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Mister ED's 4 hour Heikin Ashi system

  • #101
  • Jul 18, 2009 3:01am Jul 18, 2009 3:01am
Hi all,
if you need a coder ... here I am ;-))
Let me know..
Massimo
I'll send a bottle of wine to my first voucherer ;-)
  • #102
  • Jul 18, 2009 3:27am Jul 18, 2009 3:27am
Hello Richboy,

I have been impressed with your ea's that you have shared on FF. If you make an ea for this very nice system everyone would appreciate it.

Regards.
Jeff

Quoting richboy1972
Hi all,
if you need a coder ... here I am ;-))
Let me know..
Massimo
  • #103
  • Jul 18, 2009 4:32am Jul 18, 2009 4:32am
hello folks

i'd like to post these 4 trades gone bad. any comments are really appreciated.
thanks
Attached Image(s) (click to enlarge)
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  • #104
  • Jul 18, 2009 11:15am Jul 18, 2009 11:15am
Looking at the chart - Feb 20th at 16:00, how does the retracement work on this - I'm new to retracement and don't know when to enter on this one?
Thanks
Ian
  • #105
  • Jul 18, 2009 11:39am Jul 18, 2009 11:39am
Quoting AZBOfin
hello folks

i'd like to post these 4 trades gone bad. any comments are really appreciated.
thanks
I think they are all losing trades except the second one.
GBP/USD isn't traded on Friday.
  • #106
  • Jul 18, 2009 11:56am Jul 18, 2009 11:56am
Hi Ionforex ,,,,Learn about fibanacci retracements and extensions,,,Very crucial to your trading future,,,,,Good luck
  • #107
  • Jul 18, 2009 12:58pm Jul 18, 2009 12:58pm
Quoting piptalk
Hi Ionforex ,,,,Learn about fibanacci retracements and extensions,,,Very crucial to your trading future,,,,,Good luck
I understand how to use fibonacci but I am referring to the example in Mr Eds instructions for the 20th Feb EUR USD and how to make the trade when above 200%. I don't understand when you would enter after retracement.

Thanks
  • #108
  • Edited Jul 19, 2009 12:11am Jul 18, 2009 1:24pm | Edited Jul 19, 2009 12:11am
Quoting Mister ED
After a lot of thought and work I have decided to unveil a system that I have been using for the past year or so. The reason for doing this is to see if someone can program a useable EA that can bypass me having to sit at my screen at inconvenient times throughout the day.

I have developed this system from others that are on this forum and do not claim to be the originator. Others such as Paulus and Dreamliner have done much more of this work.

However I have tried to organize this system so that it is as mechanical as possible. The aim is to...
hi mister ED
and thank you so much for this system... i used this for 1 years ago ...it is origined by a Belgium person and i contact him directly he had said that this is very profitable on h4 but group of my friends follow this system and found out that this is only work on stocks and futures and isn't profitable on forex . by the way i think i have some more indicators if you need i will post them.
cheers,
  • #109
  • Jul 18, 2009 5:07pm Jul 18, 2009 5:07pm
Seems that I am not the only one that keeps struggling with too much screen time.
Read thru the whole thread in ONE BIG session and like what I see so far.

Missing any followup on the EA, as that would be awesome to put to work.

The ATR reading can easily be seen when the THV3 InfoPanel is added to the chart, which would give lots of info, like spread, timer, etc.

Not going against the wishes, Ed, but I feel a lot better when I can see what the broker is doing, when the candle comes to its end, the daily average.

To finish this post: IBFX regularly messes with the spreads, compared to FXDD that keeps them most of the time steady. Watch that compared to other brokers on Sunday market open.

Guess I am one of those guys that loves and extra mirror on my vehicle, lol.
  • #110
  • Jul 18, 2009 7:04pm Jul 18, 2009 7:04pm
Quoting Mister ED
After a lot of thought and work I have decided to unveil a system that I have been using for the past year or so. The reason for doing this is to see if someone can program a useable EA that can bypass me having to sit at my screen at inconvenient times throughout the day.

I have developed this system from others that are on this forum and do not claim to be the originator. Others such as Paulus and Dreamliner have done much more of this work.

However I have tried to organize this system so that it is as mechanical as possible. The aim is to...
Very seldom do I come across such a good long term strategy. I did the honour of testing the past 29 years....It was tough, a lot of blood, sweat and tears went into this, so I hope you all appreciate it. Took me a couple of months to do this.

Purely mechanical, opened long at close of candle with blue HA bar, and closed the order at the close of the red HA bar. Vice Versa for shorts. That means to say that you will always be in a trade, long or short because when one closes, the other one opens.

