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Gamblers 5 and 15 minute trading system

  • #181
  • May 8, 2008 8:36am May 8, 2008 8:36am
THIS STRATEGY BE FORMIDABILE !!!!!!

CONGRATULATIONS GAMBLERS 180!!!

EAGLES
  • #182
  • May 10, 2008 8:41am May 10, 2008 8:41am
Quoting Gambler180
It looks this system can also be trade profitably for the following commodities and indexes. gold, silver, palladium, platinum, DAX, Dow Jones, FTSE 100, Nasdaq 100, S&P 500. Does anyone know what the 100 and 500 numbers mean.
the numbers refer to the number of equities that make up the index.for example the S&P 500 is an index made up of 500 seperate companies. each of these companies trades on the NYSE. The FTSE 100 is the top 100 companies on the London Stock Exchange. When you buy or sell these instruments you are dependant on the performance of the whole group instead of just a single stock. For example The Nasdaq is a group of 100 tech stocks. If you believe that sector will do well but cant decide which companies to back you can back them all and diversify your risk by buying the Nasdaq 100
BTC Return This Year: na
  • #183
  • May 10, 2008 10:12am May 10, 2008 10:12am
Whats anyones latest experiences from there use of Gambler180.s

System .
  • #184
  • May 10, 2008 1:26pm May 10, 2008 1:26pm
Yes I am using this system, but am having issues with getting good trades.

I need to work on my MM,TP and SL a little better.

Does anyone have any good ideas on this and I think this would be the best way forward.

Like if you look at this example below, I was going to get into this trade, but I didn't and look what happened.

Quoting forfac
Whats anyones latest experiences from there use of Gambler180.s

System .
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 9 KB
  • #185
  • May 10, 2008 1:33pm May 10, 2008 1:33pm
Ok...this is the trade that I took.

I took a TP of 4 pips as I thought it wasn't a good trade to be in.

The 'x' would be my SL, the first arrow would be my entry as the previous bar has broken and closed below the bar before it.

The second arrow should have been my entry again, as it has closed above the previous high and I would still be in the trade, but I did not take the trade.

There are losses, there are wins, but I cannot get it round my head to have good MM and TP, though SL to say... I am ok with.
Attached Image (click to enlarge)
Click to Enlarge Name: example2.gif Size: 7 KB
  • #186
  • May 10, 2008 2:24pm May 10, 2008 2:24pm
Quoting guess121
Ok...this is the trade that I took.

I took a TP of 4 pips as I thought it wasn't a good trade to be in.

The 'x' would be my SL, the first arrow would be my entry as the previous bar has broken and closed below the bar before it.

The second arrow should have been my entry again, as it has closed above the previous high and I would still be in the trade, but I did not take the trade.

There are losses, there are wins, but I cannot get it round my head to have good MM and TP, though SL to say... I am ok with.
That is not a good trade because the bodies of the candles are still within the body of that long down candle. The way I am using the system is that to have a new downtrend there must have been an uptrend just before that. Where is the uptrend on that chart? I don't see one. At the third last candle you got a buy signal and that would have been profitable.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #187
  • May 10, 2008 5:21pm May 10, 2008 5:21pm
Hi Gambler. I sent you a PM. Did you receive it? Thanks.
  • #188
  • May 11, 2008 4:02am May 11, 2008 4:02am
Hi Gambler180 ,

Thankyou for sharing your system, im just getting fammiliar to the rules.

Just wanted to ask what time frame are you currently finding the system to be suited best to,

ie, 5 mins, 10 mins, 15 mins , 1 hour , 1 day .

I know you've said 1 day in a previous post , just want to check with you what you are currently favouring on the whole as your best choice.

Also what currency pairs do you favour to trade on with the system , EUR/USD , GBP/USD etc.



Thanks
  • #189
  • May 11, 2008 6:40am May 11, 2008 6:40am
Quoting forfac
Hi Gambler180 ,

Thankyou for sharing your system, im just getting fammiliar to the rules.

Just wanted to ask what time frame are you currently finding the system to be suited best to,

ie, 5 mins, 10 mins, 15 mins , 1 hour , 1 day .

