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Slingshot 30M & 1H - The 2nd Coming......

  • #21
  • Jan 16, 2009 12:55pm Jan 16, 2009 12:55pm
Quoting AZ-Heat
Hi damonl,
Could you post a couple screen shots from this weeks trades so that I fully understand your system?

Thanks,

AZ
I will do what I can for you.
"Keep your eyes on the helpers" - Mr. Rogers
  • #22
  • Jan 16, 2009 1:02pm Jan 16, 2009 1:02pm
Here were the rest of the trades for today. I will total them below.

EurUsd 2 for 2 +29, +13

GbpUsd 1 for 3 -45, +13, -45

UsdJpy 2 for 4 +11,+7,-25, -25

Giving us a total for the day of 13 for 17 with a pip count of +49 pips.....

We took a few losses today, but they were after 17:00 GMT when we lost 140 pips on Friday...I will give you my evaluation in another post.
"Keep your eyes on the helpers" - Mr. Rogers
  • #23
  • Jan 16, 2009 1:03pm Jan 16, 2009 1:03pm
Here is our weeks totals.....

We were 76 of 87 for a 87% win ratio with a total pip count of 913 pips. Avery respectable week in my estimation.
"Keep your eyes on the helpers" - Mr. Rogers
  • #24
  • Edited 1:25pm Jan 16, 2009 1:08pm | Edited 1:25pm
Hi Damonl

Great little tweak using the macd.
Just a quick query regarding how you could use it...If I'm not mistaken I see you use the segments created from the histogram. Would you conside the actual macd itself also and how about divergene/convergence of the macd and the shadow against the price. i.e. in an uptrend even if the current segment goes higher than the previous tone but the price doesn't...would you consider looking for a short signal?

I hope this makes sense.

I also use support and resistence lines in the form of pivots on my harts to help me.

Again thanks for your work with this.
  • #25
  • Jan 16, 2009 1:12pm Jan 16, 2009 1:12pm
I believe that we have a very respectable week of trading. I would like to give my evaluations and observations in hopes that they will help make this a better system.

 

  1. I have two proposed possible rules in the 1st post that I would like to keep in eye on. had the rules been applied we would have not lost 2 trades for -90 pips this week. Unfortunately I am not sure how many winning trades these rules would have kept us out of, and will pay more attention to that this week.
  2. On Friday starting with 17:00 GMT we lost 4 trades costing us 140 pips in profit and ruined our otherwise perfect day of trading. I will go and propose another rule on post #1 for ending our trading time at 17:00 GMT on Fridays. This way we can watch this and see if it would be beneficia.

I hope you all had a nice week trading......see ya'll again soon.

"Keep your eyes on the helpers" - Mr. Rogers
  • #26
  • Jan 16, 2009 1:17pm Jan 16, 2009 1:17pm
Quoting bobbybrown
Hi Damonl

Great little tweak using the macd.
Just a quick query regarding how you could use it...If I'm not mistaken I see you use the segments created from the histogram. Would you conside the actualy macd itself also and how about divergene/convergence of the macd and the shadow against the price. i.e. in an uptrend even if the current segment goes higher than the previous tone but the price doesn't...would you consider looking for a short signal?

I hope this makes sense.

I also use support and resistence lines in the form of pivots on my...
All these are good suggestion, and if you were to be wanting to trade tis live, then I would suggest that you do this. To be hosnest with you, my purpose here is to create an EA with this system and some of your suggestions are hard to implement on an EA, and primarily I have become an end of day trader only. But yes.....your points are very valid.

As for using the MACD smoothing lines, it is possible and I will have to take a look at that...thanks for your suggestions....
"Keep your eyes on the helpers" - Mr. Rogers
  • #27
  • Jan 16, 2009 1:24pm Jan 16, 2009 1:24pm
Quoting damonl

  1. If we are looking for a short trade and price breaks below the low of the previous bar, trading is off for that bar, and vice versa for a long trade. This keeps us out of highly whipsawed markets and doji bar scenarios.

