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5 Min Keltner System

  • #141
  • May 19, 2008 10:52am May 19, 2008 10:52am
Sorry to answer multy posts in one reply but find it quicker ..hope u guys dont mind

Atha

the arrows show my entries but are manually put on the chart

Pippy cent

Im on EURUSD 5min on advice from others as Im new to Forex myself although have been trading US Futures for around 5 years

Taz

On a long I'm waiting for close of the signal bar having set up a lmt buy,Im taking 2 pips off the close of the signal bar then submitting the order ..some times I miss the 1st little drop back on the following 5min bar but it seems to visit the price several times within the bar and gets taken


Pisforall

Tell me more

Paulus
  • #142
  • May 19, 2008 10:56am May 19, 2008 10:56am
ok so the signal bar which is just the bar that closes under the low k line, as well as under 20 stoch. So this is the close price you are taking 2 pips off, not waiting for the next up bar to close and taking 2 pips off that one?
Just making sure I understand how you are doing it so I can change my test mode today and see how it fairs.

New status using orig method:
+8+2-9-14-11+8
  • #143
  • May 19, 2008 10:57am May 19, 2008 10:57am
new fix kept me out of the 2 losing signals in the down trend but also kept me out of the winner at the bottom..The losers would of cost me 5 pips a piece the winner was 10pips so no gain or loss over all
Attached Image (click to enlarge)
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  • #144
  • May 19, 2008 11:01am May 19, 2008 11:01am
Taz sorry Im confusing you here

On the chart below the arrow is the signal bar ( when i would normaly enter) when that end Im submitting a lmtbuy based on the close of the signal bar ( arrow) less 2 pips

Paulus

ps could be 1pip just chose 2 as it the spread
Attached Image (click to enlarge)
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  • #145
  • May 19, 2008 11:07am May 19, 2008 11:07am
Paulus,
No apologies necessary, as I am sure it's not you confusing me, just that I get confused

For clarification, the way I look at your system is that we have a signal bar, and an entry bar. I think that's how I laid it out for myself. The signal bar is the one that closes under the bottom kelt, and under 20 stoch.
The entry bar is the bar we wait until the last 10 seconds to see if it's an UP bar, then enter our trade right before it closes.
With that in mind, since you said the bar you normally enter on, I assume you mean the entry bar, so you are letting it close completely, then taking 2 pips off it's close price and placing your trade at that limit.
Hopefully this time I will understand it (and again, not your fault)
  • #146
  • May 19, 2008 11:12am May 19, 2008 11:12am
PipsForAll:

Great to see your having success...
Could you maybe post some of your trades/charts for us to see what trades you took on the 1hr and 4hr timeframes?

Some more info would be great. Also what settings are you using for the stochs?

Thanks
  • #147
  • May 19, 2008 11:16am May 19, 2008 11:16am
I must have missed it somewhere, but looks like you changed the stoch to 5/3/2 from 15/3/2?
  • #148
  • May 19, 2008 11:21am May 19, 2008 11:21am
you got it taz

BenQ yes Im instigating a fix I need to get this great futures system working on this forex beast

from post 137

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.
  • #149
  • May 19, 2008 11:56am May 19, 2008 11:56am
Good day to all. Paulus, "ICFX" asks if my system may be effective in trading the Euro in the futures arena. Sent a reply to inquire with you as your experience far exceeds that of my own. What are your thoughts on this? Are the R/R setups to tight for futures? Is this even possibly? Thx. Btw, congrats! Looks like you have made an excellent adjustment and are rolling. Not so good for me today at 6-2. Might be frustrating a few who are visiting my thread. Such is life.
All that is needed for evil to triumph is for good men to do nothing !!
  • #150
  • May 19, 2008 12:04pm May 19, 2008 12:04pm
Hey Taz or Paulus,

Could one of you please post a detailed chart of the new method from A to Z because I am totally confused now..lol I would greatly appreciate it. Im getting hung up on the entry bar thing and Im not sure what you mean by taking 2 pips off. Thanks again.

Quoting tazmaan
Paulus,
No apologies necessary, as I am sure it's not you confusing me, just that I get confused

For clarification, the way I look at your system is that we have a signal bar, and an entry bar. I think that's how I laid it out for myself. The signal bar is the one that closes under the bottom kelt, and under 20 stoch.
The entry bar is the bar we wait until the last 10 seconds to see if it's an UP bar, then enter our trade right before it closes.
With that in mind, since you said the bar you normally enter on, I assume you mean the entry bar, so you are letting it close completely, then taking 2 pips off it's close price and placing your trade at that limit.
Hopefully this time I will understand it (and again, not your fault)
Live today as if you will stand before God tomorrow.
  • #151
  • May 19, 2008 12:14pm May 19, 2008 12:14pm
Hi Pippy

Can i post a chart tonight just as a conclusion of things with the new entry criteria ?

All what was happening was that taz suggested that rather than enter the market when you get a signal it may be a good idea to set a lmt order for the next bar as he noticed most signals retraced a few pips.

