enter here

2. exit when the CCI crosses 0 ( buy = cci crosses below 0, sell = cci crosses above 0 ).I found out that you will get an earlier exit signal compared to the MAs

3. Signal came out but reversed when it touched the SHI channel

4. Same as #3
Attached Image (click to enlarge)
Click to Enlarge Name: ss.jpg Size: 46 KB
  • #566
  • May 3, 2007 1:05am May 3, 2007 1:05am
Im a little familiar with CCI, been studying a CCI50 (on a different trend)..

So what you are saying is look at D1 charts (using either Sto, RSI, MACD, MAs) to figure the trend, and then use CCI on H4 to enter?

Hmm... I would agree indeed that CCI is faster than MA especially during "consolidations".



Quoting fayeez
Has anyone ever tried SHI channel and CCI for filters?...


this is just a suggestion.If I am wrong please correct me.. refer to the attachment.

1. enter here

2. exit when the CCI crosses 0 ( buy = cci crosses below 0, sell = cci crosses above 0 ).I found out that you will get an earlier exit signal compared to the MAs

3. Signal came out but reversed when it touched the SHI channel

4. Same as #3
  • #567
  • May 3, 2007 1:16am May 3, 2007 1:16am
I didn't use the cci to enter...just as a signal for exit.Its faster than the 2 MAs(2 or 3 candles faster), provided that you use the crossing of the MAs as your exit rule.I use the CCI on a 4H timeframe.

Maybe during "consolidations" , you can use the SHI channel coz the candles bounce off the bottom and top channel even after the signal came out.Just my 2cent.Again, correct me if im wrong.
  • #568
  • May 3, 2007 7:50am May 3, 2007 7:50am
Quoting ChowClown
Good luck. I'm entering on the cross close rather than open at the moment. Big difference in our entries, 50 odd pips.
...stopped out for -50 right on the turn. Seen enough over the last few weeks to move to entering as the 13 crosses the 50, rather than waiting for confirmation - the 50 pip sl seems too tight if entering on the cross close. Won't be able to use the automation i'm currently using for these entries though, but then it's hardly a labour intensive method, just have to hope not too many entries are triggered when asleep.

Lost 50 on yesterday's swissy long too earlier.
  • #569
  • May 3, 2007 8:02am May 3, 2007 8:02am
chowclown....
*Warning - this is my opinion* - be careful not to change too many entry and exit rules too soon... any method needs time... otherwise you may fall into the trap of "curve-fitting"...
a few weeks isn't enough time to truly test out an idea. it needs months at least. i am using the standard method laid out in post #1 and am still in short on cable and at present up 22 pips.
cable trades so far for me with this method +86 (i saw resistance and exited early, waiting for the cross would have given me +207 ... no-ones perfect), and -50, and this trade.. open.
  • #570
  • May 3, 2007 8:36am May 3, 2007 8:36am
Quoting ryanmel
chowclown....
*Warning - this is my opinion* - be careful not to change too many entry and exit rules too soon... any method needs time... otherwise you may fall into the trap of "curve-fitting"...
a few weeks isn't enough time to truly test out an idea. it needs months at least. i am using the standard method laid out in post #1 and am still in short on cable and at present up 22 pips.
cable trades so far for me with this method +86 (i saw resistance and exited early, waiting for the cross would have given me +207 ... no-ones perfect), and -50, and this trade.. open.
Hear what your saying...due to limitations on the autotrader i'm currently using i wasn't entering in accordance with post #1 in the first place...i thought to myself, entering on the cross close wouldn't make too much difference (the 'bot is fine using closing cross data), so was prepared to run with it for a while. Seems clear to me that you have to enter as the 13 crosses the 50, to make the most from the method....as i see others are doing.
  • #571
  • May 3, 2007 8:56am May 3, 2007 8:56am
up 50 pips now... all good.
i like this method... it involves patience (i.e. waiting for the 13 to cross, the bar to close) which is something i am learning is important.
  • #572
  • May 3, 2007 9:01am May 3, 2007 9:01am
Hi,

Somebody mentioned earlier that this system is similar to Rob Booker's 5/13/62 system. I do not want to confuse this thread with another system, but perhaps looking at the similarities and differences may help to make Vynner's system a little more effective. So I will outline the ideas here briefly.

Essentially, Rob Booker's system is :

(1) Watch for 5 EMA crossing 13 EMA

(2) Then wait for 13 EMA to cross 62 EMA

So far it sounds quite similar to Vynner's system. But Rob Booker also adds this :

(3) Wait for the 13 EMA to continue to move approximately 30 pips away from 62 EMA in the expected direction (this obviously makes the 13/62 cross more reliable)

(4) Wait for the 13 EMA to retrace near to the 62 EMA, then enter.