I know you've said 1 day in a previous post , just want to check with you what you are currently favouring on the whole as your best choice.

Also what currency pairs do you favour to trade on with the system , EUR/USD , GBP/USD etc.



Thanks
I use the daily timeframe but I don't know what the best timeframe is to use. I trade all the currency pairs at marketiva.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #190
  • May 14, 2008 5:49am May 14, 2008 5:49am
7 profitable trades in a row now.

http://img208.imageshack.us/img208/6...vngivetip8.png
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #191
  • May 14, 2008 10:06pm May 14, 2008 10:06pm
Sounds a treat and a retreat to hectic indicators forext trading!
I've made a few moves but by far 4 losses and a winner.

I'll try to stick to it and see how it works better for me.

Cheers!
  • #192
  • May 16, 2008 2:35pm May 16, 2008 2:35pm
here is the latest update on the performance on the system.

I will not be using the martingale strategy. instead I will start with 1% then 2% and then 3% and so on. 1% more for every loss. If I get all the way up to for example 7% and trade number 8 is profirable but it isn't enough to cover the loss then I will also trade with 7% the next day.

http://img380.imageshack.us/img380/5...vngivetuc0.jpg
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #193
  • May 16, 2008 3:04pm May 16, 2008 3:04pm
Well done gambler!

i am using this system... though I am being a little stupid in making my trades, i am using this system on the hour time frame, though a little different to what you would be using it... it's sort of working at the moment, just got to make sure i don't keep making those stupid trades... grrr, there are losses though there are too many winners!
  • #194
  • May 16, 2008 3:11pm May 16, 2008 3:11pm
GBP/JPY M15
That's what my chart looks like atm.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 37 KB
  • #195
  • May 16, 2008 4:18pm May 16, 2008 4:18pm
hi Tjpld

how are you using this system?

thanks,
guess

Quoting Tjpld
GBP/JPY M15
That's what my chart looks like atm.
  • #196
  • May 16, 2008 6:18pm May 16, 2008 6:18pm
Well it's quite easy.
Entry Signals from Price Action as discribed in the initial post of this thread.
T3 show sthe Trend, 5 EMA/8SMA for Momentum.
I've not that much experience with the Signal Bar indicator on the top right corner. I just added this to find out if it helps in anyway.

What's important that I try to trade the Trend from the very beginning.
After London Open ( 9:00 GMT+1) the was another sell signal but the trend was in place for to long. So I waited for a new trend to form.
How do I find out if trend just changed? Well I look for the price Riding the 5 up or down. A textbook example is the downtrend after NY Open. Every candle rides the 5EMA down. If price moves really fast it usually pulls back to the 5EMA just to pick up more sellers. If price breaks the 5EMA and start riding it up that's a signal for me that trend is over or reversing.
Look for angle and speration to determin the quality of the trend.
  • #197
  • May 16, 2008 6:24pm May 16, 2008 6:24pm
I am trying not to use indicators and just price action, and these would have been my entries, but I am bloody crap on MM which I need to sort out.

Look at the chart added.
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 9 KB
  • #198
  • May 16, 2008 6:26pm May 16, 2008 6:26pm
you can see the entries and you can see the exits.

but i am finding it difficult to with MM side of things, any advice?

I know i will lose, but i need to make sure my wins kill my losses.

Quoting guess121
I am trying not to use indicators and just price action, and these would have been my entries, but I am bloody crap on MM which I need to sort out.

Look at the chart added.
  • #199
  • May 17, 2008 3:25am May 17, 2008 3:25am
I'd advise you to use fixed SL and TP.
Scalping just 10-15 Pips just isn't worth it when you initial SL is never as small as only 10 Pips. So your risk reward is below 1:1 which means you need an insane successrate which makes things even harder.
As for MM just calculate the appropriate lot size for you SL so that you only risk 2%.
  • #200
  • May 17, 2008 4:34am May 17, 2008 4:34am
Hi,Any EA updated can trade this great system now?Would you kindly instruct me how to setup EATks
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