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The simple stupid system

  • #721
  • Sep 18, 2008 10:43am Sep 18, 2008 10:43am
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.
Hello, can you please tell your settings for the EA if you have time someday.
  • #722
  • Sep 20, 2008 2:25am Sep 20, 2008 2:25am
Sorry but it took me some time to find my settings. I am using the standard settings with two twists: the SL is at 30 and the smooth factor of QQE is at 5. I am not using the EA to trade. I did and the results were negative. I trade manualy. I also have the Bollinger bands on the chart. In addition I am using chartist to identify the formations in which the trend is moving. I can post here the yesterday results on demo. I stoped for the time being live untill I tweak some more the system. I also did another mistake on live. Did not apply money management correctly. Now I tweaked one money management system and the result is below.

I traded in lots of 0.1 of the mini lots. Here are the results:
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If you're not part of the solution then you're part of the problem.
  • #723
  • Sep 21, 2008 3:37am Sep 21, 2008 3:37am
[quote=majorusa;2231668]In addition I am using chartist to identify the formations in which the trend is moving.

Hi majjorusa
can you post here your indicator Chartist
thanks
ashi
  • #724
  • Sep 21, 2008 12:44pm Sep 21, 2008 12:44pm
It is not an indicator. It is a software to identify the trend formations simultaneously on a lot of pairs. You have here a screen capture. Want to know more: www.autochartist.com. My broker provides this tool for free.
Attached Image (click to enlarge)
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If you're not part of the solution then you're part of the problem.
  • #725
  • Edited 10:46am Sep 22, 2008 3:23am | Edited 10:46am
Wahnone develloped a good system. But, as I was testing, does not work by itself. I am posting you the results from this morning.

The two negative trades were a mistake. I entered without watching the 1 min chart and without respecting the signal. The 13 USD trade was opened automatically by the EA. I forgot to close it. And it was a 1 lot. The rest were o.1 of mini lot.

The rest are textbook. So, it is working but not on automatic pilot. Money management is essential too.

I also put the chart showing the trend breakout. These were the last two trades. Enjoy.

Update: i took another two trades, both succesfull but closed by the trailing stop at 4 and 5 pips. Total result for the day 107 pips. 11 trades, 9 won, 2 loss.
Attached Image (click to enlarge)
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Attached Image
If you're not part of the solution then you're part of the problem.
  • #726
  • Sep 22, 2008 3:28am Sep 22, 2008 3:28am
Quoting majorusa
It is not an indicator. It is a software to identify the trend formations simultaneously on a lot of pairs. You have here a screen capture. Want to know more: www.autochartist.com. My broker provides this tool for free.
thanks majorusa
  • #727
  • Sep 22, 2008 9:53am Sep 22, 2008 9:53am
I've been trading very successfully and think this is one of the better systems around. I use it mosly on 30 minute charts.

I trade manually and keep my stops at 20 and shoot for anything from 10 to 20 for profit.
Please keep up the good work and I will let you know how I do on my Demo.

cwave
  • #728
  • Sep 24, 2008 8:28am Sep 24, 2008 8:28am
I restarted to trade on live with mixed results: 7 wins, 5 loses, 59% success ratio for a net of 24 pips. I am using micro lots with strong money management.

I also increased the SL to 100 pips since I discovered that S/L of 30 pips does not do any good on the 15 minutes chart. last night by example a sharp decline in price trigerred the S/L, dropped below the line 3 pips then reboundedin a +10-15 pips above the buy price. So I missed the whole move.
If you're not part of the solution then you're part of the problem.
  • #729
  • Sep 26, 2008 5:07am Sep 26, 2008 5:07am
Quoting majorusa
I restarted to trade on live with mixed results: 7 wins, 5 loses, 59% success ratio for a net of 24 pips. I am using micro lots with strong money management.

I also increased the SL to 100 pips since I discovered that S/L of 30 pips does not do any good on the 15 minutes chart. last night by example a sharp decline in price trigerred the S/L, dropped below the line 3 pips then reboundedin a +10-15 pips above the buy price. So I missed the whole move.
Majorusa,

Try the 30 minute chart. All I do is wait for my arrow and alert and I open a trade immediately. I set my profit at 10 pips. Almost everytime I hit my 10 pips. Sometimes sooner and sometimes it takes hours. But it's very accurate. Always stay away when the news hits.

cwave
  • #730
  • Sep 26, 2008 10:28am Sep 26, 2008 10:28am
Cwave,

I'm still following this and think it's one of the best manual systems around. I have been successful in trading it (when time permits).

Are you using the QQE and trading in that direction once you get a MA cross?

Your strategy of using M30 may suit me better too, as the crosses are less frequent and less whipsaw I think.

Please keep us posted as to your results.

Thanks,

^ Optimist ^
  • #731
  • Sep 26, 2008 11:14am Sep 26, 2008 11:14am
For people interested live results from this week. All are traded manually on the Wahnone system on the 15 min chart with confirmation on the 1 min, 5 min and 1H charts. The amounts are in USD.

