EUR/GBP Trendmagic System | Page 113 | Forex Factory

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EUR/GBP Trendmagic System

  • #2,241
  • Jun 17, 2009 10:09am Jun 17, 2009 10:09am
Quoting ozziedave
Hi Edge,

When price crosses the 14 are you looking for it to pull back to the 14 and enter on the bounce or do you just enter when prices crosses the 14. If so, do you wait for the candle to close when it crosses the 14?
This is fully discretionary. Trying to get a perfect entry will only cause a trader to suffer analysis paralysis. The pairs normally have enough ATR to them so as to allow you to simply get the entry as you see it pretty close.
  • #2,242
  • Jun 17, 2009 10:23am Jun 17, 2009 10:23am
Quoting gerry berard
Hi Edge. Is there any way way I can turn off the alert on the TF indicator?? It is driving me nuts.
click 'tools', then 'options' then 'events' and uncheck the 'enable' box.
  • #2,243
  • Jun 17, 2009 10:26am Jun 17, 2009 10:26am
Take a good look at this chart and really examine it carefully...It points out how PA levels can take ones trading to another level. Some are just looking at the indicators and pulling the trigger....I will post the chart then rest my case.

It is a 15m so I can get more on the post..You can almost trade just with these two indicators...

1. SweetSpot Gold
2. Murray Math Levels

I tried to put some little arrows on to help show PA at the Murrey Math Levels... After seeing these levels try and find PA that doesnt either support or resist at the SweetSpot Gold areas which automatically sets unobtrusive lines on your charts in increments of 25, or the Murrey Math levels. You can adjust the increments to anything you like but before you do examine the chart.

Now combining these Support and Resistance points with this system can be deadly accurate...including Stop losses and take profit areas.

I will attach the indicators and please let the forum know if they help you understand price action and increase you trading skills

Eegle
Attached Image (click to enlarge)
Click to Enlarge Name: GBP JUNE 17.jpg Size: 174 KB
Attached File(s)
File Type: mq4 Murrey_Math_Lines-3a.mq4   13 KB | 570 downloads
File Type: mq4 SweetSpotsGOLD.mq4   4 KB | 559 downloads
  • #2,244
  • Jun 17, 2009 10:37am Jun 17, 2009 10:37am
eegle: Can you post your indicators/method in a seperate part of the forum, Dont quite see what it has to do with this method?

its clouding up the thread mate. Thanks
  • #2,245
  • Jun 17, 2009 10:38am Jun 17, 2009 10:38am
Hi,

very good idea, I wish other which have taken this thread over with own indicators and systems etc would do the same.

PC

Quoting Jfx
I started a separate thread to post the indicators and template I'm using.
You can DL them here if you like.

http://www.forexfactory.com/showthre...91#post2809791

I hope Paulus and TG stop by, I am very inspired by all the hard work you and everyone else here has been doing, and see this as an extension of it, but since it's a bit different I realize it doesn't belong on this thread.

Cheers!
Less is more...
  • #2,246
  • Jun 17, 2009 10:40am Jun 17, 2009 10:40am
Hi all,
Sorry to be a pain but i am having trouble installing this. When i save it in my indicators folder i reload metatrader and it displays an error message then crashes. Has this happend to anyone else? any help would be really appreciated.

Many thanks to all

Joe
Quoting golden1
I am sure you have it.. there were only two, the second being posted on the 11th I believe.

Brian
  • #2,247
  • Jun 17, 2009 10:43am Jun 17, 2009 10:43am
A very good reason why I do not like to trade too late into a session. Already made goal for the day pretty early. This is where that greed factor can bite you right in the ass.

PA is all over the place and whipsaw is present everywhere.

Have place a TM on here so you can see that 3 or 4 pairs are FLAT. Is a very dangerous time to trade right now, especially on lower TF's.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.jpg Size: 204 KB
  • #2,248
  • Jun 17, 2009 10:56am Jun 17, 2009 10:56am
Quoting joewalker123
Hi all,
Sorry to be a pain but i am having trouble installing this. When i save it in my indicators folder i reload metatrader and it displays an error message then crashes. Has this happend to anyone else? any help would be really appreciated.

Many thanks to all

Joe
are you putting them into the experts>>indicators folder? (there is another indicators folder, they do not go in there)
Close MT4 then open Explorer and delete the ones you already installed.
Save the indicators to your experts>>indicators folder (or drag or copy them there). Then re-open MT4. Good Luck.
******************* I'd rather make money than be right.
  • #2,249
  • Jun 17, 2009 11:01am Jun 17, 2009 11:01am
Quoting Paulus
No this system is on Demo I have 3 live systems running

5min so far today same set up

-15+9-15 and currently long from 157.99 up as of now 124 pips

Paulus
carrying on with the long that was opened at 157.99 it was closed for 84 pips

We now have -15+9-15+84 the system then went short from 158.73 and is still short currently up 290 pips

The indicator that puts me in is clunky and I hope TG can rework the code to make it smoother

will update 1min in amin !

cheers

P
  • #2,250
  • Jun 17, 2009 11:09am Jun 17, 2009 11:09am
the 1min has had 35 trades in total was on 121 now on 279 pips and currently long from 155.83 at 16.58pm UK time

