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Hourly Trend Rider...

  • #21
  • Nov 6, 2007 12:54am Nov 6, 2007 12:54am
Using daily timeframe can filter many false signal.... in lower timeframe.. nice strategy...
  • #22
  • Nov 6, 2007 1:08am Nov 6, 2007 1:08am
I demo'd this. I bought at the 60 minute cross up around 9 pm eastern time. I added 5 pips to the high of the bar where the ema's crossed and set my entry there. I placed a profit target at 50% of the ATR from the 4 hour chart which was 25 pips. It hit while I was sleeping. First attempt looks promising.
  • #23
  • Nov 6, 2007 1:21am Nov 6, 2007 1:21am
When we put these indicators on our MT4, do we have to make any changes to the settings. Also, how do you apply the template in MT4??? HELP! LOST IN THE FOREX WORLD!
  • #24
  • Nov 6, 2007 2:25am Nov 6, 2007 2:25am
Quoting Colostarr
When we put these indicators on our MT4, do we have to make any changes to the settings. Also, how do you apply the template in MT4??? HELP! LOST IN THE FOREX WORLD!
Yes if your just putting them in from MT4 then you will have to change the default settings. Just right click on the indicator to change the properties.

For the template that Banzai set up, the only way I know how to get that to work is drag the folders to your desktop, put them all in a folder. then right click on the grid in MT4 there should be a section that says "template" then "load" then you have to change that pop up box to desktop to find where you save it at.

Hope this helps bro...
  • #25
  • Nov 6, 2007 2:35am Nov 6, 2007 2:35am
Quoting volcano
I demo'd this. I bought at the 60 minute cross up around 9 pm eastern time. I added 5 pips to the high of the bar where the ema's crossed and set my entry there. I placed a profit target at 50% of the ATR from the 4 hour chart which was 25 pips. It hit while I was sleeping. First attempt looks promising.

Great Job, Volcano

I missed all three trades. Each pair produced a trade between 04.00 and 05.00 gmt. Oh well be patient, there will be more oppurtunities
  • #26
  • Nov 6, 2007 2:39am Nov 6, 2007 2:39am
It seems that on this pair GJ the price loves to retrace before continuing. I while wait for the retrace before entering.
Attached Image (click to enlarge)
Click to Enlarge Name: gj h1.gif Size: 22 KB
  • #27
  • Nov 6, 2007 10:02am Nov 6, 2007 10:02am
Quoting Bam Bam
Sure Bro,
You have MT4 charts right??? Well i just check what the ATR says on the 4H and use that price.

Right now the ATR on 4H for EURUSD is .0037 so my SL would be 37pips since the EURUSD is 1.xxxx

Understand?
Hey, whats up everybody. I understand how the ATR applies for the EURUSD as illustrated in the example above, but I don't know how it should be for the GBPJPY. Could some please give an example. Thank you so much.
Live today as if you will stand before God tomorrow.
  • #28
  • Nov 6, 2007 10:14am Nov 6, 2007 10:14am
Quoting Pippy Cent
Hey, whats up everybody. I understand how the ATR applies for the EURUSD as illustrated in the example above, but I don't know how it should be for the GBPJPY. Could some please give an example. Thank you so much.
For this pair and this pair only I normally divide the ATR by 2.
Right now the ATR on the 4HR reads as 1.13.
that would be 113 pips divide by 2 = 56pips as my SL on the Hourly.


Hope that helps
  • #29
  • Nov 6, 2007 10:22am Nov 6, 2007 10:22am
Quoting Bam Bam
For this pair and this pair only I normally divide the ATR by 2.
Right now the ATR on the 4HR reads as 1.13.
that would be 113 pips divide by 2 = 56pips as my SL on the Hourly.


Hope that helps
Bam Bam,
It's your system, but I would suggest using the whole 4HR ATR as the stop for G/J. If it's a good stop for the rest of the pairs, it would be a good stop for this pair.
If it looks too high, just use half the position size.

If halving the 4HR ATR works for guppy, it will work for every other pair. IMO
  • #30
  • Nov 6, 2007 10:25am Nov 6, 2007 10:25am
Quoting billbss
Bam Bam,
It's your system, but I would suggest using the whole 4HR ATR as the stop for G/J. If it's a good stop for the rest of the pairs, it would be a good stop for this pair.
If it looks too high, just use half the position size.

If halving the 4HR ATR works for guppy, it will work for every other pair. IMO

Yes you are right. PLus this will keep everythig uniform and simple and thats what i am aiming for.
Thanks for your input...
  • #31
  • Nov 6, 2007 10:51am Nov 6, 2007 10:51am
Quoting Bam Bam
For this pair and this pair only I normally divide the ATR by 2.
Right now the ATR on the 4HR reads as 1.13.
that would be 113 pips divide by 2 = 56pips as my SL on the Hourly.


Hope that helps
Thanks Buddy,

That solved my problem. Are you still watching for the cross on your exit or have you been using the ATR divided by 2 for your TP.
Live today as if you will stand before God tomorrow.
  • #32
  • Nov 6, 2007 11:07am Nov 6, 2007 11:07am
Quoting Pippy Cent
Thanks Buddy,

That solved my problem. Are you still watching for the cross on your exit or have you been using the ATR divided by 2 for your TP.

