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Trend Follower 5 Minute System

  • #2,001
  • Sep 5, 2008 10:45pm Sep 5, 2008 10:45pm
Quoting Schwegi
Ok i made a new version. The EA will now take trades if the conditions are met at the bar or 1 bar after the cross. Have fun

Pilatus try this version. Maybe there are some errors from the trailing stop because i have no expiration time.
Hi, Schwegi
Could you add mini lot option in your EA please. I would like to try with my mini account :-)
Thank in advance.
Cha,
  • #2,002
  • Sep 6, 2008 7:01am Sep 6, 2008 7:01am
Hi chawichsak,

added a variable to modify your lot size.

But i think its not a good idea to let this EA run if you look at the backtests
Attached File(s)
File Type: mq4 TrendFollowerRainbowMethodV21.mq4   11 KB | 1,314 downloads
  • #2,003
  • Sep 9, 2008 3:00am Sep 9, 2008 3:00am
Hi Pilatus
Great post!
Can you explain why you took that signal instead of the one earlier in time?

Thanks
Houston

Quoting pilatus
Schwegi thanks for your opinion for signal. On this picture we have good signal where lag is below 0.75. SO this is another confirmation how broker quotation are diferent and how that qoutation has influence on indicators manifestation. First doubtful signal is from IBFX and second one is from original MT4 platform. Just want to alert people that is maybe usefull to check another broker than pass the good signal and a good trade like this one, just because indy does not show proper signal at some brokers charting platform.
Happy Trading! Houston
  • #2,004
  • Sep 9, 2008 2:10pm Sep 9, 2008 2:10pm
Quoting houstonn
Hi Pilatus
Great post!
Can you explain why you took that signal instead of the one earlier in time?

Thanks
Houston
Unfortunately I did not take this signal because I was not near the comp. Houston, this is the same signal, same pair but if you look closer the laguerre is not showing exactly the same thing. In first example laguerre is crossing 0,75 level at bar after the red arrow (signal for short enter) and in a second example laguerre is crossing 0.75 level on signal bar. (again red arrow). Look at the pictures. Both signal are valid but problem is that in first case you may doubt to enter or not because of dubious laguerre crossing 0.75. So I just wanted to alert traders of that system, to check another platform or another broker quotation if they doubt in validation of signal.
We had great signal yestrday for short on EUR/JPY.
Today valid signal for long USD/JPY but unfortunately bad trade.
If you have any further question about this system feel free to ask I will answer you.
Attached Image(s) (click to enlarge)
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  • #2,005
  • Sep 10, 2008 1:48am Sep 10, 2008 1:48am
Hi Pilatus
Thanks for clearing up my confusion
I noticed you have the SignalTrendFollower EA alert running. From your experience, how well does it model the actual trading signal?
Also, what your exit strategy?

Thanks a bunch!
Houston
Happy Trading! Houston
  • #2,006
  • Edited 3:27am Sep 10, 2008 2:58am | Edited 3:27am
Quoting houstonn
Hi Pilatus
Thanks for clearing up my confusion
I noticed you have the SignalTrendFollower EA alert running. From your experience, how well does it model the actual trading signal?
Also, what your exit strategy?

