Mr. Blobby V3 (60m mechanical trading) | Forex Factory

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Mr. Blobby V3 (60m mechanical trading)

  • #1
  • First Post: Edited Oct 12, 2010 8:02am Oct 11, 2010 11:17am | Edited Oct 12, 2010 8:02am
For those familiar with my thread 'Mr. Blobby V2' I have started trading a similar system on longer term charts.

Link to Mr. Blobby v2 here:

http://www.forexfactory.com/showthread.php?t=248649

I will continue to test V2 scalping the 1m and 5m charts but I'm now also trading a new version (V3) on hourly charts with the addition of a 200 SMA as a filter. The reason is I want to catch the big moves and have the ability to get other things done instead of sitting at my screens for 12 hours a day.

The pairs I'm trading are: GBPUSD, EURUSD, EURGBP, USDJPY, AUDUSD, USDCHF.

Even with 6 pairs the action is slow compared to the 1m charts that I'm used to.

The last trade on EURUSD made close to 1000 pips


Mr. Blobby V3 Rules:

Enter when Blobby (BBStop) flips, provided that the 200SMA is pointing in the direction of the trade.

Wait for candle close for confirmation.

Stoploss: 60 pips

TP when Blobby flips again (wait for candle close).


I have attached the template and indicators and a screenshot so you see what it should look like.



Indicators

Blobby (BBStop)
200SMA (thin blue line)
100EMA (thin red line) - this is not essential but I prefer to keep it on
Pivots (daily, weekly, monthly) - again this is just my preference
RSI12 - good for getting in on a pull back if I miss my entry because I'm out or asleep.


Today wans't the best day to begin trading this as it was a US, Canada and Japan Bank Holiday. I will post my results for each trade, good or bad.

Feedback welcome

EDIT: I have added a new tpl file as the last one wasn't displaying the weekly pivot
Attached Image (click to enlarge)
Click to Enlarge Name: blobby v3.gif Size: 52 KB
Attached File(s)
File Type: zip indicators.zip   45 KB | 2,284 downloads
File Type: tpl MR Blobby V3.tpl   64 KB | 1,548 downloads
  • #2
  • Oct 11, 2010 5:16pm Oct 11, 2010 5:16pm
none of the repainting indicators....

I would add Fractals for re-entrys or if you missed the initial move.
WANT WHAT THE MARKET WANTS...
  • #3
  • Oct 11, 2010 5:26pm Oct 11, 2010 5:26pm
I don't use any repainting indicators. I don't see the point. The BBStop doesn't repaint, it is set in stone once the candle closes.
  • #4
  • Oct 11, 2010 9:36pm Oct 11, 2010 9:36pm
Roofx, thank you for sharing! Great job!

Could you tell us more about the money management? I understand that it depends on the trader's preferences (risk etc.), but what lot size would you recommend to trade (H-1, six pairs)?
  • #5
  • Oct 12, 2010 1:36am Oct 12, 2010 1:36am
Quoting Fokusnik
Roofx, thank you for sharing! Great job!

Could you tell us more about the money management? I understand that it depends on the trader's preferences (risk etc.), but what lot size would you recommend to trade (H-1, six pairs)?
Hi Fokusnik,

I'm trading this with a maximum risk per trade of 0.5% of my account and I will enter up to 3 trades at once, leaving up to 1.5% risk in the markets at any one time. Depending on your account size you may want to risk more but for me this is enough.

I have only started to forward test this and will be keeping a log of all my trades here.

So far I have taken two losses this week.
Attached Image (click to enlarge)
Click to Enlarge Name: Tuesday.jpg Size: 44 KB
  • #6
  • Oct 12, 2010 4:51am Oct 12, 2010 4:51am
Quoting Roofx
I don't use any repainting indicators. I don't see the point. The BBStop doesn't repaint, it is set in stone once the candle closes.
You are absolutely right. I meant "none of your indicators are repainting", it came out kind of cryptic.

Will be looking forward for many successful trade setups.
WANT WHAT THE MARKET WANTS...
  • #7
  • Oct 12, 2010 5:30am Oct 12, 2010 5:30am
Quoting Roofx
For those familiar with my thread 'Mr. Blobby V2' I have started trading a similar system on longer term charts.

Link to Mr. Blobby v2 here:

http://www.forexfactory.com/showthread.php?t=248649

I will continue to test V2 scalping the 1m and 5m charts but I'm now also trading a new version (V3) on hourly charts with the addition of a 200 SMA as a filter. The reason is I want to catch the big moves and have the ability to get other things done instead of sitting at my screens for 12 hours a day.

The pairs I'm trading are:...
What is the indicator that draws a purple line to your chart? Is it somsort of StepMA or what?

Regards

Kristjan
  • #8
  • Oct 12, 2010 6:16am Oct 12, 2010 6:16am
Hi Roofx

I like this new strategy, a trading plan that allows sleep is OK with me!!

What is your general TP target, also what SL do you set. Have you any idea what your win ratio is with this?

Thanks

WFX
  • #9
  • Oct 12, 2010 7:05am Oct 12, 2010 7:05am
Quoting kristjantelve
What is the indicator that draws a purple line to your chart? Is it somsort of StepMA or what?

Regards

Kristjan
its the daily pivot. indicator included in first post.
WANT WHAT THE MARKET WANTS...
  • #10
  • Edited 8:15am Oct 12, 2010 7:52am | Edited 8:15am
Quoting wickstedFX
Hi Roofx

I like this new strategy, a trading plan that allows sleep is OK with me!!

What is your general TP target, also what SL do you set. Have you any idea what your win ratio is with this?

