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Trend Follower 5 Minute System

  • #3,381
  • Mar 7, 2010 11:58am Mar 7, 2010 11:58am
Quoting Peretola
Yes gyusz2, IMHO that one wasn't an excellent set up because Guppy was too expanded and a big move (+70 pips) was developed already. I agree with you. Probably, 7 hours before, when we noticed a bounce from the Pivot Level were a good one (not qualified as excellent A+ but almost a good one or less risky trade). Just my two cents!!
well done buddy!
  • #3,382
  • Mar 8, 2010 10:25am Mar 8, 2010 10:25am
Hi.

Often I have the problem that the rainbow seems to be too expanded due to the pricescale with a narrow interval of 2 pips e.g. Particularly after a bigger movement and less volatility following. Any advice? Using a fix scale? Thanks.
  • #3,383
  • Mar 9, 2010 8:59am Mar 9, 2010 8:59am
Peretola, or anyone else here: Hello! I just discovered this thread last night, and started reading; it's very interesting. Unfortunately, the links for the manual or rules guide are not working in the early portion of the thread. Can anyone direct me, as such is also not included among the posted files. I'm anxious to learn more, and I don't want to bother anyone with basic questions. Many thanks - Steve
  • #3,384
  • Mar 9, 2010 9:23am Mar 9, 2010 9:23am
Quoting StephenS
Peretola, or anyone else here: Hello! I just discovered this thread last night, and started reading; it's very interesting. Unfortunately, the links for the manual or rules guide are not working in the early portion of the thread. Can anyone direct me, as such is also not included among the posted files. I'm anxious to learn more, and I don't want to bother anyone with basic questions. Many thanks - Steve
Read and discover:-) I think Page 190-191 Pilatus little education is very-very good for you (and everybody).
(Sorry, if my english knowledge is not so good.)
  • #3,385
  • Mar 10, 2010 5:29am Mar 10, 2010 5:29am
Well. i must say i have tested this system for a few months now, and its fairly successful, but the trades are far and few and requires constant monitoring.

So i would just like to ask a few questions about it:
1) are people finding the trade far and few like me?
2) do you feel you have to monitor the chart?
3) how many pairs are you monitoring? because quite frankly one pair will not make you much.
  • #3,386
  • Edited 4:39pm Mar 10, 2010 4:27pm | Edited 4:39pm
Quoting StephenS
Peretola, or anyone else here: Hello! I just discovered this thread last night, and started reading; it's very interesting. Unfortunately, the links for the manual or rules guide are not working in the early portion of the thread. Can anyone direct me, as such is also not included among the posted files. I'm anxious to learn more, and I don't want to bother anyone with basic questions. Many thanks - Steve
I'm preparing a summary with the most important posts of this thread. You can find the manual and Trend Follower FAQ here: http://www.bustathief.com/earn-money...rend-follower/

This system can offer to you 2 or 3 good signals (A+) per week (on 24 hours time). Trading Time from EU open until US close. I personaly follow these 5 majors pairs: EUR/USD, USD/CHF, USD/JPY, GBP/USD and EUR/JPY. So in this case you can expect 10 or 15 good signals per week. If you sleep 8 hour a day and have family and other stuff to do with (like me), then you can catch 5-7 good signals a week. And every good signal can offer to you +35 to +60 pips average, it depends on your trading style.

I follow my screen as muchas I can. It is very useful to dealing with Trend Lines, Pivot Points, S/R, Round Numbers, PA and a good MM. I start every day (06:00 GMT) watching my Daily chart checking the main trend and PA. Then I open my M15 with the Pivot Points and finally my M5 with the template of the Trend Follower System.

The most important problem for me is that I have full time job... and I can't follow very often my charts the most of the time... I assure you that it is very frustrating come back home after a work day and find on your screen 2 or 3 good signals lost away. During asian sesion you can find some good trades also (I'm sleeping...zzzz). Sometimes I think that it would be a good idea to create a group of people to monitor the charts together and send a sms each others during a day in order to obtain all the good signals. Some suggestion about that?
I'll post the next week the summary for all of you.
Regards
  • #3,387
  • Mar 11, 2010 1:57am Mar 11, 2010 1:57am
Do you not use the signaltrendfollower+snapshot EA? I believe it is very useful.
  • #3,388
  • Mar 11, 2010 4:20am Mar 11, 2010 4:20am
Quoting gyusz2
Do you not use the signaltrendfollower+snapshot EA? I believe it is very useful.
Yes, of course...
  • #3,389
  • Edited 10:46pm Mar 11, 2010 10:13pm | Edited 10:46pm
First, I want say thank you for the link to the user guide. I love your system, and look forward to seeing if there's a way to find more trades. But first, I want to make sure I understand your trading rules...

In the above chart, I do see a buy being set up, as the bias is positive, the signal is the first buy after the breakout, LRSI and MACD looks good. I hope I'm right!! Thanks again!!! - Steve

Whoa! Where did that chart go? Oh well, just ignore this post. Thanks!
  • #3,390
  • Mar 12, 2010 2:53pm Mar 12, 2010 2:53pm
Huh, this morning: very good signals on EU and EJ.
  • #3,391
  • Mar 12, 2010 4:37pm Mar 12, 2010 4:37pm
In both cases the key was so clear: a narrow previous formation of the GMMA Guppy before signal arrives... The same case for the EURUSD at 07:45 GMT. So 3 good signals during this morning.
EURUSD +92 pips max profit
USDCHF +89 pips max profit
EURJPY +104 pips max profit
Total +285 pips
I didn't take these because of work time...
If you were trading this morning the above three pairs with a Trailing Stop, you probably would have taken only the 70% aprox. of the total amount= +199 pips. wow... Not bad for today isn't!! (usually fridays is not a good day for trading). Follow the rules, be patient and you'll be rewarded...
Good week-end buddies!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHF,M5-12032010.jpg Size: 149 KB
Click to Enlarge Name: EURJPY, M5-12032010.jpg Size: 148 KB
  • #3,392
  • Mar 14, 2010 1:03pm Mar 14, 2010 1:03pm
[quote=Peretola;3547894]In both cases the key was so clear: a narrow....