I have been watching for the cross or where I am happy with my gain. This is working for me as I am able to monitor the charts while I am at my day job. Mostly use the ATR just for SL
  • #33
  • Nov 6, 2007 11:09am Nov 6, 2007 11:09am
Quoting Bam Bam
I have been watching for the cross or where I am happy with my gain. This is working for me as I am able to monitor the charts while I am at my day job. Mostly use the ATR just for SL
Alright cool.... Thanks for everything
Live today as if you will stand before God tomorrow.
  • #34
  • Nov 6, 2007 11:13am Nov 6, 2007 11:13am
Quoting Pippy Cent
Alright cool.... Thanks for everything

my pleasure bro...
  • #35
  • Nov 6, 2007 11:18am Nov 6, 2007 11:18am
I was also going to ask you, does it matter if the crossing is above or below the 50 sma on the 1 Hour Chart. Or does the 50 sma only apply to the daily.

Ex.

Daily chart 5 ema above 50 sma
1 Hour chart 5 ema crosses up above 13 ema but both ma's are below the 50

*Would you still take this trade. Thanks
Live today as if you will stand before God tomorrow.
  • #36
  • Nov 6, 2007 11:26am Nov 6, 2007 11:26am
Quoting Pippy Cent
I was also going to ask you, does it matter if the crossing is above or below the 50 sma on the 1 Hour Chart. Or does the 50 sma only apply to the daily.

Ex.

Daily chart 5 ema above 50 sma
1 Hour chart 5 ema crosses up above 13 ema but both ma's are below the 50

*Would you still take this trade. Thanks
I only worry bout the 50 on the Daily. If 5 is above the 50 on the Daily then I will trade every time the 5 crosses the 13 to the upside on the 1H.
  • #37
  • Nov 6, 2007 12:13pm Nov 6, 2007 12:13pm
I got +34 by shorting USDCAD and +30 by longing GBPJPY. long EURJPY = +14. So far so good.
  • #38
  • Nov 6, 2007 1:05pm Nov 6, 2007 1:05pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Hi All

Have you backtested this system? Be careful because it doesn't work when when trading ALL signals. Knowing which signals to trade is difficult, even for the pros and that's why most systems require that you trade all signals.

The crossing moving average system only works when the commodity is strongly trending which is a fraction of the time. Most of the time the commodity churns with unpredictable volatility so trading this system will chew up your capital with losses faster than light.

Notice how most of the examples people show you for the crossing moving average system are cherry picked? Back-test your system and see what happens... it's quite revealing and amusing.

Remember that moving averages reflect historical price averages and have no predictive value on value or price.... Most of the time, when the crossing moving averages give you a signal, the trend is over and you'll be entering a trade too late. These situations by far outweigh the cherry picked examples often shown to support systems.

Another point... moving averages only tell you about price which is the last thing to change about a commodity. Perception of value changes first and then price. Any system you use should first detect value and not price.

As an experiment and just for fun, buy when the system indicates sell and sell when the system indicates buy. You will find that most of the non-trending trades will win but you'll loose on the strongly trending trades. This is evidence that moving averages are delayed and moving average cross overs are late indicators.

You might get a few wins but long term you will loose. Sorry to burst your bubble. Be careful out there.

TrevA
  • #39
  • Nov 6, 2007 1:14pm Nov 6, 2007 1:14pm
Quoting TrevA
Hi All

Have you backtested this system? Be careful because it doesn't work when when trading ALL signals. Knowing which signals to trade is difficult, even for the pros and that's why most systems require that you trade all signals.

The crossing moving average system only works when the commodity is strongly trending which is a fraction of the time. Most of the time the commodity churns with unpredictable volatility so trading this system will chew up your capital with losses faster than light.

Notice how most of the examples people show you for the crossing moving average system are cherry picked? Back-test your system and see what happens... it's quite revealing and amusing.

Remember that moving averages reflect historical price averages and have no predictive value on value or price.... Most of the time, when the crossing moving averages give you a signal, the trend is over and you'll be entering a trade too late. These situations by far outweigh the cherry picked examples often shown to support systems.

Another point... moving averages only tell you about price which is the last thing to change about a commodity. Perception of value changes first and then price. Any system you use should first detect value and not price.

As an experiment and just for fun, buy when the system indicates sell and sell when the system indicates buy. You will find that most of the non-trending trades will win but you'll loose on the strongly trending trades. This is evidence that moving averages are delayed and moving average cross overs are late indicators.

You might get a few wins but long term you will loose. Sorry to burst your bubble. Be careful out there.

TrevA
Thanks for your input Treva, very valuable. I have not backtested this. I dont believe in backtest and I dont believe in EA's either. IMO there is a certain emotinal factor that you need to have which you wont find in backtestin or in EA's.

Your are right this may not work long term who knows, I wish I had a crystal ball to tell me, lol.

But in the meantime this is working for me and if its not broken well...... then it works.


PS. To anyone that started using this system, believe me you will probally get false signals every system has them, the key is MM. Please us proper MM.
  • #40
  • Nov 6, 2007 1:17pm Nov 6, 2007 1:17pm
Quoting banzai
I got +34 by shorting USDCAD and +30 by longing GBPJPY. long EURJPY = +14. So far so good.
for the GBPJPY did you get in early?
I should be getting a signal at the 3pm hour.

Congrats to you my friend!!!
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