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EUR/GBP Trendmagic System

  • #1,541
  • Jun 11, 2009 9:34am Jun 11, 2009 9:34am
Hey paulus.

The Fibo extension seems to define the break quite well.
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Starting to see instead of just looking.
  • #1,542
  • Jun 11, 2009 9:37am Jun 11, 2009 9:37am
Quoting Digitalis
That's a sweeping statement!
Got some comparison data to back it up or is that just a subjective opinion?

If I was Paulus or TG and read that, I'd be tempted to bugger off too!

I'm trading the method shown in post #414, seems to be working fine, certainly doesn't suck so far.

My bad...I actually thought that #414 and the page 1 rules were the same. Yes I have read the entire thread but maybe it's time to revisit a few pages.
  • #1,543
  • Jun 11, 2009 9:39am Jun 11, 2009 9:39am
Guys, let's slow down for a little.... Are we not satisfied (as we I say ALL of us, a bunch of "mea culpa" we would say...) by pushing away Paulus and TG?

Everybody wants to succeed. Period

BUT, we must only trade what we are comfortable with. If Paulus masters the 5M and I don't, it's useless try to force my nature. I'm more comfortable with > 30M TF, that's my option. And I see the value of Paulus and TG method. So I'm trying to implement it o MY trading style. But I'll not bring this approach to this thread, which is focused on 5M.... some coments (as I did regarding to MAD's good point on 1H) is all I'll do, cause it's bad for all to deviate the thread.

Second, just as an addition, for a system to work it must be somehow reliable on other TFs... So it's natural that all we try it on our "home" TF (1H in my case).... but let's try not to bring it too much to the thread...

Finally, and I'm not directioning it to anyone specifically, we must remember rule #1 of FF : Respect the felow trader.... so we keep a healthy environment around... everybody wins...

Good tradinng to all

Cheers!
Many share my views with me. But I don't share them with them...
  • #1,544
  • Jun 11, 2009 9:46am Jun 11, 2009 9:46am
Paulus,

How the hell you loose today in GY ? Nevertheless, your day is positive which is a good thing

Look at all this blue (achieve a net 85 pips one shot)
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  • #1,545
  • Jun 11, 2009 9:51am Jun 11, 2009 9:51am
Quoting crashout
Paulus,

How the hell you loose today in GY ?

Look at all this blue (achieve a net 85 pips one shot)

He didn't lose. He had 2 losing trades in the morning session and is benefiting from current trend. He has a open net profit of about 56 pips. Don't focus on individual trades focus on the basket of trades and the probabilites.
  • #1,546
  • Jun 11, 2009 10:01am Jun 11, 2009 10:01am
Quoting Paulus
Iv have a good hard look at the posts ....you cant all be making pips in real time in hind sight trading maybe..flipping through swaps and time frames until you see a great signal and then posting it as a live or demo trade.

I know this sounds cynical but come on this is a mechanical system your only ever going to get on the very best a max of 60-70 strike rate,would be nice to see some losers..we can learn as much from losers as we can from winners.
Happy to oblige, as I did yesterday!
First trade of the day was cable, long @ 16415.5.
SL at 16387, level with an earlier TM flat to give it some room. Stopped out for 28 pip loss.

Because cable was choppy early, decided to try scaping 1 min and recovered 14 pips from 2 quick trades.

Then took 30 pips from a cable long and 10 pips from audusd. Had to close that one early as had to go afk, but at time of writing, following stop loss rule 13 pips would be locked in as profit with hopefully more to follow.

So 26 pips for the day. A lot less than last couple of days, but certainly enough to live on! I'm trading these live, btw.
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Full-time trader and loving it!
  • #1,547
  • Jun 11, 2009 10:08am Jun 11, 2009 10:08am
Thanks Diditails

We need solid posts regarding wins losses,from what Ive read MT cannot back test a multy time frame set up so its down to forward testing

Or...... untill things have been coded to work on Trade Station for example which Ive used and is about the best there is..

If you do enough round trips its free btw !


I was stopped out my long for 79 pips so up around 36 which I'm cool about

Im still looking to take signals

Paulus
  • #1,548
  • Jun 11, 2009 10:08am Jun 11, 2009 10:08am
Quoting metatsock
EdgeTrader i see that u use Renko chart...can i ask u how many pips are your blocks??? 10 pips???
5 tic blocks
  • #1,549
  • Jun 11, 2009 10:11am Jun 11, 2009 10:11am
Quoting Edgetrader
5 tic blocks
Tnf for reply! Very short....i will try!
  • #1,550
  • Jun 11, 2009 10:15am Jun 11, 2009 10:15am
GU - In at 16445. Still In showing nearly 100 pips. Expect it to finally hit 16600 today (I hope)

Edit: 5m tf
  • #1,551
  • Jun 11, 2009 10:18am Jun 11, 2009 10:18am
Quoting gillybabe
GU - In at 16445. Still In showing nearly 100 pips. Expect it to finally hit 16600 today (I hope)
And you seemed so fed up this morning! Nice.

I forgot to mention, my +30 pip trade should have been 40 but although I clicked sell to close it, it appears my link to IG Index had frozen and it didn't happen. I'm just glad I spotted it and got out in time to still make some pips.
Full-time trader and loving it!
  • #1,552
  • Jun 11, 2009 10:20am Jun 11, 2009 10:20am
Eur/Gbp is one of those pairs that trends very well making it, not hard at all to profit from it. Those who are losing money, you must be trading against the trend, and at the moment, the trend is Down. I've been trading E/G on the Hour chart and have not closed out my positions. Nothing but profitablility.
  • #1,553
  • Jun 11, 2009 10:23am Jun 11, 2009 10:23am
Quoting Digitalis
And you seemed so fed up this morning! Nice.

