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EUR/GBP Trendmagic System

  • #201
  • Jun 4, 2009 9:11am Jun 4, 2009 9:11am
First, many thanks to Paulus and TudorGirl for their efforts - Paulus, I know you from way back with your ER2 blogs - been awhile!

Regarding exits, TPs, SLs, etc, I do believe that the determination needs to be made as to whether we are looking at scalping or trend/longer term trades.

If the "system", or individual trader, is focused on scalping, I personally have NEVER found an indicator other than S/R, on price or indicators, that is effective in determining targets. It is simply to fast, and too much is given back. A 1min time frame, with an up move of 5 candles, and by the time any indicator begins to show weakeness or turn, you are 4 candles back in the other direction. I do not see indicators as the answer here.

I think Horrigan has the right idea, with predetermined TPs based on the pair being traded. Can you hold past that? Of course, we all have when a pair just takes off like a bat out of hell, and our 10pt scalp turns into 80 in a few mins. BUT.... discretion is not a system, and it seems that is the focus now - a set of rules that can be applied consistently.

For longer term, I will have to defer that. The close below the TM line is certainly one way to go, but maybe we just have to rely on good old fashioned TA for determining weakness. That is the nature of the beast with long term or "position" trading - you will give some back for the sake of letting a position breathe. But, 1100 pips vs 1300 pips? TG has expressed her intelligence (for the 100th time) in not worrying over 200 pips after a move like that. In short, just great trading on her part.
  • #202
  • Jun 4, 2009 9:21am Jun 4, 2009 9:21am
Were all different

I like my ' swim with sharks ' theory really to be honest

Take a predetermined amount of points and quit for the day..

Trading can be equated to swiming in an ocean of sharks once you have your pips get out of the water and onto dry land lols

The longer you stay the more chance of being bitten..

In the past I have often been sitting on 30 pips after 1 hour only to be sitting on 35 3 hrs later..

If we trade and hit a great patch and we take points quit and bank those points throughout the day we get consolidations we want to ovoid those at all costs.

I know traders who trade hundreds of contracts but are happy to take less than 10 pips a day.

I have various system over various TF I like some more than others

Listen 10 pips a day on 1 contract is $100 on 10 its $5k a week .. thats a good living on just 10 pips .. dont try to get the big moves all the time in a trend of 100 pips youd be good to get 30% of the move

30% of the move is over by the time you realise we have a strong trend and you would be very lucky to get the last 30% as it slows down we want the chunk in the middle

Cheers

Paulus
  • #203
  • Jun 4, 2009 9:42am Jun 4, 2009 9:42am
Quoting Paulus
Were all different

I like my ' swim with sharks ' theory really to be honest

Take a predetermined amount of points and quit for the day..

Trading can be equated to swiming in an ocean of sharks once you have your pips get out of the water and onto dry land lols

The longer you stay the more chance of being bitten..

In the past I have often been sitting on 30 pips after 1 hour only to be sitting on 35 3 hrs later..

If we trade and hit a great patch and we take points quit and bank those points throughout the day we get consolidations we...
Spoken by a true master. Have followed your work since way back in the 'Expat" days with the evolution of 'scalping' the various currency pairs.

Many back then were very keen on the various methodologies but, were in a battle with themselves over the accumulation of large pip counts as opposed to solid account gains based on nothing more than an 'edge' that provided a positive expectancy.

You people are on the right path imo as position trading simply does not fit well with the 'average joe' retail trader. This is due to nothing more than being undercapitalized to trade the higher TF's.

As everyone is well aware of, starting with 'dimes' and progressing to 'dollars' on a per trade basis is far more demanding than deciding to take a simple trading plan with minimal indi's and beginning to trade live.

That my good people is a journey fraught with pitfalls that will turn even the most astute and well educated minds into 'playdough' !!!!!

Sally forth and may God be merciful.
  • #204
  • Edited 9:48am Jun 4, 2009 9:44am | Edited 9:48am
Thanks for all the great feedback guys. Posted is my current setup.

As you know, I have been trading around a year on a £10K account. At the end of the year, it was around, erm...... £10K.

OK, I did better than some who lose money, but it wasn't exactly profitable either.

BUT..................... Then came the last two weeks. I am currently standing at just over £12.5K, or 25% in 2 weeks.

PLEASE GIVE ME A REALITY CHECK HERE. You may think I am very naughty but I have become rather confident in the last few days. After getting around 18 winning trades in sucession I have increased my lot size from 0.1 to 1.0 (see the screenshot)

OK, OK, I know it's probably stupid. But I am now making £100 on 5 minute trades. That's 1% in 5 minutes. And the banks are paying 1% a YEAR (LOL!!!).

