Trend Smasher - Profitable Mechanical Long Term Position Trading | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Tiger trend trading -long term position trading 346 replies

Mechanical trend trading 265 replies

Is Grid Trading (combined trend following and counter trend) Profitable? 3 replies

Long position or short position 6 replies

Profitable trading systems, which are 100% mechanical? 2 replies

Attachments: Trend Smasher - Profitable Mechanical Long Term Position Trading
Exit Attachments

Trend Smasher - Profitable Mechanical Long Term Position Trading

  • #21
  • Oct 19, 2007 4:05pm Oct 19, 2007 4:05pm
It looks like we will be up for entries a lot sooner than expected. Both GBPJPY & GBPCHF have entered the entry-zone. Now we just wait for an uptick which should occur in at least one of them next week.

The others should follow suit shortly after...

Take care & happy trading!
  • #22
  • Oct 20, 2007 12:00am Oct 20, 2007 12:00am
And here is my chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 22 KB


Getting ready
  • #23
  • Oct 20, 2007 6:07pm Oct 20, 2007 6:07pm
Daemien,

not sure the proper wording, but: what start time for each bar to you have set GMT? GMT+1??

thanks!
  • #24
  • Oct 20, 2007 6:09pm Oct 20, 2007 6:09pm
ewww, ewww,

also can you tell me how to change the time in MetaTrader?? I am currently using Alpari and the start time for D1 is different than your charts..

THANKS!
  • #25
  • Oct 20, 2007 6:37pm Oct 20, 2007 6:37pm
Daemien

Do you have recommended settings for other pairs, eg., EURJPY, GBPUSD, etc.? Since MFI is a measure of strength of money flowing in/out, is this value in anyway dependent upon my broker?
  • #26
  • Oct 21, 2007 1:14am Oct 21, 2007 1:14am
Quoting arhemsi
And here is my chart:

Attachment

Getting ready
hmmmmm....

why is my chart different??? I am using Alpari UK Demo Account for MT Charts
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.JPG Size: 159 KB
  • #27
  • Oct 21, 2007 9:55am Oct 21, 2007 9:55am
My charts are based off of EST (eastern / New York time). If yours are different, you will still get entries & exits, they will just differ timing-wise. I would suggest you take a good luck at the history..

Also, in regards to your chart looking different (last post) - There is no central volume for Forex. MFI indicator is based off of volume and will use the volume of your actual broker (in your case Alpari). This will more than likely differ from mine (Interbank FX) but should still be usable. Again, this will mean your entries / exits may differ.

Hope this helps!

D.


Quoting ilcapocamorr
ewww, ewww,

also can you tell me how to change the time in MetaTrader?? I am currently using Alpari and the start time for D1 is different than your charts..

THANKS!
  • #28
  • Oct 21, 2007 9:58am Oct 21, 2007 9:58am
Hi ET,

The only pairs I have looked at are the ones in the template - you will have to do a backtest to find valid settings for entries & take profit levels on other pairs.

And yes, the MFI will vary depending upon your broker. If you are using a relatively large broker, however, it should still reflect the overall market sentiment. Take a visual on past entries & exits - you may have to make minor adjustments in the levels. When adjusting I look for at least one entry every two months - same for exits!

Take care,

D.

Quoting et_phonehome_2
Daemien

Do you have recommended settings for other pairs, eg., EURJPY, GBPUSD, etc.? Since MFI is a measure of strength of money flowing in/out, is this value in anyway dependent upon my broker?
  • #29
  • Oct 21, 2007 9:59am Oct 21, 2007 9:59am
I would also like to add - I am not sure if the volume would be indicative of their demo or their live servers. If demo then I can't see it being very accurate. Should still be good enough to get the hang of the system tho...

D.

Quoting ilcapocamorr
hmmmmm....

why is my chart different??? I am using Alpari UK Demo Account for MT Charts
  • #30
  • Oct 21, 2007 5:35pm Oct 21, 2007 5:35pm
Ok - I would like to apologize for the previous messy templates that were included in the archive. In my defense, they were nice & clean at one point, but I redid my computer a couple of weeks ago. In doing so I copied an older archive back into my Forex folder. Yes, I know - excuses, excuses....

The templates should be nice & clean now (post #1)!!! The only thing you need on your chart is the MFI. My main trendlines will also show up - if you are using a broker other than InterbankFX, however, they will not be accurate. Go out to the monthly / weekly charts & get them drawn correctly!!

Take care all. We are in for some entries this week for sure and I will be posting them here along with the corresponding charts. This should help to alleviate any confusion as to the way this system works...

