A simple strategy with no indicators | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

Candles , not indicators - Simple and Effective 11 replies

Most usefull and simple indicators 12 replies

Attachments: A simple strategy with no indicators
Exit Attachments

A simple strategy with no indicators

  • #161
  • Jul 29, 2010 9:12am Jul 29, 2010 9:12am
I also would be keen on an engulfing bars thread, or perhaps a more generalized price action / candle-analysis thread, whichever.

Also, I hate to see this thread running so off topic. Not fair to Ashraf or readers interested in his strategy introduced here.
  • #162
  • Jul 29, 2010 9:38am Jul 29, 2010 9:38am
Quoting whatfx
what is engulfing bars / candles ?
http://www.forexfactory.com/showpost...9&postcount=15

It is what we are trading whatfx, in this instance the body of the candle is larger than the body of the two preceeding candles.
  • #163
  • Jul 29, 2010 9:41am Jul 29, 2010 9:41am
Quoting devogel
I also would be keen on an engulfing bars thread, or perhaps a more generalized price action / candle-analysis thread, whichever.

Also, I hate to see this thread running so off topic. Not fair to Ashraf or readers interested in his strategy introduced here.
My sincere apologies to Ashraf and all.
  • #164
  • Jul 29, 2010 10:03am Jul 29, 2010 10:03am
Quoting jag1966
http://www.forexfactory.com/showpost...9&postcount=15

It is what we are trading whatfx, in this instance the body of the candle is larger than the body of the two preceeding candles.

This set-up does not require engulfing bars.
  • #165
  • Jul 29, 2010 10:09am Jul 29, 2010 10:09am
Quoting whatfx
eur/usd is not a valid set up, as the previous candle was a bull candle.
from my platform, alpari uk, it may be if the candle ends the way it is now. i will demo buy at the begining of tommorrow candle if it ends this way today. mind you diffrent platform will give diffrent signal
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #166
  • Jul 29, 2010 10:27am Jul 29, 2010 10:27am
Quote
jag1966 wrote:
My sincere apologies to Ashraf and all.
No biggie. There was a definite overlap of subject when ashraf posted the example that showed a powerful engulfing bar.

You wrote, "I may start a thread when I have more experience trading these setups." Please don't hesitate. I for one would be keen on following your progress.
  • #167
  • Jul 29, 2010 11:40am Jul 29, 2010 11:40am
Wow, what a dyslexic thread.

If I may make a few comments/suggestions...

ashraf999:

You have a simple, innovative method here. Nice job. I would suggest you post your trades as you see them with your suggested TP and SL and then also keep a running tally of your win/loss percentage and pip count for everyone to see. Then maybe people will quit asking the "how profitable", "which pairs," etc. ad nauseum.

Others:

1) This is a daily method that uses round number levels for TP and SL. If you want to experiment with other timeframes or you want to use other methods of TP and SL, no one is stopping you. But if you have some success with your derivation of ashraf999's method, I think the right thing to do would be to begin a new thread with your idea out of respect for ashraf999, as the nature and profitability of the system will change dramatically when those those parameters are modified.

2) This is not a thread to ask for instructions on how to post charts or what an engulfing bar is or what pivot points are, etc. Sheesh. Look, I realize people have these questions when they're first starting out, but there are many places (both at FF and on the web) where you can get these answers without needlessly cluttering up this thread. Just go to Google and type your question in there.

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #168
  • Jul 29, 2010 12:00pm Jul 29, 2010 12:00pm
Quoting thehenryfam
Wow, what a dyslexic thread.

If I may make a few comments/suggestions...
Well said, Scott!

Moving on, here's yet another indicator. This one marks historical signals in green and red, as well as a prospective white signal on the forming candle.

Thanks goes to KingHigh for much of the original coding.
Attached File(s)
File Type: mq4 SDS_Indy_v1.03.mq4   6 KB | 733 downloads
  • #169
  • Jul 29, 2010 12:05pm Jul 29, 2010 12:05pm
Engulfing Bars are a subset of the signals generated by this system.

This method uses the size of the body (open and close) of the candles.

A Bar is considered an Engulfing candle when the bar's high is higher than the previous candle's high and the candle's low is lower than the previous bar's low.

