EUR/GBP Trendmagic System | Page 149 | Forex Factory

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EUR/GBP Trendmagic System

  • #2,961
  • Jun 24, 2009 9:55am Jun 24, 2009 9:55am
Quoting Gleneagles
1) Not every trade will automatically work
2) The market is in limbo before FOMC with low volatility
3) Using 15 pips stop on GBPJPY means you will be stopped out on most trades
4) GBPJPY is in a range, draw horizontal lines on highs and lows
5) You entered in the middle of the range
6) If you want to test the concept, don`t trade now or pick another pair
I know it....but i thought that this system was like a "black box"...but as all systems trader has to use his mind!
Tnx
  • #2,962
  • Jun 24, 2009 9:55am Jun 24, 2009 9:55am
Quoting metatsock
Hit SL -15pips

Am i wrong in something????

On G/J i dont use SL instead i put hedge where normally would be SL ....besides 15pip for GJ is way to small.
  • #2,963
  • Jun 24, 2009 10:01am Jun 24, 2009 10:01am
Quoting metatsock
I know it....but i thought that this system was like a "black box"...but as all systems trader has to use his mind!
Tnx

There is no such thing as a black box that works in every market. Look at the front page of FF. There are major news announcements up and down the board except for the EUR and JPY. I was able to pull 26 pips out of the EUR/JPY without an issue, but it was not a set and forget trade, especially on low timeframes. Any sucessful trader will tell you that no matter how good the indicators, you will have losing trades in any system. If you want to trade markets that you can set and forget, try stocks, forex is not that market you want to be in.
  • #2,964
  • Jun 24, 2009 10:02am Jun 24, 2009 10:02am
Quoting metatsock
i followed rules...Sl is to be set at previous flat line of TM....
I'm a bit confused...
From post #2613 regarding GBPJPY.

Hideous monster!!!!

Dynamically honed ability to trap and skin even the best traders, is adept at luring unsuspecting traders into 'trend' trading by providing 100 pips or more runs as easily as a EURUSD provided 10 pip runs.

Eats trading capital as a child eats candy, has absolutely no conscience. Feels neither sorrow or remorse, steadfastly refuses to send flowers to traders funerals, laughs at misery inflicted and hunger is at times insatiable.

Rivals NOTHING within the Forex trading arena!!! Is respectfully referred to as the 'BEAST' and is to be approached with MINIMUM account action.

Movement is of such rapidness and velocity as to leave a trader breathless.

Can give a +50 and take it to a -50 in seconds. ARRRRGGGHHH!!!

Pledge of admiration and respect;

"I will strive to avoid confronting the beast,

and shield my harvest from his feast.

Should i falter and wander into his domain,

I pray the god's diminish my pain.

For a trader am I and on this day,

I strive to gain wealth and avoid being PREY"
  • #2,965
  • Jun 24, 2009 10:04am Jun 24, 2009 10:04am
Quoting DETrader
There is no such thing as a black box that works in every market. Look at the front page of FF. There are major news announcements up and down the board except for the EUR and JPY. I was able to pull 26 pips out of the EUR/JPY without an issue, but it was not a set and forget trade, especially on low timeframes. Any sucessful trader will tell you that no matter how good the indicators, you will have losing trades in any system. If you want to trade markets that you can set and forget, try stocks, forex is not that market you want to...
Words to live by. Many have TRIED! All have FAILED! You have to do the work.

Regards.
  • #2,966
  • Jun 24, 2009 10:04am Jun 24, 2009 10:04am
Quoting Edgetrader
From post #2613 regarding GBPJPY.

Hideous monster!!!!

Dynamically honed ability to trap and skin even the best traders, is adept at luring unsuspecting traders into 'trend' trading by providing 100 pips or more runs as easily as a EURUSD provided 10 pip runs.

Eats trading capital as a child eats candy, has absolutely no conscience. Feels neither sorrow or remorse, steadfastly refuses to send flowers to traders funerals, laughs at misery inflicted and hunger is at times insatiable.

Rivals NOTHING within the Forex trading arena!!!...
i agree
  • #2,967
  • Jun 24, 2009 10:05am Jun 24, 2009 10:05am
Quoting sirogreness
What is the correct way to interpret this indie? Is it valuable on lower time frames?

Renko charts are not an indicator they are a different format of price charts.
(the posted indie is just a cheat way to see the renko chart)
Google the term for info, although there is not a wealth that I found but enough to get a person started, I don't want to add more clutter here, it's bad enough already.
I just felt for the type of trading going on here it can possibly be of some value.

p.s. now it's time to do an install of Windows 7 on my desktop, lol, you may never see me again...
  • #2,968
  • Jun 24, 2009 10:21am Jun 24, 2009 10:21am
Quoting sirogreness
What is the correct way to interpret this indie? Is it valuable on lower time frames?
Big point in the Renko is that it is not associated to TF trading. It moves and builds its 'blocks' based completely upon PA alone.

