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Trend Follower 5 Minute System

  • #1,421
  • Edited 2:48pm Feb 27, 2008 2:20pm | Edited 2:48pm
Quoting valdjas
A little question... To everyone using Trend Follower method.

How many trades you catch a week? A month? How many pips?

Last trade I catched was last thursday and I traded gold.
15 trades average per month. Sometimes more and sometimes a little bit less.
If you take only high probability trades then the number should be like I mentioned before but one could easily trade more. The question is that would it be sensible? I know that many TrendFallowers are using EA signals and confirm it with 1H trend. i guess it's OK as long as the trade is in the direction of 1H trend. I myself right now don't look 1H chart because I only take conservative trades.

As for pips I usually make around 200 pips per month. I have made 400pips and the worst month was 119pips.
But that's just me. My TP targets are R1 or S1 only and then I close my trade. I don't trade if price has moved away from those levels either.

I am thinking of trading multiple lots as when my first target is reached then I would move my SL to BE and target my second TP level R2, R3 etc.

I'm quite sure that 400 pips per month is easily doable if traded bit more aggressively and with trailing stops, multiple lots etc.

My trading time is also limited as I only trade from London open till 30min before US news. 5 hours total per day.
  • #1,422
  • Feb 27, 2008 3:32pm Feb 27, 2008 3:32pm
Shortly after london open, missed a signal for going short on the GbpChf, but i got in just under the daily support 1 line, and got out just when the price started nailing through the daily support 2, was a nice move down up until support 1, then it seemed to slow down a little. Was good never the less i think...

Made just over 40pips even though i got in late, great i think! Would have made probably about 70 odd pips if i had taken it earlier. My bad for waking up late i guess! Heres the chart. Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf_short.gif Size: 22 KB
  • #1,423
  • Feb 28, 2008 12:44pm Feb 28, 2008 12:44pm
Quoting MKK
15 trades average per month. Sometimes more and sometimes a little bit less.
If you take only high probability trades then the number should be like I mentioned before but one could easily trade more. The question is that would it be sensible? I know that many TrendFallowers are using EA signals and confirm it with 1H trend. i guess it's OK as long as the trade is in the direction of 1H trend. I myself right now don't look 1H chart because I only take conservative trades.

As for pips I usually make around 200 pips per month. I have made 400pips and the worst month was 119pips.
But that's just me. My TP targets are R1 or S1 only and then I close my trade. I don't trade if price has moved away from those levels either.

I am thinking of trading multiple lots as when my first target is reached then I would move my SL to BE and target my second TP level R2, R3 etc.

I'm quite sure that 400 pips per month is easily doable if traded bit more aggressively and with trailing stops, multiple lots etc.

My trading time is also limited as I only trade from London open till 30min before US news. 5 hours total per day.
Hi MKK,

What actual hit rate are you realising and over how long have you been trading this system?

Also are you saying that you only take trades that occur between the Daily S1 and Daily R1?

The Wicker, thanks for a very well thought through system!

Cheers
  • #1,424
  • Feb 28, 2008 1:17pm Feb 28, 2008 1:17pm
Quoting Bazuka77
Hi MKK,

What actual hit rate are you realising and over how long have you been trading this system?

Also are you saying that you only take trades that occur between the Daily S1 and Daily R1?

The Wicker, thanks for a very well thought through system!

Cheers
I've been trading this system from the beginning of September 2007, so almost 5 months. I don't watch D_S1 or D_R1 lines but those S1 and R1 lines (Support1 etc). These are the fragmentary lines.

The pips I was talking about are without including spread.
  • #1,425
  • Feb 28, 2008 2:24pm Feb 28, 2008 2:24pm
Thanks MKK for your reply
  • #1,426
  • Feb 28, 2008 4:16pm Feb 28, 2008 4:16pm
I know the guppy wasn't too compressed at the time of the following EurUsd long signal i've posted below, in the screenshot, the signal area looks compressed as the trade progressed, guppy looked ugly at the beginning of the signal though...

I checked the signal on the 15minute and 30minute timeframes and noticed something interesting about the Laguerre lately, i think i missed out by taking this trade. Again, some might not agree as a proper signal if you watched the guppy and price action before the signal on the EurUsd today...But heres the screenshot, looks good enough to make for a 50+ pip move.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_long.gif Size: 20 KB
  • #1,427
  • Feb 28, 2008 4:33pm Feb 28, 2008 4:33pm
Right, heres another chart i have for the UsdChf, if you look at an hourly chart, for the last 3 sessions, including todays session, its been falling down nicely for the past 3 days....

