5 Min Keltner System | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Keltner channel for MT4 55 replies

Keltner Channel Multiplier Constant 8 replies

Keltner channels... 3 replies

Question regarding indicator for keltner channels 1 reply

Keltner Channels and Bollinger Bands 1 reply

Attachments: 5 Min Keltner System
Exit Attachments

5 Min Keltner System

  • #101
  • May 15, 2008 7:57pm May 15, 2008 7:57pm
Quoting jeta
Exactly. I think many people following this forum are sick and tired of people claiming their systems work, but after wasting many days of perfecting trading the strategy discover that the founder of the strategy actually loses money.

Just check out all the systems on collective2.com. There is only _ONE_ forex system there that is somewhat profitable with a long track record. Not a good sign huh?

Just look at all the damn threads on FF. There are THOUSANDS of them. After wasting an incredible amount of time, I have discovered that there are no more than 5-6 threads worth anything. The rest of the threads are started by newbies or losers that have come up with something out of a book and look for attention and followers and encouragement on FF.

You have lagging indicators, bad risk/reward, no straight rules, slippage, and big spread all against you and you still claim you can do it? That's crazy! Show results.

Real/Demo whatever, just show proof that it works.

If someone is giving you something for free, either accept it or move on.
If they are trying to sell it, you have a point. I would want to see proof. He isn't selling anything.
  • #102
  • May 15, 2008 7:57pm May 15, 2008 7:57pm
Are you following a similar line of trading to Paulus?

Regards

Alex


Quoting ExpatXXXX
Perhaps this will suffice for now. This is a copy of the April statement sent to my business partners. It at least shows how many trades were initiated and, as mentioned before, results can easily be ascertained by simply backtesting as appropriate. Trade times are M-F 12:00 to 18:00 gmt. Good trading to all.
  • #103
  • May 15, 2008 9:04pm May 15, 2008 9:04pm
Here is his method: http://www.forexfactory.com/showthread.php?t=86533
Those are incredibly results. That by far is best trading I have ever seen. Great job X !
  • #104
  • May 15, 2008 9:25pm May 15, 2008 9:25pm
Only communicated with Paulus recently, however, both systems have some of the same methodology behind them. Paulus posted his results today and they are very impressive. That system seems more countertrend than the one I utilize, but there may be a way to combine the two to achieve some consistant pips. We both were online all day today and tried to help as many as possible understand each of the systems involved. I have been a lurker here for some time and fully understand what many (Jeta) have had to endure as far as outlandish claims. It is unfortunate, however, each of you surely realize that almost every individual out there in forum land is just trying to find a way to fit into this vast speculative arena. As for me, will be at it again in the a.m. (12:00 to 18:00 gmt) trying to beg the Forex gods for some crumbs. All are welcome to attend as I will do my best to keep everyone aware of what I see developing and trading it accordingly. There were some in attendance today that actually demo'd as the day progressed. Paulus seems to offer the same opportunity. Untimately, as was mentioned, I am selling nothing and simply sharing a method that has been effective for both myself and my business partners. Have a great evening and remember "PLAN THE TRADE & TRADE THE PLAN". Good Evening.
All that is needed for evil to triumph is for good men to do nothing !!
  • #105
  • May 15, 2008 9:33pm May 15, 2008 9:33pm
Just wanted to thank Paulus and Expat for sharing their systems. I am def becoming a student of both.
Yay! Pips for everyone!
  • #106
  • May 15, 2008 9:37pm May 15, 2008 9:37pm
See you in the morning, Expat! I enjoyed learning your system today...