As 'Tommy' has shown, 5 tic blocks are very good for scalping. PA is similar to that of a candlestick chart, only the 'signals' will be generated a bit quicker. Therefore, a trader is afforded an opportunity to be in and out of a trade before a candlestick trader 100% of the time when utilizing comparable indicators.

This has been touched on in this thread a few times. It (Renko) is simply another tool a trader can add to the box once they have ascertained definitively how they are going to trade a plan and can stick to it faithfully. Put another way, once a trader has mastered the plan via candlestick and is making consistently good trades, then Renko should be considered as both a natural progression and a reward for doing your homework.

Just another step in trading. Crawl, walk, run!!! (Natural Progression).

Regards.
  • #2,969
  • Jun 24, 2009 10:40am Jun 24, 2009 10:40am
hi Edge....
nice for 10 pips 1st live trade with this setup after 10days demo..
also thanks very much for P, anne and those who cont to this thread
Attached Image (click to enlarge)
Click to Enlarge Name: trade1.gif Size: 26 KB
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  • #2,970
  • Jun 24, 2009 10:42am Jun 24, 2009 10:42am
Hi, Anne. We're indebted to you (and Paulus) for the remarkable Indis ..... thank you.

Would you advise changing the the default settings for CCI (=50) ATR (=5) When using the TrendMagic Indicator on H1 (or higher) timeframe?

Richard.

Quoting TudorGirl
All,

I am really struggling with the M5/M1 system, but doing fine on the H1. I went short on EU at 1.4111 at 0900 GMT this morning and set TP=1.4007, 5 pips above the Daily Pivot (1.4002).

Just touched 1.4004 before bouncing. How's that for not wasting pips!

Anne
  • #2,971
  • Jun 24, 2009 11:01am Jun 24, 2009 11:01am
also took 10 pips here......
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
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  • #2,972
  • Jun 24, 2009 11:02am Jun 24, 2009 11:02am
Quoting TudorGirl
Hi Max

I use HV 2.0 on the H1, together with pivots. That's all. I didn't know there was a version 3 of HV?!?!

I don't look exactly like Natalie Dormer, but close enough in a poor light...

Anne
Hi Anne,

I attached both versions of the HV 2. Which one do you use or which one do you think works better?
Attached File(s)
File Type: ex4 TudorGirl_Vorticity_2 (2).ex4   3 KB | 452 downloads
File Type: ex4 TudorGirl_Vorticity_2.ex4   4 KB | 522 downloads
  • #2,973
  • Jun 24, 2009 11:10am Jun 24, 2009 11:10am
Quoting azrforex
also took 10 pips here......
Hi ,

would u mind to attach the indi and the template?

thanks in advance.

zu
  • #2,974
  • Jun 24, 2009 11:18am Jun 24, 2009 11:18am
Quoting azrforex
also took 10 pips here......
Very nice setups. Excellent trading op's.

Good work there. Just have to be patient with the PA.

Regards.
  • #2,975
  • Jun 24, 2009 11:19am Jun 24, 2009 11:19am
From this morning

The asian high holding things up a bit here but overall the 5min hasnt done bad

6+29-17+3+6 = 27 pips

And long from 157.25



which closed for 24 pips

6+29-17+3+6+24-4+4+1 = +52 and short now from 157.22

P
  • #2,976
  • Jun 24, 2009 11:23am Jun 24, 2009 11:23am
hi Zu ,....you can find it on post # 2738 edge posted it there.. quite easy to spot the trade ( at least for me )
cUcUaJiKOLA
  • #2,977
  • Jun 24, 2009 11:25am Jun 24, 2009 11:25am
Quoting azrforex
also took 10 pips here......
You are scalping m1 with this setup?
  • #2,978
  • Jun 24, 2009 11:28am Jun 24, 2009 11:28am
Quoting Edgetrader
Very nice setups. Excellent trading op's.

Good work there. Just have to be patient with the PA.

Regards.
Thanks for you kindness to share this method
cUcUaJiKOLA
  • #2,979
  • Jun 24, 2009 11:32am Jun 24, 2009 11:32am
Hi Paulus
thanks for the info. look like a good system.
thanks for sharing. i will try it.
  • #2,980
  • Jun 24, 2009 11:38am Jun 24, 2009 11:38am
done for today with +50
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 22 KB
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