EUR/GBP Trendmagic System

Nice addition to the arsenal Paulus. I have been using stochs with this system on 1 minute charts to get 12 point bursts in price. Looking over it at a backtest it looks like an awesome tool with a nice hit rate in conjunction with the system. Does anyone know if it repaints or is it fully anchored? Thanks.

HI CCE

I LIKE YOUR CHARts, can you put on Trix indicator ???? thanks!

This was posted (and written by) Doug Zalesky on his Guppy Trading thread here in 2007.

It's one of the most concise guides I've read on trading discipline, so I wanted to share it with everyone here.

If you haven't had the opportunity to read it yet, it's really wonderful.

Interesting to see so many individuals quickly ascertaining the fact that, regardless of how good a trading plan is perceived to be, without the mental discipline needed to trade such all efforts will be futile!

Paul himself has stated many times in the past that he trades for 30 - 50 pips daily and is content at that level. While he has been doing yeoman like work on the 1m beast trading, it is my opinion that very few traders will be in a financial position to attempt to enter that particular arena.

Let us not forget that much of Paul's previous work centers on more manageable currency pairs.

Throughout the years, many books have been written outlining the various authors views and beliefs regarding trading. Yeah, some old adages remain such as 'trend is your friend', 'plan your trade and trade your plan', and many others.

Regardless of your on beliefs, it will ultimately come down to two things.

1. Can you be disciplined enough to trade your plan without fail as the days and weeks go by? (Still jumping from plan to plan?)

2. Can you become emotionally detached from each trade or does the thought of MONEY enter your head every time you make a trade?

I think that there is some work to be done in these regards on this thread. The trading plan itself has rapidly evolved into one that offers two separate styles the opportunity to succeed. As such, I think that the following 'plan' should be immediately integrated into your efforts and focused on for the next week. Lets see if you are up to the task and can challenge yourself to be a competent trader.

There are a couple of postings recently that corroborate that which you have been informed of. Those are, time to trade, and discipline to trade your method.

That said, lets find out where you are during the next week. Besides, this exercise will ascertain if there are some mechanical trading issues within you that need addressed. If you do not know its broke, then how can you fix it.

1. - Pick a trading plan for the week and trade it without fail.

2. - Trade only an appropriate time for such. Twelve hours is a bit much in a day so stop doing such.

3. - Pick two pairs that you can actually stick with when you plan to trade for real.

4. - Set a GOAL! That is, are you going after 30 pips, 100, 500? Again, try to be realistic here. You certainly are not going to live trade a $5k account with a goal of 500 pips a day. Check the ego at the door.

5. - Use only two or three indicators and stop looking for others. There are sufficient indi's available already to begin this exercise. If you cannot find good setups with those already provided, you may really want to examine your reasoning for even attempting to trade the Forex.

6. - If possible, trade with real money. It does not matter the amount, but instead will start you on the process of transitioning from play time to real time. It is the single worst demon you will battle, so put your armor on and man up here. Lets get into the arena and do battle.

"CRY HAVOC AND LET LOOSE THE DOGS OF WAR". Make no mistake, there are enough economic issues confronting all of us, regardless of country claimed, to get your attention. Even worse, not everyone in the world today is your friend. There are actually some that do indeed bode you ill will, and your family also.

They look at the markets as their enemy. The markets represent capitalism, and there are quite a few people who despise that. The world is already considerably different than years past. These next few will be of considerable challenge to many of us. It is always going to be about the MONEY. I believe you will be better off having some than having none. This ain't Star Trek and money is still the driving force of ALL economic activity.

Trading is no game, it is a weapon you can use to survive and potentially prosper. Harness just a portion of its power and you will do very well. Remember, 'The enemy (capitalism) of my enemy (those who want world control through economic strife) is my friend'.

He who has rules as they say. Lets go get a piece of the pie together. This is the only thread I am involved in and it is a pleasure to see so many busting their butts to believe and achieve. Glad to be of some small assistance in any way I can. I see and feel a bit of camaraderie developing here and it is great to see people from all across the globe contributing and joining together in a common cause.

Again, take a few minutes on Sunday to start the internal challenge set forth to you. Time is the single most precious commodity there is. You can never get it back once it is gone. Do not waste any more of it.

Highest regards to All !!!!!

Hi Jim,

I watch 4 pairs. EU, GU, EG and UC

as you may know UC and EU work directly opposite so I add UC as bonus when I am doing buy on EU I do sell on UC and vice versa

I trade from london open to mid us session, the system will deliver the breakouts into your hands pronto


kos

same problem...emotions...discipline

Edge,

Very well said. I've been following and lurking in this thread, since inception. Not contributed much, because I don't want to clutter the thread with additional and different info, as the wishes of the thread originators.

But had to give a http://www.forexfactory.com/images/icons/icon14.gif to edge for his most recent post, and also his efforts in making all better traders.

Patience and discipline are the two biggest factors that will give a trader an edge.

Trading is your business. Have a business plan and stick to it.

