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The System II (Yes with irony)

  • #581
  • Edited 2:23pm Nov 9, 2008 2:01pm | Edited 2:23pm
Dear Traders

I have the pleasure of knowing feb's personally. I spoke with him this past Friday on the phone, his health has improved considerably, but still delicate.I have to say, he's my mentor. A kind individual who has been in this business for many years.

He told me about coming back to the forum once he could be on a better shape.

cheers.
  • #582
  • Nov 9, 2008 2:14pm Nov 9, 2008 2:14pm
Thanks for the update, that is great news.
  • #583
  • Nov 9, 2008 5:48pm Nov 9, 2008 5:48pm
I second that - great news - hope that he returns soon. Thanks Nomo.
  • #584
  • Nov 9, 2008 8:37pm Nov 9, 2008 8:37pm
Quoting panos69
Hi.
Feb had serious health problems and i havent heard of him a long time now.
He also hasnt answered the PM i sent him.
Lets all hope he is allright
His systems are all a trader needs to know in my humble opinion...
Real diamonds in the forum.
i still trade the 5min breakout in conjuction with pivot points especially when the longer time frames are in consolidation
Hi Panos,

I am terribly sorry to hear about his health. no wonder the pm i sent was not replied. anyway, glad to hear some of you guys still pipping around .

regards.
I am bored..
  • #585
  • Nov 9, 2008 8:41pm Nov 9, 2008 8:41pm
Quoting nomoretoxic
Dear Traders

I have the pleasure of knowing feb's personally. I spoke with him this past Friday on the phone, his health has improved considerably, but still delicate.I have to say, he's my mentor. A kind individual who has been in this business for many years.

He told me about coming back to the forum once he could be on a better shape.

cheers.
nomoretoxic,

i have great respect to this old man. wish him speedy recovery for me if you happen to talk to him. hope he will be around soon. nice knowing that Feb's apprentice is around.

regards.
I am bored..
  • #586
  • Nov 9, 2008 9:30pm Nov 9, 2008 9:30pm
I will keep you guys posted. I am also waiting on his recovery. I assure you, there's plenty of people praying and hoping for the best.

cheers.
  • #587
  • Nov 10, 2008 4:51am Nov 10, 2008 4:51am
Quoting nomoretoxic
I will keep you guys posted. I am also waiting on his recovery. I assure you, there's plenty of people praying and hoping for the best.

cheers.
Thank you nomoretoxic, I hope for the best, health is no doubt the most important thing to watch and wish for the best.
My best wishes to Feb
  • #588
  • Nov 10, 2008 11:02am Nov 10, 2008 11:02am
Quoting nomoretoxic
Dear Traders

I have the pleasure of knowing feb's personally. I spoke with him this past Friday on the phone, his health has improved considerably, but still delicate.I have to say, he's my mentor. A kind individual who has been in this business for many years.

He told me about coming back to the forum once he could be on a better shape.

cheers.
That's a great news Nomoretoxic , hope everything is fine with Feb , will wait his post again here
  • #589
  • Nov 10, 2008 8:20pm Nov 10, 2008 8:20pm
Quoting skyline
That's a great news Nomoretoxic , hope everything is fine with Feb , will wait his post again here
skyline, still use the Feb's helper ea you coded? got new version?
I am bored..
  • #590
  • Nov 11, 2008 2:40am Nov 11, 2008 2:40am
Quoting G33maroon
skyline, still use the Feb's helper ea you coded? got new version?
To say all the truth I didn't traded this method so much during past months (my fault) due to other projects where I was involved.
Btw last version is Feb Helper EA v3 that you can find in this thread, did you used it ?

Cheers,
Skyline
  • #591
  • Nov 11, 2008 3:06am Nov 11, 2008 3:06am
Quoting skyline
To say all the truth I didn't traded this method so much during past months (my fault) due to other projects where I was involved.
Btw last version is Feb Helper EA v3 that you can find in this thread, did you used it ?

Cheers,
Skyline
yes, got the v3. thanks . been using it from time to time when i feel to get 20-30 pips. but somehow, few days ago,it just stop following the market movement and stucked.
I am bored..
  • #592
  • Nov 11, 2008 3:12am Nov 11, 2008 3:12am
Quoting G33maroon
yes, got the v3. thanks . been using it from time to time when i feel to get 20-30 pips. but somehow, few days ago,it just stop following the market movement and stucked.
Yes I guess what you experienced is due to this abnormal volatility in the market during these past weeks but I'm sure in the long run this method is profitable.
Now I'm in this trade on EURUSD that just break on the upside at 1.2766, I'm in with 20 pips stoploss and 20 pips trailingstop to trail pip by pip, let's see how it will develop
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 147 KB
  • #593
  • Nov 11, 2008 3:31am Nov 11, 2008 3:31am
Quoting skyline
Yes I guess what you experienced is due to this abnormal volatility in the market during these past weeks but I'm sure in the long run this method is profitable.
Now I'm in this trade on EURUSD that just break on the upside at 1.2766, I'm in with 20 pips stoploss and 20 pips trailingstop to trail pip by pip, let's see how it will develop
currently i am not using it (i mean the ea). i do it manually. i have serious spread widening issue. anyway, good luck to you .
I am bored..
  • #594
  • Nov 11, 2008 3:36am Nov 11, 2008 3:36am
Quoting G33maroon
currently i am not using it (i mean the ea). i do it manually. i have serious spread widening issue. anyway, good luck to you .
Trailing routine already locked +12 pips
it's strange which broker are you using with so high spread issue ? I'm using now IBFX and there's no problem so far (EURUSD is 2 pips spread now).
  • #595
  • Nov 11, 2008 5:00am Nov 11, 2008 5:00am
Quoting skyline
Trailing routine already locked +12 pips
it's strange which broker are you using with so high spread issue ? I'm using now IBFX and there's no problem so far (EURUSD is 2 pips spread now).
by now you should have earned your 20 pips .

