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Weekly Trend Trading Method

  • #21
  • Oct 24, 2009 9:09am Oct 24, 2009 9:09am
Quoting lgtj
Conservative Signal: 2MA cross indicator appears on the weekly or daily chart, both slope indicators must be the same color, the rsi is above/below the 50 line, and the macd signal bar is above/below the signal line. All these conditions must be met at the close of the weekly or daily candle.

Here's an example of a short conservative valid signal (red horizontal line).
Attachment
I originally thought your instructions here meant that all these conditions must be met on the same day the 2MA cross indicator appears. However, it appears that all the conditions for the USD/CAD Short signal were not met until 2 days after the 2MA cross indicator signaled a trade. So, does the 2MA cross indicator just alert you to start looking for the other conditions on that day or later? If so, how many days later would you still consider the 2MA signal valid? For example, if the 2MA signal appeared, and it took several days for the other conditions to appear, do you still consider it a valid trade?
Greetings from Guanajuato, Mexico
  • #22
  • Oct 24, 2009 9:11am Oct 24, 2009 9:11am
Here's a short example on gbpusd daily. The red line is on the signal candle and the red arrows are your target options. This method gave a valid signal before the big move south.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 37 KB
  • #23
  • Oct 24, 2009 9:20am Oct 24, 2009 9:20am
Here's a live trade example that I'm currently in on usdjpy daily. The red arrows are my target options. The candle with the yellow line on it is not a valid signal because the rsi is not above the 50 line. The candle with the red line is the valid signal candle. I'm currently +100 pips on this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 36 KB
  • #24
  • Oct 24, 2009 9:28am Oct 24, 2009 9:28am
Quoting twamta
First of all thanks a lot for the method. Can you quantify and tell us what kind of results should be expected? (Pips per day or per week I mean).

Thanks!
I don't know the answer to that because it depends on the pairs that you're trading and how many positions that you take and close in profit. I will say this though, earlier this week I had five trades open, and I was over 1100 pips in profit thursday nite. The pairs were gbpusd long, gbpchf long, usdjpy long(currently over 100 pips), gbpjpy long, and eurgbp short.
  • #25
  • Oct 24, 2009 9:30am Oct 24, 2009 9:30am
Quoting yen44x
I missed the purpose of the 50 SMA . . . Thanks!
The 50sma isn't really needed, but I like to use it to see how price reacts to it. I also use it to give me an idea of the overall trend. It's up to you.
  • #26
  • Oct 24, 2009 9:55am Oct 24, 2009 9:55am
Quoting lgtj
I don't know the answer to that because it depends on the pairs that you're trading and how many positions that you take and close in profit. I will say this though, earlier this week I had five trades open, and I was over 1100 pips in profit thursday nite. The pairs were gbpusd long, gbpchf long, usdjpy long(currently over 100 pips), gbpjpy long, and eurgbp short.
Obviously it depends on how many positions someone has. I was asking about how many pips/per lot/per pair/per week (or per day). Just an average if you can give me.

Thanks!
  • #27
  • Oct 24, 2009 9:57am Oct 24, 2009 9:57am
Quoting yen44x
I originally thought your instructions here meant that all these conditions must be met on the same day the 2MA cross indicator appears. However, it appears that all the conditions for the USD/CAD Short signal were not met until 2 days after the 2MA cross indicator signaled a trade. So, does the 2MA cross indicator just alert you to start looking for the other conditions on that day or later? If so, how many days later would you still consider the 2MA signal valid? For example, if the 2MA signal appeared, and it took several days for the...
Good question. All of the conditions do not have to be met on the same day. If all the conditions are met on the same candle, get ready to make some money. When the 2ma cross indicator gives a signal, that's when you start to look for a valid signal. If it takes several days for the other conditions to be met, I would look at the macd, rsi, s&r levels, trend lines, and price action before taking a trade.

Let's look at the long signal given on usdcad daily. The 2ma cross indi gave a signal on 10/20/09(yellow line). The other conditons were met three days later on 10/23/09(red line). According to the rules, this is a conservative valid signal, but look at all of the red arrows. There's too much resistance for my liking. Although I have a valid signal, I would not take this trade. Better safe than sorry.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 36 KB
  • #28
  • Oct 24, 2009 10:00am Oct 24, 2009 10:00am
Quoting twamta
Obviously it depends on how many positions someone has. I was asking about how many pips/per lot/per pair/per week (or per day). Just an average if you can give me.

