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A Basic Trading System (BTS)

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  • #281
  • Mar 28, 2008 6:26am Mar 28, 2008 6:26am
can i call this one a divergence too
there is a LL in the price region but almost a double bottom on the oscillator
  • #282
  • Mar 28, 2008 6:29am Mar 28, 2008 6:29am
this is what i mean
Attached Image (click to enlarge)
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  • #283
  • Mar 29, 2008 1:55am Mar 29, 2008 1:55am
Hi Effi!

Took this ideal trade based on your rules - divergence indicated change of polarity, then retrace to upper MA and here we are - more than 200 pips profit. Still in, watching for a signs of reversals...

Take care!
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 18 KB
  • #284
  • Apr 2, 2008 11:14am Apr 2, 2008 11:14am
I don't really like to post, and never have before, but I really enjoy this thread and the system it introduced me to. Thanks for that Effi. So I wanted to share the trade I just entered and to see if anyone else took the same trade as I did. I hope others will share their trade ideas as well using this great system. Quick disclaimer. Just because I entered this trade does not mean you should as well. Form your own opinion of the trade setup. I am a novice trader and still learning just like some of you.
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  • #285
  • Apr 2, 2008 7:01pm Apr 2, 2008 7:01pm
Effilang, How can I find out about your Basic Trading System For DAILY Trades (not 4 Hour)? Thanks.
  • #286
  • Apr 3, 2008 1:56pm Apr 3, 2008 1:56pm
Quoting TheDirtySerb
I don't really like to post, and never have before, but I really enjoy this thread and the system it introduced me to. Thanks for that Effi. So I wanted to share the trade I just entered and to see if anyone else took the same trade as I did. I hope others will share their trade ideas as well using this great system. Quick disclaimer. Just because I entered this trade does not mean you should as well. Form your own opinion of the trade setup. I am a novice trader and still learning just like some of you.
Welcome Serb,

Can you share your Trade_Manage _EA with Trail?

Thanks...MG
  • #287
  • Apr 3, 2008 10:07pm Apr 3, 2008 10:07pm
I'm seeing a nice divergence in USDCHF at H4. Tomorrow morning is NFP announcement, is it too risky to take it? What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF_H4_div1.jpg Size: 221 KB
Just joking..
  • #288
  • Apr 4, 2008 7:07am Apr 4, 2008 7:07am
First Matrixxdg, Here is the EA you asked for. Let me know if you have any questions, but it is fairly easy to use.

Second Pedro13, I never trade NFP Friday. Nice setup for that USDCHF trade. I would be a little concerned with all that support in the 1.0060 - 1.0075 range. Having said that, I think the market is trading sideways in anticipation of the NFP data.

Best of luck to you all and have a great weekend.
Attached File(s)
File Type: mq4 Trade_Manager_EA_wTrail_ORIG.mq4   13 KB | 850 downloads
  • #289
  • Apr 24, 2008 12:13am Apr 24, 2008 12:13am
Quoting TheDirtySerb
First Matrixxdg, Here is the EA you asked for. Let me know if you have any questions, but it is fairly easy to use.

Second Pedro13, I never trade NFP Friday. Nice setup for that USDCHF trade. I would be a little concerned with all that support in the 1.0060 - 1.0075 range. Having said that, I think the market is trading sideways in anticipation of the NFP data.

Best of luck to you all and have a great weekend.




Hi, TheDirtySerb, could you pls explain how excatly the EA works? what does it do?
No spoon…
  • #290
  • Apr 24, 2008 12:18am Apr 24, 2008 12:18am
is there any documentation or manual for the EA?
No spoon…
  • #291
  • May 14, 2008 4:10am May 14, 2008 4:10am
Hi Simonlke23,

Here is all the text from the file.