Are we just going through a very very nice patch or do we genuinely have a SYSTEM here?

Anne

GBPJPY - M5, M15 and H1 all RED so taking SHORTS only timed with M1
EURGBP - M5, M15 and H1 all BLUE so taking LONGS only timed with M1
EURUSD/GBPUSD - indicators mixed so standing aside
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  • #205
  • Jun 4, 2009 9:48am Jun 4, 2009 9:48am
Hello, heve read through the entire thread a couple of times and it looks great. thanks to everyone for sharing. I am havind real problems with tudor girls HG 0001m files. every time i put them into metatrader it crashes the programe! am i doing this right? i copy and paste into metatrader/experts/indicators then load up meta and attach to chart. shortly after it crashes! sorry to be a luddite! system looks great so would love my dumb brain to be guided a bit here. i found someone earlier in thread had similar prob and was told to upgrade meta to 223 or 224. doesny meta do that automatically when there is an update? if not then what can im do?
  • #206
  • Jun 4, 2009 9:51am Jun 4, 2009 9:51am
Anne, I am so glad you are doing so well.

Can I ask if you could explain in detail how you are scalping. What TF and exactly what you do. I think I know but I want to be sure before I give it a try. I am still playing the 1HR TF but I would liek to try your scalping method.

Thank you!


Quoting TudorGirl
Thanks for all the great feedback guys. Posted is my current setup.

As you know, I have been trading around a year on a £10K account. At the end of the year, it was around, erm...... £10K.

OK, I did better than some who lose money, but it wasn't exactly profitable either.

BUT..................... Then came the last two weeks. I am currently standing at just over £12.5K, or 25% in 2 weeks.

PLEASE GIVE ME A REALITY CHECK HERE. You may think I am very naughty but I have become rather confident in the last few days. After getting around 18 winning...
Believe and Achieve!
  • #207
  • Jun 4, 2009 9:55am Jun 4, 2009 9:55am
Yes, the problem had myself... MT does'n automatically upades, only throw information on Log, "Version .224 were avaible). If you have a real account, ask your broker (or visit his website), if support dowloading the Metatrader. If you havenot a live, see the google (formula Metatrader 224 download") Or give me your email, I'll send it
Do you want an EA for your own profitable system? E-mail or PM me.
  • #208
  • Jun 4, 2009 10:00am Jun 4, 2009 10:00am
Thanks Horrigan for reply, nice to know i not the only one! will have a look at getting new version and if cant sort it will get you to email me. great stuff thankyou
  • #209
  • Jun 4, 2009 10:01am Jun 4, 2009 10:01am
Anne

Took trades on 3 pairs on 1 min tf with your indi and qqe crossing, closed all the trades with the 4x semofor sun came on top, too good to be true,

nisha
Attached Image (click to enlarge)
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Trend is your friend...
  • #210
  • Jun 4, 2009 10:02am Jun 4, 2009 10:02am
Just got another 58 pips on the AJ! (Only 0.2 lot this time but still another 1% on the account!)

Taking Paul's advice and stopping now. Am going to make an apple pie.

Anne
  • #211
  • Jun 4, 2009 10:05am Jun 4, 2009 10:05am
Before I go....

Just noticed the bottom of the page - 26 members and 40 guests reading!! Just scanned a dozen other "active" forums at random. Nothing like the number we are getting - half a dozen at most!

I hope we don't break the FF server....!!!!

Anne
  • #212
  • Jun 4, 2009 10:08am Jun 4, 2009 10:08am
Anne

I can understand the excitement, i am too
But pls do not take the plunge to 1.0 lots so soon, you can stick with 0.1 till u double ur account and then go to 0.2 lots, this way if unforseen things happen, account can get low very fast, whereas wth 0.1 lot, you can afford to take the drawdown without a heart attack, been thru it so telling it. When you can get 200-300 pips with 0.1 lot, dont overisk

nisha

Quoting TudorGirl
Thanks for all the great feedback guys. Posted is my current setup.

As you know, I have been trading around a year on a £10K account. At the end of the year, it was around, erm...... £10K.

OK, I did better than some who lose money, but it wasn't exactly profitable either.

BUT..................... Then came the last two weeks. I am currently standing at just over £12.5K, or 25% in 2 weeks.