18 losers
17 winners

Average win 30.5
Average loser 13.6

cheers

paulus
  • #2,251
  • Jun 17, 2009 11:21am Jun 17, 2009 11:21am
Wow, it was hard. I traded eu, which moves mostly in channels, so it was not easy. The first trade was a loss of 13 pips (stop taken out), the second a profit of 22 pips. I had to do a lot of manual calculations to exit it with profit, but finally I got it, and happy. There is no better than real experience how this works.
The screenshot attached.
Thank you, Paulus, I learned a lot.
Lietuve
Attached Image (click to enlarge)
Click to Enlarge Name: magic trade birzelio 17 1.jpg Size: 85 KB
  • #2,252
  • Jun 17, 2009 11:34am Jun 17, 2009 11:34am
I don't habe the hang of this yet because I am not getting the above results. GY stopped out at -25 .. not sure how Paulus can stop out at -6 or -10 when the spread is 9 ... there must be something I am not seeing yet.
Then went with the EU .. bad choice .. it is jumping all over the place .. after several losses, finally got back to b/e.
When I tried to follow TM signals, it would always reverse on me, short .. long .. short .. long ... finally I did it the old fashioned way I am used to and got to b/e on a short.
In retrospect the problem was probably the bounciness of the pair .. this method is for trending pairs, is my understanding.
I'd love to be able to watch some of these traders trade live...
******************* I'd rather make money than be right.
  • #2,253
  • Jun 17, 2009 11:39am Jun 17, 2009 11:39am
That is a great idea. I am sure we would all learn a lot from that!
  • #2,254
  • Jun 17, 2009 11:52am Jun 17, 2009 11:52am
First of all, since this is my first post in this thread: Thanks to all the constructive contributers, especially to Paulus, TudorGirl and Edge!

I tried the different indicators today, result will not be suprising to you, I like it very much :-)

Still the alarm on FT annoyed my immediately, since it goes off after every candle. I repaired it, find it attached. If someone did it already, forget this post.

Swissly
Attached File(s)
File Type: mq4 Forex Trend fxfariz.mq4   3 KB | 685 downloads
  • #2,255
  • Jun 17, 2009 12:13pm Jun 17, 2009 12:13pm
Edgetrader,

How do you handle exits when scalping on 5 Min TF?

Thanks
  • #2,256
  • Jun 17, 2009 12:31pm Jun 17, 2009 12:31pm
Quoting Edgetrader
This is fully discretionary. Trying to get a perfect entry will only cause a trader to suffer analysis paralysis. The pairs normally have enough ATR to them so as to allow you to simply get the entry as you see it pretty close.

Hy Edge !

I sended to you a private message in wich I am asking almost the same thing. For me "fully discretionary" doesn't mean too much...
If you could answer to my PM so that we don't cluster the thread anymore.


Thx so much !
  • #2,257
  • Jun 17, 2009 12:36pm Jun 17, 2009 12:36pm
As you are finding out today, the time period to trade these plans are crucial!!!!!!!!!!

As mentioned long ago, the single best period to trade are 1 hour before London open until 2.5 hours or so after, and, 1 hour before U.S. open until 2.5 - 3 hours after.

That is more than sufficient time to trade depending on your domicile. The market simply must have enough participants in it to establish decent PA.

This has long been an issue in the Forex. It will continue for quite a while yet. You will get spurts of PA both before and after these period, however, how long do you want to sit there and risk the market exposure?????

The USDCHF has been in consolidation for around 3 hours now. EURUSD has been a bit better but still is range bound. AUDUSD and GBPUSD have had a slight upward bias and have had deeper oscillation necessary to trade with.

So, lessons for today from my point of view are:

1. Trade the plan in the direction of a dominant plan if present.

2. Trade ALL signals if PA is rangebound and keep stops tight.

3. Trade ONLY the times best suited through exhaustive research to provide decent trading opportunities.

Will give her a go again in the morning.

If still trading, you should be short USDCHF, and long EURUSD, AUDUSD and GBPUSD. All four trades should be at or close to +10's for you.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.jpg Size: 191 KB
  • #2,258
  • Jun 17, 2009 12:49pm Jun 17, 2009 12:49pm
If you did not get those four moves for +10 mentioned above, you are really struggling. Very easy there, just took forever to get to them.

Regards.
  • #2,259
  • Jun 17, 2009 12:52pm Jun 17, 2009 12:52pm
Quoting Edgetrader
As you are finding out today, the time period to trade these plans are crucial!!!!!!!!!!

...

If still trading, you should be short USDCHF, and long EURUSD, AUDUSD and GBPUSD. All four trades should be at or close to +10's for you.

Regards.
Hi Edgetrader
You post a lot of screenshots here, but I can not see HG_0001a_MTF indicator on them. Do you use it at all?
The Road appears under the steps of walking men...
  • #2,260
  • Jun 17, 2009 12:52pm Jun 17, 2009 12:52pm
Edge, your system is great but I would like to add one more rule--when you see the market consolidating on the 5 min charts, drop to the 1 min. There are still pips to be had there. I hate to sound repetitive but that timeframe keeps on working like the Energizer bunny. I'm gone for the next two days to the mountains of Colorado so I will not be here or even tracking the market. Good trading to everyone. I'll check in Monday to read about the massive pip gains you all got in my absence.
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