The simple stupid system

Hi all...

i am newbie in Forex trading and have been reading through all the post on this thread ... however i have some questions regarding the entry/exit signal..
hope some one could clarify

Entry Signal
Is there a sequence that we must follow before enter a buy signal?
for example we first need to wait for 5/8 ma crossed upward (indicating uptrend), then follow by MomentumVT above 0 level, QQE pointnig up, finally Dinapoli Stoch bullish crossover, then only we enter a BUY Trade? or it doesnt really matter and no such sequence?

The reason is that some time 5/8 ma has crossed upward but Momentum VT still under 0 level.

Exit Signal
Same as above, is there a sequence we have to follow before enter a short?


Re-Entry Signal (Buy)
In the first post you mentioned that we need to wait for all other indicators to be in the buy direction. Then wait for the Stoch indicator to turn from Sell into Buy (crossed upward) then only we enter. So the key indicator for re-enter is the Dinapoli Stoch?

Thanks a lot.

red
my take on this is just to have all the inicators agreeing. It doesn't have to happen in any certain order.

hi

i test the method and i think it's a good method : Thanks Wahnone!

m78 thanks for your ea but i test the ea and it open trade and it close quickly!

have you a second version?

thanks

Today was a pippin' day for all of us , I guess, because I ended with 300+ pips today(13 Aug) on GBPUSD.

Hey Wahone,
What initial stoploss are you setting on your first entry?
I've been playing with this live, however fighting with initial stoploss to keep me in it long enough to catch the trend.

Thanks

Hi rich,

You trade 1 hr TF, I guess you must set profit target to get R:R ratio. If you do what method you are using to set TP?

Or anyone who set TP on this system - please share your ideas

Thank you,

Pete.

Hi Wahnone,

You trade only between 6-7 gmt & 17-18 gmt that's is very short working hour, it's great. I saw your post 11 you said you trade from 5 -19 gmt or may be you change you trading time cos this system made big pips

Thanks,

Pete.

If you use EA, I think we have to let the system run all day and all night

Hi, all guys

Very glad to have the chance to discuss with everyone here. I'm a newbie for FX, but I have read lots of posts here and I think I am making progress.

The system described in this article is very useful, I think. So I must give my sincere thanks and regards to the author, Mr. Wahnone, for your great idea; as well as Mr. m78, who wrote the great idea to an EA.

As to the problem of this EA that Mr. Wahnone commented at the early page(How to exit our positions), I think it's easy to slove for we should only change the code in the original EA, from

" if ((lasttradedir != dircross && imdiff >= closeemadiff) || qqeacross) { "

to

" if ((lasttradedir != dircross && imdiff >= closeemadiff) && qqeacross) {"

only.This can satisfy the comment that Mr. Wahnone meationed above.

On the other hand, I found that it is not effective if the EA uses a trailing stoploss. I have tried to add the trailing stoploss funtion to the EA, but the backtest result is not so good. Because even we use trailing stoploss,when it is hit but the entry situation has not changed yet, the EA will accord the old trend to open new trades again. In many cases,it is dengenrous as the old trend maybe will end soon, that is, the EA have to take long position at a top or a short position at a bottom. Although the EA is able to close the positions when the entry situation totally changed to the opposite direction, it is too late as the the profits got from the repeated trailing stoploss will loss again at the moment the new entry exits.

I have no new idea to slove this problem. Certainly, if we use trailing stoploss manually, the reslut will be still good. Maybe this is a pity as an EA is just a robot only, It is difficult to control all well like humanbeens.

I agree on Mr. Wahnone's comment meationed above, that is, we can get great results too if we use larger TF such as 1H instead of 15 Min when we depend the EA to work only, as the backtest results for 1H were extremely
better than those of 15 Min TF.

Sorry for my poor English.

Best regards.

can you please post the screenshot ?

m78

I also would like that clarified please. 2 hour total trading window is quite a change from 14 hrs.

Regards. Luk.

Have a think about the times 18 - 6 = 12

6-7 gmt & 17-18 gmt look more like 2 separate sessions per &, hence 2 hrs..... 6-7 thru 17-18 would be 1 session 12hrs. Maybe i misunderstood it.

No drama. You didn't know what he meant , and I didn't know what you meant.

All good, english is my 2nd languo, as im sure its for many if not most members here so sometimes there are some confusions so its better to double check.

Hello people, This is a great method by Wahnone, take it or leave it. As for the time, i guess this is what it means : either between 6-17 GMT OR 7-18 GMT. Hope this settle the drama. Hunt for the pips guys. Thanks. Nerry.

Not sure where are you getting this "drama" from when there wasn't any at all. I think some people are little too sensitve and need to relax instead of trying to see something that isn't there. If there was drama i wouldn't be nice at all.

Regards. Luk.

The EA doesn't take one trade today on my ODL Demo account . But I found it has taken 2 trades in today's backtesting till now. The first is a short position opened at 1.8650 at GMT 01:15 and closed at 1.8720 at GMT 08:30.The second one is a long position opened at 1.8720 at GMT 08:30 (just 10 mins ago) and now is still in trading.

Totally it gained -70 pips for GBP/USD in 15M TF till now. I don't know how does such difference happen. Maybe there is something wrong with my MT-4 or the broker's server?

Is anyone here same as me?

BTW, I let the EA run all day and all night without any rest.

What color do you want the indicator to be in?

Thanks Wahnone for sharing this system with us. I will try it on a demo !

What I will add to this system for myself is that i will look at the overall trend on a 1H chart. If it is down then i will only enter the shorttrades as longtrades will mostly not last long.