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EUR/GBP Trendmagic System

  • #1,121
  • Jun 9, 2009 1:09pm Jun 9, 2009 1:09pm
I'm gonna send you a PM so I can ask you a few more questions without clogging the thread.

Quoting golden1
I trade several pairs and use this strategy now..added to my main setup
but just looking at this system alone its true.. there have been
many more signals then I could possibly take in the last 24 hours..
last 12 hours for that matter. I prefer the double setup for myself for
some reason the mtf 5 min can say yes but the single tf hg says no.

Those trades have at least been more wiggle than I would want
.. it works for nicely for me

Brian
  • #1,122
  • Jun 9, 2009 1:11pm Jun 9, 2009 1:11pm
Fyi eur/jpy h1 setup for an up move. Keep your eyes on the prize.
  • #1,123
  • Jun 9, 2009 1:23pm Jun 9, 2009 1:23pm
Hi,
Is there anybody out there who has actually traded this system exactly as Paulus specified a few posts back? As soon as my daily pip target has been hit I bale (but I do not have any other indicators on my chart) so I just wonder what sort of performance has been achieved trading by the book.
  • #1,124
  • Jun 9, 2009 1:35pm Jun 9, 2009 1:35pm
Quote
I think it was Steve who persuaded me to write a MTF version of the indie.

He wanted to watch about 10 pairs on 3 tfs and needed 30 charts open at once. Each was about the size of a postage stamp and was driving him crazy!

But if you only watch 1 or 2 pairs, go with the STF indy and avoid the whole "is my indy repainting" aggro...

Anne

Guilty(and thank you)...it was me...had 8 pairs on 3 time frames going on 2 platforms; Now I am down to 3 pairs and 1 chart for each using Paulus's suggestion. It works.

Steve
  • #1,125
  • Jun 9, 2009 1:48pm Jun 9, 2009 1:48pm
Quoting Siuol
I'm gonna send you a PM so I can ask you a few more questions without clogging the thread.
Here is pretty much the setup Brian is talking about, bare bones for the 1m.
Notice the sweet recent move on the Euro!

regards
Attached File(s)
File Type: tpl goldsurfer_1m.tpl   9 KB | 541 downloads
  • #1,126
  • Jun 9, 2009 1:49pm Jun 9, 2009 1:49pm
Quoting notch
Hi,
Is there anybody out there who has actually traded this system exactly as Paulus specified a few posts back? As soon as my daily pip target has been hit I bale (but I do not have any other indicators on my chart) so I just wonder what sort of performance has been achieved trading by the book.
Yes, I did faithfully today but can't really say a day is a valid sample!

GBPJPY -40. Looking back this might have been due to a c*ckup by me, unless there has been a repaint I haven't noticed.

GBPUSD +53.
GBPJPY + 46.
EURUSD + 11.

Net gain 70 pips.

As mentioned before, the 2 positive B&B trades were up over 200 points at one stage, but I kept going until it hit the TM line stop. I am considering waiting for a close across the stoploss line as a way of staying in the trade longer, I've noticed in some cases the shadows cross (and therefore I would be stopped out) but trade carries on in same direction.

Still a pretty good way to earn pips as it stands though, so far, mustn't get greedy. Will monitor that as an option without falling into the trap of trying to maximise everything - hey ho here come all the extra indicators again!
Full-time trader and loving it!
  • #1,127
  • Jun 9, 2009 1:49pm Jun 9, 2009 1:49pm
Quoting stevewide
Guilty(and thank you)...it was me...had 8 pairs on 3 time frames going on 2 platforms; Now I am down to 3 pairs and 1 chart for each using Paulus's suggestion. It works.

Steve
Eur, Eur/Yen, and Cable? Or are you teasing the Beast?

regards
  • #1,128
  • Edited 2:15pm Jun 9, 2009 2:02pm | Edited 2:15pm
Quoting Digitalis
Yes, I did faithfully today but can't really say a day is a valid sample!

GBPJPY -40. Looking back this might have been due to a c*ckup by me, unless there has been a repaint I haven't noticed.

GBPUSD +53.
GBPJPY + 46.
EURUSD + 11.

Net gain 70 pips.

As mentioned before, the 2 positive B&B trades were up over 200 points at one stage, but I kept going until it hit the TM line stop. I am considering waiting for a close across the stoploss line as a way of staying in the trade longer, I've noticed in some cases the shadows cross (and therefore...

It's GREAT performance but there is one thing; I was under the impression that one is supposed to hold the position until the stop line is hit - stop line is not the immediately preceding TM horizontal line but the one before that - or the price closes above/below the immediately preceding TM horizontal line. If I'm correct the last large GBPUSD trend (started at 13:00 BST) would have bagged approx' 150 pips. I hope this makes sense.

EDIT: I have screwed the stop rules up. I misunderstood Paulus's email now I need to decide whether I will stop my approach because it seems to work for me.
  • #1,129
  • Jun 9, 2009 2:16pm Jun 9, 2009 2:16pm
havnt read all the post yet..so plse excuse me if I have missed some thing

Im into my 3rd signal so far I have had

-35 +56 and long from 158.58 SL set at 158.66

other systems going well for me today...

