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Tony's Two Candle trading system

  • #181
  • Jun 11, 2009 4:56pm Jun 11, 2009 4:56pm
Tony...great thread....and thanks for the system...simplicity is always the best my friend....i agree with this strategy and i have made some pretty good gains...dont be greedy and this strategy WILL work great....

good thread...i would definitely say that it has helped me...
  • #182
  • Jun 11, 2009 5:14pm Jun 11, 2009 5:14pm
Quoting FX_N00b
Hy smurf !

Just wanted to tell you that I am really sorry that this thread is not so ... active any more... but you are doing a great job here !
I think, if you can, I would like to here more about your strategy to trade with this system.

I understood that you are working on different pairs and is ok for you.
Can you help me with some advices ?

Thx in advance !
And good luck !

I read somewhere that the first 15 min is where the volume is. Some people tell you on here not to change things. I agree. But i like to think outside of the box.


This thread does seem kind of low today.

Look at post 170, 173. Thats the way i trade it. It recommended to use slow currencies.

At the end of every hour i look at the currencies and see what the high and low says at that time. I draw the trend line on the 1 hour and 30 min candles. If it is bouncing of a trend line thats how i enter.

The 4 oclock candle has been the best for the last 2 days. The 8 oclock candle has also been a good time to trade.

I read somewhere that the first 15 min is where the volume is.

Some people tell you on here not to change things. I agree. But i like to think outside of the box.

I also watch for announcements coming out. If im in a trade i always tighten up my stop loss. This is a good thread.

Typing is not my thing, even though i took it in school.

I wish eveyone well.

SMURF
  • #183
  • Jun 12, 2009 2:24pm Jun 12, 2009 2:24pm
Quoting smurf
I read somewhere that the first 15 min is where the volume is. Some people tell you on here not to change things. I agree. But i like to think outside of the box.


This thread does seem kind of low today.

Look at post 170, 173. Thats the way i trade it. It recommended to use slow currencies.

At the end of every hour i look at the currencies and see what the high and low says at that time. I draw the trend line on the 1 hour and 30 min candles. If it is bouncing of a trend line thats how i enter.

The 4 oclock candle has been the best for...

Thx allot smurf !
Have a nice weekend !
  • #184
  • Jun 12, 2009 4:46pm Jun 12, 2009 4:46pm
I did +37 for the day.
  • #185
  • Jun 12, 2009 8:23pm Jun 12, 2009 8:23pm
I have been following this thread for the past couple days and decided to whip up my own EA for EUR/USD, only I added a couple more indicators (AO, ADX, and PSAR). After tweaking things a bit I got excellent results - 93% profit trades and a profit factor of 11.28! Thanks Tony!
Attached Image (click to enlarge)
Click to Enlarge Name: DoubleBars.gif Size: 7 KB
  • #186
  • Jun 13, 2009 12:05am Jun 13, 2009 12:05am
Why not post your Ea so that we too can enjoy 93% profit as you are doing. This is the essence of brotherhood.
  • #187
  • Jun 13, 2009 12:13am Jun 13, 2009 12:13am
Yea right!!why don't you put the EA so we can try to 'foretest'....
  • #188
  • Jun 13, 2009 7:54am Jun 13, 2009 7:54am
My suggestion is to make your own EA, it wasn't very hard for me to do (and by no means am I a programming expert).

Adding PSAR seemed to help DRAMATICALLY!

I was playing around last night and optimal trading time is from 4 AM to 3 PM EST - this leads to 90-95% profit trades. When I trade all hours it seems to get 80-85% (which leads to a shite-load of money for some months, but for a few it leads to huge losses).
  • #189
  • Jun 13, 2009 8:39am Jun 13, 2009 8:39am
Quoting smurf
I did +37 for the day.
which pairs?plz
Persian Gulf forever
  • #190
  • Jun 13, 2009 3:27pm Jun 13, 2009 3:27pm
@Danoid

Then why post at all when you've already written an EA? EGO?

This is a Forum for traders to share/learn. Neither of which was achieved by your post. Doesn't make sense. Waste of space and time. Silly.


