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the key to the mint

  • #2,801
  • Feb 17, 2008 9:30pm Feb 17, 2008 9:30pm
according to IBFX on MT4 (this is what i use for my signals) and i know that a week or two ago everyone was to use ODL feed on MT4, but i havent and probably wont either.

anyway, this is the readings are based on the close of friday:
GBPJPY - 5ema -- 211.11
8ema --210.58
RSI --50.5212
LONG


GBPUSD - 5ema -- 1.9606
8ema -- 1.9600
RSI -- 47.3387
No Trade

These are my readings and I will trade according to this. We all know there are slightly different readings between data feed and when its close call for ema and rsi on the daily, there is a potential for different signals like in this case. Regardless, when its very close, discretion should be used, meaning consider voiding these if other signals are obvious (rsi = 55 or 66 instead of 50.5).

thats my 2pips
  • #2,802
  • Feb 17, 2008 9:33pm Feb 17, 2008 9:33pm
Quoting TraderGeek
Ran v5 tonight and went ahead and had it place trades right away (UseHourTrade = false).

My results:

NZDJPY +24
AUDJPY +45
EURJPY +12

Total: +81

After the first two had closed out so nicely, I just closed the E/J for the 12 and turned off the EA. I like Harold's advice of not trying to hit a grand slam every night. 50+ pips a night will do quite nicely.
TraderGeek,

are the results based on the ideal hours of 6-18gmt?

Does your EA only execute trades between hours 6-18gmt when the last of the 3 signals occur? or does it run 24hours daily?

I believe the hours should only be 6-18gmt, but could you make them an input for the user to choose?
  • #2,803
  • Feb 17, 2008 10:36pm Feb 17, 2008 10:36pm
Quoting Trader4Life
TraderGeek,

are the results based on the ideal hours of 6-18gmt?

Does your EA only execute trades between hours 6-18gmt when the last of the 3 signals occur? or does it run 24hours daily?

I believe the hours should only be 6-18gmt, but could you make them an input for the user to choose?
My results are the EA running all the time ... trades were opened at 23GMT. Basically once it had a signal.

This is explained thoroughly in the documentation, but the way to control the hours it trades are as follows:

UseHourTrade = true
FromHour = 6 (or 7)
ToHou = 18
  • #2,804
  • Feb 18, 2008 2:36am Feb 18, 2008 2:36am
TG
Sorry for the newbie question but I've downloaded the new EA and placed it in my "indicator" folder on MT4 but when I try to place it on my chart it does not appear, have I done something wrong?
Thanks in advance for you hard work and response.
Sebastian
  • #2,805
  • Feb 18, 2008 3:23am Feb 18, 2008 3:23am
For all people interested here is my weekly backtest. I'm still doing the manual road with the mint, but I think at the end of february I will join the EA group to share experiences and ideas. Have a good week,i will be ussually on line in the room at London opening time. Ciao!
Attached File(s)
File Type: xls week february 11-15 2008 Harold's System.xls   24 KB | 497 downloads
  • #2,806
  • Feb 18, 2008 4:00am Feb 18, 2008 4:00am
Quoting autaret
For all people interested here is my weekly backtest. I'm still doing the manual road with the mint, but I think at the end of february I will join the EA group to share experiences and ideas. Have a good week,i will be ussually on line in the room at London opening time. Ciao!
hi autaret,
on 12.2.08 you had no signal in gbpusd. I had a short at 900 with tp 30 pips
do you had no signal on the daily? with alpari UK on the daily it was ok for a short? emas 1.9539 and 1.9603 for MA(8) rsi= 40.5507

onther question please: do we use tp and sl = 30 for gbpusd not 50?
tp, sl = 50 only for the gbpjpy? is that correct?
Attached Image
  • #2,807
  • Feb 18, 2008 8:23am Feb 18, 2008 8:23am
Quoting sebastian709
TG
Sorry for the newbie question but I've downloaded the new EA and placed it in my "indicator" folder on MT4 but when I try to place it on my chart it does not appear, have I done something wrong?
Thanks in advance for you hard work and response.
Sebastian
Sebastian, you have to place the EA in your "expert" folder on MT4 and make sure you check "allow live trading" in the common tab. You will know if it is working if you have a smiley face. Also, if you only have an "x" instead of a smiley face make sure you activate the "expert advisors" on the top of your trading platform. Just click on that tab. Hope that helps.
  • #2,808
  • Feb 18, 2008 8:37am Feb 18, 2008 8:37am

