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EUR/GBP Trendmagic System

  • #3,381
  • Jun 27, 2009 9:58pm Jun 27, 2009 9:58pm
Quoting Edgetrader
.... Further, it is CRITICAL to trade the correct time periods and stop wasting your valuable trading time trying to curve fit this plan into your own PREFERRED trading times.
You're absolutely right. The time periods are an important part of a system.
Me saying that the system doesn't work in those time frames and showing charts is actually the same as not including one of the indicators.

Thank you for your complete and accurate response, I'm sure a lot of your followers learned a LOT of that response. I certainly did.
  • #3,382
  • Jun 27, 2009 10:13pm Jun 27, 2009 10:13pm
Quoting Quantum4x
You're absolutely right. The time periods are an important part of a system.
Me saying that the system doesn't work in those time frames and showing charts is actually the same as not including one of the indicators.

Thank you for your complete and accurate response, I'm sure a lot of your followers learned a LOT of that response. I certainly did.
U r welcome and hope it was not to harsh. Trades at the appropriate time can yield very promising results.

Regards.
  • #3,383
  • Jun 27, 2009 10:23pm Jun 27, 2009 10:23pm
Quoting balle1973
Try this renko
I appreciate 'balle' offering this renko indi.

However, please refrain from using it as it is quite poor in both design and actual usage. Simply put it on a chart and compare to any chart I have posted (numerous) showing Renko setups and you will see the difference.

Renko charts are avalable at some higher end brokers on their platforms. You should anticipate that you will EVENTUALLY moves towards them as your trading progresses, especially those with only a couple of years or LESS under their belts.

Unless you have the trading capabilities, time and capital to surge forth in this industry, the candlesticks will serve well for the time being. Just imagine, if you can succeed with the basic tool set then you will excel once you are ready to take it up a notch.

Lets see some trading charts with trades placed on them first. I do not care whether they are demo or live, it is the actual time and effort placed into ANY of these methods that is going to set a one apart from those who are just seekers.

Regards.
  • #3,384
  • Jun 27, 2009 11:08pm Jun 27, 2009 11:08pm
Quoting TudorGirl
Hi All

Just going on from my last post, here is the GU H1 chart for this week with my trades.

Please note that I only use Vorticity and that I wait for the close of the 3rd bar after colour change. This is vital as vorticity can repaint 2 previous bars in the worst case.

Depending on your timing getting to the PC, there was easily 600+ pips here for 6 trades. Total screen time, less than 10 minutes.

Anne
Thanks Anne , your simplicity is wonderful.

I make humble recommendation : don't trade in the Vorticity when EMA20 and EMA30 are very closer (Only 1 Hour Frame).

Regards.
  • #3,385
  • Jun 28, 2009 6:41am Jun 28, 2009 6:41am
Greeting to all,
Thanks for this wonderful thread, and I've just try learning it. I wonder has anybody got alert for Trend Magic Indicator changes it color?

Can somebody add alert to it?

If we have this alert, maybe we can relax a bit more when trading

Thanks in advance.
  • #3,386
  • Jun 28, 2009 6:52am Jun 28, 2009 6:52am
Quoting Edgetrader
Trades (10 tic RENKO) 259

Net Profit $136,067.00

Percent Profitable 54.89%

Profit Expectancy 3.97

Avg. Winning Trade $1,175.00

Avg. Losing Trade ($296.00)

Max. Daily Drawdown ($1,200.00)

Min. Account Size Required $2,206.00


.
Nice renko chart, thanks, Edge.

I am a longtime TS8 user : is that the standard TS8 Mom strat you used in your example, please, and are you brave enough to use strategy automation to execute live trades ? I know some doing so with great success, but I have always manually executed trades (both with TS and IB).

However, I am discovering that using range and renko charts, automated execution is in some cases essential to get filled at the strategy signal. For faster charts, I have in the past used tick charts (which as you know do not suffer this issue), but renko look well worth further investigation.

J.
  • #3,387
  • Jun 28, 2009 7:04am Jun 28, 2009 7:04am
Hi Everyone

While not a regular poster any longer, I am making the occasional post if I think I can add something. I am making this post now for three reasons, (a) because my PM has been flooded with kind folk asking me not to abandon them, (b) to clear up some misconceptions, and (c) to make a plea.

Quoting notch
Don't be daft!
KimChiKim is not daft. He is perceptive. The lines were indeed drawn by me. This is NOT just another useless indicator (I can't think of a more useless indy than a zigzag!) but a simple manual illustration of the trades to make the chart clearer for readers.

Quoting 4xStar
I just bought my renko EA today from mqlservice.net, costs 30 euro.

You have to register to view products/prices (but I already told you the price). In their search box just put renko and you will find it, it is instantly downloadable as an ex4 and it goes in your experts folder, not the indicator one. Further instructions come with the EA.
Quoting Edgetrader
I appreciate 'balle' offering this renko indi.
However, please refrain from using it as it is quite poor in both design and actual usage. Simply put it on a chart and compare to any chart I have posted (numerous) showing Renko setups and you will see the difference.
My plea is that you all listen to Edge. He has more experience than many here put together.

