EUR/GBP Trendmagic System

I didn't explain this clearly, the quicker the color change the better the opportunity. At least two of the four must change in a short time frame before I consider it worthy. Hopefully you will see the third one change and then the fourth one change as the trend continues, but watch closely as trends change constantly. Be aware of the timing of news events so you will be paying attention, don't try to interpret them, just interpret the market's reaction.

Profit is all about interpretation of the indicator.

Hi guys,
Just my two cents....
I don't mind reading ALL of this thread (or any other for that matter).
In fact, reading the key posts again and again. The creators have spent
countless hours working on stuff for us all. How can anyone say they don't have time to read the thread. Wow!

I am one who thinks I am sitting on a gold mine and trying hard to learn how
to get my modest share of the pot, consistently. Why can't people decide out for themselves where they want to TP? Everyone has their own goals and their own tolerance and level of patience. We are not robots to be programmed by others. Anyway, I am still learning to 'trade' like Anne said
of herself. With help from contributors here, we all have a chance to
learn and become successful. Thanks again to everyone for their
time and help.

And... I do need help because I can't see clearly myself. On the chart,
the 5 minute indis are all red. We have been massively down all day. However, the last 2 hours have given lots of pips on a short term trend UP.
I shouldnt trade this because there is not confirmation of blue boxes on
either 15 or 30 minute Tfs. So, here I sit. Any comments please?

sorry, here is the chart.

LOL - nicely put!

I'm wrong or TG_Velocity.ex4 repaints????

No you should not trade until you get confirmation from 5 Min plus 15 m
it will keep you safe trust me i learned the hard way. If you draw a Fibonacci from the previous high to the low you will see that this is just a 61% pull back and is tecnically a short trade. Hope that helps.

http://www.forexfactory.com/showpost...postcount=1473

Normally when I enter a trade I make sure first that entry criteria are met, I know where my TP is and I know where my stoploss is. For this system, so far we have only defined 2 of those 3. So doing results comparisons over a couple of weeks means we are not measuring like for like.

However, I suppose it does mean that we can examine the best results and look at the exit methods used by those people, and adopt them ourselves if we want.

I'm guilty myself of looking for a TP target on these trades, because it hurts to see so many potential pips disappear as price returns to SL. I suppose we're trying to maximise our profits before we've even evaluated the system properly.

I agree, don't trade if you don't have the defined trigger signal, there will always be another one.

Just some observations...The thread started only 45 days ago and there are 1740 posts, which is an average of 40 a day. Right now, 106 people looking at it. With the interest of this new and GREAT system, you're going to get people who either don't have the time to read the entire thread, or don't want to bother reading it, posting questions. It happens with every thread, and maybe we can just live with it and politely tell them to read post #1, put them ignore, or ignore the question as if it was never posted.
People want to be involved; to think they are able to make a contribution. This also is just human nature. Bear in mind that what might seem like a dumb observation or a worthless post from even a newbie can sometimes turn out to be a very valuable one.
Not everyone here is a professional trader. I would venture to say that at least 95% of the people reading have other jobs, and are doing their absolute best to learn forex, and learn from those of you who have more experience of trade full time. We should be kind to them, because every one of us was there at one time.
As far as posting of new indicators, I think everyone agrees that what we have already is all that we want. Maybe Paulus can put in 20 point on the first page that there to be NO posts suggesting new indicators?
As for different time frame testing, I can see the point that this is Paulus's thread, and it's a 5 minute system. Maybe as time goes on, other threads can be opened that discuss higher time frames.
http://www.forexfactory.com/images/misc/progress.gif

Please read the post again.

I clearly said that trading the plan as designed was indeed one of your options. Also mentioned that slight modifications were available that allowed one to trade the base plan while fitting it to their own personal trading style.

Apparently, only a few have gotten the point. As a trader yourself, you are well aware of the +2%/-4% analogy, or you should be. This entire method is based SOLELY on a PE per trade basis, whereas your winning trades produce more than your losing trades. That is, unfortunately, provided you are not greedy and go for 50 pips when it is rarely offered. That is simply how a 5m plan is designed, implemented and traded.

Further, Paul himself has informed all of you that TP's should be achievable and once the market has allowed you to hit such, YOU ARE DONE.

I can respect that you are more attuned to trade far longer than conventional wisdom dictates for a 5m chart and seek the larger pip counts, however, that is clearly a choice you make and is not recognized by any market in existence as prudent. I was my understanding that, throughout your postings, you were attempting to IMPROVE your own trading by incorporating some of the material here into your own trading efforts.

Now, as you are focusing on trading this plan to a tee, one is left to wonder what your own efforts were focused on? I think perhaps swing trading on a higher TF (1H ?) is more in line with your past efforts (just an observation). That is fine, but it is simply not a TF that a small retail trader is going to be able to fund accordingly. Much less trade effectively.

Lastly, I did indeed mention that if my initial statement offended anyone, it was not personal. Sorry you took it as such. Geez Notch, if you have some of your own material that can improve the thread GREAT, but do not insinuate that a trading style recognized by industry standards as pretty much gospel is not conducive to steady account growth. In fact, throw us a few trading efforts on a chart showing how YOU are trading this so we can all learn together.

Until then, I will expound my own poison. Here is yet another well defined setup producing profits. It took a bit longer than earlier, but all criteria is met. Indi's are aligned and you could have some solid trades from such.

Regards.

