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Supernova GBP/JPY Mini Trend Catcher

  • #6,321
  • Jan 12, 2009 9:23pm Jan 12, 2009 9:23pm
Hello All,
I've tried several combinations of the EA on the shorter timeframes but have not found anything that I believe is consistent. That doesn't mean there's not a solution. Maybe with your input on the results you are getting manually Jeremy, we can tune the EA to perform. I agree with Gnat regarding the 100 take profit. Not sure that's doable with a 5 minute EA.

I've had the best results with the 4 hour TF. Although, I've seen cases where I thought the EA should have taken a trade and did not and it missed a nice run. I'd be happy to upload my set file if you'd like to test for yourself.

Whatever happened to the test results from our Supernova test group? Our programmer was keeping track of various settings and recording the results. It would be interesting to know which EA settings worked the best.

I'm still testing on the 4hr. Supernova works great when the market is trending. I'm testing another EA that works great in a ranging market and I'm considering combining the two on seperate charts. Supernova to get the trends and the other EA to get the ranges.

Love to perfect this.
  • #6,322
  • Jan 12, 2009 11:14pm Jan 12, 2009 11:14pm
Hi Newera,

I'd be thankful if you can send me the set file for 4hr chart. Does it apply for all currency pairs?

With regards to your message below, i understand that previously supernova ea did not work on lower time frame, however have anyone try to test it based on my settings, i.e. only trade from 7.30 to 11.30 UK time with fix TP of 100 pips and 45 trailing stop perhaps use 70-100pips SL and will reverse when all indicators are in agreement also will closed all position at 11.30 UK time no matter what? Perhaps the problem previously was the EA running for 24/5? Am i assuming this right? Sorry i did not read all of the thread as they are too many.

Based on my 3 years experience trading forex, all pairs move the most from the start of london open, i believe its best to run supernova on 5min chart during this time only.

I am looking forward to the set file to be sent, thanks Newera.

Cheers...

Quoting newera
Hello All,
I've tried several combinations of the EA on the shorter timeframes but have not found anything that I believe is consistent....
  • #6,323
  • Jan 13, 2009 1:06am Jan 13, 2009 1:06am
Hi Jeremy,

There are variables for start time and stop time, however i don't know what timezone it is calculating but it could be tested of course. As DLL import is allowed it could be your own PC time.

There are variables to get confirmation of another timeframe on exit (under comment3 and 7).

In case you or others don't know: the settings file can be viewed and printed as it is a textfile.
I have loaded it in Excel so I can hide the settings I don't use and focus on the changes I want to investigate.

It would be nice if one of the 'oldies' could explain all the settings in a document on the first page.

fixer
  • #6,324
  • Jan 13, 2009 5:26am Jan 13, 2009 5:26am
this europe morning too many losses, 1 full stoploss, no home run.

I changed the settings for tomorrow:

back to (my favorite) 15',
entry and exit on QQE/DMI/MOM
(entry all confirming, exit only 1 necessary to stop the trade)
stop 50, profit 75, trail 45
hope to have time tomorrow

only concern: settings too tight for the yuppie, too loose for cable

fixer
  • #6,325
  • Jan 13, 2009 12:43pm Jan 13, 2009 12:43pm
hi, I got the EA to work. Thank you. It seems to me that the 4hour is the better way to go for this EA as oppossed to the five minutes. If that is the case I was wondering if the same settings you recommended would apply?
  • #6,326
  • Jan 13, 2009 1:16pm Jan 13, 2009 1:16pm
Hi Mac,

"hi, I got the EA to work. Thank you. It seems to me that the 4hour is the better way to go for this EA as oppossed to the five minutes. If that is the case I was wondering if the same settings you recommended would apply? "

In my experience the answer depends on 2 factors:

- the session: London is slightly in favor of the €, USA of the $ (except of course on heavy trending days)
the 4 hour problems with auto SN could be due do this phenomenon

- the volatility of the pairs: 1.5y ago average volatilty in eur/usd was 70p/day in august 2008 170p/day

the best results (manually) with SN in the London hours and short time frame could be due to these factors: one market open, on average 2 periods with a directional swing.

And 5' or 4h: if your profit is consistent the number of pips is less important than money management

just my two cents....

fixer
  • #6,327
  • Jan 13, 2009 3:25pm Jan 13, 2009 3:25pm
I use 1 set file for all pairs. Currently trading the following on a 4 hour chart:
Aud/Usd, Chf/Jpy, Eur/Jpy, Eur/Usd, Gbp/Jpy, Gbp/Usd, Nzd,Jpy, UsdChf, Usd/Jpy. Attached is my set file. It has a txt extension. You can change to .set and import into MT4 preset folder.