This thread started off with just 3 indicators, TrendMagic, HG(STF) and HG(MTF). We now have more than 50.

Those like Digitalis, Kos, Gleneagles etc who stuck with the original system for a whole month are making excellent pips. The vast majority who flitted from indy to indy, whatever was flavour of the moment, are getting nowhere.

You will no doubt have tried the VQ, the QQE, the Trix, the FX Technique Scalping, the various exotic MAs, the Stoch Bars, and so on and so on (there are more than 40 to choose from) and what have you found? That they don't help! Just as Edge has always said.

His whole thesis is that all you ever need is a primer and a trigger. Once I realised that I got my H1 stuff working fine. Several have commented how uncluttered my charts are. In fact, I use only Vorticity as the primer, and the PA itself is the trigger. Another gem of wisdom from Edge.

Now, the latest craze looks like Renko. If you want a genuine Renko chart, you can buy an inexpensive EA ($30) that converts MT into a Renko workstation. But before you all rush out and spend the money, think about what you are doing.

Again, as Edge has said, if you cannot get the simple systems to work with candlesticks (perhaps with some Heiken-Ashi smoothing) then you will do no better with Renko. I guarantee it. An amateur woodworker can go out and buy the finest tempered steel wood chisels, but that will NOT make you a cabinet maker. You must aquire the skill to use the tools or they are useless in your hands.

So save the $30 and think about what you are doing.

Balle has posted the RENKO2 indy again to the thread. Please be warned that this is NOT a true Renko system. A true Renko is completely independent of time. On the Renko charts I have seen, some bricks last 20 seconds or less, others 20 minutes or more. The RENKO2 indy is, like all other secondary indicators, time locked to the chart. So it moves with regular time intervals as well as PA. But have a play with it by all means. It is an amusing diversion from the real business in hand and might entertain you for half an hour.

Then please get back to the serious task of removing all the clutter from your charts and thinking about what you are doing. I have learned a lot from Edge and I will be forever in his debt. It is not until you realise that the "grail" is not the next indy to be posted, but what you all know already, will you be successful. The process is not easy. I had to force myself to change the way I thought. But Edge is right - do as he says and you will succeed.

When you are proficient and are making consistent pips, then perhaps invenst in Renko (or even TradeStation and be done with it!). Until then, keep the faith and practice, practice, practice...

Anne
  • #3,388
  • Jun 28, 2009 8:10am Jun 28, 2009 8:10am
Brilliant post .... thank you, Anne. Best wishes with the H1 system. And keep us posted, please.

Regards, Richard.

Quoting TudorGirl
Hi Everyone

While not a regular poster any longer, I am making the occasional post if I think I can add something. I am making this post now for three reasons, (a) because my PM has been flooded with kind folk asking me not to abandon them, (b) to clear up some misconceptions, and (c) to make a plea.

..............

Until then, keep the faith and practice, practice, practice...

Anne
  • #3,389
  • Jun 28, 2009 9:12am Jun 28, 2009 9:12am
Quoting jtrade
Nice renko chart, thanks, Edge.

I am a longtime TS8 user : is that the standard TS8 Mom strat you used in your example, please, and are you brave enough to use strategy automation to execute live trades ? I know some doing so with great success, but I have always manually executed trades (both with TS and IB).

However, I am discovering that using range and renko charts, automated execution is in some cases essential to get filled at the strategy signal. For faster charts, I have in the past used tick charts (which as you know do not suffer this...
It is indeed the TS8. The 'MOM' is one of the simple strategies as projected by my charts and is used always.

Nope, I do not let the strategy (EA !) just run away and do its thing. I will only let it 'inform' me of potential trade setups according to the criteria I wish. I ALWAYS make the choice of taking the trade or not. I cannot stand the idea of letting some mechanical signal have control over my trading account. Will never happer!!! It is simple enough to have a screen pop up informing you that your preset peramaters are in place and a trading op is presenting itself. Takes only a few seconds to glace at the chart and buy, sell or ignore the signal as you deem appropriate.

Regards.
  • #3,390
  • Jun 28, 2009 9:33am Jun 28, 2009 9:33am
Quoting TudorGirl
Hi Everyone

While not a regular poster any longer, I am making the occasional post if I think I can add something. I am making this post now for three reasons, (a) because my PM has been flooded with kind folk asking me not to abandon them, (b) to clear up some misconceptions, and (c) to make a plea.



KimChiKim is not daft. He is perceptive. The lines were indeed drawn by me. This is NOT just another useless indicator (I can't think of a more useless indy than a zigzag!) but a simple manual illustration of the trades to make the chart clearer...
Thx for all the accolades Anne, will have my people send your people the customary amount for such.

We will see this week who intends to start walking. There are several here who like the short term trading and am eager to see some posted efforts to ascertain where they are as a developmental guide.

