Trend Follower 5 Minute System

Quoting Nigel

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I was first introduce to Forex Trading a year ago and was taught to trade Daryl Guppy multiple moving averages on 10m charts. I had been demo testing GMMA for almost 8months and just started trading live recently.

I have to work on weekdays and most of the time I will not be able to trade, thus missing some good trades here and there. So i really liked the idea of trading with EA.

Well, I did some demo trading on the original system created by TheWicker himself. Indeed, it is a great system. It works extremely well in AUD/USD pair during EUR and US markets. On the other hand, I got stopped out most of the time on the other pairs like GPB/USD, USD/YEN. IMO, Placing a fixed 20-30pips S/L on these pairs would not work in long term.

Some suggestions,
Use fractals as a guide for S/L, placing S/L on recent LOW. I do not know if it works on 5min chart as i was doing rather ok with fractals on 10mins chart using Xtick.

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Quoting tadinda

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Nigel,

Can you please explain in simple and detailed language how you are using teh fractals please.

Thanks
Tadinda

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Quoting WilteredFire

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Thanks skyline for updating the EA with the lag options, thats great!

To tadinda and all other folks....

Im just thinking do you reckon the EA is worth running on 1minute charts?

I mean wont a 5minute chart provide a less noisy picture and maybe less false signals compared to a 1minute chart?

I've had Pmurfins EA running on my 5minute charts across roughly 13 pairs every trading day for the last 3 months, and it seems to give me good signals that follow shortly after signals given from another 2 systems I have running for my trades...

Can anybody shed any light or info or even experience as to whether the 1minute charts are viable for trading this system?

In my opinion i would have thought it would have more noise, more false signals and potentially less pips for us guys to take home with us as compared to trading the 5minute charts. Any Trend Followers who have a few months experience with this system like to comment or share any advice?

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Quoting Nigel

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My apologies. It seems that it could not work perfectly on a 5m chart. Too much noise.

Anyway, i will be testing this EA on 15m chart and if possible 1m chart too if my computer can take the workload.

Do you think we should use the same parameters/settings for every pairs in order to compare the results effectively at the end of the day?

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Quoting WilteredFire

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I have 3 copies of Meta Trader running on my pc, if i run all my pairs on the Trend Follower on the 1minute system, it seems to slow my pc down a fair bit to the point where my system freezes for a short while.

This is why i was mentioning earlier that Im happy to test out the EA with Adx Switched off or on on the 5minute charts, I also feel more confident watching the 5minute charts, after looking at them every day for 3 months you kind of get the hang of it and get a general idea of what to expect in a pair.

My understanding is, im sure the 1minute timeframe would work somehow with this system by tweaking some settings, but guys....the 1minute charts look all over the place with this system, I mean, i cant really seem to spot a clear trend easily on this chart or see where things seem to be going.

Personally, i would never have traded traded the 5minute charts without a strong system like this but i trade during london open till around london close, and especially in the morning during london open and just before, there are always quite often some good going on in the 5minute charts. My understanding seems to be that if we want to follow the Trend properly, removing noise and keeping things simple so we can see the real picture is important, this is the main issue i reckon with 1minute charts.

I read though that skyscraper said he had good results with the 1minute charts, Skyscraper....Thats great that even on a chart like this you've gotten good results, i'd be interested to see any of your demo trade results if you were able to share them so we can see?

Even though I use wickers 5minute system, i always check my signals on higher timeframes to see if im REALLY going with the real underlying trend or not. I trust wicker for the fact that this system was specifically designed for the 5minute charts, however im not completely sure wether the 1minute charts might bring in enough pips or not?

Dont get me wrong im not disagreeing here, but at the end of the day, we want to milk as much pips out of this thing as we can, without getting greedy and without getting stopped out too much. Anyway, i will post some of my conclusions about how we can use this system to exit in a little while

Tadinda i hope you understand my post. Particularly the last month of learning about other systems i've understood the important of following not just 1minute or 5minute chart trends, but following the real underlying trend. If somebody disagree's with me, im happy for any criticism or correction, im still a newbie Cheers

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Quoting WilteredFire

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I have 3 copies of Meta Trader running on my pc, if i run all my pairs on the Trend Follower on the 1minute system, it seems to slow my pc down a fair bit to the point where my system freezes for a short while.

This is why i was mentioning earlier that Im happy to test out the EA with Adx Switched off or on on the 5minute charts, I also feel more confident watching the 5minute charts, after looking at them every day for 3 months you kind of get the hang of it and get a general idea of what to expect in a pair.

My understanding is, im sure the 1minute timeframe would work somehow with this system by tweaking some settings, but guys....the 1minute charts look all over the place with this system, I mean, i cant really seem to spot a clear trend easily on this chart or see where things seem to be going.

Personally, i would never have traded traded the 5minute charts without a strong system like this but i trade during london open till around london close, and especially in the morning during london open and just before, there are always quite often some good going on in the 5minute charts. My understanding seems to be that if we want to follow the Trend properly, removing noise and keeping things simple so we can see the real picture is important, this is the main issue i reckon with 1minute charts.