Might I suggest that to test the our hypothesis fully we break it down by Degrees of Freedom and assign those to volunteer testers? We collect results in a centralized/standardized manner. Then once our sample set is large enough we can do some valid analysis on the system. I know that it has been said that this can be done programatically via an EA. That is true and would provide some good data for analysis. But let's face it, none of us trade mechanically and while data provided via an EA in FORWARDTESTING is valid it does not accurately represent the results a person trading the system would achieve due to various factors (experience, time constraints, work, interpretation, exhaustion, etc.). Therefore, for test results to be accurate for manual trading, manual trading needs to be done.

One other DoF to consider is which currency pair one is trading. For testing purposes it is probably best to limit this to only a few.

Paulus and TudorGirl - is this something you think we should do?

Cheers,
MB

Remember that all MTF (Multi Time Frame) indicators can be repaint until the larger time frame candle are open. For e.g. if you are using a MTF indicator in M5 chart with the time frame setting for H1 (12 M5 candle = One H1 candle), this mean the indicator can repaint the last 12 candle until H1 candle will be closed.

Dani,
Enjoy Trading

Trademeister,

Trends are like waves in the ocean. Once the wave has crashed on the beach, it looses its power. You need to catch the wave, not look at it after it has lost its power.

The power is when Trendmagic_MTF CHANGES COLOR! Once it is already all red or already all green, the wave has occured and may or may not be finished, unpredictable. Trendmagic_MTF is a little laggy but Anne has fixed that with the addition of the Hydrodynamic indicator. You failed to notice the CHANGE IN COLOR of the M5 Trendmagic indicator which shows the down trend is OVER, or at least for now, and the M15 is changing too which validates the trend reversal. You can't just jump on an existing trend and hope it continues, you need to jump on when it changes, wait for the change, be disciplined enough to wait or you are guessing.

The current uptrend may be over, as the M15 indicator has turned back to RED while I was posting this, but you can also see the 18 pips I got riding it up (came down and hit my 15 pip trailing SL). If I can get 18 pips everyday .... LOL

Not everyone here is a professional trader. I would venture to say that at least 95% of the people reading have other jobs, and are doing their absolute best to learn forex, and learn from those of you who have more experience of trade full time. We should be kind to them, because every one of us was there at one time.

Very good point. Efforts are exactly being focused on lower TF (5m) and providing a couple of trading alternatives. Either trade the plan EXACTLY as set forth and live with those results, or modify it slightly to make it more of a true scalping method, set much tighter TP/SL peramaters, and live with those results. Either way will work.

U are right! I forget this simple but important element!!!!
Tnx & happy trading

Please let me know how can we go directly to a post in a thread.

Thanks

Here is post 1651

Obviously there are more than a couple of goals here.

For the most part, providing the best tools available in order to make the best, most informed trading decisions are at the top of the list.

The indi's are pretty much a done deal. Work pretty well on any TF you choose. Still a bit of issue with TP, SL, re-entry and the like. That is going to end up as a personal choice as there is simply no way a trader can have the same levels set forth on a 5m as that on a 1H. That is assuming you follow standard charting capabilities afforded by most brokers. These issues are also being addressed in order to help EVERYONE succeed.

Lots of talk on EA's throughout the thread also. While I personally do not trade them exclusively, they are available and can be incorporated as a guide to help with ENTRY into a trade predominantly, and EXITING a trade as a choice.

While Anne is starting to focus some efforts to trading as opposed to indi development, lets again look at something that, while on the surface is completely different than that of the thread, is in fact simply a different view of PA with almost exactly the same indicator visualization albeit with a different name.

Having spent all week speaking by PM to Anne, while in the meantime providing her a glimpse of alternatives to MT4 platform setups, I present the following chart shots.

As shown it has a MA and TRIX indi. This is very comparable to the TM/TGSF indi which Paul and Anne presented you which many of you are checking out. They are not yet coded in 'easy language' format but it is still early. We are focusing more on trading setups and results thereof as a starting point.

If you will note, they are Renko blocks (5 tic) as opposed to your standard candlestick format. As you should now know, true Renko blocks are not TF dependent and develop based solely upon PA as it develops. This may be an invaluable tool to add to your tool box as you see fit.

Of some interest is a 'MOMENTUM" EA that is currently being run on these pairs. Pretty easy to see the entry points based upon the PA crossing the MA with one indi confirmation (TRIX) which is very similar to using the TM/TGSF combination at the moment.

So, compare them with your own charts. Pretty close but perhaps a tad quicker than the 5m you are looking at. Might be a bit less congested also but that is neither the point nor the object being professed here. Can you recognize trading opportunities? Can you trade a signal for a predetermined TP/SL, or an entire mini-trend signal to signal? Sure you can! It is nothing more than ascertaining your own trading style (scalp or swing), having some faith in your trading plan, and setting up a few goals with regards to MM.

Naturally as with any tool offered, you either explore its potential to you, keep it in the box for re-evaluation or scrap it as it does not suit you.

When this next week ends, you should have EVERYTHING you need to make a go of it. Might want to really think about your MM a bit over the weekend and implement those decisions into your trading efforts (demo or live) next week to see where you stand.

Lots of stuff to digest in the thread, but you can easily simplify the materials and select the lille nuggets that fit you as an individual.

Regards.

In the end, ANY trader will utilize EVERY tool available that offers them the best chance to place a good trade based upon their chosen trading criteria. Which platform and brokerage you decide upon is simply another choice you have based upon your own personal preferences.

Thanks paulus and TG for such a wonderful system..now we can all stop eating scraps,time for stake.(lol)

At what point do you take ur entry?