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EUR/GBP Trendmagic System

  • #1,661
  • Jun 12, 2009 5:01am Jun 12, 2009 5:01am
Quoting Paulus
this is a sad day for me

All I have ever done is try to help every one at FF and why ? because I in return get help

If I put a stochastic on my chart and i get the same entry as another indicator gives so what....

This thread was about constructing a system based around TG indicators.I can tell you guys now if she was out in the commercial world she would be charging $200 an hour esp with her CV and proven track record.

bank institutional traders hedge fund managers would be out bidding each other to get her on their team

Do you realise the...
Paulus,
My first post after reading through entire thtread.I have retrieved an enormous amount of forex knowledge from your posts,and this last one of yours puts eveything into perspective.

I can only thank you and TG for this wonderfull system you have put together,simple but, very ,very effective.

Hope you will continue the good work,Regardless of the snipes!

Good luck in all you ever do.
Regard's,
Allen
  • #1,662
  • Jun 12, 2009 5:04am Jun 12, 2009 5:04am
Quoting TudorGirl
I am only checking the thread occasionally now so this post is a little longer than usual.

...That is, there are no DEGRESS OF FREEDOM (DoF) in the indys.

The rules and their associated DoF are:

(i) Asian / Not Asian (1 DoF)

(ii) (M5 + M15 agree) OR (M5 + M30 agree) OR (M5 + M15 + M30) agree (3 DoF)

(iii) They must agree in the RIGHT ORDER (3 DoF, I think, but it may be 6)

(iv) Price above/below TM (1 DoF)

We therefore have 8 DoF for the system. ...

Anne
Some experienced traders say that closing the trade is most important and hard to do right. Could Take Profit strategy provide another degree of freedom. ie 1/2 lot at 20 pip, 1/2 to run etc?
BTW Thanks for your setting up a focused target for the thread
D
  • #1,663
  • Jun 12, 2009 5:06am Jun 12, 2009 5:06am
Quoting notch
I was stopped out on the GU short @ 1.6528. This was my entry point and breakeven. However, the TM line was at 1.1618 so technically I could have made 10 pips but I believe that Paulus prefer to leave his SL just above the TM line.

The trade was from the 5m text-book setup.

I can't state that I feel great about being stopped out after being well in profit or to see the price continue down even further but I can write that I followed the system to the letter.

This experience will be repeated many times more in the future because that is the...
I don't know why you were stopped out

Our entry was on the vertical yellow line on my chart and stops should have been moved in stages at the green dotted lines on my chart , the current stop being at 1.6474
Attached Image (click to enlarge)
Click to Enlarge Name: gu tm.gif Size: 22 KB
Regards
  • #1,664
  • Jun 12, 2009 5:09am Jun 12, 2009 5:09am
Quoting Rastaman
Just start another thread and make SURE everyone knows emphatically that no indicators are to be added or changed and that the thread is for the sole purpose of trading this system as it is.

It is not nice to jump down someones throat when they honestly did not know what the criteria is after reading the first few pages.
Hi Paulus, why don't you just go to the first post and update it with strict rules for posting

Good luck
D
  • #1,665
  • Jun 12, 2009 5:11am Jun 12, 2009 5:11am
Quoting Divyendu
Some experienced traders say that closing the trade is most important and hard to do right. Could Take Profit strategy provide another degree of freedom. ie 1/2 lot at 20 pip, 1/2 to run etc?
BTW Thanks for your setting up a focused target for the thread
D
Hi Divyendu

Thanks for your insight here! You are absolutely correct in this. I had omitted the exit alternatives. This is a very important (perhaps THE most important) part of the strategy.

If we have more DoF we will need more trades for the result to be statistically significant.

Thanks for your serious contributions.

Anne
  • #1,666
  • Jun 12, 2009 5:12am Jun 12, 2009 5:12am
Quoting stevewide
Folks:

Please listen to Paulus and TudorGirl. Stop wandering around in the wilderness. Do you see the same scene repeated over and over again?

First, Very rarely a brilliant method is presented

Second, a few professional traders post its value breathing credibility to the brilliant method

Third, traders having nothing brilliant(certainly not new or unique) to offer...post common ideas you see on every thread diluting the brilliant method.

Fourth, the professional traders leave

Fifth, the brilliant method...
Steve,

excellent perspective - I am very new to forex trading, but I have done a great deal of research to find a thread like this and have been following it since it started.

I have only gone live with this system today and have won 7 of 8 trades, following the system, rules and guidance set out by traders like yourself.

hopefully this thread will continue, it has provided me with a great way to start a trading career.

cheers

Nick
  • #1,667
  • Jun 12, 2009 5:17am Jun 12, 2009 5:17am
Quoting stevewide
Folks:

Please listen to Paulus and TudorGirl. Stop wandering around in the wilderness. Do you see the same scene repeated over and over again?

First, Very rarely a brilliant method is presented

Second, a few professional traders post its value breathing credibility to the brilliant method

Third, traders having nothing brilliant(certainly not new or unique) to offer...post common ideas you see on every thread diluting the brilliant method.

Fourth, the professional traders leave

Fifth, the brilliant method...
exactly what happened 2 the dibs thread by peter crown. sigh...
  • #1,668
  • Jun 12, 2009 5:21am Jun 12, 2009 5:21am
Quoting pipcruiser
Hey,

let's get this thread back on focusing on the SIMPLE SYSTEM provided by Paulus and TudorGirl. Please don't make it more complicated than it is with all kinds of useless indicators.

Here is my trades for today, 4 wins, 1 loss, total 55 pips. My daily goal of 50 in the bank. KISS.

I use 5 and 30 min. confirmation.

Have a nice weekend all.

