Very Profitable System - Roi system

Hey ROI, the SL would be the dotted blue line or the stairs-like blue line?

fx358

It appears that you are taking the trade signal when the PA crosses the blue line. I suggest you read the original rules set by ROIf. The trade is triggered when PA crosses the blue or red dots (S/R line), not the MA blue line.

Hello,

no, I take the trade when the course crosses the blue dots plus 3 pips. You can see in the gbpusd attachement with a trade I've done this morning. The black beam is my entry

My biggest problem is with the little spikes just a view pips over the blus/red dots and then retracing. At this moment I try to trade with a buffer of 3 pips upper/below the dots.

The other thing is this system only works in trending markets. On days with sideranges you lost money.

Whats you experience?

Yours fx358

Hi fx358
I thought the red vertical line on your previous chart posted was a trade. Sorry - got that wrong.

I think you are right about the sideways action being less profitable. I have a couple of other indis to try and keep me out of trades unless there is good trending movement. I also look to trade in the direction of the blue MA line. I have not yet found a good SL strategy. Those spikes can sometimes result in PA going back and stopping out if the SL is too tight. On the other hand, I try and exit if the trade is obviously going against me.

The biggest problem I have is missing the opportunity. I never seem to be in the right place at the right time when the cross occurs so by the time I see the trade, it has already moved too far and the trade would be riskier. I only set my TP at 12 pips so I do not need to get much movement to have a successful trade. On the other hand, if I set the SL too far away, the R:R becomes excessive even with a high strike rate.

It would be a big help if we had an alert when a trade is signalled or better still, an EA to take the trade when it occurs. This is something ROIF wanted when he started this thread. Does not seem to have attracted any coders to have a go. Pity!

Hi scartree,
all the things you wrote are right and also my problems every day. I hate the spikes because they costs me a lot of money in the last year. Thats why I try to trade 3-5 pips higher then the dotted line.
I'm not sure if a alert is consider its best. I think when a little trend is moveing than it's realy fast, so I prefer to work with pending orders. If I watch the 15 min. chart I always take a look every 15 minutes so I'm able to see new chances for trading.
In my opinion is the best SL done by very good MM. When you try to reach only 12 pips you are able to go in the trade with a bigger lot size, on the other side you must reduce the loosing risk with a tight SL.
A couple month before I wrote a very interesting article about strategies in trading. One of them told us that if you have a lot of winning trades in a trading strategy with 12 pips TP (around 75-80%) its o.k. to set the SL around 20 pips. If your winners ratio is lower you will loose money.
Did you have backtested the ROIF strategy in other timeframes?

fx358

No I have not backtested the strategy at all. I have never learned how to do it because I have read so many times that the results of backtesting cannot be trusted. I always test by trading forward with demo account and then move to live in a micro account. I prefer the M15 TF as it suits me. I get enough action but it is not too stressful such as very short TF can be. I also trade ES mini S&P500 and try to get 3-4 tics in a session. Each tic is $12.50 so trading 3-4 contracts can be a quick way to be done for the day.
I really like this strategy and hope we get more people interested so it can be improved and hopefully even have an EA to assist. I am not a great supporter of EAs - I have tried many with poor results. They all seem to end up wiping out any gain that may have been made. With some filters and restricted hours to trade, I think this strategy can be traded mechanically for profit.

sorry to sound silly, but what do you mean by "refresh"?

you mean repaint, right?

backtesting is only good to see whether an EA is working as it should or not but as for the dependability of the result, it carries a big question mark. the best way is to forward test on a micro account, if its good you see if its not you see.

I trade roif system on 15m TF and I go for 30 - 40 pips per trade which EU has given me today. look for trade around UK and US open

If we can get a coder interested in it, I think it would be worth the while, because its a basic strategy like the TLB, R & S, and the like. this strategy will work the same way Trendline break works all the time because this points are been monitored by many traders and many EAs that get large orders in at the break of those levels.

Just for a glance switch to 4hr TF and put your MTF SR at daily(1440) and see big moves catcher

the attached trade is the EU trade for the day just got out for 40 pips at UK open. I put sell and buy stop orders and the sell trigered

What S/R indi are you using and what setting.

MTF SR by ROIF. setting is to show 1hr R & S

period_1 60
period_2 60
period_3 60
period_4 60

kos

Hi scartree,
how many pairs did you watch and how many hours a day did you trade?

For me is the normaly day that I start looking signals early in the morning (around 7 o'clock because I have to prepare breakfast for my daughter) after that I watch the charts till noon. After a 2 hours break I start again after the important dates are comeing, mostly till 5pm.
This is a 100% trading day which is not every day.

For the ROIF signal I watch 8 different currencies: eu, ud,uj,gu,uch,au,nu, gj

Fx358 - Have a look at my post 52 - I look at 12 pairs but some of the spreads are at times quite stupid and I don't bother with them. Normally, anything more than 4 or maybe 5 pips spread is too much for my scalping method. Unless we can get an EA going here, I think I will reduce the number of pairs I watch as it gets too much. I tend to only run 1 trade at a time so that when I get a signal, I max that chart and do the work before looking for further opportunites. I plan to try Kosomolates TP and see if that is more profitable than my 10-12 pips trades.

Kos - is that S/R indi the #MTF_SR. Do you have to refresh it manually? I have been using the Support & Resistance indi which is not MTF but seems to work OK for M15 TF

Hi Kos, what other settings or indicators did u have? Does urs need to refresh? mine need to refresh for the MTF SR.. i have already switch to ur setting for MTF SR to 60 and look at 15 Mins TF

hi all, is my strategy wrong? go short for USDJPY when it crosses the support. Please see attached... thanks

KPForex,

I'm also short in uj with a pending order but my short entry is at 90,78 because I see a support line at 90,81

As I payed some money in loosing trades because the order starts at a support line an then comes a retracement I set my entry 3-5 pips under such lines.
You can see my pending order in the attachement and the support line (pink)
The above dashed red line is my SL and the down dashed line my TP (12 pips)

Uuups,
here is the attachement

I dont have any other indi with it, look at my charts, in fact I removed the arrows, dont have any need for them. the blue line is for SL

The MTF SR does not refresh

I can use the sr_KG_support_and_resistance because I can edit the code to show 1hr R & S on 15min TF. because that one by KG refreshes by itself.

EJ = +40 pips
EU is on post it later

see the chart

Hi Kosomolate,
maybe there is a misunderstanding. The pink supportline in my chart isn't a indicator this line is drawn into the chart by myself.

congratulation for the 40 pips in ej

I never referred to the line in your chart. there is another S&R indicator written by KG that refreshes by itself. so there is no misunderstanding.

Hold on to the UJ trade I believe it would soon drop and congratulations in advance for that too.

kos

GJ going towards the bus stop to deliver my 30 pips to me

I hope it makes it to the destination, but time will tell

kos