I'm attaching my testing.
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  • #111
  • Jul 18, 2009 7:09pm Jul 18, 2009 7:09pm
Quoting Ace284
Very seldom do I come across such a good long term strategy. I did the honour of testing the past 29 years....It was tough, a lot of blood, sweat and tears went into this, so I hope you all appreciate it. Took me a couple of months to do this.

Purely mechanical, opened long at close of candle with blue HA bar, and closed the order at the close of the red HA bar. Vice Versa for shorts. That means to say that you will always be in a trade, long or short because when one closes, the other one opens.

I'm attaching my testing.
Alright, so it didn't take me months, took me a half an hour
Anyway, what I'm getting at it, the system seems to be solid on the monthly time frame as well as daily, weekly and 4 hour, so if all other time frames fail (not likely) we can always turn to good old monthly charts.

Thank you Mr. Ed.
  • #112
  • Jul 18, 2009 7:29pm Jul 18, 2009 7:29pm
Hi Ace,,,Thanks for your input....I know everybody wants to put there 2 pips in these tested trading systems,,,,,Enhancements,,,tweaking this and that,,,,,Demo accts,,,,,Dont call me,,,, Ill call you,,,,,Bottom line,,,,Trade,,,Follow the systems rules and trade,,,,OMG,,,,Take 2 aspirin and call me in the morning!!!!,,,,,Ace and Mr Eds threads are money!! As is!! Looking forward to Sun,,,,,,,,,,,Ok,,,, Ill lighten up,,,...Weather here in Oregon is beautiful,,,,,At least,, during the summers,,,,
  • #113
  • Jul 18, 2009 8:31pm Jul 18, 2009 8:31pm
Quoting AZBOfin
hello folks

i'd like to post these 4 trades gone bad. any comments are really appreciated.
thanks
Hi Azbofin

Thanks for posting the trades.

This is my feeling about them

1) This one just retraced quickly. Some people would take this as it was against the recent trend but I would have taken it and it would have been a loss. My candles are slightly different so we must be on a different server. I talked about server time a bit on a previous post, I'm not sure how much it affects things but it does make some difference.

2) Again a correct trade but I find Monday is by far the best for GBPUSD trades, and also my trigger would have been on an 08:00 candle which is also not a good time for trading off. Therefore I would not have taken this trade due to my optimisation of the system. You must remember however that the optimisation is only relevant to my charts and my server time, it may well be different for you.

3) In theory a good trade but I don't use this pair so don't have any comment.

4) Again a good trade. Occasionally a trade setups up and reverses on the next candle and gives a new HA signal like this trade. The way I trade these is to take the second trade from the top of the signal candle. But I bring my first trade's SL up to the to the same top of the wick of the reversing candle.

Mister ED
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  • #114
  • Jul 18, 2009 8:43pm Jul 18, 2009 8:43pm
Quoting Mister ED
Hi Azbofin

Thanks for posting the trades.

This is my feeling about them

1) This one just retraced quickly. Some people would take this as it was against the recent trend but I would have taken it and it would have been a loss. My candles are slightly different so we must be on a different server. I talked about server time a bit on a previous post, I'm not sure how much it affects things but it does make some difference.

2) Again a correct trade but I find Monday is by far the best for GBPUSD trades, and also my trigger would have been...
For the last trade therefore I would have entered short on the 08:00 candle at 93.70, with SL at 94.11. the 12:00 candle gives a long entry. At this stage in theory I bring my SL on my first trade to the most recent high 93.95, and it closes almost immediately (in practice I would have put it at about 94.03). I would also have placed a buy order at 94.04 which also would have opened almost immediately.

This is a messy situation and one where it can be difficult to trade. It often happens when you have small candles so watch for the 50% ATR rule as this may keep you out.

The truth is that you will get taken out immediately sometimes and you just have to accept it. This is why it is important to take all the trades and not cherry pick them. I have the long term testing that shows that in my hands this is probably the best way to trade for me.

Someone else may have better ideas.

Actually not a great end to the week. However my figures for this week were

Monday +564
Tuesday +785
Wednesday 0
Thursday 69
Friday -450 (but trade on USDJPY still open and trade on GBPJPY also set to open on Sunday and recorded as a loss at this stage)

Have a great weekend,

Mister ED
  • #115
  • Jul 18, 2009 9:14pm Jul 18, 2009 9:14pm
Quoting ianforex
I understand how to use fibonacci but I am referring to the example in Mr Eds instructions for the 20th Feb EUR USD and how to make the trade when above 200%. I don't understand when you would enter after retracement.

