PowerSwing System For Long term trading

I'm not sure how backtesting would look since you have a couple of indicators that repaint plus there there are times you'd exit trades early depending what the chart is telling you (fib retracements, pivotal murrey levels reached, and so forth). You'd probably have to manually backtest it.

Interesting system. Hope will have a chance to demo it Thanks for sharing on the forum.

not a problem guys, I try to give back a little to the all the people who helped me get started trading.

Hi everybody... Thank you mer071898 for posting a long term system seems to work pretty well... I have a few questions though. First of all how long have you been trading the system and what can you say about overall success. Secondly what is your favourite pairs for this system and do you prefer trade daily or weekly? Lastly, what money management do you use? Thank you again for sharing what you got for your trading. By the way, do you have any other succesfull systems you can share with us. and if you do not mind can you give us the signals you see for this system to learn and have a kind of live trading group. Because I truly believe things get better when we share.

Nurettin

hi mer..
thanks for sharing your system!
definitely will put on test!

Can u suggest other indicators to filter instead of SolarWind??
SW is big-time repaint indi..

not good for historical view!

pid

nuriksari, I've been trading this for about 1 1/2 years now with about an 80-85% success rate mainly because of the strict entry criteria I employ. I don't get to trade very often but the rewards are better in the long run.

With regards to daily or weekly trading, I trade a little of both but prefer daily. On weekly trading I use smaller lots as to keep the drawdown in control due to a higher stoploss than the daily trades.

I don't have a favorite pair although pairs with a higher volatility work great plus I like the pairs with the huge swap rates like Gbp/Yen, Try/Jpy, Eur/Try, and Usd/Try. I liked using the Auslanco Gbp/Jpy strategy when I was trading smaller time frames and still occasionally do if I catch it at the right time.

Money management is the key to all trading in my opinion. I see too many people trying to get rich as quick as possible trading 10-15% of their account every trade only to get blown out of the water or margin called. I never trade more than 1-2% of my account as I stated in post #19. A little formula I use is this:

(size of account) X (% of acct. traded)/ average stoploss/ 10

For example, using a 100k account with 2% per trade with a average stop of 200 would equate to trading 1 lot per trade.

10,000 X 2% = 2000 divided by 200 = 10 divided by 10 = 1 lot

And every month I recalculate what my lot size will be for each trade during that month, that is how you grow your account.

What I have in store here is I plan, starting in a few weeks, is to analyze 22 pairs and announce my entries so every one can see how this works. It's so easy to put up charts showing where a trade should be entered after the fact but I would like to do it live showing charts with actual entry points to truly show that this works. I want to give a couple of weeks for everyone to grasp the concept before I do this.

popisdead, welcome to the thread. I fully understand your concern with the repainting issue, higher timeframes though aren't as drastic of a change as using it on a 15 minute chart for example and when you add the .3 and -.3 levels it gives you kind of a buffer to act as your filter. People say the Fischer indicators react pretty similar and are not supposed to repaint but I haven't tried it out with this system. Trying to backtest it with repainting indicators is pretty worthless so I wouldn't waste my time trying, I already have. Feel free to add or subtract whatever indicators you'd like on the system because that's the beauty of being on the forum is there are always improvements to be tested or different variations that can be derived from it.

Just a quick update, these are the pairs I will analyze over the weekend and have available for everyone on Monday. There is also a link for the ODL MT4 setup for those who would like to follow whatever particular pairs they choose. I will provide an account# and password for those who would like to physically see the progress when everything is setup.

Eur/Usd
Gbp/Usd
Aud/Usd
Nzd/Usd
Usd/Chf
Eur/Chf
Nzd/Chf
Gbp/Chf
Usd/Jpy
Eur/Jpy
Aud/Jpy
Nzd/Jpy
Chf/Jpy
Cad/Jpy
Gbp/Jpy
Try/Jpy
Usd/Try
Eur/Try
Eur/Aud
Eur/Gbp
Aud/Cad
Usd/Cad

ODL Mt4 Download

http://www.metaquotes.net/files/odl/mt4setup.exe

LEARN OZFX IN MALAY?.....HTTP ERROR......!

sorry don't quite understand your question???