So if my normal entry candle for a long finishes at 12 then set a lmt order for 10 on the next bar If price comes down to 10 we are filled for the long and 2 pips better off.Its a bit tricky to do you just had to be in the zone lols when the 5min entry bar finishes.

The system I posted charts for on Friday used the stochastic just to show over bought over sold areas..if the stochastic went over sold ie below 20 then I would go long on the next up bar and would not look at what the stoch was doing..this is aggressive trading and gets you in sooner on the move and worked very well on US futures..

Today I am looking at what the stoch is doing once we are outside the upper or lower K line and its in over bought or over sold area.

I wont post now as I don't want to waste people time as it may not work long term ..

But will post a chart tonight with how I'm looking at the stoch I hope you don't mind

Paulus
  • #152
  • May 19, 2008 12:15pm May 19, 2008 12:15pm
Pippy, Best to wait til the end of the day when Paulus sums up the changes he's made. It's changing in progress right now so it's not something we should jump all over just yet, let's give him some time to go over the results. JMO
  • #153
  • May 19, 2008 12:25pm May 19, 2008 12:25pm
Expat

I used to trade Russell 2000 futures Er2 ..

1 tick = $10
1 full point $100

Along with Dow Jones Futures,Dax Futures, and a little of the German Bund Future

bid ask spread on Er2 was 1 tick so very tight and good to trade not sure about Euro Futures..from what I can see you need a future with a tight spread.

Paulus
  • #154
  • May 19, 2008 12:42pm May 19, 2008 12:42pm
this one was fun
Attached Image (click to enlarge)
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  • #155
  • May 19, 2008 12:43pm May 19, 2008 12:43pm
i assume this was correct? previous bar closed below channel. or ami missing something
  • #156
  • May 19, 2008 1:28pm May 19, 2008 1:28pm
Cool thanks i appreciate you getting back to me. I understand what you mean now about the limit order. Thank you very much.

Quoting Paulus
Hi Pippy

Can i post a chart tonight just as a conclusion of things with the new entry criteria ?

All what was happening was that taz suggested that rather than enter the market when you get a signal it may be a good idea to set a lmt order for the next bar as he noticed most signals retraced a few pips.

So if my normal entry candle for a long finishes at 12 then set a lmt order for 10 on the next bar If price comes down to 10 we are filled for the long and 2 pips better off.Its a bit tricky to do you just had to be in the zone lols when the 5min entry bar finishes.

The system I posted charts for on Friday used the stochastic just to show over bought over sold areas..if the stochastic went over sold ie below 20 then I would go long on the next up bar and would not look at what the stoch was doing..this is aggressive trading and gets you in sooner on the move and worked very well on US futures..

Today I am looking at what the stoch is doing once we are outside the upper or lower K line and its in over bought or over sold area.

I wont post now as I don't want to waste people time as it may not work long term ..

But will post a chart tonight with how I'm looking at the stoch I hope you don't mind

Paulus
Live today as if you will stand before God tomorrow.
  • #157
  • May 19, 2008 2:36pm May 19, 2008 2:36pm
This is a great thread, and great postings!

Question: When a SIGNAL bar closes below the lower Keltner band and also below the Stochastics 20 line, does the very next bar have to be the ENTRY bar? In otherwords, can there be an intervening bar, or must the two bars be consecutive?
  • #158
  • May 19, 2008 2:40pm May 19, 2008 2:40pm
ok still at suck it and see stage but looks promising your the experts any 'try this advice' will be wellcome the more the merier

Im still using 20 and 80 for over bought over sold

On my chart you will see

Main line - white
Signal line Red

What i want to see for a long is

Main line ticking up on the bar that is up
the signal line must be going up as well but it need not have been below the OB or OS lines all i want is joint confirmation of UP or DOWN

For a long If the main line is going up and the signal line is not it tells me we could be moving down more

Ive labeled the signals to make it a bit easier

A - uptick on main but signal down still and down bar - no sig
B - Uptick on main down still on signal ( close but checked in navigator) - no sig
c - up tick on both with up bar - sig - +7 pips + 9pips on lmt buy
D - Down tick on main but signal up still - no sig
E - Down tick on both with down bar - sig +6 pips +8 with lmt sell
F - Up tick on main but signal down - no sig

These are just a few examples were all in this game together so if you see a better solution just post it here,if you think something other than a stoch will work let me know

im happy with this and will check on it throughout the week ..

Ok got me tin hat on for incoming but 'waking the deads on tonight' and im a fan so be patient with me

Paulus

here is my template

bugger I took all the arrows off before I saved my template so it would be clean for u guys and didnt take a screen shot arghhhhhh give me some time the chart will follow
Attached File(s)
File Type: tpl kelt system.tpl   2 KB | 595 downloads
  • #159
  • May 19, 2008 2:49pm May 19, 2008 2:49pm
Paulus
Attached Image (click to enlarge)
Click to Enlarge Name: kelt fx1d.gif Size: 22 KB
  • #160
  • May 19, 2008 3:03pm May 19, 2008 3:03pm
are you entering on the line marked C or the candle after?
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