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Simple 5 / 8 moving average crossover

  • #541
  • Jan 31, 2008 12:53am Jan 31, 2008 12:53am
short gbp/chf @ 2.1508
  • #542
  • Edited 7:04am Jan 31, 2008 4:19am | Edited 7:04am
Quoting Slkosier
I am watching te Eur/Gbp for a cross going up soon.. Hows everyone else doing?

delete:You mean, cross going DOWN?: (sorry I read the wrong chart)
Didn't have this chart on my "radar" so I missed out on an early entry.

Here's how I make my entry:
1. The day the arrow appears is D. The day before is D-1.
2. I will wait for bar on D to close.
3. Run a Fibo line from D-1 to D.
4. Entry is at 50% Fibo.

Of course, the above condition is not always met. I started testing this only 3 weeks ago, so there may well be many other possibilities. But the above is a start.


I noted that RichRichie's entry on the GU is smack at the bottom of the trough. How did you set your entry, Rich?

Note: Made new trades last Friday (8 in all, different pairs), 3 stopped out. Shouldn't have SL on demo trades, it stopped the continuity of observation. I am logging my trades, for future ref.
  • #543
  • Jan 31, 2008 4:23am Jan 31, 2008 4:23am
Quoting croesesFX
short gbp/chf @ 2.1508

Yes, 5-ema had crossed down on 8-ema.
But I will wait until the arrow appears. Got to stick to my "rules". I am testing this.
  • #544
  • Jan 31, 2008 1:27pm Jan 31, 2008 1:27pm
Quoting Aman Trebor
I noted that RichRichie's entry on the GU is smack at the bottom of the trough. How did you set your entry, Rich?

I waited for the cross only. When I entered the next session, I was only using the ema cross at the time, I did not have any other indicators on my chart, I have closed all three of my trades now for around 200pips in total(got chicken trading against the trend on the other 2.)

Today I demo traded the GU on a 4 Hour and shorted after the cross only, I must admit that I may have entered a little too soon on 4hour GU and much prefer the daily charts.

I like your entry idea on the lower time frame with fibs entry , Aman Trebor, will give it a try on the next setup.


Current Demo Trades

GBP/USD (4hour) entry @ 1.9846 short (may loose this one!!!)





Richrichie
$$$ Richrichie $$$
  • #545
  • Jan 31, 2008 1:42pm Jan 31, 2008 1:42pm
Quoting Aman Trebor
Yes, 5-ema had crossed down on 8-ema.
But I will wait until the arrow appears. Got to stick to my "rules". I am testing this.

The arrows trouble me Aman, I cant set the arrows to the same parameters at my ema's. The arrows show up 1 or 2 candles too late!!!

My EMA's are set as follows:

5 EMA CLOSE
8 EMA OPEN

now I cant seem set my arrow parameters on OPEN or CLOSE price, I can only just set the period value, I am tempted to dump the arrows and only use ema crosses, with RSI and LAGUERRE as secondary confirmation.

Am I missing something or are the arrows supposed to pitch up after an EMA cross?


Current Demo Trades

GBP/USD (4hour) entry @ 1.9846 short (may loose this one!!!)




Richrichie

(trying to live up to my name with forex!!)
$$$ Richrichie $$$
  • #546
  • Jan 31, 2008 2:54pm Jan 31, 2008 2:54pm
There she goes guys
All the best things in life are free.
  • #547
  • Jan 31, 2008 4:06pm Jan 31, 2008 4:06pm
Try setting your ema cross signal to 4 and 7 vs 5 and 8, looks like arrow shows up on the crossing bar and shows up one bar earlier than 5/8 cross. You may get more false signals this way but if you are using other indicators to confirm, this could help to get you in earlier. I put both on a chart with different color arrows to compare.
  • #548
  • Edited 9:01am Feb 1, 2008 2:42am | Edited 9:01am
Quoting richrichie
The arrows trouble me Aman, I cant set the arrows to the same parameters at my ema's. The arrows show up 1 or 2 candles too late!!!
Neither can I, unless I have the MQL source code, and I know how to program it.
I am using the same crossover signal posted on this forum. However, I prefer to follow the arrows, as it means that the trend is well underway. I have previously tried to enter on immediate crossover, but it's risky. It's better to miss 100 pips, than to lose 100.

