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5 Min Keltner System

  • #381
  • Jun 23, 2008 5:26pm Jun 23, 2008 5:26pm
Yes, thanks Paulus,
I agree with your questions and these are ones David will have to answer. I don't like how the EA is ending up trading normally, so hopefully we can get this tweaked and adjusted to trade the way it should. It is very consistent at the moment on how to trade a losing trade, hopefully we can turn it around.
Hopefully David can take a look at this chart and example and shed some light on why it's taking so long to open the trade, seems to be the biggest problem at this time.
  • #382
  • Jun 23, 2008 7:30pm Jun 23, 2008 7:30pm
1. Any news on the RSI? Are we still doing this? I got lost with the explanation, can somebody please explain how we're dealing with the false positives?

2. Paulus: Same problem as Expat with your system? Extremely slow market?
  • #383
  • Jun 23, 2008 8:40pm Jun 23, 2008 8:40pm
Quoting Paulus
in ref to post 376 by taz

Sorry to flit in and out but alot pf personal baggage going on right now.
I think the answer to your question is the 2 pip spread. The stop should be 1 + spread (so price actually gets 1 pip below before you are stoped out). Or one other possibility is that I put in a variable for the minimum stop loss, so if the entry price is too close the the high,low of the signal bar, it with use a set stop loss. That is because some brokers have a minimum stop loss they will let you use. If you put in one too close, you will get an error for your order.

Also, the price never got to the limit price until that down bar, it retraced 1 pip, but not two (at least that is what it looks like to me, and my best guess as to why that is when it entered).
Attached Image
"No man is free who is not master of himself"
  • #384
  • Jun 24, 2008 10:20am Jun 24, 2008 10:20am
Quoting davidwillis
I think the answer to your question is the 2 pip spread. The stop should be 1 + spread (so price actually gets 1 pip below before you are stoped out). Or one other possibility is that I put in a variable for the minimum stop loss, so if the entry price is too close the the high,low of the signal bar, it with use a set stop loss. That is because some brokers have a minimum stop loss they will let you use. If you put in one too close, you will get an error for your order.

Also, the price never got to the limit price until that down bar, it retraced 1 pip, but not two (at least that is what it looks like to me, and my best guess as to why that is when it entered).
David do you check you email on the private messages inbox?
  • #385
  • Edited 2:10pm Jun 24, 2008 11:45am | Edited 2:10pm
this is about today is right?, you use this system in every hour or is better durgin ny and london market?

Which is the buffer for read the slow in stocastic colored
Inserted Code
double scolored_0=iCustom(NULL, PERIOD_M5, "StochasticColor",5,3,2,0,1,0,0); // now
Because don't work
Attached Image (click to enlarge)
Click to Enlarge Name: today.JPG Size: 101 KB
  • #386
  • Jun 25, 2008 1:48am Jun 25, 2008 1:48am
Quoting Paulus
in ref to post 376 by taz

Sorry to flit in and out but alot pf personal baggage going on right now.


Hey Paulus, How is everything? I hope your daughter is recovering good. And don't worry about us here. Take care of things at home, and we will be here when things settle down.
"No man is free who is not master of himself"
  • #387
  • Jun 25, 2008 1:56am Jun 25, 2008 1:56am
Hey Paulus...

I follow the thread... and like wise... hope the daughter is well!!!

Take it easy!
Guess

Quoting davidwillis
Hey Paulus, How is everything? I hope your daughter is recovering good. And don't worry about us here. Take care of things at home, and we will be here when things settle down.
  • #388
  • Jun 25, 2008 5:44am Jun 25, 2008 5:44am
Good healing!!! i hope that this sentence is correct
  • #389
  • Jun 27, 2008 2:33pm Jun 27, 2008 2:33pm
Hi Paulus,

Just finished reading the thread from start to finish. whew! It sure is a good system. I'm just wondering though, (as someone asked also earlier though I guess you missed that post), if this was profitable in the Futures markets, what made you move over to forex?