No problem Damonl.

I've got another query re. rule number 1 at the end of your 1st post

Does this mean if we are looking for a short entry, if the price breaks the previous bars low BEFORE it breaks the high (ie then goes and retraces to above the previous high) we ignore it if even if it does com back down to the close of the previous bar

Thanks
  • #28
  • Jan 16, 2009 1:37pm Jan 16, 2009 1:37pm
Quoting bobbybrown
No problem Damonl.

I've got another query re. rule number 1 at the end of your 1st post

Does this mean if we are looking for a short entry, if the price breaks the previous bars low BEFORE it breaks the high (ie then goes and retraces to above the previous high) we ignore it if even if it does com back down to the close of the previous bar

Thanks
yes....that is what I mean...thanks and I will fix that in post #1
"Keep your eyes on the helpers" - Mr. Rogers
  • #29
  • Jan 16, 2009 2:13pm Jan 16, 2009 2:13pm
nice system- i traded 3 trades today for 25 pips in an hour. i like the macd filter- i had settings wrong but it still worked. im thinking that the filter rules might be hard for a robot to follow though- this would be one beast of an EA though if it could do it.

thanks for the info - i will be doing this more next week.
  • #30
  • Jan 16, 2009 4:06pm Jan 16, 2009 4:06pm
Quoting richie456
nice system- i traded 3 trades today for 25 pips in an hour. i like the macd filter- i had settings wrong but it still worked. im thinking that the filter rules might be hard for a robot to follow though- this would be one beast of an EA though if it could do it.

thanks for the info - i will be doing this more next week.
yeah...I know nothing about programming. I thought it would be as easy as comparing values, but that is not my forte'.

What about to keep it simple it was programmed to have a true false setting "look for long trades only" and look for short trades only". This way it is not fully automated, but it would mean that we would only need to look at charts every 30M to 1H.

Though this would not help me out as I work during the day time and am asleep during London.

Is it the indicator that makes it hard to code?
"Keep your eyes on the helpers" - Mr. Rogers
  • #31
  • Jan 16, 2009 4:59pm Jan 16, 2009 4:59pm
It's not the indicator, it's the way the indicator is applied.

To an EA, it needs to figure out the following:

 

  1. Sets
  2. Long/Short Sets
  3. Sets which change trend direction (Change from short to long and vice versa)
  4. Finding highest value in a set.

I am testing 2 potential solutions right now. Letting the test run through the weekend (slow computer + lotsa data = long backtest) I'll also be largely unavailable over the weekend as I'm moving back into my dorm. (Packing computers, monitors, hardware, clothes, sheets, towels, etc)

  • #32
  • Jan 16, 2009 7:04pm Jan 16, 2009 7:04pm
damonl -
I'm working on an indicator for the macd filter - an idea on how it might work came to me on a beach walk during a break this afternoon. I'll see what I can come up with over the weekend. If I can get it to work I think RR can incorporate it into his ea for with the option of using it or not (i.e., a boolean parameter).
Had to drop the word "beach" in there, you live in Wisconsin I think - something about snowmobiles in an exchange with Bobcat2. I'm not a snow/cold kinda guy so I picked Florida to retire to along with a few million of my closest friends. Not sure this is far enough south at times - I actually had to put on a sweater this morning!

Gary
  • #33
  • Jan 16, 2009 8:57pm Jan 16, 2009 8:57pm
Quoting damonl
What about to keep it simple it was programmed to have a true false setting "look for long trades only" and look for short trades only". This way it is not fully automated, but it would mean that we would only need to look at charts every 30M to 1H.
damonl,

Any EA can be set to trade either Long-only or Short-only with the drop-down box on the first tab of the EA properties. It wouldn't have to be coded. But, as you say, that would take away most of the reason for having an EA.


knickalls
  • #34
  • Jan 17, 2009 6:36am Jan 17, 2009 6:36am
Quoting Ronald Raygun
It's not the indicator, it's the way the indicator is applied.

