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Gamblers 5 and 15 minute trading system

  • #101
  • Mar 20, 2008 4:35am Mar 20, 2008 4:35am
Quoting Tjpld
Does anyone has that Candle Countdown Indicator that says 13:20 minutes to candle close?

Turning this into an EA would require a decent Stop Loss and Exit Strategy.
And I'm afraid it would take just every signal even contiuation patterns.
Check in my sign, this indi is in my bundle
  • #102
  • Mar 20, 2008 4:38am Mar 20, 2008 4:38am
Thanks buddy.
This system netted 70 pips on both EUR/USD and GBP/USD with multiple good reentry signals. I feel alot more save with my rules and MA setup.
Going to call it a day now.

Clansman do you have any rules or MAs for trend indication on 4H?
Trading the 4H is interessting since you have to check for signals only every 4 hours.
  • #103
  • Mar 21, 2008 8:58pm Mar 21, 2008 8:58pm
Well done, Gambler!
Your trigger is a superb tool for finding turning points with a bit of oomph behind them. I do agree that it can't be traded in isolation(but what can?)
Whilst using it in confluence with a reliable trend indicator it has provided me with a steady flow of pips for the couple of weeks and with very little drawdown.
It will provide valid entries for many set-up methods.
It does require discretion(but what doesn't) and it does require volatility(but all momentum triggers do)
I use MTF but it can work fine without it. I use pip targets but it provides enough really big moves to support a trailing stop approach as well.
It's really put the zest back into my trading and I'm very grateful.
Thanks very much and best of luck to you and all the contributors on this thread.
It deserves to be recognized as a classic.



Ken
  • #104
  • Mar 22, 2008 5:50am Mar 22, 2008 5:50am
Quoting grillbritt
Hi gambler!

I tried to develop a system similar to yours a couple of months ago, but on the daily and 4H timeframes.

I backtested different currencies for year 07 and 06. Some months were really nice and some were disaster. When the prices goes into sideways action, my demo bankaccount really dived . I started to look for different filters and tried all kinds of SL and TP, but couldn't really find the ultimate ratio.

Then my mind really asked me, wtf are you doing? Why complicate things? So I went back to what works for me, priceaction around obvious support and resistance lines.

But I really wish you good look with your system, and I'm going to be lurking in this thread to see your progress.

Dennis

nice post, brother
  • #105
  • Mar 24, 2008 11:27am Mar 24, 2008 11:27am
Dear Mr. Steinitz,
Thank your for your wining strategy. I use the five minute chart for entries and exits as I live in Southern California and am actively trading during the US forex market (5-8AM). I have made a total of 285 pips in three trades and a break-even on one trade.
My only issue, thus far (and being quite new to your system), is I become so excited after a 20 pip gain, that I exit far too soon. Today, trading the U/J and E/J, I could have made an additional 428 pips; instead, I made 43 pips on 30 minis.
Truly, this is not a complaint. I realize that if I waited for the 8 EMA to flatten and start moving toward the 21 EMA, I would have had an extremely grand day.
As far as stops go, I have been adjusting stop losses to break-even after a 20 pip gain. That maybe too small for the E/J pair (perhaps 30 pips is better with the latter). What are your thoughts on the aforementioned?
Also, if you lived on the West Coast, when would you trade using your system on the 15 minute chart? Thank you, once again.
Good pipping to you.
Judy
  • #106
  • Mar 27, 2008 5:31am Mar 27, 2008 5:31am
Quoting Tjpld
Clansman do you have any rules or MAs for trend indication on 4H?
Trading the 4H is interessting since you have to check for signals only every 4 hours.
I use two charts, a 4H and a 5M. Using the 4H chart, I follow Gambler180's rules for entry. After I have made an entry, I switch to the 5M chart to monitor the strength and direction of the trend. I also use pivot points to aid in determining S/R. If there is any question on the trend, I will switch to a 4H chart with Lever70's Cornflower ma's on it (10, 15, 30, and 90 ema's.) I also have an Hourly chart with the standard Cornflower ma's (8, 12, 24, and 72 ema's.)

I have a 5 EMA set on close and an 8 EMA set on open on both charts. The forward testing revealed a crossover on the 4H chart helps to eliminate a false entry (on my charts, the crossover happens as the new candle appears.) A crossover on the 5M chart is an indication that the trend may be reversing. I tighten the stop when a crossover happens on the 5M.
  • #107
  • Mar 27, 2008 6:00pm Mar 27, 2008 6:00pm
I tried the strategy this monday. So far it looks very interesting. I managed to get around 400 pips.

I traded on 15 min chart.
Attached Image (click to enlarge)
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  • #108
  • Mar 28, 2008 5:09am Mar 28, 2008 5:09am
@Clansman
Thanks. I'll take a look at it.

@francois443
Look like you're using VTTrader just as me. Usally I have my indicators on MT4 and enter the signals on VTTrader. But for this system everything is available for VTTrader.

@Topic

My newest System looks like this.
Add Awesome Oscilattor and Accelerator Oscillator.
Both have to be the same color to confirm the trade.
And my previous rules also apply. I'd like the bar to open on the other side of the T3. There is a signal on my example which would have been fine but the next was more secure.
Seems to work best on GBP/JPY M15. I just set a 50 Pips PT and SL. So I need only 51% hitrate to be profitable which this system does with ease.
Still have to test a bit.

http://img86.imageshack.us/img86/7605/aogf9.jpg
  • #109
  • Apr 5, 2008 12:00am Apr 5, 2008 12:00am
I like how simple and straight forward this system is. Thanks for sharing Gambler!

