5 Min Keltner System

This system should be good in a ranging market, but in a trending market I think it will struggle, perfect example now on e/u, the kelts will follow the price down and beyond your entry bar,
Tom

Hi Zaka
you looking at same one as me, i think no good though, market trending down
Tom

your gonna have losers ..no way round it the system is racking up the points though Il give a total at the end of today when im finished..


Paulus

Tom

I agree..you will have losers and no system can cope equaly well in trend like and oscilating type of markets..dont forget this is a mechanical system

paulus

Zaka,

Which indicator do you use on your chart for fibos? Is it set up automatically for you?

No, normal one of mt4

Hi Paulus how do u see this ones?

1 loss 17 pips
1 win 8 pips

any way that u could spot it and stay out of the loosing one?

Thanks

Hi Paulus. Has anyone on your forum experienced problems with their broker while trading a scalping system? Am hearing quite a bit of noise about this potential problem. Thx.

Hi Ex

I only trade 2 and have had no problems .. it is a problem in futures we get slippage on larger vol.

Paulus

Hi Zaka

I took both of those

Entry on the 1st I got 1.5442 I have a pain threshold of 15 pips and that got hit

On the 2nd I got an entry of 1.5434 and was taken out at 1.5440 for 6 pips

on both a 9 pip loss.. atm I cant see a way round it

To put this in perspective since 9am ( the system was up 28 before that but i started at 9am today)

Ive had 12 trades

+17+11+26-9+16+15-9+11-7+11-15+6 = +73

I enter then been placing stop 1 pip below low of entry bar for a long and 1pip above entry bar for a short..taking tgt in the same way and its been working very well...When i took the trade with the biggish loser I would have had to set a stop of 17 pips ...15 is my threshold.

Great work today. Looks as though you might be able to fill the tank with gas soon.

yellow dotted line are the rough stop placement ..should be for short 1 pip above high of signal bar visa versa for longs

btw a short may be setting up soon..

cheers Ex incredible strike rate on your system ..

gives you the confidence to trade the 9 contracts great system .. do you have a negative value that if hit you stop for the day ?

I wonder if the 2 system could be merged..yours is trend following mine mainly counter trending if they don't conflict they may work together ..

Paulus

Where do you plot it on your chart with normal one of MT4? I tried to do that but it does not look like yours?

How do you get blue boxes to indicate oversold and overbought position in

stochastic.

Regards

Rajat

Your system will probably work best asian session. While Expat's system may work better during European session.

No negative daily value preset as of now. Worst day encountered was at 8 and 3 some weeks ago. Interesting idea about a merger. As you are obviously far more adept at this computer thing than I, what can I do to help expedite such a challenge. Am more than willing to find ways to improve or increase results. I see you had arpond 76 pips for the day. At best I might have 40 -45. Let me know your thoughts.

I think I'm missing your entry. You wait for a close outside the keltner. Do you then enter at the open of the bar following the up or down candle?

How does a Keltner band compare to a Bollinger band? Forgive the ignorance.

Hi rajat..

I do that manualy Im afraid

if you right click on the 2nd tool bar down ..for example on the fib tool then select customize you can add items to your tool bar

I colour them as a reminder I have some thing setting up

Cheers

Paulus

ps.. I just went short eurusd at 1.5449 stop is at 1.5454 so my risk is 5 pips tp is set to 1.5439 but will change on next bar if Im not busted out system still on +73 as no new signals since that post