I have a doc that is cut and paste of the versions of the Supernova EA and Ricks notes on each release and what was included. Let me see if I can find that and post for those newer followers.



Quoting jeremiahkn
Hi Newera,

I'd be thankful if you can send me the set file for 4hr chart. Does it apply for all currency pairs?

With regards to your message below, i understand that previously supernova ea did not work on lower time frame, however have anyone try to test it based on my settings, i.e. only trade from 7.30 to 11.30 UK time with fix TP of 100 pips and 45 trailing stop perhaps use 70-100pips SL and will reverse when all indicators are in agreement also will closed all position at 11.30 UK time no matter what? Perhaps the problem previously was...
Attached File(s)
File Type: txt h4_qqesf5dar3.5_dmi_200sl_psarts_allowreentry_samebarreverse.txt   3 KB | 472 downloads
  • #6,328
  • Jan 14, 2009 2:05am Jan 14, 2009 2:05am
Yeah i made some losses too yesterday on all pairs, however it is just part of the game isn't it, there's no perfect system out there after all. I made similar losses as well last November on one trading day, but i kept going and end up profiting up to now. Today should be a good trading day i hope.

Quoting ffixer
this europe morning too many losses, 1 full stoploss, no home run.

I changed the settings for tomorrow:

back to (my favorite) 15',
entry and exit on QQE/DMI/MOM
(entry all confirming, exit only 1 necessary to stop the trade)
stop 50, profit 75, trail 45
hope to have time tomorrow

only concern: settings too tight for the yuppie, too loose for cable

fixer
  • #6,329
  • Jan 14, 2009 2:35am Jan 14, 2009 2:35am
Just wanted to point out to another important indicator for your trading success: Ring Finger Digit Ratio

Have a nice day and lots of pips to you all!
  • #6,330
  • Jan 14, 2009 11:54am Jan 14, 2009 11:54am
Hi,

I've been using the tc-multi-indy by trendchaser with great results on the 1 hour chart. It seems perfect for an ea. Is there one? Or could someone help with that? Thanks!
  • #6,331
  • Jan 15, 2009 12:23am Jan 15, 2009 12:23am
hi everyone,

I believe that some of u are also having similar problems that I am having these days...
My problem is when I practice supernova method when I am not using real money or using the old data, I tend to make profits. However, whenever I use my real account with it, there it goes.....big loss.

Maybe I need to become more patient and wait for all the indicators to line up. But I feel that when all indicators line up, I am too late for the entry....
So I just enter when QQE, DMI, and mom are in my favor.
And many times, my trades end up hitting my SL.

And another problem is even when my entry was good or perfect, I suddenly become risk averse and move my SL to positive territory even though my profit at that moment is not greater than 10pips. so I end up making 1pip....

well I better find a way to get over these problems..

Oh... yeah I have a question for you guys.

When you say no shadow on bars or heiken ashi, what does that actually mean?
Are shadows those sharp peaks that stand out from price bars body?
It will be great to know;;

Thanks!
  • #6,332
  • Jan 15, 2009 1:04am Jan 15, 2009 1:04am
I read the first 40 pages of this thread (my forum settings show 40 replies per page) and then I jumped to the last page!

What an interesting thread!
  • #6,333
  • Jan 15, 2009 1:37am Jan 15, 2009 1:37am
i do have a simple idea, that could increase your chances

only trade at the begginning of a session, and just get 1 good trade


i believe ny is the best after much study, atleast recently

on the chart below, i drew a box around the hr before session open
after the session opens, see which way it breaks
then trade supernova in that direction only

not all days are pretty like the example
what i think will mostly determine your succsess is the rr

you cannot be taking 10-20 pips with a 20 pip sl

you must atleast target 2x your sl or more

you know, if you target a 4-1 or 5-1 ratio, you only need to winn about 30%
of your trades

atleast target 1-1, then youl need about a 60% or so hit rate

the rr is more important than the system

you could scalp it, work your ass off all week, then lose it all in 1 session, atleast thats what happens to me

im now studying more about the rr than the hit rate
Attached Image (click to enlarge)
Click to Enlarge Name: noww.gif Size: 13 KB
  • #6,334
  • Jan 15, 2009 1:45am Jan 15, 2009 1:45am
heres the indy, you can study data to see the best times to trade
Attached File(s)
File Type: mq4 times.mq4   5 KB | 792 downloads
  • #6,335
  • Jan 15, 2009 2:29am Jan 15, 2009 2:29am
Trendchaser, you once again made my day. Your posts and indicators are just great and a big help for beginners like me. I learned a lot from you. Thanks for that!

