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Mister ED's 4 hour Heikin Ashi system

  • #81
  • Jul 17, 2009 12:04am Jul 17, 2009 12:04am
Quoting ivenjason
HI Mister ED,
Good Job on this system, just a question to ask, what do you means by If the signal candle is between 50% and 200% of the ATR value for that candle then it is a valid trade? How to do this calculation?

Thanks
Iven I think Mister Ed means measure the range of the candle, the high minus the low. Lets assume its x pips

now read the ATR indicator lets assume its y pips.

If x is between 50%~200% of y then use a normal entry. If x<50% of y then there in no trade to be made, if x>200% of y use the retrace entry.
  • #82
  • Edited 4:08am Jul 17, 2009 4:07am | Edited 4:08am
So means the calculation will be Y / X times 100% ??
  • #83
  • Jul 17, 2009 4:23am Jul 17, 2009 4:23am
Hi ED,

Would you say these trades complies to the rules:

Shorted UJ at Friday, 17 July 2009 at 09:00 (GMT time).
ATR 41 (sl 41pip, tp 41pip), red candle range: 58% of ATR.
Entry price: 93.71 (at 9:07).

Shorted GJ as well. ATR 97, red candle range: 131% of ATR

GU turned red as well, but don't trade this pair on friday.
  • #84
  • Jul 17, 2009 6:34am Jul 17, 2009 6:34am
Quoting ivenjason
So means the calculation will be Y / X times 100% ??

no Iven lets just take a simple example for the sake of understanding. Lets assume x=50pips and y=100pips.

so now 50% of y = 50% of 100 = 50 pips

also 200% of y =200% of 100 = 200pips

so we find 50%~200% of y = 50pips~200pips

now return to the rules, we find x which is 50 pips lies between 50%~200% of y which we calculated above as between 50pips~200pips

hence we have a trade with a normal entry.
  • #85
  • Jul 17, 2009 6:50am Jul 17, 2009 6:50am
Quoting seafront
Hi ED,

Would you say these trades complies to the rules:

Shorted UJ at Friday, 17 July 2009 at 09:00 (GMT time).
ATR 41 (sl 41pip, tp 41pip), red candle range: 58% of ATR.
Entry price: 93.71 (at 9:07).

Shorted GJ as well. ATR 97, red candle range: 131% of ATR

GU turned red as well, but don't trade this pair on friday.
Hi Seafront

From what you said it looks good. I haven't taken the trades as I was not around. However they do fit the bill.

All the best

Mister ED
  • #86
  • Jul 17, 2009 6:53am Jul 17, 2009 6:53am
Quoting fugly
no Iven lets just take a simple example for the sake of understanding. Lets assume x=50pips and y=100pips.

so now 50% of y = 50% of 100 = 50 pips

also 200% of y =200% of 100 = 200pips

so we find 50%~200% of y = 50pips~200pips

now return to the rules, we find x which is 50 pips lies between 50%~200% of y which we calculated above as between 50pips~200pips

hence we have a trade with a normal entry.
Hi Iven and Fugly

Exactly what I meant.

Looks like a couple more new trades could be setting up.

All the best,

Mister ED
  • #87
  • Jul 17, 2009 7:16am Jul 17, 2009 7:16am
Do you let trades run over a weekend?
Thanks.
  • #88
  • Jul 17, 2009 7:49am Jul 17, 2009 7:49am
Quoting billbss
Do you let trades run over a weekend?
Thanks.
Hi Billbss

Yes I do. I don't know whether this is best but that was the way I got my stats together.

Mister ED
  • #89
  • Jul 17, 2009 10:11am Jul 17, 2009 10:11am
I'm having a little trouble figuring how to apply the ATR's to the current price for determining the TP and SL.

Example: GJ current price 153.50 and ATR is 1.0090. Going short should the TP be 152.49??

I guess it's converting a four digit decimal into pips that's causing me to doubt myself. Can anyone advise?
  • #90
  • Jul 17, 2009 10:29am Jul 17, 2009 10:29am
Quoting reb5035
I'm having a little trouble figuring how to apply the ATR's to the current price for determining the TP and SL.

Example: GJ current price 153.50 and ATR is 1.0090. Going short should the TP be 152.49??

I guess it's converting a four digit decimal into pips that's causing me to doubt myself. Can anyone advise?
Hi Reb

Your SL is 101 pips and therefore your TP of 152.49 is correct.

GJ is a restless beast and has lots of long tails to the candles so be strict with the money managment and risk. Do not be tempted to go for a stop and reverse trade as when I have done this in the past I ususally just get my butt kicked twice.