Thanks a bunch!
Houston
Well, this EA is good for alert me when I am doing something else and can not seat in front of screen. That is all what I need of it. But I valuate by myself signals for entering. I have never entered in position just because EA alerted me that all conditiones are met. I am looking for best signal, not just signal. According to my expirience best signal is when:
1. Guppy are not expanded, beggining of new trend or move.
2. Price was steady for some time before signal. Small range of 30-40 pips depends on which pair I look.
3. ALLWAYS in direction of major trend which can be analyzed on higher time frame 1h, 4h. Using trend lines. fib, etc.
4. Never enter if price bounced from some major support or resistance and then signal occured. Sometimes price will pass or brake support or resistance but most time will not.
5. Enter if price pass or brake some major support or resistance and than bounced from it and signal occured.
One thing else, only if there is a good trend like now EUR/USD, AUD/USD, EUR/JPY etc. you will find good signals. If price is in range which you can see on higher time frame you will have less signals and most of time not good one or with bad risk/reward. This is case now with USD/JPY.
This system require a lot of patient for waiting good signal and then waiting that new position develop in trend. If price does not go in direction of entered positon immediately dont panic just wait and be patient.
EXIT!
Well this is the hardest part of this system, best thing is to exit on some pivot point but problem for newbies is how long to wait and on what pivot exit and with what positon? Half, all etc. This is individual. But if you dont know, slope line will tell you when to exit when it change colour, or when price close on the other side of volatility chanel. Maybe sometimes to late because on that way you loose aobut 30-40% of move you had. But is exact and can help you to not exit bofore you should not.
Although this system looks pretty simple it is not, and require a lot of effort to be succesful. I am in love with this system but I am still learning it. That is my expirience and I will be very happy if I can hear some other expirience.
Have a nice day!
  • #2,007
  • Sep 10, 2008 3:18am Sep 10, 2008 3:18am
Hi Pilatus
Thanks for your kind reply. I believe people participating will definitely benefit from your post. I like this system a lot too. Just need time to tweak my mind to think like the system.
Happy Trading! Houston
  • #2,008
  • Sep 10, 2008 4:04am Sep 10, 2008 4:04am
Quoting houstonn
Hi Pilatus
Thanks for your kind reply. I believe people participating will definitely benefit from your post. I like this system a lot too. Just need time to tweak my mind to think like the system.
If you monitor more pairs, it is very important to consider correlations between them. I want to say if you get 2 signals ,for example, EUR/USD short and AUD/USD long, one of them is not correct. Or if you get EUR/USD and USD/JPY long something is wrong.....!!Be careful!!! Pairs that move in same direction are EUR/USD; GBP/USD; AUD/USD but that depends on many factors. USD/CHF is moving oposite from EUR/USD 99% most of the time. There is a whole science about correlations between pairs and how to calculate it. But is good to know that when USD is weak it will be weak on all USD pairs and oposite. EUR/JPY soemtime follow EUR/USD sometimes USD/JPY.....but if EUR is weak it will be in bear trend too.
  • #2,009
  • Edited 5:41am Sep 10, 2008 4:46am | Edited 5:41am
Thanks Pilatus

I was wondering anyone got the last alert from the EA on M5. Long Euro , Long cable, Short CHF all got signals and in the right correlation direction too! And then cable collapsed 60 pips! That's some rare occurrence right? Good that I am on demo trade
This proves not to trade against higher TF trend! Well, just got in on the "right" direction on M30. Making good pips already
Happy Trading! Houston
  • #2,010
  • Sep 10, 2008 6:41am Sep 10, 2008 6:41am
Quoting houstonn
Thanks Pilatus

I was wondering anyone got the last alert from the EA on M5. Long Euro , Long cable, Short CHF all got signals and in the right correlation direction too! And then cable collapsed 60 pips! That's some rare occurrence right? Good that I am on demo trade
This proves not to trade against higher TF trend! Well, just got in on the "right" direction on M30. Making good pips already
That is right. Correlation was ok but signal were against major trend. EUR/USD is in bearish trend since 15.07.2008. Cable too. USD/CHF bullish trend. SO read my post under number 3. ALLWAYS follow major trend....etc.
Patient....that is name of that system.
  • #2,011
  • Sep 10, 2008 11:20am Sep 10, 2008 11:20am
Hi Pilatus
I have definitely learned my lesson. That's why there was this USDJPY long signal on M5 and I didn't take it!
Thanks
Happy Trading! Houston
  • #2,012
  • Sep 11, 2008 2:07am Sep 11, 2008 2:07am
Hi pilatus.
great system, i'm gonna use it on demo looking good.
wasn't it a valid signal on usd/chf ?
and can you tell me plz what ea you are running ?
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  • #2,013
  • Sep 11, 2008 4:36am Sep 11, 2008 4:36am
The signal can be valid but not good. It's not and automatic system i think. Use signals alerts from this thread where u get only valid sygnals, than check higher trend - 1hour. Dont trade against it. Than look if trade is worth to get in to it - TP>SL, than trade. thats how im using this system, and i use only about 1/3 - 1/4 valid system sygnals.
  • #2,014
  • Sep 11, 2008 4:40am Sep 11, 2008 4:40am
Quoting HUnter123
Hi pilatus.
great system, i'm gonna use it on demo looking good.
wasn't it a valid signal on usd/chf ?
and can you tell me plz what ea you are running ?
U should be checking this template out in EUR/JPY pair...u will see how gr8 the system is,....

