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Attachments: Great GBP/USD Strategy for Swing Trades
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Great GBP/USD Strategy for Swing Trades

  • #241
  • Apr 5, 2007 8:06pm Apr 5, 2007 8:06pm
Quoting jeffreytp
I will test this on GBP/UDS from mid Nov 2006 thru now, as I have done manually for this thread. I will post the results and conclusion.
Jeffreytp,

Just curious if you ever researched my method for the exit?...using MACD. See post 164. Looks like we will be taking some trades next week...

1Trader2
  • #242
  • Apr 6, 2007 12:08am Apr 6, 2007 12:08am
Quoting jeffreytp
Did you account for drawdown? You're going to have some losing trades. Even if you have a SL there will be some losses, but longterm, you'll be ahead.

My next task is to look at GBP/JPY. I already know the PIP gains are CRAZY http://www.forexfactory.com/images/icons/icon7.gif, but I have to examine the drawndown risk...
Jeff...

Yeah dude, there will be drawdowns. For example, the first trade of February 7th, there was a signal, but then if you would have gotten out when the 4 ema crossed the 13ema, a person would have had a 13 pip loss which is no big deal. But, then, a day later, there was another signal and that trade would have yieled at least 100 pips(I go for 100 pips each time I trade regardless if the trade does more than that). Then on Feb. 22 there was another signal that would have yielded another 100 pips. So, that month would have been a 182 pip month for me had I been trading that month.

hilton
  • #243
  • Apr 6, 2007 2:41am Apr 6, 2007 2:41am
Sounds interesting, i'm writing an EA now to see what is worth.
Thanks for sharing.
{Promotion Removed}
  • #244
  • Apr 6, 2007 3:33am Apr 6, 2007 3:33am
Hi,
Thank you for sharing system.

I'm trying to do some backtesting and just need a quick clarrification on the entry. Is the process is in order, First, the entry signal on the 4hr chart then check day chart for the filter. Or is it wait for stoch cross on the day chart then look for entry on 4 hr chart.



Ta

Yellow
  • #245
  • Apr 6, 2007 3:41am Apr 6, 2007 3:41am
First look for a cross on 4hour chart for entry signal, then look at daily chart if the daily stoch is in same direction as the 4hour ema cross

hope this helps


Quoting Yellow2
Hi,
Thank you for sharing system.

I'm trying to do some backtesting and just need a quick clarrification on the entry. Is the process is in order, First, the entry signal on the 4hr chart then check day chart for the filter. Or is it wait for stoch cross on the day chart then look for entry on 4 hr chart.



Ta

Yellow
  • #246
  • Apr 6, 2007 3:50am Apr 6, 2007 3:50am
Quoting peterdxb
First look for a cross on 4hour chart for entry signal, then look at daily chart if the daily stoch is in same direction as the 4hour ema cross

hope this helps


Thanks
  • #247
  • Apr 6, 2007 6:44am Apr 6, 2007 6:44am
Quoting M256
Sounds interesting, i'm writing an EA now to see what is worth.
Thanks for sharing.
Well, I've written it, and it seems to work great.

It made 3488$ profit in two months backtesting, and doubled the money(initial 10000$) in one year (For some reason MT doesn't let me backtest on dates before 2006).

Thanks, buddy!
{Promotion Removed}
  • #248
  • Apr 6, 2007 7:15am Apr 6, 2007 7:15am
can you share the ea for us please ?


Quoting M256
Well, I've written it, and it seems to work great.

It made 3488$ profit in two months backtesting, and doubled the money(initial 10000$) in one year (For some reason MT doesn't let me backtest on dates before 2006).

Thanks, buddy!
  • #249
  • Apr 6, 2007 7:42am Apr 6, 2007 7:42am
the 4 just crossed on the GBP. I assume we wait for the 13 to cross the 50 and take the trade on the next 4hr candle open?
Life is too short to have anything but delusional notions about yourself.
  • #250
  • Apr 6, 2007 7:43am Apr 6, 2007 7:43am
Hello.
Another new possibility to step in position in GBPUSD slowly forming?
Gabe
  • #251
  • Apr 6, 2007 8:15am Apr 6, 2007 8:15am
Yes short coming up on GBP/USD. Daily stoch is alrady down, so after ema cross on 4hour, enter on open of next candle
  • #252
  • Apr 6, 2007 9:24am Apr 6, 2007 9:24am
I may have missed it earlier in the thread but how do you treat the weekend? If there is a valid signal on Friday is there a problem with taking it?
  • #253
  • Apr 6, 2007 9:48am Apr 6, 2007 9:48am
Hi Guys....