Thanks!
Like I stated in my first post, this method is in its early stages of development. I really don't know the answer to your question. Sorry.
  • #29
  • Oct 24, 2009 10:19am Oct 24, 2009 10:19am
Here's an example of this method on the audusd weekly chart. This method gave a valid signal on one candle, but look at the results. The red line is on the signal candle and the red arrows are your target options.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd weekly.gif Size: 32 KB
  • #30
  • Oct 24, 2009 10:29am Oct 24, 2009 10:29am
Look at this audjpy weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy weekly.gif Size: 33 KB
  • #31
  • Oct 24, 2009 10:37am Oct 24, 2009 10:37am
Here's a trade that I plan to take next week. The yellow line is the aggressive signal and the red line is the conservative signal.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy weekly.gif Size: 36 KB
  • #32
  • Oct 24, 2009 11:13am Oct 24, 2009 11:13am
Quoting lgtj
Good question. All of the conditions do not have to be met on the same day. If all the conditions are met on the same candle, get ready to make some money. When the 2ma cross indicator gives a signal, that's when you start to look for a valid signal. If it takes several days for the other conditions to be met, I would look at the macd, rsi, s&r levels, trend lines, and price action before taking a trade.Better safe than sorry.
Thanks for your response . . . I look forward to giving the strategy a "test drive".
Greetings from Guanajuato, Mexico
  • #33
  • Oct 24, 2009 12:11pm Oct 24, 2009 12:11pm
Quoting yen44x
Thanks for your response . . . I look forward to giving the strategy a "test drive".
You're welcome.
  • #34
  • Oct 24, 2009 12:19pm Oct 24, 2009 12:19pm
System looks good, can't wait to set it up. Any chance you could upload the MACD you are using as I cannot seem to replicate visually with any of those I have.

Thanks
  • #35
  • Oct 24, 2009 12:26pm Oct 24, 2009 12:26pm
Quoting trend lover
which one of stoploose you prefer to use
I prefer to use the recent fractal swing high/low.
  • #36
  • Oct 24, 2009 12:38pm Oct 24, 2009 12:38pm
Hello again Lgtj!

Good looking chats so far...was just curious... The lines you are using for your "approx" SL and TP...is that an Indi or are you plotting those yourself? Seems REALLY useful for this method in getting a gauge on your headroom needed for trades to run. If it is an indi it would be awesome to have in post #1 er..#2.... Either way...looking great so far! Can't wait to get some feeds Mon. Keep up the great work!
  • #37
  • Oct 24, 2009 3:46pm Oct 24, 2009 3:46pm
Quoting lgtj
Like I stated in my first post, this method is in its early stages of development. I really don't know the answer to your question. Sorry.
No worries! Let's find out together. I will follow your method and I will let you know the results!

  • #38
  • Oct 24, 2009 4:24pm Oct 24, 2009 4:24pm
I have been reviewing the charts and your examples of your fib. SL-TP and decided to take a stab at plotting my own.
Are these in the general right areas?

(I understand that the entry is not signaled yet, just seeing if the levels are in the vicinity of your expected profits?)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd sl-tp question.gif Size: 24 KB
  • #39
  • Oct 24, 2009 7:50pm Oct 24, 2009 7:50pm
Quoting dcuk
System looks good, can't wait to set it up. Any chance you could upload the MACD you are using as I cannot seem to replicate visually with any of those I have.

Thanks
Sure. Here's the macd indicator.
Attached File(s)
File Type: ex4 MACD2CHistg.ex4   5 KB | 718 downloads
  • #40
  • Oct 24, 2009 7:56pm Oct 24, 2009 7:56pm
Quoting Mrezoot
Hello again Lgtj!

Good looking chats so far...was just curious... The lines you are using for your "approx" SL and TP...is that an Indi or are you plotting those yourself? Seems REALLY useful for this method in getting a gauge on your headroom needed for trades to run. If it is an indi it would be awesome to have in post #1 er..#2.... Either way...looking great so far! Can't wait to get some feeds Mon. Keep up the great work!
I plot those lines myself with my fib tool. Go to page 2 and read post 20 for the settings. The fib tool is located on your mt4 platform just above your chart.
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