On the 1hour chart, you can actually see a short signal with the laguerre crossing down nicely from the 0.85 mark, and if you look at the 1hour chart for the UsdChf for past 3 sessions, you can see that the downtrend was so nice that the Laguerre stayed floored to the 0point for the past 3 sessions and didn't cross over the 0.15 mark? Anybody notice this?

So really, if you were checking multiple time frames and keeping a close eye, you would have had 3 nice usdchf short trades for the past 3 sessions if that makes any sense? I hope im not confusing anybody here and that somebody finds this useful? I've posted my short signal i got on the 1hour chart for the UsdChf from 3sessions back...I somehow see more potential in this system to pickup more then just a few hundred pips a month, wasn't this a few hundred pip move in this downtrend itself? Look how the laguerre is staying floored below the 0.15 mark and doesn't really lift up at ALL from the 0 point until a little later in todays session? Im seeing more and more possibilitys and flexibilitys to trade this system day after day. Thanks once again wicker, this systems teaching me how to trade better even though im a complete noob!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf_short.gif Size: 18 KB
Click to Enlarge Name: usdchf_short2.gif Size: 22 KB
  • #1,428
  • Feb 29, 2008 10:13am Feb 29, 2008 10:13am
i want to ask about the EMA crossover signal . I assume that is was crossover of 2 moving averages? can tell me the period as well as applid to close etc?
  • #1,429
  • Mar 1, 2008 4:07am Mar 1, 2008 4:07am
Quoting WilteredFire
On the 1hour chart, you can actually see a short signal with the laguerre crossing down nicely from the 0.85 mark, and if you look at the 1hour chart for the UsdChf for past 3 sessions, you can see that the downtrend was so nice that the Laguerre stayed floored to the 0point for the past 3 sessions and didn't cross over the 0.15 mark? Anybody notice this?

So really, if you were checking multiple time frames and keeping a close eye, you would have had 3 nice usdchf short trades for the past 3 sessions if that makes any sense? I hope im not confusing anybody here and that somebody finds this useful? I've posted my short signal i got on the 1hour chart for the UsdChf from 3sessions back...I somehow see more potential in this system to pickup more then just a few hundred pips a month, wasn't this a few hundred pip move in this downtrend itself? Look how the laguerre is staying floored below the 0.15 mark and doesn't really lift up at ALL from the 0 point until a little later in todays session? Im seeing more and more possibilitys and flexibilitys to trade this system day after day. Thanks once again wicker, this systems teaching me how to trade better even though im a complete noob!
You are right, WilteredFire, monitoring multiple TFs for the same pair does give you a better chance of catching more (valid) signals. I guess it's like watching the for the rain - if you can only see part of it, you know it's gonna rain when the clouds hit you; if you can observe the sky through 360 degrees, you can see it coming beforehand...

Some time ago, I came across an indicator that monitored Laguerre for several TFs yet could be displayed on a single TF, i.e. it can show you Laguerres for, say, M5, M30 and H1 within one single indicator on, say, M5.

The dillemma is - if you see the "stars aligning" on, say, H1 do you still trade using M5 or M30? On the one hand M5 gives you a better feel of the market moves, on the other hand you run into the risk of getting out too early. H1 allows you to see a bigger picture, but then nobody can tell whether a 40 pip move in the wrong direction is just a temp retraction or a trend reversal...
One Chart is Worth Ten Thousand Words.
  • #1,430
  • Mar 2, 2008 4:41pm Mar 2, 2008 4:41pm
been looking at different timeframes today, spent the whole weekend researching back into the system, and i think i've found my sweetspot for the right timeframes now...

Real damn excited for trading tomorrow and for the rest of the week. WIsh all the trend followers a great trading week, and i hope you all make some pips!

Forex007, ive just realised this past week how powerful the Laguerre really is, specially on higher timeframes, 5minute timeframe its still quite accurate if you know what to look for, but the higher timeframes its excellent i reckon.

I've never seen the guppy rainbow looking so beautiful on the higher timeframes, and its more solid then the 5minute TF too, cant wait to see how many pips this trading week will bring!

