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The simple stupid system

  • #701
  • Sep 11, 2008 10:19am Sep 11, 2008 10:19am
Bradev, all on 15M TF.

Looking back at my log, EJ has been the dominant, although I've taken USD/CAD a few times. e.g. UCAD 21:15 GMT last night I thought it was a good signal seeing as it would test resitance 25 pips away - and it did.

Just took cable short at 14:00 GMT, and unfortunately the SL just got nudged. Looking at it now, my SL needed to be 26 as the short is now falling bigtime.

One thing of note - EUR's been heading south this week, so maybe taking shorts on a QQE cross has been a sure thing. 3 losers now out of 15 trades over 4 days is pretty good going - but will the system hold up long term in all market conditions? I don't know. I hope so.

cheers, PQ
  • #702
  • Sep 11, 2008 1:52pm Sep 11, 2008 1:52pm
I have had some success using this system on a 15 minute chart with the major pairs by using some other indicators mentioned here and possibly in other forums. These are the ToR 1.20, and Trend Friend. When the higher time frames agree, the trade is usually a good one. I have traded against them, and the trade is usally NOT good when I do. Also, the trading is usually bad after about 10:00 AM Pacific Standard Time, as was pointed out in the first post. The basic indicators Mom, CCI8 and 5,3,3 stoch along with the QQE with alert are great alerts, and with the addition to my chart of the above mentioned indicators for confirmation of trend, this is a very good, and still very simple system. No matter what, I always set a 30 PIP stop loss. I willonly set a 30 PIP take profit if I'm not here. When I'm able towatch the charts, I won't exit until the moving average crosses and/or the Mom goes above or below zero. This way, you get to ride some very good trends.
  • #703
  • Sep 11, 2008 2:38pm Sep 11, 2008 2:38pm
Paradoxical, I agree with what you're saying. My usual scalping techniques I referred to earlier on a 5M are with 15M confirmation and when combined with a QQE and CCI, I have good success.

Switching to longer trades, and trailing stops is difficult for me. Nothing to do with this or any other system, just my mindset and my problem! As a scalper, if I'm 25 pips up, Im already too excited and looking to bank them, not move the SL to BE.

With the EUR on a pretty even downtrend all week, taking shorts given the right signals has been a shoe-in IMO. Don't know how I'd cope under different market conditions - even the OP said he's getting 60%, and 60% success to me is touch and go given my personality.

cheers,
PQ
  • #704
  • Edited 4:23pm Sep 12, 2008 3:54pm | Edited 4:23pm
[quote=Wahnone;2203125]Hello guys. I came across this Synergy trading method by Dean Malone and that's why I have become a bit quiet on posting in this thread. I saw the traders dynamic index indicator (TDI), it is really a good and a all in one indicator that shows most market conditions.

It's a real loser! Way too many false breakout's of the channel. I forward tested it for almost three months with various pairs on different time frames because it looked so promising. This is Dean Malone's 'BASIC STRATEGY' To go to his advanced seminar and learn how to do it right will cost you $1000 if I remember correctly.

The TDI is a 'fairly good' indicator, but it doesn't give you any more reliable information than the FX Sniper Ergodic Trigger. Just more unnessary lines which only follow price action.

Plus somone 'discovered' the Synergy System a couple of months back and started posting it in the FF. The thread quickly died, and for good reason.
  • #705
  • Sep 13, 2008 3:06am Sep 13, 2008 3:06am
Hi Wahnone,
Thanks for sharing your system.
Would you please advice your latest setup for the system?
Also how can you confirm your trades on multi time frame? (Do you really do it?)
What currency pair normally you use?
Thanks
  • #706
  • Sep 13, 2008 3:20am Sep 13, 2008 3:20am
Hi,
Would anybody (Specially Wahnone) advice how can I filter the specified false signal from the picture?
Thanks
Attached Image (click to enlarge)
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  • #707
  • Sep 13, 2008 8:29am Sep 13, 2008 8:29am
Quoting Keivan
Hi,
Would anybody (Specially Wahnone) advice how can I filter the specified false signal from the picture?
Thanks
As some people have mentioned earlier, you can confirm with a higher timeframe.

If you look at my chart... you notice I don't have all your signals (for some reason), and you also notice the trend from a higher timeframe so you don't trade against the trend.

But you can't predict everything, you will loose trades. There are these days with high volatility.

