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EUR/GBP Trendmagic System

  • #1,801
  • Jun 13, 2009 9:00am Jun 13, 2009 9:00am
Quoting sirwolf
Paulus,

Just a note on your suggested fixed TP. I used this method on Wed and was using a 20 PIP TP. I had MANY winning trades. I also reentered on pull backs where the 5 MIN was still the same color. I took out almost 400 PIPS doing this. One to consider for sure.

Bill
SirWolf
Good comment, Sirwolf. A few posts ago, I'd suggested moving down a tf to look for a retrace/ pullback and then rejoin the trend on the tf you're trading, if its still the same.

Regards
  • #1,802
  • Jun 13, 2009 9:01am Jun 13, 2009 9:01am
Quoting Pardy
If you read the thread, you'll find out, before making comments that DO NOT add anything to the method, or trading knowhow.

Lets keep the thread friendly, positive and insightful.

Kind Regards
good point,I have deleted my posts
  • #1,803
  • Edited 9:13am Jun 13, 2009 9:11am | Edited 9:13am
Hi Paulus, I tried this method on Friday for the first time and had +50 on GU and +30 on GY but then watched it all evaporate as I did not take profit and then kept 'hanging' on even tho the signs turned against me. Now in hindsight I see what I did!
Your comment below that on a 5 min chart, expecting 100 pips is unrealistic .. that is what I should have known. Also as Eyyl pointed out, a good idea is to take profit according to the pair traded .. so at +50 or even +48 on the GU, that would have been great.

Another idea ... borrowed from bunnygirl who used to trade the EU using her own indicator the bunnygirl cross or BGX .. what I learned from her trading style (which rumor has it eventually made her a millionaire) was that she always got 3 separate positions .. took profit from #1 at +10 pips and set the other 2 to BE. Took profit from the 2nd at +20 pips and let the 3rd ride with a 20 pip trailing stop (mental). If they all went against her, she allowed a 20 pip SL. All you need is a 60% win ratio to make consistent profit and the TM method seems to promise a lot higher than that .. I would say closer to 80% if one is patient to wait for best entries.
Above numbers are for the EU, could be adjusted to suit other pairs, but that is the idea and if you put it on a spreadsheet, you will see that it produces spectacular results and helps eliminate the TP & SL dilemma.

Quoting Paulus
.................
As for the SL agree its tough when you see 50 pips on the table and walk away with 10 perhaps a more efficient sliding stop is needed again I have some ideas

I have systems that use a fixed TP for example but we have to be careful not to be greedy and set the bar to high.Ive also got systems that in the past have taken off half the position at a certain pip count stop to break even and let the rest ride with a sliding stop..... but in the long run you make just as much by closing it all at your 1st TP

1min tp approx 5- 15pips
5min...
******************* I'd rather make money than be right.
  • #1,804
  • Jun 13, 2009 9:17am Jun 13, 2009 9:17am
Quoting sirwolf
Paulus,

Just a note on your suggested fixed TP. I used this method on Wed and was using a 20 PIP TP. I had MANY winning trades. I also reentered on pull backs where the 5 MIN was still the same color. I took out almost 400 PIPS doing this. One to consider for sure.

Bill
SirWolf
Now that is impressive! If I can find the discipline to grab those consistent smaller profits, I am convinced the overall result will be a lot better than always trying to hold out for more ... more .. more...
******************* I'd rather make money than be right.
  • #1,805
  • Jun 13, 2009 9:18am Jun 13, 2009 9:18am
Notch,

Please dont think comments from some go for all. A lot of what you and Edge have said and showed us has been very helpful and those that know the thread and have read from the start can see what you have done is relevant.

Paulus,

As has been commented by a lot of people so far the choice of exit and TP is a personal thing for the individual. One persons goal of achieving a set number of pips per trade is going to differ from the others

I think more importantly than testing the exits and setting the TP is the initial testing of the system for the entry in order to determine if the suggested method is getting us into trades at the right place. They will be succsfull trades if the trader closes for a profit or not.

In order to 'test' the system people need to be posting their entry and the rules they followed for the entry and where they took the exit and why. Then by discussing these decisions in an open and friendly thread we can make our own decisions on if we are going to aim for 10 pips or 100.

Thanks again for the help. Will be looking to post details of all trades taken from Monday in order for us all to learn.

Cheers
Waddij
  • #1,806
  • Jun 13, 2009 9:23am Jun 13, 2009 9:23am
Quoting sirwolf
Paulus,

Just a note on your suggested fixed TP. I used this method on Wed and was using a 20 PIP TP. I had MANY winning trades. I also reentered on pull backs where the 5 MIN was still the same color. I took out almost 400 PIPS doing this. One to consider for sure.

Bill
SirWolf
SirWolf,

Can you please explain a bit further what you were doing on the pull backs......

Were you waiting as per the system for the color to change back to the trend colour or were you trading against the trend. If so what was your exit strategy? Set no of pips of colour change.

Thanks
Than
  • #1,807
  • Jun 13, 2009 9:25am Jun 13, 2009 9:25am
On the ant-GUBreakout indicator there are several input settings .. the first one says "change this number" But change it to what?
Also the GMT offset .. is that offset to one's broker time or the local time on your computer?

