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Need Help!!!!

  • #1
  • First Post: Mar 10, 2007 10:22am Mar 10, 2007 10:22am
Hello people, first of all please excuse my English as it is my second language.I am a newbie and seeking for some help from forex experts in this forum. I need some tips regarding a system I am working on.

At the moment, I only have an entry rule, I don’t know when to exit. For the time being, I use the SHI Channel as my guide.Here are the entry rules;

Setting:


TF 4H
CCI 9
STOCH 10.3.5
SHI Channel
SMA 21


BUY

First, wait for the stoch to go below 30 (oversold),

Then enter when,

  1. STOCH goes above 30
  2. CCI9 is above 0

SELL

First, wait for the stoch to go above 70 (overbought),

Then enter when,

  1. STOCH goes below 70
  2. CCI9 is below 0

First example:

 http://img443.imageshack.us/img443/1...titled1km5.jpg


Second example:


http://img172.imageshack.us/img172/3...titled2em0.jpg

That’s it.It is pretty simple so far. I tried adding MACD and other indicators but I am not an expert so I need some help from you nice people.I need filters to filter whipsaws.

I did a test on this system for the past 2 weeks and the result was encouraging, 300+ pips on the first and another 200+ pips on the second week. 20pips is guaranteed but sometimes SL was hit because I don’t know when to exit. LOL!!Bear in my if you ask me any question I might not be able to answer them. . NEWBIE!!! eheheh

Thanx in advance.

ps- Attached is the template

Attached File(s)
File Type: zip proevo-testing.zip   < 1 KB | 359 downloads
  • #2
  • Edited Mar 11, 2007 4:54am Mar 10, 2007 10:37am | Edited Mar 11, 2007 4:54am
Quoting fayeez
I did a test on this system for the past 2 weeks and the result was encouraging, 300+ pips on the first and another 200+ pips on the second week. 20pips is guaranteed but sometimes SL was hit because I don’t know when to exit. LOL!!Bear in my if you ask me any question I might not be able to answer them. . NEWBIE!!! eheheh

Thanx in advance.

ps- Attached is the template
With the big move that GBP/JPY made during the last 2 weeks I think many systems can make money and so please don't judge the validity of your system because "results was encouraging" during the last 2 exceptional weeks. Just my opinions here.
  • #3
  • Mar 10, 2007 10:54am Mar 10, 2007 10:54am
This is not even a system, it is something I am working on. I attached 2 screenshots .The other one is GBP/USD.I did a test on GBP/USD as far as November last year.I am not promoting so please at least have a look at it first.Thanx
  • #4
  • Mar 10, 2007 7:52pm Mar 10, 2007 7:52pm
Quoting fayeez
This is not even a system, it is something I am working on. I attached 2 screenshots .The other one is GBP/USD.I did a test on GBP/USD as far as November last year.I am not promoting so please at least have a look at it first.Thanx
Actually, you may want to call it a system. This looks like an organized set of ideas and principles intended to create a profiting trading program. It may not be a completed system, but it is a system.

Hopefully it will be a profiting one.

Good luck!
  • #5
  • Mar 16, 2007 2:33pm Mar 16, 2007 2:33pm
Quoting fayeez
Hello people, first of all please excuse my English as it is my second language.I am a newbie and seeking for some help from forex experts in this forum. I need some tips regarding a system I am working on.

At the moment, I only have an entry rule, I don’t know when to exit. For the time being, I use the SHI Channel as my guide.Here are the entry rules;

Setting:


TF 4H
CCI 9
STOCH 10.3.5
SHI Channel
SMA 21


BUY

First, wait for the stoch to go below 30 (oversold),

Then enter when,

  1. STOCH goes above 30
  2. CCI9 is above 0

SELL

First, wait for the stoch to go above 70 (overbought),

Then enter when,

  1. STOCH goes below 70
  2. CCI9 is below 0

First example:

 http://img443.imageshack.us/img443/1...titled1km5.jpg


Second example:


http://img172.imageshack.us/img172/3...titled2em0.jpg

That’s it.It is pretty simple so far. I tried adding MACD and other indicators but I am not an expert so I need some help from you nice people.I need filters to filter whipsaws.

I did a test on this system for the past 2 weeks and the result was encouraging, 300+ pips on the first and another 200+ pips on the second week. 20pips is guaranteed but sometimes SL was hit because I don’t know when to exit. LOL!!Bear in my if you ask me any question I might not be able to answer them. . NEWBIE!!! eheheh

Thanx in advance.

ps- Attached is the template


Hi Bro, how are you???

