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Is This My Holy Grail EA :D

  • #441
  • Jul 21, 2008 12:23pm Jul 21, 2008 12:23pm
Thank you so much for all your explaination NanningBob,

I didn't have any back minded idea when I posted this Laguerre...I don't know a lot about it too...it was just maybe to give you an idea.

I will continues to test with pleasure your system (as you with 0.01).

Without speaking about fundamentals...I don't know if you agree that the period in which we are is very difficult to trade forex...world market was move this afternoon by Bank of America, results less worse than expected...something we don't have in FNP...

Keep in touch

dohemi



Quoting nanningbob
I MIXED MY ANSWERS IN WITH YOUR QUOTE
  • #442
  • Jul 21, 2008 3:35pm Jul 21, 2008 3:35pm
...........and for this thread..........really nice thread, not yet using the EA ..... but I like the Indy's. Will try the EA once I can get the time to do so. IMO Thanks again, ut2DaMax
  • #443
  • Edited 6:33pm Jul 21, 2008 5:51pm | Edited 6:33pm
Quoting dohemi
Thank you so much for all your explaination NanningBob,

I didn't have any back minded idea when I posted this Laguerre...I don't know a lot about it too...it was just maybe to give you an idea.

I will continues to test with pleasure your system (as you with 0.01).

Without speaking about fundamentals...I don't know if you agree that the period in which we are is very difficult to trade forex...world market was move this afternoon by Bank of America, results less worse than expected...something we don't have in FNP...

Keep in touch

dohemi
I also am not that familiar with the indicator, I am sure it works for some people but I am unfamiliar with it. Thank you for posting it however. Most of my ideas have come off of peoples postings that get me thinking. How do I solve this??

One thing I like about Modified Martingale trading is you dont have to have exact entrance points. It is very forgiving. Instead of hitting a stop loss you get a reentrance but the same target of 100 TP. So if you do regular type trading and enter and it backs up 130 points you are 130 in the whole and your looking for 100 TP so you need 230 pips. In this you have reentered 3 times 3 x40 and are playing for a bigger profit and still am targeting 100 TP. Also you dont need all 100 to make a profit. Once you get around 50 pips you are close to break even or profiting and able to close out if you think its a bad trade or you can continue for the profit. Once you get used to this and learn how it works, it really takes the pressure off of your entrances and exits. All my trades retraced yesterday but are now in profit. GBP/JPY is 4 levels deep and the GBP/CHF is 2 levels deep. All my trades except 1 is 2 or 3 levels deep but they are now going in their predicted direction and look forward to some profits in the JPY session. In normal style trading all the trades would have hit stop losses but now they are great trades. If price ever does go whacko against you the trade is small and your loss is limited. That is how I control the martingale. I dont trade big enough on one currency to wipe me out. Yet I feel I am in a very high percentage trade.

4H trading is different than lower time frames in that some trades take days to develop and that is a different style of trading than what many people are used to.
  • #444
  • Jul 21, 2008 6:29pm Jul 21, 2008 6:29pm
Quoting nvwine
After your explanation it now works fine for me.
I don't think I ever properly conveyed my original point.
Your templates call for the indicator file 4H 1X2 cross and the zip file contains the indicator 1x2 no warning alert. So the indicator has to be re-named to work with the templates. Sorry for not clearly explaining my point.
The 1x2 is a warning system that will also play a sound but I am using an EA to make my trade entrance so I didnt need the sound on to alert me. In my folders to differentiate ones that make sounds with ones that dont I label them differently. That is why the two names may have confused you. I have the same indicator with the sound on and it is 1x2 cross. I also have 1x5, 1x3 etc. I have at times 8 demo accounts going and I label each indicator in the way I am using it for testing even though it is the same indicator in each case. It makes it easier for me to know what I am testing. If you have a warning indicator on 15, 18, etc. currencies, on up to 8 demo accounts, the dinging can drive you crazy. So this one is turned off.
  • #445
  • Jul 21, 2008 8:54pm Jul 21, 2008 8:54pm
Thanks for the speedy response. I took my first trade GBP/JPY last night and am currently at $174 profit! I'm trading demo with $3000 and .10 lots.
  • #446
  • Jul 21, 2008 8:54pm Jul 21, 2008 8:54pm
A couple of people emailed me wondering if I had a Laguerre indicator. You can find the indicator on the first page of Chandras indicators and it is a thread on how to use it and the other indicators she has. Here is the post if you want to see:

