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EUR/GBP Trendmagic System

  • #3,241
  • Jun 26, 2009 4:17am Jun 26, 2009 4:17am
It is a personal choice, I like the 60 30 15 5 setup because I am able to cover 2 major trading sessions.

I am a day trader and very seldom roll over positions.

It is now part of the trading systems I use going forward...

Today`s trades are not included in the results, but a quick payday and the rest of the day free, appeals to me.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #3,242
  • Jun 26, 2009 4:19am Jun 26, 2009 4:19am
Quoting Gleneagles
This is the first snapshot of the trades done over a period of 14 trading days.

Notes:

1)...
jesus thats freakin ridiculous
change the future, not the past
  • #3,243
  • Jun 26, 2009 4:34am Jun 26, 2009 4:34am
Quoting Gleneagles
This is the first snapshot of the trades done over a period of 14 trading days.

Notes:

1) Trades were done during LDN and NY session only
2) Fixed TP targets were used as opposed to trailing stop
3) No trades were placed within 30m of major news events
4) Some trades were duplicated because of TF sinc

Trend filters used on MTF : 1440 240 60 30

Example:

1440 240 60 15
240 60 15 5
60 30 15 5
30 15 5 1

Total trades: 237

GBP trades: 123

Winners: 103
Losers: 20

Average gain: 26 pips
Average loss: 32 pips

Nett gain: 2498 pips

GBPJPY...
Hi Glen

An absolutely stunning result! Thank you for taking the time to contribute so much to the thread and to analyse every trade for us.

This is a real inspiration to me and I think to others who are still struggling. Clearly, these tools in the hands of a master craftsman can work wonders.

Anne
  • #3,244
  • Jun 26, 2009 5:28am Jun 26, 2009 5:28am
Quoting Paulus
last 3 signal on 1min ..yes been here watching all the little bars moving up and down....so these are accurate I may not paost much during the day but dont forget Im a lion in the long grass...

Im not like all you mere cats ....lols
Hi,

I really have problems to understand how you take the entries. If I use the stochbars as a retracement indicator and I get a signal nearly every time the HV changes colors. When the trend continues after retracement the HV will paint back and it looks like the HV never changed colors.

Example: Downtrend-->retracement-->HV changes colors to blue-->red stochbar appears-->no entry-->downtrend continues--> HV becomes red-->repainting and it seems the HV was red the whole time
  • #3,245
  • Jun 26, 2009 5:28am Jun 26, 2009 5:28am
Hi all

EG 5min, original indies, original rules as in post #1

EG +26 pips

Reason for exit: 5mi HG_0001a flash blue, & I trade in SAFE MODE on Fridays

till Monday

kos
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John 3:16 - From THIS love no power on earth can me sever.
  • #3,246
  • Jun 26, 2009 5:34am Jun 26, 2009 5:34am
Quoting TudorGirl
Hi Glen

An absolutely stunning result! Thank you for taking the time to contribute so much to the thread and to analyse every trade for us.

This is a real inspiration to me and I think to others who are still struggling. Clearly, these tools in the hands of a master craftsman can work wonders.

Anne
Just a quick note while I wait for the gbpjpy to decide whether it will hit last TP or stop out the remainder.

This trading method is very easy to trade because you always have a plain and simple colour snapshot of what is happening in the market in the form of a MTF indi.

If you analyze the results closely, looking at highs and lows achieved by each trade, adjusting your TP to optimize, introducing a TS on " last lot " , you can probably extract another 20% plus from the trading results.

But hey.... bottom line is, at least try to trade it in a consistent and disciplined manner for 20-30 trades, keeping a simple screenshot for your trading record.

Jumping around from one " look-at-this-one " try-this" "this-works-great"
will not contribute much to your aspirations of becoming a consistently profitable trader.

There is simply an information overload facing traders and most cannot deal will it.

Anne, thank you for planting an idea into my head regarding the indi, it was a lot of work but worth every minute/pip of it.

If you can read and write and you are not totally colour-blind, you can make some pips using this method!!!!

Just stop trying to be brilliant and rather settle for being consistently average, in the end it wins the race by a handsome margin.

Have a great weekend all, I killed last leftover GBPJPY for +2, I was late on the entry...see I am not so smart after all.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #3,247
  • Jun 26, 2009 5:39am Jun 26, 2009 5:39am
Edge,
Can you please let me know which set up you are currently using? I know you have been using the trend forex, the trix, the 7 and 14 ma, and you were looking at the stoch bars?
What is currently working best for you? I want to work the method of 10 pip scalps?

Thanks Mate,

Ian
  • #3,248
  • Edited 6:37am Jun 26, 2009 5:45am | Edited 6:37am
Hi Gleneagles, I know you are posting info, but if you can
just answer three questions as you can, I greatly
appreciate it.

1. You are using the exact same setup for all time frames
obviously just changing the mtf settings?

2. I know you will break down in more detail but
what percentage of your trades where each time
frame? ie
5 in 50% 15 min 25% 1 hr 25% that basic idea

3. What is providing the big yellow and blue arrows on your chart?

thank you for your work, for yourself and this thread
getting such real use-able data!

Brian

Quoting Gleneagles
Just a quick note while I wait for the gbpjpy to decide whether it will hit last TP or stop out the remainder.