Thanks
Hi Ian

Retracement trades are usually pretty messy but here is how I played that trade.

HA colour change on 16:00. Total candlestick height 283, ATR 76, therefore retracement required.

Wait until retrace 68%, at about 1.2754. 20:00 candle just touches this level so then place an order to go long at the top of the signal candle wick, about 1.2839 and aim for 76 pips TP1 (1.2915)

This one made it but they are often messy trades. I probably would close both parts of the trade at TP1 because if these are large candles then you are into severely oversold territory.

Dealing with these is not easy and if you wish you could just leave them out. I am still looking into this.

All the best,

Mister ED
Attached Image (click to enlarge)
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  • #116
  • Jul 18, 2009 9:21pm Jul 18, 2009 9:21pm
Quoting piptalk
Hi Ace,,,Thanks for your input....I know everybody wants to put there 2 pips in these tested trading systems,,,,,Enhancements,,,tweaking this and that,,,,,Demo accts,,,,,Dont call me,,,, Ill call you,,,,,Bottom line,,,,Trade,,,Follow the systems rules and trade,,,,OMG,,,,Take 2 aspirin and call me in the morning!!!!,,,,,Ace and Mr Eds threads are money!! As is!! Looking forward to Sun,,,,,,,,,,,Ok,,,, Ill lighten up,,,...Weather here in Oregon is beautiful,,,,,At least,, during the summers,,,,

Hi Piptalk

I agree with you that it is great to hear what everyone has to say.

My selfish aim with this thread was to get a working EA to allow me to enter the trades more easily, and hopefully also to manage them although that can become discretionary. Hence I tried to keep things as simple and ideally therefore as easy to program as possible.

There does appear to be some progress with the EA angle but I have never used one and do not know how to test one so that may take some time.

Unfortunately it has rained here all weekend and has trashed the Kiss concert in town and the Tall Ships. However last weekend Halifax rocked with Paul McCartney so it isn't all bad. The forecast is better for tomorrow so I'll be out in the garden.

All the best,

Mister ED
  • #117
  • Jul 19, 2009 1:01am Jul 19, 2009 1:01am
Quoting Mister ED
Hi Ian

Retracement trades are usually pretty messy but here is how I played that trade.

HA colour change on 16:00. Total candlestick height 283, ATR 76, therefore retracement required.

Wait until retrace 68%, at about 1.2754. 20:00 candle just touches this level so then place an order to go long at the top of the signal candle wick, about 1.2839 and aim for 76 pips TP1 (1.2915)

This one made it but they are often messy trades. I probably would close both parts of the trade at TP1 because if these are large candles then you are into severely...
Hi Mr Ed,

Many thanks for the reply. I can see now exactly how you did the retracement from this post. I like your system and will be back testing today and paper trade it next week to see how it goes. Enjoy the garden this weekend.

All the best!
  • #118
  • Jul 19, 2009 3:46am Jul 19, 2009 3:46am
Mr. Ed

Thanks for your analysis.

Quoting Mister ED
This is a messy situation and one where it can be difficult to trade. It often happens when you have small candles so watch for the 50% ATR rule as this may keep you out.
I'm wondering if it makes sense waiting for another candle to close if the previous one didn't have a body or if the Hi/Low of the signal candle was very close to 50%ATR. On the other hand, loosing trades are part of the business and should be accepted as such.

Since I have just started using your strategy, I am trading every pair, 5 days/week - just to get the feeling for it. I also keep a record of every trade I make - btw, I like your excel file. Just need some adjustments for my taste

How do you go about late entries? Let's say you miss the close of the signal candle and are already one hour into the new candle; do you still open a position? What's your threshold - 1 hour, 2 hours or even a candle or two?

AZBOfin
  • #119
  • Jul 19, 2009 1:33pm Jul 19, 2009 1:33pm
Mister ED,

How to determine TP1 with ATR value? For example, in EUR-JPY ATR ís 1.0405 in the signal candle. Which is the TP1 in this case?

best regards,
  • #120
  • Jul 19, 2009 2:30pm Jul 19, 2009 2:30pm
Here is indicator that displays ATR. Just set the multiplier to 1 and period to 20.

Quoting felipeds
Mister ED,

How to determine TP1 with ATR value? For example, in EUR-JPY ATR ís 1.0405 in the signal candle. Which is the TP1 in this case?

best regards,
Attached File(s)
File Type: ex4 ATR Pips.ex4   3 KB | 973 downloads
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