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multiple systems per pair/multiple pairs per system? 3 replies

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(binned per thread starter’s request) A system to capture open

  • #181
  • May 21, 2025 2:19am May 21, 2025 2:19am
Nasdaq?

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  • #182
  • May 21, 2025 2:24am May 21, 2025 2:24am
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Less is more...
  • #183
  • May 21, 2025 3:01am May 21, 2025 3:01am
Quoting CogAlpha
Nasdaq? {image}
Hi, should the entry be after the close?
  • #184
  • May 21, 2025 3:05am May 21, 2025 3:05am
Quoting csierravh
{quote} Hi, should the entry be after the close?
Post1....

Rules for a BUY and SELL

1. Only place trades in the first 1.5Hrs of the market open
2. Price has traded outside the bands and closes off the high or low or closes as a thrust bar.
3. Enter on a close inside the bands.
4. Take profit at support and resistance levels.
That's it.
  • #185
  • May 21, 2025 3:25am May 21, 2025 3:25am
Quoting CogAlpha
Cant get more straight forward.
Backtest and you'll see how many fails this way. Question about the trend is not for re-quoting the 1st post but for editing it.
Just an opinion. Based on research
  • #186
  • May 21, 2025 3:34am May 21, 2025 3:34am
Quoting CogAlpha
{quote} Post 1 Rules for a BUY and SELL 1. Only place trades in the first 1.5Hrs of the market open 2. Price has traded outside the bands and closes off the high or low or closes as a thrust bar. 3. Enter on a close inside the bands. 4. Take profit at support and resistance levels. That's it. Cant get more straight forward.
Sorry Cog. Your english must be better than mine.

3. Enter on a close inside the bands.

Does it tell the direction of the entry? Is the meaning that the direction shall always be to the other side than traded "outside the bands"?

Sorry!
MetaTrader 4 - so many advantages.
  • #187
  • Edited 4:12am May 21, 2025 3:38am | Edited 4:12am
Quoting emmanuel7788
IF you missed the reversal setup entry and decide to take the breakout entry
Hello Emmanuel! Could you please illustrate or describe one more detail:
What do you mean and why do we look for a 10 min range (post#120)?
Just an opinion. Based on research
  • #188
  • May 21, 2025 3:49am May 21, 2025 3:49am
Quoting RiskFighter
{quote} Sorry Cog. Your english must be better than mine. 3. Enter on a close inside the bands. Does it tell the direction of the entry? Is the meaning that the direction shall always be to the other side than traded "outside the bands"? Sorry!
Thats my understanding.

Bar closes above the EMA channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Sell
Bar closes below the EMA Channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Buy

Trade filter:

Only Trade during the first 2hrs of the Opens. (or 1:30hrs as on Post 1)

Asia, London, NY.

__

No Trend preference or anything else.
Of course that can the individual decide.

Thats how I understood the Rules.
  • #189
  • May 21, 2025 4:11am May 21, 2025 4:11am
With all my respect for your researches and experience!
Quoting Islandfx911
I like getting in at the earliest sign of a reversal.
Why do you see a short-term price jump into the 5SMA channel as a reversal signal?
Just an opinion. Based on research
  • #190
  • May 21, 2025 4:15am May 21, 2025 4:15am
The RULES are simple and few.

What is a THRUST bar /candle ?

It is a price momentum candle...

Pick one ... any one will do ... never the market hour now,

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #191
  • May 21, 2025 4:22am May 21, 2025 4:22am
Quoting emmanuel7788
price momentum candle... any one will do
From your screen:
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Quoting emmanuel7788
any one will do
Here we see 2 momentum candles breaking the channel. What is the next step?
Just an opinion. Based on research
  • #192
  • May 21, 2025 4:30am May 21, 2025 4:30am
Quoting CogAlpha
{quote} Thats my understanding. Bar closes above the EMA channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Sell Bar closes below the EMA Channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Buy Trade filter: Only Trade during the first 2hrs of the Opens. (or 1:30hrs as on Post 1) Asia, London, NY. __ No Trend preference or anything else. Of course that can the individual decide. Thats how I understood the Rules.
Aaah - the childrens book. Now I understand.

Bar closes above the EMA channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Sell
Bar closes below the EMA Channel -> Bar closes inside the EMA channel as a "Thrust Bar" -> Buy

This is NOT what it says. This means that it is a pullback strategy. Exactly as the one I am trading myself. I just trade it after the break out - not inside the channel.