Hi All,
the below message is from Harold. He just in and out of trading room in a fraction of second, but I could lucky to see his message. Those who do not login trading room every day may miss his important message. That's why I posted here.
hi everyone i want to thank everyone for there kind words toward me they are much appreciated i have read through the posts here and on forum and it seems you guys are getting off track, with ea's sharing other indicators 5 min strategies etc. stay with the plan or you will have nothing to trade why use an ea when you have 2 eyes to put on trades ea's are not reliable they could make erros and cost you money auturet post a weeks summary saying not that great of a week yet if you put on all trade
  • #2,809
  • Feb 18, 2008 9:40am Feb 18, 2008 9:40am
i had lost connection to complete the thought if all signals were placed last week the net according to auteret was a + 150 stay on target and dont let others cause you to deviate with their strategies otherwise you will become double minded and lose your confidence and your shirt
  • #2,810
  • Feb 18, 2008 10:58am Feb 18, 2008 10:58am
Quoting Trader4Life
Below is my daily signals. I see a few newbies out there so, i decided to post this.

GJ - LONG
GU - NO TRADE
GC - SHORT
EJ - LONG
AJ - LONG
CJ - NO TRADE (note: Data feed from TradeStation)

good trading to all in the upcoming session!

T4L
Hey everybody,

I think I have asked this in the past a long time ago, but just for further clarifaction. We use Fridays Daily signals for Mondays trades is that correct or am I mistaken. Thanks in advance and God Bless.
Live today as if you will stand before God tomorrow.
  • #2,811
  • Feb 18, 2008 11:39am Feb 18, 2008 11:39am
Quoting Pippy Cent
Hey everybody,

I think I have asked this in the past a long time ago, but just for further clarifaction. We use Fridays Daily signals for Mondays trades is that correct or am I mistaken. Thanks in advance and God Bless.
Yes you use the Friday candle and not the Sunday candle.
God's Love For You Is Sure Never You Doubt It
  • #2,812
  • Feb 18, 2008 11:41am Feb 18, 2008 11:41am
Quoting D liberators
Yes you use the Friday candle and not the Sunday candle.
Thanks. I appreciate it.
Live today as if you will stand before God tomorrow.
  • #2,813
  • Edited 4:19pm Feb 18, 2008 12:02pm | Edited 4:19pm
Thought I'd post my demo statement. Not much time yet but so far looks very promising.

A couple of things on how I use the EA. Not to say everybody has to do it this way, but I am a bit concerned at the Holy Grailitis that seems to be associated with EA's. The EA is NOTintended to do 100% of the work for you. You should still be looking at charts, managing your trades, etc. The EA IS intended to take some of the work out of the process and avoid human error in placing trades.

On to how I use it.

- Most of the time, the EA is turned off
- At 0 GMT, I turn on the EA with UseHourTrade = true so it won't place trades
- I use the EA to determine the daily trend. Out of those pairs, I take a good look at the hourly charts to see what I think will be good.
- At the time I want to trade (7 GMT if you're tarading the mint hours), I turn on the EA for those pairs I want to trade. When it takes a trade, I manage the stops and TP manually based on Daily support and resistance, etc.
- Once I have taken the profit I want for the day, I turn off the EA.

As you can see, I am using the EA to basically just do the work for me of calculating initial stop and tp and place the trades. You certainly can "set it and forget it" (and there will be times I will do this because I can't be at the PC at trading time), but I think some discretion is required for this system and trying to make the EA take every last thing into account would create an unmanageable beast. I fully expect better performance when actively using the EA than if I just "set and forget".

Keep in mind, if anybody was able to create an EA that worked so well with no intervention, it would be worth a billiion $ or more.
Attached File(s)
File Type: pdf DetailedStatem.pdf   45 KB | 705 downloads
  • #2,814
  • Feb 18, 2008 12:04pm Feb 18, 2008 12:04pm
this is exactly what i was trying to pass across in the chat room some few days ago. The chat room is becoming too crowded wit many trading strategies hence running in conflict with the purpose it was intended for (discussing and seeking ways of improving on mint key strategfy, etc.)

I think we should adhere to Harold's advice and avoid 'Analysis Paralysis'. If my words were not earlier honoured, the sage has spoken to authenticate what i said earlier, please lets adhere to it. (Experience is the best teacher, and i've had both sweet and sour experience to know what works in forex trading.
The KISS rule will always apply-Keep It Simply Simple.
Simple technique, great results. What more holy grail are we looking for?
Quoting harold4x
i had lost connection to complete the thought if all signals were placed last week the net according to auteret was a + 150 stay on target and dont let others cause you to deviate with their strategies otherwise you will become double minded and lose your confidence and your shirt
God's Love For You Is Sure Never You Doubt It
  • #2,815
  • Feb 18, 2008 12:28pm Feb 18, 2008 12:28pm
Harold, so good to hear from you. Any words from you are greatly appreciated and it is just a lift to see a post from you. Trust that all is well and that maybe a little extra rest and attention to family has give you a lift too!

