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34ema/atr

  • #121
  • May 31, 2007 1:59pm May 31, 2007 1:59pm
Hi wahomeron,

Thanks for sharing you system.
I think this great system for lower TF.
I'll test it

and i hope all on this thread post their result, open position and closing, to compare result each other, and to be better.

  • #122
  • May 31, 2007 2:16pm May 31, 2007 2:16pm
As it is lower time frame (scalping), not easy to post live trading, but can post end of day or end of week results. Good Luck.

Quoting okabija
Hi wahomeron,

Thanks for sharing you system.
I think this great system for lower TF.
I'll test it

and i hope all on this thread post their result, open position and closing, to compare result each other, and to be better.
  • #123
  • May 31, 2007 8:25pm May 31, 2007 8:25pm
Quoting wahomeron
hallo hornet, thanks for your interest. I would very much like to here your ideas on profit taking. As you can see, i have a profit taking setup but anything to improve on profitability is always open.
In my humble opinion, profit taking is what really makes or breaks a system, but also the most tricky part of system design.

As far as the false signals go, i have not found any technical filters that really give me an edge. Usually they tend to filter out a lot of good trades leaving me indecisive about the next signal. My only "filter" is no more than two bad trades a day.

Anyway i look forward to hearing any ideas that we can work together on.

cheers.
Hello Wahomeron
I generally don't post in these forums, but your system is somewhat similar to what I've been working on. The addition of a macd to your trade maybe worth a look. I use the one posted in MACD_Colored Indicator for 4 Hour Strategy (300+ Pips per Month) http://www.forexfactory.com/showthread.php?t=20349
If you look at the outside line (#2 color) crossing the 0 level line (add). Ok with the 5,13,1 set up on your 5min chart. Note: the #2 line crosses the 0 level line about the same time as the currency crosses/bounces off of your 34ema or close. Look at the color change of the histogram and the cross to help with your trade.
Have A Great Day!
AW
  • #124
  • May 31, 2007 10:48pm May 31, 2007 10:48pm
Quoting MegaPips
As it is lower time frame (scalping), not easy to post live trading, but can post end of day or end of week results. Good Luck.
Hi Mega Pips, thanks for reply.

How to determine false signal ? for example if the price line "seems" hit the bottom or upper envelope or "seems" hit the middle line ? so couldn't we will not open the wrong position.
anyone would like to discuss this methode on yahoo mesenger ?
please add my id : okabija
  • #125
  • Jun 1, 2007 6:15am Jun 1, 2007 6:15am
I use two more filters to avoid false signals. I specially look for price to hit upper envelope to lower envelope (and to go outside the lower envelope) in short period (in one go) - this will indicate a trend change. Then look for signal line to enter. William%R set at 48. When entering, william%R should be pointing downwards under 50. Do some backtests yourself and decide if this method suits yourself. This filter brings very less entries, but so far I have never lost any money. .


Quoting okabija
Hi Mega Pips, thanks for reply.

How to determine false signal ? for example if the price line "seems" hit the bottom or upper envelope or "seems" hit the middle line ? so couldn't we will not open the wrong position.
anyone would like to discuss this methode on yahoo mesenger ?
please add my id : okabija
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 44 KB
  • #126
  • Jun 1, 2007 9:07am Jun 1, 2007 9:07am
folks i thank you all for your inputs, i am trying a few things with the system in terms of trying to reduce the whipsaws and as soon as i come up with anything, i will post. As a matter of fact the last week i have only been working on this.
Welcome to the Layer Cake son!
  • #127
  • Jun 1, 2007 10:38am Jun 1, 2007 10:38am
Quoting MegaPips
I use two more filters to avoid false signals. I specially look for price to hit upper envelope to lower envelope (and to go outside the lower envelope) in short period (in one go) - this will indicate a trend change. Then look for signal line to enter. William%R set at 48. When entering, william%R should be pointing downwards under 50. Do some backtests yourself and decide if this method suits yourself. This filter brings very less entries, but so far I have never lost any money. .
Thanks for sharing your system. sorry I don't understant about "in one go" what does it mean ?
and the willim%R pointing downward under 50 or -50? that mean the line bellow -50 for both sell and buy ?