Please forward your username and pw, so that I can follow your trade.

Thanks

Just want to send my thanks for sharing your system, I can't wait to test it out. Oh and thanks for the live trades, it's always helpful in learning a system to it fullest.

Mitch

Once we have a direction, we look for the Laguerre, Stoch, and Trend Power to breach their respective levels roughly around the same time in the same direction.

Can you please explain the breaching of the appropriate levels for each of the three indicators about. (noobie question)

Thanks
Mitch

Well for Laguerre (blue line), it must be above 85 or below 15 first, then must cross down through the 85 or up thru the 15. Same with the Stoch (red line), must be above 80 or below 20 then cross up or down thru those levels. TrendPower must be above or below 50, then cross up or down like the others, again depending if a short or a long (see pic). The indicators will usually be close to crossing around the same time (mostly within 1-6 bars), but when they all line up at the same time, especially if it's around an extremely oversold or overbought area, that is the golden trade. sometimes when these indicators just come up and just touch the levels you can count that as a cross (see pic).

I know there is a lot of criteria to be met so feel free to ask as many questions that you need if there is any confusion and stayed tuned for Monday.

fx4gain, I will be posting the acct.# and password on Monday the 14th when I have all the pairs analyzed and ready so I don't have to post it numerous times, so check back Monday, thanks for following along.

Just wanted to post a pic on why the ZigZag can't be trusted by using it for entry criteria. that's why we use the Laguerre, Stoch, and TrendPower as primary indicators and ZigZag and Solar wind as the filters. If you want to see how the ZigZag progresses as price changes use the ZigZag V.2 that TimeFreedom has in post# 10. It will show an arrow in gold every time it moves. I personally don't use because i don't like a cluttered screen but it might help someone new who doesn't fully understand its movement. We should be keeping an eye out for a possible signal over the next several days as we are now showing a triple top at an overshoot Murrey level (+1/8). This should be a good one here.

take a short against zigzag?????......so for your system must against or follow zigzag????

B@by trader, I just used that particular trade as an example for entry criteria. Generally I try to take the trades in the same direction the ZigZag pointer tells me. If red, I try to only take shorts, visa-versa if blue. After I determine what direction the pointer is giving me I have a swap rate chart I drew up that tells me if that pair will have positive swap trades in that direction and that is where my focus is aimed at, positive swap trades.

If you do have a great setup with a negative swap trade, make sure it's on pairs like Eur/Usd, Usd/Chf, Usd/Cad, or any other pair with a lower negative swap rate. In MT4, you can check to see if the long or short has + or - swap by clicking the market watch tab- right click and select symbols- click on any pair and hit properties and it will tell you the swap rates. If you look at pic #1 below that I posted before for example, if this pair would've had positive swap, I'd been in it in a heartbeat!

I'm not saying you can't take trades against the ZigZag like in that example, just make sure everything lines up for the trade. If we look at that example again in the second pic, every indicator lines up for us which tell us we can enter the trade, but we need to be cautious as this trade hit some serious resistance and we exited the trade early.

your template didnt work on me.........Please resend it..........

I double checked and I have the correct template in post #1, remember to place all the indicators in the indicator folder. I do not use the updated MTP 1.8 EA and ZigZag_pointerV.2 in post # 9 & 10 in my template. If it doesn't work just set up the chart by hand as in post #1 and save the template on your platform.

thanks I did it......I wonder what major pairs now almost give signal for entry?
and just asking your opinion will GJ go to 204.00 again....in next week?

Like I said before I will be analyzing that pair and 21 others over the weekend and posting on Monday. Just check back then.

On a side note, I appreciate the questions, but everyone please make sure you read over the whole thread as the majority of the questions people repeatedly ask have already been posted or answered, thanks.