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Trend Follower 5 Minute System

  • #3,501
  • Jul 23, 2010 9:07pm Jul 23, 2010 9:07pm
I usually check my SL with the ATR settings to ensure that if it retraces quickly I do not get stopped out. As it moves into a "safe zone" i then move it to break even.
  • #3,502
  • Jul 27, 2010 8:33am Jul 27, 2010 8:33am
Today's trade on gbp/jpy, I've decided to take it, although with some doubts. Turned out to be magnificent mainly because of very positive news for british pound. I moved stop loss to b/e right before them, and waited. Anyone else took it? Do you always strictly avoid trading, before and after the news, or you have some fixed time, for example 20-30 minutes? I'm not sure but i remember someone (pilatus maybe?) mentioning that he stays out of the market only for news that are marked red on the ff main page. If that's one way to do it then this long on gbp/jpy would be proper, because those news were marked orange. Isn't one thing trading right after news, when the market is unclear and other thing entering before, to get the best position and catching the eventual big move?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 27.gif Size: 34 KB
  • #3,503
  • Aug 1, 2010 10:01am Aug 1, 2010 10:01am
Quoting TheWicker
I have been a forex trader since more years. From time to time I still trade, but my trading times have increasingly droped since I feel its more and more boring waiting for the market to give you a proper signal all day. The main reason why I am writting this article is because I do not like to sit behind my desk all day. So I have deiceided to give it to all of you who want to benefit from it. Price for my system was three hundred dollars, but due the relativity of success in the forex market I now have deiceided to give away my system information...








Hi wicker ,

I have been reading your rules of the system but are unable to downlooad and put it on the m4 platform, help plz
  • #3,504
  • Aug 5, 2010 6:17am Aug 5, 2010 6:17am
is this a good entry?
Attached Image
  • #3,505
  • Aug 5, 2010 1:14pm Aug 5, 2010 1:14pm
Quoting 41413592
is this a good entry?
Yea, its fine for me. I just hope the signal candle is not too big, so the s/l could be small. I would have taken it.
  • #3,506
  • Aug 6, 2010 4:33am Aug 6, 2010 4:33am
There must be some problems with the indicators.
For example, the up/down arrows should represent EMA crossovers, therefore we must always have up and down arrows alternating.
But sometimes it happens that we see on the chart two consecutive up arrows or two consecutive down arrows.
Therefore, either the indicator is buggy or it repaints.
Anyone else noticing this?
  • #3,507
  • Aug 6, 2010 3:25pm Aug 6, 2010 3:25pm
Quoting siraad
Hi wicker ,

I have been reading your rules of the system but are unable to downlooad and put it on the m4 platform, help plz
Siraad,

did you try to download and use the content of zip file attachment dec 08, 2008?

josch
trading is war - life is simple
  • #3,508
  • Aug 6, 2010 4:19pm Aug 6, 2010 4:19pm
Just subscribing to threads I'll look into over the weekend
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #3,509
  • Aug 7, 2010 3:03am Aug 7, 2010 3:03am
Quoting asasa
There must be some problems with the indicators.
For example, the up/down arrows should represent EMA crossovers, therefore we must always have up and down arrows alternating.
But sometimes it happens that we see on the chart two consecutive up arrows or two consecutive down arrows.
Therefore, either the indicator is buggy or it repaints.
Anyone else noticing this?
Post some examples. Sometimes happen that we have arrows on chart where they should not be. To solve this issue simple go to chart/indicator and click on ema crossover to edit and then click ok ..ok ....ok and everything will be ok. Hope I helped, if I did not, give as examples please.
  • #3,510
  • Aug 7, 2010 8:57am Aug 7, 2010 8:57am
This system will definitely work well. I used it to compare my M5 trendline trading style and they confirmed each other. I'll just add this as further confirmation. This business loves confirmations