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #107
  • May 15, 2008 11:03pm May 15, 2008 11:03pm
Hi Paulas,
I have just found this thread and have loaded up your template and gone over your rules, but I have a couple of questions, sorry if they are newb in nature

I think I understand the entry method, and want to clarify the TP and SL situation. I set the SL just under the LOW of the bar I entered the trade on? If I recall you said you wait until the last 10 seconds of the entry bar to place your order? So you set a nominal 10 pt SL and TP when you enter, then 10 seconds or so later you go back and adjust your SL and TP?
The TP level you set is at the highest Kelt bar? Over a period of how many bars, or just the point it's at directly above the entry bar?
Then you adjust your TP on every bar close? If yes then I assume it is indeed at the top Kelt bar above the new bar.
Once you enter the trade, the SL never changes correct? Or would you recommend running a trailing stop?
I also noticed on some post you had stated TP of 20-30 pips, which method is testing out better?
Thanks, and sorry for so many questions, hopefully I won't have too many more once I demo test this for longer.
I look forward to your results daily.
Thanks!
  • #108
  • May 16, 2008 12:10am May 16, 2008 12:10am
Quoting ExpatXXXX
Perhaps this will suffice for now. This is a copy of the April statement sent to my business partners. It at least shows how many trades were initiated and, as mentioned before, results can easily be ascertained by simply backtesting as appropriate. Trade times are M-F 12:00 to 18:00 gmt. Good trading to all.
i have never came across such a successful scalper.Scalping never been my line but this will makes me into it.Expatxxx ,good pipping to you.

Anyway,which broker are you using?

Zu
  • #109
  • May 16, 2008 12:11am May 16, 2008 12:11am
Paulus,thanks for sharing.

Zu
  • #110
  • May 16, 2008 12:34am May 16, 2008 12:34am
Jeta

I think Expat gave you a very gracious reply,without wanting to be banned from this site I would of told you to sling your hook .

As another poster says we give this info free you havnt got to read it or waste your valuable time on it.I for one will not show any of my personal trading accounts.Thats between me and my accountant and no one else.

Ive been trading for 8 years and still learning and reading and asking ..I dare say Ive wasted hundreds of hours looking at bold statements of systems.

I don't know where you were really coming from .. I trade and Im sharing my system Im not in the dock of the old baily ,if your sick and tired don't post or read any more of the threads on the BB.

I lose trades I lose money I have good days and bad I miss trades go in late on trades come out early on trades I make mistakes .. You want a perfect system with full accounting back up ,high win rate low draw down ..

Hmmm it don't exist I think

I say what I think black and white thats me like my systems .. this prob sounds harsh,but hey ho .

Any way its 6.29am and Ive got to go into London with my wife on a hostpital appointment will answer posts when i get back.

Happy hunting and chill ..

Paulus
  • #111
  • May 16, 2008 3:31am May 16, 2008 3:31am
Good morning all

All the best to you and your family Paulus, no money can replace health.

Non sunt multiplicanda entia preater necessitaem
  • #112
  • May 16, 2008 6:19am May 16, 2008 6:19am
I'm thinking in doing 3 entrys with this system. 1st after it touches ob os line, second and double of the 1st under the near fib trend (new low or high) 3rd if it retests the low/high.

Have u tried this P
Attached Image
Non sunt multiplicanda entia preater necessitaem
  • #113
  • May 16, 2008 6:32am May 16, 2008 6:32am
Quoting Paulus
From 9am to close system finished on 60 ( from open to 9am it gained 28) today I didn't get all that..88 in total I didn't get any where near all that as I didn't take all the signals...

I havnt got a super filter it was just family life and the phone made it impossible.

I still advocate taking 20-30 and running ..

the biggest winner was around 26pips today not bad for a scalping system that throws out 30 odd signals but please be aware the losers have a max of 15 pips but average out around 7-8.

This system will have losers any system will,but this is a mechanical system pure and simple..its easy to work with and easy to identify signals ....once your in you will have to modify your order ticket at the start of a new 5min bar to set the new tp at the K lines move.

Paulus

For above it is safe to assume that you used 1 pip below or above entry candle for Stop loss?

