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EUR/GBP Trendmagic System

  • #1,681
  • Jun 12, 2009 6:07am Jun 12, 2009 6:07am
Quoting TudorGirl

Some folk are concentrating on the M5. Some are focussing on the H1. This is great! We can hopefully accommodate both the scalpers AND the swing traders.

Anne
Great. Now that we're all on the same page, I'll continue my 1 hour testing. I'll post the charts as I go and post the excel sheet at the end of next week.
  • #1,682
  • Jun 12, 2009 6:09am Jun 12, 2009 6:09am
Quoting Digitalis
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....
The only trouble with using this idea as a Tp is that it sometimes takes you back in too early and then it carries on going against you!!
  • #1,683
  • Jun 12, 2009 6:10am Jun 12, 2009 6:10am
Quoting GEOFFREY62
WE ARE NOT INTERESTED IN ANY OTHER INDICATORS. Just stick with original and lets trade it for a while.
Geoff
Absolutely spot on! I couldn't agree with you more.
  • #1,684
  • Jun 12, 2009 6:21am Jun 12, 2009 6:21am
valid Paulus Gj short signal may be triggering after 5m candle closes
  • #1,685
  • Jun 12, 2009 6:25am Jun 12, 2009 6:25am
Thats me done for the week. up overall but not done too well today. my aim for next week is, as always, to be more disaplined and stick to my plan! play nice everyone and lets hit monday hard with a trendmagic hammer!! gota go teach the next generation how to drive. god help me!! lol
  • #1,686
  • Jun 12, 2009 6:26am Jun 12, 2009 6:26am
Quoting stevewide
valid Paulus Gj short signal may be triggering after 5m candle closes
Meaning post #414 rules?
You are in a maze of twisty little passages, all alike.
  • #1,687
  • Jun 12, 2009 6:39am Jun 12, 2009 6:39am
Gj update: had 49 pips; held for 50 at 161.00; got 30....greed and fear
Steve
  • #1,688
  • Jun 12, 2009 6:41am Jun 12, 2009 6:41am
Quote
Meaning post #414 rules?

yes; see 5m HG turn blue then red again agreeing with 15m or 30m HG.
Thanks

Steve
  • #1,689
  • Jun 12, 2009 6:44am Jun 12, 2009 6:44am
Quoting stevewide
Gj update: had 49 pips; held for 50 at 161.00; got 30....greed and fear
Steve

Still in with 10 and a SL of break even..... Fear is why am still in....lets see what happens.
  • #1,690
  • Jun 12, 2009 6:46am Jun 12, 2009 6:46am
I kept a looser stop (with a smaller position) on it and i'm still in. Trailing with the TM line now.

I'm also in a EURGBP.
You are in a maze of twisty little passages, all alike.
  • #1,691
  • Jun 12, 2009 6:47am Jun 12, 2009 6:47am
Closed for 50.

A perfect Paulus set up after a short reverse in trend at the 5m.

Excellent
  • #1,692
  • Jun 12, 2009 6:49am Jun 12, 2009 6:49am
nice one; wish I could have been there......
  • #1,693
  • Jun 12, 2009 6:57am Jun 12, 2009 6:57am
3 trades today

All in the 5 min TF.

USD/CAD +56
GBP/US +32
EU/US currently 100pips (still open) but 75 pips secured.

I tried using the strongest signals in the last few hours, waited for the pull backs before entering.

I am using support resistance areas for TP.

Best day so far using this system for me.

I am working out a plan to take between 50-100 pips daily. This has meant less trades for me but also less losses.

Now I can use what I know of PA more profitably with the system and indies developed by Paulos and Anne respectively.

Many thanks to you both.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #1,694
  • Jun 12, 2009 7:04am Jun 12, 2009 7:04am
Quoting Ezzy
3 trades today

All in the 5 min TF.

USD/CAD +56
GBP/US +32
EU/US currently 100pips (still open) but 75 pips secured.

