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EUR/GBP Trendmagic System

  • #1,741
  • Jun 12, 2009 12:30pm Jun 12, 2009 12:30pm
I have updated the 1st post would like to edit post 414 but the mechanics of the things wont let me

Paulus

ps let me know if I have made a mistake or if you think I should add some thing else..the text in bold is just to provide a quick glimpse as to where we are now
  • #1,742
  • Jun 12, 2009 12:36pm Jun 12, 2009 12:36pm
Quoting notch
Thanks for that. Edge, to be honest mate..whatever...trading standards bla bla...whatever seriously I need to finish cloning this thing so that I can have it trading on my account by Monday.

I'll just lurk from now on so the floor is yours so feel free to rant about whatever.
I was not aware YOU had the floor as you were not saying anything constructive. However, your decision to yield such will allow you ample opportunity to clone others work as written and incorporate it into your tool box as desired. Am sure Paul and Anne appreciate your participation and look forward to any meaningful contribution you may have other than fained 'downunder' sarcasm.

Easy enough to put me on 'ignore' though and maintain your professionalism instead. The 'rants' have meaning to some and not to others. Again, the 'ignore' or simple ommitted reading of a post is a possibility everyone has the chance to implemet here.

Best of luck to you trading 'mate'.

Regards.
  • #1,743
  • Jun 12, 2009 12:39pm Jun 12, 2009 12:39pm
Quoting Edgetrader
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...
Hi Edge. Can Renko bars run on an MT4 platform or is this Tradestation or something else. I love the look of the first chart - much easier to stay in the game than the second.
  • #1,744
  • Jun 12, 2009 12:52pm Jun 12, 2009 12:52pm
here is a screen shot with renko bars set to 5 I have min all other inds
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  • #1,745
  • Jun 12, 2009 1:06pm Jun 12, 2009 1:06pm
OK thanks. But what is that showing me - it just looks confusing to me and gives no clearer signals than TM does.
  • #1,746
  • Jun 12, 2009 1:14pm Jun 12, 2009 1:14pm
Paul,

I am not aware of a Renko setup utilized by the MT4 platform as of this date. I see that you are looking at the indicator discovered yesterday, however, it is not a true Renko as it is incorporating a TF within it. As such, it may be invalid as a tool for trading the 5m as shown in your chart.

Here is a Renko/Candlestick for a TS platform. Candles are at 5m and Renko is 10 tic. Large bull move during U.S. session pretty easy to see on both but still a bit smoother with Renko alternative. A Renko 5 tic still produced the move from a signal standpoint, but is drastically different from the chart you show.

Just an observation.

Regards.
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  • #1,747
  • Jun 12, 2009 1:19pm Jun 12, 2009 1:19pm
Just short e/u @ 1.4012
Make money Not pips
  • #1,748
  • Jun 12, 2009 1:20pm Jun 12, 2009 1:20pm
Here is a 5 tic chart to compare with.
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  • #1,749
  • Jun 12, 2009 1:22pm Jun 12, 2009 1:22pm
Since most people on this thread are looking at MT4, why are we investigating utilising Tradestation platform which is a paid service I believe? Sorru if I have missed the point.
  • #1,750
  • Jun 12, 2009 1:32pm Jun 12, 2009 1:32pm
Quoting balle1973
Just short e/u @ 1.4012
Nice call. Pretty easy to recognize regardless of which indi's one uses. Need only a primer and trigger.
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  • #1,751
  • Jun 12, 2009 1:39pm Jun 12, 2009 1:39pm
Quoting notch
Because Edge is determine that the world of FF to know that he is a GREAT trader.
In answer to the actual question, previous posts have laid out the plan that ALL aternatives are being investigated so as to provide the best tools available for everyone.

It is NOT a paid service, you simply have to ake a few trades monthly to get it at no cost. They will even let a the ones suffering no life in the downunder trade if they can show some aptitude to such.