I'd like to have a version of that indicator that shows open/close times for UK and US as well .. I could do that myself if it were an mq4 file, I don't know how to work with the ex4. (Maybe I should learn....)
******************* I'd rather make money than be right.
  • #1,808
  • Jun 13, 2009 10:56am Jun 13, 2009 10:56am
Quoting TimeFreedom
@ Edgetrader

Not sure if this has been asked before, but where do I find the Scalping Technique indicator?

Edit: I looked all over this forum and can't seem to locate this indicator. Please advise.

TimeFreedom
As requested. Hope you find it a useful tool.

Regards
Attached File(s)
File Type: mq4 Forex Trend fxfariz.mq4   3 KB | 971 downloads
  • #1,809
  • Jun 13, 2009 11:02am Jun 13, 2009 11:02am
Thank you to:
mgs1f
Digitalis
Rubberband

Thanks for taking time to give me advice. I will work harder next week employing your helpful comments.
  • #1,810
  • Jun 13, 2009 11:05am Jun 13, 2009 11:05am
Quoting Geppyg
Edge put him on your ignore list...I have he is not trader just another wannabe who insults people on this forum...thinks...he knows everything...
Lil kid.....

one word for notch IGNORE
I think both Notch and I are just trading with vastly different approaches.

Obviously, our ego's are the bain of our existance. Unfortunate words were exchanged and I believe a 24 hr. timeout has been in order.

Notch has as much right as anyone, including me, to set forth his observations and ideas on plan improvement.

I think it is simply best that he post what he feels and I do the same with the caveat that neither reply directly or indirectly to each others various postings.

That will at least allow everyone to gleen and pearls they may think exist from all the posting of all the contributors.

As Notch stated, time to move on here.

Aplologies to the community in general.

Regards.
  • #1,811
  • Jun 13, 2009 11:14am Jun 13, 2009 11:14am
Quoting Edgetrader
I think both Notch and I are just trading with vastly different approaches.

Obviously, our ego's are the bain of our existance. Unfortunate words were exchanged and I believe a 24 hr. timeout has been in order.

Notch has as much right as anyone, including me, to set forth his observations and ideas on plan improvement.

I think it is simply best that he post what he feels and I do the same with the caveat that neither reply directly or indirectly to each others various postings.

That will at least allow everyone to gleen and pearls they may...
Nicely put, Edge....

I agree with you... different approaches indeed, and really interesting insights from both... but a word battle ends in pushing people away from the thread...

I really hope to see the best insights from both of you again...


Cheers, and good trading to all!
HT
Many share my views with me. But I don't share them with them...
  • #1,812
  • Jun 13, 2009 12:19pm Jun 13, 2009 12:19pm
All,

For clarification of several points raised by members, please see my post on the other forum (Nisha's thread).

http://www.forexfactory.com/showpost...4&postcount=43

Thanks

Anne
  • #1,813
  • Jun 13, 2009 12:26pm Jun 13, 2009 12:26pm
I think its great seeing what other traders are using real time for themselves.. so I hope people from now on will post charts
showing your trades. If you have some different indicators you
are using on your chart, we can see them that way
without posting about them specifically, and those interested
can pm you to inquire. This way we can grow, as individuals may
like on their own, learning about how special indicators can
add to this system for some traders who like them.. but do not
clog up the thread with posts about them.

Just post your charts now and then so we can see your trades
people.. I know many traders learn better seeing
than just reading about your trades, also every broker
has different time frame and feed so your signals
wont be the same as the next.

Thanks!

Brian

Quoting ozziedave
Hi Notch,

Missed this post. I agree with you 100% that we've been handed an opportunity of a lifetime here and I for one would like to see this thread continue....
  • #1,814
  • Edited 4:14pm Jun 13, 2009 1:28pm | Edited 4:14pm
Quoting notch
Hi,
I think I have managed to recode the TM thing that I posted yesterday. Again, the signals aren't exactly the same but I will post the final code to the web-site when it is complete but this may take upto (if not longer) 4 weeks plus I want to liase with TG as I've merely cloned P/TG's work.

Thanks

P.S. The system is not an exact replica at this point in time but I'm working towards it but I'm also finding profitable derivations along the way.

Hi.

We just joined this forum and read almost 40% of the posts. We would like to read the two values displayed by TM and use them for programming. Unfortunately it doesn't work. We have just assumed that TM is a custom indicator and can be read through iCustom:

Main = iCustom(NULL, 0, "TrendMagic",ParamCCI,ParamATR,ModeMain,0);
Val2 = iCustom(NULL, 0,"TrendMagic",ParamCCI,ParamATR,ModeValue2,0);

with ModeMain=0 and ModeValue2=1.

Anything wrong?

Sorry, we are experienced coders but new to MTL programming.

We appreciate your help.

Pat
  • #1,815
  • Jun 13, 2009 1:41pm Jun 13, 2009 1:41pm
Quoting InvGroup
Hi.

