EUR/GBP Trendmagic System | Page 183 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

TrendMagic Channel 2 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

If you buy gbp/usd and sell eur/usd, is that the same as being short eur/gbp? 1 reply

Pair selection when using Trendmagic System 0 replies

Attachments: EUR/GBP Trendmagic System
Exit Attachments

EUR/GBP Trendmagic System

  • #3,641
  • Jun 29, 2009 7:03pm Jun 29, 2009 7:03pm
Well,
my last post in this thread.
Reasons:
* very bad and destructive karma
* my trades are in no way related to post #1 of this thread.

So just my 2 trades this morning (Philippines Time)
A quick 2 times 20 pips on FXDD Live, 5M timeframe, cable & euro.
Took me one hour of my day!

And now I'm off to the beach! Take care guys!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dxtrade.gif Size: 24 KB
Click to Enlarge Name: dxtrade2.gif Size: 22 KB
"The only successful substitute for brains is silence."
  • #3,642
  • Jun 29, 2009 7:05pm Jun 29, 2009 7:05pm
Thanks for that thorough explanation, flyingdawg.
I have the renko now and will be testing various scenarios with it.
I like the multiple-indicator-confirmation concept.

Good Luck, maybe see you around sometime
******************* I'd rather make money than be right.
  • #3,643
  • Jun 29, 2009 7:07pm Jun 29, 2009 7:07pm
You get three bars blue. By that time the pair has gone up a bit. Presumably, you confirm you're trading in the direction of the overall trend. You make the trade at the close of the third bar & set a TP of X.
I've looked at this on a one minute chart & don't see any repaint of any 10 bars back. One bar is common. A change from blue to red, etc. At the wise suggestion of Edgetrader, I watched it in conjunction with a 7/14 moving average and trix. I've seen times when the trix would be above zero, and the cross occurred, and then reversed not to soon after. But, assuming you had gotten into that trade at the juncture of the 7/14 cross and trix being above 0, this is about the same time as you'd have two blue bars.
What's the difference? The MA cross and trix above zero gives you two bars. If within a short span of time the pair reverses, the blue bars go back to red. BUT, so would the MA cross and trix also reverse. Where's the difference? Yes, you can say in looking back on a chart, the blue lines are no longer there, and it's a fake reading. But, would you say it was also a fake reading if the same chart showed the MA cross go over, and then recross soon after? No repaint there, for sure.
If you wait for the third bar, that MA cross and trix line goes further away. Is it too late to get into the trade at that time, or is that a confirmation that the signal is a vlaid one?
Someone said you're entering too late if you wait for the third bar to close. But, to me, the entry at one or two bars being blue is no different whatsoever than entering soon after the 14/7 cross and trix being over zero. At least from what I've observed.
Agreed, if you were to refresh the chart, those blue bars disappear if the trend changed, and makes the Vorticity signal look much better. But, sitting there watching it and using whatever other indicators you like as confirmation is not a problem, because you can see it. No difference than having the trix line being in color and changing from red to blue and back again when it goes above/below the zero line.
Quoting Quantum4x
Most repainting indicators don't show just the "price movement" but a "better option" once you are in a trade.

1pm: Indicator says "go long".
You go long.
2pm: After you lose 40 pips indicator says "Ok, I'm sorry. NOW you go long"
You go long.
4pm: After you lose 30 pips indicator says "Ok, I'm sorry. NOW you go long"
You go long.
5pm: After you lose 50 pips indicator says "Ok, I'm sorry. NOW you go long"
You go long.

At 8pm you see a nice chart, where everything was red until 5pm where now there's a signal.
Indicator says "What...
  • #3,644
  • Jun 29, 2009 7:13pm Jun 29, 2009 7:13pm
[quote=Edgetrader;2837726]
Quoting paradoxical
Are these points valid? If not, why not? If other type indicators are superior, why isn't everyone a millionaire by now? [/quote]

Now there is a good question.

Am really wanting to see the answer to this.

The opening of 'Pandora's Box'.
Ok I'll bite .. because MOST traders learn to trade way before they learn how to MANAGE their trades and their money.