I like your set up Tjpld. The addition of those oscillators is a perfect way to filter out bad trades! I've been very impressed with the results of visually back testing this strategy. I'm excited to forward test this next week!
  • #110
  • Apr 5, 2008 1:33am Apr 5, 2008 1:33am
Quoting francois443
I tried the strategy this monday. So far it looks very interesting. I managed to get around 400 pips.

I traded on 15 min chart.
400pips in 1 day, crazy stuff dude. Well done.
  • #111
  • Apr 5, 2008 5:23am Apr 5, 2008 5:23am
Quoting ourboss
I like how simple and straight forward this system is. Thanks for sharing Gambler!

I like your set up Tjpld. The addition of those oscillators is a perfect way to filter out bad trades! I've been very impressed with the results of visually back testing this strategy. I'm excited to forward test this next week!
There are dozens of ways to determin the overall trend.
What I'm testing out right now is looking for a 5WMA/20WMA cross on the next higher timeframe (M30) and take this as the trend works great too.
You could also experiment with the QQE.

If the T3 is a little bit too slow for your taste you could substitute it with a Bolliger Bands 10 Period. The Median Line is almost the same.
You can take the open on the other side of the median line as a confirmation signal.

For now I only trade the GBP/JPY M15 with it.
Simply because I'm more confident that I'll get at least 50 Pips if not 200 and 50 Pips is also my stoploss so I have atleast 1:1 Ratio.
When trading the EUR/USD you'd often have to take profit after 10-15 Pips. But your SL is greater so your Risk/Reward is not worth trading it.

Will keep on testing new things.

@francoise
Really great trading.
Somehow I limit myself to one trader per day on the GBP/JPY aiming for 50 Pips at least.
Stress free trading.
  • #112
  • Apr 6, 2008 4:56pm Apr 6, 2008 4:56pm
"There are dozens of ways to determin the overall trend.
What I'm testing out right now is looking for a 5WMA/20WMA cross on the next higher timeframe (M30) and take this as the trend works great too."


What is the 5WMA/20WMA?? I don't list that under my metatrader platform..is it custom? Appreciate your posts...I have been playing around with the ao/ac and the qqe with other systems and your mention of them caught my attention!
  • #113
  • Apr 6, 2008 5:07pm Apr 6, 2008 5:07pm
Buy when a candle close above the last down bar in a downtrend
Sell when a candle close below the last up bar in an uptrend

Hi Gambler, thanks to share your simple great system ! Just a question, when you said, buy in a downtrend and sell in a uptrend , do you mean the 5m or 15m trend ? Because in the other post you said not in main trend !

Thanks

Luk
  • #114
  • Apr 7, 2008 1:49am Apr 7, 2008 1:49am
Quoting 4xplosion
"There are dozens of ways to determin the overall trend.
What I'm testing out right now is looking for a 5WMA/20WMA cross on the next higher timeframe (M30) and take this as the trend works great too."


What is the 5WMA/20WMA?? I don't list that under my metatrader platform..is it custom? Appreciate your posts...I have been playing around with the ao/ac and the qqe with other systems and your mention of them caught my attention!
WMA= Weigthed Moving Average

Just create a standard MA and set the Method to linear Weighted and Price = close.
  • #115
  • Apr 7, 2008 2:58am Apr 7, 2008 2:58am
Quoting Tjpld
If the T3 is a little bit too slow for your taste you could substitute it with a Bolliger Bands 10 Period. The Median Line is almost the same.
You can take the open on the other side of the median line as a confirmation signal.
The median line in bollinger bands is a simple moving average on price. If you only use the median line then there is no need to use bollinger bands , a ten period simple moving average is the same thing. However, the filter seems to miss as many good trades as the bad ones it filtered out testing on EUR/USD. I think Ill take a look GBP/JPY on your reccomendation and see if it works any better
BTC Return This Year: na
  • #116
  • Apr 14, 2008 4:01pm Apr 14, 2008 4:01pm
I have started to use my system on the daily chart and so far it seems to work great. In this week I have earned about 2.5 percent and I'm trading with about 1 percent of my money in each trade.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #117
  • Apr 14, 2008 5:34pm Apr 14, 2008 5:34pm
Quoting Gambler180
I have started to use my system on the daily chart and so far it seems to work great. In this week I have earned about 2.5 percent and I'm trading with about 1 percent of my money in each trade.

Gambler, have you set any particular targets/stop losses with those trades, what pairs do you find yourself trading?
  • #118
  • Apr 14, 2008 10:03pm Apr 14, 2008 10:03pm
There is a definite validity to this type of system but it may help if you enter X pips below or above the indicating bar. This will help to avoid false moves that are frequent particularly in the Japanese pairs. I would suggest 10 to 15 pips on the 15 min chart and more on the 4h.

good luck

Max
Gravity goes both ways in forex...
  • #119
  • Apr 15, 2008 5:00am Apr 15, 2008 5:00am
Quoting 4xplosion
Gambler, have you set any particular targets/stop losses with those trades, what pairs do you find yourself trading?
I trade all 17 pairs at marketiva. I'm not using any stop loss or target. I just check once a day and close the profitable orders. If there is both profitable and not profitable trades but there is more profit than loss I will some times close all orders for a combined profit.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #120
  • Apr 15, 2008 10:41am Apr 15, 2008 10:41am
Quoting Gambler180
I trade all 17 pairs at marketiva. I'm not using any stop loss or target. I just check once a day and close the profitable orders. If there is both profitable and not profitable trades but there is more profit than loss I will some times close all orders for a combined profit.

"G" that's not a trading system...that's called an ATM!!!
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