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.SI4 for GBP/JPY & EUR/JPY

  • #21
  • Aug 31, 2007 3:14pm Aug 31, 2007 3:14pm
Couple more questions, if you would be so kind Muddbuddha.

I have it all set up (only on gbp/jpy 30-150-D chart) and at 10:30 AM est I get texted "sell 1 short at 234.2200 Now SHORT 1" So I place a short at 234.22 and just hang out

at 12:30 est I get text'd "Buy 1 at 233.76 Now FLAT" What does that mean? Is it referring to an old buy signal just telling me whats going on? or is that a new signal to buy now and get out of my short?

4:06 EST I get text'd "Buy 1 at 233.48 Now FLAT"

I am assuming that "Buy 1" is an old signal that was started before I got the platform up and I am getting texts on the status of it and that the signal to short 1 meant go Short. So I hypothetically would have 2 open orders one short and one long? And I would hold them both until 7pm EST before closing them regardless of profit/loss?

I am sorry if these are remedial questions but I am trying to understand this system and I am sure some of these other fine folks might be wondering the same thing.
  • #22
  • Edited 4:23pm Aug 31, 2007 4:11pm | Edited 4:23pm
Also, MuddBuddha, if you could take a look at the screen shot and verify the time matches yours I think this would help a great many people as to how to match your results. Also, what data feed are you using? I think this may effect results too. Thanks!!
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  • #23
  • Aug 31, 2007 4:27pm Aug 31, 2007 4:27pm
And is this how the system screen should look?
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  • #24
  • Aug 31, 2007 5:19pm Aug 31, 2007 5:19pm
Quoting lepiricus
And is this how the system screen should look?
Actually, that Trailing Volatility setting is wrong. It should be 0.005.

Is that straight from the imported system?
Capital Preservation is key to long term wealth accumulation
  • #25
  • Aug 31, 2007 5:21pm Aug 31, 2007 5:21pm
Quoting lepiricus
Also, MuddBuddha, if you could take a look at the screen shot and verify the time matches yours I think this would help a great many people as to how to match your results. Also, what data feed are you using? I think this may effect results too. Thanks!!
Times are right on the money...unless you live outside the EST timezone. The datafeed is straight from FXCM for FT SRV by default.
Capital Preservation is key to long term wealth accumulation
  • #26
  • Aug 31, 2007 5:29pm Aug 31, 2007 5:29pm
I have it all set up (only on gbp/jpy 30-150-D chart) and at 10:30 AM est I get texted "sell 1 short at 234.2200 Now SHORT 1" So I place a short at 234.22 and just hang out

Correct. Open a SHORT with 1 LOT

at 12:30 est I get text'd "Buy 1 at 233.76 Now FLAT" What does that mean? Is it referring to an old buy signal just telling me whats going on? or is that a new signal to buy now and get out of my short?

FLAT means that for whatever reason the system has declared the trade invalid. If it's prior to EOD, then the primary reason would be a retrace and close back above the trailing volatility line....or a progressive climb in the other direction. One of those two reasons. At this point, you would close your position.

4:06 EST I get text'd "Buy 1 at 233.48 Now FLAT"

I am assuming that "Buy 1" is an old signal that was started before I got the platform up and I am getting texts on the status of it and that the signal to short 1 meant go Short. So I hypothetically would have 2 open orders one short and one long? And I would hold them both until 7pm EST before closing them regardless of profit/loss?

No. It called that one as the EOD, "you better be out by now" call. BUY 1 at 233.48 Not FLAT means that the trade is longer valid so buy one lot to close out the SHORT position. Sometimes it may seem like a repeat. It's just a little quirk it has. You would only get a old signal if the opening was VERY close to when you fired up the platform.

Fibonacci Trader was originally built for stocks and options and was ported over to forex. So it doesn't have the ability to hedge a position of the same symbol.
Capital Preservation is key to long term wealth accumulation
  • #27
  • Aug 31, 2007 5:33pm Aug 31, 2007 5:33pm
For those just starting to set up charts, if you open the charts screen and select new chart, the pair symbol, and then place 30 in the first time box and hit TAB, FT will auto in the rest of the boxes.

There is a chance that FT automatically adjusts for timezone difference....not quite sure since I've only used it in EST - USA.
Capital Preservation is key to long term wealth accumulation
  • #28
  • Aug 31, 2007 5:47pm Aug 31, 2007 5:47pm
Quoting MuddBuddha
Actually, that Trailing Volatility setting is wrong. It should be 0.005.

Is that straight from the imported system?
Yes, I did not change anything, but I will fix the settng. And, thank you very much for answering my questions
  • #29
  • Aug 31, 2007 5:47pm Aug 31, 2007 5:47pm
I would normally never discuss pip gains as I typically couldn't care less about how many I close out, but to serve as an example to how effective this extremely easy system is (unless it wakes you up at 2:30 AM ), I went ahead and did the math and found I closed out 558 pips this week. That was after a 86 point stop out earlier this week.

