The simple stupid system | Page 11 | Forex Factory

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The simple stupid system

  • #201
  • Aug 11, 2008 6:51am Aug 11, 2008 6:51am
Quoting mlawren2
Hi Guys,
I have been looking at a couple of threads, this being one of them, with trading ideas and thought I would like to try them out. It seems most people on this forum use metatrader.I was using another chart package, so I thought in order to get the correct settings and be able to use the EA I would also use the same…………..So I downloaded metatrader from IBFX on their demo package and set forth. Oh how I hate changing charting packages, seems harder to master them than to trade Forex !!!! Could anyone please help and explain the following to me in simple terms
How do I get the various files ( mq4, ex4, tpl, etc) which are listed in the various trading systems, onto my charts.
Any help would be really appreciated
Thanks
MQ4 files are the uncompiled form of the ex4 file. You have to compile them first with the metaeditor into the ex4 format which is what metatrader uses. The indicators and the expert advisors are usually in the mq4/ex4 format while templates are the tpl files.
Put your indicators(ex4) files in: metatrader/experts/indicators directory and your templates(tpl) in the: metatrader/templates directory. The expert advisors should be in: metatrader/experts directory. Then close your charts and reopen it. You will find the indicators/experts/templates in place. Hope I have answered your questions.
  • #202
  • Aug 11, 2008 6:56am Aug 11, 2008 6:56am
Thanks Wahone, all oK now, looking forward to studying the system
  • #203
  • Aug 11, 2008 6:57am Aug 11, 2008 6:57am
Quoting cwave
I know this is going to be a dumb question but what is the meaning behind the numbers on that clock.

Thanks,
cwave
That is the time left for the current bar to end.
  • #204
  • Aug 11, 2008 7:53am Aug 11, 2008 7:53am
I knew the answer was sitting right in front of my face.
I think this system has great potential.

Happy Trading,
cwave
  • #205
  • Aug 11, 2008 9:59am Aug 11, 2008 9:59am
Stupid question...
What does the QQE actually indicate?

Also, how long should you wait between the QQE alert and the crossover or stoch trigger?

Thanks, I think this system fits within my trading style quite nicely
  • #206
  • Edited 12:01pm Aug 11, 2008 11:29am | Edited 12:01pm
This strategy really works great. The EA that is in this thread doesn't work all that well. It has never taken a trade and when I take one manually, the EA, if enabled, will close out a portion of my lot every tick that goes in profit. I think there is some work to be done on this EA. So can we get the bugs worked out of it or have some one else build an EA that works well with some options on exiting like a trailing stop or close portion of the trade when a certain target has been hit. Also have the time of day that it is trading as a customizable as well. I would do it but don't have any programming skills.

I have been using this strategy on the 5m charts on the eurusd, gbpusd, usdjpy, usdchf, and the eurjpy and having great success with it. An EA would just be nice so I can sleep at night instead of watch the charts.

On my chart you will notice that I have the CCI 8 on there. I use this to help determine an exit point. So I wait for the Stochs to cross and the CCI to cross and that's when I get out.
Attached Image (click to enlarge)
Click to Enlarge Name: simple eurusd.gif Size: 17 KB
  • #207
  • Aug 11, 2008 11:42am Aug 11, 2008 11:42am
Just to clarify on my exits. I will exit when ANY two of the indicators have turned. the reason I said I use the CCI is because it generally turns before any of the others. My SL is set at 20, but don't know if that is optimal. And I trade the hours suggested by Whanone. Open to suggestions on the SL.
  • #208
  • Aug 11, 2008 11:50am Aug 11, 2008 11:50am
Or if we can build an EA that will monitor all the indicators and then send an email to us when everything lines up for a possible entry, that would be pretty sweet as well. That way you can take a look at the trade and enter at your discretion.
  • #209
  • Aug 11, 2008 12:01pm Aug 11, 2008 12:01pm
Hey Bradley,
On your first long entry on your chart, I noticed there wasn't a QQE alert, are you not using that as an entry?
Nice trades btw
  • #210
  • Aug 11, 2008 12:04pm Aug 11, 2008 12:04pm
I just exited on a short position on the eurusd that netted 36 pips. Entered on the 15:35 candle at 975 and exited on the 16:55 candle at 939.
  • #211
  • Aug 11, 2008 12:05pm Aug 11, 2008 12:05pm
Taz, the QQE is there, it is just below the view of the screen, so I do use it.
  • #212
  • Aug 11, 2008 12:10pm Aug 11, 2008 12:10pm
Very good, thanks

Still hoping someone can enlighten me as to what the QQE indicates, and how many bars should elapse between the QQE alert and other triggers lining up.
  • #213
  • Aug 11, 2008 12:31pm Aug 11, 2008 12:31pm
Quoting Bradev
This strategy really works great. The EA that is in this thread doesn't work all that well. It has never taken a trade and when I take one manually, the EA, if enabled, will close out a portion of my lot every tick that goes in profit. I think there is some work to be done on this EA. So can we get the bugs worked out of it or have some one else build an EA that works well with some options on exiting like a trailing stop or close portion of the trade when a certain target has been hit. Also have the time of day that it is trading as a customizable as well. I would do it but don't have any programming skills.