My main aim is to avoid trend changes that are short-lived (e.g. GU 14-24 Sept, 26-30 Nov 07). I don't want to be caught by surprise, since I only check my trade twice a day. To avoid this, I use the "MACD Traditional" indicator. If the fast/slow ema's are on/near the zero-line, I don't trade.
As I said before, there are enough pips to be made (for me, that is) even if I missed a bar.

3 of my current trades:
EU BUY 1.4673
AU BUY 0.8791
GU BUY 1.9767
  • #549
  • Feb 1, 2008 9:36am Feb 1, 2008 9:36am
Thanks for the pointers guys. Thinking about it, the arrows are a second ema confirmation, as you put it Aman, once the arrows shows up, then its a higher probability that trending action has started

Entered long on the EUR/GBP @ 0.7473 this morning and things are looking good, Also my GBP/USD is now 146pips in profit so far, but I think I am going to abandon to 4Hour Charts and only use dailys.


Have a good weekend traders, chat to you guys next week

Current Demo Trades

GBP/USD (4hour) entry @ 1.9846 short (146 pips so far )
EUR/GBP (Daily) entry @ 0.7473 Long

Richrichie
$$$ Richrichie $$$
  • #550
  • Feb 1, 2008 11:59am Feb 1, 2008 11:59am
Hi, guys,

I try to write some EA for this system, and I'd like to think this is the final one. I tested it with Alpari UK and IBFX demo accounts, and there's some data error in chart. So I doubt the result.

Can you please help me test this with the right data, from as many broker as you can?

Sorry, for now I can only send you .ex4 file for the EA. I'm still not sure with the result using the right data.

Please help.

Thank you.
Attached File(s)
File Type: zip Alpari UK backtest.zip   28 KB | 649 downloads
File Type: zip IBFX backtest.zip   34 KB | 602 downloads
File Type: ex4 5-8_Crossover.ex4   8 KB | 1,210 downloads
  • #551
  • Feb 2, 2008 6:17am Feb 2, 2008 6:17am
Well I got in on

EUR/GBP at 7482 Long
GBP/USD 1.9669 for a Short

Let see what happens next week...Have a good weekend all

Slkosier
  • #552
  • Feb 2, 2008 7:14am Feb 2, 2008 7:14am
Quoting Zen
Hi, guys,

I try to write some EA for this system, and I'd like to think this is the final one. I tested it with Alpari UK and IBFX demo accounts, and there's some data error in chart. So I doubt the result.

Can you please help me test this with the right data, from as many broker as you can?

Sorry, for now I can only send you .ex4 file for the EA. I'm still not sure with the result using the right data.

Please help.

Thank you.
Thanks for the EA, I'll give it a try
  • #553
  • Feb 2, 2008 9:52am Feb 2, 2008 9:52am
Quoting Zen
Hi, guys,

I try to write some EA for this system, and I'd like to think this is the final one. I tested it with Alpari UK and IBFX demo accounts, and there's some data error in chart. So I doubt the result.

Can you please help me test this with the right data, from as many broker as you can?

Sorry, for now I can only send you .ex4 file for the EA. I'm still not sure with the result using the right data.

Please help.

Thank you.
which TP an SL did u use ?
  • #554
  • Feb 2, 2008 10:58am Feb 2, 2008 10:58am
Quoting 4newbie
which TP an SL did u use ?
SL = the opposite crossover
TP = only 120 point trailing stop for GBPUSD

Thanks.
  • #555
  • Feb 4, 2008 1:27am Feb 4, 2008 1:27am
Hey Traders

Got a stop loss idea this weekend, sorry if this idea has come up in this thread before, not sure

Place a 20 period SMA and an ATR on your chart, at the end of every daily session , SUBTRACT the ATR value from the SMA value on a long position to get next days stop loss value.

