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EUR/GBP Trendmagic System

  • #4,641
  • Jul 29, 2010 9:22am Jul 29, 2010 9:22am
Rossobonks, I'm a bit wary of adding indicators to my chart, but if you say you're having success with Stochastics when it comes to reentries, then I'm gonna have to take your word for it. I'll give it a try and let you know what happens.
If you don't risk, you don't ever have to lose.
  • #4,642
  • Jul 29, 2010 9:34am Jul 29, 2010 9:34am
I know what you mean Im trying to keep this strategy simple as possible without adding further indicators. I use a stoch in my other trading strat - I doubt I will keep it on the chart using this strat and would rather use the 1m chart to regain entry into a 5min trend.

D
  • #4,643
  • Jul 30, 2010 12:25am Jul 30, 2010 12:25am
Hi Paulas
I have tried your system and i like your basic system here,all other indicators Tudor girl has added in my opinion made it not better.

anyway for asian hours you have some indicator here,and i think has wrong setting for asian market open and close.am i correct?
Because it shows 22.00 GMT asian mrket open and 6.00 am closed.
can you please inform me how to adjust it.
thank you
Fred
Quoting Paulus
Had alot of mails about this

Its all basic stuff I like basic

I will inc my template and the indicators

Chart - 5 min
TG HG 0001a 5,15,30 min
TM CCI 50 ATR 5
ant-GUBreakout just there to show me the Asian market.
Clock v 1.3 Shows Broker time ,Tokyo,London,NY time,local time,GMT.
In Common tab make sure you tick both boxes for it to work

Short

5 min goes red and matches either the 15 or 30 min
Price below TM which will be red

Long

5min goes blue and matches either 15 or 30 min
Price above TM which will...
  • #4,644
  • Jul 30, 2010 12:50am Jul 30, 2010 12:50am
Quoting Paulus
This is the original TM set up with BB MACD

I use the TM slightly differently and will update tomorrow it gives far less false signals in chop

The vertical red line is 8am UK my start time on all trading..

Paulus
Hi Paulas
are you still trading EUR/GBP as it says in post one or you do other pairs too?
regards
Fred
  • #4,645
  • Jul 30, 2010 4:20am Jul 30, 2010 4:20am
Quoting bug
Look, I'm not trying to stir up emotions in here, but I'm not looking for some sort of fartherly figure to tell me that PA is the real shit.
Sorry Bug, it is worse than that, I thought that I was in the Craig Harris thread and that you were a beginner at that.

My apologies,
  • #4,646
  • Edited 5:43am Jul 30, 2010 5:41am | Edited 5:43am
Quoting fredgold3434
Hi Paulas
I have tried your system and i like your basic system here,all other indicators Tudor girl has added in my opinion made it not better.

anyway for asian hours you have some indicator here,and i think has wrong setting for asian market open and close.am i correct?
Because it shows 22.00 GMT asian mrket open and 6.00 am closed.
can you please inform me how to adjust it.
thank you
Fred
Well, Paul did attach the template in the first post, you know. Have you tried that? Alternatively, if it doesn't work, let me know and I'll post a new template. Also, if you are having trouble with determining market hours, have a look at this: http://www.forexmarkethours.com/markethours.php
Just for the record, right now Britain is on DST (GMT +1), which means that London opens 7 GMT, so the Asian box should be from 23:00 to 07:00 GMT.

Paul, I don't want to answer all your questions for you, but this is really basic stuff and I feel like I can take care of it while you're gone. Hope this is OK with you.

Quoting Phreddy
Sorry Bug, it is worse than that, I thought that I was in the Craig Harris thread and that you were a beginner at that.

My apologies,
No worries, mate. Apology accepted.
If you don't risk, you don't ever have to lose.
  • #4,647
  • Jul 30, 2010 6:04am Jul 30, 2010 6:04am
sorry guys been busy and suffering from the lack of volatility..just been setting up another MT4 with some daily systems and it all takes time


Bug no worries .. and thanks

I trade eurusd and eurgbp


still tracking the daily trade on eurusd and looking good

cheers

P
  • #4,648
  • Jul 30, 2010 6:08am Jul 30, 2010 6:08am
You'll get your volatility back in 1 hour and 22 minutes. Have a look at the calendar.
If you don't risk, you don't ever have to lose.
  • #4,649
  • Jul 30, 2010 6:12am Jul 30, 2010 6:12am
Quoting bug
You'll get your volatility back in 1 hour and 22 minutes. Have a look at the calendar.
bug where do u get your news from ?

P
  • #4,650
  • Jul 30, 2010 6:34am Jul 30, 2010 6:34am
Quoting Paulus
bug where do u get your news from ?

P
This particular one is actually from the FF calendar - if you look at 12:30 GMT, you'll see this:
CAD - GDP m/m
USD - Advance GDP q/q

Both of them are RED events. Since there has been a lot of talk about the possibility of a double dip recession in the States, all eyes will be on the GDP figure. The ECRI Weekly Leading Indicators have been showing sings of slowing for quite a while now and quite a few people have 'predicted' another dip so this release will be of key importance. The US stock markets have already been very weak and weakening still since the end of April. IMO the GDP is 'make of break'.