Your posted strategy is exactly what I did the last few days: Only one trade at session's beginning (Europe) and that's it. And seems to work out pretty good. As far as I figured out, the big movements start with a delay of often about 30 minutes (sometimes more, sometimes less). At least that was the case in the last few days with EURJPY, GBPUSD and GBPJPY.

I find it useful to trade this strategy with a real mini account as long as there are to many unknown factors and my knowledge of the market is so humble. The risky trades I still take with my demo account. So I can do both: (Hopefully) earn some pocket money and learn by trial and error.
  • #6,336
  • Jan 15, 2009 2:43am Jan 15, 2009 2:43am
Well actually I had a "big" loss this morning while trading this strategy on GBPJPY after london's open (at about 8.00am GMT). After the price snuck a peek over the daily pivot line I took the trade only to find out, that it immediatly turned and took long run down again.

Though japan's economy seems unstable these days, the yen is still strong and the pivot line acted as resistance. I should have waited for more confirmation, I guess. Now the price keeps on ranging.
Furthermore I had 4 charts open for GBPJPY: 1. The manual Supernova setup as recommended by Gnat, 2. Cryten's Anaconda, 3. Cryten's barenaked Supernova and 4. Cryten's UT-Fast setup (pretty redundant, isn't it?). This obviously was too much for me to handle: I did not wait for complete confirmation of the trade by the original supernova setup. I was overwhelmed by information.
Third indicator for a bad trade was my gut feeling. I did not feel secure when taking his trade.

Have I missed some more data on the technical/fundamental side regarding GBPJPY this european morning?
  • #6,337
  • Jan 15, 2009 2:49am Jan 15, 2009 2:49am
i could leave you to fend for your self, but i cant help but share lol

i just put together a ea
iv been optimising, the breakout of 13 gmt seems the most consistant

im testing eur-usd
from what i see, if you trade the breakout of the 13 hr candle, put sl on opposite side, set tp to 4x bigger than sl

never touch it, let it run its course

iv only tested the previouse 5 months, with ibfx data
im not going to import and test on alpari, because its crap

heres what i have so far
change the file extension to htm to view the report

youl notice i only have a 30% winn rate

i lost 70% of my trades
the 4-1 ratio still made it profitable

on gj, 14 was the best trading hr, i think




Quoting puduman
Trendchaser, you once again made my day. Your posts and indicators are just great and a big help for beginners like me. I learned a lot from you. Thanks for that!

Your posted strategy is exactly what I did the last few days: Only one trade at session's beginning (Europe) and that's it. And seems to work out pretty good. As far as I figured out, the big movements start with a delay of often about 30 minutes (sometimes more, sometimes less). At least that was the case in the last few days with EURJPY, GBPUSD and GBPJPY.

I find it useful to trade...
Attached Image (click to enlarge)
Click to Enlarge Name: 1_hr_breakout.gif Size: 6 KB
Attached File(s)
File Type: txt 1_hr_breakout.txt   77 KB | 815 downloads
File Type: mq4 1-hr-break2.mq4   3 KB | 929 downloads
  • #6,338
  • Jan 15, 2009 3:05am Jan 15, 2009 3:05am
i guess throughout the economy changing, maybe at some point london open was better, or will be better again, but in my test, the ny london overlap are superior

atleast recently

i remember the market use to realy pick up at 1-2 am eastern time, it just doesnt anymore, maybe at 3-4 am now, but its usually a choppy mess, or a strong trend

the market is changing
i guess its just a mix lol
  • #6,339
  • Jan 15, 2009 3:28am Jan 15, 2009 3:28am
Quoting trendchaser
i guess throughout the economy changing, maybe at some point london open was better, or will be better again, but in my test, the ny london overlap are superior

atleast recently

i remember the market use to realy pick up at 1-2 am eastern time, it just doesnt anymore, maybe at 3-4 am now, but its usually a choppy mess, or a strong trend

the market is changing
i guess its just a mix lol
Good to know. I'll look into that from now on.

Thanks for your recent EA and your data. A nice proof for what you said about RR.
  • #6,340
  • Jan 15, 2009 3:51am Jan 15, 2009 3:51am
Man, I've been beating my head against the wall on this exact thing. For months I've been watching the results of the 1300 GMT action, and trying to get SN 1.7 to catch it. This is usually when I'm sleeping. I can't wait to give this a try. thanks bro....


Quoting trendchaser
i guess throughout the economy changing, maybe at some point london open was better, or will be better again, but in my test, the ny london overlap are superior

atleast recently

i remember the market use to realy pick up at 1-2 am eastern time, it just doesnt anymore, maybe at 3-4 am now, but its usually a choppy mess, or a strong trend

the market is changing
i guess its just a mix lol
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