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Attachments: X50 - M5 trend following
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X50 - M5 trend following

  • #301
  • Jul 22, 2008 10:35am Jul 22, 2008 10:35am
Yes,

Those are EMAs (sorry, forgot to mention).


Quoting piprac
The mas are EMAs, 5 & 8?

edit: I missed that great run too.l
Jeff Singer, K2KV
  • #302
  • Jul 23, 2008 3:09am Jul 23, 2008 3:09am
K2KV,
 thanx for the input, thats an interesting addition. I use 5/8 crosses , along with the 21 and 55 and 200 Ema's amongst other things , with my main strategy for 15min charts, but have never thought of using them on 5min charts.Trk
  • #303
  • Jul 23, 2008 10:25pm Jul 23, 2008 10:25pm
i think this system work for me, thx
Lazy Forex
  • #304
  • Jul 24, 2008 12:12pm Jul 24, 2008 12:12pm
Can someone point me to the rhythm indicator? Search as I may, I cannot find it. Thanks!
  • #305
  • Jul 25, 2008 12:43am Jul 25, 2008 12:43am
Hi Jerz,
I have never seen a separate mq4 file for the rhythm indicator.
I may be wrong but, every time I load all 4 of the indicators in the 1st post and then use the X50 template (also in the 1st post) then it seems to appear on my charts.

I have done this on 3 different platforms , and the rhythm indicator appears on all of them as long as I load all 4 of the other indicators into my indicators folder.

Have you tried this already? or are you wanting to use the rhythm indicator separately?

hb2,
hope you manage to find this method very profitable, keep us posted of your results.

Trk
  • #306
  • Jul 28, 2008 11:46am Jul 28, 2008 11:46am
here is only the 4th losing trade I have had with this system...(-24pips)

I was going for the continuation with a cross back up above the 50 line on the Stochs, the AS was still alright for a continuation at the time , as well as the MACD which was above the water line.

I suppose the Stochs could have been better with the %D being above the %K (blue above red) rather, but sometimes things just don't go right,its just part of the game.

So far though the success rate of this system for me has been 12 wins and 4 losers with a total pip gain of 112 pips, so no complaints.

Trk
Attached Image (click to enlarge)
Click to Enlarge Name: eur long.gif Size: 18 KB
  • #307
  • Jul 28, 2008 11:50am Jul 28, 2008 11:50am
Good going; I was successful until the last 2 trades - pushed too hard and gave it all back. But the EMAs have helped me spot better trades so I should get better with practice. thanks all, p.
  • #308
  • Jul 28, 2008 1:06pm Jul 28, 2008 1:06pm
Hi TRK,

If I'm reading your chart correctly (from the tiny blue arrow at the top by the shooting star), the AS indicator is telling you NOT to take the long trade.

The fact that the blue AS line was above the red was insignificant. More telling was that is was pointing downward at the time, and the red line was at the bottom, getting ready to rise up (accompanied by a fall in price).

When reading the AS indicator, the most important factor is the strength of the move from the line at the bottom of the window. If red is at the bottom and it starts to bend upward, prices should begin to fall. If the blue line is at the bottom, prices should rise as it turns upward.

So, the more vertical the line moves up from the bottom, the more reliable the indication of subsequent price movement (red line=short, blue line=long). Once that line begins to turn downward, all bets are off.

Also, just for clarification, your stoch window is comprised of two separate stochs -- 5,3,3 and 14,3,3. One is red, the other blue. They are not the D & K lines you referred to. You could trade with just the 5,3,3 if you wish, but having the 14,3,3 moving along with it does add some additional confidence.

You're doing well!!

Hope that helps...


Quoting Trk
here is only the 4th losing trade I have had with this system...(-24pips)

I was going for the continuation with a cross back up above the 50 line on the Stochs, the AS was still alright for a continuation at the time , as well as the MACD which was above the water line.

I suppose the Stochs could have been better with the %D being above the %K (blue above red) rather, but sometimes things just don't go right,its just part of the game.