I've notice the possibility too...
the 4 is already cross and it seems that we have short coming up on cable

but i suppose it will happen on monday rite ??
cuz i think the probability the 13 will cross the 50 will occur on monday

Quote
If there is a valid signal on Friday is there a problem with taking it?

If i think it's too early too trade this pair, is it wrong ??
or the down of daily stoch is already a valid confirmation to take the trade ??

well pavejon, we have the same worry though...
Every moment in the market is unique
  • #254
  • Apr 6, 2007 10:00am Apr 6, 2007 10:00am
I wouldn't take it going into the weekend. I wouldn't take it until that second ema crosses. Then you will never second guess yourself or the system. Stick with the rules and you will never get mad at yourself for making the wrong move!


Quoting andimozza
Hi Guys....

I've notice the possibility too...
the 4 is already cross and it seems that we have short coming up on cable

but i suppose it will happen on monday rite ??
cuz i think the probability the 13 will cross the 50 will occur on monday



If i think it's too early too trade this pair, is it wrong ??
or the down of daily stoch is already a valid confirmation to take the trade ??

well pavejon, we have the same worry though...
Life is too short to have anything but delusional notions about yourself.
  • #255
  • Apr 6, 2007 10:04am Apr 6, 2007 10:04am
My chart shows the 13ema is just 12 pips away from crossing the 50. Based on the daily, I'm opening a small short now and will add more once the cross is confirmed.
  • #256
  • Apr 6, 2007 10:21am Apr 6, 2007 10:21am
exactly right hoss,
everybody .....stick to the rules and get used to it . if you get in too early you will have many many false starts . try to do a back test of all the trades that were "nearly" ready and you will have many many losers which affect you psychologically and financially , i can assure you .
stick to the road , dont get lost in the jungle
  • #257
  • Apr 6, 2007 10:27am Apr 6, 2007 10:27am
Well said. Remember that you open at the next 4hr candle AFTER the cross. Be patient. This may be a 4hr trend line test.

Quoting mcdonnellc
exactly right hoss,
everybody .....stick to the rules and get used to it . if you get in too early you will have many many false starts . try to do a back test of all the trades that were "nearly" ready and you will have many many losers which affect you psychologically and financially , i can assure you .
stick to the road , dont get lost in the jungle
Life is too short to have anything but delusional notions about yourself.
  • #258
  • Apr 6, 2007 11:42am Apr 6, 2007 11:42am
Quoting 1trader2
Jeffreytp,

Just curious if you ever researched my method for the exit?...using MACD. See post 164. Looks like we will be taking some trades next week...

1Trader2
I did test the exit using MACD from 11/21/06 - 3/16/07 and the pip gain was FAR less than using the EMA or 4H Stoch as an exit.
  • #259
  • Apr 6, 2007 12:48pm Apr 6, 2007 12:48pm
Howdy VyNNeR and all. Good to see this thread still hopping. I've not been following, but will take the cable trade on Monday.

I've revamped the indicator, but now I see someone's programmed an EA. Good going.

This indicator does as follows:

When the daily stoch is below the signal AND
The 4 is below the 50

It gives a "short pre-setup" alert ONCE.

When the 13 then crosses below the 50 it will give the "short trade setup" alert every minute.

All the opposite for long presetup and long trade.

You can turn on Email alerts and sound also. Default for both is false. Either way an alert box pops up on your screen.
Attached File(s)
File Type: mq4 VyNNeR Swing v1.1.mq4   3 KB | 734 downloads
  • #260
  • Apr 6, 2007 1:20pm Apr 6, 2007 1:20pm
I'm using Metatrader 4 for the first time today - how do I import that file?
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