http://www.forexfactory.com/showthread.php?t=53189
  • #447
  • Jul 21, 2008 9:02pm Jul 21, 2008 9:02pm
Quoting Lincoln10
Thanks for the speedy response. I took my first trade GBP/JPY last night and am currently at $174 profit! I'm trading demo with $3000 and .10 lots.
Your a brave man my friend. I am now confident enough in the system to put 3000 in and trade dimes but I have been testing this for about 6 months. So you beat me to the punch. I wish you well. I have lost enough money my first two years trading to become very cautious, but this EA and everything here is my sum total of my experiences. This year I have made money trading and that makes me feel much better. My hope is always that others may also enjoy trading profitably. I guess I could have packaged this and sold it for 2-500 bucks but I prefer to share freely. I know the vast majority of traders will never feel comfortable with a martingale or even modified martingale system. Good luck and lets us know how you are doing both good and bad.
  • #448
  • Edited 11:37pm Jul 21, 2008 11:14pm | Edited 11:37pm
LOL, thats the first time I've been called brave for trading a demo account! In all actuality I'm going to try your system for a few months and if my account is anywhere above $3000 then I'll consider it a success. The account size means nothing - its the setups Im concerned with. The only reason I chose $3000 was because the default amount is $5000 and I remember you saying that you need at least $3000 to trade .10 lots so I arbitrarily chose that amount. Trust me though, if I ever trade real money, I'll heed your advice and start with pennies.
  • #449
  • Jul 22, 2008 1:04am Jul 22, 2008 1:04am
Quoting Lincoln10
LOL, thats the first time I've been called brave for trading a demo account! In all actuality I'm going to try your system for a few months and if my account is anywhere above $3000 then I'll consider it a success. The account size means nothing - its the setups Im concerned with. The only reason I chose $3000 was because the default amount is $5000 and I remember you saying that you need at least $3000 to trade .10 lots so I arbitrarily chose that amount. Trust me though, if I ever trade real money, I'll heed your advice and start with pennies.
OH ok, sorry I misunderstood. When I post this stuff I fear some one will take 2000 dollars and trade dollars and get wiped out like my one friend did. I told him to do pennies but he wouldn't listen. He also didnt listen when I told him not to buy houses in 2006 and now he is cleaned out. Lost everything. You cant trade when you are desperate and this EA is not a get rich quick system but I do believe it can be a steady winner. Be smart and learn how it works. I see things now I did not see several months ago and that is making the difference. Good luck.
  • #450
  • Jul 22, 2008 2:00am Jul 22, 2008 2:00am
Good day Nanning,

What do you think about EURCHF conditions?

dohemi

Quoting nanningbob
OH ok, sorry I misunderstood. When I post this stuff I fear some one will take 2000 dollars and trade dollars and get wiped out like my one friend did. I told him to do pennies but he wouldn't listen. He also didnt listen when I told him not to buy houses in 2006 and now he is cleaned out. Lost everything. You cant trade when you are desperate and this EA is not a get rich quick system but I do believe it can be a steady winner. Be smart and learn how it works. I see things now I did not see several months ago and that is making the difference. Good luck.
  • #451
  • Jul 22, 2008 7:08am Jul 22, 2008 7:08am
Quoting dohemi
Good day Nanning,

What do you think about EURCHF conditions?

dohemi

I entered that one Monday and is now in profit.

Currencies that meet my conditions just before today's US open are:

Aud/Nzd (STILL.......... it is the same conditions as yesterday, it has moved a whole 27 pips so far today) and the CHF/JPY

I took profits today on USD/CHF (34 pips) and USD/JPY (48 pips). I closed the NZD/JPY for 4 pips, the red and white were at the 0 line so I closed it. I closed the NZD/USD for 8 pips the white went up and the red line did not follow. Both of those werent going anywhere today so why eat up my margin. I am still holding my other trades. Gag me with a spoon but could the currencies move any slower today. A turtle could move faster. Not a good trading day.

PICS of chf/jpy qualifying to trade with the sell EA. NZD/USD white went to 100 and the red did not follow. Closed it for a very small profit, didnt think the trade was worth staying in. When I see this chart action it is not turning around so it will continue its downtrend and this was only a small retracement.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 17 KB
Click to Enlarge Name: nzd usd.gif Size: 15 KB
  • #452
  • Jul 22, 2008 7:54am Jul 22, 2008 7:54am
Thank you so much NanningBob,

Reading your email, I understand that your trading is based on three factors, the system (STOCHs + MACD), the EA and the last however not least your discretionary experience to exit or not.