As I'm also trading the Futures (or at least trying to, lol), Do I understand correctly that the very first system you posted in the first page, is the very same system you used in futures? same timeframe? same settings?

Thanks in advance Paulus for clarifying this for me. I hope your daughter is recovering well. She's in my prayers and so are you for your generousity in sharing your system.

More pips!

R
  • #390
  • Jul 1, 2008 10:33pm Jul 1, 2008 10:33pm
I just finished the thread as well. Two days, with all the charts to look at. Many thanks go to Paulus for all the efforts to date. It takes quite a committment of time to make all those posts, charts and replies. Hope all is well with you and yours.

Also Jacioux helped crystalize a nebulous idea that was already floating around in my head as I was reading -- use of an IB candle instead of the RSI technique as a possible trend reversal signal. Ta mate. I already employ an IB setup on the 15M, and will try to marry these two by putting the 5 and 15 side by side. Slightly diff stoch settings, but we'll see. At the very minimum, it would seem to be an excellent entry confirmation to add to the warchest.

Also I would second Peej's remarks on S/R (Hoss made reference too). PJ, your charts were well-presented. I appreciate the overall scalping aspect, but also believe its a good idea to at least be aware of the major S/R levels on the longer term charts. Which, on this time frame, IMHO, would generally be 15, 60 and 240. Put em on the same chart. Maybe start with the 240, mark em. Then change timeframe to 60 and repeat. Keep bringing them forward til you get to the 5m. Save to chart. And there they are, along with the 00's and 50's, waiting for price. Doesnt take that long and is worth it. If they bug you (I admit they bug me sometimes), fade them into the background color. Trend lines, trend channels, horizontal lines, fibs, pivots, whatever your pleasure. I am pretty sure biggie big bank is aware of them. I hope that is not speaking out of school.

Thanks again to all involved.
  • #391
  • Jul 2, 2008 10:55pm Jul 2, 2008 10:55pm
Followup from message above regarding attempt to incorporate this method into 15M chart with IB/OB entry. Note times are EDT. Note also, my stoch setting is slightly different.

First chart is EUR. Upon London open, price breaks above Asian high, then has a green candle close outside the K. Next bar is red, but I am waiting on an IB/OB which forms as the next candle (circled), but wrong color for Paulus' method. This is my signal so I establish entry price at low of IB, which hits the next candle. Stochs and ADX favorable, and you can also see SMA crossover. The clincher was the significant stoch divergence. Stop set at high of bar preceding IB (fucia lines).

After enduring fairly long inverted hammer, take 1/2 at the 00 (which I verbal as the "uh-oo"). Move stop down. I had a TP below where it bottomed, so manually closed at the next IB marked by the arrow. That exit bar is also a Paulus setup with close below the K. And it would have worked had you set your stop at the low of the bar preceding the IB. I did not take that one but did take the one circled, occuring as NY got to work, but not a Paulus trade so wont discuss (in hindsight, i was too eager with this second entry. it worked, but still....)

The second chart is the GBP from the same time period (these are the two pairs I watch). The signal candle here was an OB that formed after a K setup (circled). Entry was not until two candles later, long red one. Stop set at high of the OB (see fucia lines). Stochs, ADX and SMAs all confirmed + stoch divergence.

Closed 1/2 at the 00s, and moved stop down on other half. Note the inverted (green) hammer around that time -- Paulus' RSI filter warned you off that as a possible entry (lower low). My target was 9840 based on S/R to the left but it did not hit so manually closed at next IB marked by arrow. Next entry (long) is shown too but did not fit the entry parameters here to warrant discussion.

Anyway, this is a different style, not 5M scalping. But does tend to show, at least for today and these two pairs, Paulus' method has validity on a longer term chart as well. Both on entry, and use of the RSI to keep you out of a bad countertrend signal.