**Learning how to trade: $500 - $5000 for books & time spent learning (and replenishing blown-out accounts)

**Finding the right indicators & methodology: $0 to thousands depending on what/if you pay for them.

**Sticking to one plan & leaning to manage your money: PRICELESS

(with thanks to MasterCard...)
******************* I'd rather make money than be right.
  • #3,645
  • Jun 29, 2009 7:21pm Jun 29, 2009 7:21pm
Just got to test this fisher.. hey nice job, thanks

So it seems I also should go ahead and thank you for the
smHull Mavg and the smHullslope indicators is that correct?

Since I see you might as well mention.. thanks!

Brian[

quote=SwingMan;2810992]Indicator updated: smFisherTransform3

Sory @paradoxical, the bug with the alert comes from swissly, not from me...!

I studied a similar system with edgetrader.
My FT version has the advantage that the colour changes comes 2-3 bars earlier as in edgetrader's version (EdFT).
If so, which means that if you take a signal on the third bar after changing colours, you must have a better signal as EdFT!
The EdFT indicator can still change the color, but my indicator has already changed.[/quote]
  • #3,646
  • Jun 29, 2009 7:22pm Jun 29, 2009 7:22pm
Hi all..

So the problems still continue.....might be an idea to take this thread to a Journal....where there is the option to ban people from posting..... generally I dont like that option if it happens because people ask question regarding the system....but when people start posting there own indicators and pretty much different methods of trading..well banning is a must because these people just do listen when asked not to...

The indicators are not hindsight indicators..there going forward indicators so if you see differences looking back.....well dont look back...SIMPLE..

The Advantage of DEMO's is you can trade going forward and not lose your money....SO people need to stop whining about backtests and put some time in to forward test it......because at the end of the day a backtest means absolutely nothing..
  • #3,647
  • Jun 29, 2009 7:41pm Jun 29, 2009 7:41pm
Quoting Ace284
Money management has been the least of people's worries here, which is why many people are experiencing the dark side of the strategy.

You can have the best indicators, its the money management that makes a difference. You can make money with simple support and resitance, if proper mm is used. I'd say 90% of people reading the last comment will brush it off, or assume that they know what it means. It's a shame. If you are in that other 10% and want to learn what it means, read about it first, before judging strategies.

This seems like a common...
So very true.

Indicators don't make a system.

Entries and more importantly EXITS are what makes a system.

No point having an indicator that gives the best entries when you have no idea on how to exit a position.

You need a SL also. Reason is then you have a way of determining what position size to trade based on your risk:reward for the system.

Any system should start with how do I exit once I'm in a trade. Any dummy can enter a trade... Exiting a Trade is how you get paid....

Whenever you look at a "Mechanical Trading System" alway look first for how the SL is worked out and how the Exit is worked out. If these things don't exist then there is no Trading System.

  • #3,648
  • Jun 29, 2009 11:45pm Jun 29, 2009 11:45pm
Can someone post the indicator that Anne is using for the Pivots ?
Tks
David
  • #3,649
  • Jun 30, 2009 1:34am Jun 30, 2009 1:34am
Quoting Quantum4x
As for the mq4 presented as the code for Anne's (or whoever's) it repaints up to 10 bars in the past, only from what I have seen.
Anne stated that Vorticity can repaint 2 bars prior to the current bar as it is based on a 5 bar cycle, of which the current bar is the middle bar. Anne has not released any code for her indicators on this forum, so I cannot see how you can make an assumption that up to 10 bars can repaint?

Andy
  • #3,650
  • Jun 30, 2009 1:37am Jun 30, 2009 1:37am
I have two trades running with this system at H1 chart - long EU and long GU. Plus I entered long GU again this morning. Gain is around 400 pips by now already.
I use TGV + HA + Trix.
As I hate watching at HA candles (they are too ugly) then I use an indicator that shows HA colours in separate window.
About Trix: setting 3,1 is too slow even for H1 chart but 2,1 is working well.
Indrek
  • #3,651
  • Jun 30, 2009 1:56am Jun 30, 2009 1:56am
Quoting Andy B
Anne stated that Vorticity can repaint 2 bars prior to the current bar as it is based on a 5 bar cycle, of which the current bar is the middle bar. Anne has not released any code for her indicators on this forum, so I cannot see how you can make an assumption that up to 10 bars can repaint?

