DislikedHow is the first signal ok? it's outside trading hours?
I didn't mean to contradict what you said I just can't see the good setup on GBP/USD and since I trade this I was trying to see if maybe I had missed it?
I just want to know the leaway with laguerre and MACD. Is it all on bar or one after or is there some leaway with one or both?
ThanksIgnored
Trend Follower 5 Minute System
- #2,762
- Mar 13, 2009 10:38am Mar 13, 2009 10:38am
Hello to all the people working with this system.
First of all I want to tell you that I used to demo trade this system for around one month before, but I got bored because I had to wait a lot to get good signals, and finally I started entering in tades with not good entry signals.
After that I tried others systems here in FF, and I found that this system is really, REALLY relaible, specially for newbies (6 month trading) like me
, because rules are clear and although it is dicretional, you dont need to much nowledge an screen experience to check when we have a good signals.
I know that there are not much people following this system, but the few that still follow it, love it, and thats impressive, I am strating loving it too.
Finally I am having positive PIPs with this system in a Live acount, this week haven't give too many signals. I just took some not so good, but exited fast with + 15 or + 20 Pips, because I didnt feel complete confortable with the setup, some of them went to +80 or + 100 but some of them got loosers.
Anyway, as many of the experienced people in this system has told us this system can average 400 PIPs or more a Month easily, with 2 or 3 good signals a week, so is amazingly profitable.
Imagine you have a 10.000 Trading capital, with an average of 40 Pips SL, you can trade 0.5 lots risking 2% of your trading capital and get 20% profit in a mont. Never risk more than that.
Now I started working full time in trading, so I will be posting good and bad trades here. I still have problems with exits, because I get scared and exit sooner than the real exit rules. I will have to work in trust more in my system.
So Pilatus, that have been in the leadership of this thread lately, and the wicker, thanks a lot and hope to work together.
BTW, I am trying a little change in the MACD due to the high volatility of the market since Octuber, to 5, 21, 5 then I have found good entry points, that could be rejected with the other setting 5, 35, 5. Id like to have your coments. Still Demoing and not trying to propose a change, the system as is is good, just for discution propouses.
First of all I want to tell you that I used to demo trade this system for around one month before, but I got bored because I had to wait a lot to get good signals, and finally I started entering in tades with not good entry signals.
After that I tried others systems here in FF, and I found that this system is really, REALLY relaible, specially for newbies (6 month trading) like me
, because rules are clear and although it is dicretional, you dont need to much nowledge an screen experience to check when we have a good signals. I know that there are not much people following this system, but the few that still follow it, love it, and thats impressive, I am strating loving it too.
Finally I am having positive PIPs with this system in a Live acount, this week haven't give too many signals. I just took some not so good, but exited fast with + 15 or + 20 Pips, because I didnt feel complete confortable with the setup, some of them went to +80 or + 100 but some of them got loosers.
Anyway, as many of the experienced people in this system has told us this system can average 400 PIPs or more a Month easily, with 2 or 3 good signals a week, so is amazingly profitable.
Imagine you have a 10.000 Trading capital, with an average of 40 Pips SL, you can trade 0.5 lots risking 2% of your trading capital and get 20% profit in a mont. Never risk more than that.
Now I started working full time in trading, so I will be posting good and bad trades here. I still have problems with exits, because I get scared and exit sooner than the real exit rules. I will have to work in trust more in my system.
So Pilatus, that have been in the leadership of this thread lately, and the wicker, thanks a lot and hope to work together.
BTW, I am trying a little change in the MACD due to the high volatility of the market since Octuber, to 5, 21, 5 then I have found good entry points, that could be rejected with the other setting 5, 35, 5. Id like to have your coments. Still Demoing and not trying to propose a change, the system as is is good, just for discution propouses.
Hello to all the people working with this system.
First of all I want to tell you that I used to demo trade this system for around one month before, but I got bored because I had to wait a lot to get good signals, and finally I started entering in tades with not good entry signals.
After that I tried others systems here in FF, and I found that this system is really, REALLY relaible, specially for newbies (6 month trading) like me
The success rate of this system has fallen a lot to around 30%. So technically less that one in three of ALL signals are winners, so it has never been more important to be able to recognise a 'GOOD SIGNAL'.
Problem is I am finding it more and more difficult to do this. There isn't a chat room to talk to people live and there are not many people left on this thread however Pilatus continues to give good advice.
As rookie traders we need a lot of advice and I continue to urge the Wicker to return to the thread he created and do some LIVE trading and explain good and bad signals as the criteria seems to have changed.
Look forward to seeing you on the thread, it needs all the members it can get!
Cheers
- #2,769
- Mar 15, 2009 5:29am Mar 15, 2009 5:29am
Hello to all the people working with this system.
First of all I want to tell you that I used to demo trade this system for around one month before, but I got bored because I had to wait a lot to get good signals, and finally I started entering in tades with not good entry signals.
After that I tried others systems here in FF, and I found that this system is really, REALLY relaible, specially for newbies (6 month trading) like me
I agree with you when you say that this system is easy to follow due to its clear signal and easy direction recogntition of entering. I know, it is problem to recognize what signal is good and what signal will give you bad results. I know that you have problem with exit too.
So, your problem is that you are not sure how good is this system and you have self confidence problem. On the other side you are sure that you want pips, that you want money that you want to trade.
So, best things to win those problems is to test. I recommend you to do next. Go in past for 6 months and start test. But do not cheat and look forward, to solve that problem use F12. F12 will move your chart candle by candle and when you see signal write down on the paper. Use one pair to test. Before that, write down you rules to enter(guppy, lagg and macd, trend, fib, stop loss etc). So take in consideration only signals according to your rules. When you finish you will have statistics how good is that system. How many winners and losses. And you will be sure in real trade that your system is winning in particular percent.
Now exit. Best exit by the wicker recommendation is by the help of pivot levels. But you can not use that in past because there are no levels(for testing). So, thanks to TheWicker archness he put slope direction line to help us when to exit if we do not know when. So exit when directio slope line change color. ON that way you may loose some pips but you will be sure what you are doing.
Now changing parameters. It is ok if you discovered that new parameters are giving better results. BUt you need to test it before and test it well. Not just last week or few trades or signals. You need to have constantly better results with your new parameters.
MY results on testing on eur/usd are about 75% wining ratio. One imoprtant thing too. Best results this system produce when there is a trend. So I intentionaly tested good trend from when Eur/usd started to decline in jully 08. I discovered that I had about 30 trades, 9 losses and everything else winners. But in those 9 looses there was 7 long trades and just 2 short trades. What is that telling us? That is telling us if I entered only short trades I would have maybe 21 total trades and only 2 losses. Woow that is something new .....Ok maybe few looses more, before I recognize that trend is declining and that I should enter only short signals. Period of testing was from 15.07. to 15.11.08. or something like that, can not remember any more because my data are missed due to pc failure. There is one thing more that i discovered. IF I want to enter in that decline or short trend less times and get more pips it is better to put slope line indicator to 400 instead of 80. But that is only if we have trend or decline like we tested. If market conditions are not like that trend it is better to have normal set up. By the way on that way I made 100% more pips than with original set up of slope direction.
So want to say that is very important to recognize pair with the trend analyzing higher time frame with trend lines, fibs, channels etc. Enter only in direction of mayor trend. So for exit again, use pivot as soon as you can and look for s/r to exit your position partially and put breakeven. DO not expect to take 100 pips with full 1 lot unless you are not sure what you are doing.
Hope I helped.