Take care of yourself.

Jorene
jht


Quoting harold4x
i had lost connection to complete the thought if all signals were placed last week the net according to auteret was a + 150 stay on target and dont let others cause you to deviate with their strategies otherwise you will become double minded and lose your confidence and your shirt
  • #2,816
  • Feb 18, 2008 1:58pm Feb 18, 2008 1:58pm
Today 8:40am
harold4x
Senior Member
Member Since Jan 2006
Posts: 862


http://www.forexfactory.com/images/icons/icon1.gif
i had lost connection to complete the thought if all signals were placed last week the net according to auteret was a + 150 stay on target and dont let others cause you to deviate with their strategies otherwise you will become double minded and lose your confidence and your shirt

I agree 100% with Harolds last post. I was able to take 343 single pips last week using Harold's method. A couple of the trades I stayed with longer than the 30 pips because I was watching them. It is a great system once you focus on the entry and exit.
  • #2,817
  • Feb 18, 2008 4:09pm Feb 18, 2008 4:09pm
Quoting MJurban
hi autaret,
on 12.2.08 you had no signal in gbpusd. I had a short at 900 with tp 30 pips
do you had no signal on the daily? with alpari UK on the daily it was ok for a short? emas 1.9539 and 1.9603 for MA(8) rsi= 40.5507

onther question please: do we use tp and sl = 30 for gbpusd not 50?
tp, sl = 50 only for the gbpjpy? is that correct?
Thank you for your precise observation. You know ... when I traded on line that candle I marked a NO TRADE on it becouse emas didnt crossed that time but ... now coming back to my chart I see the cross so it's a validated trade.
The problem is: the emas cross make a bad joke to all us when it is not a decise and clear cross, sometimes just when the next candle start you see the cross not at the close of the last candle.
In other words, unfortunately what is clear on a backtest is less clear during the real trade ... just with experience you can take the better decision on line! Anyways, any contribute this discussion is welcome ...

p.s. the TP on GU is 30 (just GJ has 50)

ciao
  • #2,818
  • Feb 18, 2008 7:16pm Feb 18, 2008 7:16pm
Quoting forexmad
Hi All,
the below message is from Harold. He just in and out of trading room in a fraction of second, but I could lucky to see his message. Those who do not login trading room every day may miss his important message. That's why I posted here.
hi everyone i want to thank everyone for there kind words toward me they are much appreciated i have read through the posts here and on forum and it seems you guys are getting off track, with ea's sharing other indicators 5 min strategies etc. stay with the plan or you will have nothing to trade why use an ea when you have 2 eyes to put on trades ea's are not reliable they could make erros and cost you money auturet post a weeks summary saying not that great of a week yet if you put on all trade
Thanks for the post ..I would have missed it... YO Harold
  • #2,819
  • Feb 18, 2008 9:09pm Feb 18, 2008 9:09pm
quite right G. The system works perfectl well most of the time and wen u leave trades on, you get more pips than the average 30. but with wider range of sl. I've achieved a 300% increase on my account in less than 2 weeks with this system. (i trade more than the 6 pairs)
Quoting GWN
Today 8:40am
harold4x
Senior Member
Member Since Jan 2006
Posts: 862


http://www.forexfactory.com/images/icons/icon1.gif
i had lost connection to complete the thought if all signals were placed last week the net according to auteret was a + 150 stay on target and dont let others cause you to deviate with their strategies otherwise you will become double minded and lose your confidence and your shirt

I agree 100% with Harolds last post. I was able to take 343 single pips last week using Harold's method. A couple of the trades I stayed with longer than the 30 pips because I was watching them. It is a great system once you focus on the entry and exit.
God's Love For You Is Sure Never You Doubt It
  • #2,820
  • Feb 19, 2008 12:00am Feb 19, 2008 12:00am
Quoting autaret
Thank you for your precise observation. You know ... when I traded on line that candle I marked a NO TRADE on it becouse emas didnt crossed that time but ... now coming back to my chart I see the cross so it's a validated trade.
The problem is: the emas cross make a bad joke to all us when it is not a decise and clear cross, sometimes just when the next candle start you see the cross not at the close of the last candle.
In other words, unfortunately what is clear on a backtest is less clear during the real trade ... just with experience you can take the better decision on line! Anyways, any contribute this discussion is welcome ...

p.s. the TP on GU is 30 (just GJ has 50)

ciao
yes, yesterday in real trading i was fooled by the arrows too. i jumped in a trade cause i saw long arrow next hour the arrow was gone and i thought i was a fool taken this trade. Then i found out how important it is to clear the chart before enter a trade.
thanks for the answer , i read the thread again from the start and there harold often mentioned the GJ as the only one with sl 50.
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