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  • #2,021
  • Sep 11, 2008 11:03am Sep 11, 2008 11:03am
I've seen the discussion regarding slope direction earlier in the thread, but according to Wicker he ONLY uses the slope for exits.

However, having said that, do you seem to have better stats if the slope is above/below the trade and do you take direction into account?

Thanks for the input!
"The market giveth and the market taketh away"
  • #2,022
  • Sep 11, 2008 12:11pm Sep 11, 2008 12:11pm
Quoting urbanFX
I've seen the discussion regarding slope direction earlier in the thread, but according to Wicker he ONLY uses the slope for exits.

However, having said that, do you seem to have better stats if the slope is above/below the trade and do you take direction into account?

Thanks for the input!
That is one of the reasons for my previous post - is the slope of the line to be used for entries ?

Thanks
  • #2,023
  • Sep 11, 2008 3:21pm Sep 11, 2008 3:21pm
Hi all!

Thank you TheWicker for this wonderfull system.
I've been following this thread for some time now quitly in the back

I have made an EA but its still in the making. Its based on your system wicker with a little customization. Modifying was necessery becouse computers are dumb and they dont know exactly what is going on on the charts.

I will upload EA shortly. Just wanted to say hi for now.

Skorpijon
  • #2,024
  • Sep 11, 2008 5:31pm Sep 11, 2008 5:31pm
Can someone tell me what template or EA everyone is now using for this system? Is it different than the original Trend Follower template from the creator's website?

Also, using that template, GPB/USD is showing support and resistance levels, but on the EUR/USD chart, it isn't. Has anyone else noticed this?

Using the template and indicators on the ONE MINUTE chart, it looks to me like the arrows almost always indicate direction the currency is going (really short-term), regardless of the conditions being met for a trade. Is anyone just using the arrows alone for scalping?
  • #2,025
  • Sep 11, 2008 5:52pm Sep 11, 2008 5:52pm
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!
Hey urban!

I've found that G/J is a little to voliate for this system. If you look at the reccomend pairs for this system G/J isn't one of them. A pretty voliate pair that does work is E/J. This system needs MM added to it. I know after winning you might be tempted to use more of your account % but you really shouldn't be ever risking more than 2% of your account. With this system I risk 2% every trade and after 5 losses I drop the % to 1% until I get a few more wins.

It has really allowed me to stay in the game and reap the benfits of catching long trends. Another thing I like to add is that I have a pip bank, where once I'm up a certain amount for the day I call it a night. Sometimes it causes you to miss out on massive gains, but I'd rather gain 50pips a day than fight for the extra 50 the entire day. It gives me a lot more time to live life.

Hope I helped... some... haha

Edit: By the way, the pairs I trade are: E/U, E/J, G/U, Usd/Chf, U/J, A/U, N/U, Usd/Cad
  • #2,026
  • Sep 12, 2008 3:07am Sep 12, 2008 3:07am
Quoting HUnter123
false signal in eur/usd or did i miss something here?

I took this signal too. Yesterday USA session was very hard time. There was a lot of good signals to go short on GBP/JPY, CHF/JPY, EUR/JPY, EUR/USD, CAD/JPY.


First signals were very good. Fast profit. But on the evening (Europa time) USA indexes made from -2% to +1% and sytuation has changed.

Maybe transactions should not be make after big move, or maybe we all should look at global sytuation and if it change just w8 what it will do with forex market.


But system is very good for me. It's similar to something i was working at, and when i sow it i thought: omg, one year of my work is saved now because of this system.


I'm taking only 1/3 of best looking signals and it works.


My advice: Never trade against higher trand (even bad transation with trend and good S/L can give little profit)
  • #2,027
  • Edited 9:26am Sep 12, 2008 9:06am | Edited 9:26am
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 ?
Sigal si valid but not good one. It is too late. Look for signals where guppy are contracted.
I am using signal trend follower+snapshot. Just to alert me when there is a valid signal but that is all. I do not enter in position because EA says that I should.REad the post 2006 again.
This is not my system!! TheWicker owns this system. Thanks to him we have it.All of EXAMPLES you posted are bad signals to enter. You must learn to be patient. Wait and wait then when good signals occured enter and grab what you can and go out. It is better to enter once in e week or twice and grab 150 pips on best signal then to enter 12 times on doubtful signals and loose 8 times 25 pips. Wait for new trend, move where guppy are contracted and where price was steady for some time. In the direction of trend ALLWAYS. Example: EUR/USD is in bearish trend since 15.07.08. From that date we had 6 or 7 good entries.Average pips per trade about 80-100 pips. Everything else was risky to enter and most of the time bad signals. SO 500-600 pips in one pair per two months is very good score.
Be patient and wait. That is the name of the game.
  • #2,028
  • Sep 12, 2008 9:10am Sep 12, 2008 9:10am
Quoting Willowgal
That is one of the reasons for my previous post - is the slope of the line to be used for entries ?

