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Trend Follower 5 Minute System

  • #941
  • Oct 1, 2007 9:05am Oct 1, 2007 9:05am
This system gives accurate entry points. I always place SL under/above most recent support/resistance level. I don't use the ea in order to open and close trades automatically. Better do it on manual.

Someone asked me today where to close trades, here's my anwser to him:

Taking profits is much more difficult. Where do you take it? At S1,S2 orS3 if going short and reverse for long positions..

I suggest to learn some candlestick patterns that can notify you about a potential reversal so you can take profits much more early. I 'm always watching those patterns.
I don't know you will find them here at FF (I didn't saw them yet) but here's a link where I found such patterns for expalnation :

http://www.aboutcurrency.com/content/view/204/109/
Maybe it is worth taking a look at them and try to learn them. I'm sure it will help you in taking profit with more coinfidence that you are doing the right thing.

Good luck,
wiper
  • #942
  • Oct 1, 2007 9:11am Oct 1, 2007 9:11am
Quoting wiper
This system gives accurate entry points. I always place SL under/above most recent support/resistance level. I don't use the ea in order to open and close trades automatically. Better do it on manual.

Someone asked me today where to close trades, here's my anwser to him:

Taking profits is much more difficult. Where do you take it? At S1,S2 orS3 if going short and reverse for long positions..

I suggest to learn some candlestick patterns that can notify you about a potential reversal so you can take profits much more early. I 'm always watching those patterns.
I don't know you will find them here at FF (I didn't saw them yet) but here's a link where I found such patterns for expalnation :

http://www.aboutcurrency.com/content/view/204/109/
Maybe it is worth taking a look at them and try to learn them. I'm sure it will help you in taking profit with more coinfidence that you are doing the right thing.

Good luck,
wiper
Thanks WIPER! You have been a big help - heres to your continued success!

SirWolf
Believe and Achieve!
  • #943
  • Oct 1, 2007 9:15am Oct 1, 2007 9:15am
Quoting sirwolf
Thanks WIPER! You have been a big help - heres to your continued success!

SirWolf
Thanks SirWolf.
  • #944
  • Oct 1, 2007 9:16am Oct 1, 2007 9:16am
Quoting sirwolf
Hi Folks!

I just returned from a week long vacation. I see some are testing an EA now. Has anyone had any luck with it? What about those trading manually? I am using the EA for signals and check manually. Anyone else using the signals? The EA does identify signals correctly and makes for less screen watching.

I know Wiper is doing well with this system manually on a LIVE account. I beleive he uses the signal EA and confirms and trades manually - any others trading this?

I really like this system.
I've been watching this thread from the beginning and recently started to forward test it manually. Every day when the trading session ends I check my charts and if there was a valid signal then I will write it down. I do intend to forward test this system for at least 4-5 months before going to live with it. But I'm quite sure that the system won't let us down. Just want to be really sure. It's also useful to forward test to gain experience and get used to trend follower.

So far my 2 weeks results have been very good and I am beginning to really understand when to take the signal and when it's best to stay away. I only take trades when the slope confirms and also watch guppy's MA's - how contract they are etc.

In my opinion this system is somewhat discretionary and that's what I like about it. I guess you can fallow it blindly but I would never use an EA to open and manage my trades for me. Although I am very grateful to people who developed the EA because I'm using it for signals and it also takes less screen time thanks to the EA.
  • #945
  • Oct 1, 2007 9:19am Oct 1, 2007 9:19am
Quoting MKK
I've been watching this thread from the beginning and recently started to forward test it manually. Every day when the trading session ends I check my charts and if there was a valid signal then I will write it down. I do intend to forward test this system for at least 4-5 months before going to live with it. But I'm quite sure that the system won't let us down. Just want to be really sure. It's also useful to forward test to gain experience and get used to trend follower.

So far my 2 weeks results have been very good and I am beginning to really understand when to take the signal and when it's best to stay away. I only take trades when the slope confirms and also watch guppy's MA's - how contract they are etc.

In my opinion this system is somewhat discretionary and that's what I like about it. I guess you can fallow it blindly but I would never use an EA to open and manage my trades for me. Although I am very grateful to people who developed the EA because I'm using it for signals and it also takes less screen time thanks to the EA.
Thanks for the feedback MKK. Seems like using the EA for signals and confirm manually is the way to go.

Lets continue to keep each other posted on this great system. Take care...

SirWOlf
Believe and Achieve!
  • #946
  • Oct 1, 2007 2:09pm Oct 1, 2007 2:09pm
Hi guys,

Here are the results (I'll post the journal separately) of some backtesting I did with a randomly picked currency pair and trading period to see how well EA (version 3e) performs.

If anyone did similar backtesting, were your reports/journal entries comparable to what I got? Am I using the correct settings? I would like to do backtesting for all major currency pairs and timeframes for longer (1-2 years) trading period, but I have to make sure that I am doing it right not to waste time.