EurJpy 8:40 : better signal than the first one, no?
  • #3,393
  • Mar 14, 2010 4:25pm Mar 14, 2010 4:25pm
welcome everyone, just registered this very useful forum, already learned a lot

@gyusz2
but at 8:40 the first bar after signal is red, so not confirmed
  • #3,394
  • Mar 15, 2010 3:47am Mar 15, 2010 3:47am
Quoting fofo
welcome everyone, just registered this very useful forum, already learned a lot

@gyusz2
but at 8:40 the first bar after signal is red, so not confirmed
But the second bar already good, and the bar after first signal is a doji. I think candlestick and candlestick formations illusive many times on 5 min timeframe.
  • #3,395
  • Mar 15, 2010 2:44pm Mar 15, 2010 2:44pm
Interesting system indeed.

Just wondering if anyone shorted this pair....looks like a vaild signal:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 117 KB
  • #3,396
  • Mar 16, 2010 3:54am Mar 16, 2010 3:54am
Quoting candletrader
Interesting system indeed.

Just wondering if anyone shorted this pair....looks like a vaild signal:
This is not a good signal. Please read back.
  • #3,397
  • Mar 19, 2010 11:22am Mar 19, 2010 11:22am
http://cdn.forexfactory.com/images/icons/icon6.gif Maybe we can bend the rule a little bit by looking at higher tf. Nothing is perfect but the rule hold the key. Wicker rule is very good. http://cdn.forexfactory.com/images/icons/icon14.gifhttp://cdn.forexfactory.com/images/icons/icon14.gifhttp://cdn.forexfactory.com/images/icons/icon14.gif
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 20100319.jpg Size: 198 KB
  • #3,398
  • Edited 11:51am Mar 20, 2010 11:31am | Edited 11:51am
Hi to everybody on this great thread and thanks to all the contributors.

This is my first post. I would like to submit a couple of ideas to the group.

I have been studying and testing this system with the trade simulator since a while now and one day I decided to use some of the great ideas of Cobraforex used in the THV4 system. Not to enter the trade but to exit it.

In my chart I have added the Ichimoku Kinko Hyo and the Haiken Ashi.
I am testing the system with GBP/USD on M5.

What I noticed is that if I exit the trade when:
1 HA gives sign of reversal
2 PA enter the Ichimoku cloud and close a bar into the could or cross it
I seem to be capable not to exit too early or to minimize the losses in case of wrong trade.
When testing I usually take part of the profit at pivot or s/r, set the stop at BE and let a part of the trade (1/2 or 1/4) untill rule 1 and 2 are met.
with normal candlestick I tend to exit too early. HA is much clearer to me to understand when a trade is over. If I add the cloud then I feel even more comfortable.
There are cases when HA shows a possible reversal but PA is not in the cloud. In that case it let it run.


I also use the same rule 1 and 2 to exit a wrong trade instead of a fixed stop loss. I loose few pips or exit at BE and wait for another signals. I think this helps to minimize losses in case of the few wrong signals I get on GBP/USD.

I have attached an example of great signal and my chart set up.

I woudl like to receive some feedbacks.
I am not live with this strategy. Just testing on the simulator.


Thanks again to all for this system.

BTW, I also use the cloud to visually confirm and entry. When a bar clearly closes above for long or below for short after crossind the cloud it gives me a bit more confidence on the trade. But this is more a visual aid rather then a fixed rule.
Attached Image (click to enlarge)
Click to Enlarge Name: tr_f.gif Size: 36 KB
  • #3,399
  • Mar 21, 2010 3:11am Mar 21, 2010 3:11am
Quoting pulluca
Hi to everybody on this great thread and thanks to all the contributors.

This is my first post. I would like to submit a couple of ideas to the group.

I have been studying and testing this system with the trade simulator since a while now and one day I decided to use some of the great ideas of Cobraforex used in the THV4 system. Not to enter the trade but to exit it.

In my chart I have added the Ichimoku Kinko Hyo and the Haiken Ashi.
I am testing the system with GBP/USD on M5.

What I noticed is that if I exit the trade when:
1 HA gives...
Hello!
On your example can you please mark signal candle or candle of entry and stop loss please??? And show us how many pips is your stop loss from entry???
  • #3,400
  • Mar 21, 2010 9:11am Mar 21, 2010 9:11am
Quoting pulluca
Hi to everybody on this great thread and thanks to all the contributors.

This is my first post. I would like to submit a couple of ideas to the group.

I have been studying and testing this system with the trade simulator since a while now and one day I decided to use some of the great ideas of Cobraforex used in the THV4 system. Not to enter the trade but to exit it.

In my chart I have added the Ichimoku Kinko Hyo and the Haiken Ashi.
I am testing the system with GBP/USD on M5.

What I noticed is that if I exit the trade when:
1 HA gives sign...
This is a news man...
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