I forgot to mention, my +30 pip trade should have been 40 but although I clicked sell to close it, it appears my link to IG Index had frozen and it didn't happen. I'm just glad I spotted it and got out in time to still make some pips.
Yes I was. I have still had other losses this pm. But this one I have been in all afterrnoon and it is coming good - oh trading! I love it most of the time - actually it is more of an addiction, but sometimes I wonder if there is another easier way to make a few bucks.
  • #1,554
  • Jun 11, 2009 10:24am Jun 11, 2009 10:24am
Quoting Paulus

Or...... untill things have been coded to work on Trade Station for example which Ive used and is about the best there is..


Paulus
Completely agree! Was using it a few years ago when I was day-trading the Nasdaq (I was younger then!)

Wrote some great scanners using Radar and Easy Language which is......well.....ermmmm...... easy!
Seriously considering opening an account just to get it again, but would have to pay the monthly sub as I wouldn't place trades with them - spreadbetting saves far too much on income tax.
Full-time trader and loving it!
  • #1,555
  • Jun 11, 2009 10:26am Jun 11, 2009 10:26am
Digitalis

IG quote 1pip spread at time on EURUSD have you ever got this

I used to use Finspreads but got fed up with the re quoting..how is IG ?

How are there spread in comparison

One thing about the Tax because I have come across this..

If you earn more from trading than your day job then you will be asked to pay tax on it even though you are going through a spread betting company

If your full time and trade through a SB company and its your only source of income you need to pay tax on it

have you found this..any accountants out there
Paulus
  • #1,556
  • Jun 11, 2009 10:31am Jun 11, 2009 10:31am
Quoting Paulus
Digitalis

IG quote 1pip spread at time on EURUSD have you ever got this

I used to use Finspreads but got fed up with the re quoting..how is IG ?

How are there spread in comparison

Paulus
I opened an account with Finspreads but got so much feedback from others I decided not to go with it so can't really comment on them.

I know IG advertise 1 pip spread but generally I get 2 pips on eurusd with IG. It does fluctuate a bit but certainly I have never seen a consistent 1 pip spread. So far they've been ok, although I do hear the usual horror stories about constant winners having screens frozen, prices "adjusting" to take out stops etc. Just haven't experienced it myself, maybe I'm not winning enough Good broker platform, esp. like the "Tear-off tickets" that let you have the ticket open without needing to be on the web page, so you can put it over your chart and get in/out quickly.
Full-time trader and loving it!
  • #1,557
  • Jun 11, 2009 10:31am Jun 11, 2009 10:31am
Quoting Paulus
Thanks Diditails

We need solid posts regarding wins losses,from what Ive read MT cannot back test a multy time frame set up so its down to forward testing

Or...... untill things have been coded to work on Trade Station for example which Ive used and is about the best there is..

If you do enough round trips its free btw !


I was stopped out my long for 79 pips so up around 36 which I'm cool about

Im still looking to take signals

Paulus
I believe I read earlier thet Anne had a gal in Norwich that was doing some work on a TradeStation platform.

If correct, I think that if Anne will be able to give us (me) the indi code for the TM and TG, I can run the performance test for multiple setups in about one (1) hour. Would have optimized PE, TP, SL and TSL all complete. I already know Renko block charts will provide better results than any other format, just have to set the appropriate block size.

If you can make this thing work on the MT4 then TS is a slam dunk imho.

Just hanging around and waiting.
  • #1,558
  • Edited 10:49am Jun 11, 2009 10:31am | Edited 10:49am
Quoting Paulus
Thanks Diditails

We need solid posts regarding wins losses,from what Ive read MT cannot back test a multy time frame set up so its down to forward testing

Or...... untill things have been coded to work on Trade Station for example which Ive used and is about the best there is..

If you do enough round trips its free btw !


I was stopped out my long for 79 pips so up around 36 which I'm cool about

Im still looking to take signals

Paulus
I must apologise since I am trading live (very small positions) just to get a feel for it and to test various system configs. I have also been trading my staple system which will be replaced by TM. Now that I have decided on the trading plan - which is basically the exact rules that you have specified I will be in a position to start collating data to post from next Monday.

I forgot to mention that I will only be trading one pair - GU. If I trade more than that I tend to find myself looking for relationships between charts which is more overhead.
  • #1,559
  • Jun 11, 2009 10:39am Jun 11, 2009 10:39am
I've also been trying different methods and pairs. Currently trading off the 5 minute charts, but this involves too much screen time, and considering switching to 30 or one hour, or reducing the number of pairs I'm trading. When I decide on the time frame and pairs, will post results with charts.
  • #1,560
  • Jun 11, 2009 10:40am Jun 11, 2009 10:40am
Quoting Paulus
Digitalis

IG quote 1pip spread at time on EURUSD have you ever got this

I used to use Finspreads but got fed up with the re quoting..how is IG ?

How are there spread in comparison

One thing about the Tax because I have come across this..

If you earn more from trading than your day job then you will be asked to pay tax on it even though you are going through a spread betting company

If your full time and trade through a SB company and its your only source of income you need to pay tax on it

have you found this..any accountants out...
This may help Paulus:

http://www.financial-spread-betting.com/Tax-free.html

http://www.forexfactory.com/showthread.php?t=161108

I predominantly use Capital Spreads, their platform is responsive and rarely is a trade price missed. Their spread is usually 3 on EURUSD and 4 on GBPUSD

Andy
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