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EUR/GBP Trendmagic System

  • #1,981
  • Jun 15, 2009 11:19am Jun 15, 2009 11:19am
Tudor Girl

Congratulations on your first good news trading day. Same as me.

I trade the first 4 hours of ny session and EU only. Like you, I don't want
to get distracted. The system, as is, works so we oly need to follow it.
Discipline is your friend.

Looking forward to the rest of the week.
  • #1,982
  • Jun 15, 2009 11:23am Jun 15, 2009 11:23am
good day all..

Mr. Edge.

Is there any way to turn off the alert on FT?

Thx.

p.s : Thx P n TG n Edge n Notch n DIG n nisha n all contributor for the knowledge.

deeply grateful.
lurker extraordinaire
  • #1,983
  • Jun 15, 2009 11:28am Jun 15, 2009 11:28am
Question about your 10 pip scalping style. Do you wait for a close above or below the TM line or do you enter once it breaks?

Quoting Edgetrader
Agreed, I stand corrected and appreciate the clarification. It is indeed possible to trade the 1m profitably. Yet another choice for traders to explore.

As a predominantly Renko trader, I will confess that TF's have no bearing on how I trade as I simply follow PA.

Good point though 'Dawg'.

Regards.
  • #1,984
  • Jun 15, 2009 11:31am Jun 15, 2009 11:31am
Quoting mahawangsa
good day all..

Mr. Edge.

Is there any way to turn off the alert on FT?

Thx.

p.s : Thx P n TG n Edge n Notch n DIG n nisha n all contributor for the knowledge.

deeply grateful.
disable alert from mt/tool/option/event/alert
Patience is the keyword here...
  • #1,985
  • Jun 15, 2009 11:37am Jun 15, 2009 11:37am
Quoting mahawangsa
good day all..

Mr. Edge.

Is there any way to turn off the alert on FT?

Thx.

p.s : Thx P n TG n Edge n Notch n DIG n nisha n all contributor for the knowledge.

deeply grateful.
Yeah, you can change the code to add an option to turn it off.

Or, like I do. you simply mute your speaker to your platform.
  • #1,986
  • Jun 15, 2009 11:43am Jun 15, 2009 11:43am
thx Affandiz..

(last question b4 going back to lurker zone)

how bout the FT popups?

thx.
lurker extraordinaire
  • #1,987
  • Jun 15, 2009 11:44am Jun 15, 2009 11:44am
Thanks alot Edgetrader..keep up the good work .
Quoting Edgetrader
Hey DIG,

Scanning four (4) pairs will help with your boredom issue. Also, take a good look at the FT indi again. If at work, it at least has an audio alert that signals the change. Worth considering I suppose.

The 1m is super dangerous IMHO.

Regards.
  • #1,988
  • Jun 15, 2009 11:47am Jun 15, 2009 11:47am
Another question for you edge. You are using the TM line for stop loss when scalping on 5 minute. What if the TM is 20-30 pips away? Do you not enter a trade at that point since you are going for only ten pips? Thanks.

Quoting Edgetrader
Yeah, you can change the code to add an option to turn it off.

Or, like I do. you simply mute your speaker to your platform.
  • #1,989
  • Jun 15, 2009 11:47am Jun 15, 2009 11:47am
All,

Here edited version of Forex Trend. No pop ups and alert will distract your concentration especially when follow M1 chart.

Thanks and Good hunting

~profi~
Attached File(s)
File Type: mq4 Forex Trend fxfariz_AlertOff.mq4   3 KB | 1,187 downloads
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #1,990
  • Jun 15, 2009 11:51am Jun 15, 2009 11:51am
thx profi...ur da man..

back to the 1 min ... 10 pips at a time.
lurker extraordinaire
  • #1,991
  • Jun 15, 2009 11:52am Jun 15, 2009 11:52am
Quoting sirogreness
Another question for you edge. You are using the TM line for stop loss when scalping on 5 minute. What if the TM is 20-30 pips away? Do you not enter a trade at that point since you are going for only ten pips? Thanks.
TM is for trend.
As long as FT stays in confirming color as that of TM, I stick with the trade. There are times that PA will oscillate above and below TM while FT holds color.
  • #1,992
  • Jun 15, 2009 11:52am Jun 15, 2009 11:52am
I agree about the 1 min charts .. used properly you can eliminate the noise. Before finding the TM & other indicators in here I used a 1 min chart that consisted only of a 50 and 200 ma .. when price was above the 50 & 50 above the 200 and both slanting up, you go long when price pulls back to the 200. SL's can be tiny, profits can be consistent. Reverse the above for shorts. As long as you are consistent to the rules, it works and can keep you busy with 10-30 pip trades while longer term trades play out.
I learned this from a trader from Ethopia .. he says you stalk lions the same way. ( I assume he meant by waiting for the exact right moment to pounce....)

Quoting flyingdawg
Digitalis, I have been trying to succeed as a forex trader for 4 years and I had always heard over and over to stay away from the 1 min chart, that it is nothing but noise, so I did until the past few months. I stumbled across the Trend Magic indicator a couple of months ago and for some reason tried it on the 1 min charts, along with other timeframes. I, like you, just don't have the patience to stare at charts for hours with no action. It makes me do stupid things that cost me money. Based on intense study over the past 2 or 3 months, I am soundly...
******************* I'd rather make money than be right.
  • #1,993
  • Jun 15, 2009 11:56am Jun 15, 2009 11:56am
Quoting Edgetrader
TM is for trend.
As long as FT stays in confirming color as that of TM, I stick with the trade. There are times that PA will oscillate above and below TM while FT holds color.
In other words, TM is not a SL. Does not matter to me if PA is above or below TM whan a trade develops. Put a 14 MA 9linear weighted w/ weighted close) on your chart. You will see that as PA moves above and below the TM it will change color. Therefore, TM becomes the primer and FT the trigger.
  • #1,994
  • Jun 15, 2009 11:57am Jun 15, 2009 11:57am
Flyingdawg, I have sent you a PM also.

