I am from China. I got a new book to descrip the method same to this way. Now i know Kathy Lien and Boris Schlossberg is the writer of this method. Those days i am back testing this method. And i feel it is really profitable stratagy. I am sure about this.
But i think it is necceary to optimize it. such as:
1. trade at best time:
GMT0 30pips
GMT8 6 PIPS
GMT13 80PIPS
TAKE PROFILE method changed to reach average Max. goal like above pips.
This looks like the base to a commercial system that is being talked about in the commercial forum. It is a very vialble system if proper money management is used along with studying the price action. It is also very workable on longer time frames.
I am from China. I got a new book to descrip the method same to this way. Now i know Kathy Lien and Boris Schlossberg is the writer of this method. Those days i am back testing this method. And i feel it is really profitable stratagy. I am sure about this.
But i think it is necceary to optimize it. such as:
1. trade at best time:
GMT0 30pips
GMT8 6 PIPS
GMT13 80PIPS
TAKE PROFILE method changed to reach average Max. goal like above pips.
Any body want to discuss this more deeply?
Sorry for my poor english
Ignored
Oh yes, of course.
I would prefere to go to M15 and H1 only for viewing the global trend, before taking an enter (buy or sell) on M5's.
Kindest regards
The commercial system that is based around this uses price action and a couple of moving averages, I won't name it here for fear of getting a violation. It uses a few other indicators but the terminology of a MO (short for momentum) is used along with the macd. This system as stated here will work on any timeframe you just need to adjust your stop losses according to the time frame. if your not into the lower time frames and have a big enough account 30min, 1h and 4h are also very profitable and for thos who don't have much patience but still want a little longer timeframe 15min works well.
Those days i am still back testing this sys. No doubt! It is profitable in trend market sepecilly there are several setup. That profect!!!
In Feb. 2009. This month: 33 pips for average per day( GMT0 to GMT16).
The loss always happend in ranging market .
But it nearly impossible to know when the trends coming. 80% is ranging! So you have to wait the trend like fishing. Everyday three times oppotunity at least in M5.
33 Pips is the result of my continue optimizing. Such as TP method: I use induction to analysis average extend. Asia:40pips; EUR: 50-80pips; USA:70-120.
Here i want to make clear:
Everyday about 30 pips (watching from GMT0 to GMT16). That is GOOD method or noneffective?
If you can average 30 pips a day for an entire months of course that is considered sucessful. As long as you keep drawdowns low you will be way ahead at the end of a year with a 30 pip per day average as long as you up your lotsize as your account allows you too.
Can anyone help me to modify the indicator from High/Low/Close Channel to become a +-10pip/Close channel.
I wish to be able to view it easier. This method will make money if you manage your trade properly but like all other methods it is impossible to be 100% right.
You can increase your probabilities by taking the trade in the direction of the larger time frame direction
To get an idea about the trend I have the 50 ema. But from other sustems I know that they use the 100 sma or now your recommendation with the 150 thank's.
It is correct that we have to be able to see if there is a trend or a flat market, which means to stay out in flat markets or just scalp with the macd crossing the zero line for 5 pips?! But if we have a trending market or the market is moving strong, we can get very easy our daily profit.
This is a very good system and I like it. I feel very comfortable to take...
Hello, It's nice to hear that you like it too. Macd settings 12,26,9 like in the link in the first post. I am using a different macd which is attached. This one is the standart macd which is on the MT4. This morning some nice moves on different pairs, just stay away from the news. Today we have another news at 8:30. After that I am looking for the crossing of the macd. For everybody who don't know: Check the link for calendar about the daily news on top of the first post. This helped me a lot in the past. Holger {file}
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Can you tell me the settings for MACD which you are using in this system? I'm using Amibroker
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Joined May 2013
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Hi,
If you are studying the strategies from BkForex (Boris and Kathy), give their 15m X-treme fade strategy a look also, fairly simple with sound logic behind it and they are giving it away free also. You might have to sign up for a news letter of something though but hey its free.
just took 20 pips au, slight variation i changed the ema to21( i like fibs) and once i had taken the trade i changed from candles to heiken ashi exiting the trade on change from white to red, heikens keep you in the trade longer and filter out market noise. i use cash spitting indicator ( currency heat map) and simply trade the stongest currency against the weakest, by do this you will avoid trading in a ranging market, and trade a trending pair when combined with this 5 min momo system it seems to work ok
