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EUR/GBP Trendmagic System

  • #781
  • Jun 8, 2009 9:58am Jun 8, 2009 9:58am
use build 224

Quoting Fxcash
If anyone could help, I would appreciate it. I have read through the entire thread, but have not been able to load the HG_0001a_MTF.ex4 successfully. It continues to crash the platform.
Is there any settings or updates i need to do? My Mt4 platform is updated to 220 Build.

I am using Interbankfx as my broker. Thank you for a reply.
Trend is your friend...
  • #782
  • Jun 8, 2009 9:58am Jun 8, 2009 9:58am
Quoting Dan S
Thank you Glen.
I was thinking to get on the long when it closed below TM and closing above again the next candle, a few candles before your signal. I missed it, but I entered that way on cable at 15924 which is showing a healthy +60 right now.
Great stuff!
" Never let the past hold the future to ransom "
  • #783
  • Edited 10:09am Jun 8, 2009 9:58am | Edited 10:09am
Quoting Gleneagles
Sorry about the lousy quality screenshot
Czech immigrants from Vietnam very like to say " What more stripes, the more Adidas " (In original Čím víc proužků, tím víc Adidas)
Do you want an EA for your own profitable system? E-mail or PM me.
  • #784
  • Jun 8, 2009 9:58am Jun 8, 2009 9:58am
I personally am following the 'beast' and 'bastard' while trading today as are many others. There are a couple of considerations I wish to set forth to the community here.

1. In their current versions, TM and TG indi's are well suited to higher volatility pairs on the 5m. I have wondered how, especially with these two pairs, traders mindsets differentiate various SL pain thresh holds.

a) On the 'beast', is a 30, 40, or 50 pip retrace very uncomfortable based on utilizing the TM and TG indi with its default settings. And the same with the 'bastard', albeit with a bit less PA of say 20 to 30 pips.

I ask this as many retail traders have vastly different amounts of trading capital with which to trade upon. Some are comfortable trading 'dimes' and progressing to 'dollars', some deal in standard lots and multiples of such.

So, I will focus on a minor alteration to the TM for the following reasoning.

Paul has set forth previous "horizontals" as a good trailing SL in a dominant move as shown in Anne's indi. As an intraday trader, I am personally quite comfortable taking several trades on a daily basis. Re-entry into dominant trend trades is of little concern as I incur only a 1 tic spread plus small commission when trading the mini Dow.

Obviously, the currency pairs are quite a bit more costly with the much larger spreads. Still, there are traders that, especially when trading the 5m charts, do not mind re-entry at times and instead actually prefer to trade oscillation type PA as it occurs.

That said, the attaches MT4 charts show both pairs with the TG indi at default and the TM indi modifies to a setting of 10/30 as opposed to its own default. In addition, have tries to concentrate this to potentially help isolate the difference in a normal PA retrace to that of an actual turn in direction. Please disregard the MA as it serves no purpose in the chart shots shown.

It seems that the modified TM setting serve well to 'WARN" of PA losing strength and then recolor to the dominant trend should PA resume such direction. Also, I simply like the look of the Heiken Ashi candle without wick as my own preference and nothing more.

In short, at least for those a bit squeemish about staying in trades that appear to be working contrary to the dominant trend, is it worthwhile to modify the TM indi to increase the sensitivity to allow one to re-enter occassionally, or is this simply a fault I have personally when looking at the pairs. ( I simply cannot give back 30-40 pips at a time).

Of even more concern to me is turning a winner into a loser should no real trend exist, like CONSOLIDATION!

Regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: beast.jpg Size: 64 KB
Click to Enlarge Name: bastard.jpg Size: 62 KB
  • #785
  • Jun 8, 2009 10:05am Jun 8, 2009 10:05am
Quoting Gleneagles
GBPJPY has hit the average trading range for the day.

The trade was worth about 40-50 pips depending on your fill.

I am in with 3 lots.

Closed 1 @ 35 and 1 @ 41

Will close the last one with TS 20

It has been a good day for trading, I am glad to see so many traders actively trading this system.

Some great trades, still reading the posts, well done guys.
Closed out manually for +51 pips (last lot)
" Never let the past hold the future to ransom "
  • #786
  • Jun 8, 2009 10:08am Jun 8, 2009 10:08am
Hello All.Here is an observation:why not wait for BREAK of the HIGH or LOW of the SIGNAL candle to get in after all of the colors match.See what happened with the EUR/USD at 1600GMT.If you would have waited for the next candle to BREAK the LOW of the signal candle at 1600 gmt,it would have kept you out because it went up for good 25 pips in the opposite direction.Please chime in on this observation.GOD BLESS....Shashi J
  • #787
  • Jun 8, 2009 10:08am Jun 8, 2009 10:08am
Quoting Gleneagles
Closed out manually for +51 pips (last lot)

Your pip shed must be full to bursting point!
  • #788
  • Jun 8, 2009 10:11am Jun 8, 2009 10:11am
So what are everyone's learnings today?

