Paulus - Traffic lights

Man, this is great system, I made 25 pips tonight (LIVE). But this is just a start

Its very important to follow trend at the 15 min chart and follow the rules.

Tnx for sharing sys

This is my workspace right now as you can see the 5 min has been giving blue up bars on the HA ..but if you look at the 15 min although its got 13mins left to end the bar its giving me blue on the CCI8 which means I cannot take shorts on the 5min EVEN if I get a red HA on my 5min soon unless the 15min is at 0.00 or below

If you then look at my 30min you will see its red..this could be a pull back on the 15min hence its gone blue but the larger trend is down ie the 30min..

as always im guided in direction by the 15min and entry by the 5min..the 30 min just helps me create a picture in my mind what is happening..

In this case a sharp rise in price over 5mins has caused the new 15min bar to go blue but the 30min is still trending down..unless the rally is strong we could push down again soon.

I never really do market appreciation as I think it clouds the entry and is often wrong lols..I prefer to look at a mech approach to trend and direction...just my thoughts

paulus

messy start back to zero

Thanks Paulus


I've been folowing your system the last week and I like the simplicity very much,

Did you trade in a exactly a period of the day , because I think we will avoide false signal.
This morning we got A short situation but the price is ranging and giving to many wrong signal.

I'm trying to attach the chart but isn't working. The perioid is this morning between 7 and 10 GWT

Have a look please.

Thanks
[

Hi

I do 7.30am to around miday uk time if I get my 20 pips I stop..I then do 2.30pm to around 5pm

yes see the tough bottom but took the short..I dont look at levels I cant get a mechanical rule for it

cheers

Paulus

Had some loses playing this system. But that's normal in this market i guess. Have a nice weekend all!

yes you will have losses but ANY system has losses and I defy any one to show me a system that doesn't.With correct money managment the losses wont hurt your account.

Take a look at any professional traders or city traders sharps ratio you will see nasty dips ...thats their losses

To be quite honest if I was trading allot bigger I would cut my daily target to 10pips its all about exposure in the market the less your exposed the less risk you have.

Ive looked at lot of systems on this board and one thing they all have in common people show allot of interest initially then they take some losses and the thread dies ..this proves to me with doubt that people are on the eternal hunt for the holy grail perhaps its human nature I don't know all I do know is, all you can do in this business is try to stack the odds in your favour you need an edge..I beleive this gives you that edge we define a trend and we enter on a pull back what happens 1 second we are filled and in the market is out of our control if we go short and the market goes up 30 pips in the next 2 sec its not the system fault it cannot see into the future at what is about to happen..its the traders responsibility to control his/her losses with good money management so they can jump in the water tomorrow and swim with the sharks.

Paulus

if you look at the chart the 1st signal was taken when the 5min bar completed but the 15min was still forming and the CCI8 was moving from red through 0.00 to blue this is a normal signal

If you look at the 2nd signal when the 5min bar completed the CCI8 had been red for some time hence its safe or perhaps I should say safer !

Once we have 1 formed bar on the 15 min we are in a safe period.

Hope that helps

Paulus

Excuse my ignorance, but how do I know if I have tick data or not? Will this work with a normal demo account?

Go into the history center, and check your data. If the increments are only in minutes and not seconds, and sometimes miliseconds, then you have minute data, not tick data.

Thanks, looks like all of mine are minute data. Is that based on the broker? If so is there any that you know of that has the tick data?

So far not a winning trade, switched it of after 8 losing trades.
Will test again when this market returns to a more normal one, LOL.

Paulus and group:
This method is working for me, even in this choppy market. I find that keeping an eye on the 5M and 15M stochs really help your judgement in which trades to go into following this method. Sure, I've lost some trades, but the 10:20 SL:TP really makes a huge difference.
Hows is everyone else doing?

doing well here few scary moments but thats trading getting my 20 every day which for me is the most important thing.

The other important aspect is money management its this that will keep you alive when we get a losing run and that will happen with ANY system

Onwards and upwards

Paulus

How do you use stoch exactly?

Hi Paulus,have you news filter for your Traffic Lights ?

Hi,

maybe you should stop after your third loss and stay on the sideline making papertrades. If your performance is getting better again its time to resume. That would be a typical anti-martingale strat.

I would prefer to display this set up like in the attached picture but unfortunately i don't know how.

http://codebase.mql4.com/c/codebase/...ibsmoothed.gif

I realy don't know how reliable this system is. I like it and it's looking quite good but: I think it can be rather good programmed and executed automatically. There are some posts in this thread which attest bad backtesting results for this system. Especially the good results in september are a strong hint. So i would deal it with great care.

Don't get me wrong but i think the main reason why accounts often are blown is that systems doesn't get tested enough. I think its difficult to trust a system that wasn't tested for at least 300 or better much more trades. Maybe you can dispel my concerns.

Sorry for my mediocre english.

I've been trying to trade a couple of hours before the US session opens, but it's not optimal for this system. I end up jumping on signals that have no follow through. Everyone's jockeying for position before the usual 8:30am news release, then again for the sometimes 10am news release.

So I'm going to start trading after the news settles, which is after 10 most days. That way I won't be wasting time and I'll avoid trading my usual monkey business methods. Today there was a good signal at 10:35 am.

And I've got to crack the whip and trade at 2:30 am like Paulus does. That first 2 hour window regularly has good opportunities.

Hi Paulus,

The system looks very good, thanks. I'm not so good with Money Management Systems, can you please explain the system you use.

Yellow

I have been using this on demo for about a month with good results. I have also increased the RR from a 10SL 10TP to a 10SL 15 or 20 TP depending on the 4 hr trend. If I'm going with that trend then I will open the TP to 20 or so If I am against the 4hr trend I will run it a bit tighter 15 or maybe 10. I seem to get the best results with this system from about 12pm Pacific time to about 5PM. I'm trying out later at night now. Yesterday I had 2 trades 1 loser 10 pips one winner 14 pips.
Thanks Paulus for sharing this with us & to the ones srtuggling, I would say just make sure you are following the rules of the system & maybe just go with a 4hr or 1hr trend till you get the hang of it. This seems to me to be a really good short term system and one I am soon going to add to my live trading.