Herty
Attached File(s)
File Type: doc Trade Manager EA.doc   30 KB | 898 downloads
  • #292
  • Jul 10, 2008 8:21pm Jul 10, 2008 8:21pm
I just wanted to say thanks for sharing the system , helped me a lot , and opened my eyes to trading retracements , a safer way to enter a trade , thank you for sharing .
  • #293
  • Jul 24, 2008 9:43pm Jul 24, 2008 9:43pm
First things first, I am a noob. I have read over this thread, all of the links pertaining to this system, and a plethora of other information and still am not able, for the life of me, to figure out exactly what constitutes an entry point. Any help would be greatly appreciated.
  • #294
  • Jul 30, 2008 12:09pm Jul 30, 2008 12:09pm
Once price has gone above the 5 ema then you start looking for a sell signal. The entry for the sell is price moving past the low point of the candle that went above the 5 ema. So if the low of the candle that went above the 5 ema was 1.9985 then you would enter short just below 1.9985. If price does not reach the low of that candle then watch for another candle to go above the 5 ema and sell short just below that candle. You do the opposite for a candle that goes below the 5 ema because you are looking to go long just beyond the top of that candle. This system is set up to take advantage of reversals in price. That is why you go short when price goes above the 5 ema and go long when price goes below the 5 ema. Once you get this part down then you can think about the divergence aspect of his system. I have not tried this sytem live yet but demo trading it has been profitable. As he says I take my profit at 100% of the stop loss. I don't scale out, I take my whole profit at this point. I don't change my trade until I either hit my target or I am stopped out at the original stop loss which is the top of the set up candle (the one that went outside of the 5 ema). That means that I don't take another signal until I have either been stopped out or I have reached my take profit level. At that point I start looking for a new signal. I hope this helps.
  • #295
  • Jul 30, 2008 7:46pm Jul 30, 2008 7:46pm
thanks volcano, between your explanation and my re-reading this thread and letting it all sink it, I think I'm starting to catch on a bit
  • #296
  • Aug 30, 2008 8:47am Aug 30, 2008 8:47am
Effy darling,

Thanks for this great system, i tried it last week using 4 HR charts on a demo account and i am yet to make a loss. The good thing abt ur system is that it can work on any pair as long as it is not in the consolidating phase. Seriously, i don't think the system needs any major modification apart from locating the top and bottom of the trends which to me is not a serious issue in a trending market as long as i make the money back in my next trade. I have closed out on the 1:1 risk to reward trades and my TP is about to be reached on the 1:2 trades. Whatever i love this system and thanks a lot for sharing it with us.

God bless u bro!
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  • #297
  • Sep 1, 2008 6:49am Sep 1, 2008 6:49am
Quoting booktimes
is this a dying thread too
Nah booktimes, on the contrary some members are so busy making money from this thread they can only throw in few comments here and there and besides, the system is BTS, Basic Trading System (yet powerful) and to me, it doesn't need much tweaking so why should it be considered a dying thread?
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  • #298
  • Sep 2, 2008 8:27am Sep 2, 2008 8:27am
I just made my first loss on the 4HR chart for USDJPY today. There was no imminent divergence in play so i followed the rules of the system (i think).



Or did i do something wrong Effy?
Attached Image (click to enlarge)
Click to Enlarge Name: loss.JPG Size: 119 KB
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  • #299
  • Sep 2, 2008 8:48am Sep 2, 2008 8:48am
@ajantala,

i reckon you shorted UJ-h4. by the looks of the price action on your chart, it was at the bottom of a tunnel which can say that it may go up already. also, it is further complemented by the three lows not breaking a trend line there. that trend line is practically the bottom of the tunnel too (if you can see what I mean).

furthermore, the indicators were hinting a change of direction already. we don't necessarily wait for a divergence for a change of direction.

anyways, that's my 2 cents. hope it bought something or was worth a reply. lolz...

  • #300
  • Sep 2, 2008 9:38am Sep 2, 2008 9:38am
Quoting rsbgm
@ajantala,

i reckon you shorted UJ-h4. by the looks of the price action on your chart, it was at the bottom of a tunnel which can say that it may go up already. also, it is further complemented by the three lows not breaking a trend line there. that trend line is practically the bottom of the tunnel too (if you can see what I mean).

furthermore, the indicators were hinting a change of direction already. we don't necessarily wait for a divergence for a change of direction.

anyways, that's my 2 cents. hope it bought something or was worth a reply. lolz...



rsgbm,

Your advice is higly welcome. i actually checked on the 1 HR TF and saw a regular divergence on the charts showing an imminent reversal. However i am still unclear about what you mean by the three lows not breaking a trendline. Can yo elaborate on that?
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