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

  • #41
  • Jan 18, 2009 9:48am Jan 18, 2009 9:48am
Thank you,

The system looks real good. And the filter will help.

Healthy and profitable 2009.

Cheers

B
Learn something difficult and earn real money for ever, a lot.
  • #42
  • Jan 18, 2009 4:17pm Jan 18, 2009 4:17pm
domanl and RR -
I've finished my first version of a trend indicator using the max macd as discussed in the first post of this thread. I'm testing it now that the market has reopened - so far so good. If it continues to perform as expected tonight, I'll clean up the code and post it tomorrow so we can all give it a good work out. Once we test, modify and make sure the indi works, we'll have an indi that can be used by those who like to trade manually. I'm hoping RR can take the indi and incorporate it into his ea assuming the indi tests out well. RR - you may have already solved this little coding mystery as addressed in your earlier post - hope your move back into the dorm went well. Damonl - to my absolute shock, we had FROST on parts of our roofs for a good half hour this morning = time to move further south!

Hope everyone had a great weekend - Gary
  • #43
  • Edited 7:44pm Jan 18, 2009 7:28pm | Edited 7:44pm
im looking forward to seeing this ea with the macd indicator verification. thanks RR and pavatar.

damonl i had a question on how you came up with the macd settings you are using. what made you decide to use the numbers you listed instead of default? thanks.
  • #44
  • Jan 18, 2009 7:49pm Jan 18, 2009 7:49pm
Quoting richie456
im looking forward to seeing this ea with the macd indicator verification. thanks RR and pavatar.

damonl i had a question on how you came up with the macd settings you are using. what made you decide to use the numbers you listed instead of default? thanks.
Actually, the numbers that I am using are usually default for MACD out of the box. The numbers in the indicator on this thread were for some other systme I don't remember.

However, i am sure the if we are able to get an EA for this system, those numbers can be property values and then we will be able to optimaize to find what mill work best, as they may acutally be different for each pair.
"Keep your eyes on the helpers" - Mr. Rogers
  • #45
  • Jan 18, 2009 7:50pm Jan 18, 2009 7:50pm
Quoting Pavatar
domanl and RR -
I've finished my first version of a trend indicator using the max macd as discussed in the first post of this thread. I'm testing it now that the market has reopened - so far so good. If it continues to perform as expected tonight, I'll clean up the code and post it tomorrow so we can all give it a good work out. Once we test, modify and make sure the indi works, we'll have an indi that can be used by those who like to trade manually. I'm hoping RR can take the indi and incorporate it into his ea assuming the indi tests out well....
Awesome Bro....I can't wait to see what we come up with and see how this system handles the long term
"Keep your eyes on the helpers" - Mr. Rogers
  • #46
  • Jan 19, 2009 1:26am Jan 19, 2009 1:26am
Hi D

Quick question.

On exit are you including the close of the bar you entered on in your in profit or BE calculation or does it start at the close of the bar AFTER the bar you entered on?

Thanks

Lux
MT4 EA, Indicator and Alert Coder Since 2006
  • #47
  • Jan 19, 2009 3:47am Jan 19, 2009 3:47am
Quoting luxinterior
Hi D

Quick question.

On exit are you including the close of the bar you entered on in your in profit or BE calculation or does it start at the close of the bar AFTER the bar you entered on?

Thanks

Lux
Including your entry bar if you are in profit.....Eventually I would like to find an alternative exit that would keep us in longer, but that may or may not be more profitable....

Close the trade on the 1st bar that closes at B/E or in profit....
"Keep your eyes on the helpers" - Mr. Rogers
  • #48
  • Jan 19, 2009 3:50am Jan 19, 2009 3:50am
I am added another possible exit rule to the 1st thread. Once again, this is just something that I propse that we look at to see if it is actually better.
"Keep your eyes on the helpers" - Mr. Rogers
  • #49
  • Jan 19, 2009 4:06am Jan 19, 2009 4:06am
Here is the 1st trade update for today...

EurUsd 2 for 2 = +36, +35 pips

GbpUsd 1 for 2 = +23,-45 pips: Currently there is one short trade open that is not looking good

UsdJpy 2 for 2 = +7, +2 pips

5 for 5 so far for 58 pips.

Using our 4th alternative rule, we would have only lost 40 pips in stead of 45 on GbpUsd. Using our 2nd alternative rule we would not have earned 23 pips on our GbpUsd trade.

I will update you on the rest of the trades this evening as I will be out all day...

Have a great day trading...
"Keep your eyes on the helpers" - Mr. Rogers
  • #50
  • Edited 7:31am Jan 19, 2009 7:01am | Edited 7:31am
If I am reading the MACD trend indicator correctly (14:50GMT 1/19/09) , we are currently trending LONG on GPBUSD on the 30M chart from 00:00 (1/19) because we broke the high of the previous blue set.

However, we are currently SHORT on the GBPUSD on th 1HR chart from 16:00 GMT (1/16) because we broke the low of the previous red set.

What are your thoughts on the conflicting trend signals? GBP has dropped nearly 450 pips as of this post but yet our 30 min trend indicator still signals LONG.

If we would have followed the SHORT signals on the 1hr chart, we would have made a nice profit today?

Just some thoughts....1) US Bank Holday 2) Divergence on the 30M chart 3) ????