So far though the success rate of this system for me has been 12 wins and 4 losers with a total pip gain of 112 pips, so no complaints.

Trk
Jeff Singer, K2KV
  • #309
  • Jul 28, 2008 1:49pm Jul 28, 2008 1:49pm
Hi k2kv,
thanx for the insight, its much appreciated.
I will be more wary of those points in future, up till now I have been focusing on and trading only the standard setups , I was trying to get in on a continuation move but I think I need to re-read the criteria for that sort of trade.

thanx again for the advice its a great help.

cheers

piprac,
thanx , I'm sure with help and advice from traders like K2KV , Demundus , Ocelot and others I will get a real handle on this method and boost the success rate even further.
glad to hear you are also doing very well with this system.

Trk
  • #310
  • Jul 28, 2008 3:08pm Jul 28, 2008 3:08pm
You're quite welcome.

But, just to set the record straight -- I never did say I was doing well with this!

Frankly, trading 5M charts had become a bit too choppy/stressful so I've moved to 1H and daily charts for now. Nevertheless, I am familiar with the X50 rules and indicators, as I had participated early on with Canuck while he was defining the strategy (I only gave it a name).

That said, sometimes the 1H charts can put me to sleep, so when that happens I tend to come back down to 5M to see if there are any promising X50 trades in the making.

Take care, good trading...

Quoting Trk
Hi k2kv,
thanx for the insight, its much appreciated.
I will be more wary of those points in future, up till now I have been focusing on and trading only the standard setups , I was trying to get in on a continuation move but I think I need to re-read the criteria for that sort of trade.

thanx again for the advice its a great help.

cheers

piprac,
thanx , I'm sure with help and advice from traders like K2KV , Demundus , Ocelot and others I will get a real handle on this method and boost the success rate even further.
glad to hear you are also doing very well with this system.

Trk
Jeff Singer, K2KV
  • #311
  • Jul 28, 2008 4:43pm Jul 28, 2008 4:43pm
Hi guys..

Jeffs point with the AS indicator is excatly correct on the 5min TF if you wait for the cross you may have missed the trade, also look for the angle up from the bottom and a seperation of the two lines the wider the more strength...also as a side the setting 14,3,3 Stoch is better suited to a daily...and in this case will only give you a overall trend..

Happy hunting..

Glenn
  • #312
  • Jul 28, 2008 5:19pm Jul 28, 2008 5:19pm
Thought I would add charts with the indicator...as they say a picture is worth a thousand words...

The second one is a modification of mine when i traded this method ( for a few weeks) the Williams just adds the volume coming in so you can see if the move is strong or weak...

Glenn
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro 5min.gif Size: 21 KB
Click to Enlarge Name: euro 5min 2.gif Size: 24 KB
  • #313
  • Jul 29, 2008 2:46am Jul 29, 2008 2:46am
k2kv ,
sorry for the misunderstanding, I was referring to piprac who said he has been successful up until the last 2 trades.

I agree with you about the 5min time frame though , I trade 15min and hourly TF mainly and use this method only occasionally , it just sits on my 4th monitor until I see something of interest...but with the high success rate I have experienced I guess I got a little over confident wanting to enter on a continuation.

glenn5t ,
thanx for the info , Its much appreciated.

Trk
  • #314
  • Jul 29, 2008 4:22am Jul 29, 2008 4:22am
Canuck,

Hi there mate - Just wanted to know are you still using the UT/Ultra Trend Indicator? I have had this one for over a year and have played around with it. It looks promising.

Just wanted to know what your current setup is - I am using your origional posted on thread #1.

Cheers,

VB,
  • #315
  • Edited 9:32am Jul 29, 2008 6:56am | Edited 9:32am
Hi VB ,
I may be wrong but I have not personally seen Canuck active on this thread since his last post on the 5th April , hopefully he still monitors this thread and will answer your question.