Thanks
  • #114
  • May 16, 2008 7:55am May 16, 2008 7:55am
Hello Paulus. Do have a great day and hope all is well with your wife. For those asking, Interbank FX is my broker. Great trading to all of you today. Will drop in later.
All that is needed for evil to triumph is for good men to do nothing !!
  • #115
  • May 16, 2008 11:43am May 16, 2008 11:43am
Hi All,

Thanks for the posts my wife is fine thankyou.


Hmmm not a good day by the looks it seems this system is going to need work to be profitable on Forex.This system was lifted over from Futures without any adaptation.

Zaka see what your saying with your 3 entry play perhaps you can keep and eye on it and let me know how it pans out in the next week.Id be very interested as I think this system shows very good merit

Aelimian yes you are correct although i think that will have to be changed.

Pipsforall Expats system has been tried and tested over several months my system although great on Futures for the same period looks like it needs some filters judging by today,from the posts Ive seen Expat seems a calm and very controled inividual and would be a great mentor for any trader to follow and emulate.

thehenryfam it seems i have to change a few things lols ..no back testing at all I traded the system on Futures for several months with very good returns.

Tazman If I go short its in the last 10 secs of the bar I have the stop and tgt set to the approx levels of 1pip above the high of the entry bar and the level of the bottom keltner line.

After im filled I click on modify ticket and adjust the SL and TP to the exact pips at the time of the entry bar ..each candle is 5mins so we have time

then a new 5 min bar starts I leave the stop where it is ( 1 pip above entry bar) but as the bottom K line would of moved I adjust the TP with the modify order again.. Im working on refinments now
  • #116
  • May 16, 2008 12:33pm May 16, 2008 12:33pm
Paulas,
Very glad to hear your wife is fine.
And thank you for the response. Yep this is exactly how I was testing it during the asian session last night and wasn't doing very well. That's why I wanted to confirm all that. I see you are seeing problems as well so apparently it wasn't just me

I sent you a pm a day or so ago. Would u be willing to share your template for ninja trader with me so I can play with this on the ES? I am really curious to see how it compares to the scalping method I am using now.

Let me know, I'd be very appreciative!
  • #117
  • May 16, 2008 2:20pm May 16, 2008 2:20pm
Hi Paulus. Weekly update is available on my thread for your review. Charts for M-F also there showing most of the trades made. Have a great weekend, my best to the "Misses", enjoyed communicating with you this week. Any questions, please do not hesitate to contact. Keith
All that is needed for evil to triumph is for good men to do nothing !!
  • #118
  • May 17, 2008 11:14am May 17, 2008 11:14am
Hi tazman sorry for the delay

I used NT just as a way to execute trades it wasn't coded into the software.

I had coded it into IRt by linnsoft using the data feed supplied by interactvive brokers with thier tws if you have that software I will gladily send you my signal which will run automaticaly and generate the signals both visualy and verbally.

This signal could then be used to automatically trigger an order

cheers

Paulus

ps..The keltner beast is resting ...regrouping it will return !!
  • #119
  • May 17, 2008 1:05pm May 17, 2008 1:05pm
Hey Paulus, you and Taz keep plugging away at that machine. TREMENDOUS POTENTIAL! Can hardly wait for you to work out those few bugs. You will assuredely be rolling then. I need to find someone to code and test for me, I am skepticle that an automated trading possibility can be accomplished with a system such as mine, as it has small TP and Sl targets. Will patiently wait and see though. Good day Sir.
All that is needed for evil to triumph is for good men to do nothing !!
  • #120
  • May 17, 2008 2:34pm May 17, 2008 2:34pm
Expat, I think starting with a dashboard of sorts to at least notify you of the conditions being met to enter a trade would be an excellent start. I know that's the problem I have with alot of these. Too many things to stare at non stop til they all fall into place. I noticed in another thread (forget which at the moment) someone came up with a nice dashboard for the method, maybe you can do the same.
0 traders viewing now