P.S. Where is Wahnone?
Attached Image (click to enlarge)
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If you're not part of the solution then you're part of the problem.
  • #732
  • Sep 26, 2008 12:00pm Sep 26, 2008 12:00pm
I am around sometimes on the forum but I am currently working on my 4hr system and that is why I have not had time for this thread. I will soon cobtinue to post my trades daily again. For now, i am still perfecting my 4hr system as I find the 4hr less stressfull, while you can also make what you make on lower timeframes on it(4hr) by trading multiple pairs. See you then.
  • #733
  • Sep 26, 2008 12:49pm Sep 26, 2008 12:49pm
Quoting Wahnone
I am around sometimes on the forum but I am currently working on my 4hr system and that is why I have not had time for this thread. I will soon cobtinue to post my trades daily again. For now, i am still perfecting my 4hr system as I find the 4hr less stressfull, while you can also make what you make on lower timeframes on it(4hr) by trading multiple pairs. See you then.
You guys still using the Rules on post #1?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #734
  • Sep 26, 2008 2:43pm Sep 26, 2008 2:43pm
I stumble upon your thread today, I have set up the template charts etc. I have been trading forex for awhile now. Your system ROCKS Simple and effective. Thank you for sharing and helping other traders.
Trading is Methodical - Markets are Emotional
  • #735
  • Sep 26, 2008 7:46pm Sep 26, 2008 7:46pm
Quoting Forex Optimi
Cwave,

I'm still following this and think it's one of the best manual systems around. I have been successful in trading it (when time permits).

Are you using the QQE and trading in that direction once you get a MA cross?

Your strategy of using M30 may suit me better too, as the crosses are less frequent and less whipsaw I think.

Please keep us posted as to your results.

Thanks,

^ Optimist ^
Understand this was done with a demo and these are results for the past two days.

This may sound weird but the last EUR/GBP trade lost for about 200.00 but I wanted to hit sleep and got out for a loss. It should count as a win because it proceeded to my TP.

I just wait for that 30 minute alert and check to make sure my indicators lined up.

I shoot for 10 pips and get out or sometimes look for my support or resistance areas to ride them for more profit.

I'm still practicing and I never set a stop loss because I watch the trade through. If I have to step away for extened periods I will set a stop loss.

I find the QQE to be one of the better indicators around.

I stay away whenever the news breaks.

Look at your thirty minute charts and you'll see the arrows from the alerts and it almost always hits the 10 pip mark.

I DO NOT display good money management with the account as you can see. But my idea is to test.

I think there are people with better skills who could really do a lot better and would love other people to run this test along with me.

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  • #736
  • Sep 29, 2008 1:29pm Sep 29, 2008 1:29pm
Let me show you a live trade on the 1M chart EURUSD. I traded the spike on price action, up, down and again down.
Attached Image(s) (click to enlarge)
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If you're not part of the solution then you're part of the problem.
  • #737
  • Sep 29, 2008 1:56pm Sep 29, 2008 1:56pm
Quoting cwave
Understand this was done with a demo and these are results for the past two days.

This may sound weird but the last EUR/GBP trade lost for about 200.00 but I wanted to hit sleep and got out for a loss. It should count as a win because it proceeded to my TP.

I just wait for that 30 minute alert and check to make sure my indicators lined up.

I shoot for 10 pips and get out or sometimes look for my support or resistance areas to ride them for more profit.

I'm still practicing and I never set a stop loss because I watch the trade through. If I have to step away for extened periods I will set a stop loss.

I find the QQE to be one of the better indicators around.

I stay away whenever the news breaks.

Look at your thirty minute charts and you'll see the arrows from the alerts and it almost always hits the 10 pip mark.

I DO NOT display good money management with the account as you can see. But my idea is to test.

I think there are people with better skills who could really do a lot better and would love other people to run this test along with me.

Attachment
you can do, a summary of your system in M30, types indicators that you use, type QQE. Thank you
  • #738
  • Sep 29, 2008 9:16pm Sep 29, 2008 9:16pm
Quoting Smknyc
Can you please tell me where to get the Trend Friend Indicator?
Here you go. Pretty good one too. Good luck trading.

cwave
Attached File(s)
File Type: ex4 forexchaser.ex4   3 KB | 741 downloads
  • #739
  • Sep 29, 2008 11:41pm Sep 29, 2008 11:41pm
Quoting Smknyc
I was looking for Trend Friend Indicator it shown in the chart above.
you may find it in the post 712 in this thread.
If you're not part of the solution then you're part of the problem.
  • #740
  • Sep 30, 2008 4:44am Sep 30, 2008 4:44am
Quoting majorusa
you may find it in the post 712 in this thread.

Happy trading,

cwave
Attached File(s)
File Type: mq4 TF_1.01.mq4   11 KB | 641 downloads
File Type: ex4 TF_1.01.ex4   16 KB | 506 downloads
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