Now, to stiffle any comments as to, "What about non volatile weeks?", well you still have a better than 50% chance of a weekly gain, so this is how I approach that. I check the FF calendar a few times a week. I really don't care whether the news comes in bad or good and rarely even watch the charts around news time. What I am looking for is the chance of a volatile week. A highly voaltile whipsaw week just feeds this beast with lots and lots of $$. A not so volatile week still feeds th beast but to a lesser degree....so....up your lots. This way you compensate for the lack of volatility. On volatile weeks, lower your lots to the normal level.

If I close 200 a week, I'm fine. I'm not in a race or competition with anyone. My goal is financial freedom...not bragging rights. 558 was a decent week for trading one pair on the 30 minute chart and never actually seeing the chart.
Capital Preservation is key to long term wealth accumulation
  • #30
  • Aug 31, 2007 5:48pm Aug 31, 2007 5:48pm
Quoting lepiricus
Yes, I did not change anything, but I will fix the settng. And, thank you very much for answering my questions
Others may want to check as well...it shouldn't have been .004. I apologize for that. Not sure if it was something I did or ???
Capital Preservation is key to long term wealth accumulation
  • #31
  • Edited 7:56pm Aug 31, 2007 6:09pm | Edited 7:56pm
Quoting MuddBuddha
I have it all set up (only on gbp/jpy 30-150-D chart) and at 10:30 AM est I get texted "sell 1 short at 234.2200 Now SHORT 1" So I place a short at 234.22 and just hang out

Correct. Open a SHORT with 1 LOT

at 12:30 est I get text'd "Buy 1 at 233.76 Now FLAT" What does that mean? Is it referring to an old buy signal just telling me whats going on? or is that a new signal to buy now and get out of my short?

FLAT means that for whatever reason the system has declared the trade invalid. If it's prior to EOD, then the primary reason would be a retrace and close back above the trailing volatility line....or a progressive climb in the other direction. One of those two reasons. At this point, you would close your position.

4:06 EST I get text'd "Buy 1 at 233.48 Now FLAT"

I am assuming that "Buy 1" is an old signal that was started before I got the platform up and I am getting texts on the status of it and that the signal to short 1 meant go Short. So I hypothetically would have 2 open orders one short and one long? And I would hold them both until 7pm EST before closing them regardless of profit/loss?

No. It called that one as the EOD, "you better be out by now" call. BUY 1 at 233.48 Not FLAT means that the trade is longer valid so buy one lot to close out the SHORT position. Sometimes it may seem like a repeat. It's just a little quirk it has. You would only get a old signal if the opening was VERY close to when you fired up the platform.

Fibonacci Trader was originally built for stocks and options and was ported over to forex. So it doesn't have the ability to hedge a position of the same symbol.
Okay, if I got this right..like you said earlier just enter when it tells you and we exit one of 3 ways?
1.) get a "FLAT" signal then exit
2.) get an opposite signal then exit current position and open new position in opposite direction
3.) exit at 7PM EST if #1 and #2 didn't happen regardless of P&L.

Maybe I misunderstand your post and #2 shouldn't ever happe. Please let me know if those rules are wrong, I'm just trying to get the semantics right. I don't mean to come across as a knucklehead.
  • #32
  • Aug 31, 2007 7:47pm Aug 31, 2007 7:47pm
Quoting lepiricus
Okay, if I got this right..like you said earlier just do what it tells you, and when it says "FLAT" exit out, or exit at 7pm EST if no "FLAT" call is given? and you shouldn't have a short and long open at the same time for any reason? I want to make sure I have this right when I demo next week
Right....except for the 7pm part. I stay in UNTIL it tells me to exit. It will FLAT at EOD unless there is a reason to prior.

If you get a SHORT 1, and an hour or so later you recieve, NOW LONG 2, it's basically performing a STOP AND REVERSE where you buy 2 lots in the opposing direction to close out the ones short and enter one long. It will never have to positions at one time. But don't jump the gun on the EOD exit; let the system go. You never know what might happen. I jumped the gun about two weeks ago thinking I had milked it clean and in the last 30 minutes it drop another 150+. The system knows what it's doing.
Capital Preservation is key to long term wealth accumulation
  • #33
  • Aug 31, 2007 9:14pm Aug 31, 2007 9:14pm
Quoting MuddBuddha
Right....except for the 7pm part. I stay in UNTIL it tells me to exit. It will FLAT at EOD unless there is a reason to prior.

If you get a SHORT 1, and an hour or so later you recieve, NOW LONG 2, it's basically performing a STOP AND REVERSE where you buy 2 lots in the opposing direction to close out the ones short and enter one long. It will never have to positions at one time. But don't jump the gun on the EOD exit; let the system go. You never know what might happen. I jumped the gun about two weeks ago thinking I had milked it clean and in the last 30 minutes it drop another 150+. The system knows what it's doing.
Crystal clear now, thanks.

I will post entries and exit of the 1st few trades it gives out next week so we all can compare any differences etc. Thanks again
  • #34
  • Sep 1, 2007 2:18pm Sep 1, 2007 2:18pm
Quoting MuddBuddha
By the way, it's good to be back. Missed chatting with you all.
MB! Man, it's great to see you back. With so long without posts and your website gone, I thought you had croaked! Glad to see you alive and well and especially glad to have you back. You be a unique dude and I for one missed you greatly.