This trading method is very easy to trade because you always have a plain and simple colour snapshot of what is happening in the market in the form of a MTF indi.

If you analyze the results closely, looking at highs and lows achieved by each trade, adjusting your TP to optimize, introducing a TS on " last lot " , you can probably extract another 20% plus from the trading results.

But hey.... bottom line is, at least try to trade...
  • #3,249
  • Jun 26, 2009 6:49am Jun 26, 2009 6:49am
Paulus, do you take each trade as it comes, without regard to the direction of any larger trend direction?

Good to see you having a bit of fun.
  • #3,250
  • Jun 26, 2009 7:13am Jun 26, 2009 7:13am
Ok, I apologize, a total of four questions.

4. What is the dynamic support and resistance indicator
you are using on your charts and do you mind
posting here?

thanks

Brian

Quoting Gleneagles
It is a personal choice, I like the 60 30 15 5 setup because I am able to cover 2 major trading sessions.

I am a day trader and very seldom roll over positions.

It is now part of the trading systems I use going forward...

Today`s trades are not included in the results, but a quick payday and the rest of the day free, appeals to me.
  • #3,251
  • Jun 26, 2009 8:18am Jun 26, 2009 8:18am
Hello Gleneagles,

Can you please post entry / exit rules for the trades you've done bellow?

Thanks,
fxgg

Quoting Gleneagles
This is the first snapshot of the trades done over a period of 14 trading days.

Notes:

1)...
  • #3,252
  • Jun 26, 2009 8:19am Jun 26, 2009 8:19am
Tried the 10 plan the first time.... and guess what
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  • #3,253
  • Jun 26, 2009 8:56am Jun 26, 2009 8:56am
Quoting Paulus
Thanks Diditails

We need solid posts regarding wins losses,from what Ive read MT cannot back test a multy time frame set up so its down to forward testing

...
Paulus
This will my contribution in this magnificent thread.
1- I discovered what is obviously probably known by You that sometimes is worthy to risk not waiting for fullfill all the conditions, as shown on the attachment.

After I gained 50 pips, the conditions became SUPER, but... look what happened then. It would be a loosing trade.

2- the new indi TG HV can be used to hedge and open new positions inside existing ones, cause it shows the inner trends inside the mainstream. The only question is how long does it take

3- as probably Notch or Digitalis mentioned - IF after a nice ride up or down TM become flat it means that sth will happen here it's a good position after each ride to close a position. I treat is a my SL and never missed.

4- if TM becomes flat and the inner reversed trend starts being signaled by opposite coloured of TG HV indi, BUT the candles are so weak that they DO NOT BREAK through it (as shown on pic) - TM acts then as a kind of resistance, You can predict that the mainstream trend will be supported and if other signals will not change it will not be change.

Seond pic shows the same conditions.
Hope that my observations helps.
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  • #3,254
  • Jun 26, 2009 9:03am Jun 26, 2009 9:03am
Quoting DanFX
Tried the 10 plan the first time.... and guess what
The traders who wins on the long run, are those who manage their losses
  • #3,255
  • Jun 26, 2009 9:18am Jun 26, 2009 9:18am

I know that! Loosing is part of the buisiness . But after all we´re all looking to find a way to be on the winning side ... at least more often.

And it seems it´s getting more and more impossible for me

  • #3,256
  • Jun 26, 2009 9:21am Jun 26, 2009 9:21am
Quoting Edgetrader
So many indi combinations possible here.

If a trader is really interested in 5M trading, this is simply a treasure chest of relatively reliable indicator possibilities.

Have a few primers and triggers to chose from. Good options all!

Toughest part is overthinking the trade. A signal is a signal no matter which you choose here.

Still think a good primer (TGV2, PA moving across WMA, or TM set at 10/20) and a good trigger (Trix, FT, 7 WMA crossing 14 WMA or Stoch. Bars) is all that is needed.

TM, 14WMA, Heiken Ashi and TGV2 all act as trend...

Thankyou Edge, you are a very generous man. I wish you all the best in your trading.
  • #3,257
  • Jun 26, 2009 9:29am Jun 26, 2009 9:29am
thank you!!!
Quoting takeotw
It is Forex Trend fxfariz indicator.

TakeOTW
  • #3,258
  • Jun 26, 2009 9:35am Jun 26, 2009 9:35am
Quoting DanFX

I know that! Loosing is part of the buisiness . But after all we´re all looking to find a way to be on the winning side ... at least more often.





And it seems it´s getting more and more impossible for me

Hi Dan

Don't be discouraged! The scalping strategies that this thread is now focussed on are VERY VERY hard for an inexperienced trader to take profitably. I should know!! I have tried and lost. You need intense focus and a hair trigger on the trading buttons.

I am using all these ideas on the H1 along with a small "offline" group and it is much, much more successful and a LOT less stressful!

Anne
  • #3,259
  • Jun 26, 2009 9:37am Jun 26, 2009 9:37am
Could someone post the technique scalp indicator ?
  • #3,260
  • Jun 26, 2009 9:38am Jun 26, 2009 9:38am
Quoting Paulus
ok just closed as per the red down arrow put on by indy not me so no fudging

P
Hello Paulus, aka Lion King ,
Which indy is putting the arrow signals on your charts?
Can you share if you haven't already?
Thank you,...
Sorry if I missed it, still playing catch up on this thread....
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