Check out this link for more ...
http://www.babypips.com/forexpedia/Engulfing_Pattern


In the Attached picture

C is an engulfing Candde to B
C is NOT an engulfing candle to A

This is a valid entry (just based on the candle portion) for this method. Because the Body(in pips) of candle C is bigger than the body(in pips) of candle B
AND the Body(in pips) of candle C is bigger than the body(in pips) of candle A.




Mark
Attached Image
EllisEdi Moving on to my next trade ...
  • #170
  • Jul 29, 2010 3:03pm Jul 29, 2010 3:03pm
Quoting devogel
Well said, Scott!

Moving on, here's yet another indicator. This one marks historical signals in green and red, as well as a prospective white signal on the forming candle.

Thanks goes to KingHigh for much of the original coding.
thank you for the indicator. it will be very good.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #171
  • Jul 29, 2010 3:58pm Jul 29, 2010 3:58pm
To anyone...

Are you ignoring candles that qualify but have big wicks either below and/ or above?


thanks
  • #172
  • Jul 29, 2010 4:47pm Jul 29, 2010 4:47pm
Quoting losingtrades
To anyone...

Are you ignoring candles that qualify but have big wicks either below and/ or above?


thanks
The indicator treats those candles you described just as any other qualifying candle.
  • #173
  • Jul 29, 2010 5:14pm Jul 29, 2010 5:14pm
Quoting losingtrades
To anyone...

Are you ignoring candles that qualify but have big wicks either below and/ or above?


thanks

i think ashraf answered this question previously. no, wicks dont make any difference, unless it is a doji.
  • #174
  • Jul 29, 2010 6:26pm Jul 29, 2010 6:26pm
Quoting adeforex
For those who are confuse about this method, though it is too earlier, but because of the price trend today, i think eurusd, audusd may have a valid setting according to alpari uk if it ends this way today. i will wait until close of todays candle to determine. the trend may continue tomorrow-
only one set up today. aud/usd. long.

i find, with this system, the signals are rare, lucky to get 2-3 signals a week and those could even go against.
  • #175
  • Jul 29, 2010 6:30pm Jul 29, 2010 6:30pm
Quoting ecforex
I have finished a scanner indicator ...

Install it as indicator and run on one screen on time frame of your choice.

It will scann ALL low spread pairs on every new bar .. so if u install it on M15 charts it will scan every 15 minutes. If you change TF it will scan immediately and then every new bar in the new TF ... like H1 ... then it will scan once per hour ..

I ignores the incompleted/last bar completely.

Please remember it scans for the BODY of the candle to be inside the previous bar.

I am also attaching a scanner for the Full candle...
how are these indicators relevant to this system ?

how do i download them onto my igindex platform (u.k.) and get them to work.
  • #176
  • Edited Jul 30, 2010 2:58am Jul 29, 2010 6:56pm | Edited Jul 30, 2010 2:58am
Quoting devogel
Well said, Scott!

Moving on, here's yet another indicator. This one marks historical signals in green and red, as well as a prospective white signal on the forming candle.

Thanks goes to KingHigh for much of the original coding.
I checked out the signals generated by this indicator/system on all pairs and all timeframes; the results were no better than a 50% win rate.

How can you make money with a system that gives only a 50% win rate?
  • #177
  • Jul 29, 2010 7:15pm Jul 29, 2010 7:15pm
Quoting finally
I checked out the signals generated by this indicator/dydtem on all pairs and all timeframes; the results were no better than a 50% win rate.

How can you make money with a system that gives only a 50% win rate?
Same as I've seen running tester with the EA. About 50% except JPY pairs show a little better.
  • #178
  • Jul 29, 2010 8:04pm Jul 29, 2010 8:04pm
Quoting finally
I checked out the signals generated by this indicator/dydtem on all pairs and all timeframes; the results were no better than a 50% win rate.

How can you make money with a system that gives only a 50% win rate?
how have you concluded at 50%, do you have a EA ? what SL, TP you used ? with better RR even 50% winning system could be very good
  • #179
  • Jul 30, 2010 3:12pm Jul 30, 2010 3:12pm
Quoting billbss
This set-up does not require engulfing bars.
Yes that is right
Make It Simple !
  • #180
  • Jul 30, 2010 3:27pm Jul 30, 2010 3:27pm
Hi Ashraf,

Thanks for sharing this system! I really like the simplicity of it!

Leftcoaster
ps. I sent you a PM.
0 traders viewing now