Trk

P.S : anybody using the EA developed for this system? does it work? I haven't seen any posts with results from the EA , also is anyone using the indicator?
  • #316
  • Jul 29, 2008 2:13pm Jul 29, 2008 2:13pm
Thanks for the heads up Trk,

Has anyone had much success with this system? - I gave it a go last night with mixed results on the 5M.

Is anyone using the Ultra Trend/UT indicator to confirm entry at all? Is that part of the rules? I haven't read past post #183 - so I'll have another look a bit later on tonight when I get time.

Thanks again Trk,

Cheers to you all,

VB,




Quoting Trk
Hi VB ,
I may be wrong but I have not personally seen Canuck active on this thread since his last post on the 5th April , hopefully he still monitors this thread and will answer your question.

Trk

P.S : anybody using the EA developed for this system? does it work? I haven't seen any posts with results from the EA , also is anyone using the indicator?
  • #317
  • Jul 29, 2008 2:51pm Jul 29, 2008 2:51pm
Quoting VitaminBeer
Thanks for the heads up Trk,

Has anyone had much success with this system? - I gave it a go last night with mixed results on the 5M.

Is anyone using the Ultra Trend/UT indicator to confirm entry at all? Is that part of the rules? I haven't read past post #183 - so I'll have another look a bit later on tonight when I get time.

Thanks again Trk,

Cheers to you all,

VB,
I have been trading this system for the last couple of weeks and it is the best I have found.

I have been trading Forex for the last 3 years and now understand how the market moves.

With this system it gets you in very early in any move - it is just a case of timing the exit.

I take the slowing down of the predominant AS as the exit point.

Stop loss at the low of the indicating candle.

Best set ups - AS moving away and Stochs not in overbought/oversold area at time of trade.

Hope it helps!

Al

P.S. I use it on 1H charts
  • #318
  • Jul 29, 2008 3:08pm Jul 29, 2008 3:08pm
VB ,
I have had pretty good success so far even though it is not my main trading method...up to date i have had 14 trades 4 losers and 10 winners with the pip count at +154.

I believe Demundus , Ocelot and others who have a real handle on this method are producing very good results as well. They have been a real help to me with good advice and great ideas to identify high probability trades.

I would recommend you try Ocelots method of placing pending orders 1pip above or below the high/low to keep you out of losing trades as far as possible.

also k2kv posted a very useful indy (5/8 MA cross) that also helps in identifying better setups. (not making these recommendations cos I'm a pro with this method, I have learned A LOT from these guys and others on this thread , so it might help you as well)

Keep reading the posts brother , hope you will have success with this method as well.

ACartwright,
glad to hear you having success as well! Interesting you are using it on the hourly charts, Iv been thinking about that myself lately.

Trk
  • #319
  • Jul 29, 2008 3:16pm Jul 29, 2008 3:16pm
Quoting Trk
VB ,
I have had pretty good success so far even though it is not my main trading method...up to date i have had 14 trades 4 losers and 10 winners with the pip count at +154.

I believe Demundus , Ocelot and others who have a real handle on this method are producing very good results as well. They have been a real help to me with good advice and great ideas to identify high probability trades.

I would recommend you try Ocelots method of placing pending orders 1pip above or below the high/low to keep you out of losing trades as far as possible.

also k2kv posted a very useful indy (5/8 MA cross) that also helps in identifying better setups. (not making these recommendations cos I'm a pro with this method, I have learned A LOT from these guys and others on this thread , so it might help you as well)

Keep reading the posts brother , hope you will have success with this method as well.

ACartwright,
glad to hear you having success as well! Interesting you are using it on the hourly charts, Iv been thinking about that myself lately.

Trk
I do not have the discipline or skill to use this system on a 5 miunte chart.

My personal opinion is that you never get a real handle on the s/r.

Hourly charts give you a better overview of trend direction - you do not need any ma's on a hourly chart as you should be able to see which direction price is going.
  • #320
  • Jul 30, 2008 2:02am Jul 30, 2008 2:02am
ACartwright,
Do you use the standard indicator settings and just apply them to your 1hr chart or do you adjust the settings of any of the indicators?

Trk
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