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Attachments: Part 2 EURUSD Trend magic System
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Part 2 EURUSD Trend magic System

  • #101
  • Oct 14, 2010 5:03am Oct 14, 2010 5:03am
There are 4 clear higher lows that I saw that were all per system. We traded 2.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 16 KB
  • #102
  • Oct 14, 2010 6:19am Oct 14, 2010 6:19am
dicsdob


Where can I get the MTF CCI indicator? I do not see it posted here anywhere. Please post or direct me to where I can get. Thank you

Richard


If the Trend Magic and the BBMACD blue then i am looking the MTF CCI(14) M30 that higher 0. If this right then i am buy.

http://kepfeltoltes.hu/101014/1_www....toltes.hu_.gif[/quote]
  • #103
  • Oct 14, 2010 6:39am Oct 14, 2010 6:39am
[quote=dicsdob;4095889]Hi WFT!


If the Trend Magic and the BBMACD blue then i am looking the MTF CCI(14) M30 that higher 0. If this right then i am buy.

Thanks
  • #104
  • Oct 14, 2010 6:50am Oct 14, 2010 6:50am
Right you are. But that is the simplest of exit strategies. I thought you might have been looking for some kind of complicated exit strategy. My philosophy is to keep it simple. Yes, I move the stop up or down as TM changes levels and then wait for the stop to hit! It makes trading fun again! Check the chart I attached today. I took a signal on the hourly chart and was stopped out at 70 pips. I've been using this system for 1 week, and so far can find nothing wrong with it! I've lost count of the pips I've taken, but it's in the 300 to 400 pip range and around an 86% win rate. The bigger winners come from the hourly signals

Quoting simpletrades
It doesnt really because in your original post you said..."I use my own exit strategy so I didn't need to read any of that."
Using the flatline and moving from new flatline to flatlineline as the trade develops is the thread method.
Attached Image
  • #105
  • Oct 14, 2010 6:53am Oct 14, 2010 6:53am
[quote=wickstedFX;4096259]
Quoting dicsdob
Hi WFT!


If the Trend Magic and the BBMACD blue then i am looking the MTF CCI(14) M30 that higher 0. If this right then i am buy.

Thanks
Thats how I understand it. Looks like the MTF CCI indicator is very important to the system. Please someone post it here. thank you
  • #106
  • Oct 14, 2010 7:03am Oct 14, 2010 7:03am
Quoting skybiz007
Thats how I understand it. Looks like the MTF CCI indicator is very important to the system. Please someone post it here. thank you
I looked it up. Guessed it was used in the first tread of this system, so went to post one of this tread, followed Paulus link to the first tread. Click the paperclick, hide images and start looking for someting called MTF CCI.

Try it yourself. You'll find it.
(But i'm kind enough to post it here

But let me remind you Paulus didn't want us to come up with a bunch of indicators on this tread......
He started this one to get rid of the huge amount of indy's. Let's keep it pure and like he intended it. I'm testing the system on a 4h chart for 3 pairs. Let you guys know how it performs.
Attached File(s)
File Type: mq4 #MTF_CCI.mq4   4 KB | 1,233 downloads
  • #107
  • Oct 14, 2010 8:00am Oct 14, 2010 8:00am
[quote=skybiz007;4096283]
Quoting wickstedFX

Thats how I understand it. Looks like the MTF CCI indicator is very important to the system. Please someone post it here. thank you
You don't really need MTF CCI, because when it comes down to it, it's just a moving average plotted as an oscillator. All MT4 platforms have the moving average indicator by default.
If you don't risk, you don't ever have to lose.
  • #108
  • Oct 14, 2010 9:15am Oct 14, 2010 9:15am
Quoting JulesvH
I looked it up. Guessed it was used in the first tread of this system, so went to post one of this tread, followed Paulus link to the first tread. Click the paperclick, hide images and start looking for someting called MTF CCI.

Try it yourself. You'll find it.
(But i'm kind enough to post it here

But let me remind you Paulus didn't want us to come up with a bunch of indicators on this tread......
He started this one to get rid of the huge amount of indy's. Let's keep it pure and like he intended it. I'm testing the system on a 4h chart for...
Thank you Jules for the indy. I understand the bunch part,, looking for something to make it clearer for me. Intend to keep it simple and will eliminate the ones I can not relate to. Just looking for the holy grail been looking for 11 years and counting.....lol
  • #109
  • Oct 14, 2010 2:55pm Oct 14, 2010 2:55pm
Hi, just got through the whole thread. Seems a very nice and simple method.

