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WPS system

  • #181
  • Edited 6:48pm Jun 14, 2009 4:40pm | Edited 6:48pm
SILVER TRADE

Silver Trade MUST have: Retracement from prevailing trend that was not significant enough to cause the signal color to change AND price must cross the stochastic 50 line in the opposite direction of the trend AND tick back in the direction of the trend. The candle BODY must correspond with the direction of the trade. This is a concept I learned from Paulus in his EOD thread although I've added some qualifiers. You MUST also have slope agreement of 20 SMA (the steeper the better).

Silver trades are HIGHER PROBABILITY if price dips to the top/bottom of the 5 Smooth price channel but does not close above/below it. Hidden divergence adds to the probability of the trade as does trading in the direction of the slope of the higher time frame.

I trade the Day and 4 Hour although I have used these concepts in the smaller time frames such as 15M.

I hope I haven't confused anyone so far. There are other aspects that I haven't shared yet, trying to keep it simple.

I am a believer in Multiple Time Frame approach. I usually have a profile with 3 time frames: the one I'm trading, the upper and lower time frames to get a better feel for what the pair is doing.

Note: actually the second trade is a GOLD not SILVER trade since the retracement caused the signal color to change.
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  • #182
  • Jun 16, 2009 7:57pm Jun 16, 2009 7:57pm
Hey Free

Check out this indicator (13RSI/8EMA) used in conjunction with your WPS Signal. Must be above/below 50 line. I'm using it with price closing above/below your Wonderful Stop Line (10 SMA Shift 2 Weighted Close).

Still hoping you will share how you are currently using your new signal.
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  • #183
  • Jun 17, 2009 4:46am Jun 17, 2009 4:46am
Please post this indicator

thanks

Brian

Quoting cha<br /> <br /> zbo 3071;2808065
Hey Free

Check out this indicator (13RSI/8EMA) used in conjunction with your WPS Signal. Must be above/below 50 line. I'm using it with price closing above/below your Wonderful Stop Line (10 SMA Shift 2 Weighted Close).

Still hoping you will share how you are currently using your new signal.
  • #184
  • Jun 17, 2009 2:25pm Jun 17, 2009 2:25pm
Quoting golden1
Please post this indicator

thanks

Brian
Hey Brian

The indicator is simply an 8 EMA overlaid a 13 RSI applied to previous indicator's data. The RSI has a 50 level.
  • #185
  • Jun 21, 2009 1:10pm Jun 21, 2009 1:10pm
Reminds me of the Fozzy method (RSI/MA)
$$$ Richrichie $$$
  • #186
  • Jun 21, 2009 1:58pm Jun 21, 2009 1:58pm
Quoting richrichie
Reminds me of the Fozzy method (RSI/MA)
Yes, similar to Fozzy but uses 13 RSI instead of 8 and uses the 50 level. Best traded in same direction as higher time frame
  • #187
  • Jun 29, 2009 8:54pm Jun 29, 2009 8:54pm
Quoting free84
many ask me for the new indic i finally decide to post for all enjoy i hope to have some return i repeat this indic dont repaint
Thanks for sharing your system, simple and reliable.

I downloaded your WPS singal into my MT4, but no singal came out. Have I done something wrong? My broker is IBFX.
  • #188
  • Jun 29, 2009 11:44pm Jun 29, 2009 11:44pm
Quoting wonderful
Thanks for sharing your system, simple and reliable.

I downloaded your WPS singal into my MT4, but no singal came out. Have I done something wrong? My broker is IBFX.
Me too, nothing happen on my chart after attaching the indi. I hope free84 will help and great thanks to him.
  • #189
  • Oct 13, 2009 1:15am Oct 13, 2009 1:15am
For beginner and those always loss in trade, this is trading system should follow and test out. Follow the creator instruction and we can add any indicator for support. without any additional indicator we still can trade using the crystall ball indi and wonderfull line indi..

Good luck....
  • #190
  • Edited 4:52am Oct 13, 2009 4:51am | Edited 4:52am
Well, very intresting system. Maybe not a full system but some kind of look at market and price's moving.

It's a trend fallower. What does means everybody know very well. You need a serious and strong trend, up or down, to profitable trading. When the market is ranging - it's hopeless to use trendfallower, you will lose your blood (deposit money) all the time.

I think the most important thing is to find a trending most time currency pair. Any idea? Maybe GBP/USD.

Best regards and thany you for a few new indicators.

Jarek
PS. Sorry for my english, its not my primary language.
Audaces fortuna iuvat !
  • #191
  • Oct 14, 2009 5:13am Oct 14, 2009 5:13am
Can you give some examples please? I back tested on this system and got good result. But real time testing is not. I am testing on Eur/Jpy.

Thanks.


Quoting anuarmu
For beginner and those always loss in trade, this is trading system should follow and test out. Follow the creator instruction and we can add any indicator for support. without any additional indicator we still can trade using the crystall ball indi and wonderfull line indi..