Means that a trader following your strategy at 100% including the Sell/Buy EA, will have the same entries than yours however will have the probability be negative and you will be profitable thanks to your discretionary experience.

Am I correct?

dohemi

Quoting nanningbob
I entered that one Monday and is now in profit.

Currencies that meet my conditions just before today's US open are:

Aud/Nzd (STILL.......... it is the same conditions as yesterday, it has moved a whole 27 pips so far today) and the CHF/JPY

I took profits today on USD/CHF (34 pips) and USD/JPY (48 pips). I closed the NZD/JPY for 4 pips, the red and white were at the 0 line so I closed it. I closed the NZD/USD for 8 pips the white went up and the red line did not follow. Both of those werent going anywhere today so why eat up my margin. I am still holding my other trades. Gag me with a spoon but could the currencies move any slower today. A turtle could move faster. Not a good trading day.

PICS of chf/jpy qualifying to trade with the sell EA. NZD/USD white went to 100 and the red did not follow. Closed it for a very small profit, didnt think the trade was worth staying in. When I see this chart action it is not turning around so it will continue its downtrend and this was only a small retracement.
  • #453
  • Jul 22, 2008 8:35am Jul 22, 2008 8:35am
Quoting dohemi
Thank you so much NanningBob,

Reading your email, I understand that your trading is based on three factors, the system (STOCHs + MACD), the EA and the last however not least your discretionary experience to exit or not.

Means that a trader following your strategy at 100% including the Sell/Buy EA, will have the same entries than yours however will have the probability be negative and you will be profitable thanks to your discretionary experience.

Am I correct?

dohemi
Yes there is discretion when you exit a trade but there are some rules. Also 4H trading has to have some patience to let a trade work. You are trading weekly trends and 4H bars. That means a trade can go 1-4 days. Now some basic rules.
If all 3 lines are above the 80/90 line you put on the sell EA. It will enter the sell at the MA cross. All three below the 20/10 line you turn on the buy EA and the EA will buy at the MA cross. The EA will take profit every 100 points, however you can exit at anytime you think it is advantageous to you but here are some rules:

1. When the red and white lines are on the opposite side of the indicator, it is a good time to exit with profit.

2. If the arrow comes on indicating change of direction you may exit. This does not count at choppy times when you first enter.

3. When red and/or white lines cross the gold again after a run you can exit.

4. When you hit a major resistance or support line and you think price will not go further you can take profit.

5. If the white line takes off but the red line does not. This indicates that the trend is not changing and your looking at a whipsaw action. Exit with what ever profit you have or take the loss.

REMEMBER TO ALWAYS TURN YOUR EA OFF WHEN CLOSING TRADES OR IT WILL AUTOMATICALLY REENTER THE TRADE WHEN YOU CLOSE THE LAST ONE. I tend to trade conservatively and take my profits early. One of the most devastating things that can happen is to have a nice profit on the table and then you lose it. 4H trading can cover days of patience also.
  • #454
  • Edited 5:56pm Jul 22, 2008 2:45pm | Edited 5:56pm
I reviewed your trades and am glad to see that I'm taking the same ones as you. I was confused at first because I was trading the 4H method but I was exiting my trades at the end of the day (based on the daily method). Now I realize that I can let the trade play itself out and exit according to the rules and/or discretion.

In regards to activating the EA, I find it easier for me to have all 15 currencies on my MT4 window and then tab through each one until I find a setup forming. If it's a buy setup for example, I'll simply drag the Buy EA onto the chart and activate it. Once I feel like taking profit, I'll remove the EA from the chart and then close the trade. It's clean, simple, and works.
  • #455
  • Jul 22, 2008 5:58pm Jul 22, 2008 5:58pm
Quoting Lincoln10
I reviewed your trades and am glad to see that I'm taking the same ones as you. I was confused at first because I was trading the 4H method but I was exiting my trades at the end of the day (based on the daily method). Now I realize that I can let the trade play itself out and exit according to the rules and/or discretion.