Thank you Cog.
MetaTrader 4 - so many advantages.
  • #193
  • May 21, 2025 4:51am May 21, 2025 4:51am
Quoting since80808
With all my respect for your researches and experience! {quote} Why do you see a short-term price jump into the 5SMA channel as a reversal signal?
The thing Island states (imho, but please correct me when i'm wrong)) means that he wants to participate in the mkt as soon he detects something that resembles a reversal. The sooner you participate, the quicker you know when you are wrong and the tighter your entry, which translates into something that Emmanuel seems to be quite good at, which is getting the xR trades.

Reversal,to me, implies a bar going one way and leaving a tail behind because it went the other way during the making of that particular bar (as per the solid examples of Emmanuel in #190 ;-) ). This i would label the thrust bar. Pushing hard in one direction and then not making it. The close comes back to the outside of the band.
If the next bar closes inside of the bands you know there is some follow through so this increases your odds of getting in on a solid reversal.
How far it will go, nobody knows but i know one thing for certain: If you do not participate you will not make a pip.

I will not go into a variations of the theme because that will just confuse people but between the charts of Island and Emmanuel there are more than enough examples of what this thread is about. Read and study (although it's fairly straightforward).

Just my 2c

Afterthought: I'm also stepping through TFs because price might be showing a beauty of a setup in TF A and a mess on TF B. So i take TF A and go with that.
  • #194
  • May 21, 2025 4:55am May 21, 2025 4:55am
Quoting forex-nl
not participate you will not make a pip
Did you backtest it?
I did. 2 of 3 price returnings into the channel are fake signals an causes SL.
Just an opinion. Based on research
  • #195
  • May 21, 2025 5:04am May 21, 2025 5:04am
I was out of action all day, back tomorrow to answer all questions.
Your trade order needs to be in the right place at the right time.
  • #196
  • May 21, 2025 5:06am May 21, 2025 5:06am
Quoting since80808
{quote} From your screen: {image} {quote} Here we see 2 momentum candles breaking the channel. What is the next step?

I would try these for entries.

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If you get 2 winners and 2 losers, you make money.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #197
  • May 21, 2025 5:12am May 21, 2025 5:12am
Quoting since80808
{quote} Did you backtest it? I did. 2 of 3 price returnings into the channel are fake signals an causes SL.
Interesting that you just pick that particular little piece of the text (without the context).

I'm in the process of doing the BT, as i am with the PriceBob as well (which is how i got to this Island thread) and am noticing a few things that work better for me.
SL is a different thing all together. Wide or narrow? Makes a huge difference. Extreme of the thrust bar, one of the band lines, top of the entry bar, x ATRs .. etc etc.
Very personal indeed so i can't comment on that.
  • #198
  • May 21, 2025 5:13am May 21, 2025 5:13am
Quoting emmanuel7788
2 winners and 2 losers
What's your initial R:R (sl to tp)?

Quoting emmanuel7788
2 winners and 2 losers
Just take every first solid candle closed closed outside the channel? Not a flip coin?
Just an opinion. Based on research
  • #199
  • May 21, 2025 5:19am May 21, 2025 5:19am
Quoting forex-nl
SL is a different thing all together.
What do you preffer?
No SL and a phrase like "TP not riched" )))
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or
Quoting emmanuel7788
initial stop loss on the opposite side of the channel
?

I chose the 2nd )))))
Just an opinion. Based on research
  • #200
  • Edited 9:33am May 21, 2025 9:08am | Edited 9:33am
Good afternoon - EURJPY trade - won - original risk 1:2,5 - closed out in a 1:1 - risk also reduced to 0,25 after resistance was broken - actively managing the trade along the way.

Didn't really plan to trade anymore today - but found this setup funny - so decided to do a quick trade and it turned out fine.
Price is ranging - and was coming off a double support and had retested the bands after closing above it - so decided to do a little scalp - once price shoot up after passing the resistance - I closed the trade fast before price retraced back to support. Looks like a liquidity grab, but price could also shoot up and continue - I don't know and I don't care - took my share from the marked and I'm done.

I'm done being greedy and I'm done missing out - that mentality was my most important step towards becoming profitable.

Accountwise up 4,1% after two days trading my version of the strategy - with a 66,67% winrate and a total of 12 trades entered.

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