We just joined this forum and read almost 40% of the posts. We would like to read the two values displayed by TM and use them for programming. Unfortunately it doesn't work. We have just assumed that TM is a custom indicator and can be read through iCustom:

Main = iCustom(NULL, 0, "TrendMagic",ParamATR,ParamATR,ModeMain,0);
Val2 = iCustom(NULL, 0,"TrendMagic",ParamCCI,ParamCCI,ModeValue2,0);

with ModeMain=0 and ModeValue2=1.

Anything wrong?

Sorry, we are experienced coders but new to MTL programming.

We appreciate your help....
You can call TrendMagic thru iCustom() no problem. I did this myself on the prototype HG_0001a indy.

But make sure you do it right!! The code above is wrong!

Anne

PS Before you ask, I won't give advice on code. It would open a floodgate I could never close....
  • #1,816
  • Jun 13, 2009 2:20pm Jun 13, 2009 2:20pm
Hi notch,

Your posted chart is a work of art but I'd go blind watching it. I'm new to this thread so please don't take that as an insult as it's not meant to be. Still trying to understand the direction of everything and saw your post and thought wholly crap that's really interesting. The code must be mind boggleling. I've written a few crazy things myself so I fully understand your efforts here. Is this a beginning to a system or the almost final result? I see an analysis sheet here with mixed results which leads me to think it's not done yet. Whatever it is good luck and I'll keep reading.

Trade well and prosper,

Johnny

======================================================

Originally posted by notch,
Hi,
I think I have managed to recode the TM thing that I posted yesterday. Again, the signals aren't exactly the same but I will post the final code to the web-site when it is complete but this may take upto (if not longer) 4 weeks plus I want to liase with TG as I've merely cloned P/TG's work.
  • #1,817
  • Jun 13, 2009 2:39pm Jun 13, 2009 2:39pm
Quoting TudorGirl
You can call TrendMagic thru iCustom() no problem. I did this myself on the prototype HG_0001a indy.

But make sure you do it right!! The code above is wrong!

Anne

PS Before you ask, I won't give advice on code. It would open a floodgate I could never close....

Thank you for your time.

We believe that giving is better than receiving. In addition, we didn't ask you to give away what you call "your baby". As we said, we are new to MTL and just want to know how to call such a custom indy.

To bad that you already replied that way. We read your reply just before making another post in which we would have suggested you a trading strategy based on your indy. We are new to MTL but not to trading.

We hope other traders are open to sharing.

Thank you.
P&P

P.S: Dear Traders, we still need help and and we value any idea.
  • #1,818
  • Jun 13, 2009 2:40pm Jun 13, 2009 2:40pm
Quoting waddij
SirWolf,

Can you please explain a bit further what you were doing on the pull backs......

Were you waiting as per the system for the color to change back to the trend colour or were you trading against the trend. If so what was your exit strategy? Set no of pips of colour change.

Thanks
Than,

I was basically following the main system. If the 15, 30 and 60 TFs were blue, I would wait for the 5 min to go red. When the 5 min went blue I would enter and use a 20 PIP TP. SOmetimes it ended up being 25 if the move was quick. I would exit no matter what. I would watch the
trade if I was able. If the price pulled back 15 or 20 pips from where I exited, but the 5 min remained blue, I would renter as I assume it was a small temporary retracement. I would then try to grabe another 10-20 pips. I did this a half a dozen times or more on the EU and GU pairs.
Believe and Achieve!
  • #1,819
  • Jun 13, 2009 2:51pm Jun 13, 2009 2:51pm
Quoting InvGroup
Thank you for your time.

We believe that giving is better than receiving. In addition, we didn't ask you to give away what you call "your baby". As we said, we are new to MTL and just want to know how to call such a custom indy.

To bad that you already replied that way. We read your reply just before making another post in which we would have suggested you a trading strategy based on your indy. We are new to MTL but not to trading.

We hope other traders are open to sharing.

Thank you.
P&P


P.S: Dear Traders, we still need help and and...
Hi, you could request help in the Programming Discussion thread. Hope it helps.

Regards
Pardy
  • #1,820
  • Jun 13, 2009 4:21pm Jun 13, 2009 4:21pm
I am posting this because I notice Tudor Girl is on line, since it is hopefully a slow day, I won't be interfering with business.

I am back around page 60 and haven't caught up with you yet. Reading every word and learning a lot.

I guess I am a lurker, but then again, I am just staying out of the way of the pro- traders. After all, I wouldn't dare give Jeff Beck pointers on the guitar (notice I am sucking up to the Brit) , nor would I give TG, Paulus, and a lot of you pro traders advice.

I am not a noob, but I suppose I am an 2 year hobby trader who is pocketing a few bucks a month spending money. I love this system!! I went through the "indicator period" when I started out, and have gotten more and more naked in the last 2 years. In a few more years, I might be pretty good.

Anyway, I say all the above drivel, to simply say this: Tudor Girl and Paulus are Professionals in thier field, and they have been working for us for free! This is extraordinary!! This is a wonderful thing all of you are doing for me, and others like me.

I thank you all so much! Especially you, Tudor Girl and Paulus!!

Now I will humbly go back to page 57, continue lurking, stay out of the way, and resume the chase to catch up. Shakey
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