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Mister ED's 4 hour Heikin Ashi system

  • #181
  • Jul 21, 2009 12:21am Jul 21, 2009 12:21am
Quoting samer960
MR ED
could you please tell me what GMT has the platform you are using ?
regards
MR ED had already answer this question on the previous post ! So, he use FXDD the same as my live account and it s GMT +3, but in reality it s the same result as if it was +1
Regards
Luk
  • #182
  • Jul 21, 2009 12:36am Jul 21, 2009 12:36am
I've studied this thread and really like the system. It's clean, simple and can be traded without emotion or subjectivity. Thanks, Ed.

I ADDED a 10 period EMA on the close to my charts and, looking back in history, this seems to filter out the most of the trades that would have lost. Same trade triggers as outlined by Ed with the additional rule on not taking the trade on a new HA candle close unless it also closes above/below the EMA.

Check it out...
  • #183
  • Jul 21, 2009 1:07am Jul 21, 2009 1:07am
hi
fxdd is where he use only gold . i am asking about the other platform where he use all the other pairs
thanks

gmt
Quoting PipsRider
MR ED had already answer this question on the previous post ! So, he use FXDD the same as my live account and it s GMT +3, but in reality it s the same result as if it was +1
Regards
Luk
  • #184
  • Jul 21, 2009 1:14am Jul 21, 2009 1:14am
Quoting samer960
hi
fxdd is where he use only gold . i am asking about the other platform where he use all the other pairs
thanks

gmt
Hi
Check post 151 where Mr Ed gives you the info you looking for viz.
FXDD for gold and
a link to download the platform

Pips to all

John from Durban
  • #185
  • Jul 21, 2009 1:35am Jul 21, 2009 1:35am
There are two sorts of EAs one can use. One is the classic one which handles everything - entries, exits, sls, tps ..
The other doesn't do entries but does all the rest - ideal for handling trades when one's asleep or away.
Examples of this latter sort:
- Yannis Sferopoulos' Artemis_Sitter - available in free and commercial versions
- Steve Hopwood's Multi-purpose trade manager - http://www.forexfactory.com/showthread.php?t=89371
- Swiss Army EA. - http://www.forex-tsd.com/expert-advi...anagement.html
But like all EAs, they take a bit of learning.
sezor
  • #186
  • Jul 21, 2009 2:07am Jul 21, 2009 2:07am
Did anybody go short on GBPJPY 0800? The ATR was .3847 and candle size 27 pips how do you calculate the 50%-200% on the ATR. Any non JPY currency the ATR is .ooXX and I have been using the last 2 digits of the ATR. Do you ignore the last 2 digits on the ATR for JPY?

Thanks!
  • #187
  • Jul 21, 2009 4:35am Jul 21, 2009 4:35am
Quoting louarm
Did anybody go short on GBPJPY 0800? The ATR was .3847 and candle size 27 pips how do you calculate the 50%-200% on the ATR. Any non JPY currency the ATR is .ooXX and I have been using the last 2 digits of the ATR. Do you ignore the last 2 digits on the ATR for JPY?

Thanks!
Hi Louarm

On USDJPY for you the SL would have been 38 pips and therefore the candle would have been good (ie >50% of ATR). Ignore the last 2 digits.

Unfortunatley looks like this was a loser. Remeber to keep up with the money management.

I wouldn't be using this on a live account until I had traded it for at least 1 month and was able to work out however to take all the trades.

Good luck
Mister ED
  • #188
  • Jul 21, 2009 4:42am Jul 21, 2009 4:42am
Quoting aelimian
Thank you. I tried that website and keep getting
FXDD downloaded.
Hi Aeliman

I don't know how to help here. I just loaded my chart direct from the link that I gave and then also loaded MT4 from FXDD. Someone with more technical know how may be able to help.

Looking at my charts now they both show the same time. The only reason that I use FXDD is so that I can get a gold chart. If the times are the same I may transfer everything to the FXDD chart to make life more simple.

All the best

Mister ED
  • #189
  • Jul 21, 2009 5:27am Jul 21, 2009 5:27am
Quoting junja
There are two sorts of EAs one can use. One is the classic one which handles everything - entries, exits, sls, tps ..
The other doesn't do entries but does all the rest - ideal for handling trades when one's asleep or away.
Examples of this latter sort:
- Yannis Sferopoulos' Artemis_Sitter - available in free and commercial versions
- Steve Hopwood's Multi-purpose trade manager - http://www.forexfactory.com/showthread.php?t=89371
- Swiss Army EA. - http://www.forex-tsd.com/expert-advi...anagement.html...
I've used the Hopwood trade manager for a while and it's great. There's a learning curve because there are so many options. I use the hopping jump quite a bit. After 50 pips profit for example the stop moves to break even. After the next 50 pips the stop advances 50 pips. The tool has take profit options, trailing stop options etc. It's invaluable for some of the beakout trading I do and lets me get some sleep.
  • #190
  • Jul 21, 2009 5:35am Jul 21, 2009 5:35am
EURGPB will be probably be a buy when the current candle closes. ATR is 27 pips and the potential signal candle's height is currently 35 pips.

I'm just using IBFX's time frame which is GMT. Mister Ed can chime in here about this, but I don't think that it matters what time reference you're on as far as the system is concerned. Being on GMT+1 is only important for following along with Mister Ed's charts and matching them with your own charts. GMT+1 isn't magic.

(Also I noticed that the previously mentioned USDJPY trade would have stopped out if you had entered on the open of the candle after the signal candle.)

http://i33.tinypic.com/15couvn.jpg
You are in a maze of twisty little passages, all alike.
  • #191
  • Jul 21, 2009 5:38am Jul 21, 2009 5:38am
Quoting 4freedom
I've studied this thread and really like the system. It's clean, simple and can be traded without emotion or subjectivity. Thanks, Ed.