I have question on the entry though:

"Entry long

BB MACD blue
TM goes from red to blue

Entry Short

BB MACD red
TM goes from blue to red"

1. As I understand it the BB Macd should already be blue ahead of the TM for long. That is the BB is already blue then the TM turns from red to blue back to color agreement?

2. Now what if the BB is red, but the TM is blue and I want to look for a long. Do I wait for the BB to go blue, then the TM to go red and change back to blue before entering?

I guess what I'm really asking does the order of the indicators agreeing have to be BB first, and then TM going against and then agreeing?

So, three conditions?:

1. BB blue or red.
2. TM opposite
3. TM swithes back to agreement.
  • #110
  • Edited Oct 15, 2010 2:27am Oct 14, 2010 4:05pm | Edited Oct 15, 2010 2:27am
This is the indicator link : http://codebase.mql4.com/1892

http://kepfeltoltes.hu/101015/361761...toltes.hu_.jpg
  • #111
  • Oct 15, 2010 3:35am Oct 15, 2010 3:35am
Quoting KumoDragon
I guess what I'm really asking does the order of the indicators agreeing have to be BB first, and then TM going against and then agreeing?
Not exactly. According to the original rules, you have to wait for BB to go blue to look for longs. If TM is already blue, you just jump right in. If TM is red, you wait for it to go blue.

I have traded this system quite a lot in terms of screen time and I can tell you that BB is not really that important once you've traded it for a while. The nice thing about this system is that it doesn't really hide the price so once you have enough experience, you are able to use price action and TM only to place your trades. You can and should use BB if you are just starting to use this system, but once you progress, you should be able to see with your own eyes the lower lows, higher highs and so forth. That's what happened to me, anyway. Alternatively, you could place a moving average (some have already done that via CCI, which in essence just shows you whether the price is above or below a certain SMA) to replace BB. I don't want to deviate from Paul's original setup, but I have found the 50 ema very useful when the market is trending. Also, have round numbers marked on your chart before you start trading (a'la 00 and 50 intraday levels).

If you have more questions I'd be glad to answer.
If you don't risk, you don't ever have to lose.
  • #112
  • Oct 15, 2010 5:09am Oct 15, 2010 5:09am
Quoting bug
Not exactly. According to the original rules, you have to wait for BB to go blue to look for longs. If TM is already blue, you just jump right in. If TM is red, you wait for it to go blue.

I have traded this system quite a lot in terms of screen time and I can tell you that BB is not really that important once you've traded it for a while. The nice thing about this system is that it doesn't really hide the price so once you have enough experience, you are able to use price action and TM only to place your trades. You can and should use BB if...
Hi Bug!

What is your Money Managemant?
  • #113
  • Oct 15, 2010 6:34am Oct 15, 2010 6:34am
Quoting bug
Not exactly. According to the original rules, you have to wait for BB to go blue to look for longs. If TM is already blue, you just jump right in. If TM is red, you wait for it to go blue.

I have traded this system quite a lot in terms of screen time and I can tell you that BB is not really that important once you've traded it for a while. The nice thing about this system is that it doesn't really hide the price so once you have enough experience, you are able to use price action and TM only to place your trades. You can and should use BB if...
Thanks a lot for your clear answer.
  • #114
  • Oct 15, 2010 7:00am Oct 15, 2010 7:00am
Hi, another question.

Here is something that I saw today.

Got up today saw both TM and BB were red. So, I got in short as it didn't look like a bad spot.

Shortly thereafter both BB and TM turned blue, but price had not yet hit my SL.

Instead of waiting for SL I just got out early and took the long.

Is this a good or bad thing to do to use the change of TM/BB as an early exit, before SL?
  • #115
  • Oct 15, 2010 9:38am Oct 15, 2010 9:38am
I must say having lots of fun on this method, using to trade 5 min higher lows and lower highs. We do not trade moves through TM even with correct colour changes unless that move itself is a hl/lh.