Mine are:

 

  1. Start trading at 060.00 GMT to catch the initial runs.
  2. If the HG indicator 5M reverses colour, get out of the trade, don't wait for it to hit stoploss.
  3. Don't keep the stoploss too tight to the price, use the previous horizontal TM line, not the one that might be currently forming.
  4. This method is showing some great potential.

Full-time trader and loving it!
  • #789
  • Jun 8, 2009 10:12am Jun 8, 2009 10:12am
Quoting smpprj
Hello All.Here is an observation:why not wait for BREAK of the HIGH or LOW of the SIGNAL candle to get in after all of the colors match.See what happened with the EUR/USD at 1600GMT.If you would have waited for the next candle to BREAK the LOW of the signal candle at 1600 gmt,it would have kept you out because it went up for good 25 pips in the opposite direction.Please chime in on this observation.GOD BLESS....Shashi J
This is extra mental overhead as far as I'm concerned. I really don't mind taking a loss of between 5-15 pips. As long as I get in on the nice juicy trends when they appear. More mental overhead = more second guessing. I will allow the probabilities to fill my account....yada yada yada
  • #790
  • Jun 8, 2009 10:13am Jun 8, 2009 10:13am
Anne,

I took note of how much you appreciated the last one!

Stand up and take credit for the good work.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Jun. 08 17.06.gif Size: 17 KB
" Never let the past hold the future to ransom "
  • #791
  • Jun 8, 2009 10:13am Jun 8, 2009 10:13am
Quoting Digitalis
So what are everyone's learnings today?

Mine are:

 

  1. Start trading at 060.00 GMT to catch the initial runs.
  2. If the HG indicator 5M reverses colour, get out of the trade, don't wait for it to hit stoploss.
  3. Don't keep the stoploss too tight to the price, use the previous horizontal line, not the one that might be currently forming.
  4. This method is showing some great potential.

I totally agree although I will allow the price to close uabove/below the TM. It's just easier for my simple mind.
  • #792
  • Jun 8, 2009 10:16am Jun 8, 2009 10:16am
Quoting TudorGirl
All you TradeStation, NeuroShell, etc guys out there....

Don't worry! I know EasyLanguage etc. Recap of post #476.

The next generation of indy's has

- full sensitivity control for accurate matching to any timeframe, (esp. low lag on longer H1+ TF for swing traders to catch the monster moves!)
- audio alerts,
- email alerts,
- SMS text alerts and parsed response
- DLL/API interface to TradeStation, NinjaTrader and NeuroShell Trader,
- full EA integration for automated trading
[b]-...
Yep. Will wait with the patience of an oyster. Just throwing some observations and ideas out here and there as food for thought.

TM and TG indi's are fine as they are. There may be some psyche issues as traders wager more capital to trades in the future, but that is nothing more than a traders evolutionary process.

Trading should be boring but you have to love it also.

Regards.
  • #793
  • Jun 8, 2009 10:18am Jun 8, 2009 10:18am
Notch, are you using a different setup than Paulus? If I remember, Paulus is on an M5 chart, with settings 5/15/30.
  • #794
  • Jun 8, 2009 10:19am Jun 8, 2009 10:19am
Quoting BenQ
Notch, are you using a different setup than Paulus? If I remember, Paulus is on an M5 chart, with settings 5/15/30.
I'm using the same setup but also doing a little scalping using the GlenEagle setup listed a few pages back.
  • #795
  • Jun 8, 2009 10:19am Jun 8, 2009 10:19am
The BREAK of the HI or Lo is more of a confirmation if it is going to be a strong move right away after a signal is given.Just to make sure.GOD BLESS
  • #796
  • Jun 8, 2009 10:20am Jun 8, 2009 10:20am
Quoting Edgetrader

Trading should be boring but you have to love it also.

Regards.

Nice!
  • #797
  • Jun 8, 2009 10:22am Jun 8, 2009 10:22am
We absolutely need extern settings TG, please.

I'm sure we can tweak this monster.

Furthermore, the original settings are not adapted for GY.

Please
  • #798
  • Jun 8, 2009 10:23am Jun 8, 2009 10:23am
Quoting smpprj
The BREAK of the HI or Lo is more of a confirmation if it is going to be a strong move right away after a signal is given.Just to make sure.GOD BLESS

I agree but the noise of a Flea jumping can distract me. I have to limit mental overhead otherwise it impacts my performance.
  • #799
  • Jun 8, 2009 10:37am Jun 8, 2009 10:37am
Quoting crashout
We absolutely need extern settings TG, please.

I'm sure we can tweak this monster.

Furthermore, the original settings are not adapted for GY.

Please

Can you say a little more about this because I don't understand. The level of generalisation displayed by this system means that it can be applied to multiple instruments across various markets. I thought that was at the heart of an ideal system.
  • #800
  • Jun 8, 2009 10:45am Jun 8, 2009 10:45am
GBPJPY?

Have over 100 pips today on this per lot, and this is conservative. Should have been over 150, but testing the water.

Am I missing something?

Quoting crashout
We absolutely need extern settings TG, please.

I'm sure we can tweak this monster.

Furthermore, the original settings are not adapted for GY.

Please
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