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EUR/GBP Trendmagic System

  • #3,301
  • Jun 26, 2009 12:45pm Jun 26, 2009 12:45pm
Quoting tex
Here the next signals. Even IF u get in 3 candles later they are still good signals.. all realtime, no reloading or TF changing..
When I tried this set up I got many false signals. I would recommend to test it a while. I still think it doesn't work but maybe i'm wrong. In the end it's always a matter of the exit strategy and money management.
  • #3,302
  • Jun 26, 2009 12:47pm Jun 26, 2009 12:47pm
Quoting AndresOtero
could you please post the Stochastic Indicator or tell me which post before i can find it.

Sorry for my english.

Regards.
Here you are.
Attached File(s)
File Type: mq4 StochasticBars.mq4   2 KB | 630 downloads
  • #3,303
  • Edited 12:50pm Jun 26, 2009 12:49pm | Edited 12:50pm
Quoting sean007
Hi Edge
I've just set up my chart with your settings and have noticed that the candles look different. At first I assumed it was because I was using a different broker but I've just set it up again on IBFX with the same result. Any ideas? (I've highlighted where it's really noticable).
Also on thread #3296 where you gave your +5 plan and your +10 plan the settings you gave for the +5 was 14 WMA. I presume you meant +7 as this is what's showing on your charts
thanks
I use Heiken Ashi candles as opposed to the 'normal' candles you are showing.

Yeah, 7 WMA on the 5 pip plan.
  • #3,304
  • Jun 26, 2009 1:38pm Jun 26, 2009 1:38pm
I use Heiken Ashi candles as opposed to the 'normal' candles you are showing.

Yeah, 7 WMA on the 5 pip plan.

Thanks for that, all makes sense now.
Dream big, start small. Have it all
  • #3,305
  • Jun 26, 2009 2:05pm Jun 26, 2009 2:05pm
Quoting johnslye
Hello Anne,

I appreciate all you have done here. You mentioned an offline group that is trading off of 1 hour charts. Could I join or can I see what you are doing. Less stressful and successful trading is of great appeal to me. Those are 2 things that I have yet to experience.

Thanks
john
Check out #3053. TG is using just Price + Pivots + Vorticity on 1 hour charts.
15 min and 1 hour charts best for newbies imho.
Q
The Only Constant Is Change!
  • #3,306
  • Jun 26, 2009 2:36pm Jun 26, 2009 2:36pm
Hello

Listen this is such a great thread because some great methods of trading are being offered up by some really good people. The key is not be too rigid and learn to "adapt".... I pick up really good ideas and indicators etc from people who share their experiences...if I don't care for their input I just go to the next post.

Anyway please dont say that these indicators don't work because THEY DO!!! I'm posting a couple of simple charts to examine for yourselves.
People have expressed how fridays are bad and how this was a very choppy market (which I agree), but I'm telling you what we have learned on this thread will make money in any market with discernment and adaptability....

I said in my last post that I have traded on just using the stochastic indicator alone and almost nothing else...taking trades following trend and on the pullbacks...I am showing you this just to manifest how powerful these indicators can be when used with discretion.

Let me explain...first I put a HMA-36 moving average set to 200...which shows me the trend---it is blue so I am only taking trades heading upward-long trades...I disregard the short trades.

With nothing else, when the stochastic bar indicator turned blue you can see just going in when it turned blue made you at least 10pips, the amount Edge has been teaching us to take for consistent profits.

I just traded at the time I trade NY trading time up until I think 12:30 EST.
There were 7 trades triggered as you will see on the charts, the green lines showing long trades. 6 were good for at least 10p.

One of the trades that was triggered was no good but I didn't enter because of one of my checks and balances that you will see on chart two. You will see in chart two there is a red X on the line. This is a bad trade I didn't enter.
I bring up along side my 5m chart a 1m chart before I jump in a trade. It can save you from a bad trade..you will see how this works on chart 2.

Again see for yourselves...please dont sell these indicators short just learn to USE them correctly.

I did not enter all these trades myself but only the ones with my setups and confirmation indicators. But look closely, using nothing but the stoch bar indicator what it did. Now adding the confirmation trading plans can really make powerful traders here.

Eegle
Greg D
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  • #3,307
  • Jun 26, 2009 3:04pm Jun 26, 2009 3:04pm
Quoting Edgetrader
You simply have to TRY to miss these longs.
Edge,
Can you post your template please?
  • #3,308
  • Jun 26, 2009 3:49pm Jun 26, 2009 3:49pm
Quoting Edgetrader
I use Heiken Ashi candles as opposed to the 'normal' candles you are showing.

Yeah, 7 WMA on the 5 pip plan.
I am silent user of your +10s. Even on friday I am +80 on G/U. I only trade G/U.