I read though that skyscraper said he had good results with the 1minute charts, Skyscraper....Thats great that even on a chart like this you've gotten good results, i'd be interested to see any of your demo trade results if you were able to share them so we can see?

Even though I use wickers 5minute system, i always check my signals on higher timeframes to see if im REALLY going with the real underlying trend or not. I trust wicker for the fact that this system was specifically designed for the 5minute charts, however im not completely sure wether the 1minute charts might bring in enough pips or not?

Dont get me wrong im not disagreeing here, but at the end of the day, we want to milk as much pips out of this thing as we can, without getting greedy and without getting stopped out too much. Anyway, i will post some of my conclusions about how we can use this system to exit in a little while

Tadinda i hope you understand my post. Particularly the last month of learning about other systems i've understood the important of following not just 1minute or 5minute chart trends, but following the real underlying trend. If somebody disagree's with me, im happy for any criticism or correction, im still a newbie Cheers

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Quoting skyscraper

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I agree with you working on higher time frame.
Regarding my testing to 1 minute, It is still in test.. I have good number of success and some failure too. But I am not only interested on 1 minute time frame or 5 minute buy I am also interested to see the result on H1 and H4 time frame also.
Guys,

First lets short list the number of pairs. Do not do more than 5 pair by each person. We can

prepare two set of 5 pairs.

One set of 5 pair divide to three person and other set to other three person. That way we

can understand the pairs and do some forward and backward testing for next few weeks. Once

we understand the pair movement with the EA then we can set the exit points and time frame

also.

Everyone please think out of the box.. Meaning don't stick to M1 or M5 frame. You can do any

timeframe with any profit setting,stop loss but try to work on for couple of weeks. You have

your computer and the EA, play with it with all kind of settings. If you want to do back

test then please do it and make yourself comfortable to do time frame which suits you. We got to be consistent with any setting for alteast couple of weeks.

Forward testing, Please make some rules between the two groups regarding different time

frame and parameter settings and lets see how we do it.
Feel free to give us feedback, I will try to make the EA as efficient as possible. But I will need feedback from all of you

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Quoting tadinda

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Sorry Skyscraper,

We are all thinking along the same lines but getting our wires crossed.

Please see my last posts and check my suggestions of the Excel Sheet so taht we would be able to organise the testing as you require it.

Please let me have yoru thougths.

regards
Tadinda

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Quoting skyscraper

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I checked the spread sheet and it is perfectly what I was thinking. Please add three more columns for LegLentgh, ADX and Pips.
If it positive pips do +# and if it is loss then do -ve..

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Quoting tadinda

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Thank you Sky,

I will do as you say and make a fresh POst.

Besides your suggestions I will also add the 4 Hr Time Frame.

However please explain the PIps (+ or -) that you need as I do not understand it.

In the meantime I will also prepare something similar for forward testing.

Thanks
Tadinda

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Quoting skyscraper

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Pips (+or -) means hoe many pips made or lost on that settings.

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Quoting WilteredFire

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Thanks for the input Sky.

Is there any chance you could explain how to adjust the lot sizes from the EA trading 1.0 lots?

Would you be able to explain how to use the iTradeFactor setting with the noOfLots setting. I need to get my EA to trade 0.1 lots.

And your right, the money is definately in the higher timeframes, personally my trading style is intraday, I dont like carry trading or holding positions open over night and stuff, so 1hour timeframes would be the highest i would do a trade in although i check timeframes higher then 1hour.

Dont forget guys pmurfin was reporting good success with the 30minute Charts before he disappeared, signals are fewer then the 5minute charts, but you can pickup some good moves when you do get them.

Also, a while back I scanned 15minute charts for this system, often I would see good signals that seem to be flowing with the higher trends. So for me atleast, the 15minute timeframe is the next one to test with. But i think maybe it would be good to just the 5minute timeframe to get the best overall settings? Any opinions on this?

Sky if you could kindly explain how to change the lot sizes the EA trades that would be great. Thanks mate.

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Quoting tadinda

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Ok Guys,

Following the latest input from Skyscraper I have put together a fresh Excel Sheet.

This includes all the back tests that we need at the moment.

The tests span from 1 MIn to day Time Frame.

Anybody who is willing to undertake one or more of these back Tests please advise me so taht we do not have duplication of work.

Furthermore, please post your results in the colums provided within the Excel Sheet.

Finally, instead of having a million Excel Sheets flying all over the place, please update the one which is being atatched and post it. In this way it will be automatically updated by all of you and still available for everyone to see and maybe comment.

So people, before embarking on a test I suggest you will find the latest post with the updated excel sheet attached to ensure taht the test you would be running has not been completed by somebody else.

Thank you all for your patience and look forward to start seeing this excel sheet being completed by you.

Thanks a lot.

Tadinda

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Quoting skyscraper

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Tadinda,
Suggestion. Instead of keeping all time frame in one sheet can you create different worksheet for the different Timeframe within Backtesting.xls That way we can refer quickly to M1 or M5 or M15 etc..

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