Good luck....
  • #192
  • Oct 15, 2009 1:16am Oct 15, 2009 1:16am
Quoting wonderful
I back tested on this system and got good result. But real time testing is not. I am testing on Eur/Jpy.

Thanks.
This is central problem with forex systems. Backtesting gives a good results, real trading and forward testing - not so good :/ I dont know a good solution for this problem but I thing its caused by market's ranging and whipsaws.

J.
Audaces fortuna iuvat !
  • #193
  • Oct 15, 2009 3:58am Oct 15, 2009 3:58am
Quoting wonderful
Can you give some examples please? I back tested on this system and got good result. But real time testing is not. I am testing on Eur/Jpy.

Thanks.
This system are to understand the major movement of the pair. I trade Eur/Jpy and GBP/USD. If you now the current trend you should stick you decision whether buy or sell from H4. For the entry I alway look at M15 or M30. Normally I will wait until the complete retracement.

Do not forget about the basic trading like candlestick, Trendline and angle.
For candlestick I am always look at engulf candlstick at H1 and H4.
Kindly ensure the trendline must show buy or sell before any entry.
Angle=45 deg for sell and 315 deg for buy....

for exit normally I am using fibo and double top and double bottom at H1 H4 and daily.

Lokk at EJ H4, the trend still long trend and the target price is double top at daily. 135.148.

Thank you..

happy trading
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  • #194
  • Oct 15, 2009 4:06am Oct 15, 2009 4:06am
Quoting chojnak
This is central problem with forex systems. Backtesting gives a good results, real trading and forward testing - not so good :/ I dont know a good solution for this problem but I thing its caused by market's ranging and whipsaws.

J.
I agree with you. That way we need using H4 and above in our trading to avoid market's ranging and whipsaws. Normally we can't stand if the retracement happen even we know the major trend. but in the end the market will follow the original trend. In the system we need to focus on the entry. Use any indicator to show the good entry. Like myself I'm using 5 openMA with cross alert to ensure the major trend in H4.

thank you.
  • #195
  • Oct 15, 2009 4:36am Oct 15, 2009 4:36am
exit are more dificult than entry now i use the TD sequential and i exit on the 8 or 9 bar the result are good i stay always with 4H
Attached Image (click to enlarge)
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  • #196
  • Oct 15, 2009 4:51am Oct 15, 2009 4:51am
It is good method. thank you.

Quoting free84
exit are more dificult than entry now i use the TD sequential and i exit on the 8 or 9 bar the result are good i stay always with 4H
  • #197
  • Oct 15, 2009 6:50pm Oct 15, 2009 6:50pm
Can you explain more detail on TD sequential please? Thanks.


Quoting free84
exit are more dificult than entry now i use the TD sequential and i exit on the 8 or 9 bar the result are good i stay always with 4H
  • #198
  • Edited 7:05pm Oct 15, 2009 6:54pm | Edited 7:05pm
Thank you very much.

I made a mistake at 0:00 on 14 Oct when I saw the bar turned to red and went under the wonderful line, I made the short at 132.33. But the trend just turned back up again. Can you show me how to avoid this mistake? Thanks.


Quoting anuarmu
This system are to understand the major movement of the pair. I trade Eur/Jpy and GBP/USD. If you now the current trend you should stick you decision whether buy or sell from H4. For the entry I alway look at M15 or M30. Normally I will wait until the complete retracement.

Do not forget about the basic trading like candlestick, Trendline and angle.
For candlestick I am always look at engulf candlstick at H1 and H4.
Kindly ensure the trendline must show buy or sell before any entry.
Angle=45 deg for sell and 315 deg for buy....

for exit normally...
  • #199
  • Edited 6:42am Oct 19, 2009 5:24am | Edited 6:42am
Quoting wonderful
Thank you very much.

I made a mistake at 0:00 on 14 Oct when I saw the bar turned to red and went under the wonderful line, I made the short at 132.33. But the trend just turned back up again. Can you show me how to avoid this mistake? Thanks.
As I told you ealier we need to combine with other technical..You should look at H1 TF. There are double bottom and need to wait until she break the DB. If you look higher TF the pair still in long trend. If you want more clear try to put indicator below and wait the signal come out at H4. Wait until candle complete before you enter new post..

Thank you.
Attached File(s)
File Type: ex4 5-8openEMA_Cross_Arrow_with_Alerts.ex4   5 KB | 482 downloads
File Type: mq4 5-8openEMA_Cross_Arrow_with_Alerts.mq4   4 KB | 492 downloads
  • #200
  • Oct 20, 2009 1:44am Oct 20, 2009 1:44am
Thank you very much for the advise.



Quoting anuarmu
As I told you ealier we need to combine with other technical..You should look at H1 TF. There are double bottom and need to wait until she break the DB. If you look higher TF the pair still in long trend. If you want more clear try to put indicator below and wait the signal come out at H4. Wait until candle complete before you enter new post..

Thank you.
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