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M.Y.O.R. System

  • #21
  • Nov 20, 2007 5:31am Nov 20, 2007 5:31am
Here a example of different type of trade

QQE crosses its signal line then crosses the 50.
ADX_CCI crosses zero line.
chimp crosses zero line
price crosses ema


We Enter long and we are in a trend and take profit @ ema outter band.

We then look for reentry, so look at Blue Line on main chart enter long at blue line and take profit @ outer band

We look for another rentry on blue line, we enter long again, but we dont hit outter line, so we exit when price crosses back under blue.
Attached Image
Mono
  • #22
  • Nov 20, 2007 5:35am Nov 20, 2007 5:35am
Quoting mono
Guys, you need to make you own rules for entry and exit.

All I ask is to post your observations

But here is an example

Here is a chart with 2 entries, the first would have resulted in 50-60 pips, second about 30 pips
mono,the reason that i ask for your entry/exit criteria is bcos u r the starter of this thread and will be more familiar using your own setup,on our side we can improve the setup further,if possible after we demo,thanks
  • #23
  • Nov 20, 2007 6:22am Nov 20, 2007 6:22am
Quoting fxking
mono,the reason that i ask for your entry/exit criteria is bcos u r the starter of this thread and will be more familiar using your own setup,on our side we can improve the setup further,if possible after we demo,thanks
fxking, Look at the charts I have posted, for sample entries and exit. There are many different methods/combinations of entries within the chart.

I keep my stoploss tight usually 30 pips and my targets could be anything from 30 - 100 pips.

Look at chart below.

What happened here is the price went below the outter band, I didnt take the trade when it hit the outter band, but I did take a long when it crossed back, Chimp was at oversold levels and so was ADX_CCI. I decided it was worth the risk. Stoploss was @ 30. Normally I would've gotten out for about 40-50 pip, but I was distracted (kids) and when I returned 30 mins later, it developed into a trend trade so I let it run (locking in pips along the way) till it reached monthly support 2 for a gain of 220 pips.

I was lucky with that. But just an example of how a short term trade developed into a longer term one, even by accident.

So bottom line is there are many ways to trade this chart.
Attached Image
Mono
  • #24
  • Nov 20, 2007 6:50am Nov 20, 2007 6:50am
Here is a trade I would of taken if I was @ the computer.

ADX_CCI was at flatline and price hit outter band, so I would have shorted.

Result would have been about 60 pip profit
Attached Image
Mono
  • #25
  • Nov 20, 2007 7:03am Nov 20, 2007 7:03am
mono sorry to ask, I cant download your indicators are they bollinger bands on the main chart? If so what are the settings
cheers
  • #26
  • Nov 20, 2007 7:11am Nov 20, 2007 7:11am
Quoting mono
fxking, Look at the charts I have posted, for sample entries and exit. There are many different methods/combinations of entries within the chart.

I keep my stoploss tight usually 30 pips and my targets could be anything from 30 - 100 pips.

Look at chart below.

What happened here is the price went below the outter band, I didnt take the trade when it hit the outter band, but I did take a long when it crossed back, Chimp was at oversold levels and so was ADX_CCI. I decided it was worth the risk. Stoploss was @ 30. Normally I would've gotten out for about 40-50 pip, but I was distracted (kids) and when I returned 30 mins later, it developed into a trend trade so I let it run (locking in pips along the way) till it reached monthly support 2 for a gain of 220 pips.

I was lucky with that. But just an example of how a short term trade developed into a longer term one, even by accident.

So bottom line is there are many ways to trade this chart.
thanks for your explanation mono,do u trade this method with gbp/jpy only or other pairs as well? u mentioned that your stoploss is 30pips and tp is ard 40-60,so risk/rewar ratio is 1:1 to 2,do u look at other time frame as well?
  • #27
  • Nov 20, 2007 7:16am Nov 20, 2007 7:16am
Quoting mono
Here is a trade I would of taken if I was @ the computer.

ADX_CCI was at flatline and price hit outter band, so I would have shorted.

Result would have been about 60 pip profit
mono,whats the function of the blue adxvma on the chart? thanks
  • #28
  • Nov 20, 2007 7:20am Nov 20, 2007 7:20am
Quoting croesesFX
mono sorry to ask, I cant download your indicators are they bollinger bands on the main chart? If so what are the settings
cheers
Hi croesesFX

Its EMA 27 on open with levels of +30 +60 -30 -60. Can u see the indicators in MT4 custom?
Mono
  • #29
  • Nov 20, 2007 7:24am Nov 20, 2007 7:24am
Quoting fxking
thanks for your explanation mono,do u trade this method with gbp/jpy only or other pairs as well? u mentioned that your stoploss is 30pips and tp is ard 40-60,so risk/rewar ratio is 1:1 to 2,do u look at other time frame as well?
I only use this 5 min timeframe on GBPJPY, I havent looked into other currecies or timeframes. I like to get in and out of trade quickly. Even if it means making 5 pips. If it doesnt look good get out of the trade.
Mono
  • #30
  • Nov 20, 2007 7:28am Nov 20, 2007 7:28am
Mono
thanks I now have it
cheers
  • #31
  • Nov 20, 2007 7:29am Nov 20, 2007 7:29am
Quoting fxking
mono,whats the function of the blue adxvma on the chart? thanks
Blue line is for possible re-entry on a trend trade. Price tends to pull back to it then bounces away. Same goes from the slow magenta line.
Mono
  • #32
  • Nov 20, 2007 7:34am Nov 20, 2007 7:34am
You can also use blue line & EMA Line cross for entry
Mono
  • #33
  • Nov 20, 2007 6:46pm Nov 20, 2007 6:46pm
Updated Template.

Go to First Page
Mono
  • #34
  • Nov 20, 2007 7:21pm Nov 20, 2007 7:21pm
I have Magnified Market Price.mq4
QQE.mq4
Attached File(s)
File Type: mq4 Magnified Market Price.mq4   1 KB | 465 downloads
File Type: mq4 QQE.mq4   3 KB | 425 downloads
  • #35
  • Nov 20, 2007 7:25pm Nov 20, 2007 7:25pm
You dont need to use my version. The one I posted shows you where the EMA bands are sitting and current candle hi, lo, open.
Mono
  • #36
  • Nov 20, 2007 7:37pm Nov 20, 2007 7:37pm
Last 24 hrs there 14 entries (not including pullbacks), even if your target was a low 20 pips that equates to 280 pips in your pocket.
Attached Image
Mono
  • #37
  • Nov 20, 2007 9:15pm Nov 20, 2007 9:15pm
very intresting system..
needs some teamwork to identify the best entries/exists of it!
Fay All Time Return: -98.7%
  • #38
  • Nov 20, 2007 9:34pm Nov 20, 2007 9:34pm
Sorry, didn't read first post
  • #39
  • Nov 20, 2007 9:36pm Nov 20, 2007 9:36pm
Why do you enter a trade @ line #3,4,5,6, 9,10,11? Thanks.
http://www.forexfactory.com/attachme...1&d=1195616095

I know at line #1, we enter @ point A, line 2 @ pt. B, etc...
Attached Image
  • #40
  • Nov 20, 2007 9:50pm Nov 20, 2007 9:50pm
Line 2, 4, 5, 6, 7, 9, 10, 12 Price hit the outter band good chance of reversal
Line 3, 8, 11 chimp crossed 0 and QQE crossed 50, also Blue line crossed EMA a bar later
Mono
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