One of the main differences between Vynner's and Rob Booker's systems is that Vynner is optimized for 4 Hour charts, but Rob Booker is optimized for much lower TF - generally around 5-30 minutes.

I wonder if Rob Booker's filter (step 3) and retrace (step 4) could be useful in making Vynner's system more effective? Perhaps not, due to the difference in timeframes. Nevertheless, it may be worth checking... What do you think?

Regards,
Jin
  • #573
  • May 3, 2007 9:28am May 3, 2007 9:28am
Quoting ryanmel
up 50 pips now... all good.
i like this method... it involves patience (i.e. waiting for the 13 to cross, the bar to close) which is something i am learning is important.
hi ryanmel,

Could you post a pic with your chart and the 13/50 cross on close. Just need to compare with my own chart.

Thanks.
  • #574
  • May 3, 2007 9:36am May 3, 2007 9:36am
jin,

Does the setup, for the 5 minute chart, that you have below, occur every day for the gbp/usd?

thanks,

hilton

Quoting Jin
Hi,

Somebody mentioned earlier that this system is similar to Rob Booker's 5/13/62 system. I do not want to confuse this thread with another system, but perhaps looking at the similarities and differences may help to make Vynner's system a little more effective. So I will outline the ideas here briefly.

Essentially, Rob Booker's system is :

(1) Watch for 5 EMA crossing 13 EMA

(2) Then wait for 13 EMA to cross 62 EMA

So far it sounds quite similar to Vynner's system. But Rob Booker also adds this :

(3) Wait for the 13 EMA to continue to move approximately 30 pips away from 62 EMA in the expected direction (this obviously makes the 13/62 cross more reliable)

(4) Wait for the 13 EMA to retrace near to the 62 EMA, then enter.

One of the main differences between Vynner's and Rob Booker's systems is that Vynner is optimized for 4 Hour charts, but Rob Booker is optimized for much lower TF - generally around 5-30 minutes.

I wonder if Rob Booker's filter (step 3) and retrace (step 4) could be useful in making Vynner's system more effective? Perhaps not, due to the difference in timeframes. Nevertheless, it may be worth checking... What do you think?

Regards,
Jin
  • #575
  • May 3, 2007 9:38am May 3, 2007 9:38am
Correct me if I'm wrong, but it looks like from the chart you show that the first cross occurs on May 1st. Is this correct?

thanks,

hilton

Quoting Cashcalf
Crossed...Daily Stocs also down
  • #576
  • May 3, 2007 9:44am May 3, 2007 9:44am
Quoting ChowClown
hi ryanmel,

Could you post a pic with your chart and the 13/50 cross on close. Just need to compare with my own chart.

Thanks.
can't work out how to screen grab with gft or this notebook, my pc is on a truck across the country with the rest of my belongings (mid-move)...

my chart uses 00:00GMT for the daily bar, and I entered on the open of the 04:00GMT 4H bar yesterday 2nd May. (1.9943) hope this helps.
  • #577
  • May 3, 2007 9:48am May 3, 2007 9:48am
Quoting currencytrader
Correct me if I'm wrong, but it looks like from the chart you show that the first cross occurs on May 1st. Is this correct?

thanks,

hilton
It crossed 2 May.
  • #578
  • May 3, 2007 10:16am May 3, 2007 10:16am
I have been toying with Daily MACD to support Sto.

Attached is my MACD Indicator. This indicator can be used to impose D1 MACD on H4/H1 charts.

ie, you have H4 charts up, but wants to plot D1 MACD; just enter the PERIOD "D1" in the input screen.
Attached File(s)
File Type: ex4 Burger MACD.ex4   4 KB | 621 downloads
  • #579
  • May 3, 2007 10:30am May 3, 2007 10:30am
Quoting ryanmel
can't work out how to screen grab with gft or this notebook, my pc is on a truck across the country with the rest of my belongings (mid-move)...

my chart uses 00:00GMT for the daily bar, and I entered on the open of the 04:00GMT 4H bar yesterday 2nd May. (1.9943) hope this helps.
Thanks ryanmel. My bot's 13ema was still above the 50 at that point, their feed seems quite different to the mainstream.
  • #580
  • May 4, 2007 12:54am May 4, 2007 12:54am
Quoting currencytrader
jin,

Does the setup, for the 5 minute chart, that you have below, occur every day for the gbp/usd?

thanks,

hilton

Hi,

Yes, using 5/13/62 there is often one trade a day, sometimes not... Anyway discussion of that method doesn't belong here, I was just wondering if the similarities could be helpful for this system. You can read more about 5/13/62 in the message below :

http://www.forexfactory.com/showthread.php?t=9365

Regards,
Jin
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