Sorry my English also not so good.

Okay here is my thought, i write it point by point:

1. Have you tried to used Fibonacci number to take profit??? Together with your file, I added some files for you to try. Please compile the indicator and run the template.

You can apply the exit strategy as follow. First you divide your trading into 4 units:
- You go long/short with 4 unit alive, usually based on your chart, the trade begin when the price are below or on top of 21SMA.
- Book your first unit at the nearest 21 SMA or its shadow (the wave line that look like the wave of 21 SMA)
- Book your second on the next wave
- Here goes the third and 4th.
- However if your stoch/cci crossover again (below/on top of trigger line: 30/70 for stoch and 0 for cci) then you close all your trade OR if your stoch begin to crossover the trigger line you close all your trade

Please do not hesitate to change the risk model for jasmine_4hr_tunnel for GBPJPY its 3 and 4 for GBPUSD its 1 and 2

2. Does the sequence is Stoch first then CCI second??? or vice versa is also doable???

3. What is your setting for applying the stoch and cci. I assume you apply it to Closing price.

How about this bro:

TF 4H
Jasmine_CCI DEFAULT
Jasmine_4H_Tunnel_240_21SMA Risk Model depend on currency cross
EMA 3
1. You go long and short purely based on Jasmine_CCI crossover.
2. You close your trade one by one at the SMA shadow
3. You close your entire trade when Jasmine_CCI crossove AGAIN, and you can start your new trade... OR you close your trade when EMA 3 change slope from negative to positive or positive to negative and confirmed by Jasmine_CCI

terms and condition:
this trading is discretionary due to you'll get whipshaw at cci crossover. to filter this take a look at EMA25 and SMA21 slope compare to the grid.

- Do not trust the crossover when you are in strong up or down trend, my meaning, do not short if you are in up trend, just close your position and wait until the cci crossover signaling you to go long again.
- Do not trust the crossover when the slope of SMA21 is flat compare to the grid

Waiting your reply.... write to the Forum pls...


Thanx
Happy Trading
Andy
Attached Image
Attached File(s)
File Type: mq4 Jasmine_4H_Tunnel_240_21SMA.mq4   5 KB | 365 downloads
File Type: mq4 Jasmine_CCI.mq4   3 KB | 399 downloads
File Type: tpl proevo-testing_andy.tpl   3 KB | 361 downloads
  • #6
  • Mar 17, 2007 3:20am Mar 17, 2007 3:20am
Thank you so much laodeabdul, I will look at it straight away.Thanx again!!

I did a blog/journal regarding this topic.Changed few things here and there, added new indicators etc...

http://proevo-v1.blogspot.com/

Once again, I really appreciate your reply.

I will reply after I read your comments

Cheers...
  • #7
  • Mar 17, 2007 5:03am Mar 17, 2007 5:03am
you have to many tools!!
use a system with only one or two .
chech out TEB Simple System.

If you use two or three time frames in your trading
your trading will go way up!!

really
  • #8
  • Mar 18, 2007 11:33pm Mar 18, 2007 11:33pm
Sorry my English also not so good.

Okay here is my thought, i write it point by point:

1. Have you tried to used Fibonacci number to take profit??? Together with your file, I added some files for you to try. Please compile the indicator and run the template.

I changed a few things,
I changed the 21SMA to 100EMA and 50EMA for S/R
What do you think? Is this a wise move?
You can apply the exit strategy as follow. First you divide your trading into 4 units:
- You go long/short with 4 unit alive, usually based on your chart, the trade begin when the price are below or on top of 21SMA.
- Book your first unit at the nearest 21 SMA or its shadow (the wave line that look like the wave of 21 SMA)
- Book your second on the next wave
- Here goes the third and 4th.
- However if your stoch/cci crossover again (below/on top of trigger line: 30/70 for stoch and 0 for cci) then you close all your trade OR if your stoch begin to crossover the trigger line you close all your trade

Please do not hesitate to change the risk model for jasmine_4hr_tunnel for GBPJPY its 3 and 4 for GBPUSD its 1 and 2

2. Does the sequence is Stoch first then CCI second??? or vice versa is also doable???

You have to wait for STOCH, THEN, CCI for confirmation

3. What is your setting for applying the stoch and cci. I assume you apply it to Closing price.

Yes

How about this bro:

TF 4H
Jasmine_CCI DEFAULT
Jasmine_4H_Tunnel_240_21SMA Risk Model depend on currency cross
EMA 3
1. You go long and short purely based on Jasmine_CCI crossover.
2. You close your trade one by one at the SMA shadow
3. You close your entire trade when Jasmine_CCI crossove AGAIN, and you can start your new trade... OR you close your trade when EMA 3 change slope from negative to positive or positive to negative and confirmed by Jasmine_CCI

I am still looking at it,

terms and condition:
this trading is discretionary due to you'll get whipshaw at cci crossover. to filter this take a look at EMA25 and SMA21 slope compare to the grid.

- Do not trust the crossover when you are in strong up or down trend, my meaning, do not short if you are in up trend, just close your position and wait until the cci crossover signaling you to go long again.
- Do not trust the crossover when the slope of SMA21 is flat compare to the grid
  • #9
  • Mar 19, 2007 12:54am Mar 19, 2007 12:54am
a lot of people like to use fibs and s/r, i think s/r is very important to tell you when not to take a trade, but not always helpful in exiting... as for fibs, its a lot of researching which ones apply to the pair you are trading... an easy way to find tp on 4 hr or daily: when you backtest your system, find the maximum number of pips each winning trade could have gotten you, and average them. factor out unusually high gains, as those are probably news days. for example, say your system generates 6 winning trades in march. your max pips are 75, 125, 150, 75, 400, and 125. factor out the 400, as it is 3 or 4 times higher than the rest. average the other 5, which works out to be 110. so on average you can make 110 p per lot. i like to set my tp at half that and trade 2 lots with a set tp, and a 3rd with a trailing stop or set to break even and let it ride, just in case you get that 400 pip run... Do the same averaging on winning trades to find out where it would have been stopped. say you have your stops at 75 pips, but when you do your averaging, your winning trades would have rarely been stopped below 30 pips. thats 45 pips your losing when you get stopped for no good reason...

Trev
  • #10
  • Mar 19, 2007 3:08am Mar 19, 2007 3:08am
Thanx a million trevwest.. simple advice means a lot to newbies..
  • #11
  • Mar 19, 2007 3:46am Mar 19, 2007 3:46am
you could exit when Stoch gets in extreme, above 80 (in buy situation) or below 20 (in sell situation)

or you could use simple trailing stop

or even combine these two, when stoch gets in extreme set stop loss to break even (that means to your entry price) and then utilise trailing stop

good luck
  • #12
  • Edited 8:57pm Mar 19, 2007 8:44pm | Edited 8:57pm
Thanx Ahil...
  • #13
  • Apr 20, 2007 5:56am Apr 20, 2007 5:56am
Hi fayeez, have you come out with the conclusion? We are eager to hear from you….
  • #14
  • Dec 11, 2016 9:04am Dec 11, 2016 9:04am
exit from trade when market reached support or resistance level.
  • #15
  • Dec 11, 2016 10:57am Dec 11, 2016 10:57am
Quoting fayeez
Hello people, first of all please excuse my English as it is my second language.I am a newbie and seeking for some help from forex experts in this forum. I need some tips regarding a system I am working on. At the moment, I only have an entry rule, I dont know when to exit. For the time being, I use the SHI Channel as my guide.Here are the entry rules; Setting: TF 4H CCI 9 STOCH 10.3.5 SHI Channel SMA 21 BUY First, wait for the stoch to go below 30 (oversold), Then enter when, STOCH goes above 30 CCI9 is above 0SELL First, wait for the stoch to...

If, "20pips is guaranteed" you should split your lot size to 3 and enter 3 positions targeting different amount of pips without worrying where to exit. Better search and find an edge and not an exit. This is how you should be trading > open three positions splitting your lot size (if for one position you would risk 0.10 then you should open 3 positions with 0.03) this way your stop loss money will be the same. After a move of 20 pips take profit one position and move the other two on break-even (to zero). If you are using 20 stop loss this is 60 pips altogether for 3 positions and you should let the other two positions run to cover the damage, if you hit stop loss 2 of the three times example: your loss is 120 pips your three runs should be more pips to have a winning edge.
Looking for profitable short term trades ...|
  • #16
  • Last Post: Dec 11, 2016 12:42pm Dec 11, 2016 12:42pm
you can add RSI for more confirmation
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