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Trend Follower 5 Minute System

  • #2,641
  • Feb 8, 2009 9:17am Feb 8, 2009 9:17am
Quoting kuky969
Pilatus
Yes
I agree .thank for advice.
I like to draw in chart trend line and SL level too. I see on potential of trade too . When daily average move is 200 pips and today we moved 190pips I dont take trade in direction of move . I dont like trade usd/jpy and gbp/usd because I think it needs bigger SL. Yes correlation is very helpful.

What about trade before open London.??? Do you take it ?? It dangerous because very often in open London price make spike,take SL and go your direction without you.
I do not trade any session except London and New York. This is by the rules. Next I enter a trade around London open only if I see good rebound from some significant level. Other set up I do not trade ,rather wait for some
large volume to occur and then enter on another signal. If price do not make large volume and go in one direction I wait for another set up. Patience, patience, patience.
  • #2,642
  • Feb 8, 2009 10:26am Feb 8, 2009 10:26am
Quoting pilatus
Nicotine, can you please tell me how much stop loss did you have on those 1 and 4 hours time frames? Becase if if you took 60-70 pips and your stop loss was 100 that is not good risk reward ratio....
For example for 4 hous charts,my stop loss about about -120 pips and take profits about 200 pips but i can not wait when it is +60 or +80 pips and i take it.Yes i know that can be a problem but, i cam happy with positive +60 pips )

Anyway i dont enter a postion for example stop loss -100 take profit +50. i dont do that, but i said before i close it early and take it +60 pips.
(i hope i can tell it )
  • #2,643
  • Edited 10:59am Feb 8, 2009 10:30am | Edited 10:59am
Thanks for your helpful advice Pilatus. I am planning on seriously trading this method this week.
Ruby

Quoting pilatus
I do not trade any session except London and New York. This is by the rules. Next I enter a trade around London open only if I see good rebound from some significant level. Other set up I do not trade ,rather wait for some
large volume to occur and then enter on another signal. If price do not make large volume and go in one direction I wait for another set up. Patience, patience, patience.
  • #2,644
  • Feb 8, 2009 11:03am Feb 8, 2009 11:03am
Quoting nicotine
For example for 4 hous charts,my stop loss about about -120 pips and take profits about 200 pips but i can not wait when it is +60 or +80 pips and i take it.Yes i know that can be a problem but, i cam happy with positive +60 pips )

Anyway i dont enter a postion for example stop loss -100 take profit +50. i dont do that, but i said before i close it early and take it +60 pips.
(i hope i can tell it )
Will you wait to price get your stop loss at 120 pips minus or you will close earlier? Let say that you close earlier on 80 pips minus and then sudenly price rokcet in you direction and go in plus 150 pips. You would say to your self" damn I should wait". Discipilne your self what ever time frame you use.
  • #2,645
  • Feb 8, 2009 11:18am Feb 8, 2009 11:18am
no, i always wait to reach stop loss, but i dont wait price fot my TP, that's the thing which i want to say...

And i dont say "ohh damn, i am stupid,what did i do" every fault which i did, is a good experince for earn money.
Price will go up +250 pips,but i clos my positon with +60 pips but I am happy with my +60 pips )
  • #2,646
  • Feb 8, 2009 11:43am Feb 8, 2009 11:43am
Pilatus,

In regard of alerts ,i am using this indicator i have pick up while reading all the posts ,i have rename it ,do not remember the original name,the issue is that it's giving me a late and double signals.Is anyone have the right alert indicator for the Thewicker system ?
Attached Image (click to enlarge)
Click to Enlarge Name: dd.gif Size: 44 KB
Attached File(s)
File Type: mq4 NEWEMA Crossover Signal.mq4   4 KB | 1,087 downloads
"Everything subject to destruction before even be created"
  • #2,647
  • Feb 8, 2009 12:21pm Feb 8, 2009 12:21pm
Quoting plasvegas
Pilatus,