PreCap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #3,511
  • Aug 8, 2010 3:59pm Aug 8, 2010 3:59pm
Quoting pilatus
Post some examples. Sometimes happen that we have arrows on chart where they should not be. To solve this issue simple go to chart/indicator and click on ema crossover to edit and then click ok ..ok ....ok and everything will be ok. Hope I helped, if I did not, give as examples please.
There are lots of examples.
A few seconds to find the following...
Attached Images
  • #3,512
  • Aug 11, 2010 4:58pm Aug 11, 2010 4:58pm
Dear tf5min traders. I will post recent examples of how to evaluate good trades. As usually I will examine eur/usd. Today and this week particulary, we had few short signals which were textbook examples of low risk trades. As I posted in earlier posts I am paying much attention on support and resistance levels, especially market behaviour where support and resistance changes their roles which is one of the most important behaviour in TRENDING markets.
First thing that we should do in analyzing is to answer the queastion, why short signals are good when we have all the time in last 2 months long trend.??? So, why would someone go short when long trend is present?
Look at the first picture.
Well to answer that question we must study higher time frame and do some research. So look at daily eur/usd. On chart we can see that we have long trend started in early June, BUT fibo tells us that price 2 days could not break 78.6 fibo retracement( white circle) which is first sign that long trend is near the end or at least it could break for a while. Next we have a very nice wedge pattern which indicates and confirms fibo that long trend is near the end too. Lastly we had 2 very strong news anouncement which were very positive for euro but nothing specially happen. So conclusion is, eur/usd is ready to drop for some points. Ok now we have clear signals that shorting eur/usd is good trading decision.

Now we will examine which signals were good and why especially today. Why todays signals was so called "low risk trades".
Ok, first I have intentionally removed pivot points to make clear picture. So, today we had 2 very low risk short signals. If you make a closer look on chart (second picture) you can see that first legal signal is marked with red vertical line and green number 1 etc. What is obvious is that support once broken become resistance and immediately after that we get our short signals( support is for first green signal lowest price level of previous day). Although stop loss in both cases was about 25-30 pips that was low risky trade because price intended to move lower and obeyed previous support level as nice resistance to rebound from it and continue to lower prices without any intention to retest those levels once more.
So those 2 signals are perfect examples what signals we should look for. Those 2 signals are pure TREND FOLLOWER signals. And for all of them who are asking themselves every day what happen and why it didn't work those examples must be in their minds all the time. This is what we are looking for in trading. Unfortunately those kind of signals are not happening every day, for them we need to have confirmation and common sense, but it is very easy to spot them once they occur on chart.
Happy trading!!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 32 KB
Click to Enlarge Name: eu2.gif Size: 61 KB
  • #3,513
  • Aug 11, 2010 5:37pm Aug 11, 2010 5:37pm
hello from greece !!
the last 3 days i am testing the system and reading the thread !!
all looks good !
keep up the good work !!
  • #3,514
  • Aug 11, 2010 7:22pm Aug 11, 2010 7:22pm
Greetings everyone, I'm a brand new forex operator and in my first and a half month I've been doing it quite wrong, at first I opened positions with over-leveraje and non taking the right profit. Now days I've only see my account going down. So I was wandering if someone can please guide me troguht all these process of becoming a regular trader.

Any advice, suggestion or help will always be welcome.

Regards Raphael
  • #3,515
  • Aug 12, 2010 3:52am Aug 12, 2010 3:52am
Quoting Rafx
Greetings everyone, I'm a brand new forex operator and in my first and a half month I've been doing it quite wrong, at first I opened positions with over-leveraje and non taking the right profit. Now days I've only see my account going down. So I was wandering if someone can please guide me troguht all these process of becoming a regular trader.

Any advice, suggestion or help will always be welcome.

Regards Raphael
Wrong thread if you want to learn how to trade. Next, I recomend you to read 2 books at least, first one is "mind over markets" second one is "forex conquered". There you will find valuable information what is forex and how to trade it. I mean there is a pelnty of books but you can read too" how to bit a forex dealers".
Just read a lot and you will find what you need.
  • #3,516
  • Aug 12, 2010 6:45am Aug 12, 2010 6:45am
I want to share the EA I have written for this system.
Feel free to post suggestions to make it profitable.
Please read and follow carefully the instructions in the source code of the EA.
Excerpt:

Inserted Code
//+---------------------------------------------------------------------------------------+
//|                               Trend Follower Wicker, Expert Advisor for MetaTrader 4  |
//|                                           Copyright © 2010, asasa, [email protected]  |
//|                                         Original concept: TheWicker on Forex Factory  |
//|                               Ref: http://www.forexfactory.com/showthread.php?t=40325 |
//|                  Ref: http://www.bustathief.com/earn-money-with-forex-trend-follower/ |
//+---------------------------------------------------------------------------------------+