So thanks again to Paulus for bringing this style over. By coincidence, I attended Traders Int'l as well around that same time. If you took the class in Austin, who knows, we may have been sitting beside one another!
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  • #392
  • Jul 17, 2008 1:08pm Jul 17, 2008 1:08pm
Quoting Juan Grande
Followup from message above regarding attempt to incorporate this method into 15M chart with IB/OB entry. Note times are EDT. Note also, my stoch setting is slightly different.

First chart is EUR. Upon London open, price breaks above Asian high, then has a green candle close outside the K. Next bar is red, but I am waiting on an IB/OB which forms as the next candle (circled), but wrong color for Paulus' method. This is my signal so I establish entry price at low of IB, which hits the next candle. Stochs and ADX favorable, and you can also see SMA crossover. The clincher was the significant stoch divergence. Stop set at high of bar preceding IB (fucia lines).

After enduring fairly long inverted hammer, take 1/2 at the 00 (which I verbal as the "uh-oo"). Move stop down. I had a TP below where it bottomed, so manually closed at the next IB marked by the arrow. That exit bar is also a Paulus setup with close below the K. And it would have worked had you set your stop at the low of the bar preceding the IB. I did not take that one but did take the one circled, occuring as NY got to work, but not a Paulus trade so wont discuss (in hindsight, i was too eager with this second entry. it worked, but still....)

The second chart is the GBP from the same time period (these are the two pairs I watch). The signal candle here was an OB that formed after a K setup (circled). Entry was not until two candles later, long red one. Stop set at high of the OB (see fucia lines). Stochs, ADX and SMAs all confirmed + stoch divergence.

Closed 1/2 at the 00s, and moved stop down on other half. Note the inverted (green) hammer around that time -- Paulus' RSI filter warned you off that as a possible entry (lower low). My target was 9840 based on S/R to the left but it did not hit so manually closed at next IB marked by arrow. Next entry (long) is shown too but did not fit the entry parameters here to warrant discussion.

Anyway, this is a different style, not 5M scalping. But does tend to show, at least for today and these two pairs, Paulus' method has validity on a longer term chart as well. Both on entry, and use of the RSI to keep you out of a bad countertrend signal.

So thanks again to Paulus for bringing this style over. By coincidence, I attended Traders Int'l as well around that same time. If you took the class in Austin, who knows, we may have been sitting beside one another!
I have incorporated this system along 15min TF too plus other TFs, I have added CCI woodies and MACD, and look at the daily rythm indicated by CCI on 5 min and 15 min TF. I also use Delta with EW and Fibs, and try to trade only in the direction of Delta. I mostly trade G/U pair. I try not to take profits less then 20 pps, and allow the trade to run, in the direction of delta, monitorred on 5min, 15min, 1hr and 4hr TF. It was a challenging day today, I got several trades, the largest profit was 70+pps, and others around 30pps. I have left sdtill a lot on the table.
happy trading
2be
Make sure losses are small and profits are bigger!
  • #393
  • Jul 19, 2008 9:07pm Jul 19, 2008 9:07pm
Quoting Juan Grande
Followup from message above regarding attempt to incorporate this method into 15M chart with IB/OB entry. Note times are EDT. Note also, my stoch setting is slightly different.

F

You need more identically calculated indicators on there, that will make fundamental principles of supply and demand even less relevant than you've already made them.
  • #394
  • Jul 23, 2008 10:03pm Jul 23, 2008 10:03pm
Quoting 2be
I have incorporated this system along 15min TF too plus other TFs, I have added CCI woodies and MACD, and look at the daily rythm indicated by CCI on 5 min and 15 min TF. I also use Delta with EW and Fibs, and try to trade only in the direction of Delta. I mostly trade G/U pair. I try not to take profits less then 20 pps, and allow the trade to run, in the direction of delta, monitorred on 5min, 15min, 1hr and 4hr TF. It was a challenging day today, I got several trades, the largest profit was 70+pps, and others around 30pps. I have left sdtill a lot on the table.
happy trading
2be
Hi 2be, could you please post your template?
Thanks!!
  • #395
  • Jul 28, 2008 7:03pm Jul 28, 2008 7:03pm
Hey Paulus,
Are you still trading this strategy? I see you chime in every once in a while on Ex's thread. Just wondering if things are the same as far as the strategy and what kind of results you have been having. Thanks.
  • #396
  • Aug 22, 2008 7:19pm Aug 22, 2008 7:19pm
Hey there Paulus, Why did you vacate this thread I wonder?? I see you started a new thread, and personally, I think you had a good thing going here.

