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X50 - M5 trend following

  • #321
  • Jul 30, 2008 3:50am Jul 30, 2008 3:50am
Quoting Trk
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
There is no tweaking with the indicators - I just use the same standard ones for the hourly charts!
  • #322
  • Jul 30, 2008 5:06am Jul 30, 2008 5:06am
ACartwright ,
thanx , I'm going to be looking at applying the the X50 template to my hourly charts soon ,I'm having good success with the 5min charts but I must admit prefer slightly longer time frames.

your SL and PT I imagine at least double in size. I think I'm going to have to work with 45-65 pip SL on hourly charts rather than the normal 20-30 on 5min charts.

Thanks for the input AC.

Trk
  • #323
  • Jul 31, 2008 5:52am Jul 31, 2008 5:52am
All,
Is any one using the EA or indicator created for this method?
I find it surprising that there is little discussion about the EA and Indy ,
is it because they are inaccurate or simply don't work?

If you use one of these or even both please post your results , or at least your impression of their accuracy and usefulness.

Thanx

Trk
  • #324
  • Jul 31, 2008 10:47am Jul 31, 2008 10:47am
TRK,

You might want to consider a SL which is derived from the technicals on your chart, rather than just using some arbitrary number.

In other words, think about placing SL at a price where, if hit, you would consider the trade dead. That might be, for example, the other side of the present or previous bar, or some S&R pivot level, fibs, etc.).

Then, you can determine where you expect to take profit (also from the technicals on the chart) and weigh the risk against the potential reward in order to determine if the trade will be worth your while.

Arbitrary SL is not necessarily a bad thing, but if you are a tech trader (as most forex traders are), your charts should be able to guide you in all of your decisions, not just price movement.

Good trading...

Quoting Trk
ACartwright ,
thanx , I'm going to be looking at applying the the X50 template to my hourly charts soon ,I'm having good success with the 5min charts but I must admit prefer slightly longer time frames.

your SL and PT I imagine at least double in size. I think I'm going to have to work with 45-65 pip SL on hourly charts rather than the normal 20-30 on 5min charts.

Thanks for the input AC.

Trk
Jeff Singer, K2KV
  • #325
  • Jul 31, 2008 11:03am Jul 31, 2008 11:03am
k2kv,
thanx for the advice , I agree with you whole heartedly , and I employ that on my main system of trading, I thought though that seen as we are dealing with a mechanical system that static SL's might be the norm.

thanx for setting me straight (I must admit I was using static 25 pip SL on the 5min system)

I'll be more open to using the technicals on my hourly charts to choose SL placements.

thanx again.

Trk
  • #326
  • Jul 31, 2008 3:45pm Jul 31, 2008 3:45pm
Quoting k2kv
TRK,

You might want to consider a SL which is derived from the technicals on your chart, rather than just using some arbitrary number.

In other words, think about placing SL at a price where, if hit, you would consider the trade dead. That might be, for example, the other side of the present or previous bar, or some S&R pivot level, fibs, etc.).

Then, you can determine where you expect to take profit (also from the technicals on the chart) and weigh the risk against the potential reward in order to determine if the trade will be worth your while.

Arbitrary SL is not necessarily a bad thing, but if you are a tech trader (as most forex traders are), your charts should be able to guide you in all of your decisions, not just price movement.

Good trading...
I agree!

I use the the low of the idicating candle as the stop loss. Depending on the pair it could be 15 to 35 pips. If there is a small stop loss i.e. 7 pips I always go a little more as there is a higher chance that it could come back lower.

TP when the as start to even off.
  • #327
  • Aug 24, 2008 5:22am Aug 24, 2008 5:22am
Anyone still trading LIVE this system?I want to know more about it's results,what is it's win/loss ratio and drawdown.
  • #328
  • Aug 24, 2008 6:06am Aug 24, 2008 6:06am
Quoting vladv
Anyone still trading LIVE this system?I want to know more about it's results,what is it's win/loss ratio and drawdown.
Looks like the thread starter seems to have disappeared for a few months now.
  • #329
  • Aug 24, 2008 8:10am Aug 24, 2008 8:10am
Quoting vladv
Anyone still trading LIVE this system?I want to know more about it's results,what is it's win/loss ratio and drawdown.
You try you know.
  • #330
  • Aug 27, 2008 9:33am Aug 27, 2008 9:33am
I have also been wondering what has happened to Canuck, I did not see him get any infractions so he cant be banned.

Maybe moved on to bigger things, got too busy or just lost interest.

I am still also wondering if the EA for this system works. I havnt been able to get it to take even 1 trade, even though I think the settings are all correct.

Trk
  • #331
  • Sep 1, 2008 2:14am Sep 1, 2008 2:14am
hi every one,
i wanted to know where do you put your SL and when you decided to exit from the trade?

thank's

zada
  • #332
  • Jun 8, 2009 10:56am Jun 8, 2009 10:56am
Hello,

Thank you for sharing this system. I am using it and have a set up on my chart which is described in post#1 plus some exponential moving averages to help to make better trading decisions.

Try it:
EMA 5 close
EMA 13 open
EMA 21 close
EMA 55 close
EMS 200 close

The 200 shows you if we are in a bullish or bearish area. If the 55 is obove the 200 and the 21 is crossing the 55 from below you have a confirmation for a bullish trend. Now you look for the 5 to cross the 13 from below and your signel to buy is confirmed.Compare it with the MACD 5,13,1.
The same for sell orders. The 55 must be below the 200 and the 21 is crossing the 55 from above. Now you look only that the 5 is crossing the 13 from above. Your sinal is confirmed. I like to see the ema's which gives me a better picture. And also: After crossing5/13: if the 5 is moving away from the 13 your trend gets stronger. After crossing 21/55: If the 21 is moving away from th5 55 your trend gets stronger.

I also have Bollinger Bands 20/2

Sorry for my english, hope it is onk to understand. Just put the ema's on you chart and have a look if you like it.

Holger
  • #333
  • May 28, 2013 8:25pm May 28, 2013 8:25pm
Hi all,

I must say that after weeks of testing the method, and by adding Golden MACD as substitute for H4 MACD as per Post #1, I am more confident with my trades, and I now could accept if my SL is hit and go on looking for next better entries; and I sort of find out that a better trade is the one with the Golden MACD's bar not too flat, that is to say IF the bar is growing bigger in size, I could ride on until it changes colour to DarkGrey. So, If I'm already in the trade and the MACD bars are flat, I just close my post.

Cheers,

Safuan
Attached File(s)
File Type: ex4 Golden MACD G2.ex4   4 KB | 432 downloads
  • #334
  • Jun 14, 2018 9:52pm Jun 14, 2018 9:52pm
System still helping to time entries....10 pips on AUDJPY bounce.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2018-06-14_2245.png Size: 24 KB
  • #335
  • Jun 15, 2018 7:31am Jun 15, 2018 7:31am
CanuckCT

Thank you! I'll try.
  • #336
  • Jun 18, 2018 8:30am Jun 18, 2018 8:30am
Interesting looking system. Is there any benefit to trying to trade in the direction a higher time frame trend perhaps avoiding getting caught in a small pullback?
Emotion - it steals your money.
  • #337
  • Last Post: Jun 26, 2018 12:49am Jun 26, 2018 12:49am
hi canuckct
thanks for sharing the system is there an alert for the system
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