Dislikedlooking into my IBFX 4H chart your entry is two candles late, am I missing something?Ignored
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Dislikedlooking into my IBFX 4H chart your entry is two candles late, am I missing something?Ignored
DislikedI trade with alpari. The price I entered with current bar is nearly same as what price I would have entered 2 bars ago. So I thought it was a pullback. How to see the difference from a pullback and reversal?Ignored
Dislikedactually the chunky bar was the one where the second cross occured.. some 140 pips :-) I got that one :-) demo :-/... I did it exactly as you suggested and also Vynner mentioned that,. as the 13 touched the 50 i was in.. and was lucky with all those news.
The pullback/reverse... I think that is why the 50 pip stoploss is there... according to the system rules you should have let the trade run until it would be stopped by the S/L or it may also decide to drop down and start giving you pips... the 50S/L gives enough space for any "games" of the price at the begining before it decides , if it has not decided during the crosses
elmIgnored
DislikedI was trading gbp/jpy last night. The system gave an entry at 237.37, at least on Alpari UK. What I've noticed with this system and gbp/jpy is that price tends to pull back before it goes down. So I have a couple of suggestions:
1. Wait till 13 ema crosses 50 ema completely (new candles opens)
2. Once the cross occurs and new candle opens, use 5-30 min TFs to enter your trade. Don't just jump in right away.
Last night I got an entry at 237.54, which is not perfect, but a little better. Currency pair made a low at 236.43, but I stuck to the rules and ended up exiting pretty much at break even. In the future I will exit 1/3 or 1/2 of my position at 50 or 100 pips profit. Those are my observations. Good luck
martiniIgnored
DislikedThanks martini, in my opinion, 4 Hour chart is already late in a trend. If you look at the 4H chart, the signal (final cross) occured at the near end of the trend. The real downtrend began on 10. 05. 2007 at 8.00am GMT (4 Hour Chart). So, if this 13-50 cross occurs at the middle or very end of a trend????? Also, I think, this method is ok for a very very long trend, and otherwise entry points has to be very carefully selected. I believe if you are trading on a big frame, no need to lose unless you are very very late on a trend according to that timeframe. Any suggestions???Ignored
DislikedThanks for your feedback. I wish we could find a good way to filter the trades and enter right when the new trend is forming, but unfortunately system doesn't really work on lower TFs as it is. The only way I see it working is if we can identify the trend on 4h chart -> 5 ema crosses and 13 ema is approximately 2 candles from crossing. Then we could go back to 1h chart and see if the cross of 13 ema has occurred and look for entry.
In GBP/JPY example:
4H CHART 5.10.2007 // 12:00H
Candle was in a downtrend and 5 ema had crossed. 13 ema was approaching 50 ema. This is where we go back to 1h chart.
1H CHART 5.10.2007 // 18:00H
The entry is at 238.68 once both 5ema and 13 ema have crossed completely.
Any suggestions?Ignored
DislikedThat is much much better to consider. This way, one thing we can be early in the trend, or if a bad trade (the final cross is about to happen but not, and trend changes on 4H chart- this is the exit) early to exit. Actually, we can try this entry rules from now on and I firmly believe this will bring good trades. As most recently, I didn't see any better trades for past 2 or so weeks with original entry method. Thanks martini and elmer for your suggestions. Keeps all of us on track. http://www.forexfactory.com/images/icons/icon14.gifIgnored
DislikedAnyway, I have some ideas combining this system and another system here from FF, I also am thinking about a custom indicator for that, but I need programmer. I can define the logic, but I dont know the mq4 language enough , so I keep making errors in the code which I dont know how to repair. Even though my indicator is really simple....
elmerIgnored
DislikedElmer, Thanks for your effort. I am willing to be as a tester. Thasnks.Ignored
DislikedHello, the indicator can be found in this thread http://www.forexfactory.com/showthread.php?t=29419 please go there
, I dont want to make mess in VyNNers thread:-)
You will find that at this moment it has a form of MACD formed by DEMA averages. My first suggestion where to start is set it to 4-13-1 so we ignore the signal line and have the same periods as VyNNer. Some time ago in this thread it was suggested to use Dema for exit and re-entry.. so thats my first suggestion. Enjoy.
elmerIgnored
DislikedHello, the indicator can be found in this thread http://www.forexfactory.com/showthread.php?t=29419 please go there
, I dont want to make mess in VyNNers thread:-)
You will find that at this moment it has a form of MACD formed by DEMA averages. My first suggestion where to start is set it to 4-13-1 so we ignore the signal line and have the same periods as VyNNer. Some time ago in this thread it was suggested to use Dema for exit and re-entry.. so thats my first suggestion. Enjoy.
elmerIgnored
DislikedPowerful system, does anyone know if there is an EA for Metatrader..? I did a quick search of the Metatrader forum with no results..?
Thanks in advance...Ignored
Dislikedhi everyone ,
i seem to use completely different charting software and brokerages to all of you here on this thread . is anyone here from the u.k ? i use i g index as they offer the best deal . because it is a spread betting company , there is no tax to pay on any profit that i make . i would like to know if there are any uk spread betting companies that also do auto entriey trading for you ,once you have programmed your strategy into a computer lanugauge that they can auto enter for you ? i know of 1 in new york , but they will only do this with a minimum of $10,000 in your trading account and also their minimum size is a 100k trade . and also transferring the money back and forth to the u.s is akward . so anyone out there know of a company in the u.k ?Ignored