I ADDED a 10 period EMA on the close to my charts and, looking back in history, this seems to filter out the most of the trades that would have lost. Same trade triggers as outlined by Ed with the additional rule on not taking the trade on a new HA candle close unless it also closes above/below the EMA.

Check it out...
4Freedom just curious as to why EMA 10 is a better filter than some other emas? It does look good. Thanks.
  • #192
  • Jul 21, 2009 5:40am Jul 21, 2009 5:40am
Quoting stevegee58
EURGPB will be probably be a buy when the current candle closes. ATR is 27 pips and the potential signal candle's height is currently 35 pips.

I'm just using IBFX's time frame which is GMT.

(Also I noticed that the previously mentioned USDJPY trade would have stopped out if you had entered on the open of the candle after the signal candle.)

http://i33.tinypic.com/15couvn.jpg
Hi Stevee

Looks good so far. Still have over 2 hours until the close of my candle. Hopefully I will be around to take this one!

Mister ED
  • #193
  • Jul 21, 2009 5:41am Jul 21, 2009 5:41am
hi
2 lost trades today until now eurgbp and USDJPY
can anyone confirm to me these trades lost so i know i am not doing anything wrong
thanks
  • #194
  • Jul 21, 2009 5:54am Jul 21, 2009 5:54am
Quoting stevegee58
EURGPB will be probably be a buy when the current candle closes. ATR is 27 pips and the potential signal candle's height is currently 35 pips.

I'm just using IBFX's time frame which is GMT. Mister Ed can chime in here about this, but I don't think that it matters what time reference you're on as far as the system is concerned. Being on GMT+1 is only important for following along with Mister Ed's charts and matching them with your own charts. GMT+1 isn't magic.

(Also I noticed that the previously mentioned USDJPY trade would have stopped out...
EURGBP is very close to R3. Will be interesting to see if it breaks through or bounces back.
  • #195
  • Jul 21, 2009 5:54am Jul 21, 2009 5:54am
Quoting samer960
hi
2 lost trades today until now eurgbp and USDJPY
can anyone confirm to me these trades lost so i know i am not doing anything wrong
thanks
Hi Samer

Yes EURGBP and USDJPY reversed overnight and were losing trades. It's frustrating but it happens. The secret is to keep taking the trades automatically as the system indicates and not to become emotionally attached (easier said than done).

So far according my records I am 25 wins 7 losses this month so it does work, you just need to keep looking at the larger picture.

All the best

Mister ED

(Unfortunately I haven't managed to take all those trades due to work and sleep)
  • #196
  • Jul 21, 2009 5:56am Jul 21, 2009 5:56am
Quoting samer960
hi
2 lost trades today until now eurgbp and USDJPY
can anyone confirm to me these trades lost so i know i am not doing anything wrong
thanks
I lost on them, as well as GBP/USD.
It's been a bloodbath tonight.
  • #197
  • Jul 21, 2009 5:59am Jul 21, 2009 5:59am
Quoting samer960
hi
2 lost trades today until now eurgbp and USDJPY
can anyone confirm to me these trades lost so i know i am not doing anything wrong
thanks
Samer with the eurgbp trade the signal candle hasn't closed. If I understand this system correctly you wait for the HA to change color, wait for the signal candle to close, measure the signal candle and do the ATR calculation and then place the trade if all looks good.
  • #198
  • Jul 21, 2009 5:59am Jul 21, 2009 5:59am
Quoting stevegee58
EURGPB will be probably be a buy when the current candle closes. ATR is 27 pips and the potential signal candle's height is currently 35 pips.

I'm just using IBFX's time frame which is GMT. Mister Ed can chime in here about this, but I don't think that it matters what time reference you're on as far as the system is concerned. Being on GMT+1 is only important for following along with Mister Ed's charts and matching them with your own charts. GMT+1 isn't magic.

(Also I noticed that the previously mentioned USDJPY trade would have stopped out...
Hi Steve

Just saw the comment about GMT+1 I agree it isn't anything special. It happens to fit best with my lifestyle and just happens tobe what I have settled on. It may help that it doesn't coincide with many major release times. However I haven't compared 4 different server times to see if this is the case (it's taken me long enough getting this far!!)

Mister ED
  • #199
  • Jul 21, 2009 6:03am Jul 21, 2009 6:03am
hi

that short trade i lost i just used the ATR value as stop loss . and sl was hit
am i missing something here ?
thanks
Quoting nubchai
Samer with the eurgbp trade the signal candle hasn't closed. If I understand this system correctly you wait for the HA to change color, wait for the signal candle to close, measure the signal candle and do the ATR calculation and then place the trade if all looks good.
  • #200
  • Edited 6:13am Jul 21, 2009 6:10am | Edited 6:13am
Hi All

Not a great night last night but it happens reasonably frequently, the things is that the good days happen more frequently. There will be draw downs with a system like this. It's one for the long term. In my back testing however on the complete list of pairs I have never had a losing month.

Below is the summary I have of my cuurent trades this year

% of trade year 55.81%
%win days94 65%
loss days34 24%
NNT16 11%
Max.2109
Min.-435
Ave.212
ave win day409
ave loss day-186
Projected pips576062
Worst streak-731
last 10 days1352

NNT means no new trade day. Worst streak is the worst run of pip loses that I have been able to find. Projected pips is the annual projected target based on current pips and the amount of the year gone so far.

Take some time to look and digest the figures.

All the best and keep the faith

Mister ED
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