D.
  • #31
  • Oct 21, 2007 5:57pm Oct 21, 2007 5:57pm
GBPCHF is showing an uptick (interbankFX) on today's candle. As this is a sunday candle (usually very flat and not overly reflective of the market) I will not be entering a position. If tomorrow shows a continuation uptick I will enter at close of candle this time tomorrow. Will post the chart then...

D.
  • #32
  • Oct 22, 2007 2:41pm Oct 22, 2007 2:41pm
Damien, thanks for this system. a newbie's question. how would you monitor end of the trend?

Quoting Daemien
GBPCHF is showing an uptick (interbankFX) on today's candle. As this is a sunday candle (usually very flat and not overly reflective of the market) I will not be entering a position. If tomorrow shows a continuation uptick I will enter at close of candle this time tomorrow. Will post the chart then...

D.
  • #33
  • Oct 22, 2007 5:19pm Oct 22, 2007 5:19pm
Hey Coolshades,

Love the pic!

You release all of your positions once the MFI has entered the sell zone (upper line on all pairs except EURAUD) and downticked. It isn't always at the exact top, but usually of quite significant gain ...

I hope this helps!

D.


Quoting coolshades
Damien, thanks for this system. a newbie's question. how would you monitor end of the trend?
  • #34
  • Oct 22, 2007 5:51pm Oct 22, 2007 5:51pm
GBPCHF is now active (first entry & ready for add-ons).

Stop-loss 274pips (2xATR(20))
Attached Image (click to enlarge)
Click to Enlarge Name: trendsmasher - gbpchf entry example.gif Size: 32 KB
  • #35
  • Oct 22, 2007 6:06pm Oct 22, 2007 6:06pm
I got in Mid day for the uptrend. Broke the rules a bit but continuation of the up trend was obvious. So I am in. Looking for add on's now.
  • #36
  • Oct 22, 2007 6:27pm Oct 22, 2007 6:27pm
My entry: buy gbp/chf at 2.3938 and stoploss at 2.3653.

chf/jpy has also entered the buy zone.
  • #37
  • Oct 23, 2007 7:19am Oct 23, 2007 7:19am
Hi Damien,

thanks for this. my point was more from the long term trend. currently gbpchf for example is on long term up trend.. at what point would we realise its on a long term down trend(since the trend reversal can be gradual) ..

Quoting Daemien
Hey Coolshades,

Love the pic!

You release all of your positions once the MFI has entered the sell zone (upper line on all pairs except EURAUD) and downticked. It isn't always at the exact top, but usually of quite significant gain ...

I hope this helps!

D.
  • #38
  • Oct 23, 2007 10:45am Oct 23, 2007 10:45am
Oops.. sorry I read that as "how do you monitor the end of the trade" ..

Attention to detail!! lol

The one thing I have noticed is that as the long-term trend starts to subside, you will get fewer entries as well as fewer fully fulfilled exits (after about two months I will release positions on any downtick between the no entry line & the exit area). Basically the MFI starts to consolidate and does not cover the same amount of range... At this point I will still put trades on, but would cut my position sizing back accordingly.

The biggest & final alarm is when the overall trend-line (drawn on monthly charts) is significantly broken. At this point I would stay out of that pair until a new trend re-emerges (or the old one resurfaces)... probably look for a replacement pair as well in the meantime

Most of these trends are significant in that they have all been on the go for at least two years - some are over six years in the making. They will end eventually, of course. My goal is to be prepared!

I hope this helps!

Take care,

D.


Quoting coolshades
Hi Damien,

thanks for this. my point was more from the long term trend. currently gbpchf for example is on long term up trend.. at what point would we realise its on a long term down trend(since the trend reversal can be gradual) ..
  • #39
  • Oct 23, 2007 2:48pm Oct 23, 2007 2:48pm
AUDUSD + CHFJPY
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd entry 10-23-07.gif Size: 33 KB
Click to Enlarge Name: chfjpy entry 10-23-07.gif Size: 33 KB
  • #40
  • Oct 23, 2007 4:21pm Oct 23, 2007 4:21pm
Hey, thanks a bunch Freed!! Now I don't have to post those .

Yes those are definitely entries at end of candle along with GBPJPY. I prefer them spread out a bit, but sometimes they do cluster like this - just goes to show how correlated this market can be!!

One word on AUDUSD - you'll notice that we are at the top of the long-term channel (or pretty damn close). I would recommend any entries be at about half of your usual position sizing. Therefore, if 1% of your equity = a position of .10, enter with .05 lots. Just a recommendation...

D.

Quoting freed14
AUDUSD + CHFJPY
0 traders viewing now