On short positions, ADD the ATR value to the SMA value of the closed day session to get you stop loss.

I got this volatility based trailing stop idea from a stock trader.


Happy Trading

Richrichie
$$$ Richrichie $$$
  • #556
  • Feb 4, 2008 2:03am Feb 4, 2008 2:03am
Quoting richrichie
Hey Traders

Got a stop loss idea this weekend, sorry if this idea has come up in this thread before, not sure

Place a 20 period SMA and an ATR on your chart, at the end of every daily session , SUBTRACT the ATR value from the SMA value on a long position to get next days stop loss value.

On short positions, ADD the ATR value to the SMA value of the closed day session to get you stop loss.

I got this volatility based trailing stop idea from a stock trader.


Happy Trading

Richrichie

Thanks! I'll check it out!

Ash
Humble Lifetime Member
  • #557
  • Feb 4, 2008 6:30am Feb 4, 2008 6:30am
Hi,

this is my first posting on this thread and thanks to Peter for sharing the system and to all those who have posted on it- seems a simple yet powerful system- easy to follow on the dailies too.

I echo a lot of the sentiments expressed on this site in that I have been drawn to intraday trading over the years, with a mixed bag of success- some good runs and some disastrous ones but not really making consistent returns over the long term.

I have never traded daily charts before but am hoping that they make for an easier trading life!

I have a signal short on GBP/JPY-generated on friday- anyone live trading this?

(I decided against it- purely because I dont want to take all the signals to start with but wondered whether anyone had the same signal and if anyone has taken it?)

I am currently long on EUR/GBP at 0.7538

regards,

Mark
  • #558
  • Feb 4, 2008 10:03am Feb 4, 2008 10:03am
Hi Guys been following this forum for a while, hats off to Peter and the rest of the guys, I have been trading on and off for about 18 months bought several indicators, strategies, all singing and dancing alerts, joined trading rooms with up and down success. I have read literally hundreds of forums followed certain criteria and had charts with so many indicators that my head exploded (twice ha ha) My trading now consists alot of trendlines, fibos and using shorter timescales.
But may I say this is by far the best forum I have come across, you guys should be knighted by the queen for all your hard work and persistance.
When I first started trading I read the belony about 95% of traders failing, where do these figures come from, I personally trained myself with the believe that I would not be one of the 95%, but there again I considered the 5% of so called successful traders, what do we deem a successful trader? millionaire trader, not lost all there trading account or maybe someone that makes a nice living out of it, not an all singing and dancing supertrader but an ordinary Joe like us guys who have maybe found a little successful strategy that pays us a nice little profit, all be it not the holy grail, (it dosent exist, anyone who says it does is a fool) but a strategy that wins a bit more than it loses, and I believe that Peter and you guys have found something close. I hope to be a part of this forum now and hopefully you can see I am a very positive guy (even after my multitudes of losses, but thats the cost of my education) Positivity breeds profit and success.
Anyway I have just noticed a possible cross on the hour chart down on the usd/cad, what do you think.
Once again respect to your guys

Tom (UK)
  • #559
  • Feb 4, 2008 10:55am Feb 4, 2008 10:55am
I took a quick 10 pip profit on this trade, in the testing stage and dont really like placing trades after 15.00pm UK time, brokers are very aware at this time and as we know they all have families and are thoroughly nice people and wouldnt do anything to try and relieve you of your hard earned money. (A broker friend advised me on what great people they were, ha ha)
Nice start though and looking forward to learning and earning.
Tom(UK)
  • #560
  • Feb 4, 2008 1:43pm Feb 4, 2008 1:43pm
Quoting booktimes
you guys should be knighted by the queen for all your hard work and persistance.

Tom (UK)

Hmmmmmm , Peters Knights....... sounds quite good dont you think chaps?


Good Trading Tom

Richrichie
$$$ Richrichie $$$
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