PLEASE GIVE ME A REALITY CHECK HERE. You may think I am very naughty but I have become rather confident in the last few days. After getting around 18 winning...
Trend is your friend...
  • #213
  • Jun 4, 2009 10:10am Jun 4, 2009 10:10am
Thankyou Horrigan, all sorted. Thanks Tudorgirl for all your hard work. glad you having success. I will start playing asap and keep you posted
  • #214
  • Jun 4, 2009 10:11am Jun 4, 2009 10:11am
So, this great number of visitors results from no-so-often anyone posting a holy grail to public forum And we are grateful to you I try backtest it (if I have a time), but forward-test looks great! $$$$$$$$
Do you want an EA for your own profitable system? E-mail or PM me.
  • #215
  • Jun 4, 2009 10:12am Jun 4, 2009 10:12am
Quoting sirwolf
Anne, I am so glad you are doing so well.

Can I ask if you could explain in detail how you are scalping. What TF and exactly what you do. I think I know but I want to be sure before I give it a try. I am still playing the 1HR TF but I would liek to try your scalping method.

Thank you!
Perhaps this may be of some assistance.

If the indicator on the 1H TF is red it is in short mode for ALL lower TF's.
As such, if you wish to trade a 5M chart, simply trade the 5M swings in the direction of the dominant 1H trend. Classic trading with the trend methodology as you are aware of.

If I am incorrect here, please inform me of such and provide me with correct trade analysis to work with.

Regards.
  • #216
  • Jun 4, 2009 10:18am Jun 4, 2009 10:18am
Quoting Horrigan
So, this great number of visitors results from no-so-often anyone posting a holy grail to public forum And we are grateful to you I try backtest it (if I have a time), but forward-test looks great! $$$$$$$$
Until a solid TP/SL has been developed, backtesting will not be conducive to ascertaining viability of this methodology. Blue to Red color change is far too shallow to work with. Wait another week and then much more will be discovered that will allow you a more confident approach to the needed testing.

Regards.
  • #217
  • Jun 4, 2009 10:23am Jun 4, 2009 10:23am
TudorGirl can u post a template with HG MTF osc...i cann't see it into my indicator list even if i copied it into directoryexpertindicators

Tnx
  • #218
  • Jun 4, 2009 10:26am Jun 4, 2009 10:26am
Tudorgirl, Thank you so much for all of your hard work. I have a quick question/observation about the HG MTF. There are no yellow bars like the ones that show up on the standard version. NOT a crtisizm, just a question! Congratulations and thank you.
Pips are like cabbage, the green ones are the tastiest!
  • #219
  • Jun 4, 2009 10:37am Jun 4, 2009 10:37am
Quoting nisha4x
Anne

I can understand the excitement, i am too
But pls do not take the plunge to 1.0 lots so soon, you can stick with 0.1 till u double ur account and then go to 0.2 lots, this way if unforseen things happen, account can get low very fast, whereas wth 0.1 lot, you can afford to take the drawdown without a heart attack, been thru it so telling it. When you can get 200-300 pips with 0.1 lot, dont overisk

nisha
Again, this WILL evolve to a positive expectancy evaluation and if it does not pass that particular test the game is over.

As a visual, use your imagination and imagine the chart shown with the 'HGMTF' indicator instead of the "TRIX" indi shown.

As color changes from Blue to Red, and you have perhaps a MA to further guide you along, it is relatively simple to derive that the methodology may not have a high win/loss percentage (58.4%), however, it will have a solid PE (3.6) which simply states that your winning trades will garnish 3.6 times that of your losers.

This is a very simple example based on the mini DOW traded this a.m..

And you are quite correct to advise that Anne be patient a bit longer. Much, if not all of that gain was garnished on a TF (4H) move that is far too high a TF for the smaller trader just beginning to even contemplate trading with.

It is best to curb the excitement with perhaps cautious optimism and let the R&D of this indi and the thread itself move a bit further along.

Regards.
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  • #220
  • Jun 4, 2009 10:38am Jun 4, 2009 10:38am
Quoting cabbagepicker
Tudorgirl, Thank you so much for all of your hard work. I have a quick question/observation about the HG MTF. There are no yellow bars like the ones that show up on the standard version. NOT a crtisizm, just a question! Congratulations and thank you.
Read the thread above. TG wrote that no yelow bars in MTF indi because MQL support only 8 buffers of color. She choosen the 4 TF and 2 colours (8 buffers) versus 2 TF and 3 colours (6 buffers), where (and because) the yellow on the higher TF hasn't a reason.
Do you want an EA for your own profitable system? E-mail or PM me.
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