'Snap Crackle Pip' System

http://i5.photobucket.com/albums/y17...0/example1.jpg

I don't understand what is so difficult about this! What does 'note1' say? First Moving Average". So MA1 would be the period of the first moving average. What does 'note2' say? 0=sma, 1=ema, 2=lwma. So MA1 Mode would be 1 if you want an ema. In this case, we have defined the first MA as a 3ema.

http://i5.photobucket.com/albums/y17...0/example2.jpg

Read note2b, 2c, 2d and 2e. MA1Price is 'applied to' parameter. In this example, we have defined it as 1 (open). So far, we have defined a 3ema applied to the open of the candle.

It is the same as the following screenshot:

http://i5.photobucket.com/albums/y17.../example2a.jpg

Repeat above procedure for the 2nd MA (MA2)

Last one:

http://i5.photobucket.com/albums/y17...0/example3.jpg

ArrowType=what kind of arrow do you want to display? In this case, it is '2' (hollow).

Thanks Orion for taking the pain to explain.i understand now.God bless you and greetings from GMT+1.

Good luck with it. Just remember, it is not a trading system. Use it with your favorite indicators, not just by itself.

Fellow SCP followers,

Well I'm finally back, and noticed that the charts have set up quite a few nice trades lately if you were fortunate enough to get in on them. I on the other hand am sick as a dog. Probably the results of 7 flights in 4 days, and a coughing baby next to me on each plane. Since that is neither here nor there, I will diverge. Since it is now 2008, I have made it one of my major goals to create an exit strategy for SCP that works well, doesn't stop good long trades, and allows for reentry before we get all of the way back to the 18/45 cross. I once again welcome any ideas for this, whether it be another cross system, RSI, stochastics, etc.

Good luck, and watch today's signals because they all seem to be moving.

welcome back! We missed you.

Rob

Is anybody else watching what the Euro is doing at ~3:45 GMT? I was on the right side of two of the trades fortunately when the euro decided to bomb. In cases like this, I don't mind using a 35-50 pip trailing stop to lock in profit. This market is too wild not to have a safety net. And I'm warming up to the idea of a large stop loss for my trades, just so I don't have to sleep with one eye open.

Hope everyone was on the right side. Swings like this don't happen all of the time. Oh, and I would stay away from the ridiculous whipsaw nature that the GBPUSD is putting on right now.

Good luck, I may wait to see if things flatten out before I enter any more positions, especially with the Euro.

Anyone care to throw an opinion in the hopper as to what the .75% rate cut will do to our trading over the next 3 months or so? As I get ready to do my taxes, if my W2 ever arrives (and other forms..eek), I am forced to look back on a friendly bet that I made with a colleague of mine about Bank of America stock. He put a large sum of money into this one stock (young man with no idea how to manage money) with only the notion that 'this company isn't going under'. No kidding. And neither are the rest of the major banks. But if you think for one minute that trying to get rich quick off of one stock in a years time is a good idea for someone who put all of their money, which was suppose to be going toward paying off that huge engagement ring he just bought, than you can climb aboard the naive cruise also.

The bet was made 2 minutes before new years 2008, and simply asked where will the Bank of america stock that he bought at $42 be in 365 days. He said $53 to which I almost choked on. I said $39, and I was being optimistic with that. I don't believe the rate cuts will save them, I do believe it is a good company, and I know they'll be fine in the long haul. But that wasn't the bet; it was only 365 days. I like the dividend, the growth, but not for 365 days. I honestly hope I eat my hat, he makes lots of money, pays of that oversized ring, and we're all happy. But I don't think he will learn anything about managing his money for the future if this actually works. Enough about this, let's talk forex

I have to admit that I have been setting large stop losses at 50 points, with a trailing stop of 45 pips if the market is jumping around like crazy. I am currently short on the EURCHF and USDJPY, both of which are fortunately in the black. 2008 so far has been a fantastic year for returns for me, but I'm also really focusing on expanding my knowledge of world markets and all forms of investing such as bonds, annuities, etc..

Thought I would ramble, because I started this thread, and I just didn't feel like talking about Forex while I watch my EURCHF take off.

Cheers, I have a great story to tell where I brag about my awesome friends in the next post.

I don't mind admitting that I am very young and have a desire to soak everything up. This may lead back to the fact that I have 2 friends who are very similar to me, both of which share similar interests but with varied career paths thus far. One man was a gifted programmer, very down to earth who turned down jobs with the video game industry to venture into writing programs for a small startup financial company that would choose stock baskets each day based on his set of indicators. This idea of a self-adjusting mutual fund appeared to be moving in the right direction. He ultimately left the company to start a family close to our origin, is doing very well, and I don't blame him.