To an EA, it needs to figure out the following:

  1. Sets
  2. Long/Short Sets
  3. Sets which change trend direction (Change from short to long and vice versa)
  4. Finding highest value in a set.

I am testing 2 potential solutions right now. Letting the test run through the weekend (slow computer + lotsa data = long backtest) I'll also be largely unavailable over the weekend as I'm moving back into my dorm. (Packing computers, monitors, hardware, clothes, sheets, towels, etc)...

Thanks RR...have a great weekend? BTW...I got your PM. Thanks for that. I have not had a chance to even go there but I will make it. have abusy weekend ahead of me as well. Thanks again.
"Keep your eyes on the helpers" - Mr. Rogers
  • #35
  • Jan 17, 2009 6:37am Jan 17, 2009 6:37am
Quoting Pavatar
damonl -
I'm working on an indicator for the macd filter - an idea on how it might work came to me on a beach walk during a break this afternoon. I'll see what I can come up with over the weekend. If I can get it to work I think RR can incorporate it into his ea for with the option of using it or not (i.e., a boolean parameter).
Had to drop the word "beach" in there, you live in Wisconsin I think - something about snowmobiles in an exchange with Bobcat2. I'm not a snow/cold kinda guy so I picked Florida to retire to along with a few million of...
hahahahahhaha...I hope you stayed warm....I wouldn't want you to freeze on the beaches of Florida. We are having a heat wave today. It is suppose to get all the way up to 16. Thanks for your help and nice to meet you.
"Keep your eyes on the helpers" - Mr. Rogers
  • #36
  • Jan 17, 2009 6:38am Jan 17, 2009 6:38am
Quoting knickalls
damonl,

Any EA can be set to trade either Long-only or Short-only with the drop-down box on the first tab of the EA properties. It wouldn't have to be coded. But, as you say, that would take away most of the reason for having an EA.


knickalls
Oh yeah, forgot about that. Yes, an EA would be best, but at least even this way it would eliminate have to sit an dwatch moving charts all day. Which is still a better situation.
"Keep your eyes on the helpers" - Mr. Rogers
  • #37
  • Jan 17, 2009 9:14am Jan 17, 2009 9:14am
never mind...don't like it as much.....better to try to get it the way we have it now
"Keep your eyes on the helpers" - Mr. Rogers
  • #38
  • Jan 17, 2009 12:05pm Jan 17, 2009 12:05pm
Greetings Damonl. I've read through your post a couple of times now and am still fuzzy on the details. Would you mind posting a couple of charts? Thanks a lot.
  • #39
  • Jan 18, 2009 3:25am Jan 18, 2009 3:25am
Hello,

I have just made a very simple image host just for posting forex charts and diagrams .No account creation, no ads, just a simple poster.

You can try how user friendly it is at :

http://forexrainbow.com/

I really would like to see some screen shots with the macd use.

Thank you

B

p.s.If you have a comment about the image hoster I will gladly hear it.
Learn something difficult and earn real money for ever, a lot.
  • #40
  • Jan 18, 2009 9:27am Jan 18, 2009 9:27am
Quoting Blazer
Hello,

I have just made a very simple image host just for posting forex charts and diagrams .No account creation, no ads, just a simple poster.

You can try how user friendly it is at :

http://forexrainbow.com/

I really would like to see some screen shots with the macd use.

Thank you

B

p.s.If you have a comment about the image hoster I will gladly hear it.
Hey Blazer... Whatsup man!

Thanks a bunch for posting the image hoster. I was just thinking about how I was going to show this guy I know a screenshot of a chart. I didn't want to find an old thread to post it on 'cause that didn't seem too cool.

Now the problem is solved. A quick easy way to throw a link out for someone to take a peek at chart or something.

Now... let's see some views of how this crazy system works. I'm ready to start puttin' some cash in my account in '09

How 'bout you?
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