Quoting tex
Hello flyingdawg,

i just wanted to pm you but you have turned off your PMing. Please turn it on.

thanks,
tex
  • #1,995
  • Jun 15, 2009 12:09pm Jun 15, 2009 12:09pm
Quoting Edgetrader
Agreed, I stand corrected and appreciate the clarification. It is indeed possible to trade the 1m profitably. Yet another choice for traders to explore.

As a predominantly Renko trader, I will confess that TF's have no bearing on how I trade as I simply follow PA.

Good point though 'Dawg'.

Regards.
I have been trading the 1m chart for a long time now very profitably. What I do many times is take a preliminary signal from the 5m then switch over to the 1m for entrance and take profit usually at intervals of 25 on my chart. If you will notice price likes to go from these intervals that are very good for taking profit. As you see on the chart I have an indicator that puts lines across at intervals of 25...I can adjust it to 50 etc. These areas are many times as strong as any resistance out there.

I would never trade without these settings...I do not trade when price is not on or around one of these intervals....most of the time Pivot points are right on them. If a newbe or someone trading this system will learn to use Support and Resistance this system and modifications of it I think will be EXTREMELY profitable.

Just my 2 and one half wit sense
Eegle
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 1M.jpg Size: 123 KB
  • #1,996
  • Jun 15, 2009 12:19pm Jun 15, 2009 12:19pm
Could you attach the indicators you use on that chart?



Quoting eegle
I have been trading the 1m chart for a long time now very profitably. What I do many times is take a preliminary signal from the 5m then switch over to the 1m for entrance and take profit usually at intervals of 25 on my chart. If you will notice price likes to go from these intervals that are very good for taking profit. As you see on the chart I have an indicator that puts lines across at intervals of 25...I can adjust it to 50 etc. These areas are many times as strong as any resistance out there.

I would never trade without these settings...I...
******************* I'd rather make money than be right.
  • #1,997
  • Jun 15, 2009 12:26pm Jun 15, 2009 12:26pm
Eegle,

Hi,

As I noticed you have added short time Ichimoku Kinko Hyo from THV strategy (bold blue lines up and down the candles) and some kind of moving average.
Is it 25 or 50 period moving average ?
Audaces fortuna iuvat !
  • #1,998
  • Jun 15, 2009 1:07pm Jun 15, 2009 1:07pm
I took two trades today using the original rules stated for using both the STF and MTFG indicator; candle opens above or below the TM line depending on the order type. I believe my stops were way too tight, both stopped out for a total of -45 pips. In all fairness I don't think this was a system problem, more like a trader problem. Had to set a TP of +10 both would have been winners. I am still undecided after a week or two of demo trading how I will continue to play this live. It should be noted today was the first day of live trading for me with this system. I did miss about 3 setups that would have gone in for bigger profits, but kids come before trading.

GBP/USD 1 B 1.63995 1.63727 -26.8 -2.68 0.00 6/15/2009 16:20 6/15/2009 16:45
GBP/USD 1 S 1.63431 1.63629 -19.8 -1.98 0.00 6/15/2009 12:50 6/15/2009 13:27
  • #1,999
  • Jun 15, 2009 1:40pm Jun 15, 2009 1:40pm
Hello guys, I've been watching this thread since few days and I think its very helpfull and motivating. Paulus thanks for showing us youre great system.TudorGirl You have done a fantastic job by creating those indicators - BIG THX to You and all who participate in this thread to make it better, easier and what most important more profitable. What I want to show is my conception of this system. Maybe it also brings some ideas into Youre heads. Best wishes to all! and have a nice pips!


Eeee I've made a mistake on my screenshot in line:
New bar opens below 10SMA/55EAM/TM. SORRY english isnt my primary language.
Attached Image (click to enlarge)
Click to Enlarge Name: TrendMagicbyGootson.jpg Size: 236 KB
  • #2,000
  • Jun 15, 2009 1:46pm Jun 15, 2009 1:46pm
Quoting chojnak
Eegle,

Hi,

As I noticed you have added short time Ichimoku Kinko Hyo from THV strategy (bold blue lines up and down the candles) and some kind of moving average.
Is it 25 or 50 period moving average ?
Yes that is exactly what it is-very helpful as a quick visual...
Again I like to take a signal from the 5m and then go down to the 1m to trade. I have attached another chart and just let a picture be worth 10,000 words. Instead of just jumping in a trade when the the indicators say go why not take a quick look at the visual S and R lines very quickly.

These lines speak for themselves and are as good as any indicator. You can trade them with no indicators really...but this method of Paulus with the wonderful help from TudorGirl and Edge and others make it a Phenomenal and oh-so-simple system--very visual...

I will attach the indicators...I have them automatically on every chart I ever trade....

Again I hope this helps someone as I'm no professional trader just trudging along like most folk here.

Eegle
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD IM-CHART 2.jpg Size: 136 KB
Attached File(s)
File Type: mq4 SweetSpotsGOLD.mq4   4 KB | 586 downloads
File Type: mq4 Live Charts Fib Pivots.mq4   17 KB | 617 downloads
File Type: ex4 THV3 Coral_THICK.ex4   16 KB | 636 downloads
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