I am thankful to you, Paulus and TG
Make money Not pips
  • #3,309
  • Jun 26, 2009 4:26pm Jun 26, 2009 4:26pm
Hey Edge:
I would hate to be right.
I was backtesting in some hours I trade, and I found out that following your rules I got a -80 (8 out of 9 trades were -10).
There are good trades before and after with a 50/50 ratio, but I'm curious about this day in particular.
I think one of the reasons people scalp is because of the immediate retribution, so systems with a 75/25 ratio work fine.
Yes, I know that systems with a 99/1 win ratio can have 100 losses in a row. However I've seen your posts and I've never seen less than 75%
Thanks.
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  • #3,310
  • Jun 26, 2009 4:37pm Jun 26, 2009 4:37pm
Thanks all of you guys for encouraging words and good advice !!
I will continue to play with the +10 setup and lower my lotsize dramatically just to be free of panic and get a feel for this type of trading.

Also i might need a good indicator showing HA-candles in Metatrader.
So exit in a loosing trade is when HA-candle retraces to WMA, NOT the price!!

Well i wonder how far this can go against us and if the more experienced guys have a hard stop in place for the worst case. I couldnīt watch a trade going to -40 while hoping to get +10.... maybe iīll get there
  • #3,311
  • Jun 26, 2009 4:43pm Jun 26, 2009 4:43pm
Quoting Quantum4x
Hey Edge:
I would hate to be right.
I was backtesting in some hours I trade, and I found out that following your rules I got a -80 (8 out of 9 trades were -10).
There are good trades before and after with a 50/50 ratio, but I'm curious about this day in particular.
I think one of the reasons people scalp is because of the immediate retribution, so systems with a 75/25 ratio work fine.
Yes, I know that systems with a 99/1 win ratio can have 100 losses in a row. However I've seen your posts and I've never seen less than 75%
Thanks.
Don't forget the spread costs.
  • #3,312
  • Jun 26, 2009 4:50pm Jun 26, 2009 4:50pm
Hi all,

I'm still in the process of reading this thread. Forgive me if this has been answered before.

But does the Vorticity Indicator Repaint/Look Back on the chart?
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  • #3,313
  • Jun 26, 2009 5:05pm Jun 26, 2009 5:05pm
Quoting Musashi
Hi all,

I'm still in the process of reading this thread. Forgive me if this has been answered before.

But does the Vorticity Indicator Repaint/Look Back on the chart?
Yes it repaints up to 3 candles in realtime. And when u change the TF or shut down MT4 the past signals repaint too.But u can use it to trade, look at my screens of today trading session.
  • #3,314
  • Jun 26, 2009 5:06pm Jun 26, 2009 5:06pm
I totally agree with what this person is saying, thanks for
the contribution. Definitely agreed.. I do the same and also
another rule for me that would exclude that bad trade
you show is I never, ever enter after a big candle.

I like HA bars but got myself used to usual candles
and put HA bars in a window ie indicator panel
under the chart like any other indicator. If anyone
wants it I can post it here and then you can have
regular candle bars on your chart or a bar chart if you
prefer and have the HA candle effect still on your chart
so it doesnt cover price action. I personally think that
is good for newbies and I have been doing it for a long
long time.. I want to make sure I dont miss that the
last candle was much bigger than the last 20 twenty candle
and be tricked into entering.

Big candles almost always come at the end of a move or
as a whipsaw only.. sure they come at the beginning
too, but the numbers show more times at the end of
moves and with a crazy spike against the trend
not starting a new trend.

Just another thing to easily reduce bad trades.

Brian

Quoting eegle
Hello

Listen this is such a great thread because some great methods of trading are being offered up by some really good people. The key is not be too rigid and learn to "adapt".......
  • #3,315
  • Jun 26, 2009 5:23pm Jun 26, 2009 5:23pm
Hi 4xStar - just logged on (AM in Oz). I have indeed suggested to FF admin that such a search weapon be considered.
  • #3,316
  • Jun 26, 2009 5:29pm Jun 26, 2009 5:29pm
Quantum, I saw the same thing that you're mentioning in this post on my chart using the same indicators. I've been trading the 5 minute on a small live account, and can't match the success of some others here. There's really no way to back on a chart with these indicators because they don't resemble what you were looking at in real time.
With the 4 pip spread in and out, I have gotten some 10 pip wins for sure. Seems the ones I get 10 pips on always happen to go 50 or a hundred more. My entries are as close as possible to where they should be, but there are too many times when, as soon as I enter almost, it turns and I'm down 20-25 or 30 pips. If I set the stop that high, it's a lousy risk to reward. If I use just a 10 pip stop, it doesn't leave enough room.
From what some others have said, I'm not alone in this. I do trade the higher time frames, and may move to at least the 30 minute, as my success with the 5 minute lkeaves much to be desired.
Quoting Quantum4x
Hey Edge:
I would hate to be right.
I was backtesting in some hours I trade, and I found out that following your rules I got a -80 (8 out of 9 trades were -10).
There are good trades before and after with a 50/50 ratio, but I'm curious about this day in particular.
I think one of the reasons people scalp is because of the immediate retribution, so systems with a 75/25 ratio work fine.
Yes, I know that systems with a 99/1 win ratio can have 100 losses in a row. However I've seen your posts and I've never seen less than 75%
Thanks.
  • #3,317
  • Jun 26, 2009 5:39pm Jun 26, 2009 5:39pm
I think Edge has done a wonderful job and I'm sure his system works for him. He has helped me via PM's and has exposed his rules here expecting nothing in return.
This is why I'd like to say that my post just looks to find situations in which the system can be improved, and never as a criticism or similar.