Andy
This mq4 that Andy is probably talking about was posted by a guy who insulted everybody here and then pissed off (I hope that he did).
Anne did not provide her code.
I still do not understand why is repainting such an obsession for many of us here. Let me give you a new idea: what if we can invent a new ordinary candle that would not change its colour during the day
Indrek
  • #3,652
  • Jun 30, 2009 1:58am Jun 30, 2009 1:58am
Quoting Indrek
This mq4 that Andy is probably talking about was posted by a guy who insulted everybody here and then pissed off (I hope that he did).
Anne did not provide her code.
I still do not understand why is repainting such an obsession for many of us here. Let me give you a new idea: what if we can invent a new ordinary candle that would not change its colour during the day
Indrek
Sorry, in my previous post I meant Quantum not Andy who was just replying to Quantum.

Indrek
  • #3,653
  • Jun 30, 2009 2:17am Jun 30, 2009 2:17am
Looks like the MTF indicator is a repainting indicator also.

Chart on left has been open all day... chart on right is a new chart....

Doesnt match up...

Kind of makes backtesting useless right??

edit : changed image
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 148 KB
  • #3,654
  • Jun 30, 2009 2:34am Jun 30, 2009 2:34am
Uh,huh, but this is very old news.

The single TF indicator combined with the MTF and some confirmation indies of your choice is a strong trade, proven over and over again

Cheers


Quoting Musashi
Looks like the MTF indicator is a repainting indicator also.

Chart on left has been open all day... chart on right is a new chart....

Doesnt match up...

Kind of makes backtesting useless right??

edit : changed image
  • #3,655
  • Jun 30, 2009 2:44am Jun 30, 2009 2:44am
Quoting Musashi
Looks like the MTF indicator is a repainting indicator also.

Chart on left has been open all day... chart on right is a new chart....

Doesnt match up...

Kind of makes backtesting useless right??

edit : changed image
Backtesting is useless.
  • #3,656
  • Jun 30, 2009 2:44am Jun 30, 2009 2:44am
Quoting goldsurfer
Uh,huh, but this is very old news.

The single TF indicator combined with the MTF and some confirmation indies of your choice is a strong trade, proven over and over again

Cheers
I thought TG said the MTF indicator does not repaint after it changes....
  • #3,657
  • Jun 30, 2009 2:46am Jun 30, 2009 2:46am
Quoting lohad
Backtesting is useless.
Joking right??
  • #3,658
  • Edited 3:28am Jun 30, 2009 2:57am | Edited 3:28am
Quoting lohad
Backtesting is useless.
Forward testing is usefull

Just using Edges 14 linear ma, a fav of mine the 55 ema, pivots, the Tg's and two of my favorite indies.

Lohad, I like to use the setup you showed me for confirmation or for a 1m entry. These trades setup almost perfect with small risk just using the 55 as the stop.

TG and Paulus, excuse but i figured this thread has pretty much gone potpourri
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Cable_0550gmt.jpg Size: 97 KB
Click to Enlarge Name: Cable_2255gmt.jpg Size: 82 KB
  • #3,659
  • Jun 30, 2009 2:59am Jun 30, 2009 2:59am
Quoting Musashi
Joking right??
Absolutely not.
  • #3,660
  • Jun 30, 2009 3:03am Jun 30, 2009 3:03am
Quoting goldsurfer
Forward testing is usefull

Just using Edges 14 linear ma, a fav of mine the 55 ema, pivots, the Tg's and two of my favorite indies.

Lohad, I like to use the setup you showed me for confirmation or for a 1m entry. These trades setup almost perfect with small risk just using the 55 as the stop.
Golden you have a nice set up there. I see some good indie combinations.

Lohad
3 traders viewing now