today's volatility is okay i think . its not a problem, since manually trail it using recent peak or low and sometimes put another extra 10-15 pips stops. anyway, i am only asking for 20 to 30 pips.
I am bored..
  • #596
  • Nov 11, 2008 5:04am Nov 11, 2008 5:04am
Quoting G33maroon
by now you should have earned your 20 pips .

today's volatility is okay i think . its not a problem, since manually trail it using recent peak or low and sometimes put another extra 10-15 pips stops. anyway, i am only asking for 20 to 30 pips.
No I didn't use a fixed 20 pips tp , I let the trail manage my trade until it's stopped out, at the end it was closed with +13 pips profit not so much but it's still positive pips
  • #597
  • Nov 11, 2008 9:56pm Nov 11, 2008 9:56pm
Great thread Feb, thanks for sharing your knowledge

One of my short term trading styles is quite similar to yours.

I use higher highs/lower lows to determine the trading direction on the timeframe I'm trading. When the price has its first swing high/low, I look to get in on the 50-61 fib retracement with stops above/below the previous high/low. Great thing is that you can use this method on monthly down to tick charts.

Like you've pointed out, this can cause a lot of moves to be missed, waiting for a 50-61 fib level to be hit. Looking back on some of my trades, The System II with irony would have saved me a few losses too

It's similar to james16, in the way you look for the A+++ set-ups.

I have adjusted my method to suit yours and sure I miss a few pips by not getting in after the pullback, but it saves me from the chop monster or a complete reversal. Took 3 trades this morning, long geppy for +100 pips, short EU for +20 pips and long EU for +20 pips.

I have put together an indi for metatrader that draws the market open times (Syd, Tokyo, London, NY) for the current day - I have not implemented this to go back in time - it only draws lines for the current day.

My broker time is GMT +2 (FxPro), so the settings are defaulted to this timezone.

Here is what the settings do:

The open times are relative to your broker timezone (i.e. Sydney open is midnight for me on GMT +2hrs). Times must be in 24hr format.

Sydney_Open = Sydney open time (00:00 default)
Tokyo_Open = Tokyo open time (02:00 default)
London_Open = London open time (10:00 default)
NY_Open = New York open time (15:00 default)

LineColor = the color of the open lines/labels
LabelPipOffset = The label offset (in pips) from the highest price in your window - depending on what the price is doing, you may need to adjust this so the labels are visible.
LabelFontSize = the font size for the labels

The indicator will not draw lines on chart times over 1 hr - can be easily changed though, just remove or comment out the line

Inserted Code
if (Period() > PERIOD_H1) return(0);
Feel free to make any changes to the indi, just don't close source it and claim it as yer own
Attached Image (click to enlarge)
Click to Enlarge Name: feb.png Size: 5 KB
Attached File(s)
File Type: mq4 Market_Open_Lines.mq4   3 KB | 1,058 downloads
  • #598
  • Nov 11, 2008 10:06pm Nov 11, 2008 10:06pm
Nice NF, very kind of you to share.
  • #599
  • Nov 11, 2008 10:14pm Nov 11, 2008 10:14pm
Quoting Rialto
Nice NF, very kind of you to share.
No problems Rialto

Hope she's of good use!

The three trades I took this morning were an hour after Aussie open (EU short) and just after Tokyo open for the geppy and EU longs (will post my charts soon)

I'll be back for London and NY open for another round
  • #600
  • Edited Nov 12, 2008 12:33am Nov 11, 2008 11:20pm | Edited Nov 12, 2008 12:33am
Here are my charts from this morning.

I did forget that I was already long on the geppy using my own system and added to it when Feb's break up occurred. I was already 50 pips up and gained another 50 from Feb's irony

I don't like to trade the Aussie/Asian session so I generally set a hard take profit of 20 pips on the EU (could have let it run this time though!).

Geppy I'll usually use price action to exit.

Any trades I take in the London/US sessions I let run their course with a trailing stop or scale out (1/2 off the table at 1:1 and trail the stop).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: feb_eu.png Size: 5 KB
Click to Enlarge Name: feb_geppy.png Size: 5 KB
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