The Canadian figure should also bring some volatility, because it is a commodity currency and their figure should help gauge the appetite of China and other emerging economies for raw materials. Also, there have been some signs that the Canadian economy is beginning to slow its ascent. All of this is from a variety of news sources, but for trading, I primarily use the FF calendar.
If you don't risk, you don't ever have to lose.
  • #4,651
  • Jul 30, 2010 6:53am Jul 30, 2010 6:53am
Hi Bug I have FF set to match my PC time plus we are GMT+1 atm so my time for those events says 2.30pm..

is that right do you think ??

P
  • #4,652
  • Jul 30, 2010 6:56am Jul 30, 2010 6:56am
Quoting bug
Paul, I have a question for you concerning reentries. The two trades that I posted before, the EU and the EG, were reentries into the London open. As I outlined in my post, they were taken to 'test' the reentry. I have now taken another look at possible reentries and I have a chart with a question. As my experience told me, it is not wise to reenter into an existing trend at the open. However, would a reentry after point nr.3, when the candle closed below TM been a signal that you would have considered taking? The same setup was visible on...
I have looked at this as a re entry point many a time..idealy I like TM to change colour as this shows a stronger pull back against the current trend as shown by the BB macd.

The worry with this dipping in and out approach is that your last entry will always prove to be a loser since the trend dies

I would possibly do it once esp after the inital open of either 8am or US at 2.30pm..I wouldnt use it to re enter a trend apart from that

cheers

P
  • #4,653
  • Jul 30, 2010 7:02am Jul 30, 2010 7:02am
Quoting Paulus
Hi Bug I have FF set to match my PC time plus we are GMT+1 atm so my time for those events says 2.30pm..

is that right do you think ??

P
Now you're getting me all confused. Let me think. My local time is 15:02 and I've set the FF calendar to fit that, which means that in local time, the GDP release should be published at 15:30. Estonia is GMT+2 but since it's summer, we have DST, which adds another hour.
Estonian time GMT+3 in the summer
GDP release in Estonian time 15:30
GDP release in GMT time 15:30 - 3 = 12:30

Any way you look at it, the figures should be published in 28 minutes.

Does that help?
If you don't risk, you don't ever have to lose.
  • #4,654
  • Jul 30, 2010 7:06am Jul 30, 2010 7:06am
Quoting Paulus
I would possibly do it once esp after the inital open of either 8am or US at 2.30pm..I wouldnt use it to re enter a trend apart from that
That's all I need. I'm not looking to reenter all throughout the day. Just once at the open if the conditions are met.

Thanks,
Chris
If you don't risk, you don't ever have to lose.
  • #4,655
  • Jul 30, 2010 7:34am Jul 30, 2010 7:34am
Quoting bug
Now you're getting me all confused. Let me think. My local time is 15:02 and I've set the FF calendar to fit that, which means that in local time, the GDP release should be published at 15:30. Estonia is GMT+2 but since it's summer, we have DST, which adds another hour.
Estonian time GMT+3 in the summer
GDP release in Estonian time 15:30
GDP release in GMT time 15:30 - 3 = 12:30

Any way you look at it, the figures should be published in 28 minutes.

Does that help?

hehe...er.... em...... hmmmmm

P
  • #4,656
  • Jul 30, 2010 7:36am Jul 30, 2010 7:36am
Well anyway, the figures are out now, published 5 minutes ago. If it's 14:36 where you live then your settings are just fine.

EDIT.
I heard volatility is back too.
If you don't risk, you don't ever have to lose.
  • #4,657
  • Jul 30, 2010 8:16am Jul 30, 2010 8:16am
Hi,

I'm a newbie.., came across this system just now.. Will be reading it. Thanks a lot
  • #4,658
  • Jul 30, 2010 8:36am Jul 30, 2010 8:36am
Ive spent a week with this strategy now and observed trades taken on the 5m and then reentrys taken on 1min with the 5m trend. With a good understanding of PA you can really make this work for you whilst keeping trading very simple indeed.

Been a few very flat days this week ( I suspect more to come over the next few holiday weeks) with a little of bit of chop giving a few false signals but once volume/volatility pick up at certain times of the day you cant fail to profit a couple of % each move.

EU today has been awesome right from the word go.

D
  • #4,659
  • Jul 30, 2010 8:53am Jul 30, 2010 8:53am
yes I looked into the 1min some time ago..its good for a quick in and out ie if you have 2hours only then try the 1 min..its also better in low volatiity periods are the losses are smaller

Today on the 1min I have

+39-4+37+14-13 and long from 1.3023

The only extra rule that I find on the 1min helps with chop is that when the signal is given the candle must be above the TM for longs and below the TM for shorts

cheers

Paulus
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  • #4,660
  • Jul 30, 2010 8:54am Jul 30, 2010 8:54am
P
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