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Attachments: X50 - M5 trend following
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X50 - M5 trend following

  • #81
  • Jan 21, 2008 6:57pm Jan 21, 2008 6:57pm
Quoting M.A.C.Doug
I picked up +41 pips trading EUR/JPY in the early Asian session. I am very bearish on the carry trades atm due to the equity market meltdown. I was looking for any excuse to enter and x50 gave me a nice early entry on a quick move. I cant post a chart but I was in the trading room with with CanuckCT at time. He was on his GBP/JPY trade at the same time. Lots of fun!
Which trading room are you guys in and at what times?
  • #82
  • Jan 21, 2008 7:37pm Jan 21, 2008 7:37pm
Got home just in time to see the 14,3,3 crossing above 50, the 5,3,3 was already there, MACD going above zero and the AS crossing nicely. +20 easy pips. =)
Attached Image
  • #83
  • Jan 21, 2008 8:03pm Jan 21, 2008 8:03pm
Quoting tenshi
Which trading room are you guys in and at what times?
Check post #38
  • #84
  • Jan 21, 2008 8:04pm Jan 21, 2008 8:04pm
Quoting ocelot
Got home just in time to see the 14,3,3 crossing above 50, the 5,3,3 was already there, MACD going above zero and the AS crossing nicely. +20 easy pips. =)
Nice trade and good line up of indies for the entry...well done.
  • #85
  • Jan 21, 2008 8:43pm Jan 21, 2008 8:43pm
Quoting Oromis
Check post #38
Thanks Oromis
Not to throw a spanner in the works, but any good system needs to be able to not just pick up the good trades but filter out the "junk signals". Any ideas for the attached picture people?
Attached Image
  • #86
  • Jan 21, 2008 10:01pm Jan 21, 2008 10:01pm
Tenshi,

The only comment I would like to make regarding the above chart...
Always take note of price action immediately prior to the current price. Discretion is your filter...and this you will learn the more you trade.

Where you have the vertical line, I would have jumped in two candles prior, but considering price before the consolidation seemed to be down, would have a tight stop and would grab whatever profits I could get.

Also, remember your money management.

You will always have losers, manager those losses and you will be profitable.

This is a good system, and I like it a lot and most of those people trading it are doing pretty well.

Good luck with your trading.

Oromis.
  • #87
  • Jan 21, 2008 10:47pm Jan 21, 2008 10:47pm
Quoting Oromis
Tenshi,

The only comment I would like to make regarding the above chart...
Always take note of price action immediately prior to the current price. Discretion is your filter...and this you will learn the more you trade.

Where you have the vertical line, I would have jumped in two candles prior, but considering price before the consolidation seemed to be down, would have a tight stop and would grab whatever profits I could get.

Also, remember your money management.

You will always have losers, manager those losses and you will be profitable.

This is a good system, and I like it a lot and most of those people trading it are doing pretty well.

Oromis.
Thanks for the advice Oromis.
I am just on the holy grail mission (doesn't exist) of finding the ultimate group of indicators. I know I will not get it (the holy grail) but the closer the better.
The line on the picture is just the day separation line on my chart, not where I entered a trade.
I know this system is good, I have benefited about 30 pips today using it.
There is an excellent indicator made by ALEXISH in the pivot squeeze thread that helps to distinguish between ranging and trending modes.
this is the link
http://www.forexfactory.com/showthre...=57426&page=34
called: Bands_Squeeze_v5.mq4
  • #88
  • Jan 21, 2008 11:06pm Jan 21, 2008 11:06pm
My first three trades using X50:

GJ
205.80>>>>206.11
206.64>>>>206.78

EJ
153.39>>>>153.25

Need to improve on exit....I am nervous on 5 minutes.

Will be following this thread

  • #89
  • Jan 21, 2008 11:30pm Jan 21, 2008 11:30pm
I'd like to check this out on higher TFs but when I do my indicators change!! Instead of MACD H4 and Stochs I get Spuds MTF stochs.
It is probably my lack of knowledge of the MACD H4 indicator, but if someone can help to change time frames I will do some forward and back testing in higher TFs.

thanks
Attached Image
  • #90
  • Jan 21, 2008 11:57pm Jan 21, 2008 11:57pm
Here is the template with the same view on all timeframes. I'll update post 1 as well as that is where the other indicators are located.
Cheers,
CanuckCT

Quoting tenshi
I'd like to check this out on higher TFs but when I do my indicators change!! Instead of MACD H4 and Stochs I get Spuds MTF stochs.
It is probably my lack of knowledge of the MACD H4 indicator, but if someone can help to change time frames I will do some forward and back testing in higher TFs.