Timex if your reading this my friend, I hope your ready to make some pips, I know you always have great trades!
  • #1,431
  • Mar 2, 2008 4:58pm Mar 2, 2008 4:58pm
Hi WF,

What timeframes are these?

Pardy
  • #1,432
  • Mar 3, 2008 2:38am Mar 3, 2008 2:38am
im using the standard 5minute TF, but i've got another platform open which runs the 30minute on all my pairs for the wicker system with the ea.

i also every so often browse and check the 1hour charts and 1hour charts just to see a bigger picture of whats happening.
  • #1,433
  • Mar 3, 2008 11:55am Mar 3, 2008 11:55am
Hi,

Thanks for a nice system
I trade using this system and it works.

Is anybody using this system with auto-trade ?
If yes which are you using ?
  • #1,434
  • Mar 3, 2008 12:14pm Mar 3, 2008 12:14pm
Hi WilteredFire,

The pivot points (fib and multi timeframe) for stops and exits work well on the 5min TF, and are used by The Wicker himself on that timeframe.

What stops and targets are you using/ planning to use on the 30 min TF?

Thanks
  • #1,435
  • Mar 3, 2008 3:52pm Mar 3, 2008 3:52pm
hi Bazuka,

at the moment i just use pivot points, and the major support and resistance levels to determine where to stop/exit

One other way im trying to use is for example...

Say if your in a downtrend and the laguerre is nice and flat in the 30min tf, if the downtrend is strong the laguerre will be flat at the 0 point, and you wont be able to see it lift up at all if its strong, when the laguerre on the 30min starts to lift up, and manages to break thru the 0.15point heading upwards, that would be good to exit in my opinion.

Opposite is true for an uptrend where the laguerre sticks to the top nicely in a strong uptrend, but when it starts to break down below the 0.85 point, that might be a good time to exit. Im still working on it, but i think it makes sense so far. I think a combination of this and the pivot point and major resistance/support levels make great exits.

Im still learning, im still a newbie so please somebody correct me if this is wrong. Thanks!
  • #1,436
  • Mar 4, 2008 12:02am Mar 4, 2008 12:02am
Quoting WilteredFire
hi Bazuka,

at the moment i just use pivot points, and the major support and resistance levels to determine where to stop/exit

One other way im trying to use is for example...

Say if your in a downtrend and the laguerre is nice and flat in the 30min tf, if the downtrend is strong the laguerre will be flat at the 0 point, and you wont be able to see it lift up at all if its strong, when the laguerre on the 30min starts to lift up, and manages to break thru the 0.15point heading upwards, that would be good to exit in my opinion.

Opposite is true for an uptrend where the laguerre sticks to the top nicely in a strong uptrend, but when it starts to break down below the 0.85 point, that might be a good time to exit. Im still working on it, but i think it makes sense so far. I think a combination of this and the pivot point and major resistance/support levels make great exits.

Im still learning, im still a newbie so please somebody correct me if this is wrong. Thanks!
Your laquerre tip makes sense. Thanks for that.
  • #1,437
  • Mar 4, 2008 6:22am Mar 4, 2008 6:22am
on audcad my first trade @11:57 short resulted in a loss. i used the EA to giove the warning and it looked ok to me. comments please as this looks to good a system not to continue with. my fault is I am always in onm the wrong side of the trade, as my son will testify. I though I might get this one correct. Its not just a small move but a proper wack on the head. Thanks
  • #1,438
  • Mar 4, 2008 8:22am Mar 4, 2008 8:22am
Hi folks,

I need some advise. I took a trade at the vertical line and was hit with a SL. May I know whether is this a valid trade? Thanks

http://i8.photobucket.com/albums/a36/joschia/GU.jpg
  • #1,439
  • Mar 6, 2008 1:02pm Mar 6, 2008 1:02pm
Quoting joschia
Hi folks,

I need some advise. I took a trade at the vertical line and was hit with a SL. May I know whether is this a valid trade? Thanks

http://i8.photobucket.com/albums/a36/joschia/GU.jpg
Was there any news announcement? I cannot check as I don't knwo what time zone you are in.
One Chart is Worth Ten Thousand Words.
  • #1,440
  • Mar 7, 2008 5:58am Mar 7, 2008 5:58am
I checked, at that time what it hits my SL, Fed Chairman Bernanke Speaks. Does it matter? Thanks for your advise.
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