In regards to activating the EA, I find it easier for me to have all 15 currencies on my MT4 window and tab through each one until I find a setup forming. If it's a buy setup for example, I'll simply drag the Buy EA onto the chart and activate it. Once I feel like taking profit, I'll remove the EA from the chart then close the trade. It's clean, simple, and works.
Yup, you got it

The GBP/CHF and GBP/JPY are qualifying as sells again today before the JPY market. I am at level 4 and 5 on them so I will watch them closely but they are both in good shape.

The one that could cause trouble now is the EUR/JPY. It has not retraced and the lines are approaching the 10 area. My juicy steak may not be one and an exit with a small loss is possible. I include a pic to show you. If I closed now my loss would be .80 cents. Not all the trades work but this gives you a method to know it is not working. If the red and white go down but price does not, it means that the uptrend will continue. I will close this trade at a small loss and then reenter when it qualifies again. So much for my juicy steak.

Actually this is a good thing for it gives me a chance to show you a great exit for a bad trade with a small loss. I also took my profit on the AUD/NZD trade now.
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy.gif Size: 16 KB
  • #456
  • Jul 22, 2008 6:08pm Jul 22, 2008 6:08pm
chf/jpy you could close at profit now but because the red and white are running tight together and the gold is heading south also, I will stay in the trade. I will let my profit run on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 17 KB
  • #457
  • Jul 22, 2008 6:20pm Jul 22, 2008 6:20pm
Aud/jpy, NZD/JPY and eur/chf qualify again now. I put both the aud/jpy and the NZD/JPY on the list because they are both bouncing off of a resistance line. There are several currencies you can see are almost there so it looks like a good trading day. Maybe by the euro session they will. USD/CHF, USD/JPY, EUR/USD, NZD/USD.

You will notice that many times a currency group will qualify all at once. Almost all the JPY groupings are qualifying at the same time, just not the eur/jpy. This is a really good sign.
  • #458
  • Jul 22, 2008 6:30pm Jul 22, 2008 6:30pm
I exited the EUR/jpy and I showed why. Now I will show why I stayed in the GBP/CHF even though price went against me. All the lines are near 100 so I still feel safe staying in. The EUR/JPY could move up strongly and send me near a death trade. I dont think that will happen with GBP/CHF. So you can compare the pics and see my logic. You may wonder why I stay in a trade that went strongly against me and not stay in a trade that is not moving.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp chf.gif Size: 18 KB
  • #459
  • Edited 10:42pm Jul 22, 2008 10:01pm | Edited 10:42pm
I exited CHF/JPY tonight with 100 pip profit!

For tonight I'm short USD/JPY, GBP/JPY, USD/CHF, EUR/CHF, GBP/CHF and I'm long NZD/USD.

One thing I noticed is that the regular MACD gold line is less volatile than your original MACD with Histogram gold line. Compare two charts on the same pair and you'll see that the MACD with Histogram will cross the 10 and 90 lines more frequently.
  • #460
  • Edited 5:01am Jul 23, 2008 4:47am | Edited 5:01am
Quoting Lincoln10
I exited CHF/JPY tonight with 100 pip profit!

For tonight I'm short USD/JPY, GBP/JPY, USD/CHF, EUR/CHF, GBP/CHF and I'm long NZD/USD.

One thing I noticed is that the regular MACD gold line is less volatile than your original MACD with Histogram gold line. Compare two charts on the same pair and you'll see that the MACD with Histogram will cross the 10 and 90 lines more frequently.
Yes I like the MACD with Histogram better also. I will post that indicator so others may look at it too.

I am watching my GBP/CHF and GBP/JPY. I am at level 7 on both of them and they are closing in on becoming possible death trades. I may have to close those two for a loss but I still have about 100 pips to play with so I will look for a retracement that gets me any kind of profit or lessens my loss. Once I am away from the 7 levels I will enter a sell on them again. They are the only two pairs I know that can go 400 points in one day and not retrace. Happens rarely but it does happen. The problem is not todays move, but I was into them at 3 or 4 levels when they jumped today. Will let you know how it goes. If you are at levels 3-5 you are still in great shape and dont have to worry. At level 7 I start planning an escape.

Attached is the MACD with histogram and a template to go with it. You can decide which one you like better.
Attached File(s)
File Type: mq4 MACD With Histogram.mq4   2 KB | 476 downloads
File Type: tpl 4h martingale macd.tpl   2 KB | 414 downloads
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