thanks
Attached File(s)
File Type: tpl x50.tpl   6 KB | 565 downloads
  • #91
  • Jan 22, 2008 12:02am Jan 22, 2008 12:02am
Quoting CanuckCT
Here is the template with the same view on all timeframes. I'll update post 1 as well as that is where the other indicators are located.
Cheers,
CanuckCT
Thanks CanuckCT
Works fine now.
  • #92
  • Jan 22, 2008 12:22am Jan 22, 2008 12:22am
I'm working on an indicator to filter this stuff out. Film at 11
Cheers
CanuckCT

Quoting tenshi
Thanks Oromis
Not to throw a spanner in the works, but any good system needs to be able to not just pick up the good trades but filter out the "junk signals". Any ideas for the attached picture people?
  • #93
  • Jan 22, 2008 12:28am Jan 22, 2008 12:28am
Quoting CanuckCT
I'm working on an indicator to filter this stuff out. Film at 11
Cheers
CanuckCT
thanks for your hardwork! have u try trading 1min timeframe? hows your success percentage on the 5mins? thanks
  • #94
  • Jan 22, 2008 1:12am Jan 22, 2008 1:12am
report back after you test that.
Cheers
CanuckCT

Quoting fxking
thanks for your hardwork! have u try trading 1min timeframe? hows your success percentage on the 5mins? thanks
  • #95
  • Jan 22, 2008 9:29am Jan 22, 2008 9:29am
You don't always have to trade the macd cross. here macd was above zero, stochs had gone below 50 and turned back up to cross 50, as was in agreement. Entered for +12 with no heat. I'm looking at QQE but quite frankly wasn;t a factor on this trade. Interesting that it did cross right about where I entered.

EDIT - I had no reason to exit this trade other than I had 10 to 15 pips in mind. It hit 15, retraced back to 12 and I hit the trigger. I left another 20 pips on the table.

Cheers
CanuckCT
Attached Image
  • #96
  • Jan 22, 2008 9:47am Jan 22, 2008 9:47am
I did not take this trade...not paying attention. My day job....

Here is my analysis those of how x50 would be traded. There are 3 vertical lines. The first line is where stoch crosses 50 and you have a heads up. Agressive traders would enter here because macd looks like it's turning and As looks like it will cross due to slope of red line. the second vertical line is the first bar of MACD cross, another entry point and the standard one...all conditions met per the first post. The third line is the first bullish candle after the setup. You could also enter here, it's a bit more conservative and price closed over 208...a round number. Three ways to play it as I see it.
Cheers,
CanuckCT
Attached Image
  • #97
  • Jan 22, 2008 11:46am Jan 22, 2008 11:46am
Failed trade. I thought the setup on this one was good and was even up 8 pips at one time. Waited an extra bar on the entry...was waiting for AS to cross a bit more. If I had entered on macd cross, would have hit target. Didn't like price action. Closed for -2.
Cheers
CanuckCT
Attached Images
  • #98
  • Jan 22, 2008 12:00pm Jan 22, 2008 12:00pm
Hmmmmm. Maybe we could figure out a way to calculate the strength of the absolute strength indicator to filter out a few of these little bad ones. In other words filter out some or all of the weak trends.
  • #99
  • Jan 22, 2008 12:25pm Jan 22, 2008 12:25pm
I presume this to be 3 winners...59 pips? You nervousness may have something to do with thepairs youare trading. EURUSE, AUDUSD and EURCHF all fire off good trades and are less volatile. Just a thought.

Cheers
CanuckCT

Quoting arhemsi
My first three trades using X50:

GJ
205.80>>>>206.11
206.64>>>>206.78

EJ
153.39>>>>153.25

Need to improve on exit....I am nervous on 5 minutes.

Will be following this thread

  • #100
  • Jan 22, 2008 12:28pm Jan 22, 2008 12:28pm
If you look at the indicator is has 4 variables...the bull and bull signal lines and the bear and bear signal lines. The distances between the bull and bull signal line will be greater when the line has some slope to it and less when the line is flat. That's how you tell if it's flat and the distance (difference in the variable) is probably different for each pair. There's probably a filter in there somewhere...
Cheers
CanuckCT

Quoting magnumfreak
Hmmmmm. Maybe we could figure out a way to calculate the strength of the absolute strength indicator to filter out a few of these little bad ones. In other words filter out some or all of the weak trends.
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