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A Basic Trading System (BTS)

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  • #241
  • Mar 3, 2008 9:37pm Mar 3, 2008 9:37pm
Quoting Akalra
Hello rsbgm,

Thanks for your answer. I got it now. Just wanted to clear up confusion.

BTW, I like your indicator showing tp levels. Did you customize for this stretegy? Could you tell me where to get it?


Thanks

akalra
Those are just horizontal lines and text labels created at MT4... both can be found under the 'Insert" menu of MT4...
  • #242
  • Mar 4, 2008 12:54am Mar 4, 2008 12:54am
Quoting Repipula
okay, we'll see how I'm doing here. I identified a divergence on the daily chart which says to me that there is a long bias for gbp/jpy at the moment. on the hourly I saw a correction and entered on the break of the set up bar. my entry is the green line, my stop is the red, and tp1 and tp2 are the take profit levels.

at the moment we're +20 pips...
A nice trade there Repipula. Way to go...
  • #243
  • Mar 4, 2008 4:32pm Mar 4, 2008 4:32pm
is this a dying thread too
  • #244
  • Edited Mar 5, 2008 12:25pm Mar 4, 2008 5:26pm | Edited Mar 5, 2008 12:25pm
1:1 = ~60 PIPS (1 HOUR CHART)

http://img442.imageshack.us/img442/879/gyfn9.jpg
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #245
  • Mar 4, 2008 7:40pm Mar 4, 2008 7:40pm
How far down the time increments have you found this to work well?

Great stuff by the way, been testing it for a few days with good results, I've stuck to he 4HR.
  • #246
  • Mar 5, 2008 12:19pm Mar 5, 2008 12:19pm
CLOSED
--------

GBP/USD (Trade #1):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

GBP/JPY (Trade #2):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

AUD/JPY (Trade #3):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

GBP/USD (Trade #4):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

USD/CHF (Trade #5):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

GBP/JPY (Trade #6):
Multiple Lots: +1.0%, +1.0%
Singular Lots: +2.0%

USD/CHF (Trade #7):
Multiple Lots: -0.5%, -0.5%
Singular Lots: -1.0%

EUR/USD (Trade #8):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

USD/CHF (Trade #9):
Multiple Lots: -1.0%, -1.0%
Singular Lots: -2.0%

GBP/USD (Trade #10):
Multiple Lots: -1.0%, -1.0%
Singular Lots: -2.0%

GBP/USD (Trade #11):
Multiple Lots: +5.0%, +5.0%
Singular Lots: +10.0%

GBP/USD (Trade #12):
Multiple Lots: -1.0%, -1.0%
Singular Lots: -2.0%

GBP/JPY (Trade #13):
Multiple Lots: -1.0%, -1.0%
Singular Lots: -2.0%

GBP/USD (Trade #14):
Multiple Lots: +0.50%,+0.0%
Singular Lots: +0.5%

GBP/JPY (Trade #15):
Multiple Lots: -0.50%, -0.50%
Singular Lots: -1.0%

GBP/JPY (Trade #16):
Multiple Lots: +1.0%, +0.0%
Singular Lots: +2.0%

GAIN / STATS
---------------
Multiple Lots: +9.5%
Singular Lots: +16.5%

Risk: 2% / Trade
Win / Loss Ratio: 10:6
Days Traded: 10
Average Gain: 1.65% / Day
Average Trades: 1.6 Trades / Day
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #247
  • Mar 5, 2008 12:20pm Mar 5, 2008 12:20pm
The trade will be executed based on the Monthly time frame.

The SL is chosen technically based on the Daily.

Regards.
FE

http://img516.imageshack.us/img516/5831/gbkm4.jpg
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #248
  • Mar 5, 2008 12:28pm Mar 5, 2008 12:28pm
Quoting Mantorp
How far down the time increments have you found this to work well?

Great stuff by the way, been testing it for a few days with good results, I've stuck to he 4HR.
It is an hourly chart.

I would not recommend trading lower than H1 unless you can react very quickly and trade a low spread pair.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #249
  • Mar 5, 2008 1:04pm Mar 5, 2008 1:04pm
Wait for GBP/JPY to retrace close to or into this area before setting up for longs.

http://img101.imageshack.us/img101/202/gyxu5.jpg
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #250
  • Mar 5, 2008 3:03pm Mar 5, 2008 3:03pm
The EURJPY is in a nice upward channel. Here is a trade I entered yesterday of the H4. After a bit of consolidation price hit the support and bounced of it (the 16-20 H4-candle) for the 2nd time in 2 days I entered at 157.03 with S/L just below the candle and support at 155.97 (just below the round number as well). First TP hit at 158.09, and I've moved the S/L for the secong position to just below todays 16-20 H4-candle at 158.15.

This trade could have been made on the D1 chart as well. Here you can see there's a clear divergence as well which really confirms this trade.

So that trade is at least up 2% thanks to Effi.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej d1.gif Size: 25 KB
Click to Enlarge Name: ej h4.gif Size: 23 KB
  • #251
  • Mar 5, 2008 3:47pm Mar 5, 2008 3:47pm
nice ...trading system..
  • #252
  • Mar 5, 2008 4:47pm Mar 5, 2008 4:47pm
Good analysis NowAndLater,

Thanx for contributing and thank you for your support.

Your presence is welcome

Best Regard,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #253
  • Mar 5, 2008 11:32pm Mar 5, 2008 11:32pm
Very impressive system, Effi. Keep up the great work!

  • #254
  • Edited 6:59am Mar 6, 2008 6:37am | Edited 6:59am
GBP/JPY finally retraced into the support area as per post #249; we are taking the first long available as Trade #18.

Trade #17 GBP/USD has also triggered.

http://img521.imageshack.us/img521/1305/gyvi7.jpg
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #255
  • Mar 6, 2008 6:45am Mar 6, 2008 6:45am
Trade #17: 2.0800
Trade #18: 213.00

PS: Thank you Pips_Cruiser
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #256
  • Mar 6, 2008 7:06am Mar 6, 2008 7:06am
anyone,

doesn't GBPCHF meet the criteria for long?
  • #257
  • Mar 6, 2008 7:06am Mar 6, 2008 7:06am
Quoting fsiltd
I think the blue is the better of the entries.
From a technical point of view, i understand why you would have preferably picked the Blue line for entries as all others after it maintained a movement within the formers body. Looked at on a lower time frame this would be a consolidation, hence trading on the extreme high would be the smartest thing to do in order to enter on the consolidating break out.

I think however the question was system based, in which case the Red line would be the one used for entry as it were it's candle that last retraced to the EMA.

Regards,
E. Lang

REFERENCE: Post #229
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #258
  • Mar 6, 2008 7:08am Mar 6, 2008 7:08am
Quoting watchout4me
anyone,

doesn't GBPCHF meet the criteria for long?
Try again - with time frames. (It does on the Daily)
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #259
  • Mar 6, 2008 7:19am Mar 6, 2008 7:19am
One question Effi: which pairs do you follow? I see that most of the trades have been on GBPUSD and GBPJPY, but do you look at some of the minor pairs?
  • #260
  • Mar 6, 2008 7:22am Mar 6, 2008 7:22am
Generally EUR/USD, GBP/JPY, GBP/USD, USD/CHF

But if i see a good setup on any other pair i won't pass it on.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
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