Happy pipping to all.

Cheers,
K.

Hi Edge,

I am sure you have already gone through this in previous posts and would ask that you look at the eurgbp on friday (the attached chart).

Can you advise, which would have been your entry and exit points.

Although I traded this and had some success, I believe I may have left a couple of pips on the table.

Cheers,


Darryl

Hello!

Good results this week trading from 5 gmt untill 9 gmt, pairs used were A/U, E/U & G/U I have been setting a take profit of 40 pips with a stop of 20 pips moving stop to breakeven after 20 pips profit is made

GBP/USD 5 profit 2 stopped out 2 breakeven
EUR/USD 0 profit 1 stopped out 1 breakeven
AUD/USD 0 profit 0 stopped out 1 breakeven

This was using the Trendmagic and HG MTF, Very happy with how thats going ... just trading the market at the right time not all the time! I have great trades with a diff. system on longer timeframes but have always made tough going on the 5 min. will keep plugging away... keep up the good work people

Bob

Hi Paulus. I will have a (maybe) stupid question. Can you repeat me your rules for entry/exits with this M1 scalping strategy? I would like to try it, but I cannot find rules. Perhaps I overlooked it, but is hard to find anything in thread. I was read to post approx. 2450, and continuing (I wasn't here about 3 days) Thanks.

ind:

trendmagic __(supertrend(cci50)
hg0001a ___(macdcci 144,233cci50 )
hg0001a_mtf ___(4tf_cci50)
Hydro Vorticity __(SolarWind(8)

except macdcci - all repaint

Hi Horrigan!

The 1min set up hasn´t been posted yet.

:-)

[font=Verdana] how did you fixed this problem?... HG_0001a_MTF.ex4 repaints badly ...
(repaints on current (0) tf)

TudorGirl, why you keep telling HG_0001a (stf) is macd, tm(cci )& LRSI
when it's not true - Lagueree not even close there...
data - macd cci only, w/o lrsi, + look on the chart and tell - how ""fuzzy" its weighted? 0?

HG_0001a macd and cci50 only
HG_0001a_MTF - it's only cci50 (only renamed forexfreedom)

Another frustraded trader and person that instead of trying to improve things.........just pass the time trying to destroy others efforts.

PR

Before I answer questions I want to draw a parallel with trading and my time in the Royal Marine Commando Reserve

The regular RM takes from its merge budget a certain amount of cash and uses this to train reserve men to the same standards as their regular counter parts. We are trained by regular serving Commandos at specific locations around the Uk for me this was
Old Jamaica Road London, in view of Tower Bridge.

A small insight into that world.

I joined and was placed in ‘holding troop’ this is designed to get you fit enough to hopefully pass the week end selection. If you do you then have 2 years of training and fitness to get you to the level required to pass the Commando tests and get awarded the Green Beret…The regulars take 9months.

5.30am at deal Nov 17th it was very cold raining and the sea was grey icy and rough, we were lined up and ran down to the sea and instructed when the PTI ‘blows his whistle’ to strip off naked and run straight into the sea.

Any one not doing so was binned..at that time in the event of war the RM had to protect the right hand flank of NATO which was Norway…hence any one not able to with stand cold or force them selves into such a position is of no use.

After 10 mins the whistle was blown again and out we ran to dry off and get dressed in 2minutes after that any one not dressed goes back in with what they have on.

The week end was just an endless series of tests laughs and bouts of throwing up.

If you pass Phase 1 starts ,if you get through that phase 2 and then the commando tests.I was running twice a day 4 gym sessions a week and swimming, I over trained didn’t eat right and damaged my body..I was burning 7000 calories a day and only eating 4000 this came to light when I ended up in Hospital.


Here is a link

Trading and the RMR for me are very similar its not the body you need worry about work hard that will take care of its self ( if its fed right ) it’s the mind, being fit will not get you through the courses you also need the correct mental attitude.

Ghandi once said

‘ Strength does not come from physical capacity it comes from an indomitable will’

get an edge conquer the mind have a trading plan ..you will be successful,deviate from any 1 of the 3 and you fail.

Do the RM pay insane amount of salary ?

hehe

Nope as a reservist you get the same as the regs dont know the exact wages now but a NCO would get around 15-20k a year...not a lot !

Mary4X

I stopped I drank I thought

Tudor Girl

Another link to the RM at the end of the endurance course there is a poster on a tree
‘Its only pain 500yards to go’... like trading it hurts when you lose but ignore it and carry on as long as the plan is still it tact........


Sirogreness

The indy doesn’t repaint put a stoch on your chart and check

Edge

Excellent words of wisdom as per usual you are the guiding had ..the chairman


Mima

Black white .. signal no signal… no grey .


Your sitting at the lights their red ..you dont go on amber you go on green


Horrigan

Still on test and demo nothing has been released yet

Fxxx

Take a chill pill none of this matters what works matters
What makes money matters.

P

this method look like very good!

one question, we can use in 4h chart?