5 Min Keltner System

Ex, I'm still hoping to get an EA working for your system. I think I overtaxed it last week when I had it looking for M1 confirmations. As a result, it didn't want to take any trades! LOL. Also, I had coded more stringent stochastic requirements than you had intended as I was requiring it to have passed over the 20 or 80 line on one of the two previous bars to be a valid entry. Will try again on Monday and see how it goes.

Scott

Paulus, I sent you an email via the link in your profile, please let me know if you did not receive it? Thanks

Hi Taz, I can barely handle navigation of my auto dashboard, much less the idea put forth by you. I am willing to do whatever it takes to help folks, will just need tome time to figure all the mechanics out. Will let you concentrate on my man Paulus for a while as to keep focus and concentrate efforts. Thx.

Sorry that it came across that way expat! Was not my intention to request a dashboard from you or in any way portray that it was something you needed to do. So please dont feel that way. It was strictly in response to your post: "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." It was just my attempt at a suggestion that instead of trying to get a complete EA coded (which it sounded like you wanted to start on with someone) that maybe a dashboard situation would be an easier goal for now. Sorry if I wasn't clear and came across the wrong way. I definitely don't want to be 'killing you'

Henryfam

Time is not an issue here the markets will always be there,as i found in futures time spent now at this stage will pay dividends when trading,and with proper money management building an account to a very respectable size wont take long.

I feel totally helpless not being able to code in MT in my old platform I could code a complicated system in 2-3 hours.Any help you can give at all will be very well received.

As I stated in my 1st post the Keltner system is there to be pushed and pulled about so please do what you think is required .None of what we do is solely our own idea some where along the line other traders have done the same at some time.

And im 100% certain that many traders have dropped potentially very profitable system just because of a bad day

Like the amoeba the system has to change to suit its surrounds.

Thanks for your help

Paulus

Any one interested in Futures I have a blog not updated for a while

It was originally written by me as a sort of trading diary.

anyway if you got 10mins to spare and your bored some things in it may help.

http://paulus10.blogspot.com/ - 'Day trading the long hard slog' ( part 1 starts after some charts of trades)


http://paulus10-trendseeker.blogspot.com/ - Trend seeking system ( will be looking at bringing over to Forex)

http://futurestoforex.blogspot.com/ ' Futures to Forex ' ( started the blog not finished)

Paulus

btw - these blogs are my own thoughts please do not take them as teachings

Not offended at all, was just trying to project a bit of levity into a situation to mask my own computer inadequacies. I am not easily injured and have very tough skin. Thx for all your ideas. Hello to Paulus, Scott and all the rest of you. Will drop in again soon (will provide absolutely no notice though). Greta trading to all.

That "great" trading folks, I simply am afflicted with a Garbo ("Greta") fixation. LOL

Interesting material (blogs) Paulus. I am curious as to how such a techique would be beneficial to a 5m plan such as mine. Perhaps, upon review of my charts, I could initiate trade with 2 positions. Close one at TP (3 net pips), and close the other at generation of an opposite signal. Natuarally, all position would be closed at SL. Is this a thought with any merit in your esteemed opinion? X

Hi Ex

Initially on Futures I wanted to lock in $500 per contract and on the volatility at the time it seemed feasible.

By using 2 contracts I increased my chances of doing it by closing 1 contract for +2 bringing the stop to break even on the 2nd..

One more point of movement gave me +3 on my 2nd and $500 for the pair of contracts.

The stop was set to 1point on each contract so a losing signal gave me -2 while a winning signal gave me +5 a nice risk return.

With the volatility on Futures dropping I adjusted my targets to +1 and +2 giving me $300 for a successful signal against -$200 for a losing signal RR still positive so was happy

As an example If I had the following +1+0,+1+2 ........after 2 trades Im sitting on +4 ( $400) when i take my 3rd trade because Im trading 2 contracts I would close when im 5 ticks in profit ( $50 per contract) this gives me 1 full point and 5 points for the day.

I wouldn't wait for the normal 1 and 2 point targets to be hit.

Money management would require you to go from 2 to 4 to 6 to 8 etc with each pair being trade giving you $500

I think this approach has merit if it would work for you I couldn't tell.

This is one advantage of having an EA for your system you could easily prog the stop scenario in and take at look at how it compares to your existing set up

Hope that helps

cheers

paulus

It seems plausible to attempt some manner of this style. I could open a 2 contract trade, close one a TP1 and let the other go for another potential 4-5 pips as it would be a "free money trade". Will look into an ea also, but very difficult with my particualr system. Doing some trading on Monday or what ?

Ok Kelt fix 1 .. will check today

+7-7+5+4+12 = +21 pips so far ... day over perhaps but we will see the final outcome

Paulus

Taz

taking your suggestion of entering on the following bar but on a lmt order,my concern was that the really good signals just go and you would miss the entry.

However on the signals above taking a lmt order with a view of covering the 2 pip spread

ie if going long at 12 ( close of bar 10) then enter a lmt buy at 10..you gain 2 pips on every winner and save 2 pips on every loser ( with a fixed stop)

On the trades above you would have +9-5 ( next signal didn't retrace so no +5) +6+14 =+24points

I will look at this today

cheers

paul

ok fix doing well so far

Taking the lmt buy/sell although its a bit tricky and an EA just to do the ltd buy/sell would be easier i think

+9-5+6+14-5-5+9+8+11= +42

Paulus

Paulus,

Did you change your stoch settings? I noticed on your chart that it shows (5,3,2) but in your previous posting the settings were (15,3,2) Which one are correct?

Thanks!

Hi Paulus, Thanks for sharing your system. What are the arrows for? Is there any other time frame and any pair that you recommand? Thanks atha

Hi FX

I wasn't actually using the stoch to trigger the trades in the 1st lot of posts..I was using the stoch purely to show an OB or OS situation once I had that I was going short on the next down or up candle candle which worked extremely well on futures and got me in sooner as I wasnt waiting for the stoch to turn.

This fix involves using the stoch in a more conventional manner and it needs to be quick hence the setting of 532 Im using it now to instigate the trade once outside of the top or bottom K line.

This is obviously the standard way to use a stochastic but im not using main line going through signal to trigger ..will post at the end of the day if it seems to be working well.

System on 42 I think a good cut off point for the day is 30 pip which is equal to my +2+1 = +$300 per contract on Futures

cheers

Paulus

What are all the pairs you guys happen to be looking at when using this. Thanks

Paulus,
Trying to understand your tweak. What price are you basing the limit entry on? I know you said the previous bar, but the high? low? close?
I am glad this new fix is promising so far, obviously more testing required to see if it was the tweak, or just a good market today
I am +8+2-9-14-11 right now with your original hehe

I have been using Paulus's system on the 1 hr and 4 hr time frames and have been making some tremendous gains. Thanks Paulus!