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Trade the Slope System

  • #321
  • Feb 28, 2009 6:02am Feb 28, 2009 6:02am
Quoting chamane
I just finished reading this thread and the system suggested by ematrader seems very profitable. The only thing that bugs me is the repainting issue. Other posts on other forums are evoquing that possibility for HMA and it hasn't been discussed thoroughly here.

In any case, I enclosed a (supposedly) non repainting HMA indicator I found somewhere.

Also, playing with different indicators, I found that PSAR (0.11, 0.1) is giving signals similar or close to HMA (20, 3) (see picture) so it could be uesd in place of the latter in ematrader's system....
Hi
Have a look at this System.and combine it with the SLOPE,maybe
http://www.forexfactory.com/showthread.php?t=91789




baz
  • #322
  • Feb 28, 2009 6:14pm Feb 28, 2009 6:14pm
Hi Baz,

Thanks for the link. Have you tried that system yourself? I have but I got discouraged after a couple of losses. Maybe I should keep trying. It would be nice to show your track records if you happen to have one.

Regarding the possibility of combining this system with the Slope, I don't know if I would be able to interpret the chart correctly. I have the feeling that there would be too much indicators telling the same thing. AO, AC (I think) and Stochastic are based on moving averages and so is HMA (or the Slope) obviously.

I have tried many systems so far and the approach I prefer up to now is the multiple timeframe approach because I understand what is going on (although I would love to predict it 100%). It's a matter of doubling the retracement and momentum at different scales. The nice thing there is to it is that you can use the indicator you want. I guess you should know that...

Anyway, I am trying to make a setup of the Slope system for scalping 5min charts (see picture) wich is what I prefer because the risks are smaller and you can still make over 100 pips per day wich is my goal using. It would use the HMAs and PSAR. My rules are buy or sell when HMAs, PSAR and the last closed candle are in agreement.

I don't have much experience in money management, that is what I am working on right now. I would set initial stop loss on the last PSAR dot and manually move the stop to each subsequent dot, and to the breakeven + 10 pips whenever possible (as quick as possible). Afterwards, move the stop to every slice of 25 pips if situation allows it. Also, I think I would entry once again at every retracement of PSAR if HMAs are still in agreement. The important thing would be to take advantage of long movements so to cut down losses as much and as soon as possible.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: Example.gif Size: 73 KB
  • #323
  • Mar 1, 2009 7:02am Mar 1, 2009 7:02am
Quoting chamane
Hi Baz,

Thanks for the link. Have you tried that system yourself? I have but I got discouraged after a couple of losses. Maybe I should keep trying. It would be nice to show your track records if you happen to have one.

Regarding the possibility of combining this system with the Slope, I don't know if I would be able to interpret the chart correctly. I have the feeling that there would be too much indicators telling the same thing. AO, AC (I think) and Stochastic are based on moving averages and so is HMA (or the Slope) obviously.

I have tried...
hi Chamane

i dont personaly use the SLOPE,but since you were looking at adding PSAR,i thought the Ash Daily may help,i think you can look at the SLOPE settings of 15 TO 20.....ie just see what will fit the trend.
Have you been to these 3 Threads, the best place to Learn ...

http://www.forexfactory.com/showthread.php?t=69786

http://www.forexfactory.com/showthread.php?t=2331

and for Day Trading

http://www.forexfactory.com/showthread.php?t=121761

James 16 is a MUST...........

baz
  • #324
  • Mar 1, 2009 9:20am Mar 1, 2009 9:20am
Quoting baz
hi Chamane

i dont personaly use the SLOPE,but since you were looking at adding PSAR,i thought the Ash Daily may help,i think you can look at the SLOPE settings of 15 TO 20.....ie just see what will fit the trend.
Have you been to these 3 Threads, the best place to Learn ...

http://www.forexfactory.com/showthread.php?t=69786

http://www.forexfactory.com/showthread.php?t=2331

and for Day Trading

http://www.forexfactory.com/showthread.php?t=121761

James 16 is a MUST...........

baz
Thanks. It's already bookmarked. I am starting this week with my settings and will see how it works. I am using HMA34, HMA65 and HMA125 to start off. I thought lower periods for the current timeframe will produce to many whipsaws, but I will still keep an eye on that. Actually, I use HMA13 for timeframes 5 times (HMA65) and 25 times (HMA125) higher than the current. They're basic Fibonacci numbers (13 and 34). It's just an idea to start. I will adjust with first results and according to pairs.

Chamane
  • #325
  • Mar 1, 2009 10:33am Mar 1, 2009 10:33am
Quoting chamane
Thanks. It's already bookmarked. I am starting this week with my settings and will see how it works. I am using HMA34, HMA65 and HMA125 to start off. I thought lower periods for the current timeframe will produce to many whipsaws, but I will still keep an eye on that. Actually, I use HMA13 for timeframes 5 times (HMA65) and 25 times (HMA125) higher than the current. They're basic Fibonacci numbers (13 and 34). It's just an idea to start. I will adjust with first results and according to pairs.