Thanks

WFX
Hi, my post explains I use a 60 pip stop loss and I exit (TP) when the BBStop flips. Here's an example of entry and exit attached below. It's important to use the MAs to filter out some losses. If we just blindly follow the BBStop we give back too much of our profits.

Our 100EMA must be pointing in the direction of the trade and our 200SMA must be doing the same OR at least flattening out and starting to head the direction of our trade. If the 200SMA is showing a clear up trend we ignore any sell signals the BBStop may give but if we are in a buy trade and the BBStop flips to RED we take it as an exit signal and get out. Some times a few hours later we get another buy entry signal and can re-enter for another buy.
Attached Image (click to enlarge)
Click to Enlarge Name: entry exit.gif Size: 48 KB
  • #11
  • Oct 12, 2010 7:59am Oct 12, 2010 7:59am
Quoting kristjantelve
What is the indicator that draws a purple line to your chart? Is it somsort of StepMA or what?

Regards

Kristjan
Yep as countex said it's just a Daily Pivot. You don't need to use this but it adds extra confidence if I get a sell signal and price is keeping below the Daily Pivot.

If you zoom out you should also see a Weekly Pivot and Monthy Pivot. For some reason my Weekly Pivot disappeared so I have attached the latest Template for those who have the same issue.
Attached File(s)
File Type: tpl MR Blobby V3.tpl   64 KB | 574 downloads
  • #12
  • Oct 12, 2010 8:11am Oct 12, 2010 8:11am
I'm short Cable (GBPUSD) from 1.5865. I took it at 9.00am GMT this morning and it went to 60+ and is currently at +19. Let's see how this one plays out over the rest of today. Hopefully it will continue south for a day or two but this is forex - it could do anything!
  • #13
  • Oct 12, 2010 8:17am Oct 12, 2010 8:17am
I must say after scalping the 1m charts for the last 6 months, trading 10+ times per day, it sure is painfully slow trading the H1 charts! But it does allow for some sleep! After my 9am short I went back to bed and just got up again now at 2pm haha
  • #14
  • Oct 12, 2010 9:34am Oct 12, 2010 9:34am
Quoting Roofx
Hi Fokusnik,

I'm trading this with a maximum risk per trade of 0.5% of my account and I will enter up to 3 trades at once, leaving up to 1.5% risk in the markets at any one time. Depending on your account size you may want to risk more but for me this is enough.
Roofx, thank you for your answer. I think it is a very smart and reasonable money management.
  • #15
  • Oct 12, 2010 12:01pm Oct 12, 2010 12:01pm
I'm just about to call it a day. I have 3 positions open and will check their progress every hour or two.
Attached Image (click to enlarge)
Click to Enlarge Name: current positions.jpg Size: 41 KB
  • #16
  • Oct 12, 2010 12:54pm Oct 12, 2010 12:54pm
Hi RoofX,

I normally trade the 15M and 30M time frame, but I normally face the problem of exit from my open trades. Currently I use the dicretionary system of trading, wherein my entry is somewhat mechanical, so I thought I might as well give your system a look if I could solve your problem of getting rid of range bound markets by not taking signals.

However, when I loaded the template onto my MT4, in the 15M EU chart, it displays the BBand Stop Indicator only since the last month, September. Before Sept 2010, all my other normal indicators are loaded, but the BBand fails to show up for data prior to a month.

Will it be possible to load the indicator for as far as the data is loaded?
Do help me if you can...

Cheers !!!!!
  • #17
  • Oct 12, 2010 1:18pm Oct 12, 2010 1:18pm
Quoting vipulramaiya
Hi RoofX,

I normally trade the 15M and 30M time frame, but I normally face the problem of exit from my open trades. Currently I use the dicretionary system of trading, wherein my entry is somewhat mechanical, so I thought I might as well give your system a look if I could solve your problem of getting rid of range bound markets by not taking signals.

However, when I loaded the template onto my MT4, in the 15M EU chart, it displays the BBand Stop Indicator only since the last month, September. Before Sept 2010, all my other normal indicators...
I would like to trade this on the 15m charts too but I get too many losers. 60m and 4hr are best but for me 4hr is just far TOO SLOW!

I have the same problem with the indicator history. For some reason the BBstop indicator doesn't go back very far. You can increase the 'Nbars' parameter in the settings. It should be at 2000 as my default setting but you can increase this. The trouble is it reaches a point where increasing it further won't make a difference. I don't know why this is. I keep it at 2000 to reduce memory usage. It is quite a memory hog of an indicator!
  • #18
  • Oct 12, 2010 9:11pm Oct 12, 2010 9:11pm
Is there an alert for the blobby indicator?
Attached Image (click to enlarge)
Click to Enlarge Name: blobby ex.gif Size: 65 KB


Also...on this Sell Trade...would this be a good place to Re-enter if pa bounces off the 200 and RSI follows direction?
  • #19
  • Oct 12, 2010 9:20pm Oct 12, 2010 9:20pm
Just to make sure that I understand this. Yes I did read the other thread today as well.

This is really a Bollinger Band set to 75 with 1 Deviation. We use the 200 SMA to filter trades and use it on H1.

I state this because I like its simplicity. I looked at it in backtesting today on H1 while using a 50 pip SL and the results seemed very good. No quantitative data as it was a quick backpass on 8 pairs for all of 2010.

i used 21 EMA as a re-entry. I deleted all the SL code in the indicator as someone said that the indicator was a resource hog. It is a fairly easy indicator to clean up if you only want the line and signal.
  • #20
  • Oct 12, 2010 11:14pm Oct 12, 2010 11:14pm
Quoting flyer415
Just to make sure that I understand this....
Is there any way you could post the revised indicator here...thanks in advance!
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