// EA info:
#define EA_NAME_VERSION "Trend Follower Wicker v1.0.0"
#property copyright     "Copyright © 2010, asasa, [email protected]"
#property link          "[email protected]"

//------------------------------------------------------------------------------------------------------
// Instructions:
//--------------
// - copy this file (*.mq4) to "<mt4 client dir>\experts\"
// - copy the required header file (EAHelper vX.X.X.mqh) to "<mt4 client dir>\experts\include\"
// - copy the required indicators to "<mt4 client dir>\experts\indicators\":
//   * EMA Crossover Signal.mq4 (4,215 bytes)
//   * Laguerre.mq4 (2,746 bytes)
//   * Slope Direction Line.mq4 (4,196 bytes)
//   The indicators can be found on http://www.bustathief.com/earn-money-with-forex-trend-follower/
// note: compilation warnings are not harmful
//------------------------------------------------------------------------------------------------------
// For a description of the meaning of the external parameters, refer to the comments in the source code
//
extern int    basemagicnumber   = 20100806;   // base magic number for this EA, used to derive the magic numbers for the various timeframes
extern int    timeframe         = PERIOD_M5;  // timeframe on which the EA is applied (chart timeframe is not taken into account)
extern int    arrowfastema      = 4;          // period of the fast EMA for the arrow indicator (EMA crossover)
extern int    arrowslowema      = 8;          // period of the slow EMA for the arrow indicator (EMA crossover)
extern int    macdfastema       = 5;          // fast ema period of the MACD indicator
extern int    macdslowema       = 35;         // slow ema period of the MACD indicator
extern int    macdsignalper     = 5;          // periodicity of the signal line of the MACD indicator
extern int    volachannelper    = 34;         // periodicity for the volatility channel calculation
extern double laguerregamma     = 0.66;       // gamma parameter of the Laguerre indicator
extern double laguerrereflevel  = 0.15;       // reference level of the Laguerre indicator for entry conditions
extern int    slopedirper       = 80;         // periodicity of the slope direction line indicator
extern int    stoplossmode      = 1;          // stop loss mode; 1: recent high/low breakout; 2: fixed amount of pips
extern int    slm1extensionpips = 5;          // for stoploss mode 1, number of extra pips for the breakout above/below recent high/low
extern int    slm1recentbars    = 5;          // for stoploss mode 1, number of bars for the calculation of recent high/low
extern int    slm2pips          = 25;         // for stoploss mode 2, fixed amount of pips for the stoploss
extern double riskperc          = 1.0;        // risk percentage in terms of account equity
Attached File(s)
File Type: mq4 Trend Follower Wicker v1.0.0.mq4   52 KB | 819 downloads
File Type: mqh EAHelper v1.0.6.mqh   50 KB | 635 downloads
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 618 downloads
File Type: mq4 Laguerre.mq4   3 KB | 635 downloads
File Type: mq4 Slope Direction Line.mq4   4 KB | 663 downloads
  • #3,517
  • Edited 7:26am Aug 12, 2010 7:04am | Edited 7:26am
Thanks Asasa

Coding the Ma's must have been fun , lots of lines.....

Folks, the mqh is a library file, needs to go in the include folder all others in normal locations.


Correct Asasa?

Thanks Much
  • #3,518
  • Aug 12, 2010 7:11am Aug 12, 2010 7:11am
Quoting Tread
Folks, the mqh is a library file, needs to go in the libray folder all others in normal locations.
The mqh must be copied in the "experts\include" folder.
Please, read the instructions, it took me time to write them and it's all explained there.
  • #3,519
  • Aug 12, 2010 7:25am Aug 12, 2010 7:25am
Duly noted Sir!!
  • #3,520
  • Aug 13, 2010 3:37pm Aug 13, 2010 3:37pm
Quoting pilatus
Dear tf5min traders. I will post recent examples of how to evaluate good trades. As usually I will examine eur/usd. Today and this week particulary, we had few short signals which were textbook examples of low risk trades. As I posted in earlier posts I am paying much attention on support and resistance levels, especially market behaviour where support and resistance changes their roles which is one of the most important behaviour in TRENDING markets.
First thing that we should do in analyzing is to answer the queastion, why short signals are good...
Dear Pilatus!
You are professional.
It's like a trend follower's bible- i printed it, and put it on the wall, opposite of me. Thanks!
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