Again, nothing to contribute but slobbering blather simply will not raise ones perception as a fool Notch. Cheers Mate!
  • #1,752
  • Jun 12, 2009 1:45pm Jun 12, 2009 1:45pm
Quoting notch
Seems like an exercise in futility to post a chart - by your own admission - to which most people here won't have access.
I see the self proclaimed trader (yourself) has not yet used all the tools available to them. The cost is only 5k to open an account and 2.5k to maintain the account. As you seemingly do not yet possess those required funds, as I said and erroneously apologized for much earlier;

Stay in the back of the bus dude! You are clearly not ready yet.
  • #1,753
  • Jun 12, 2009 1:47pm Jun 12, 2009 1:47pm
Quoting Edgetrader
It is NOT a paid service, you simply have to ake a few trades monthly to get it at no cost.
Tradestation is a brilliant product, imo, especially since they brought in the "Radar" scanning tool. I used it a few years ago when day-trading the Nasdaq very effectively, you can monitor a load of symbols extremely easily, without needing the charts up and be alerted in real time when your criteria for a trade are met.

The pricing is free if you trade 10 round-turn lots or 100 round turn mini-lots per month, otherwise the charting package costs $99.95 per month and the Radar scanner another $59.95 per month.

Although I won't trade through TS, as I want to keep spreadbetting, I'm seriously considering paying for the platform. It really is that good. And it would be fun to apply the indicator to stock prices to see what happens

Edit: I forgot, I think there are data fees to be added in as well...
Full-time trader and loving it!
  • #1,754
  • Jun 12, 2009 1:47pm Jun 12, 2009 1:47pm
Quoting notch
Thanks Edge. I'm definitely a fool.
Straight from the horse's mouth and undebatable!
  • #1,755
  • Jun 12, 2009 1:47pm Jun 12, 2009 1:47pm
nice pip for the week.. happy trading to all..
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Patience is the keyword here...
  • #1,756
  • Jun 12, 2009 1:48pm Jun 12, 2009 1:48pm
Quoting balle1973
Just short e/u @ 1.4012
close -19 pips according to rules
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Make money Not pips
  • #1,757
  • Jun 12, 2009 1:51pm Jun 12, 2009 1:51pm
Quoting Digitalis
Tradestation is a brilliant product, imo, especially since they brought in the "Radar" scanning tool. I used it a few years ago when day-trading the Nasdaq very effectively, you can monitor a load of symbols extremely easily, without needing the charts up and be alerted in real time when your criteria for a trade are met.

The pricing is free if you trade 10 round-turn lots or 100 round turn mini-lots per month, otherwise the charting package costs $99.95 per month and the Radar scanner another $59.95 per month.

Although I won't trade through...
I believe it was 'Notch" who mentioned that the TM/TG indi's work well with stocks also. Not sure which broker or platform he utilized to check that, but it was at least an MT4.
  • #1,758
  • Jun 12, 2009 1:55pm Jun 12, 2009 1:55pm
Quoting balle1973
close -19 pips according to rules
Regardless, a very nice setup.

The debate is whether or not to scalp for +7 to +10 pips or just run signal to signal on a swing.
looking for a mini-trend to take ahold.

Just a matter of choice.
  • #1,759
  • Jun 12, 2009 1:56pm Jun 12, 2009 1:56pm
short e/u 1.4015
Make money Not pips
  • #1,760
  • Jun 12, 2009 1:57pm Jun 12, 2009 1:57pm
Someone....I don't know who, without scrolling back, made an observation to simply open and close a trade when the Vorticity color matched the Trend Magic color. I've done a visual test on a few pairs and time frames of 5 minutes and one hour, and it shows that this alone would work great. Open a trade when they both match, and don't close it until you get a match of both in the opposite direction. You don't even have to use the MTF indicator, but it seems that trades are better when two or more of those time frames match. Like everything else, this would take discipline to stay in trades. From what I see, there is minimal drawdown, and it's as easy as paint by numbers. Maybe those with programming skills can either make an indicator or EA to alert to when the Vorticity and Trend Magic colors match? In any event, trading mechanically like this provides you with both your stop and take profit, and I can't imagine an easier way to trade. As simple as red light, green light. As time permits, will do some more visual testing to account for choppy and ranging markets and for three or four pairs & report my findings next week.
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