I tried using the strongest signals in the last few hours, waited for the pull backs before entering.

I am using support resistance areas for TP.

Best day so far using this system for me.

I am working out a plan to take between 50-100 pips daily. This has meant less trades for me but also less losses.

Now I can use what I know of PA more profitably with the system and indies developed by Paulos and Anne respectively....
NICE TP。。。GO on
  • #1,695
  • Jun 12, 2009 7:07am Jun 12, 2009 7:07am
Quoting Ezzy
3 trades today

All in the 5 min TF.

USD/CAD +56
GBP/US...


The last 4 days half been just over break even ( I entered too many trades)

I guess the results on those days have been due to lack of discipline and patience (not due to the system)

Hopefully, I can begin to trade better.
What you do is a reflection of you....what I do is a reflection of me.
  • #1,696
  • Jun 12, 2009 7:07am Jun 12, 2009 7:07am
I think with current market behaviour 150+ a day shouldn't be too hard to achieve.

By sticking rigid to the rules, waiting for the pull back and taking the entry there are plenty of trainig opportunities.

The problem for non full time traders is always going to be not being able to monitor the charts full time.

Is anyone only trading the hour time frame? If so how succesful is it being?

Its back to the issue of a sms ea which can alert the non full timers to a set up developing.

Well done on your 150 though Ezzy. I wasn't watching the CAD/USD. Will from now on. I can just about handle 6 pairs on the screen waiting for the signal. anymore than that and i think i will go blind
  • #1,697
  • Jun 12, 2009 7:09am Jun 12, 2009 7:09am
[quote=Ezzy;2798976]3 trades today

All in the 5 min TF.

USD/CAD +56
GBP/US +32
EU/US currently 100pips (still open) but 75 pips secured.
....

Ezzy,

What is your TP strategy? And what are you using for your SL?

Thanks
  • #1,698
  • Jun 12, 2009 7:14am Jun 12, 2009 7:14am
Ok,
Finished for the day 2% of my small live account banked.
Trades for the week starting last monday sticking to system as in post 414 as near as I could(did close one trade early, lack of discipline to follow
system).
Total trades for week spread over gbp/usd and euro/usd
26
17 wins
9 losers
Trading with small amounts of real bling bling(thanks edge) at 0.01 lots.
Things I need to get better at:
1 Pulling trigger when signal is right, am still getting in a bit late and hesitating.
2 Sitting on my hands and watching action go against me above/below tm line, having been in profit, but as Paulus says, rules is rules.

So overall a profitable week, hope everyone takes a deep breath over
weekend and we can all start afresh next week with the system as originally designed without all these distractions
Kind Regards
Geoff
  • #1,699
  • Jun 12, 2009 7:18am Jun 12, 2009 7:18am
Quoting MAD
Here is the update from this earlier trade.
TP was hit for 110 pips.
Hi MAD.
I was looking at your chart and from what I can see, your HGMTF indicator is set to 1hr, 30, 15, 5.

Is that what you're using as a trigger for your 1 hour trades?
If so, can you elaborate on how you decide when to enter?

I'm asking, because I would have expected it to be something like 1hr, 4hrs and 24hrs or something similar, with the trigger being the change of the 1hr to match one of the others...

Thanks
Full-time trader and loving it!
  • #1,700
  • Jun 12, 2009 7:18am Jun 12, 2009 7:18am
[quote=waddij;2799004]
Quoting Ezzy
3 trades today

All in the 5 min TF.

USD/CAD +56
GBP/US +32
EU/US currently 100pips (still open) but 75 pips secured.
....

Ezzy,

What is your TP strategy? And what are you using for your SL?

Thanks
When I am disciplined enough to enter on the pul back, my SL is ususally the previous horizontal line on the trend line.

My take profit is the next major support/resistance. However I keep moving my stop loss to above the previous horizontal line of the tren magic.
What you do is a reflection of you....what I do is a reflection of me.
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