When you talk with a newbie, and you say "the same system can work for a person and not for another" he always thinks "This guy... tell it to me straight: you don't want to share your system"
But after years we realize that the statement is true.
This is why I'd like to understand Edge's way of seing things so I can understand his method and use it, not to criticize in any way.

Quoting paradoxical
Quantum, I saw the same thing that you're mentioning in this post on my chart using the same indicators. I've been trading the 5 minute on a small live account, and can't match the success of some others here. There's really no way to back on a chart with these indicators because they don't resemble what you were looking at in real time.
With the 4 pip spread in and out, I have gotten some 10 pip wins for sure. Seems the ones I get 10 pips on always happen to go 50 or a hundred more. My entries are as close as possible to where they should be, but...
  • #3,318
  • Edited 7:18pm Jun 26, 2009 6:41pm | Edited 7:18pm
Quoting eegle
Hello

Listen this is such a great thread because some great methods of trading are being offered up by some really good people. The key is not be too rigid and learn to "adapt".......
Hi Greg...

So on the 16:05 candle you wait until it's closed and then switch to 1M chart to see if the price action looks to go higher before you enter the market, is that correct? I also take it that you are looking at the slope of the MA to determine trend direction and even if the price is below the MA you will take a long position as long as the MA is sloped in the up direction?
  • #3,319
  • Jun 26, 2009 6:59pm Jun 26, 2009 6:59pm
Quoting DanFX
Thanks all of you guys for encouraging words and good advice !!
I will continue to play with the +10 setup and lower my lotsize dramatically just to be free of panic and get a feel for this type of trading.

Also i might need a good indicator showing HA-candles in Metatrader.
So exit in a loosing trade is when HA-candle retraces to WMA, NOT the price!!

Well i wonder how far this can go against us and if the more experienced guys have a hard stop in place for the worst case. I couldnīt watch a trade going to -40 while hoping to get +10.... maybe...
HI Dan, I use a hard stop of 20 if I am going to 10 .. I believe that is what Edge suggests as well. With a better than 70% success rate, you can afford to lose 20 for 10 gained and still come out ahead. With experience, the success rate should be well over 80%.

I also do not wait for the -20 if other factors indicate the trade is not going my way .. usual stop out is -10. I also try to take trades near pivot points or other support, I also check my 1 min chart as per those posted on page 218 (or thereabouts). I posted a couple of 1 min charts to show how I use the 50 and 200 ema to help determine where price is turning.

Glad you are using reduced lot size .. the trick is to learn to do this with no emotion attached, so down the road when you are trading humongous lot sizes you are still cool about it

We'll get there...

I'll attach a HA indicator for you. You need to put both in your experts>>indicators folder.
Attached File(s)
File Type: mq4 Heiken Ashi#.mq4   4 KB | 466 downloads
File Type: ex4 Heiken Ashi#.ex4   3 KB | 399 downloads
******************* I'd rather make money than be right.
  • #3,320
  • Jun 26, 2009 10:09pm Jun 26, 2009 10:09pm
First of all:

EDGE:
I like your color scheme and use it as well now.
It helps in taking the emotions out as in psychology red is associated with danger. The B/W charts are nicely neutral...

All Others:

The following is just MY opinion. I'm trading since around 8 years, have been reading on FF and another big Forex Forum hundreds of thousands of posts.
I was jumping from "the best" to "the only", had charts so full of indis that I had a constant headache and never got really successfull... not to say: I lost... as I refuse to trade on demo (has different data feeds and doesn't give the emotions)
But that was the money I had to pay to finally succeed.

First I started to trade pretty much naked, use my brain and watch PA... added some Fibonaccis and it went much better.
It's just when I understood that the ENTRIES are useless... the EXITS are what makes the difference, that I really started to earn consistently money in this game! And still do!

99% of all Forex threads are looking for the perfect moment to ENTER a trade. Believe me... you will never find this moment, except by chance.
But you can choose any indi or any timeframe or whatever you want to enter a trade... if you don't plan or realize a nice MM with a good controled exit you will never get any money out of Forex. Use the cross of a 50 EMA, use a Fractal, TD indis, Stochastics, HA.... flip a coin...whatever you like to enter, it doesn't matter really.
Most can just not control the greed. Me included.
That's why I'm trading since 3 years with a trade-management EA (you choose the one you like) and once I have my "perfect" entry I hit the key and then I go have a coffee, go swimming or read a book. The EA is doing the rest because I admit ... I'm unable to exit my trades at the right moment. But I may be one of the few in these forums making a consistent income with my trades.

Forgive me if that's maybe an out-of-thread post... the entries here either from the first post or the ones from Edge are great ways to enter anyway.
(See my setup attached below)

Take care guys and make heaps of pips next week!
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Click to Enlarge Name: dxtrade.gif Size: 19 KB
"The only successful substitute for brains is silence."
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