Remember the signals come regularly, you don't need to generate your own trades. This system is designed to be mechanical and remove discretion and any emotive revenge trades.

Mister ED
  • #91
  • Jul 17, 2009 11:53am Jul 17, 2009 11:53am
This system looks good, any progress on an EA?
  • #92
  • Edited 12:16pm Jul 17, 2009 12:14pm | Edited 12:16pm
I have attached my Excel data on some of the pairs to give an idea as to how I do things.

I have also attached a template, hopefully it works!

I have also shown a screenshot for a tricky trade today. USDJPY indicated a trade and then the HA changed colour the next bar. What I do in this case is bring the SL in to the top/bottom of the new candle and place a new set of orders for the new HA change as normal.

I hope this helps.

Mister ED
Attached File(s)
File Type: tpl misteredha.tpl   2 KB | 1,660 downloads


Attached File(s)
File Type: xls Mister ED HA example data.xls   357 KB | 1,730 downloads


Attached Image (click to enlarge)
Click to Enlarge Name: ha screen shot17.gif Size: 42 KB
  • #93
  • Jul 17, 2009 12:38pm Jul 17, 2009 12:38pm
Very nice,,,,I jumped on the usd/jpy,,,,Thanks for the tpl. and your xls,,,,Your efforts are very much appreaciated,,,Have a great weekend!!
  • #94
  • Jul 17, 2009 1:03pm Jul 17, 2009 1:03pm
Current positions ,,,,short gbp/usd -8,,,,long eur/gbp +59,,,long usd/jpy,,,+8,,,
  • #95
  • Jul 17, 2009 1:05pm Jul 17, 2009 1:05pm
I spaced out the gbp/usd,,,should of waited until mon,,,,,
  • #96
  • Jul 17, 2009 1:26pm Jul 17, 2009 1:26pm
Quoting piptalk
I spaced out the gbp/usd,,,should of waited until mon,,,,,
Hi Piptalk

Yes the EURGBP is usually slow and steady, it won't make you rich fast but it will make you rich. USDJPY looks like it will go.

GBPUSD like to mess about. Moday trades are easily the best on that pair.

Have a good weekend,

Mister ED
  • #97
  • Jul 17, 2009 8:35pm Jul 17, 2009 8:35pm
Nice book keeping! Great stuff to learn how you trade.
I tried to follow your GBPJPY footprints and found a looser on 9th or 10 th of July (depends on your time zone) was not on your excel file. Picture is attached. Could you please have a look and throw some lights ?


Quoting Mister ED
I have attached my Excel data on some of the pairs to give an idea as to how I do things.

I have also attached a template, hopefully it works!

I have also shown a screenshot for a tricky trade today. USDJPY indicated a trade and then the HA changed colour the next bar. What I do in this case is bring the SL in to the top/bottom of the new candle and place a new set of orders for the new HA change as normal.

I hope this helps.

Mister EDAttachment

Attachment

Attachment
Attached Image
  • #98
  • Jul 17, 2009 9:22pm Jul 17, 2009 9:22pm
Quoting seafront
Nice book keeping! Great stuff to learn how you trade.
I tried to follow your GBPJPY footprints and found a looser on 9th or 10 th of July (depends on your time zone) was not on your excel file. Picture is attached. Could you please have a look and throw some lights ?
Hi Seafront

I had to look at that trade for a while to see what had been done. On just a price action visual I didn't like it as it was a small candle with a counter trend trade.

However as I am trying to be mechanical I rejected the trade because the ATR was 143 and the candle height was 69 pips on my chart, and hence less than 50%.

I agree that it was a close call but a try EA would have rejected it, and if I were trading it manually I also would have been cautious.

Hope this helps

Mister ED
  • #99
  • Jul 17, 2009 10:21pm Jul 17, 2009 10:21pm
Silly me. I realized that. It is the 50% ATR rule kept it out. Thanks.

Quoting Mister ED
Hi Seafront

I had to look at that trade for a while to see what had been done. On just a price action visual I didn't like it as it was a small candle with a counter trend trade.

However as I am trying to be mechanical I rejected the trade because the ATR was 143 and the candle height was 69 pips on my chart, and hence less than 50%.

I agree that it was a close call but a try EA would have rejected it, and if I were trading it manually I also would have been cautious.

Hope this helps

Mister ED
  • #100
  • Jul 18, 2009 1:12am Jul 18, 2009 1:12am
Hello Mister Ed,

Very nice system. I am impressed with it. Many thanks for sharing it.

Regards,
Jeff
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