regards,
okabija
  • #128
  • Edited 12:23pm Jun 1, 2007 11:39am | Edited 12:23pm
Hi,
1. In one go - price touch the upper envelope, then crosses the 34ema and touch the lower envelope rather quickly. This is for sell triger. Ofcourse opposite is applicable for buy triger.
2. william%R pointing downwards under -50 for sell.
william%R pointing upwards over -50 for buy.
Good luck.
Quoting okabija
Thanks for sharing your system. sorry I don't understant about "in one go" what does it mean ?
and the willim%R pointing downward under 50 or -50? that mean the line bellow -50 for both sell and buy ?

regards,
okabija
  • #129
  • Jun 1, 2007 12:27pm Jun 1, 2007 12:27pm
Quoting MegaPips
Hi,
1. In one go - price touch the upper envelope, then crosses the 34ema and touch the lower envelope rather quickly. This is for sell triger. Ofcourse opposite is applicable for buy triger.
2. william%R pointing downwards under -50 for sell.
william%R pointing upwards over -50 for buy.
Good luck.

Hi MegaPips,

I'm not clear yet.
1. so the price first touch the upper envelope then cross 34 to touch lower ?
so the price hit 2 envelope ? and when we sell ? I'm confuse..sell at the bottom ?
could you show in a chart ?

thanks,
regards
  • #130
  • Jun 1, 2007 1:49pm Jun 1, 2007 1:49pm
Hi, Please refer to the first post of this thread, as per rules,
For a sell: Price hit bottom envelope - Triger (ready to trade)
Price pulls back to 34ema and turns back - ENTRY - So entry is not at the bottom.

See the pic. in post 125. Will post more if possible. Regards.


Quoting okabija
Hi MegaPips,

I'm not clear yet.
1. so the price first touch the upper envelope then cross 34 to touch lower ?
so the price hit 2 envelope ? and when we sell ? I'm confuse..sell at the bottom ?
could you show in a chart ?

thanks,
regards
  • #131
  • Jun 2, 2007 1:56am Jun 2, 2007 1:56am
Quoting MegaPips
Hi, Please refer to the first post of this thread, as per rules,
For a sell: Price hit bottom envelope - Triger (ready to trade)
Price pulls back to 34ema and turns back - ENTRY - So entry is not at the bottom.

See the pic. in post 125. Will post more if possible. Regards.
Hi MegaPips,

Thanks for reply. I can see clear now
have you test with other pair ?
do you use trailing too ?

thanks

regards
  • #132
  • Jun 2, 2007 4:14pm Jun 2, 2007 4:14pm
Hi
first thanks for sharing. But you or anyone else on this thread knows how to set this up on oanda platform. Unfortunately I have to use a web based trading platform coz I cant install meta trader or any other software based platforms on my computer at my day job. I know its a silly question but I like this system and want to try on oanda platform live.

Thanks
Tasse

Quoting wahomeron
hi Acetrader, i have never posted any indicators just the rules. The indicators are freely available with any metatrader platform. Reread the rules and if there is something you dont understand please let me know.
  • #133
  • Jun 3, 2007 2:55pm Jun 3, 2007 2:55pm
Quoting tasse
Hi
first thanks for sharing. But you or anyone else on this thread knows how to set this up on oanda platform. Unfortunately I have to use a web based trading platform coz I cant install meta trader or any other software based platforms on my computer at my day job. I know its a silly question but I like this system and want to try on oanda platform live.

Thanks
Tasse
I personally have no experience with oanada, but I`m sure someone on this community should come up with an answer soon.
Welcome to the Layer Cake son!
  • #134
  • Edited Jun 4, 2007 1:29am Jun 3, 2007 4:13pm | Edited Jun 4, 2007 1:29am
folks I have been looking at this system for quite a bit, and everyday i enjoy working on it more and more and sometimes you have that aha moment and you are thinking, how come I have not seen this before, I mean the last 8+ months in my case.

So here it is, a little change in the way we enter trades, instead of entering when price retaraces back to the 34 EMA, we wait for the normal trend trigger at the outside channel, and if you look back, the market tends to pause or retrace for a while. Sometimes one bar sometimes five bars or more, I will call this the "hiccup". We will then put on a trade 5 pips beyond the last point the market reached with a stop at the new pivot the market just came from.For those that may not understand that I will put up some pics for illustration.


I have observed that we will avoid at least half of the losers in the last setup. Another observation I have made is that you will not miss out on those run away markets that take off without first retracing back to the 34 EMA. Let me know.
Attached Images
Welcome to the Layer Cake son!
  • #135
  • Jun 4, 2007 11:29am Jun 4, 2007 11:29am
Quoting wahomeron
folks I have been looking at this system for quite a bit, and everyday i enjoy working on it more and more and sometimes you have that aha moment and you are thinking, how come I have not seen this before, I mean the last 8+ months in my case.