This is a no thinking colour box matching pip gaining slinky dinky easy peasy lemon squeezy trading system... keep it simple

P
  • #1,130
  • Jun 9, 2009 2:17pm Jun 9, 2009 2:17pm
Quoting notch
It's GREAT performance but there is one thing; I was under the impression that one is supposed to hold the position until the stop line is hit - stop line is not the immediately preceding TM horizontal line but the one before that - or the price closes above/below the immediately preceding TM horizontal line. If I'm correct the last large GBPUSD trend (started at 13:00 BST) would have bagged approx' 150 pips. I hope this makes sense.

Am I misinterpreting the rules?
No that's right (almost). I didn't take that last big trade, I was off to Tesco's.

In response to my question (here) Paulus said (here) that once the current TM goes horizontal, he moves his SL there, that's what I've been doing.

This chart example is quite handy too.
Full-time trader and loving it!
  • #1,131
  • Jun 9, 2009 2:21pm Jun 9, 2009 2:21pm
Another successful US session with this method. Up 52 on gbp/usd and 36 eur/usd. My main issue is knowing when to exit. I am not complaining about 88 pips. The beast seems like it can not be tamed on the 5 minute charts. You guys and girls have balls of steel trading that pair, I can not handle the stress of it. Tomorrow I am going to try closing 80% of my early positions and just let them ride until the cows come home.....
  • #1,132
  • Jun 9, 2009 2:23pm Jun 9, 2009 2:23pm
Nothing

Were not interested ........................no signal no comment....................... its a signal click the mouse



P

Quoting TudorGirl
Hi All

GJ (M5) is stuck in a really well defined channel. TM is dead flat and alternating red/blue.

What does this mean (if anything) for future price action?

Anne
  • #1,133
  • Jun 9, 2009 2:29pm Jun 9, 2009 2:29pm
Quote
Originally Posted by stevewide http://www.forexfactory.com/images/buttons/viewpost.gif
Guilty(and thank you)...it was me...had 8 pairs on 3 time frames going on 2 platforms; Now I am down to 3 pairs and 1 chart for each using Paulus's suggestion. It works.

Steve

Eur, Eur/Yen, and Cable? Or are you teasing the Beast?

E/G, G/J (beast) and Gu(bastard according to latest NASA scientific language); substiture Eu or Uj if a pair is consolidating.

Steve
  • #1,134
  • Jun 9, 2009 2:33pm Jun 9, 2009 2:33pm
Quoting Digitalis
No that's right (almost). I didn't take that last big trade, I was off to Tesco's.

In response to my question (here) Paulus said (here) that once the current TM goes horizontal, he moves his SL there, that's what I've been doing.

This chart example is quite handy too.

I was wrong. I have been placing my stop-losses at the second nearest horizontal line. However, I have manually closed trades if the price closes beneath (for a long) the nearest horizontal line. So I have been trading incorrectly but it has been very profitable as it has protected me from small spikes.
  • #1,135
  • Jun 9, 2009 2:47pm Jun 9, 2009 2:47pm
If it's been profitable for you, I suggest you keep doing exactly what you have been.

Quoting notch
I was wrong. I have been placing my stop-losses at the second nearest horizontal line. However, I have manually closed trades if the price closes beneath (for a long) the nearest horizontal line. So I have been trading incorrectly but it has been very profitable as it has protected me from small spikes.
  • #1,136
  • Jun 9, 2009 2:54pm Jun 9, 2009 2:54pm
Hi, please kindly post the indys of your chart setup.
Quoting Finsbury
GBP/USD....H1

Attachment
  • #1,137
  • Jun 9, 2009 3:24pm Jun 9, 2009 3:24pm
Quoting gillybabe
Have you got any preset ideas of TP on the various pairs? Iknow we leave it till the colour changes, but I would like to be able to set it up and leave it alone to do its thing and go out or whatever. If it goes past my tp fine. Have you got any ideas with your years of being a full time trader? Thxs
Have you thought of using "Manage Take Profit" (MTP_1.7.mq4) to .. erm, manage take profit?
It is an expert advisor that doesn't take trades, it just manages the ones you take. You can set it to TP any size slice of your position at several different points. For example 0.1 at 20pip, 30pip, 50pip... It also moves your stop up if you so prefer. Check it out
Attached File(s)
File Type: mq4 MTP_1.7.mq4   11 KB | 730 downloads
  • #1,138
  • Jun 9, 2009 3:28pm Jun 9, 2009 3:28pm
no stop move yet..bit of a conso going on but TM dealing with it

P
  • #1,139
  • Jun 9, 2009 3:50pm Jun 9, 2009 3:50pm
kudos to paulis and tg! brought some pips home since i started using it what a sweet set up. I've got all pairs on 4hr time frame to catch big runners and gu, gj, eu, ej on 5 min and have scalped some good pips on these.

TG- thanks for your work, curious if the email alert indi's are close to being done? right now i'm using the QQE indi to send me email alerts to my phone as it crosses 50 and its getting me in the timeframe of the colors changing on trend magic ect

Regards and happy pipping!


Lucky
  • #1,140
  • Jun 9, 2009 3:58pm Jun 9, 2009 3:58pm
I was looking at the HGMTF indi on today's eurusd and for some strange reason it reminded me of the original space invader games. (I know I don't look that old but I am ) Bottom picture.

It signalled a strong move up (Top picture). Then I started wondering if we'll actually see some standard patterns start to develop on the indicator, over time, and might be able to trade them as well! Time will tell so look out for this and others... In the meantime repeat after me, "dum da, dum da, dum da".
Attached Image (click to enlarge)
Click to Enlarge Name: spaceinvader2.png Size: 6 KB
Attached Image
Full-time trader and loving it!
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