I am not intending to add complications....we need to get the system up and running before we start to tweak it.....just some thoughts for the back burner. It is more important to develop a robust system to work over time than to fit it to one day's trading results!!!!!

Thanks Damonl & RR for the hard work!!!!!!
  • #51
  • Jan 19, 2009 7:48am Jan 19, 2009 7:48am
im pretty sure from the charts he is trading m30. but i wonder if for the robot it might not be better in the 1 hr- with stop loss at candle bottom- that will have to be tested and im more then happy to help with that.

thanks for answering my question damonl - good trading today.

RR- im doing your coin toss theory- curiousity has gotten the better of me. lol

my first trade- long on euro.... sigh lol
  • #52
  • Jan 19, 2009 8:39am Jan 19, 2009 8:39am
Quoting richie456
im pretty sure from the charts he is trading m30. but i wonder if for the robot it might not be better in the 1 hr- with stop loss at candle bottom- that will have to be tested and im more then happy to help with that.

thanks for answering my question damonl - good trading today.

RR- im doing your coin toss theory- curiousity has gotten the better of me. lol

my first trade- long on euro.... sigh lol
The coin toss is meant to make you ignore your entry. What matters is how you exit a trade =D You saw that EU was going down, so what do you do? Get out and flip until you get a short.
  • #53
  • Jan 19, 2009 8:47am Jan 19, 2009 8:47am
im in trade still- ill ride it out and see where it retraces too-- go from there. i didnt know you could keep flipping... i thought you had to play the cards you were dealt. that makes a big difference.
  • #54
  • Jan 19, 2009 6:13pm Jan 19, 2009 6:13pm
Quoting Ronald Raygun
The coin toss is meant to make you ignore your entry. What matters is how you exit a trade =D You saw that EU was going down, so what do you do? Get out and flip until you get a short.
I like that...keep flipping until you get the reusult that you want
"Keep your eyes on the helpers" - Mr. Rogers
  • #55
  • Jan 19, 2009 6:15pm Jan 19, 2009 6:15pm
Quoting JArbuckle
If I am reading the MACD trend indicator correctly (14:50GMT 1/19/09) , we are currently trending LONG on GPBUSD on the 30M chart from 00:00 (1/19) because we broke the high of the previous blue set.

However, we are currently SHORT on the GBPUSD on th 1HR chart from 16:00 GMT (1/16) because we broke the low of the previous red set.

What are your thoughts on the conflicting trend signals? GBP has dropped nearly 450 pips as of this post but yet our 30 min trend indicator still signals LONG.

If we would have followed the SHORT signals on the...
Good point on the Bank Holiday....this is definietly a system you don't want to trade when there is low volume.

Divergence is also very important and is certainly something to keep in eye on.
"Keep your eyes on the helpers" - Mr. Rogers
  • #56
  • Jan 19, 2009 6:37pm Jan 19, 2009 6:37pm
We started the day 5 for 6 for +58 pips before going into the U.S session during a bank holiday. Although sometimes trading can be good on a bank holiday, I think that this system needs market volitility and good volume. Niether of which will happen during a bnk holiday usually.

The final results for today were as follows:

EurUsd 3 for 3 = +3, +4, and +19 pips

UsdJpy 0 for 5 = -25, -25, -25, -25 and -25 pips

That gives us totals for the day of 8 for 14 for -41 pips of loss. Now, the loss does not bother me, but had I known it was a bank holiday, I would have called off trading earlier. But since I didn't I wanted to post the results.

Analysis for today is a follows......

  1. Had we been using rule #4 as our s/l rule, instead of losing -125 pips on UsdJpy today, we would have only lost -67 pips. Usnig this s/l rule would have cut our losses in half, and really might be a viable way to handle the s/l situation. However, it was a bank holiday and to draw any long term conclusion from today would not be a good idea. Using this s/l rule would have also saved us 5 pips on our GbpUsd loss earlier and not effected any of our winning trades one bit.
  2. My next proposed rule is to not trade US session during US bank holiday and not trade European session on European Bank holiday. Whether we should take the whole day off if either of these two occur needs to be checked and so for now I just say let's take the session off corresponding with the bank holiday. I have added this rule into the 1st post.

If anyone has any thoughts about this, I would be glad to hear them. Thanks and have a great day trading.....

"Keep your eyes on the helpers" - Mr. Rogers
  • #57
  • Jan 19, 2009 8:44pm Jan 19, 2009 8:44pm
Quoting damonl
I like that...keep flipping until you get the reusult that you want
Lol, that's the easy way of course. You can try to catch retracements to recover losses (what I do).
  • #58
  • Jan 20, 2009 5:03am Jan 20, 2009 5:03am
Using Rule #4, if you are already below/above the low/high of the entry bar, but have not yet reached the stop loss, does that mean you should close at the close of the entry bar and take that loss?

Thanks,
Mary
  • #59
  • Jan 20, 2009 6:06am Jan 20, 2009 6:06am
Also, should we continue to move the SL to 1 pip below/above the close of each consecutive candle that we are in the trade?

Mary
  • #60
  • Jan 20, 2009 2:24pm Jan 20, 2009 2:24pm
Quoting marisialb
Using Rule #4, if you are already below/above the low/high of the entry bar, but have not yet reached the stop loss, does that mean you should close at the close of the entry bar and take that loss?

Thanks,
Mary
no....don't take a loss until it hits your s/l
"Keep your eyes on the helpers" - Mr. Rogers
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