Thanks
Slope line is indicator that helps you to EXIT not to enter. Dont look at him when you valuate enter signal.
  • #2,029
  • Sep 12, 2008 9:44am Sep 12, 2008 9:44am
Quoting Akhh
I took this signal too. Yesterday USA session was very hard time. There was a lot of good signals to go short on GBP/JPY, CHF/JPY, EUR/JPY, EUR/USD, CAD/JPY.


First signals were very good. Fast profit. But on the evening (Europa time) USA indexes made from -2% to +1% and sytuation has changed.

Maybe transactions should not be make after big move, or maybe we all should look at global sytuation and if it change just w8 what it will do with forex market.


But system is very good for me. It's similar to something i was working at, and when i sow it i thought: omg, one year of my work is saved now because of this system.


I'm taking only 1/3 of best looking signals and it works.


My advice: Never trade against higher trand (even bad transation with trend and good S/L can give little profit)
Good point Akhh. I think that TheWicker said to not trade pairs that are volatily and that has big spread like GBP/JPY.
It is interesitng to note that dollar index rise. Can that be predictable information about the dollar? Where do you see that index? I mean where do you get infiormation about dollar index?
After big move there is allways a resting time for price. Look at what happen after monday. EUR falls almost 350 pips, and on tuesday and wednesday was range movement. Than in afternoon of wednesday drop again 300 pips. Best signal is where are guppy contracted and price was steady for some time. The hardest thing in this system is to watch big move of price and in that move we dont see valid signal. Most of the time because laguerre did not give as chance. Please give me answer about index dollar.
Thanks, have a nice day!
  • #2,030
  • Sep 12, 2008 3:06pm Sep 12, 2008 3:06pm
Quoting pilatus
Slope line is indicator that helps you to EXIT not to enter. Dont look at him when you valuate enter signal.
Thanks for the confirmatiom Pilatus ... that is what I thought based on TheWicker's rules.

May the pips be with you.
  • #2,031
  • Sep 14, 2008 1:12am Sep 14, 2008 1:12am
Quoting pilatus
Good point Akhh. I think that TheWicker said to not trade pairs that are volatily and that has big spread like GBP/JPY.
It is interesitng to note that dollar index rise. Can that be predictable information about the dollar? Where do you see that index? I mean where do you get infiormation about dollar index?
After big move there is allways a resting time for price. Look at what happen after monday. EUR falls almost 350 pips, and on tuesday and wednesday was range movement. Than in afternoon of wednesday drop again 300 pips. Best signal is where are guppy contracted and price was steady for some time. The hardest thing in this system is to watch big move of price and in that move we dont see valid signal. Most of the time because laguerre did not give as chance. Please give me answer about index dollar.
Thanks, have a nice day!
I mean S&P500 and DIJA.
  • #2,032
  • Sep 15, 2008 2:53am Sep 15, 2008 2:53am
so far, so good. Example of a trade I took this london session.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 36 KB
  • #2,033
  • Sep 15, 2008 3:08am Sep 15, 2008 3:08am
Quoting Verto
so far, so good. Example of a trade I took this london session.
Can you tell us please why do you think that this trade you took is good one except that you allready have positive score??
Good trade but I would like to here your opinion and than I will give mine. On that way other traders can give evaluation of our analysis.
Wish you more pips on that trade.
  • #2,034
  • Edited 3:27am Sep 15, 2008 3:11am | Edited 3:27am
Quoting pilatus
Can you tell us please why do you think that this trade you took is good one except that you allready have positive score??
Good trade but I would like to here your opinion and than I will give mine. On that way other traders can give evaluation of our analysis.
Wish you more pips on that trade.
I took both of the signals according to the rules on post one. Red over green rainbow, lag crossing down .75 and trending down, along with macd going into -. The first one wasn't the best signal because it happen before london open. The second one was perfect. As wicker says EU open to US close.

If there is anything else I can do to help then just ask. I'm just following the rules, simple as that.
  • #2,035
  • Edited 5:08am Sep 15, 2008 4:04am | Edited 5:08am
Quoting Verto
I took both of the signals according to the rules on post one. Red over green rainbow, lag crossing down .75 and trending down, along with macd going into -. The first one wasn't the best signal because it happen before london open. The second one was perfect. As wicker says EU open to US close.

