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Part 2 EURUSD Trend magic System

  • #61
  • Sep 30, 2010 11:36am Sep 30, 2010 11:36am
Quoting CanuckCT
I think Paulus was trying to keep this thread clean of indicators. Since the alert is merely using the basic setup, seems OK to post the link.
Cheers
CanuckCT
http://www.forexfactory.com/showpost...postcount=4869
Glad to have found this thread, just a question, on the SMA alert indicator, do I need to change the SMA setting to 21 or leave it on 50? Alerted when colour change to yellow, is yellow neutral?
  • #62
  • Sep 30, 2010 11:48am Sep 30, 2010 11:48am
Quoting TriMagic
Glad to have found this thread, just a question, on the SMA alert indicator, do I need to change the SMA setting to 21 or leave it on 50? Alerted when colour change to yellow, is yellow neutral?
yellow is when bbmacd and tm arent both the same color, otherwise it matches their red or blue direction
  • #63
  • Sep 30, 2010 12:10pm Sep 30, 2010 12:10pm
I just uploaded the indicators and this is what I saw now, colour changing at the bottom two indicators but the TM not changing colour? Any idea's?
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  • #64
  • Sep 30, 2010 12:17pm Sep 30, 2010 12:17pm
Alright so basically if TM turned blue that would have been a long entry correct?
  • #65
  • Sep 30, 2010 12:26pm Sep 30, 2010 12:26pm
Almost
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  • #66
  • Sep 30, 2010 2:00pm Sep 30, 2010 2:00pm
EJ Trade - with the time of day and what was happening with JPY pairs, I was looking for an EJ short and I usually do that time of the evening.

AU Trade - The first sell alert I ignored because I was wanting it to break the nearest low from 2 bars earlier. The next buy signal I ignored because it was below TM. The third signal I took because it was bearish price action re the prior bar and I had a good place to put the stop. And AU had been on a good tear and was pulling back on bigger timeframe. Was also about to break an M5 trendline...I didn't draw the line but I could see it. And overall price action on other USD pairs had some influence. So it was not simply a matter of taking the signal. You can't trade it that way, in my opinion. I treat it as a heads up...and I take it if I like the overall price action and what is happening in general.

I'll post the next trade that doesn't work...not cherry picking the trades.

Cheers
CanuckCT



the
Quoting simpletrades
nice trade, but 30 minutes earlier when both indicators went blue together, why not go long treating it as pullback with a new buy signal?
it would have failed, but thats hindsight.

No need to answer--its because the bands didnt re-expand.
I'll leave this post up though.
  • #67
  • Sep 30, 2010 4:02pm Sep 30, 2010 4:02pm
Quoting CanuckCT
EJ Trade - with the time of day and what was happening with JPY pairs, I was looking for an EJ short and I usually do that time of the evening.

AU Trade - The first sell alert I ignored because I was wanting it to break the nearest low from 2 bars earlier. The next buy signal I ignored because it was below TM. The third signal I took because it was bearish price action re the prior bar and I had a good place to put the stop. And AU had been on a good tear and was pulling back on bigger timeframe. Was also about to break an M5 trendline...I didn't...
interesting that you dont plot the BB part of BBMACD as a guide to new moves or old ones that just gathered new steam as the bands go from narrow to wider.
  • #68
  • Sep 30, 2010 8:49pm Sep 30, 2010 8:49pm
can someone answer this please.
I'm in Boston--EST. I know London opens 3am EST, but is 2am EST a more general European open or is it premkt London like 8am EST is for NY?
  • #69
  • Sep 30, 2010 8:51pm Sep 30, 2010 8:51pm
Quoting TriMagic
Almost
are your bottom indicator settings set to match the faster bbmacd right above or the slower one above that?
  • #70
  • Sep 30, 2010 9:18pm Sep 30, 2010 9:18pm
Might I suggest you refrain from introducing new settings....keep the approach pure.
Cheers
CanuckCT
  • #71
  • Sep 30, 2010 9:43pm Sep 30, 2010 9:43pm
Quoting simpletrades
can someone answer this please.
I'm in Boston--EST. I know London opens 3am EST, but is 2am EST a more general European open or is it premkt London like 8am EST is for NY?
2 AM EST is Frankfurt open (their 9 AM). Some decent volume kicks in around that time. It isn't like 8 AM EST because London/Europe is open (therefore high volume) whereas Frankfurt opens from low volume.
  • #72
  • Sep 30, 2010 10:16pm Sep 30, 2010 10:16pm
Our 2AM EST is Frankfurt's 8AM and that is when their market opens. Frankfurt is 6 hours ahead and London 5.

Quoting 2+2=4ex
2 AM EST is Frankfurt open (their 9 AM). Some decent volume kicks in around that time. It isn't like 8 AM EST because London/Europe is open (therefore high volume) whereas Frankfurt opens from low volume.
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  • #73
  • Oct 1, 2010 6:22am Oct 1, 2010 6:22am
Quoting CanuckCT
Might I suggest you refrain from introducing new settings....keep the approach pure.
Cheers
CanuckCT
thats my point--the bottom should have been red.
  • #74
  • Oct 5, 2010 7:48am Oct 5, 2010 7:48am
is there a max number of bars on the 5 min between the time TM recolors followed by BBMACD or vice versa before the entry is invalid or too risky?

i understand there are other factors people might consider before entry like pivots or fibs or s/r, but generally speaking, is there a max?
  • #75
  • Oct 7, 2010 4:31am Oct 7, 2010 4:31am
Hy

I am use the Paulus stategy and 1 indicator.
I am look M5 chart.

1. The BB_MACD is blue
2. The Trend Magic is blue
3. The MTF CCI M30 is bigger 0

I am buy this pair.
http://kepfeltoltes.hu/thumb/101007/...toltes.hu_.gif

If the MTF CCI M30 under the 100 then i close the positon.
  • #76
  • Oct 7, 2010 7:49am Oct 7, 2010 7:49am
Hi Paulus,

I like to ask if the TM change colour first and a bar or 2 later the bb macd changes to same colour as TM is it still valid?


regards,
Heavenforex
  • #77
  • Oct 7, 2010 7:51am Oct 7, 2010 7:51am
oops...i just realise I posted the same question as Simpletrades... sorry
  • #78
  • Oct 9, 2010 3:19am Oct 9, 2010 3:19am
I found this thread 2 days ago. Because I don't like second guessing, I read the first instructional post and stopped there. I use my own exit strategy so I didn't need to read any of that. I can say that on Thursday I started trading TM live. First trade lost 8 pips (but that it would seem, is the beauty of this system), trade #2, rode it for 41 pips, then trade number 3 (on Friday) rode it for 86 pips! Closed all trades and banked 119 pips before NFP on Friday (using TM only)! To the man that created these indies (and the template) I say thank you! This system certainly takes K.I.S.S to a new level of Simple!

"Trend Magic"...sort of has a nice ring to it..yes?

Incidentally, if you would like to make it even more powerful, add a few Bill Williams indicators to the chart (Alligator and Fractals). That's just me though, I love Bill Williams System!
  • #79
  • Oct 9, 2010 5:20am Oct 9, 2010 5:20am
Thanks Paulus, nice and simple and does a good job showing higher lows and lower highs in 5 min trend.

Cheers.
  • #80
  • Oct 9, 2010 12:54pm Oct 9, 2010 12:54pm
I realize my post isnt TM directly, but everyone taking short term trades with TM is affected by the new rules in effect mid-October.
I need a new broker, I was with Gallant but they are moving us to Forex.com and look at the difference in the spreads!! (screenshot taken today--Saturday).
Any help?
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