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Trend Follower 5 Minute System

  • #3,641
  • Oct 26, 2010 1:57pm Oct 26, 2010 1:57pm
Quoting fxready
Pilatus, how could you explain about this cross phenomena? Refer chart attached. I appreciate your teaching in advance.
SImple. USD/CHF is not in same hour like others two/or GBP/USD was not active ans stayed almost same for some time. GBP is not the strongest currencie no matter how it beat CHF, USD is in your example strongest currencie and in your example best trading choice, not GBP/CHF. IF I understood you correctly what you were trying to ask.
  • #3,642
  • Oct 27, 2010 7:23am Oct 27, 2010 7:23am
Trade at our own risk management.

http://img844.imageshack.us/img844/2...trendentry.gif
  • #3,643
  • Oct 27, 2010 8:55am Oct 27, 2010 8:55am
lovely example on the value of following into smaller tf progression fxready and the as i see it importance of trading shorter tf in only same direction as the longer frames
dont trade against the longer trend unless scalping in very short tf's and only if you have a good understanding of technical s and r levels

great simple system
thank you wicker

j
  • #3,644
  • Oct 27, 2010 9:02am Oct 27, 2010 9:02am
imo sterling is not a good steady reliable pip earner
i personally stay with three-- eur/usd ,aud/usd, usd/jpy the former and latter move markets ---enough pips in those 3 for me --simple and relaxed
,,,, the gbp is a secondary player unfortunately these days
all imo

good trading
  • #3,645
  • Oct 29, 2010 7:45am Oct 29, 2010 7:45am
Suggest trade for EJ. If fail to materialise, apply your MM.

http://img837.imageshack.us/img837/5...ttradeconf.gif
  • #3,646
  • Oct 29, 2010 2:55pm Oct 29, 2010 2:55pm
Quoting fxready
Suggest trade for EJ. If fail to materialise, apply your MM.

http://img837.imageshack.us/img837/5...ttradeconf.gif
Buddy did you take today short trade signal for gbp/usd????
  • #3,647
  • Edited 11:31pm Oct 29, 2010 11:24pm | Edited 11:31pm
Hi Pilatus, the chart attached show my opinion.

http://img222.imageshack.us/img222/2...9tf1htrend.gif http://img168.imageshack.us/img168/2...tf30mtrade.gif
  • #3,648
  • Nov 5, 2010 12:34pm Nov 5, 2010 12:34pm
Hi, I've been studying this system for a couple of days. I trade Oil CFDs. It is similar with my usual trading strategy except I don't use the slope line and laguerre and I usually watch the H1-M15-M5 TF. Does anybody ever use it on Oil and Dow?
  • #3,649
  • Nov 13, 2010 11:27pm Nov 13, 2010 11:27pm
Does anyone agree with this simple analysis?

http://img231.imageshack.us/img231/6...lysisnov10.gif
  • #3,650
  • Nov 14, 2010 7:48am Nov 14, 2010 7:48am
fxready,

technially I agree with your analysis. Generally there are the fundmental and the technical driven analysts. I am convinced, that prices showed in larger timeframes as the daily crude above are not driven by TA facts only. Especially not the currency pairs.

But it is no conflict to use TA in lower TFs. Best example is the Trend Follower strategy. Using special patterns, but execute the trade only, if the higher TFs (= trend) are in agreement.

josch
trading is war - life is simple
  • #3,651
  • Nov 15, 2010 1:37am Nov 15, 2010 1:37am
Josch, I believe your comment is true and that's consider the answer for the traderco question. Smaller TF should in-line with bigger TF.
  • #3,652
  • Nov 30, 2010 12:12am Nov 30, 2010 12:12am
I hope this trade will profit today. Less thinking. Just do it.

http://img87.imageshack.us/img87/272...1305msetup.gif
  • #3,653
  • Nov 30, 2010 8:58am Nov 30, 2010 8:58am
Quoting fxready
I hope this trade will profit today. Less thinking. Just do it.

http://img87.imageshack.us/img87/272...1305msetup.gif
I missed this:-(
  • #3,654
  • Nov 30, 2010 9:47am Nov 30, 2010 9:47am
Hi traders
First off...Thanks to The Wicker and all here who have contributed in this thread. I'm trying this strategy out on demo right now but I have to ask...How are these rainbows calculated? I need to understand how they work before I can build any trust in them. I'm very familiar with Guppy MMA but not these! I've read up to page 77 and haven't seen this question answered so thanks to anyone who knows what the heck these things are.
Mark
  • #3,655
  • Nov 30, 2010 10:23am Nov 30, 2010 10:23am
To those who lazy... read here http://www.forexfactory.com/showpost.php?p=4101102&postcount=3619
  • #3,656
  • Nov 30, 2010 12:30pm Nov 30, 2010 12:30pm
Quoting markd85
Hi traders
First off...Thanks to The Wicker and all here who have contributed in this thread. I'm trying this strategy out on demo right now but I have to ask...How are these rainbows calculated? I need to understand how they work before I can build any trust in them. I'm very familiar with Guppy MMA but not these! I've read up to page 77 and haven't seen this question answered so thanks to anyone who knows what the heck these things are.
Mark

Well...I found the answer myself. If anybody is interested the Wicker rainbow is all emas based on close...


GOLD (2,3,4,5,6,7,8,9,10,11,12,13,14,15)
DARK ORANGE (17,19,21,23,25,27,29,31,33,35,37,39,41)
MEDIUM BLUE (44,47,50,53,56,59,62,65,68,71,74)
FOREST GREEN (78,82,86,90,94,98,102,106,110,114,118,122)
RED (125,130,135,140,145,150,155,160,165,
170,175,180,185,190,195,200)
  • #3,657
  • Nov 30, 2010 4:08pm Nov 30, 2010 4:08pm
Hi jacko4
Sounds like your really doing well with your trading. Do you mind talking about how you exit? That is the most descrsionary part of the method. I normally try to set a profit target near twice my risk. I know The Wicker used pivots with his exits. It would be nice if you could backtest with the old pivots to see how well they performed. Thanks.
Mark
  • #3,658
  • Nov 30, 2010 5:05pm Nov 30, 2010 5:05pm
Quoting jacko4
been using this method for 3 months in live trading account on 3 fx pairs in 5 min tf and make 200+ pips everyday
use mt4 with trend follower and trade on my own usual platform
marvellous simple system but only if u apply wickers rules for arrow,macd + or- and lagueere 75 or 15

no need to do more
works v well in longer frames esp 15 min
Do you mean 200 or 20 because 200 pips everyday seems to be amazing !!
  • #3,659
  • Nov 30, 2010 5:06pm Nov 30, 2010 5:06pm
Thanks Jacko4
I agree with keeping stuff simple and I don't understand why alot of people want to change a method presented to them hardly before they even try it out. You see alot of that around here. Just have to search for the Holy Grail I guess. Do you take which ever S or R is closest regardless if its daily, weekly or monthly. Continued good trades.
Mark
  • #3,660
  • Dec 1, 2010 8:37am Dec 1, 2010 8:37am
Quoting jacko4
yes 200 pips
long on eur/usd today nearly gives you that already

mark
yes which ever s or r line is closest
if it has a clean break of that level and all the rules still apply i would reenter depending on profit made and always put a stop just at previous level

hope this helps

simple trend following
you are really a very good trader, because today following the rules of the system on eu all what you can get is +27 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture-2307490: MetaTrader - Alpari UK - Compte Démo - [EURUSD,M5].png Size: 75 KB
if you win you can share if you loose you can try to sell your shit.
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