Also.. there were a "Monetary Policy Meeting Minutes" in Australia the 19th that probably didn't help.
Attached Image (click to enlarge)
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"White collar crime deserves a blue collar beating!" - 8fingers
  • #708
  • Sep 14, 2008 9:17am Sep 14, 2008 9:17am
I notice that you only have the Mom indicator. I use the CCI 8 and Stoch 5,3,3. I also have added two other indicators called Tor 1.20 and Trend friend 1.01. Attached is a screen shot. If the 15 minute signal agrees with the one hour and four hour, it is usually a good trade. These two indicators help keep you out of those ranging markets, too, because the ToR 1.20 also shows either "ranging" or "weaker". I don't make a trade when it says that. You will get fewer trades, and probably get in a little later, but most trades will be better ones using these indicators in addition to the others, and I think this still keeps the system "simple" even though there's more indicators. Last week I made something like 400 pips on my live account. They won't all be like that, but my trading has improved 100% using this system along with the added indicators.
Quoting Keivan
Hi,
Would anybody (Specially Wahnone) advice how can I filter the specified false signal from the picture?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad9208.gif Size: 35 KB
  • #709
  • Sep 14, 2008 2:37pm Sep 14, 2008 2:37pm
Quoting paradoxical
I notice that you only have the Mom indicator. I use the CCI 8 and Stoch 5,3,3. I also have added two other indicators called Tor 1.20 and Trend friend 1.01. Attached is a screen shot. If the 15 minute signal agrees with the one hour and four hour, it is usually a good trade. These two indicators help keep you out of those ranging markets, too, because the ToR 1.20 also shows either "ranging" or "weaker". I don't make a trade when it says that. You will get fewer trades, and probably get in a little later, but most trades will be better ones using these indicators in addition to the others, and I think this still keeps the system "simple" even though there's more indicators. Last week I made something like 400 pips on my live account. They won't all be like that, but my trading has improved 100% using this system along with the added indicators.
can you advice more about your indicators?
  • #710
  • Sep 14, 2008 7:12pm Sep 14, 2008 7:12pm
Here is the ToR 1.20. You'll need to watch it awhile to get a feel for it. The time frames are from 1 minute to 4 hours, and, depending on the strength of the pair in those time frames, you'll get a reading of weaker, ranging or stronger with arrows pointing up, down, or at a 45 degree angle. I use the 15 minute charts. If the other indicators line up, I look at Tor 1.20 to see what it says about the strength of the pair. Unless it has at least strong readings for the hour time frame, I will not take a position. I definitely won't take it if it says "ranging". This has saved me getting into a lot of trades that go the other way within 10-30 minutes after I enter. If you get strong readings on the 4 hour also, it's usually a good trade, as it means that pair has been going that way for awhile. will post the Trend Friend in next post.
Quoting Keivan
can you advice more about your indicators?
Attached File(s)
File Type: ex4 ToR_1.20.ex4   27 KB | 494 downloads
File Type: mq4 ToR_1.20.mq4   33 KB | 582 downloads
  • #711
  • Sep 14, 2008 7:17pm Sep 14, 2008 7:17pm
Kevian,

Here's the Trend Friend. Not much to explain. Generally, I don't take a trade unless at least the one hour reading agrees with the 15 minute.
Quoting Keivan
can you advice more about your indicators?
Attached File(s)
File Type: ex4 TF_1.01.ex4   16 KB | 518 downloads
File Type: mq4 TF_1.01.mq4   11 KB | 573 downloads
  • #712
  • Edited 4:44am Sep 16, 2008 4:24am | Edited 4:44am
Quoting paradoxical
Kevian,

Here's the Trend Friend. Not much to explain. Generally, I don't take a trade unless at least the one hour reading agrees with the 15 minute.
hi paradoxical,

Could you please explain more about trend friend because there are macd,ema set1 & ema set2. from 1min to 4hrs TF.
you mean all of macd,ema 1 & ema 2 in 15 mins reading agree with 1 hr. what's about 30mins & 4 hrs?

I saw yellow line in your chart. What's it?
Oh one more question which pairs are you trading?. I'm trying to stick to one pair as some people said. Just like today E/U is ranging so no trade for me.What is your opinion

I like your strategy it's simple and I beleive it's effective.

Hope to hear from soon Thank you Paradoxical

Pete.
  • #713
  • Sep 17, 2008 1:02pm Sep 17, 2008 1:02pm
Hi! I am following this topic since july. I was inspired to open a demo account and to see if I can trade Forex. Apparently I can. Using this system I have got very good results on demo accounts. Today I entered live. The first trade made on the system: EUR/USD 63pips. Thank you Wahnone!

I had no courage to let the EA since I could see a tendency to enter a bit late in the trade. So I have the signal but trade manually.

I still have a question. My chart does not show any signal on the Elliott wave oscilator though I downloaded the indicators posted by affandiz in post 701. Is it normal? Thank you.
If you're not part of the solution then you're part of the problem.
  • #714
  • Sep 17, 2008 1:47pm Sep 17, 2008 1:47pm
Hello majorusa

U can try both of this indicator.

