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The simple stupid system

  • #381
  • Aug 21, 2008 10:15am Aug 21, 2008 10:15am
Hi All,

I have been using 3 different TF ( 1min, 5min, 15min) with this simple system. TF1min will help me pinpoint entry point. For order management, i use an EA which i get from other forum. This EA help me place my SL, BE n also will adjust the SL limit.

I am sharing the EA for you all to test.

Many thanks to Wahnone for this great simple system
Attached File(s)
File Type: mq4 StepStopExpert_v1.1.mq4   5 KB | 528 downloads
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #382
  • Aug 21, 2008 10:28am Aug 21, 2008 10:28am
Quoting profi4554
Hi All,

I have been using 3 different TF ( 1min, 5min, 15min) with this simple system. TF1min will help me pinpoint entry point. For order management, i use an EA which i get from other forum. This EA help me place my SL, BE n also will adjust the SL limit.

I am sharing the EA for you all to test.

Many thanks to Wahnone for this great simple system
Thanks bro ...Will test
  • #383
  • Aug 21, 2008 10:41am Aug 21, 2008 10:41am
Quoting profi4554
Hi All,

I have been using 3 different TF ( 1min, 5min, 15min) with this simple system. TF1min will help me pinpoint entry point. For order management, i use an EA which i get from other forum. This EA help me place my SL, BE n also will adjust the SL limit.

I am sharing the EA for you all to test.

Many thanks to Wahnone for this great simple system
Thanks. Could you share how to use it?, as I am having problems getting it to work.
  • #384
  • Aug 21, 2008 10:43am Aug 21, 2008 10:43am
Quoting profi4554
Hi All,

I have been using 3 different TF ( 1min, 5min, 15min) with this simple system. TF1min will help me pinpoint entry point. For order management, i use an EA which i get from other forum. This EA help me place my SL, BE n also will adjust the SL limit.

I am sharing the EA for you all to test.

Many thanks to Wahnone for this great simple system
Thanks. Could you share how to use it, as I am having problems getting it to work?
  • #385
  • Edited 11:36am Aug 21, 2008 11:06am | Edited 11:36am
There are four parameter in the EA which can be customize/changeable.

InitialStop - This is your SL value once order been made.

BreakEven - Default at 20 pips after profit. The SL will change to ur initial point.

StepSize - The number of pips u want the SL value to move.

MinDistance - The gap between current price before any changes of movement.


If based on the default value at all parameter, after placing an order :

StopLoss will be automatically set at 30 pips from order price. SL value will move every 5 pips and with 10 pips minimum distance from current price. As the current price moving upwards/downwards, SL value will follow step by step. A green line will appear on the chart once pass BE point. The EA will continue adjust the SL untill u been stopout.
Attached Image
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #386
  • Aug 21, 2008 11:48am Aug 21, 2008 11:48am
Great simple system Wahnone! Thanks for sharing!

Caught 82 pips on my first real trade with the system last week after testing in a demo account for a while. Haven't had much time to trade since then as I was sick, but it's a great system so hopefully I'll be able to catch quite a few more pips with it.

Looking forward to the EA and would like to say thanks to everyone who's working to put it together.
  • #387
  • Aug 21, 2008 11:52am Aug 21, 2008 11:52am
Quoting Zen_Leow
azjeff has drawn my attention to this system ...
Good luck and good trading. =)

regards,
Zen
Zen, thank you for your help in creating an EA with Wahnone. I appreciate it and I'm sure everyone else here does too.

PD
  • #388
  • Aug 21, 2008 1:10pm Aug 21, 2008 1:10pm
the market is slow today
thats annoying
  • #389
  • Aug 21, 2008 2:47pm Aug 21, 2008 2:47pm
Quoting ingridk
the market is slow today
thats annoying
Took 40 pips long on eu/usd, could have been 130 (EA would've been handy there)
but had to go to bed.

thanks Wahnone for a neat little system & Zen
for starting work on the EA
  • #390
  • Aug 21, 2008 3:23pm Aug 21, 2008 3:23pm
Quoting ingridk
the market is slow today
thats annoying
Are you sure....With Oil price reaching a soaring price of about $6/barrel and the weakning $$.
  • #391
  • Aug 21, 2008 4:01pm Aug 21, 2008 4:01pm
There were definitely some opportunities out there today, and there also appeared to be a couple false signals, though they would have been minor losses. It was my first day trying the system, and I netted -4.5 pips. I missed out on the GBP/USD and EUR/USD moves. Being on USA ET, I don't get to the computer until 8 AM ET (13:00 GMT), and by then the GBP and EUR were already well into their moves up, so I was afraid to get into them at that point. If I had only known they would continue up all day! Oh well. My best trade today was on EUR/JPY for about +24 and worst was USD/JPY at 14:00 for -20 where the price completely reversed as soon as I entered. In retrospect, it didn't look like the Momentum had gone above the zero line (it merely touched it), although on the first few seconds of the next bar it definitely went above zero only to retreat later in the bar. I guess you really need to have the momentum above zero at the very close of the bar (for a buy). I used a trailing stop of 20 on my four trades today. I would venture with the GBP/USD, I would use a trailing stop of 30.