So here it is, a little change in the way we enter trades, instead of entering when price retaraces back to the 34 EMA, we wait for the normal trend trigger at the outside channel, and if you look back, the market tends to pause or retrace for a while. Sometimes one bar sometimes five bars or more, I will call this the "hiccup". We will then put on a trade 5 pips beyond the last point the market reached with a stop at the new pivot the market just came from.For those that may not understand that I will put up some pics for illustration.


I have observed that we will avoid at least half of the losers in the last setup. Another observation I have made is that you will not miss out on those run away markets that take off without first retracing back to the 34 EMA. Let me know.
Hi Wahomeron,

I didn't understand about your new entry of your system. It's mean you have change the system?
but you said you made good trade with earlier system. All we need may be just a filter like megapips mentioned ?

Regards,
okabija
  • #136
  • Jun 20, 2007 12:28am Jun 20, 2007 12:28am
Hi,

Read you system rules, and yes if you use MACD to filter, it does work, kinda.

Basically, if MACD histogram is negative, then its "ok" to short it. If not, then ignore a retrace on a short signal.

The reason I know this: It's pretty similar to Raghee Horner's system which I use, although as time goes by, I am starting to wonder why.

She uses a true envelope of the 34 EMA - 3 seperate 34 EMAs based on high/low/close. Therefore, you have a "wave" which is really three bands.

When you make a new local low, the price will retrace to the wave, and if MACD is negative, its considered a short. (as an example) Also throw in some Fibs in there as well.

But to be honest, I have had very mixed results with her system. (You have to find a "pretty" chart, (she uses it on all time frames, and if you are quick can even use it on news retraces on the 1 min.) one thats holding the prices into the wave several times.)

But none the less, keep up the good fight. I am trying to figure out a system to replace hers.
  • #137
  • Jun 20, 2007 10:14am Jun 20, 2007 10:14am
Great system.....I believe that we should still look for a pull back before entry otherwise there are too many pips lost.

I think we all need to spend time looking at indicators that will filter out bad trades....there's got to be something out there, I'm going to spend some time tomorrow to see what I can come up with.

Remember...20pips per day can make us all very wealthy...so lets find that indicator.
  • #138
  • Jun 21, 2007 8:41am Jun 21, 2007 8:41am
Quoting clockwork71
Hi,

Read you system rules, and yes if you use MACD to filter, it does work, kinda.

Basically, if MACD histogram is negative, then its "ok" to short it. If not, then ignore a retrace on a short signal.

The reason I know this: It's pretty similar to Raghee Horner's system which I use, although as time goes by, I am starting to wonder why.

She uses a true envelope of the 34 EMA - 3 seperate 34 EMAs based on high/low/close. Therefore, you have a "wave" which is really three bands.

When you make a new local low, the price will retrace to the wave, and if MACD is negative, its considered a short. (as an example) Also throw in some Fibs in there as well.

But to be honest, I have had very mixed results with her system. (You have to find a "pretty" chart, (she uses it on all time frames, and if you are quick can even use it on news retraces on the 1 min.) one thats holding the prices into the wave several times.)

But none the less, keep up the good fight. I am trying to figure out a system to replace hers.

I appreciate your interest pal, I cant tell you how many indicators I have looked at and nothing seems to make any sense. But I will not give up the fight.
Welcome to the Layer Cake son!
  • #139
  • Edited 9:11am Jun 21, 2007 8:44am | Edited 9:11am
Quoting Cosmo II
Great system.....I believe that we should still look for a pull back before entry otherwise there are too many pips lost.

I think we all need to spend time looking at indicators that will filter out bad trades....there's got to be something out there, I'm going to spend some time tomorrow to see what I can come up with.

Remember...20pips per day can make us all very wealthy...so lets find that indicator.
Thanks for your support, If I do find anything i will post and let you know.
I have been trying to think of the system in all kinds of angles see if I may see something I am missing. Keep you posted..
Welcome to the Layer Cake son!
  • #140
  • Jun 26, 2007 10:00pm Jun 26, 2007 10:00pm
Nice system,

The Stoch set to 5,2,2 might be a good filter.....especially when the price hits the 34 ema and bounces off it...see chart

let me know what you think..good idea or bad idea.
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