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  • #741
  • Aug 12, 2008 8:05am Aug 12, 2008 8:05am
Quoting lite27
I made 7 trades today on 15 minutes and every trade was a loss. I have followed the system very acurately and presice. I think it shoul be done much more to make this system effective.
Bonjour lite27

Your SL were maybe too short and this morning was not good with this system (too many range)
  • #742
  • Aug 12, 2008 11:49am Aug 12, 2008 11:49am
Flamenco,thank you very much for your support and desire to help me. I am in forex for 8 years already. I have studied many systems and developed my owen systems. After I found this thread, I was very interesting in Waterflame system. I feel,that this system must have very strong performance. Its very unusually for me,that I am so interested in some particular system. Whats happened today in Euro/USD pair was unpleasant,but it was a range market after very strong fall of euro. So,its normall,that market range and try to correct. Flamenco, maiby it is possible to meet peaple,who use this system,in some chat? Maybe on skype or somewere else? Together its much more effective and what is also important, interesting. Thank you once more and many pips, Cheers,
  • #743
  • Aug 13, 2008 1:44pm Aug 13, 2008 1:44pm
I think,that this system can not be used as the main system, just as a sacondary. Well,during tranding times there many system which work, but in my humble opinion this system need to be improved much much more. It is very raw and gives many fals signals. But it is my opinion only. Sorry, for this pessimism,guys, cheers,
  • #744
  • Aug 13, 2008 3:42pm Aug 13, 2008 3:42pm
im finding when I wake up early, before 6am EST the signals are good, from then till arouind 10 am est. after that, there seems to be lots of false signals on the 15 minute chart. when I trade later on in the day - from 9pm EST - around 1am est I trade the 1 hour.. I believe this system needs to be traded at specific times for better results,, I do like this system, although I am hating the EUR/CHF at the moment
  • #745
  • Aug 13, 2008 3:43pm Aug 13, 2008 3:43pm
Quoting lite27
I think,that this system can not be used as the main system, just as a sacondary. Well,during tranding times there many system which work, but in my humble opinion this system need to be improved much much more. It is very raw and gives many fals signals. But it is my opinion only. Sorry, for this pessimism,guys, cheers,
Maybe this system don't suit to you, but it's a very good system for main system... Have you demo traded it before ?

I'm follow him since beginning, and i can say you I'm very happy with it, because simplicity... With time I have make my own rules (on the trend by EMA34 ie)

Look picture (EJ15") :

What do you think ? Just following anle of EMA34 ? Looking for a greater TF ?

Now, look for same pair on 1H :

A short from 168.42... what do you prefer ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 25 KB
Click to Enlarge Name: eurjpy1.gif Size: 25 KB
  • #746
  • Aug 13, 2008 4:13pm Aug 13, 2008 4:13pm
hey there remmie

where did you get that MA trend bar ? I would like to aquire something like that, I have added the 200ma ti the charts but would like to be able to see the overall trend without swithcing charts..
  • #747
  • Aug 13, 2008 4:22pm Aug 13, 2008 4:22pm
Quoting Hanoverfiste
hey there remmie

where did you get that MA trend bar ? I would like to aquire something like that, I have added the 200ma ti the charts but would like to be able to see the overall trend without swithcing charts..
Hello,

It's just a self made indic, just for see overall of any MA on any lenght (see comments on parameters...

Maybe i can improve it
Attached File(s)
File Type: mq4 MA_Trend.mq4   10 KB | 554 downloads
  • #748
  • Aug 13, 2008 4:38pm Aug 13, 2008 4:38pm
Thanx Remmie!
  • #749
  • Aug 13, 2008 6:31pm Aug 13, 2008 6:31pm
Is everyone getting a fair amount of trades where the cci and the ma crosses aren't in sync?? I ahven't taken some trades today that turned into good movers because the cci was already well up or down by the time the 3ema and the 34 sma crossed on the 15 min. chart. Also, waterflame never said (i don't believe) but on the ma's are they supposed to be applied on the close of the candle for both?? I tend to get very few that really sync up, lots are a cnadle or so off, but the ones i'm talking about in the beginning of the post are entirely different...an example is the jpy crosses right now...wed. 7:30 pm est usa. the cci'sbeen running cranzy down in the minus' and we just now had a 3//34 downcross sell signal on the chart....weird!!
  • #750
  • Aug 13, 2008 6:42pm Aug 13, 2008 6:42pm
[quote=Konstas;2159991]

Trader4life,
with all my respect to you - you are not trading Elite as it should be - so, be careful with your advices... ppl listen to you and may went into a different direction. I saw you trading - you scalp 3-5 pips per trade; weanwhile, Waterflame doesn't even mention it. He speaks about good profits!!!

quote]


Konstas,

Thank you for the tip on awareness of impacting others. i will try to keep that in mind with future postings.