In regard of alerts ,i am using this indicator i have pick up while reading all the posts ,i have rename it ,do not remember the original name,the issue is that it's giving me a late and double signals.Is anyone have the right alert indicator for the Thewicker system ?
Here is what I use.
Attached File(s)
File Type: mq4 SignalTrendFollower + SnapShot.mq4   11 KB | 1,240 downloads
  • #2,648
  • Feb 8, 2009 3:17pm Feb 8, 2009 3:17pm
pilatus how many singal do u take in 5min chart in one week ( average )
  • #2,649
  • Feb 8, 2009 3:39pm Feb 8, 2009 3:39pm
Quoting nicotine
pilatus how many singal do u take in 5min chart in one week ( average )
Avearage 3 good signals. There is a week that there is no good signals too. As I said houndred times before, that depends on market conditions not on system. This is trend follower system, not break out system, it needs trend to produce signals.
  • #2,650
  • Feb 8, 2009 3:43pm Feb 8, 2009 3:43pm
PIlatus, You only trade with the pairs that Wicker described in first post?

Quoting pilatus
Avearage 3 good signals. There is a week that there is no good signals too. As I said houndred times before, that depends on market conditions not on system. This is trend follower system, not break out system, it needs trend to produce signals.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #2,651
  • Feb 8, 2009 3:45pm Feb 8, 2009 3:45pm
Quoting ikki
PIlatus, You only trade with the pairs that Wicker described in first post?
I am trading only by the rules which you can read on first post, so answer is YES.
  • #2,652
  • Feb 8, 2009 11:34pm Feb 8, 2009 11:34pm
Quoting pilatus
Here is what I use.


Thks pilatus,
"Everything subject to destruction before even be created"
  • #2,653
  • Feb 9, 2009 8:15am Feb 9, 2009 8:15am
Does anyone know when the red or green arrow pop up EXACTLY.
Do they appear immediately at the opening of the following bar, OR, does it open at ANY PERIOD during the following bar???

thanks
  • #2,654
  • Feb 9, 2009 11:00am Feb 9, 2009 11:00am
Is SignalTrendFollowerEA-V1.2 the most recent EA?

If there is a more recent EA, which one is it?

thanks.
  • #2,655
  • Feb 9, 2009 11:02am Feb 9, 2009 11:02am
Quoting dread
Does anyone know when the red or green arrow pop up EXACTLY.
Do they appear immediately at the opening of the following bar, OR, does it open at ANY PERIOD during the following bar???

thanks
Immediately following the opening of the next bar/candle
  • #2,656
  • Feb 9, 2009 4:02pm Feb 9, 2009 4:02pm
First off , Thank You Mr. Wicker for sharing this information with everyone . I have learned a great deal ... again Thank You ...
Now my question is for the forum .... there has been mentioned many times about compairing the 5-min. chart with the 30-min/1-hr. chart to confirm trend or signals on the chart 's. In helping makeing a decision on taking a trade . Yet no example has been posted with the two,(2), charts next to each other .....to see the visual compairson of the charts with indicators giving signals ..... It would clear a lot of things up for me if this could be done.
A very greatfull Thank You in advance ............ buffalopip......
  • #2,657
  • Feb 9, 2009 5:10pm Feb 9, 2009 5:10pm
Quoting buffalopip
First off , Thank You Mr. Wicker for sharing this information with everyone . I have learned a great deal ......
Here is how I valuate good signal. This is what you want to see I hope.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd1h.gif Size: 25 KB
Click to Enlarge Name: eurusd5min.gif Size: 68 KB
  • #2,658
  • Feb 9, 2009 5:18pm Feb 9, 2009 5:18pm
Thanks Pilatus , i will look at this and let You know . Take a hard and long look at it .... again , thanks ......buffalopip....
  • #2,659
  • Edited 6:17pm Feb 9, 2009 5:48pm | Edited 6:17pm
This is an example of a valid signal not taken. Too close to the support line with poor risk/reward ratio. Also outside the trading hours.
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 39 KB
  • #2,660
  • Feb 9, 2009 5:53pm Feb 9, 2009 5:53pm
That's what i was looking for .... very good example and break down on the charts ... now when someone says to compair the time frames i'll have a good understanding of what they are talking about ..... again , Thank You Pilatus ................ buffalopip
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