I have been using this strategy on the 5m charts on the eurusd, gbpusd, usdjpy, usdchf, and the eurjpy and having great success with it. An EA would just be nice so I can sleep at night instead of watch the charts.

On my chart you will notice that I have the CCI 8 on there. I use this to help determine an exit point. So I wait for the Stochs to cross and the CCI to cross and that's when I get out.
Why you didnt buy or sell in the next QQE arrows? (the 3 ones that are at the end of the SS)
  • #214
  • Aug 11, 2008 12:35pm Aug 11, 2008 12:35pm
I did trade those, the first long one ended up -6, then short for +7, then long for -11.
  • #215
  • Aug 11, 2008 12:57pm Aug 11, 2008 12:57pm
Quoting Bradev
This strategy really works great. The EA that is in this thread doesn't work all that well. It has never taken a trade and when I take one manually, the EA, if enabled, will close out a portion of my lot every tick that goes in profit. I think there is some work to be done on this EA. So can we get the bugs worked out of it or have some one else build an EA that works well with some options on exiting like a trailing stop or close portion of the trade when a certain target has been hit. Also have the time of day that it is trading as a customizable as well. I would do it but don't have any programming skills.

I have been using this strategy on the 5m charts on the eurusd, gbpusd, usdjpy, usdchf, and the eurjpy and having great success with it. An EA would just be nice so I can sleep at night instead of watch the charts.

On my chart you will notice that I have the CCI 8 on there. I use this to help determine an exit point. So I wait for the Stochs to cross and the CCI to cross and that's when I get out.

Please can you provide the version of CCI above? Thanks
  • #216
  • Aug 11, 2008 12:59pm Aug 11, 2008 12:59pm
Here is the CCI indicator.
Attached File(s)
File Type: mq4 CCI 8 .mq4   3 KB | 677 downloads
  • #217
  • Aug 11, 2008 4:09pm Aug 11, 2008 4:09pm
Bonjour à tous

CCI 8 seems better and faster than momemtum to show a trend.
It is not 100% reliable but nothing is perfect.

What are your opinion about this suggestion !?

Thank you to all to share your trading system
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd.gif Size: 13 KB
  • #218
  • Aug 11, 2008 4:47pm Aug 11, 2008 4:47pm
Hi Bradev, great trades today, and thanks for CCI8.
Cantafio asked whether you traded the 3 trades showing on the screen shot, there were also a further 2 trades before the trade at 15.35, did you trade these also ?
there are lots of positives about the system but today on E/U shows how MA's if not filtered successfully will allow whipsawing
  • #219
  • Aug 11, 2008 5:02pm Aug 11, 2008 5:02pm
Quoting mlawren2
Hi Bradev, great trades today, and thanks for CCI8.
Cantafio asked whether you traded the 3 trades showing on the screen shot, there were also a further 2 trades before the trade at 15.35, did you trade these also ?
there are lots of positives about the system but today on E/U shows how MA's if not filtered successfully will allow whipsawing

mlawren, Yes I did take those trades as well for -10 and -12. And you are absolutly right about the whipsaw action on the 5 min chart. The 15 min chart can be a little bit better as far as that goes and will keep you in trades longer and can give you better results. I just prefer to trade the 5 min charts as it gives me more action for an unpatient person.
  • #220
  • Aug 11, 2008 5:19pm Aug 11, 2008 5:19pm
Here are my results from today. I should note however that the eurusd is the only pair that I trade in the 5 min charts. The others are traded on the 15 min charts. (if I trades all on the 5, I would be executing trades all day and that's not too practical).

EURUSD - 8 trades 4/4 net 162 pips
GBPUSD - 2 trades 2/0 net 130 pips
USDJPY - 4 trades 2/2 net 13 pips
USDCHF - 3 trades 2/1 net 75 pips

Total pips for the day; 380 pips

Thanks for sharing this method Wahnone!
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