I have and do admit my exit strategy does wonder off from Waterflame's rules of exit. Because I look to scalp during Asian session (6pm to 9:30pm eastern - New York) with a specific daily pip goal to get 9-12pips, i feel the exit strategy change is needed ~90% of the time. At the present time, i am not able to trade during open of london or US session. Sure wish i could and sure would like too as i look back at the charts on a daily basis saying WOW, WOW, WOW what text book trade for nice double digit pip gains. Waterflame's exits work wonderful during those times. However in my experience with the asian session and my daily pip goal, i need to alter the rationale for exiting a trade with profit. I try to make it clear that i exit based on my personal goals and everyone else needs to establish their own rationale for exiting a trade by following Waterflame's or they create their own style. The exit to a winning trade is the toughest and probably the most important variable in any system (after learning to follow the rules 100% of the time).

If you or anyone else is experiencing profitable (equal or greater than 12pips consistently) scalping during the Asian session (6pm to 9:30pm eastern - New York), please share!

I am always open to improvements, ideas, comments, suggestions, constructive criticism, etc. if it means coming closer to achieving my trading plan's mission statement.

MISSION STATEMENT:

This business plan is my trading procedure documented to describe in detail all aspects of a position that I, as a trader, will follow without flaw. This plan will explain my actions, objectives, risk tolerance, individual circumstances, personality traits, tools, criteria for entry and exit (trading methodology), establish a general approach, and procedures in the markets in order to achieve my goals. This outline defines my course of action in a disciplinary way in order to preserve my capital from excessive risk. The end result from following these procedures is to be proficient in all the trading skills transforming me into a consistently successful master trader.

Regards,

T4L
  • #751
  • Aug 13, 2008 6:45pm Aug 13, 2008 6:45pm
Quoting PippinAintEZ
Is everyone getting a fair amount of trades where the cci and the ma crosses aren't in sync?? I ahven't taken some trades today that turned into good movers because the cci was already well up or down by the time the 3ema and the 34 sma crossed on the 15 min. chart. Also, waterflame never said (i don't believe) but on the ma's are they supposed to be applied on the close of the candle for both?? I tend to get very few that really sync up, lots are a cnadle or so off, but the ones i'm talking about in the beginning of the post are entirely different...an example is the jpy crosses right now...wed. 7:30 pm est usa. the cci'sbeen running cranzy down in the minus' and we just now had a 3//34 downcross sell signal on the chart....weird!!

I come across many signals where the ma crossing is one candle later too. maybe waterflame's latest update will address this comment.

I see EJ on 15min. two bars ago have a cross down for a short with ma and cci on the same bar. would be up 20pips. did not take trade.
  • #752
  • Aug 13, 2008 7:23pm Aug 13, 2008 7:23pm
I think,that in the trending market every, not very bad system works. But most of time we have a ranging market. And whats do we have here? Very simple. This system does not work in about 60-65% of time when we have a flat market,as many other do the same. So, it is a trandfollow system,as many other are. So, whats to do about 65% of time? To use stochastik, EMAs and candle patterns in order to be a winner. It is my opinion. Maiby, my opinion is wrong. It is possible, but it is just my opinion. But I think,this system, if improved, can give good results. Again, it is just my opinion. If somebody used this system can share her or his results, please, do it and lets we help each other to improve our perfomance. Cheers,
  • #753
  • Edited 8:21pm Aug 13, 2008 8:19pm | Edited 8:21pm
Quoting lite27
I think,that in the trending market every, not very bad system works. But most of time we have a ranging market. And whats do we have here? Very simple. This system does not work in about 60-65% of time when we have a flat market,as many other do the same. So, it is a trandfollow system,as many other are. So, whats to do about 65% of time? To use stochastik, EMAs and candle patterns in order to be a winner. It is my opinion. Maiby, my opinion is wrong. It is possible, but it is just my opinion. But I think,this system, if improved, can give good results. Again, it is just my opinion. If somebody used this system can share her or his results, please, do it and lets we help each other to improve our perfomance. Cheers,
I think that this system does rather well in a ranging market. The 34ma and 3 ma correct themselves and normally become viable a couple of times / day. I don't think this system would like anything better than moving +- 100 pips/day w/i a 300 pip range for an extended period of time. I believe this system would be a gold mine in that environment. Right now, all the "systems" are having problems. Unless you're on the right side of one of the big usd cross moves...or were lucky enough to catch the big gbp move like last night, things are going to be a little dicey. The world banks are pushing the currencies towards their "new normal" rates, and until they're finished we're just along for the ride (hopefully) or getting our row boats swamped by the sunami's (hopefully not). It makes the 20 pip quick hitters on the 15 min.charts look pretty good and if you're lucky enough to get onboard for one of the tidal waves like last nights 300 pip monster on the gbpusd...smile and send some to your favorite charity!!
  • #754
  • Aug 13, 2008 11:06pm Aug 13, 2008 11:06pm
Quoting lite27
I think,that in the trending market every, not very bad system works. But most of time we have a ranging market. And whats do we have here? Very simple. This system does not work in about 60-65% of time when we have a flat market,as many other do the same. So, it is a trandfollow system,as many other are. So, whats to do about 65% of time? To use stochastik, EMAs and candle patterns in order to be a winner. It is my opinion. Maiby, my opinion is wrong. It is possible, but it is just my opinion. But I think,this system, if improved, can give good results. Again, it is just my opinion. If somebody used this system can share her or his results, please, do it and lets we help each other to improve our perfomance. Cheers,
Not all currency pairs are ranging. I have attached the GBP/USD daily chart. Placing a sell order at 1.9786 on July 30 would have earned 1,084 pips by CoB New York market yesterday.