There are also some others here who clearly have a solid trading mindset and they obviously will not benefit from my theories. They trade quite well on their own and I acknowledge their capabilities and contributions as would any other thread follower. No need to mention them as they know who they are. Again, thanks 'comrade traders'.

There are also some who are going to become irritating. I have no idea if this thread will last much longer. Many are awaiting Paul's !M research results the same as me. Knowing my own temperament, I can see myself becoming a bit inpatient and will have to keep my mouth in check. I will try and will issue this BLANKET APOLOGY in advance. I am almost positive I will be nails on a chalkboard to someone this week.

So, those who are ready to put forth some time and effort, now would be the time to do such. The single goal is to help you progress to full time trading. If you do not have a few hours to put into this each day due to other responsibilities, that is neither here nor there. If you have the time to read about all the different FF trading plans, then you have the time to apply ONE strategy to your trading and get proficient at it.

Will be an interesting week.

Regards.
  • #3,391
  • Jun 28, 2009 10:26am Jun 28, 2009 10:26am
May be someone can help regarding the repaint issue .
Let assume there were 5 blue bars and 2 red bars
According to the repaint issue what scenarios can happen ? 1/2/3/4 ?
I don't understand TG when she says , wait for the 3rd bar to close ...We don't know when the 3rd bar will close , it depands when we will get the tics. It will be OK to wait for the 3rd bar with the same color to close , and to enter at the openning of the 4th bar ?
Can it be possible to back test this indicator due to the repaint issue ?
Tks
David
  • #3,392
  • Jun 28, 2009 10:29am Jun 28, 2009 10:29am
pls see the previous post
Attached Image (click to enlarge)
Click to Enlarge Name: repaint.png Size: 10 KB
  • #3,393
  • Jun 28, 2009 11:04am Jun 28, 2009 11:04am
when the 3rd bar closes and the 4th bar opens that means that the 1st bar wont change its color anymore. and if you look at the vorticity indi, most often if a new trend establishes, it will stay for a while
  • #3,394
  • Jun 28, 2009 11:07am Jun 28, 2009 11:07am
Quoting MCFly
Maybe you'll try the better volume indicator.

Can you think of one? Or have one?

D.
  • #3,395
  • Jun 28, 2009 11:11am Jun 28, 2009 11:11am
Quoting DirkH143
Can you think of one? Or have one?

D.
here ya go
Q
Attached File(s)
File Type: mq4 BetterVolume 1.4.mq4   5 KB | 510 downloads
The Only Constant Is Change!
  • #3,396
  • Jun 28, 2009 11:37am Jun 28, 2009 11:37am
Quoting DirkH143
Can you think of one? Or have one?

D.
Hi,

to understand volume based trading I would recommend to read the following sources.

http://www.forexfactory.com/showthread.php?t=157629

Have fun
Attached File(s)
File Type: mq4 BetterVolume 1.4.mq4   5 KB | 516 downloads
File Type: ex4 BetterVolume 1.4.ex4   6 KB | 481 downloads
File Type: pdf Better_Volume_Indicator.pdf   322 KB | 823 downloads
File Type: pdf VSA BASICS.pdf   665 KB | 760 downloads
  • #3,397
  • Jun 28, 2009 12:37pm Jun 28, 2009 12:37pm
Quoting SwingMan
A simple variant of one of the 214 variants in this thread...

You can test the results after the 3-th colour change in the Vorticity indicator.
You can take the HG0001 colours and the TrendMagic for signal confirmations.

In the chart is to see that the live Vorticity has an other shape as the same indicator refreshed...
.
WARNING!!

Please don't trade the method like Swingman suggests nakedly. You will lose pips!! There is more to it than that! You need a special version of the indy for H1 (which has auto-refresh) which the H1 group is developing.

Please don't lose pips!!

And Swingman, PLEASE don't divert this thread onto H1. There are enough problems with diversions as it is. It is not helpful.

Anne
  • #3,398
  • Jun 28, 2009 12:43pm Jun 28, 2009 12:43pm
Quoting TudorGirl
And Swingman, PLEASE don't divert this thread onto H1. There are enough problems with diversions as it is. It is not helpful.
OK, post deleted. I no longer disturb the thread ...

The EA was thought only for tests, and to see the possible win/loss relations.
OK, until the H1 group finished the developing, everybody can lose pips with the original indicators...

  • #3,399
  • Jun 28, 2009 12:55pm Jun 28, 2009 12:55pm
Thanks guys.
That will help.

D.
  • #3,400
  • Jun 28, 2009 12:56pm Jun 28, 2009 12:56pm
Hello all,

I am only on page 70 out of 227, trying to read every post. I will be glued to my computer until I am caught up, but I wanted to take a quick moment to say two things:

1. Oh My God! This is amazing. I can't wait to start using it. I feel like a little kid excited about his new Christmas present.

2. Thank you so much to Paulus and Tudorgirl for sharing this with everyone. We are all deeply in your debt. Thanks also to everybody else who contributed to this thread!

Ok-now back to reading.
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