If there is anything else I can do to help then just ask. I'm just following the rules, simple as that.
"I took both of the signals according to the rules on post one. Red over green rainbow, lag crossing down .75 and trending down, along with macd going into " let us make some definitions here, and call this VALID SIGNAL. Here is no doubt signal is VALID. But is it good one? Will price go in that direction and why it will go, is something totaly diferent.
My opionion is next:
Rule that support one become resistance and vice versa here plays big role.
Good one is when price bounced from some major support and resistance and than VALID signal occure. Major support and resistance are high and low of previous days. So, in our case price pass support or low of previous day of 11.september. 106.06. Let say this is 106.00. Than bounced from that level 106.00 and that level become resistance now, and THEN VALID signal occured. Valid signal that occured after that scenario has much more potential than signals we have all the time.I Want to say, that signal after that scenario has big potential to become GOOD ONE.
Second thing, price was steady for some time not volatily much. This is second rule when signal is GOOD ONE.
We had this morning few VALID signals but not good one. Look EUR/USD,GBP/USD long.??? This is opposite scenario, where price HIT some major support or resistance level and bounced back and then VALID signal occured. This is kind of signal which I DONT TAKE.
Now, look at my chart where is black line and you will see this major support resistance level which I am talking about.
One thing more, USD/JPY pair like to have support and resistance on levels that ends with .00.
I would really like to here some opinion of my post here. Verto thanks for your answer.
Have a nice day!
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy1.gif Size: 42 KB
  • #2,036
  • Sep 15, 2008 4:30am Sep 15, 2008 4:30am
Quoting pilatus
"I took both of the signals according to the rules on post one. Red over green rainbow, lag crossing down .75 and trending down, along with macd going into " let us make some definitions here, and call this VALID SIGNAL. Here is no doubt signal is VALID. But is it good one? Will price go in that direction and why it will go, is something totaly diferent.
My opionion is next:
Rule that support one become resistance and vice versa here plays big role.
Good one is when price bounced from some major support and resistance and than VALID signal occure. Major support and resistance are high and low of previous days. So, in our case price pass support or low of previous day of 11.september. 106.06. Let say this is 106.00. Than bounced from that level 106.00 and that level become resistance now, and THEN VALID signal occured. Valid signal that occured after that scenario has much more potential than signals we have all the time.I Want to say, that signal after that scenario has big potential to become GOOD ONE.
Second thing, price was steady for some time not volatily much. This is second rule when signal is GOOD ONE.
We had this morning few VALID signals but not good one. Look EUR/USD,GBP/USD long.??? This is opposite scenario, where price HIT some major support or resistance level and bounced back and then VALID signal occured. This is kind of signal which I DONT TAKE.
Now, look at my chart where is black line and you will see this major support resistance level which I am talking about.
One thing more, USD/JPY pair like to have support and resistance on levels that ends with .00.
I would really like to here some opinion of my post here. Vetro thanks for your answer.
Have a nice day!
I think the sign of any good trader is his own opinons, Thanks for sharing your view !
  • #2,037
  • Sep 15, 2008 10:22am Sep 15, 2008 10:22am
Is anyone still trading in the online trading group for Trend Follower?
  • #2,038
  • Sep 15, 2008 5:32pm Sep 15, 2008 5:32pm
Quoting Verto
I think the sign of any good trader is his own opinons, Thanks for sharing your view !
My personal opinion on this trade for what it is worth is that the fact that (as Verto clearly indicated) a solid support level became resistance and that for me is a stronger signal than any lagging indicator level... in fact, I am sure that combining Support and Resistance rules along with TheWicker's method will produce a lot less FALSE signals ?

There won't be that many occuring but I am sure they will virtually all go positive.

I would even suggest that a S/R switchover would be enough to allow us to overrule the red/green GMMA lines part of the method as that invalidates them as a reversal has happened and since the red/green lines lag so much, surely they can be ignored on these occasions - any comments ?

We all have opinions !!

Good luck to all.

Willowgal.
  • #2,039
  • Sep 15, 2008 5:39pm Sep 15, 2008 5:39pm
Quoting navin44
Is anyone still trading in the online trading group for Trend Follower?
I don't think so navin. I asked the guy who set up the Skype group and he said it was shut down.
  • #2,040
  • Edited 5:29am Sep 16, 2008 12:45am | Edited 5:29am
Quoting Willowgal
My personal opinion on this trade for what it is worth is that the fact that (as Verto clearly indicated) a solid support level became resistance and that for me is a stronger signal than any lagging indicator level... in fact, I am sure that combining Support and Resistance rules along with TheWicker's method will produce a lot less FALSE signals ?

There won't be that many occuring but I am sure they will virtually all go positive.

I would even suggest that a S/R switchover would be enough to allow us to overrule the red/green GMMA lines part of the method as that invalidates them as a reversal has happened and since the red/green lines lag so much, surely they can be ignored on these occasions - any comments ?

We all have opinions !!

Good luck to all.

Willowgal.
I agree when you say about S/R switchover. But I dont think that is good to ignore GUPPYs because thay are base of this system. This is than some other system. But than we can add Fib and others thing. And than start another thread......dont think that is good idea. Sorry just my thought.
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