Do not let yourself get locked into just one or two currencies or time frames.

Just my two cents worth.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Daily Chart.JPG Size: 147 KB
  • #755
  • Aug 14, 2008 8:34am Aug 14, 2008 8:34am
very good system if you find good exit i trade it with euro/usd and usd/jpy
  • #756
  • Aug 14, 2008 9:08am Aug 14, 2008 9:08am
YOU CAN USE LAGUERRE TO CONFIRM ENTRY AND EXITS
use settings Gamma 0.80, levels 0.15, 0.85, 0.45 bars to read 9500
for entry long laguerre above 0.15 level for short below 0.85 LEVEL
Exit for long laguerre starts come down below 0.85
for short starts to come up to level 0.15 try it and reply
sorry for my english
Attached File(s)
File Type: mq4 Laguerre.mq4   3 KB | 482 downloads
  • #757
  • Aug 14, 2008 7:30pm Aug 14, 2008 7:30pm
Hi everyone,

there is no HOLY GRAIL! Every system has losses. this one is not exception. the point is that the losses are small - 10-15 pips. but profits are big: 50-200 pips if you catch a wave. having such risk/profit ratio you should be in profit on a long run.

this sytem gives 40-50% wins - (even if it is 35%) the profit is bigger than small losses - you just have to believe in the system.

Of course, if you can do tech, analysis on H1-D1 - it will increase your win percentage to 50-70%. Just learn how to recognize when market is indecisive.

I personally trade Eur/usd and USD/JPY always. Plus sometimes I work with eur/jpy and gbp/usd.

I use 10ema as exit only if a trend was fast - almost like a spike - it usually means quick "come back" - so if it crosses 10ema - I'm out. if a trend grew gradually - I wait a crossover of 3ema and 34sma.
but in most cases I trust my guts (not always works though).

just my few ideas, if they work for you - nice! If not, seek your own!

God bless
  • #758
  • Aug 15, 2008 1:18am Aug 15, 2008 1:18am
[quote=Konstas;2166632]Hi everyone,

there is no HOLY GRAIL! Every system has losses. this one is not exception. the point is that the losses are small - 10-15 pips. but profits are big: 50-200 pips if you catch a wave. having such risk/profit ratio you should be in profit on a long run.

Excellent advise Konstas! Markets are a little crazy these days and many systems/strategies aren't working. Way too many false break-outs and reversals.

Timing is crucial right now in knowing when to stay out of the market and not trade. Impatient traders and those who believe indicators (any and all of them) work consistantly to predict market movement are watching their accounts (demo or real) depleting. Lower time frame traders are getting hammered!
  • #759
  • Aug 18, 2008 7:12am Aug 18, 2008 7:12am
Quoting funtos
YOU CAN USE LAGUERRE TO CONFIRM ENTRY AND EXITS
use settings Gamma 0.80, levels 0.15, 0.85, 0.45 bars to read 9500
for entry long laguerre above 0.15 level for short below 0.85 LEVEL
Exit for long laguerre starts come down below 0.85
for short starts to come up to level 0.15 try it and reply
sorry for my english
Hi Funtos,

need to be tested, but seem filtered some trades...

thank !

  • #760
  • Aug 19, 2008 7:26am Aug 19, 2008 7:26am
I personally, find this system very bad on ranging market and not the best one on trending market. So, my opinion is,that this system can not be used as the main system, but just as a secondary system. But it is just my opinion,guys. Sorry for my pessimism,
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