Welcome back!!

Dial
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  • #35
  • Sep 1, 2007 2:30pm Sep 1, 2007 2:30pm
I'm just curious to see this method since I trade mostly on gbpjpy without download another trading platform. MuddBuddha is it possible to know rules about your system ?

Thank you

Skyline
  • #36
  • Sep 1, 2007 2:50pm Sep 1, 2007 2:50pm
Quoting skyline
I'm just curious to see this method since I trade mostly on gbpjpy without download another trading platform. MuddBuddha is it possible to know rules about your system ?

Thank you

Skyline
Hi Skyline

Maybe you could convert the file so that everybody can use it on MT4
Regards
  • #37
  • Edited 3:35pm Sep 1, 2007 3:11pm | Edited 3:35pm
FILES POSTED HERE!!

Quoting howard
Hi Skyline

Maybe you could convert the file so that everybody can use it on MT4
I apologize, but I know nothing about MT4 scripting at all, so I can't be much help there...possibly skyline. I've been slow to get the second batch of emails out as I've been working late this week on an emergency project for the State, so posting the files here probably would be the best method.

I'm suprised by the overwhemling response to the first post. Didn't quite expect this many requests. If you're expecting a highly complex system of technical formulation....this aint it. This is a trailing volatility system that thrives on the GBP/JPY; and the GBP/JPY has a long history of high volatility. If you think it's hard to trade now, you should have seen it back around 1998 when it plummented over 3000 pips like a hot iron through butter. It seems to climb, climb, climb...reach a breaking point and then fall into a lower orbit only to start its ascent again. I'm not really that interested as to why, just that it does. I don't have to know how the mountain was formed to admire its' majesty. That is the GBP/JPY in a nutshell.
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Capital Preservation is key to long term wealth accumulation
  • #38
  • Sep 1, 2007 3:33pm Sep 1, 2007 3:33pm
Quoting MuddBuddha
I apologize, but I know nothing about MT4 scripting at all, so I can't be much help there...possibly skyline.
Yes there's no problem MuddBuddha, I can code it in mt4 and this could be a good pleasure for a lot of users that use it here. But I have to know the rules, otherwise I cannot , could you summarize them here ? Do you use some particular indicator ?

Skyline
  • #39
  • Sep 1, 2007 3:56pm Sep 1, 2007 3:56pm
Quoting skyline
Yes there's no problem MuddBuddha, I can code it in mt4 and this could be a good pleasure for a lot of users that use it here. But I have to know the rules, otherwise I cannot , could you summarize them here ? Do you use some particular indicator ?

Skyline
Well that will take me a bit of digging. It's similar to the trailing stop, chandler stop, and volatility stop indicators you can find on Tradestation and MT....but not quite the same. Also, FT SRV is fairly unique in it's three time frame approach to charting. Not saying it can't be done, cause I really don't know. Just not sure how easy it would be personally.

I'm not going to beat around the bush about it's value. Typically one decent trade will pay for FT SRV for a month or two. A GOOD trade will pay for FT SRV for a year! A couple of good trades and you have yourself a charting package as well as a Blackberry! I have no issues with spending money to make money. Which is why I have stuck with FT and this particular system. I also have a T-Mobile line specifically dedicated to the Blackberry which I use only for trading. I believe in it THAT MUCH. Not saying it's easy....I hate getting woken up at 3AM from a deep sleep to open and close a trade; but at the same time it gives me a sense of excitement knowing that I may wake up to find the GBP/JPY has taken off on another 200-500 pip run. I'm not selling FT, just that I believe in its value as far as trading. I've read all the threads about the GBP/JPY which seem to be growing all the time. It's an exciting and frustrating pair to trade soley on personal discretion and analysis. I've had such good success with it on this system that I thought I would share this little secret system. I know how frustrating it can be to trade, trade, trade, and never seem to get anywhere.

Also, I didn't invent this system. It's not even really a system at all. It's just an indicator that I kept playing with over and over trying different ideas until I was able to get it around 55% successful. Out of the last 51 trades, its won 30 and lost 21. Giving it a current rating of 58.82%. It's won up to 4 times in a row and lost twice in a row. It averages about 130-150 pips per win with the recent top at 430 pips and the largest loss at 138. You typically get 2-4 signals per week, maybe less if the movement is strong. You won't catch all the points possible, but with those previous posted results.....who cares?! It works well with the GBP/JPY and decently with EUR/JPY. It's terrible on the EUR/USD and better than terrible on the GBP/USD. So I stick to the top dog and live off that. No point giving hard earned $$ back to a pair that doesn't deliver as much as the GBP/JPY>
Capital Preservation is key to long term wealth accumulation
  • #40
  • Sep 1, 2007 4:25pm Sep 1, 2007 4:25pm
Mudd,
Your chart is awsome! The volatility stop is too accurate. Here is an image of the NRTR for MT4. It's not as accurate as what you show but perhaps it will assist in creating the MT4 version.
Do any of your indicators repaint? The accuracy of your chart is going to make me lose sleep.
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It really is that easy.
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