Any ideas/suggestions/feedback based on your experience? Many thanks!
Attached File(s)
File Type: pdf Sample report based on SignalTrendFollower 3e EA.pdf   55 KB | 1,724 downloads
One Chart is Worth Ten Thousand Words.
  • #947
  • Oct 1, 2007 2:14pm Oct 1, 2007 2:14pm
Pls see my previous post.
Attached File(s)
File Type: pdf Sample Journal based on SignalTrendFollower 3e EA.pdf   13 KB | 1,570 downloads
One Chart is Worth Ten Thousand Words.
  • #948
  • Oct 2, 2007 1:25am Oct 2, 2007 1:25am
time : asia session 8:40 (FXDD TIME , GMT +3)
PAIRS: G/J E/J
very quickly G/J GOT TP (at R1) , take 40 pips

E/J close half lots at taking profit 20 pips , other still open by locking 5 pips profit .
  • #949
  • Oct 2, 2007 3:24am Oct 2, 2007 3:24am
another two trade got stoploss

time : 10:45 (FXDD TIME GMT +3)
PAIRS : U/J G/J
lost : -15 -42 pips
maybe on eur session just open is not suitable to open trade . maybe other reason


i think G/J should not trade ,because price is too near support line
Attached Image
  • #950
  • Oct 2, 2007 10:25am Oct 2, 2007 10:25am
Hi folks!

Did anyone take the following trades this morning?

USDCAD Triggered at around 8:50AM EST.
USDCHF Trgiggered at around 6:15AM EST
Believe and Achieve!
  • #951
  • Oct 2, 2007 6:20pm Oct 2, 2007 6:20pm
Quoting sirwolf
Hi folks!

Did anyone take the following trades this morning?

USDCAD Triggered at around 8:50AM EST.
USDCHF Trgiggered at around 6:15AM EST
I didn't take the USD/CAD trade because I don't trade that pair but I took 3 trades yesterday. GBP/USD at 2.0374 and took a loss on that one by -33 pips.
This actually wasn't a perfect trade at all but since the conditions were met I took it.
I also took EUR/USD trade and USD/CHF trade. E/U for 14 pips and U/C for 43 pips (closed at R3)
All in all it was a profitable day after all

Regards,
Marek
  • #952
  • Oct 2, 2007 10:54pm Oct 2, 2007 10:54pm
What do you think of this setup for a long?
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  • #953
  • Oct 3, 2007 1:08am Oct 3, 2007 1:08am
PAIRS : G/J
TIME : FXDD TIME 7:50 ASIA SESSION
CONDITION: 2TH BAR MET (BUT I DON'T LIKE IT)
at last get stoploss



BTW: I don't like this signal , I like the same time as arrow all conditions are met .
Attached Image
  • #954
  • Oct 3, 2007 1:09am Oct 3, 2007 1:09am
Quoting MKK
I didn't take the USD/CAD trade because I don't trade that pair but I took 3 trades yesterday. GBP/USD at 2.0374 and took a loss on that one by -33 pips.
This actually wasn't a perfect trade at all but since the conditions were met I took it.
I also took EUR/USD trade and USD/CHF trade. E/U for 14 pips and U/C for 43 pips (closed at R3)
All in all it was a profitable day after all

Regards,
Marek
i took E/U U/C TOO , AND I TOOK G/U (BUT I DON'T LIKE THIS SIGNAL , I don't think it is perfect signal ,and signals of E/U U/C are perfect)
  • #955
  • Oct 3, 2007 1:17am Oct 3, 2007 1:17am
Quoting lifegauge
What do you think of this setup for a long?
sorry , I can't see lag indicator , so don't know it
  • #956
  • Edited 4:38am Oct 3, 2007 1:52am | Edited 4:38am
but i missed it . that is a perfect setup , I like it
Attached Image
  • #957
  • Oct 3, 2007 4:05am Oct 3, 2007 4:05am
Quoting muyuan11
PAIRS : G/J
TIME : FXDD TIME 7:50 ASIA SESSION
CONDITION: 2TH BAR MET (BUT I DON'T LIKE IT)
at last get stoploss



BTW: I don't like this signal , I like the same time as arrow all conditions are met .
Hello muyan

You took this short position even when green was above red - is this following the system? Thanks for the clarification....

LG
  • #958
  • Oct 3, 2007 4:35am Oct 3, 2007 4:35am
Quoting lifegauge
Hello muyan

You took this short position even when green was above red - is this following the system? Thanks for the clarification....

LG
green MUST BE above red , I AM ENTER LONG POSITION ON G/J , the red vertical line is my entry point
but I said i don't like this siganl (not strong one , not perfect setup). I am trying to get a perfect setup ,so I try to trade as many times as i can by the origin rule
  • #959
  • Edited 8:05am Oct 3, 2007 7:31am | Edited 8:05am
pairs : G/J
TIME : 10 MIN AGO

HOPE THIS IS A GOOD TRADE

UPDATE: LOCK 10 PIPS PROFIT
Attached Image (click to enlarge)
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  • #960
  • Oct 3, 2007 7:50am Oct 3, 2007 7:50am
Hello Fellow Traders,

The worst enemy of traders and most trading systems is a sideway market. Most systems try to catch the big wave and hop onto it, but this requires also many bad trades before catching that big wave. This system as the uncanny hability to prevent many of these bad trades as it does not trade the big breakout but it's retracement. However, the non farm payroll week is usually sideway but for one or rarely 2 trending days before Friday. Thus, being carefull during this week is of the outmost. The NFP week is the big loosing week for many traders but it seems to take a few years of trading to remember it, as the rest of the month is usually quite influenced by this data and more regular as we have seen during the last month.
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