I took some of your strategy, and made my own. I trade mostly with bollinger bands instead of kelter, and 15 minute time frame... Im having such good results with it, Im thinking of making my own thread as there is no system quite like the one I use out there... well there are, but I got some custom alert indicators instead of the regular ones... rsi and stochs and Im wanting to get another alert indicator made... after a candle touches the outer bands, then I want the next candle that changes color on the close, to give me audio alert... Thats my buy/sell signal... if... rsi or stochs are also overbought/sold. Of course my system isn't traffic light clear as it does require discretion on entry and exit points.

Anyways... It would be nice to see you post again

Hope all is well with the family!
  • #397
  • Aug 23, 2008 2:54am Aug 23, 2008 2:54am
Hey dbeach,

sounds interesting, looking forward to the thread

PC

Quoting dbeach777
Hey there Paulus, Why did you vacate this thread I wonder?? I see you started a new thread, and personally, I think you had a good thing going here.

I took some of your strategy, and made my own. I trade mostly with bollinger bands instead of kelter, and 15 minute time frame... Im having such good results with it, Im thinking of making my own thread as there is no system quite like the one I use out there... well there are, but I got some custom alert indicators instead of the regular ones... rsi and stochs and Im wanting to get another alert indicator made... after a candle touches the outer bands, then I want the next candle that changes color on the close, to give me audio alert... Thats my buy/sell signal... if... rsi or stochs are also overbought/sold. Of course my system isn't traffic light clear as it does require discretion on entry and exit points.

Anyways... It would be nice to see you post again

Hope all is well with the family!
Less is more...
  • #398
  • Oct 9, 2008 1:51am Oct 9, 2008 1:51am
had a mail today about the K system

Im going to try and set aside 30mins daily to try and solve some of the problems we had.

I think its worth the investment it shows great promise and its fast and furious meaning if you only have 60mins a day to trade you are guaranteed 1/2 doz signals or so.

Other systems ive been trading give fewer but perhaps more reliable signals I will post back any fixes if you want to communicate personally on this system just drop me an email

cheers

paulus
  • #399
  • Oct 9, 2008 8:02am Oct 9, 2008 8:02am
Quoting Paulus
had a mail today about the K system

Im going to try and set aside 30mins daily to try and solve some of the problems we had.

I think its worth the investment it shows great promise and its fast and furious meaning if you only have 60mins a day to trade you are guaranteed 1/2 doz signals or so.

Other systems ive been trading give fewer but perhaps more reliable signals I will post back any fixes if you want to communicate personally on this system just drop me an email

cheers

paulus
Hi Paulus,
The 5min Keltner is a good filter to get in and out of the market. I trade cycles which can be observed on different TFs. I have added CCI Woddies set on 34 on 5min, as an additional indicator, and compare it in terms of cycle with the 15min (CCI set on 14), H1( CCI multi set at 5,8,14 and 34) and H4(DiNapoli settings and CCI multi) TFs. I know this is not the way you have originally intended to use this system, but it has been working for me as a trigger filter. The gearing between different TFs is usefull while trading both ways in relation to the trend discerned on a H4 or Daily TF.
Wishing you many good trades,
2be
Make sure losses are small and profits are bigger!
  • #400
  • May 3, 2009 12:06pm May 3, 2009 12:06pm
hello Paulus. I'm new in this but I think this is good.
can we continue on this?
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