Looking forward to getting better at the system. I can tell it's definitely got merit. Thanks for sharing it, Wahnone.

Scott

Quoting femzy112
Are you sure....With Oil price reaching a soaring price of about $6/barrel and the weakning $$.
Prices are never too high to begin buying or too low to begin selling.
  • #392
  • Aug 21, 2008 4:04pm Aug 21, 2008 4:04pm
Krufx, that's where you set a stoploss about 10 pips under your current profit and then go to bed. Your head will hit the pillow knowing you can do no worse than 30 (very respectable) but with a chance for a lot more if the trend continues. And what a surprise you would have had in the morning.

Scott

Quoting krufx
Took 40 pips long on eu/usd, could have been 130 (EA would've been handy there)
but had to go to bed.

thanks Wahnone for a neat little system & Zen
for starting work on the EA
Prices are never too high to begin buying or too low to begin selling.
  • #393
  • Aug 21, 2008 5:36pm Aug 21, 2008 5:36pm
Forgive me if there has already been a discussion about this, but has anyone else noticed that there is almost always at least a minor retrace immediately after a signal is given? Does anyone who trades this system regularly wait for the retrace before entering or do you find that it's better to get in right away so that you don't risk missing it if it doesn't retrace? Any advice on this would be much appreciated.

Thanks!
  • #394
  • Aug 21, 2008 5:47pm Aug 21, 2008 5:47pm
Quoting thehenryfam
Krufx, that's where you set a stoploss about 10 pips under your current profit and then go to bed. Your head will hit the pillow knowing you can do no worse than 30 (very respectable) but with a chance for a lot more if the trend continues. And what a surprise you would have had in the morning.

Scott
Very true Scott, should of, could of, would of, but did'nt

Kev
  • #395
  • Aug 21, 2008 6:06pm Aug 21, 2008 6:06pm
Is there anyway we can setup a chat room for this thread??
  • #396
  • Aug 21, 2008 6:28pm Aug 21, 2008 6:28pm
Tradingrooms[dot]com has free rooms available for such a purpose. Someone would just need to set it up and share the info here.

Scott

Quoting Forextrader4
Is there anyway we can setup a chat room for this thread??
Prices are never too high to begin buying or too low to begin selling.
  • #397
  • Aug 22, 2008 1:17am Aug 22, 2008 1:17am
Quoting thehenryfam
Tradingrooms[dot]com has free rooms available for such a purpose. Someone would just need to set it up and share the info here.

Scott
That would be up to Wahnone, seeing he is the author to this
  • #398
  • Edited 2:40am Aug 22, 2008 2:39am | Edited 2:40am
Wahnone,

I was unable to attach the file on a personal message. So I am attaching it here. I was talking of adding a moving average to the momentunVt and take the trade when the Moving avg of the mom has been crossed along with the conformation from the 5 and 8 EMAs

Sorry thats the best i can do with this picture.
Attached Image (click to enlarge)
Click to Enlarge Name: moving average of Ind.GIF Size: 38 KB
  • #399
  • Aug 22, 2008 3:09am Aug 22, 2008 3:09am
+ 40 pips so far on short gu
  • #400
  • Aug 22, 2008 3:35am Aug 22, 2008 3:35am
Quoting Zen_Leow
azjeff has drawn my attention to this system and perhaps I can do up an EA for it. maybe someone has already done one but I thought one more EA won't hurt and I tend to prefer writing EAs with my customisation capabilities.

What I need now is the confirm set of rules to follow. Is it still going according to post 1? or has it evolved throughout the posts? I have no time to read thru everything as I'm concurrently doing a few other systems' EA as well.

aside from the specific rules, I need the actual indicators attachments too. there's so many posted in the attachment list I don't know which are the right ones to use.

providing the mq4 files for the indicators would be helpful too as I can then use less of iCustom which can significantly increase the speed of backtesting.

the sooner I get these info, the sooner I can start work on developing the EA. Hope to hear from you guys soon.

Good luck and good trading. =)

regards,
Zen
Sorry my stupid question, what is EA? I'm new here
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