The second friend was in a similar boat. Programmed for the company, also participated with business deals, climbed the ladder fast as I knew he would, and then decided he felt confident enough to go out on a limb and buy a 10% stake in the company. To do this he needed to borrow a large chunk of money, with the risk of the company not performing well and the loan kicking him in the face. To make his story the sweetest of all three of us, the company boomed, was able to acquire major money to manage from huge companies (Wash Mu, Hartford, etc.), and is going to sell in about 1-2 years. Kind of a take the money and run situation. More like a take the money, smile, and sit on the beach for the rest of your life actually. Last I heard, he was now worth between...well....I'll just say that the check has 7 zeros in it.

I fit in here somewhere. Somewhere between I envy them, they wish they did what I do, and I'll see them both at my wedding in a couple of months. I'm glad I still keep in touch with them, but we make the really rich one pay for golf when we meet up. I thank them for taking me under their wing, especially when they were making me read money managment books like 'Market Wizards' and 'Reminiscence of a Stock Operator' before I toyed with the game. But I can still hold it over there heads that I am the only one with a Ph.D. I wouldn't mind trading that for 7 zeros, I have to admit. I am the baby of the group by a few years; and I'm proud to say that although they are older, none of us are near 30.

I hope you guys have people to help guide you like I did. If so, buy them a pint, they deserve it.

i dont trade this system.....mine is much more simple ....classic price action/hekin-ashi candles/and 3 ema's,

anyhow so far 2008 rocking for me also.my problem is im trading dollars.

i made 200k of them a year ago yet they act like i only made 20k......

i trade the geppy and after the money gets all exchanged i get 75 cents on dollar.

my question is ....as a usa citizen is there a broker where i can trade gbp base or even a gold base? dollar base is loosing .....dollar is worth roughly a dime.

Thanks in advance,

Snapcracklepip

To those of you who have been using the system and having a problem with multiple emails sent on the hour for each notification, I have a fixed version. This have been working well for me and will only send one email.

Good luck Rob, and the rest of you

Great job. Thank is what I was looking for!

Rob
Longboat

Too bad this thread seems to have died off. I still use the system and it seems pretty reliable.

Orion,

Have you figured out a good exit strategy. This seems like a good system and I'm amazed that it just faded away pretty fast from the start. Right now I'm demo-ing OzFX and SlopeADX with EA. I have found that I personally overtrade and not there for the good trade (sleeping), so I figure I need an EA to take me out of the trade ( if you know what I mean).

No...exits are tricky.

I personaly use OZFX on a demo account. When it takes a trade (4H), I use SCP among other indicators to time my entry, usually on shorter tf's. Partial TP of 35-50 pips (depending on the pair), move SL to BE and trail the remainder.

Is anyone still trading this system with success? How has it fared over 2008?

Are you still trading solely on the 18 crossing the 45 and vice versa?

I'm still looking for a reliable set and forget simple system where I can average 20+ pips a day.

Thanks...

Thanks to all of you who have hung in there. The last few months for me have been filled with getting married, moving 1000 miles, interviewing a ton, and finding a new job which if I do things right, will consume all of my time for the next 3 years. This is not an excuse as to why I haven't posted, but just an update as to why I intend to post more in the direct future. I have been trading sporadically, getting my email indicators and sometimes making the trade. More times than not, I have just been visualizing where the trades would have gone.

Orion, I completely agree with you about the tricky exits. I do know that the 18 cross 72 is working well, and if someone could come up with another indicator that correlates as confirmation for the 18 cross 45 as an exit it may be successful. I have also been devising a mental rule that I haven't mastered yet that will deal better with pairs that are perpetually trending sideways, and in the whipsaw zone. I know alot of this is taken care of by using the 1hr charts instead of smaller time frames, but it still isn't perfect. I find my self liking to stay with a minimal amount of open trades in the majors, but if the situation were to arise where I was to get a signal for every pair, I wouldn't go against it. I also like to open a trade on say a USD pair that is trending if there is news that sends it in one direction. I mean to say that if the EUR/USD, AUD/USD and GBP/USD are all rising, I would tend to open the pair that was not previously running flat. Any sentiment on this. Glad to be back. Let's just hope I don't run into too many more trading distractions in the near future. Cheers, and thanks for hanging around!

Anyone still using this method?

thanks would like your comments

Hi iam using this EA, but i have a problem,
first the entry/exit symbols are not there, why not?
second, is the trailstop aktiv only at next day??
The backtest is very good, is it the same trail??
Then its ok, but look at the chart, there is today no Trail !!!!!!
Whats wrong??
When the backtest is looking with this wrong Trail, then its ok, but is he???
Can anybody help me??
The HP from Glenn Bacon is not aktiv!!!!!!!!!!!!
Ohh, very bad englisch

Regards
gatowman

Hi all.
Is somebody here, there know how it works????

regards
gatowman

Hi slade15342,

nice version of simplefx,
but i missing the trailing Stop like the original.
Can somebody code this???
Pleeeeease

regards gatowman