Sonic
  • #2,015
  • Sep 11, 2008 4:51am Sep 11, 2008 4:51am
big short indeed but if you took the first signal and put 25-30 sl you would have been stopped.
another thing - for a short trade i need to have the laguerre crossing the 75 from under or can i take it when it is under the line like here in the pound? is it a valid signal or because we were already under the 75 line we should have taken it?
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  • #2,016
  • Sep 11, 2008 4:54am Sep 11, 2008 4:54am
wrong one in eur/yen
imeant to put this one
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  • #2,017
  • Sep 11, 2008 9:56am Sep 11, 2008 9:56am
Hi All,

New to this thread, it's taken me about a week to read from start to finish

Firstly, let me be the next in a long line to thank the wicker for sharing his system with the community. I think it's rather remarkable gesture!

Let me start off by saying that I have ZERO experience in currency trading, but it has always intrigued my immensely. I have followed financial markets/stocks closely for the last few years and after seeing this thread decided it was time to get my feet wet per se. So please bear in mind that while trying to learn this system, I am also trying to learn fx as a whole.

I started trying out the system about a week ago with a demo account and BAM, my first five trades realised a profit of 204 pips. Needless to say I was pretty excited until my next 10 trades resulted in 10 straight loses and having to reset my account twice lol.

So anyways, to cut a long story short, I was hoping that if I posted a few of my trades here you guys could maybe give me a few pointers as to where I'm going wrong. FYI, I am not using the EA, I am using the original system and rules as per Wicker's blog.

On to the trades, here are my last two trades/losses, any input would be great.

I guess the first trade wasn't wrong as such, I just seemed to get in too early and it seems to happen alot. On the pic it doesn't look like MACD was negative, but it was at the instant I took the trade. The second trade just looked perfect.....clearly it wasn't

Anyways, sorry for the long post and I appreciate any feedback I can get!
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"The market giveth and the market taketh away"
  • #2,018
  • Sep 11, 2008 10:38am Sep 11, 2008 10:38am
Hi Urban .... I am new here also

I am a novice like yourself at this system.

I've been learning forex for a few months and I can tell you there is a lot to learn ! :-)

I think what would be useful with this method is if some 'die hard' Trend Follower followers could pass on any lessons they have leant while trading this method. It is clear that only a small % of the alerts are actually good trade entry signals as I get inundated with alerts during choppy corrections in the market etc.

Anyone care to pass on any lessons learned using TheWicker's method ?

I am sure it must be important if there are pivot lines near a signal etc.
  • #2,019
  • Sep 11, 2008 10:44am Sep 11, 2008 10:44am
false signal in eur/usd or did i miss something here?
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  • #2,020
  • Sep 11, 2008 10:50am Sep 11, 2008 10:50am
Quoting urbanFX
Hi All,

New to this thread, it's taken me about a week to read from start to finish

Firstly, let me be the next in a long line to thank the wicker for sharing his system with the community. I think it's rather remarkable gesture!

Let me start off by saying that I have ZERO experience in currency trading, but it has always intrigued my immensely. I have followed financial markets/stocks closely for the last few years and after seeing this thread decided it was time to get my feet wet per se. So please bear in mind that while trying to learn this system, I am also trying to learn fx as a whole.

I started trying out the system about a week ago with a demo account and BAM, my first five trades realised a profit of 204 pips. Needless to say I was pretty excited until my next 10 trades resulted in 10 straight loses and having to reset my account twice lol.

So anyways, to cut a long story short, I was hoping that if I posted a few of my trades here you guys could maybe give me a few pointers as to where I'm going wrong. FYI, I am not using the EA, I am using the original system and rules as per Wicker's blog.

On to the trades, here are my last two trades/losses, any input would be great.

I guess the first trade wasn't wrong as such, I just seemed to get in too early and it seems to happen alot. On the pic it doesn't look like MACD was negative, but it was at the instant I took the trade. The second trade just looked perfect.....clearly it wasn't

Anyways, sorry for the long post and I appreciate any feedback I can get!
i believe the slope direction was really against you in both of your trades.
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