Thanks Paulus.
  • #116
  • Oct 15, 2010 10:52am Oct 15, 2010 10:52am
Well, tried it today and I lost -151 pips on GU today, over 5 trades, trading the 5M.

Probably not the greatest day to start being friday.

One trade could have been +50 but got stopped out at BE, should have just taken 50 as it was really a news reaction at 7:30.

Looking back my entries could have been better. It seems that the best entry is with the color change, you can't just jump in because the colors agree and hope it continues.

Also I noticed that the BB changes color right along with the TM, so what is the point of even bothering with the BB? Is there a better way to use it instead of just reading only the color?
  • #117
  • Oct 15, 2010 11:22am Oct 15, 2010 11:22am
Hey KD,
Yep, yep...that'd be Bugs' way, it is worthy to note...
PA, PA, PA...HL's, LH's...123 pattern, etc.
Also, note the relationship of EUR/GBP today...Euro is the weaker one,
so better to look for shorts against USD, YEN, etc.
Not to mention round numbers as potential targets.
News is always tough puppy any way, but you did have profit,
maybe tighten up on the stop to protect profit.

Hope your trades are better for you next week.
Included a round numbers indy if anyone wants to throw it on their charts.

Cliff

Quoting KumoDragon
Well, tried it today and I lost -151 pips on GU today, over 5 trades, trading the 5M.

Probably not the greatest day to start being friday.

One trade could have been +50 but got stopped out at BE, should have just taken 50 as it was really a news reaction at 7:30.

Looking back my entries could have been better. It seems that the best entry is with the color change, you can't just jump in because the colors agree and hope it continues.

Also I noticed that the BB changes color right along with the TM, so what is the point of even bothering...
Attached File(s)
File Type: mq4 Round Numbers Beige.mq4   4 KB | 874 downloads
I get exercise just pushing my luck
  • #118
  • Oct 15, 2010 1:03pm Oct 15, 2010 1:03pm
Quoting cce
Hey KD,
Yep, yep...that'd be Bugs' way, it is worthy to note...
PA, PA, PA...HL's, LH's...123 pattern, etc.
Also, note the relationship of EUR/GBP today...Euro is the weaker one,
so better to look for shorts against USD, YEN, etc.
Not to mention round numbers as potential targets.
News is always tough puppy any way, but you did have profit,
maybe tighten up on the stop to protect profit.

Hope your trades are better for you next week.
Included a round numbers indy if anyone wants to throw it on their charts.

Cliff
Whats bugs way?
  • #119
  • Oct 15, 2010 1:24pm Oct 15, 2010 1:24pm
KD,
Well, Bug pretty much summed it up in his post #111 above. Perhaps he could elaborate a bit more if you asked him.
Luck to you and all.
Cliff

Quoting KumoDragon
Whats bugs way?
I get exercise just pushing my luck
  • #120
  • Oct 15, 2010 2:02pm Oct 15, 2010 2:02pm
Quoting KumoDragon
Hi, another question.

Here is something that I saw today.

Got up today saw both TM and BB were red. So, I got in short as it didn't look like a bad spot.

Shortly thereafter both BB and TM turned blue, but price had not yet hit my SL.

Instead of waiting for SL I just got out early and took the long.

Is this a good or bad thing to do to use the change of TM/BB as an early exit, before SL?
I'm afraid there aren't any 100% fool-proof rules and you just have to acquire enough screen time to be able to answer those questions. The thing is that I could give you an answer that suits me but I'm not sure it would fit with your trading style (the saying is that each and every one of us has to find a style and a system/strategy that fits their personality). With that mind, however, I would like to emphasize that price action can and once you have enough experience, certainly will help you make those calls. Vantage has made a very good point in the post that follows your post. Emphasis mine.

Quoting Vantage
I must say having lots of fun on this method, using to trade 5 min higher lows and lower highs. We do not trade moves through TM even with correct colour changes unless that move itself is a hl/lh.

Thanks Paulus.
So there you have it. Paul's original system + price action. You could try putting little boxes on an old chart to denote higher highs, lower lows and so on just to get the feel of it. Then proceed to live demo testing and see what you end up with. For me, this seemed a little to much to take in at first but trust me, once you get the feel of it, it will be easier. It will still take all the focus and hard work that you would expect from trading, but the amount of confusion should drop.
If you don't risk, you don't ever have to lose.
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