Quoting Danoid
My suggestion is to make your own EA .......
  • #191
  • Jun 13, 2009 7:26pm Jun 13, 2009 7:26pm
Not so...I was trying to add my insights to improve the system (and to show that an EA can indeed be implemented).

Every day I discover something new that improves the system, today I discovered that two EMA's with a period of 12 on high and low settings combined with the close of the previous candle improves the number of profit trades.
  • #192
  • Jun 13, 2009 8:36pm Jun 13, 2009 8:36pm
in reference to the EA....I am not a programmer at all...so i used the indicator for suggested entry points..which was generously posted by tony D.....i found that to be useful....i would like to see Danoid's EA....

congrats to you for making an EA that shows that kind of promise....I will agree that this is for learning and sharing information...any insite on how you developed it would be great...

regards
  • #193
  • Jun 13, 2009 10:46pm Jun 13, 2009 10:46pm
Quoting Danoid
Not so...I was trying to add my insights to improve the system (and to show that an EA can indeed be implemented).

Every day I discover something new that improves the system, today I discovered that two EMA's with a period of 12 on high and low settings combined with the close of the previous candle improves the number of profit trades.
hiD, how do you mean it's combined?
thankyou
  • #194
  • Jun 14, 2009 2:00am Jun 14, 2009 2:00am
ave amplitude, ranges
Attached Image
Attached File(s)
File Type: mq4 Amplitude_NBarsAvg.mq4   4 KB | 639 downloads
File Type: mq4 Range_v1Osc.mq4   3 KB | 566 downloads
File Type: mq4 Price Range Mod2.mq4   3 KB | 623 downloads
File Type: mq4 Price_Range_HLClMdz.mq4   3 KB | 623 downloads
File Type: mq4 Linear_Price_Bar_mtf.mq4   4 KB | 691 downloads
  • #195
  • Jun 14, 2009 3:40am Jun 14, 2009 3:40am
tony dtrader nice and simple system every newbie shud give try to it...

less complication=high confidence=better results.
  • #196
  • Jun 14, 2009 5:30am Jun 14, 2009 5:30am
have done some demo but can't seem to catch a winning trade.
when I look back at the charts, I see, okay there was a trade, but at the time I'm not catching it.
theory seems sound...
but actually working the system is a little allusive for me...
Just check every hour for a set up as the new candle is forming on the 1hr?
that's it?
thanks..
  • #197
  • Jun 14, 2009 5:41am Jun 14, 2009 5:41am
Yeah thats it u shud just look at the 1hr chart candles...but what i would like to add on is trend indicator.

Tudorgirl indicator can work on this strategy as well.

RED GO SHORT WITH NEW CANDLE,BLUE GO LONG WITH NEW CANDLE.
Attached File(s)
File Type: ex4 HG_0001a.ex4   3 KB | 1,004 downloads
  • #198
  • Jun 14, 2009 5:53am Jun 14, 2009 5:53am
Quoting fxxx
hiD, how do you mean it's combined?
thankyou
Look to see if the close of the previous candle is above/below the 12 high/low EMA.

What I found was that the EA worked best for the month of March. I think the reason why is because there was very little volatility during that month (this is when all the stock markets bottomed out). I tried fooling around with a volatility based indicator - the standard deviation envelope, but it didn't lead to any improvement. Then I played around with Tony's high/low MA idea by optimizing and the 12 high/low EMA worked best.

What I need is a volatility based indicator that is normalized. Something like ATR (only that indicator isn't normalized).
  • #199
  • Jun 14, 2009 6:13am Jun 14, 2009 6:13am
Let me rephrase that - I need a way of normalizing the ATR (since a non-native indicator will take a long time to optimize).
  • #200
  • Jun 14, 2009 8:22pm Jun 14, 2009 8:22pm
here's universal normalizer ind.
type-in exact ind filename, you want to normalize, param, ind. middle level - go
like: atr, 14, 0,0,0, midlevel- 0.007
macd, 12,26,9, mid:0;
rsi:14,0,0,50 etc
Attached Image
Attached File(s)
File Type: mq4 Normalizer_3param_ML.mq4   4 KB | 660 downloads
File Type: tpl norm atr.tpl   2 KB | 562 downloads
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