Cheers

~Profi~
Attached File(s)
File Type: mq4 Elliott Wave Oscillator.mq4   2 KB | 392 downloads
File Type: mq4 Elliott Wave Oscillator(2).mq4   3 KB | 402 downloads
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #715
  • Sep 17, 2008 3:22pm Sep 17, 2008 3:22pm
Thanks profi. The second one give signals.
If you're not part of the solution then you're part of the problem.
  • #716
  • Sep 17, 2008 5:48pm Sep 17, 2008 5:48pm
They are various moving averages. Forget the yellow line. Doesn't mean anything. If you see a pair ranging in more than a few time frames, I would pass on it. I use this in a 15 minute time frame, and I like to see the hour and 4 hour time frames all green if I'm going long, or allred, if I'm going short. Those won't light up unless the pair has been trending in that direction for at least that period of time. That means the pair is trending in that direction. As far as the 5 minute and one minute time frames, that just means the pair has been moving that way for one minute or 5 minutes. That's why those will change more rapidly because it's a quicker time frame.
Quoting pete.alfa
hi paradoxical,

Could you please explain more about trend friend because there are macd,ema set1 & ema set2. from 1min to 4hrs TF.
you mean all of macd,ema 1 & ema 2 in 15 mins reading agree with 1 hr. what's about 30mins & 4 hrs?

I saw yellow line in your chart. What's it?
Oh one more question which pairs are you trading?. I'm trying to stick to one pair as some people said. Just like today E/U is ranging so no trade for me.What is your opinion

I like your strategy it's simple and I beleive it's effective.

Hope to hear from soon Thank you Paradoxical

Pete.
  • #717
  • Sep 17, 2008 8:07pm Sep 17, 2008 8:07pm
Quoting paradoxical
They are various moving averages. Forget the yellow line. Doesn't mean anything. If you see a pair ranging in more than a few time frames, I would pass on it. I use this in a 15 minute time frame, and I like to see the hour and 4 hour time frames all green if I'm going long, or allred, if I'm going short. Those won't light up unless the pair has been trending in that direction for at least that period of time. That means the pair is trending in that direction. As far as the 5 minute and one minute time frames, that just means the pair has been moving that way for one minute or 5 minutes. That's why those will change more rapidly because it's a quicker time frame.
Thanks Paradoxical

Pete
  • #718
  • Sep 17, 2008 8:12pm Sep 17, 2008 8:12pm
Quoting majorusa
Hi! I am following this topic since july. I was inspired to open a demo account and to see if I can trade Forex. Apparently I can. Using this system I have got very good results on demo accounts. Today I entered live. The first trade made on the system: EUR/USD 63pips. Thank you Wahnone!

I had no courage to let the EA since I could see a tendency to enter a bit late in the trade. So I have the signal but trade manually.

I still have a question. My chart does not show any signal on the Elliott wave oscilator though I downloaded the indicators posted by affandiz in post 701. Is it normal? Thank you.
Hi Majorusa,

Congratulation I'm still doing on demo. I hope I can trade live soon

Pete
  • #719
  • Sep 17, 2008 8:21pm Sep 17, 2008 8:21pm
You should demo this until you are CONSISTENTLY profitable. That may take some time. You should play with stop losses and take profits. It's nice to have those big runs, but those don't happen all the time, EVEN when everything reads GO when you enter. If indicators were a sure thing, it's a sure thing they wouldn't work anymore, because the brokers wouldn't stand for losing. They are a guide only. A compass. A guage. Some people say indicators are worth NOTHING! I'm not in that camp. But, just pointing out that there are some that make very reasoned arguments that indicators are worthless. You need to see for yourself. Do tests. SSee what happens when you do X, and when you do Y. Then, see if it's consistent. If it works, then try it live with small money. But, keep in mind, in forex, things change. What works this month or year, may not work in the future.
Quoting pete.alfa
Hi Majorusa,

Congratulation I'm still doing on demo. I hope I can trade live soon

Pete
  • #720
  • Edited 1:37am Sep 18, 2008 1:31am | Edited 1:37am
Quoting paradoxical
You should demo this until you are CONSISTENTLY profitable. That may take some time. You should play with stop losses and take profits. It's nice to have those big runs, but those don't happen all the time, EVEN when everything reads GO when you enter. If indicators were a sure thing, it's a sure thing they wouldn't work anymore, because the brokers wouldn't stand for losing. They are a guide only. A compass. A guage. Some people say indicators are worth NOTHING! I'm not in that camp. But, just pointing out that there are some that make very reasoned arguments that indicators are worthless. You need to see for yourself. Do tests. SSee what happens when you do X, and when you do Y. Then, see if it's consistent. If it works, then try it live with small money. But, keep in mind, in forex, things change. What works this month or year, may not work in the future.
I totally agree. And the market can humble you in a split second. It happened to me. After that 63 pips, three wrong enters and result is a net -78 pips. Then I took a break. I still have a position open on the usd/jpy with the trend against me but on the longer times charts the trend is right. Will see...

And another thing. I trade with money that I can afford to lose. I do not want to lose them but I can afford it. DO NOT TRADE ON CREDIT!
If you're not part of the solution then you're part of the problem.
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