Chamane
ok .......all the best with your Trials .....

baz
  • #326
  • Mar 15, 2009 8:38pm Mar 15, 2009 8:38pm
OK Guys Try This.
-Open a Daily Chart ie: GBP/JPY
-Add the Slope Line Indicator to Chart and in the Inputs Set at 12-3-0.
-Add another Slope Line Indicator and in the Inputs Set at 80-3-0.
-The 80 Slope Line Shows you the Trend
-The 12 Slope Line Shows you the Retracements.
-Now when the Retracement comes to a end, which is the 12 Slope line go in the trade when both the 80 and 12 are going the same Direction and Exit when the 12 changes colour. See Chart below.
I went in this one at 136.98 at 6.04 EST.
Attached Image (click to enlarge)
Click to Enlarge Name: 1000.gif Size: 41 KB
My Email For Help: [email protected]
  • #327
  • Mar 15, 2009 8:46pm Mar 15, 2009 8:46pm
Guys The Post Back Try it, You Like It>
My Email For Help: [email protected]
  • #328
  • Mar 15, 2009 8:59pm Mar 15, 2009 8:59pm
Hi Tccm

Just found this thread.. i love the slope's but not into the daily chart. What in the world are you using for a stop loss ???? and profit target ?? Richard
  • #329
  • Mar 15, 2009 9:09pm Mar 15, 2009 9:09pm
Quoting skybiz007
Hi Tccm

Just found this thread.. i love the slope's but not into the daily chart. What in the world are you using for a stop loss ???? and profit target ?? Richard
When you go in put your stop below the lowless previous bar then move it every day But Always three bars back
My Email For Help: [email protected]
  • #330
  • Mar 15, 2009 9:11pm Mar 15, 2009 9:11pm
Look at these Trades. Two trades I went in late EUR/USD and EUR/JPY
The GBP/JPY I went tonight
Look at the chart
Check These 3 currencies on your charts with this method you will see.
Attached Image (click to enlarge)
Click to Enlarge Name: 1000.gif Size: 46 KB
My Email For Help: [email protected]
  • #331
  • Mar 15, 2009 9:23pm Mar 15, 2009 9:23pm
Here is the USD/JPY Chart
Attached Image (click to enlarge)
Click to Enlarge Name: 1000.gif Size: 35 KB
My Email For Help: [email protected]
  • #332
  • Mar 15, 2009 9:37pm Mar 15, 2009 9:37pm
Rules Post #326
My Email For Help: [email protected]
  • #333
  • Mar 15, 2009 9:49pm Mar 15, 2009 9:49pm
You can wait also to get in when the 4 HR and 1HR slopes are showing the colours the same way as your Daily which is your Trade Chart
My Email For Help: [email protected]
  • #334
  • Mar 15, 2009 9:53pm Mar 15, 2009 9:53pm
Here is a Tip When you want to know how long a Daily Bar will go. Put your ATR on the chart and Set it to 5, when you touch the bar with your cursor you went in on, this will show how much that bar will roughly make in pips to guide you.
My Email For Help: [email protected]
  • #335
  • Mar 15, 2009 10:00pm Mar 15, 2009 10:00pm
Look at the USD/JPY you can go in, the slopelines are in the same direction but the 80 slopeline is sideways you can wait
This USD/JPY on this Method tonight went 22pips as of now when the bar opened at 8.00pm est but I didn't go in yet
My Email For Help: [email protected]
  • #336
  • Mar 15, 2009 10:09pm Mar 15, 2009 10:09pm
Should I Start a new Thread?
My Email For Help: [email protected]
  • #337
  • Mar 16, 2009 6:44am Mar 16, 2009 6:44am
Quoting tcmm
OK Guys Try This.
-Open a Daily Chart ie: GBP/JPY
-Add the Slope Line Indicator to Chart and in the Inputs Set at 12-3-0.
-Add another Slope Line Indicator and in the Inputs Set at 80-3-0.
-The 80 Slope Line Shows you the Trend
-The 12 Slope Line Shows you the Retracements.
-Now when the Retracement comes to a end, which is the 12 Slope line go in the trade when both the 80 and 12 are going the same Direction and Exit when the 12 changes colour. See Chart below.
I went in this one at 136.98 at 6.04 EST.
--------------------------------------------------------------------------------------------

Looks quite interesting.

Could you give me the text version of this (slope line) indicator please since I'm using a different software at the moment.

Thanks for taking your time.

Ch.
  • #338
  • Mar 16, 2009 11:03am Mar 16, 2009 11:03am
Quoting Charles
--------------------------------------------------------------------------------------------

Looks quite interesting.

Could you give me the text version of this (slope line) indicator please since I'm using a different software at the moment.

Thanks for taking your time.

Ch.
The Slopeline Indicator is in the First Post Put it in the Metatrader Plateform
and add it to your daily chart twice with the 2 different Settings 80-3-0 and 12-3-0.
My Email For Help: [email protected]
  • #339
  • Mar 16, 2009 8:43pm Mar 16, 2009 8:43pm
Ok Summary on Results on The 2 Slopeline Method Daily Charts

GBP/JPY Daily Chart Went in at 136.98 and out at 138.95 = 197 Pips
EUR/USD Daily Chart Went in at 1.2803 and out at 1.3050 = 247 pips

I am still in the USD/JPY at 98.08 its about now at 98.35 for 27 pips
Both Slopelines are the same up colour and direction. From yesterday thats 3 trades so far on Daily Charts, which you check once a night with less time on computer then trading low timeframes.
My Email For Help: [email protected]
  • #340
  • Mar 17, 2009 12:26am Mar 17, 2009 12:26am
Please explain your SL and TP.
Do you to take profit everyday?
Thanks
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