PC
Can u post your template chart? Tnx
  • #1,669
  • Jun 12, 2009 5:23am Jun 12, 2009 5:23am
I am currently playing with entering as the rules state but exiting when the velocity bar changes colour. for re-entry i will re enter if the velocty bar changes back to previous colour and 5, 15 and 30 are still in the same colour and price is the side of the tm that i want. if this criteria not met then i sit on my hands untill original set up appears again. I now only look at one 5min chart of eur/gbp to save my sanity!! lol.
  • #1,670
  • Jun 12, 2009 5:26am Jun 12, 2009 5:26am
mistake; took Gj short as soon as turned on charts today about an hour ago. i had 30 pips; closed with 4 just now. On another set of charts I see it went down to the daily pivot. I got stopped out at TM according to Paulus rules.

Anywho, I have a tiny winner to start my day.

Steve
  • #1,671
  • Jun 12, 2009 5:27am Jun 12, 2009 5:27am
Quoting stevegee58
I probably shouldn't be trading at all in the US east coast afternoon anyway.
Got stopped out of the EURGBP short.
stevegee58,
hmmm, I'm thinking 2-4 AM TF, what TF do you think is best for East coast?
  • #1,672
  • Jun 12, 2009 5:28am Jun 12, 2009 5:28am
Quoting notch
That is how I was following the price action initially (beginning of the week) but I had thought that I had misinterpreted Paulus rules. But anyway, it turns out you are right. I actually took myself out of the trade unnecessarily as I was using the wrong horizontal line as the stop line.

Did you manually draw the dotted lines on your chart or is it done automatically somehow?
All manually
Regards
  • #1,673
  • Jun 12, 2009 5:29am Jun 12, 2009 5:29am
Quoting TudorGirl
Hi Divyendu

...

Thanks for your serious contributions.

Anne
Hi Anne
Surely an EA programmed not for profit but for research, with the DoFs included as external options, is the most efficient way to rigorously test Paulus' system?
Live traders, especially novice ones, react on fear and greed etc, and are likely to miss many many textbook signals.
Just my two pennies
D
  • #1,674
  • Jun 12, 2009 5:32am Jun 12, 2009 5:32am
Jaks. I am doing roughly the same. Except I have 1m, 5m, 15m and 30m on my HG001a. If 1m on this turns against me I watch it. If vorticity bar turns I immediately close the trade. Re-entry when m1,m5 and m15 or m30 go back to colour I want and vorticity bar goes back to colour I want (assuming TM is still the colour I want).
  • #1,675
  • Jun 12, 2009 5:33am Jun 12, 2009 5:33am
To add to Howards chart, here is my take on this mornings g/u PA. Please ignore the sopeline indy

Being new to this game I missed the trade as my trigger finger is not mechanical yet

Nick
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #1,676
  • Jun 12, 2009 5:41am Jun 12, 2009 5:41am
Quoting gillybabe
Jaks. I am doing roughly the same. Except I have 1m, 5m, 15m and 30m on my HG001a. If 1m on this turns against me I watch it. If vorticity bar turns I immediately close the trade. Re-entry when m1,m5 and m15 or m30 go back to colour I want and vorticity bar goes back to colour I want (assuming TM is still the colour I want).
Hi Gillybabe, hope this method working well for you. i think i might put the 1 min on my chart too as sounds sensible. At the moment my eur/gbp chart velocity bar is red but 5,15 and 30 still blue. if price shoots back up above tm and velocity bar returns to blue then game on!
  • #1,677
  • Jun 12, 2009 5:44am Jun 12, 2009 5:44am
Also did anyone notice the USD/CAD this morning? good for 100pips also. But yes you guessed it I missed this one also

Great system, again my thanks to P and TG

I hope I am getting the rules correct.

Nick
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 20 KB
  • #1,678
  • Jun 12, 2009 5:47am Jun 12, 2009 5:47am
Quoting Nick'em
To add to Howards chart, here is my take on this mornings g/u PA. Please ignore the sopeline indy

Being new to this game I missed the trade as my trigger finger is not mechanical yet

Nick
Isn't that just a perfect example of this method?
Couldn't ask for a better trade.

The points mentioned previously about TP are very valid, because at the moment we are reliant on a "negative" event, our stoploss being hit, as the rule. Would be good to come up with a TP at some point, I liked gillybabe's thoughts about relating them to the expected movement of the specific pairs.

Notch is being very disciplined in his use of the ignore option, 1 strike and out. Think I'll go for 2 strikes and out.

And the suggestion of starting a totally new thread, where only results are posted (and maybe entries/exits?) and this one left for discussion isn't a bad idea - would certainly help in the collation and analysis. You could then let this one degenerate gracefully with 15000 indicators being added to the charts while the other could be heavily moderated (I'd volunteer!) to keep it clean.

Back out again now, I'm really missing trading this system today!
Full-time trader and loving it!
  • #1,679
  • Jun 12, 2009 5:50am Jun 12, 2009 5:50am
Quoting Nick'em
Also did anyone notice the USD/CAD this morning? good for 100pips also. But yes you guessed it I missed this one also

Great system, again my thanks to P and TG

I hope I am getting the rules correct.

Nick
Fab wasn't it. Still in it!
  • #1,680
  • Jun 12, 2009 5:55am Jun 12, 2009 5:55am
Quoting ttradr
stevegee58,
hmmm, I'm thinking 2-4 AM TF, what TF do you think is best for East coast?
Assuming I don't change my sleep schedule and get up at 0600 eastern US time, the best forex trading is until around lunch 1200. The frustrating thing is looking at the chart and seeing all that volatility I missed out on in the Euro session while I was asleep!

Volatility starts to kick back in at the Tokyo open at around 2000. The Sydney open is 1700 here, but doesn't seem to really increase volatility for me.
You are in a maze of twisty little passages, all alike.
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